THE AES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) DECEMBER 31, 2012, 2011, AND 2010 (1) A U. S.  subsidiary of the Company has a defined benefit obligation of $764 million and $679 million as of December 31, 2012 and 2011, respectively, and uses salary bands to determine future benefit costs rather than rates of compensation increases.
Rates of compensation increases in the table above do not include amounts related to this specific defined benefit plan.
(2) Includes an inflation factor that is used to calculate future periodic benefit cost, but is not used to calculate the benefit obligation.
The Company establishes its estimated long-term return on plan assets considering various factors, which include the targeted asset allocation percentages, historic returns and expected future returns.
The measurement of pension obligations, costs and liabilities is dependent on a variety of assumptions.
These assumptions include estimates of the present value of projected future pension payments to all plan participants, taking into consideration the likelihood of potential future events such as salary increases and demographic experience.
These assumptions may have an effect on the amount and timing of future contributions.
The assumptions used in developing the required estimates include the following key factors: ?
discount rates; ?
salary growth; ?
retirement rates; ?
inflation; ?
expected return on plan assets; and ?
mortality rates.
The effects of actual results differing from the Company’s assumptions are accumulated and amortized over future periods and, therefore, generally affect the Company’s recognized expense in such future periods.
Sensitivity of the Company’s pension funded status to the indicated increase or decrease in the discount rate and long-term rate of return on plan assets assumptions is shown below.
Note that these sensitivities may be asymmetric and are specific to the base conditions at year-end 2012.
They also may not be additive, so the impact of changing multiple factors simultaneously cannot be calculated by combining the individual sensitivities shown.
The funded status as of December 31, 2012 is affected by the assumptions as of that date.
Pension expense for 2012 is affected by the December 31, 2011 assumptions.
The impact on pension expense from a one percentage point change in these assumptions is shown in the table below (in millions):
## Table 0 ##
Looking ahead to the first quarter of 2017, compared with the fourth quarter of 2016 sales volumes are expected to be lower for containerboard and sheets, but higher for boxes.
Average sales margins should improve reflecting a sales price increase for boxes.
Input costs are expected to be slightly lower, but offset by higher operating costs.
Planned maintenance downtime costs are expected to be $1 million higher.
## Table 1 ##
Asian Industrial Packaging's sales volumes in the first half of 2016 for boxes were higher than the comparable period in 2015, but average sales margins were lower due to competitive pressures and weak economic conditions.
On June 30, 2016, the Company completed the sale of its corrugated packaging business in China and Southeast Asia to Xiamen Bridge Hexing Equity Investment Partnership Enterprise.
See Note 7 Divestitures / Spinoff on pages 56 and 57 of Item 8.
Financial Statements and Supplementary Data for further discussion of the sale of this business.
Net sales and operating profits beginning with the third quarter of 2016 reflect the results of the distribution operations of the business.
Global Cellulose Fibers Demand for Cellulose Fibers products is closely correlated with changes in demand for absorbent hygiene products and is further affected by changes in currency rates that can benefit or hurt producers in different geographic regions.
Principal cost drivers include manufacturing efficiency, raw material and energy costs and freight costs.
## Table 2 ##
Global Cellulose Fibers results for 2016 include net sales of $111 million and an operating loss of $(21) million (including $38 million of special items) associated with the newly acquired pulp business from the date of acquisition on December 1, 2016.
See Note 6 Acquisitions and Joint Ventures on pages 54 through 56 of Item 8.
Financial Statements and Supplementary Data for additional information about the acquisition.
Net sales for 2016 increased 12% to $1.1 billion compared with $975 million in 2015 and 4% compared with $1.0 billion in 2014.
Operating profits in 2016 were significantly lower than in both 2015 and 2014.
Comparing 2016 with 2015, benefits from higher sales volumes ($10 million), lower input costs ($6 million), and lower other costs ($1 million) were offset by lower average sales price realizations and mix ($36 million), higher operating costs ($59 million) and higher planned maintenance downtime costs ($38 million).
In addition, special items expense in 2016 was $50 million.
