compared to 2016.
The majority of the decrease was due to lower unrealized gains on foreign exchange contracts as a result of the weakening of the U. S.  dollar against foreign currencies across the Company’s international markets and to a lesser extent, lower prepaid royalty balances in 2017 compared to 2016.
These decreases were partially offset by higher prepaid non-income related taxes, primarily value-added taxes.
Other assets increased 23% in 2018 compared to 2017.
Higher balances in 2018 include: increased deferred tax asset balances related to tax benefits derived from intercompany dividends, higher capitalized movie and television production costs, net of related production rebates, primarily related to the Company’s share of costs related to BUMBLEBEE, the theatrical release produced jointly with Paramount Pictures, and released in December of 2018, higher long-term receivable balances related to the long-term portion of a multi-year digital distribution agreement for Hasbro television programming as well as higher accrued royalty income as a result of the adoption of the ASU 2014-09 in 2018.
These increases were partially offset by lower long-term royalty advances and payments received from Cartamundi in relation to a long-term note receivable related to the sale of the Company’s manufacturing operations in August 2015.
Other assets decreased 22% in 2017 compared to 2016.
Lower balances in 2017 relate primarily to reduced deferred tax asset balances as a result of the decrease in the U. S.  corporate tax rate beginning in 2018, as provided by the Tax Cuts and Jobs Act enacted in December 2017.
In addition, other assets decreased from declines in the value of long-term foreign exchange contracts, payments received from Cartamundi and lower long-term royalty advances.
These decreases were partially offset by higher capitalized movie and television production costs, net of related production rebates in 2017.
Accounts payable and accrued liabilities increased 15% in 2018 compared to 2017.
Increases included higher accrued liabilities related to the remaining amounts due for the POWER RANGERS acquisition, increased severance charges related to the Company’s 2018 restructuring program, higher deferred revenue balances primarily related to the launch of the online version of MAGIC: THE GATHERING, higher accrued tax balances related to value added taxes, primarily in Europe and Mexico and higher accrued dividends due to a higher dividend rate announced for 2019.
These increases were partially offset by lower accrued incentive compensation balances as a result of the decline in company performance in 2018, lower accrued income tax balances as a result of lower earnings in 2018 and a lower liability for foreign currency forward contracts as the result of a strengthening U. S.  dollar against certain foreign currencies in 2018.
Accounts payable and accrued liabilities were essentially flat in 2017 compared to 2016.
Increases included a tax withholding on the multi-year stock award agreement earned by the Company’s CEO at December 31, 2017 (see note 14 to our consolidated financial statements included within Part II, Item 8 of this 10-K for further discussion), higher accrued dividends and increased accounts payable balances due to timing of payments in 2017.
These increases were offset by lower incentive compensation accruals and other miscellaneous accruals in 2017.
Other liabilities increased 5% in 2018 compared to 2017.
The increase is due to the $258.7 million long-term portion of the repatriation tax liability related to U. S.  Tax Reform passed in the fourth quarter of 2017.
In addition, the Company’s first quarter 2018 decision to terminate its U. S.  defined benefit pension plan resulted in an increase to other liabilities due to a remeasurement of the plans projected benefit obligation, in relation to expected termination costs.
These increases were partially offset by lower long-term balances related to foreign exchange contracts, lower balances related to accrued compensation for non-employee members of the Company’s Board of Directors due to payments made in 2018 and lower liabilities reflecting changes in management judgment with respect to uncertain tax positions.
Other liabilities increased 32% in 2017 compared to 2016.
The increase is primarily due to the $181.3 million estimated repatriation tax liability, which is net of certain foreign tax credits.
This increase is partially offset by a decline of $53.0 million in the funded status of the Company’s pension plan liability, primarily due to a $50.0 million contribution in 2017, as well as a decrease in the long-term tax receivable agreement with Discovery due to the U. S.  federal tax rate reduction that will begin in 2018 as discussed above.
Cash Flow The following table summarizes the changes in the Consolidated Statement of Cash Flows for each of the years ended on December 30, 2018, December 31, 2017 and December 25, 2016.
## Table 0 ##
In 2018, 2017 and 2016, Hasbro generated $646.0 million, $724.4 million and $817.3 million of cash from its operating activities, respectively.
Operating cash flows in 2018, 2017 and 2016 included $132.0 million, $48.0 million
Disaggregation of revenues The Company disaggregates its revenues from contracts with customers by segment: US and Canada, International, Entertainment and Licensing, and Global Operations.
