available, we do not expect any transactions to have a significant impact on our reported income tax expense.
In connection with the completion of the reorganization, we will reevaluate the ability to realize our deferred tax assets related to U. S.  operations under the new Aon UK corporate structure and we may recognize a non-cash, deferred tax expense upon the conclusion of this evaluation.
Based on information currently available, we do not expect the additional deferred tax expense, if any, to be significant.
The reorganization will result in additional ongoing costs to us.
The completion of the reorganization will result in an increase in some of our ongoing expenses and require us to incur some new expenses.
Some costs, including those related to employees in our U. K.  offices and holding board meetings in the U. K. , are expected to be higher than would be the case if our principal executive offices were not relocated to the U. K. .  We also expect to incur new expenses, including professional fees and SDRT in connection with settlement of equity-based awards under our stock or share incentive plans, to comply with U. K.  corporate and tax laws.
Item 1B.
Unresolved Staff Comments.
None.
Item 2.
Properties.
We have offices in various locations throughout the world.
Substantially all of our offices are located in leased premises.
We maintain our corporate headquarters at 200 E.  Randolph Street in Chicago, Illinois, where we occupy approximately 355,000 square feet of space under an operating lease agreement that expires in 2013.
There are two five-year renewal options at current market rates.
We own one building at Pallbergweg 2-4, Amsterdam, the Netherlands (150,000 square feet).
The following are additional significant leased properties, along with the occupied square footage and expiration.
Property: Occupied Square Footage Lease Expiration Dates
## Table 0 ##
The locations in Lincolnshire, Illinois, The Woodlands, Texas, Orlando, Florida, and Charlotte North Carolina, each of which were acquired as part of the Hewitt acquisition in 2010, are primarily dedicated to our HR Solutions segment.
The other locations listed above house personnel from each of our business segments.
In November 2011, Aon entered into an agreement to lease 190,000 square feet in a new building to be constructed in London, United Kingdom.
The agreement is contingent upon the completion of the building construction.
Aon expects to move into the new building in 2015 when it exercises an early break option at the Devonshire Square location.3
People’s United Financial, Inc.  and Subsidiaries Notes to Consolidated Financial Statements Restricted Stock Awarded The following is a summary of restricted stock award activity under the Incentive Plans and the RRP:
## Table 1 ##
Expense relating to unvested restricted stock awards is recognized on a straight-line basis, generally over the applicable service period, and totaled $6.5 million, $9.4 million and $8.7 million for the years ended December 31, 2016, 2015 and 2014, respectively.
Unamortized cost for unvested restricted stock awards, which reflects an estimated forfeiture rate of 5.0% per year over the vesting period, totaled $6.4 million at December 31, 2016, and is expected to be recognized over the remaining weighted-average vesting period of 1.3 years.
The total fair value of restricted stock awards vested during the years ended December 31, 2016, 2015 and 2014 was $9.8 million, $9.4 million and $10.3 million, respectively.
During 2016, 2015 and 2014, employees of People’s United tendered a total of 289,992 shares, 230,459 shares and 229,635 shares of common stock, respectively, in satisfaction of their related minimum tax withholding obligations upon the vesting of restricted stock awards granted in prior periods and/or in payment of the exercise price and satisfaction of their related minimum tax withholding obligations upon the exercise of stock options granted in prior periods.
There is no limit on the number of shares that may be tendered by employees of People’s United in the future for these purposes.
Shares acquired in payment of the stock option exercise price or in satisfaction of minimum tax withholding obligations are not eligible for reissuance in connection with any subsequent grants made pursuant to equity compensation plans maintained by People’s United.
Rather, all shares acquired in this manner are retired by People’s United, resuming the status of authorized but unissued shares of People’s United’s common stock.
The total cost of shares repurchased and retired applicable to restricted stock awards during the years ended December 31, 2016, 2015 and 2014 was $3.4 million, $3.2 million and $3.0 million, respectively.
Directors’ Equity Compensation Plan The People’s United Financial, Inc.  Directors’ Equity Compensation Plan (the “Directors’ Plan”) provides for an annual award of shares of People’s United common stock with a fair value of approximately $95,000 to each non-employee director immediately following each annual meeting of shareholders.
Shares of People’s United common stock issued pursuant to the Directors’ Plan are subject to a one-year vesting period, with no post-vesting transfer restrictions.
A total of 1,192,500 shares of People’s United common stock are reserved for issuance under the Directors’ Plan.
Treasury encompasses the securities portfolio, short-term investments, brokered deposits, wholesale borrowings and the funding center, which includes the impact of derivative financial instruments used for risk management purposes.