Sales volumes for the legacy business were higher for both fluff and market pulp.
Average sales margins decreased, reflecting lower sales price realizations for both fluff pulp and softwood market pulp and an unfavorable mix resulting from the Riegelwood conversion and ramp-up.
In Europe and Russia, average sales margins decreased due to competitive pressures.
Input costs were slightly lower.
Planned maintenance downtime costs were $38 million higher in 2016 primarily related to the Riegelwood mill.
Operating costs were higher due to costs associated with the Riegelwood mill conversion.
Entering the first quarter of 2017, sales volumes will be higher due to the full-quarter impact of the acquisition.
Average sales price realizations are expected to be stable and mix will continue to be challenged due to the ramp-up of the Riegelwood mill.
Input costs are expected to increase primarily for wood.
Planned maintenance downtime costs should be $47 million higher than in the fourth quarter of 2016 due to a large outage and capital investment project to upgrade the recovery boiler, turbine and power system at our Port Wentworth mill.
Printing Papers Demand for Printing Papers products is closely correlated with changes in commercial printing and advertising activity, direct mail volumes and, for uncoated cut-size products, with changes in whitecollar employment levels that affect the usage of copy and laser printer paper.
Principal cost drivers include manufacturing efficiency, raw material and energy costs and freight costs.
MetLife, Inc.  Notes to the Consolidated Financial Statements — (Continued) Set forth in the tables below is certain financial information with respect to the Company’s segments, as well as Corporate & Other, for the years ended December 31, 2008, 2007 and 2006.
The accounting policies of the segments are the same as those of the Company, except for the method of capital allocation and the accounting for gains (losses) from intercompany sales, which are eliminated in consolidation.
The Company allocates equity to each segment based upon the economic capital model that allows the Company to effectively manage its capital.
The Company evaluates the performance of each segment based upon net income excluding net investment gains (losses), net of income tax, adjustments related to net investment gains (losses), net of income tax, the impact from the cumulative effect of changes in accounting, net of income tax and discontinued operations, other than discontinued real estate, net of income tax, less preferred stock dividends.
The Company allocates certain non-recurring items, such as expenses associated with certain legal proceedings, to Corporate & Other.
## Table 3 ##

<table><tr><td>Increase of 1% in the discount rate</td><td>$-48</td></tr><tr><td>Decrease of 1% in the discount rate</td><td>38</td></tr><tr><td>Increase of 1% in the long-term rate of return on plan assets</td><td>-47</td></tr><tr><td>Decrease of 1% in the long-term rate of return on plan assets</td><td>47</td></tr></table>
<table><tr><td>In millions</td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>Net Sales</td><td>$505</td><td>$601</td><td>$625</td></tr><tr><td>Operating Profit (Loss)</td><td>$-78</td><td>$-6</td><td>$-112</td></tr><tr><td>Asia Packaging restructuring and impairment</td><td>70</td><td>—</td><td>7</td></tr><tr><td>Asia Packaging goodwill impairment</td><td>—</td><td>—</td><td>100</td></tr><tr><td>Operating Profit Before Special Items</td><td>$-8</td><td>$-6</td><td>$-5</td></tr></table>
<table><tr><td>In millions</td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>Net Sales</td><td>$1,092</td><td>$975</td><td>$1,046</td></tr><tr><td>Operating Profit (Loss)</td><td>$-180</td><td>$68</td><td>$61</td></tr><tr><td>Acquisition costs</td><td>31</td><td>—</td><td>—</td></tr><tr><td>Inventory fair value step-up amortization</td><td>19</td><td>—</td><td>—</td></tr><tr><td>Operating Profit Before Special Items</td><td>$-130</td><td>$68</td><td>$61</td></tr></table>
