Our Digital Media business consists of our websites and mobile and video-on-demand (“VOD”) services.
Our websites include network branded websites such as Discovery.
com, TLC.
com and AnimalPlanet.
com, and other websites such as HowStuffWorks.
com, an online source of explanations of how the world actually works; Treehugger.
com, a comprehensive source for “green” news, solutions and product information; and Petfinder.
com, a leading pet adoption destination.
Together, these websites attracted an average of 24 million cumulative unique monthly visitors, according to comScore, Inc.  in 2011.  INTERNATIONAL NETWORKS Our International Networks segment principally consists of national and pan-regional television networks.
This segment generates revenues primarily from fees charged to operators who distribute our networks, which primarily include cable and DTH satellite service providers, and from advertising sold on our television networks and websites.
Discovery Channel, Animal Planet and TLC lead the International Networks’ portfolio of television networks, which are distributed in virtually every pay-television market in the world through an infrastructure that includes operational centers in London, Singapore and Miami.
International Networks has one of the largest international distribution platforms of networks with one to twelve networks in more than 200 countries and territories around the world.
At December 31, 2011, International Networks operated over 150 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities.
Our International Networks segment owns and operates the following television networks which reached the following number of subscribers as of December 31, 2011:
## Table 0 ##
EDUCATION AND OTHER Our Education and Other segment primarily includes the sale of curriculum-based product and service offerings and postproduction audio services.
This segment generates revenues primarily from subscriptions charged to K-12 schools for access to an online suite of curriculum-based VOD tools, professional development services, and to a lesser extent student assessment and publication of hardcopy curriculum-based content.
Our education business also participates in corporate partnerships, global brand and content licensing business with leading non-profits, foundations and trade associations.
Other businesses primarily include postproduction audio services that are provided to major motion picture studios, independent producers, broadcast networks, cable channels, advertising agencies, and interactive producers.
CONTENT DEVELOPMENT Our content development strategy is designed to increase viewership, maintain innovation and quality leadership, and provide value for our network distributors and advertising customers.
Substantially all content is sourced from a wide range of third-party producers, which includes some of the world’s leading nonfiction production companies with which we have developed long-standing relationships, as well as independent producers.
Our production arrangements fall into three categories: produced, coproduced and licensed.
Substantially all produced content includes programming which we engage third parties to develop and produce while we retain editorial control and own most or all of the rights in exchange for paying all development and production costs.
Coproduced content refers to program rights acquired that we have collaborated with third parties to finance and develop.
Coproduced programs are typically high-cost projects for which neither we nor our coproducers wish to bear the entire cost or productions in which the producer has already taken on an international broadcast partner.
Licensed content is comprised of films or series that have been previously produced by third parties.
The following table presents the carrying value of the plan assets, including major security type for equity and debt securities, which are measured at fair value as of December 31, 2013 :
## Table 1 ##
The following is a description of the valuation methodologies used for each major category of plan assets measured at fair value.
Information about the valuation hierarchy levels used to measure fair value is detailed in Note 2 , “Fair Value of Assets and Liabilities.
” Cash and cash equivalents Cash equivalents include cash investments in money market funds and time deposits.
Cash investments in money market funds are valued under the market approach through the use of quoted market prices in an active market, which is the net asset value of the underlying funds, and are classified within level 1 of the valuation hierarchy.
Cash investments in time deposits of $3.8 million held at December 31, 2014 ( December 31, 2013 : $4.1 million ) are not included in the table above, as they are not measured at fair value on a recurring basis.
Time deposits are valued at cost plus accrued interest, which approximates fair value.
Fund investments These plan assets are primarily invested in affiliated funds and are classified within level 1 of the valuation hierarchy.
They are valued at the net asset value of shares held by the plan at year end.
Equity securities, corporate debt securities and other investments These plan assets are classified within level 1 of the valuation hierarchy and are valued at the closing price reported on the active market on which the individual securities are traded.