The income or loss for the funding center represents the IRR component of People’s United’s net interest income as calculated by its FTP model in deriving each operating segment’s net interest income.
Under this process, the funding center buys funds from liability-generating business lines, such as consumer deposits, and sells funds to asset-generating business lines, such as commercial lending.
The price at which funds are bought and sold on any given day is set by People’s United’s Treasury group and is based on the wholesale cost to People’s United of assets and liabilities with similar maturities.
Liability-generating businesses sell newly-originated liabilities to the funding center and recognize a funding credit, while asset-generating businesses buy funding for newly-originated assets from the funding center and recognize a funding charge.
Once funding for an asset is purchased from or a liability is sold to the funding center, the price that is set by the Treasury group will remain with that asset or liability until it matures or reprices, which effectively transfers responsibility for managing IRR to the Treasury group.
## Table 2 ##
Treasury’s net income increased $13.8 million in 2016 compared to 2015.
The $23.2 million increase in net interest income primarily reflects an increase in securities income and lower net FTP funding costs, partially offset by an increase in interest expense.
Total non-interest income in 2016 includes $5.9 million in net security losses, primarily resulting from the sale of low-yielding and short maturity U. S.  Treasury and CMO securities with a combined amortized cost of $403 million, and income relating to distributions from an acquired equity investment.
Total non-interest income also includes BOLI death benefits received totaling $1.4 million and $0.5 million in 2016 and 2015, respectively.
The increase in non-interest expense reflects an increase in allocated expenses partially offset by a decrease in direct expenses.
Average total assets increased $1.0 billion in 2016 compared to 2015, primarily reflecting an increase in average securities.
The $1.4 billion increase in average total liabilities in 2016 compared to 2015 primarily reflects an increase in average borrowings.
Treasury’s net income increased $34.6 million in 2015 compared to 2014.
The $53.7 million improvement in net interest income primarily reflects lower net FTP funding costs and an increase in securities income, partially offset by an increase in interest expense.
The decrease in non-interest income primarily reflects a decrease in net security gains and BOLI income.
The increase in non-interest expense reflects increases in both direct and allocated expenses.
Average total assets increased $1.1 billion in 2015 compared to 2014, primarily reflecting increases in average securities and average short-term investments.
The $1.8 billion increase in average total liabilities in 2015 compared to 2014 reflects increases in average deposits and average notes and debentures, partially offset by a decrease in average borrowings.
The following table summarizes net loan charge-offs by loan portfolio class and total net loan charge-offs to total average loans:
## Table 3 ##
## Table 4 ##
The allocation of the allowance for loan losses on originated loans at December 31, 2016 reflects management’s assessment of credit risk and probable loss within each portfolio.
This assessment is based on a variety of internal and external factors including, but not limited to, the likelihood and severity of loss, portfolio growth and related risk characteristics, and current economic conditions.
With respect to the originated portfolio, an allocation of a portion of the allowance to one loan segment does not preclude its availability to absorb losses in another loan segment.
Management believes that the level of the allowance for loan losses at December 31, 2016 is appropriate to cover probable losses.
Non-Performing Assets A loan is generally considered “non-performing” when it is placed on non-accrual status.
A loan is generally placed on non-accrual status when it becomes 90 days past due as to interest or principal payments.
Past due status is based on the contractual payment terms of the loan.
A loan may be placed on non-accrual status before it reaches 90 days past due if such loan has been identified as presenting uncertainty with respect to the collectability of interest and principal.
A loan past due 90 days or more may remain on accruing status if such loan is both well secured and in the process of collection.
All previously accrued but unpaid interest on non-accrual loans is reversed from interest income in the period in which the accrual of interest is discontinued.
Interest payments received on non-accrual loans (including impaired loans) are generally applied as a reduction of principal if future collections are doubtful, although such interest payments may be recognized as income.
A loan remains on non-accrual status until the factors that indicated doubtful collectability no longer exist or until a loan is determined to be uncollectible and is charged off against the allowance for loan losses.
There were no loans past due 90 days or more and still accruing interest at December 31, 2016 or 2015.

