## Table 0 ##
As of December 31, 2015, Con Edison reasonably expects to resolve approximately $25 million ($16 million, net of federal taxes) of its uncertainties related to certain tax matters within the next twelve months.
Favorable resolution would reduce Con Edison’s effective tax rate.
The amount related to CECONY is approximately $2 million ($1 million, net of federal taxes), of which the entire amount, if recognized, would reduce CECONY’s effective tax rate.
The Companies recognize interest on liabilities for uncertain tax positions in interest expense and would recognize penalties, if any, in operating expenses in the Companies’ consolidated income statements.
In 2015 and 2014, the Companies recognized an immaterial amount of interest and no penalties for uncertain tax positions in their consolidated income statements.
In 2013, Con Edison recognized $121 million of interest expense ($131 million related to the LILO transactions (see “Lease In/Lease Out Transactions” in Note J), less a reduction of $10 million in accrued interest expense primarily associated with repair allowance deductions and reversing other uncertain tax positions in 2013).
At December 31, 2015 and 2014, the Companies recognized an immaterial amount of interest and no penalties in their consolidated balance sheets.
At December 31, 2015, the total amount of unrecognized tax benefits that, if recognized, would reduce the Companies’ effective tax rate is $34 million ($22 million, net of federal taxes) with $2 million ($1 million, net of federal taxes) attributable to CECONY.
The federal tax returns for 2012 through 2014 remain open for examinations.
State income tax returns remain open for examination in New York for tax years 2006 through 2014 and in New Jersey for tax years 2008 through 2014.
Note M – Stock-Based Compensation The Companies may compensate employees and directors with, among other things, stock options, stock units, restricted stock units and contributions to the stock purchase plan.
The Long Term Incentive Plan, which was approved by Con Edison’s shareholders in 2003 (2003 LTIP), and the Long Term Incentive Plan, which was approved by Con Edison’s shareholders in 2013 (2013 LTIP), are collectively referred to herein as the LTIP.
The LTIP provides for, among other things, awards to employees of restricted stock units and stock options and, to Con Edison’s non-employee directors, stock units.
Existing awards under the 2003 LTIP continue in effect, however no new awards may be issued under the 2003 LTIP.
The 2013 LTIP provides for awards for up to five million shares of common stock.
Shares of Con Edison common stock used to satisfy the Companies’ obligations with respect to stock-based compensation may be new (authorized, but unissued) shares, treasury shares or shares purchased in the open market.
The shares used during the year ended December 31, 2015 were treasury shares and new shares.
The Companies intend to use new shares to fulfill their stock-based compensation obligations for 2016.
The Companies recognized stock-based compensation expense using a fair value measurement method.
The following table summarizes stock-based compensation expense recognized by the Companies in the years ended December 31, 2015, 2014 and 2013
NVIDIA CORPORATION AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Continued) The amount of goodwill allocated to our GPU and Tegra Processor segments as of January 26, 2014 was $230.4 million and $412.8 million, respectively, and as of January 27, 2013 was $228.2 million and $412.8 million, respectively.
Please refer to Note 16 of these Notes to the Consolidated Financial Statements for further discussion regarding segments.
We allocate goodwill to our reporting units and perform our annual impairment test during the fourth quarter of our fiscal year, or earlier if indicators of potential impairment exist.
For the purposes of completing our impairment test, we perform either a qualitative or a quantitative analysis on a reporting unit basis.
We utilized a quantitative analysis to complete our most recent annual impairment test during the fourth quarter of fiscal year 2014 and concluded that there was no impairment, as the fair value of our reporting units exceeded their carrying values.
In a qualitative analysis, we evaluate factors including, but not limited to, macro-economic conditions, market and industry conditions, the competitive environment, the operational stability and the overall financial performance of the reporting units, including cost factors and actual revenue results.
For reporting units in which the qualitative assessment concludes it is more likely than not that the fair value is more than its carrying value, no further goodwill impairment testing is required.
For those reporting units where a significant change or event has occurred, where potential impairment indicators exist, or for which we have not performed a quantitative assessment recently, we utilize a two-step quantitative assessment to testing goodwill for impairment.
The first step tests for possible impairment by applying a fair value-based test by weighing the results from the income approach and the market approach.
These valuation approaches consider a number of factors that include, but are not limited to, prospective financial information, growth rates, terminal or residual values, discount rates and comparable multiples from publicly traded companies in our industry and require us to make certain assumptions and estimates regarding industry economic factors and the future profitability of our business.
When performing an income approach valuation, we incorporate the use of projected financial information and a discount rate that are developed using market participant based assumptions to our discounted cash flow model.
Our estimates of discounted cash flow were based upon, among other things, certain assumptions about our expected future operating performance, such as revenue growth rates, operating margins, risk-adjusted discount rates, and future economic and market conditions.
The market method of determining the fair value of our reporting units requires us to use judgment in the selection of appropriate market comparables.