The Company further disaggregates revenues within its International segment by major geographic region: Europe, Latin America, and Asia Pacific.
Finally, the Company disaggregates its revenues by brand portfolio into four brand categories: Franchise brands, Partner brands, Hasbro gaming, and Emerging brands.
We believe these collectively depict how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors.
See note 21, for further information.
(3) Other Comprehensive Earnings (Loss) Components of other comprehensive earnings (loss) are presented within the consolidated statements of comprehensive earnings.
The following table presents the related tax effects on changes in other comprehensive earnings (loss) for each of the three fiscal years ended December 30, 2018.
## Table 1 ##
Changes in the components of accumulated other comprehensive earnings (loss), net of tax are as follows:
## Table 2 ##
In connection with the amendment, the Company and Discovery entered into an option agreement related to the Company’s remaining 40% ownership in the Network, exercisable during the one-year period following December 31, 2021.
The exercise price of the option agreement is based upon 80% of the then fair market value of the Network, subject to a fair market value floor.
At December 30, 2018, and December 31, 2017, the fair market value of this option was $23,440 and $23,980, respectively and was included as a component of other liabilities.
During 2018, 2017 and 2016, the Company recorded (gains) losses of $(540), $(4,790) and $410 in other (income) expense, net relating to the change in fair value of this option.
The Company also has a related liability due to Discovery under the existing tax sharing agreement.
The balance of the associated liability, including imputed interest, was $25,289 and $30,043 at December 30, 2018 and December 31, 2017, respectively, and is included as a component of other liabilities in the accompanying consolidated balance sheets.
The Company recognized a gain of $19,911 in the fourth quarter of 2017 related to a reduction of this liability due to the reduction of the future payments under the agreement as a result of U. S.  tax reform passed in December 2017.
During 2018, 2017 and 2016, the Company made payments under the tax sharing agreement to Discovery of $7,087, $6,785 and $6,520, respectively.
The Company has a license agreement with the Network that requires the payment of royalties by the Company to the Network based on a percentage of revenue derived from products related to television shows broadcast by the joint venture.
The license includes a minimum royalty guarantee of $125,000, which was paid in five annual installments of $25,000 per year, commencing in 2009, which can be earned out over approximately a 12-year period.
As of December 30, 2018 and December 31, 2017, the Company had $41,041 and $55,072, respectively, of prepaid royalties related to this agreement, $13,216 and $15,958, respectively, of which are included in prepaid expenses and other current assets and $27,825 and $39,114, respectively, of which are included in other assets.
The Company and the Network are also parties to an agreement under which the Company will provide the Network with an exclusive first look in the U. S.  to license certain types of programming developed by the Company based on its intellectual property.
In the event the Network licenses the programming from the Company to air, it is required to pay the Company a license fee.
As of December 30, 2018 and December 31, 2017 the Company’s investment in the Network totaled $236,934 and $237,996, respectively.
The Company’s share in the earnings of the Network for the years ended December 30, 2018, December 31, 2017 and December 25, 2016 totaled $21,145, $23,270 and $23,764, respectively and is included as a component of other (income) expense, net in the consolidated statements of operations.
The Company also enters into certain other transactions with the Network including the licensing of television programming and the purchase of advertising.
During 2018, 2017 and 2016, these transactions were not material.
(7) Program Production Costs Program production costs are included in other assets and consist of the following at December 30, 2018 and December 31, 2017:
## Table 3 ##
Based on management’s total revenue estimates at December 30, 2018, $42,389 of $102,139 unamortized programming costs relating to released productions are expected to be amortized during fiscal 2019.
Based on current estimates, the Company expects to amortize all of the programming costs relating to released productions during the next four years.
(8) Financing Arrangements At December 30, 2018, Hasbro had available an unsecured committed line and unsecured uncommitted lines of credit from various banks approximating $1,100,000 and $148,000, respectively.
Substantially all of the short-term
Information with respect to Stock Performance Awards for 2018, 2017 and 2016 is as follows:
## Table 4 ##
Shares granted in 2018 include 14 shares related to the 2016 award, reflecting increases in the ultimate amount of shares to be issued based on the Company’s cumulative results achieved during the performance period.
These shares are excluded from the calculation of the weighted average grant-date fair value of Stock Performance awards granted in 2018.
Similarly, shares granted in 2017 included 227 additional shares related to the 2015 award, and shares granted in 2016 included 276 additional shares related to the 2014 award.