<table><tr><td> For the Year Ended </td><td></td><td></td><td></td><td rowspan="2">Auto & Home</td><td rowspan="2">Corporate & Other</td><td></td></tr><tr><td> December 31, 2008</td><td> Institutional</td><td>Individual</td><td> International</td><td>Total</td></tr><tr><td></td><td colspan="6">(In millions)</td></tr><tr><td> Statement of Income:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td> Revenues</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Premiums</td><td>$14,964</td><td>$4,481</td><td>$3,470</td><td>$2,971</td><td>$28</td><td>$25,914</td></tr><tr><td>Universal life and investment-type product policy fees</td><td>886</td><td>3,400</td><td>1,095</td><td>—</td><td>—</td><td>5,381</td></tr><tr><td>Net investment income</td><td>7,535</td><td>6,509</td><td>1,249</td><td>186</td><td>817</td><td>16,296</td></tr><tr><td>Other revenues</td><td>775</td><td>571</td><td>18</td><td>38</td><td>184</td><td>1,586</td></tr><tr><td>Net investment gains (losses)</td><td>168</td><td>665</td><td>167</td><td>-135</td><td>947</td><td>1,812</td></tr><tr><td>Total revenues</td><td>24,328</td><td>15,626</td><td>5,999</td><td>3,060</td><td>1,976</td><td>50,989</td></tr><tr><td> Expenses</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Policyholder benefits and claims</td><td>16,525</td><td>5,779</td><td>3,166</td><td>1,919</td><td>48</td><td>27,437</td></tr><tr><td>Interest credited to policyholder account balances</td><td>2,581</td><td>2,028</td><td>171</td><td>—</td><td>7</td><td>4,787</td></tr><tr><td>Policyholder dividends</td><td>—</td><td>1,739</td><td>7</td><td>5</td><td>—</td><td>1,751</td></tr><tr><td>Other expenses</td><td>2,408</td><td>5,143</td><td>1,671</td><td>804</td><td>1,898</td><td>11,924</td></tr><tr><td>Total expenses</td><td>21,514</td><td>14,689</td><td>5,015</td><td>2,728</td><td>1,953</td><td>45,899</td></tr><tr><td>Income from continuing operations before provision for income tax</td><td>2,814</td><td>937</td><td>984</td><td>332</td><td>23</td><td>5,090</td></tr><tr><td>Provision for income tax</td><td>955</td><td>307</td><td>404</td><td>57</td><td>-143</td><td>1,580</td></tr><tr><td>Income from continuing operations</td><td>1,859</td><td>630</td><td>580</td><td>275</td><td>166</td><td>3,510</td></tr><tr><td>Income (loss) from discontinued operations, net of income tax</td><td>3</td><td>-11</td><td>—</td><td>—</td><td>-293</td><td>-301</td></tr><tr><td>Net income</td><td>1,862</td><td>619</td><td>580</td><td>275</td><td>-127</td><td>3,209</td></tr><tr><td>Preferred stock dividends</td><td>—</td><td>—</td><td>—</td><td>—</td><td>125</td><td>125</td></tr><tr><td>Net income available to common shareholders</td><td>$1,862</td><td>$619</td><td>$580</td><td>$275</td><td>$-252</td><td>$3,084</td></tr><tr><td> Balance Sheet:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total assets</td><td>$195,191</td><td>$214,476</td><td>$25,891</td><td>$5,232</td><td>$60,888</td><td>$501,678</td></tr><tr><td>DAC and VOBA</td><td>$1,013</td><td>$16,505</td><td>$2,436</td><td>$183</td><td>$7</td><td>$20,144</td></tr><tr><td>Goodwill</td><td>$1,051</td><td>$2,957</td><td>$373</td><td>$157</td><td>$470</td><td>$5,008</td></tr><tr><td>Separate account assets</td><td>$46,912</td><td>$69,456</td><td>$4,471</td><td>$—</td><td>$—</td><td>$120,839</td></tr><tr><td>Policyholder liabilities</td><td>$133,816</td><td>$123,610</td><td>$16,122</td><td>$3,126</td><td>$12,471</td><td>$289,145</td></tr><tr><td>Separate account liabilities</td><td>$46,912</td><td>$69,456</td><td>$4,471</td><td>$—</td><td>$—</td><td>$120,839</td></tr></table>

Question: what was the net reduction in defined benefit obligations between december 31 , 2012 and 2011 , in millions?
Answer: 85.0