Note 6 - Amortizable Intangible Assets The components of our amortizable intangible assets are as follows:
## Table 1 ##
Amortization expense associated with intangible assets for fiscal years 2014, 2013 and 2012 was $72.7 million, $68.4 million and $59.0 million, respectively.
Amortization expense increased compared to the prior year primarily due to the
VORNADO REALTY TRUST NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) 154 10.
Redeemable Noncontrolling Interests - continued Redeemable noncontrolling interests on our consolidated balance sheets are recorded at the greater of their carrying amount or redemption value at the end of each reporting period.
Changes in the value from period to period are charged to “additional capital” in our consolidated statements of changes in equity.
Below is a table summarizing the activity of redeemable noncontrolling interests.
## Table 2 ##
Redeemable noncontrolling interests exclude our Series G convertible preferred units and Series D-13 cumulative redeemable preferred units, as they are accounted for as liabilities in accordance with ASC 480, Distinguishing Liabilities and Equity, because of their possible settlement by issuing a variable number of Vornado common shares.
Accordingly, the fair value of these units is included as a component of “other liabilities” on our consolidated balance sheets and aggregated $54,865,000 and $55,097,000 as of December 31, 2011 and 2010, respectively.

<table><tr><td></td><td colspan="3">Con Edison</td><td colspan="3">CECONY</td></tr><tr><td>(Millions of Dollars)</td><td>2015</td><td>2014</td><td>2013</td><td>2015</td><td>2014</td><td>2013</td></tr><tr><td>Balance at January 1,</td><td>$34</td><td>$9</td><td>$86</td><td>$2</td><td>$—</td><td>$74</td></tr><tr><td>Additions based on tax positions related to the current year</td><td>—</td><td>—</td><td>5</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Additions based on tax positions of prior years</td><td>1</td><td>27</td><td>253</td><td>—</td><td>2</td><td>—</td></tr><tr><td>Reductions for tax positions of prior years</td><td>—</td><td>-2</td><td>-86</td><td>—</td><td>—</td><td>-74</td></tr><tr><td>Reductions from expiration of statute of limitations</td><td>-1</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Settlements</td><td>—</td><td>—</td><td>-249</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Balance at December 31,</td><td>$34</td><td>$34</td><td>$9</td><td>$2</td><td>$2</td><td>$—</td></tr></table>
<table><tr><td></td><td colspan="4">January 26, 2014</td><td colspan="4">January 27, 2013</td></tr><tr><td></td><td>GrossCarryingAmount</td><td>AccumulatedAmortization</td><td>NetCarryingAmount</td><td>Weighted AverageUseful Life</td><td>GrossCarryingAmount</td><td>AccumulatedAmortization</td><td>NetCarryingAmount</td><td>Weighted Average Useful Life</td></tr><tr><td></td><td colspan="3">(In thousands)</td><td>(In years)</td><td colspan="3">(In thousands)</td><td>(In years)</td></tr><tr><td>Acquisition-related intangible assets</td><td>$189,239</td><td>$-114,104</td><td>$75,135</td><td>6.5</td><td>$172,039</td><td>$-96,389</td><td>$75,650</td><td>6.9</td></tr><tr><td>Patents and licensed technology</td><td>446,196</td><td>-225,319</td><td>220,877</td><td>7.2</td><td>407,002</td><td>-170,320</td><td>236,682</td><td>7.0</td></tr><tr><td>Total intangible assets</td><td>$635,435</td><td>$-339,423</td><td>$296,012</td><td></td><td>$579,041</td><td>$-266,709</td><td>$312,332</td><td></td></tr></table>
<table><tr><td>Balance at December 31, 2009</td><td>$1,251,628</td></tr><tr><td>Net income</td><td>55,228</td></tr><tr><td>Distributions</td><td>-53,515</td></tr><tr><td>Conversion of Class A units into common shares, at redemption value</td><td>-126,764</td></tr><tr><td>Adjustment to carry redeemable Class A units at redemption value</td><td>191,826</td></tr><tr><td>Redemption of Series D-12 redeemable units</td><td>-13,000</td></tr><tr><td>Other, net</td><td>22,571</td></tr><tr><td>Balance at December 31, 2010</td><td>1,327,974</td></tr><tr><td>Net income</td><td>55,912</td></tr><tr><td>Distributions</td><td>-50,865</td></tr><tr><td>Conversion of Class A units into common shares, at redemption value</td><td>-64,830</td></tr><tr><td>Adjustment to carry redeemable Class A units at redemption value</td><td>-98,092</td></tr><tr><td>Redemption of Series D-11 redeemable units</td><td>-28,000</td></tr><tr><td>Other, net</td><td>18,578</td></tr><tr><td>Balance at December 31, 2011</td><td>$1,160,677</td></tr></table>

Question: What's the 2015 growth rate of Balance at January 1 of Con Edison?
Answer: 2.77778