Government debt securities Government debt securities that have a readily available market price are classified within level 1 of the valuation hierarchy.
These securities are valued at the closing price reported on the active market on which the individual securities are traded.
Government debt securities that include index-linked bonds are classified within level 2 of the valuation hierarchy.
Prices for these bonds are calculated using the relevant index ratio.
Guaranteed investment contracts These plan assets are classified within level 3 of the valuation hierarchy and are valued through use of unobservable inputs by discounting the related cash flows based on current yields of similar instruments with comparable durations considering the credit-worthiness of the issuer.
The following table shows a reconciliation of the beginning and ending fair value measurement for level 3 assets, which is comprised solely of the guaranteed investment contracts, using significant unobservable inputs:
## Table 2 ##
17 .
GEOGRAPHIC INFORMATION The company operates under one business segment, investment management.
Geographical information is presented below.
There are no revenues or long-lived assets attributed to the company's country of domicile,
## Table 3 ##
Operating revenues reflect the geographical regions from which services are provided.18 .
COMMITMENTS AND CONTINGENCIES Commitments and contingencies may arise in the ordinary course of business.
Off Balance Sheet Commitments The company has transactions with various private equity, real estate and other investment entities sponsored by the company for the investment of client assets in the normal course of business.
Certain of the company's investment products are structured as limited partnerships.
The company's investment may take the form of the general partner or a limited partner.
The entities are structured such that each partner makes capital commitments that are to be drawn down over the life of the partnership as investment opportunities are identified.
At December 31, 2014 , the company's undrawn capital and purchase commitments were $158.8 million ( December 31, 2013 : $152.5 million ).
The Parent and various company subsidiaries have entered into agreements with financial institutions to guarantee certain obligations of other company subsidiaries.
The company would be required to perform under these guarantees in the event of certain defaults.
The company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.
Legal Contingencies The company is from time to time involved in litigation relating to claims arising in the ordinary course of its business.
The nature and progression of litigation can make it difficult to predict the impact a particular lawsuit will have on the company.
There are many reasons that the company cannot make these assessments, including, among others, one or more of the following: the proceeding is in its early stages; the damages sought are unspecified, unsupportable, unexplained or uncertain; the claimant is seeking relief other than compensatory damages; the matter presents novel legal claims or other meaningful legal uncertainties; discovery has not started or is not complete; there are significant facts in dispute; and there are other parties who may share in any ultimate liability.

<table><tr><td>Global Networks</td><td>International Subscribers  (millions)</td><td>Regional Networks</td><td>International Subscribers  (millions)</td></tr><tr><td>Discovery Channel</td><td>213</td><td>DMAX</td><td>47</td></tr><tr><td>Animal Planet</td><td>166</td><td>Discovery Kids</td><td>37</td></tr><tr><td>TLC, Real Time and Travel & Living</td><td>150</td><td>Liv</td><td>29</td></tr><tr><td>Discovery Science</td><td>66</td><td>Quest</td><td>23</td></tr><tr><td>Discovery Home & Health</td><td>48</td><td>Discovery History</td><td>13</td></tr><tr><td>Turbo</td><td>37</td><td>Shed</td><td>12</td></tr><tr><td>Discovery World</td><td>27</td><td>Discovery en Espanol (U.S.)</td><td>5</td></tr><tr><td>Investigation Discovery</td><td>23</td><td>Discovery Famillia (U.S.)</td><td>4</td></tr><tr><td>HD Services</td><td>17</td><td></td><td></td></tr></table>