These shares were excluded from the calculation of the weighted average grant-date fair value of Stock Performance awards granted in 2017 and 2016.
During 2018, 2017 and 2016, the Company recognized $842, $27,522 and $34,248, respectively, of expense relating to Stock Performance Awards.
Awards are valued at the market value of the underlying common stock at the dates of grant and are expensed over the performance period.
On a periodic basis, the Company reviews the actual and forecasted performance of the Company against the stated targets for each award.
The total expense is adjusted upward or downward based on the expected amount of shares to be issued as defined in the respective stock performance award agreement.
If minimum targets as detailed under the award are not met, no additional compensation expense will be recognized and any previously recognized compensation expense will be reversed.
During 2018, it was determined that it was no longer probable that targets would be met for certain Stock Performance Awards and, as a result, a portion of the previously recognized expense related to those awards was reversed.
At December 30, 2018, the amount of total unrecognized compensation cost related to these awards is approximately $15,516 and the weighted average period over which this will be expensed is 23 months.
Restricted Stock Units The Company, as part of its annual equity grant to executive officers and certain other employees, issues restricted stock or grants restricted stock units.
These shares or units are nontransferable and subject to forfeiture for periods prescribed by the Company.
These awards are valued at the market value of the underlying common stock at the date of grant and are subsequently amortized over the periods during which the restrictions lapse, generally three years.
During 2018, 2017 and 2016, the Company recognized compensation expense, net of forfeitures, on these awards of $17,897, $20,573 and $19,908, respectively.
At December 30, 2018, the amount of total unrecognized compensation cost related to restricted stock units is $25,152 and the weighted average period over which this will be expensed is 23 months.
In October 2012, as part of an Amended and Restated Employment Agreement, (the “Agreement”), the Company’s Chief Executive Officer was awarded 587 shares to be granted in two tranches across 2013 and 2014, which were expensed from 2013 through 2017.
These awards provided the recipient with the ability to earn shares of the Company’s common stock based on the Company’s achievement of four stated stock price hurdles and continued employment through December 31, 2017.
In August 2014, the Agreement was further amended to include additional requirements.
Specifically, if the third and fourth stock price hurdles were achieved, the number of shares ultimately issued was dependent on the average stock price for the thirty day period immediately prior to December 31, 2017.
This amendment did not result in any incremental fair value to the award which was used to record compensation expense for the award.
At December 31, 2017, all requirements of the Agreement were met and 587 shares were issued.
In addition to generating sales of our products, our worldwide full-price stores set, reinforce and capitalize on the image of our brands.
Our stores range in size from approximately 800 to over 37,500 square feet.
These fullprice stores are situated in major upscale street locations and upscale regional malls, generally in large urban markets.
We generally lease our stores for initial periods ranging from 5 to 10 years with renewal options.
We extend our reach to additional consumer groups through our 163 Polo Ralph Lauren factory stores worldwide.
During Fiscal 2009, we added 5 new Polo Ralph Lauren factory stores, net.
Our factory stores are generally located in outlet malls.
We operated the following factory retail stores as of March 28, 2009:

<table><tr><td></td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>Net cash provided by (used in)</td><td></td><td></td><td></td></tr><tr><td>Operating Activities</td><td>$646.0</td><td>724.4</td><td>817.3</td></tr><tr><td>Investing Activities</td><td>-286.5</td><td>-131.5</td><td>-138.4</td></tr><tr><td>Financing Activities</td><td>-737.1</td><td>-312.2</td><td>-375.5</td></tr></table>