<table><tr><td></td><td colspan="4">As of December 31, 2013</td></tr><tr><td>$ in millions</td><td>Fair Value Measurements</td><td>Quoted Prices in Active Markets for Identical Assets (Level 1)</td><td>Significant Other Observable Inputs (Level 2)</td><td>Significant Unobservable Inputs (Level 3)</td></tr><tr><td>Cash and cash equivalents</td><td>0.2</td><td>0.2</td><td>—</td><td>—</td></tr><tr><td>Fund investments</td><td>202.8</td><td>202.8</td><td>—</td><td>—</td></tr><tr><td>Equity securities</td><td>122.8</td><td>122.8</td><td>—</td><td>—</td></tr><tr><td>Government debt securities</td><td>65.6</td><td>12.7</td><td>52.9</td><td>—</td></tr><tr><td>Other assets</td><td>6.4</td><td>6.4</td><td>—</td><td>—</td></tr><tr><td>Guaranteed investment contracts</td><td>15.2</td><td>—</td><td>—</td><td>15.2</td></tr><tr><td>Total</td><td>413.0</td><td>344.9</td><td>52.9</td><td>15.2</td></tr></table>
<table><tr><td>$ in millions</td><td>Year ended December 31, 2014</td><td>Year ended December 31, 2013</td></tr><tr><td>Balance, beginning of year</td><td>15.2</td><td>14.8</td></tr><tr><td>Unrealized gains/(losses) relating to the instrument still held at the reporting date</td><td>1.0</td><td>1.1</td></tr><tr><td>Purchases, sales, issuances and settlements (net)</td><td>-3.1</td><td>-0.7</td></tr><tr><td>Balance, end of year</td><td>13.1</td><td>15.2</td></tr></table>
<table><tr><td>$ in millions</td><td>U.S.</td><td>U.K.</td><td>Continental Europe/Ireland</td><td>Canada</td><td>Asia</td><td>Total</td></tr><tr><td>For the year ended December 31, 2014</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Revenue from external customers</td><td>2,534.9</td><td>1,286.7</td><td>810.2</td><td>396.6</td><td>118.7</td><td>5,147.1</td></tr><tr><td>Inter-company revenue</td><td>11.5</td><td>87.8</td><td>-205.5</td><td>-8.9</td><td>115.1</td><td>—</td></tr><tr><td>Total operating revenues</td><td>2,546.4</td><td>1,374.5</td><td>604.7</td><td>387.7</td><td>233.8</td><td>5,147.1</td></tr><tr><td>Long-lived assets</td><td>279.2</td><td>91.6</td><td>6.6</td><td>9.9</td><td>15.3</td><td>402.6</td></tr><tr><td>For the year ended December 31, 2013</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Revenue from external customers</td><td>2,332.2</td><td>1,294.0</td><td>541.9</td><td>374.8</td><td>101.7</td><td>4,644.6</td></tr><tr><td>Inter-company revenue</td><td>-3.6</td><td>48.1</td><td>-130.9</td><td>-9.8</td><td>96.2</td><td>—</td></tr><tr><td>Total operating revenues</td><td>2,328.6</td><td>1,342.1</td><td>411.0</td><td>365.0</td><td>197.9</td><td>4,644.6</td></tr><tr><td>Long-lived assets</td><td>225.8</td><td>91.9</td><td>8.1</td><td>9.5</td><td>15.5</td><td>350.8</td></tr><tr><td>For the year ended December 31, 2012</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Revenue from external customers</td><td>2,063.6</td><td>1,137.9</td><td>397.2</td><td>346.4</td><td>105.3</td><td>4,050.4</td></tr><tr><td>Inter-company revenue</td><td>-6.5</td><td>32.0</td><td>-97.7</td><td>-13.2</td><td>85.4</td><td>—</td></tr><tr><td>Total operating revenues</td><td>2,057.1</td><td>1,169.9</td><td>299.5</td><td>333.2</td><td>190.7</td><td>4,050.4</td></tr><tr><td>Long-lived assets</td><td>228.7</td><td>82.2</td><td>8.5</td><td>9.4</td><td>20.8</td><td>349.6</td></tr></table>

Question: Which year is Long-lived assets of Asia greater than 20 ?
Answer: 2012