<table><tr><td></td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>Other comprehensive earnings (loss), tax effect:</td><td></td><td></td><td></td></tr><tr><td>Tax benefit (expense) on unrealized holding gains</td><td>$581</td><td>221</td><td>-94</td></tr><tr><td>Tax (expense) benefit on cash flow hedging activities</td><td>-930</td><td>4,850</td><td>1,340</td></tr><tr><td>Tax benefit (expense) on unrecognized pension and postretirement amounts</td><td>6,085</td><td>-2,363</td><td>12,945</td></tr><tr><td>Reclassifications to earnings, tax effect:</td><td></td><td></td><td></td></tr><tr><td>Tax expense (benefit) on cash flow hedging activities</td><td>817</td><td>-4,881</td><td>4,098</td></tr><tr><td>Tax benefit on amortization of unrecognized pension and postretirement amounts reclassified to the consolidated statements ofoperations</td><td>-2,729</td><td>-3,482</td><td>-3,038</td></tr><tr><td>Total tax effect on other comprehensive earnings (loss)</td><td>$3,824</td><td>-5,655</td><td>15,251</td></tr></table>
<table><tr><td></td><td>Pension and Postretirement Amounts</td><td>Gains (Losses) on Derivative Instruments</td><td>Unrealized Holding Gainson Available for-Sale Securities</td><td>Foreign Currency Translation Adjustments</td><td>Total Accumulated Other Comprehensive Earnings (Loss)</td></tr><tr><td>2018</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance at December 31, 2017</td><td>$-110,971</td><td>-32,827</td><td>1,034</td><td>-96,661</td><td>-239,425</td></tr><tr><td>Adoption of ASU2018-02</td><td>-18,065</td><td>-3,660</td><td>222</td><td>—</td><td>-21,503</td></tr><tr><td>Current period other comprehensive earnings (loss)</td><td>-23,763</td><td>36,107</td><td>-2,000</td><td>-55,524</td><td>-45,180</td></tr><tr><td>Reclassifications from AOCE to earnings</td><td>9,665</td><td>1,929</td><td>—</td><td>—</td><td>11,594</td></tr><tr><td>Balance at December 30, 2018</td><td>$-143,134</td><td>1,549</td><td>-744</td><td>-152,185</td><td>-294,514</td></tr><tr><td>2017</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance at December 25, 2016</td><td>$-118,401</td><td>51,085</td><td>1,424</td><td>-128,678</td><td>-194,570</td></tr><tr><td>Current period other comprehensive earnings (loss)</td><td>1,555</td><td>-90,302</td><td>-390</td><td>32,017</td><td>-57,120</td></tr><tr><td>Reclassifications from AOCE to earnings</td><td>5,875</td><td>6,390</td><td>—</td><td>—</td><td>12,265</td></tr><tr><td>Balance at December 31, 2017</td><td>$-110,971</td><td>-32,827</td><td>1,034</td><td>-96,661</td><td>-239,425</td></tr><tr><td>2016</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Balance at December 27, 2015</td><td>$-102,931</td><td>79,317</td><td>1,258</td><td>-123,645</td><td>-146,001</td></tr><tr><td>Current period other comprehensive earnings (loss)</td><td>-20,829</td><td>25,748</td><td>166</td><td>-5,033</td><td>52</td></tr><tr><td>Reclassifications from AOCE to earnings</td><td>5,359</td><td>-53,980</td><td>—</td><td>—</td><td>-48,621</td></tr><tr><td>Balance at December 25, 2016</td><td>$-118,401</td><td>51,085</td><td>1,424</td><td>-128,678</td><td>-194,570</td></tr></table>
<table><tr><td></td><td> 2018</td><td> 2017</td></tr><tr><td>Television programming</td><td></td><td></td></tr><tr><td>Released, less amortization</td><td>$30,800</td><td>40,386</td></tr><tr><td>In production</td><td>42,768</td><td>31,596</td></tr><tr><td>Pre-production</td><td>489</td><td>326</td></tr><tr><td>Theatrical programming</td><td></td><td></td></tr><tr><td>Released, less amortization</td><td>71,339</td><td>16,027</td></tr><tr><td>In production</td><td>9,503</td><td>—</td></tr><tr><td>Pre-production</td><td>2,452</td><td>4,526</td></tr><tr><td>Total program production costs</td><td>$157,351</td><td>92,861</td></tr></table>
<table><tr><td></td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>Outstanding at beginning of year</td><td>900</td><td>1,074</td><td>992</td></tr><tr><td>Granted</td><td>250</td><td>428</td><td>529</td></tr><tr><td>Forfeited</td><td>-49</td><td>-28</td><td>-23</td></tr><tr><td>Vested</td><td>-468</td><td>-574</td><td>-424</td></tr><tr><td>Outstanding at end of year</td><td>633</td><td>900</td><td>1,074</td></tr><tr><td>Weighted average grant-date fair value:</td><td></td><td></td><td></td></tr><tr><td>Granted</td><td>$88.18</td><td>99.58</td><td>74.69</td></tr><tr><td>Forfeited</td><td>$86.27</td><td>74.86</td><td>61.86</td></tr><tr><td>Vested</td><td>$61.86</td><td>52.21</td><td>47.21</td></tr><tr><td>Outstanding at end of year</td><td>$86.58</td><td>77.27</td><td>62.19</td></tr></table>

Question: Which year is Tax benefit (expense) on unrealized holding gains greater than 500?
Answer: 2018