<table><tr><td>Property:</td><td>Occupied Square Footage</td><td>Lease Expiration Dates</td></tr><tr><td>4 Overlook Point and other locations, Lincolnshire, Illinois</td><td>1,224,000</td><td>2014 – 2019</td></tr><tr><td>2601 Research Forest Drive, The Woodlands, Texas</td><td>414,000</td><td>2020</td></tr><tr><td>DLF City and Unitech Cyber Park, Gurgaan, India</td><td>383,000</td><td>2012 – 2014</td></tr><tr><td>2300 Discovery Drive, Orlando, Florida</td><td>364,000</td><td>2020</td></tr><tr><td>Devonshire Square and other locations, London, UK</td><td>327,000</td><td>2018 – 2023</td></tr><tr><td>199 Water Street, New York, New York</td><td>319,000</td><td>2018</td></tr><tr><td>7201 Hewitt Associates Drive, Charlotte, North Carolina</td><td>218,000</td><td>2015</td></tr></table>
<table><tr><td></td><td>Shares</td><td>Weighted-AverageGrant DateFair Value</td></tr><tr><td>Unvested restricted shares outstanding at December 31, 2013</td><td>1,533,215</td><td>$13.12</td></tr><tr><td>Granted</td><td>660,617</td><td>14.01</td></tr><tr><td>Forfeited</td><td>-95,700</td><td>13.53</td></tr><tr><td>Vested</td><td>-730,600</td><td>13.22</td></tr><tr><td>Unvested restricted shares outstanding at December 31, 2014</td><td>1,367,532</td><td>13.47</td></tr><tr><td>Granted</td><td>568,273</td><td>14.88</td></tr><tr><td>Forfeited</td><td>-80,303</td><td>14.23</td></tr><tr><td>Vested</td><td>-623,185</td><td>13.33</td></tr><tr><td>Unvested restricted shares outstanding at December 31, 2015</td><td>1,232,317</td><td>14.14</td></tr><tr><td>Granted</td><td>344,812</td><td>14.66</td></tr><tr><td>Forfeited</td><td>-41,684</td><td>14.34</td></tr><tr><td>Vested</td><td>-649,363</td><td>13.79</td></tr><tr><td>Unvested restricted shares outstanding at December 31, 2016</td><td>886,082</td><td>$14.59</td></tr></table>
<table><tr><td>Years ended December 31 (in millions)</td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>Net interest income</td><td>$87.6</td><td>$64.4</td><td>$10.7</td></tr><tr><td>Totalnon-interestincome</td><td>9.2</td><td>11.1</td><td>12.4</td></tr><tr><td>Totalnon-interestexpense</td><td>9.8</td><td>6.9</td><td>6.2</td></tr><tr><td>Income before income tax expense</td><td>87.0</td><td>68.6</td><td>16.9</td></tr><tr><td>Income tax expense</td><td>27.5</td><td>22.9</td><td>5.8</td></tr><tr><td>Net income</td><td>$59.5</td><td>$45.7</td><td>$11.1</td></tr><tr><td>Average total assets</td><td>$7,443.1</td><td>$6,399.3</td><td>$5,261.2</td></tr><tr><td>Average total liabilities</td><td>8,628.7</td><td>7,188.4</td><td>5,418.0</td></tr></table>
<table><tr><td>Years ended December 31</td><td>2016</td><td>2015</td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>Commercial:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commercial real estate</td><td>0.02%</td><td>0.03%</td><td>0.15%</td><td>0.16%</td><td>0.24%</td></tr><tr><td>Commercial and industrial</td><td>0.06</td><td>0.11</td><td>0.11</td><td>0.26</td><td>0.18</td></tr><tr><td>Equipment financing</td><td>0.21</td><td>0.14</td><td>0.02</td><td>0.08</td><td>0.19</td></tr><tr><td>Retail:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Residential mortgage</td><td>0.02</td><td>0.03</td><td>0.05</td><td>0.15</td><td>0.17</td></tr><tr><td>Home equity</td><td>0.19</td><td>0.16</td><td>0.24</td><td>0.31</td><td>0.26</td></tr><tr><td>Other consumer</td><td>0.70</td><td>1.21</td><td>1.87</td><td>1.29</td><td>0.93</td></tr><tr><td>Total portfolio</td><td>0.06%</td><td>0.08%</td><td>0.12%</td><td>0.19%</td><td>0.21%</td></tr></table>
<table><tr><td></td><td colspan="2">2016</td><td colspan="2">2015</td><td colspan="2">2014</td><td colspan="2">2013</td><td colspan="2">2012</td></tr><tr><td>As of December 31(dollars in millions)</td><td>Amount</td><td>Percent of Loan Portfolio</td><td>Amount</td><td>Percent of Loan Portfolio</td><td>Amount</td><td>Percent of Loan Portfolio</td><td>Amount</td><td>Percent of Loan Portfolio</td><td>Amount</td><td>Percentof LoanPortfolio</td></tr><tr><td>Commercial:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commercial real estate</td><td>$73.7</td><td>34.5%</td><td>$73.1</td><td>35.3%</td><td>$63.8</td><td>35.4%</td><td>$65.0</td><td>36.6%</td><td>$60.0</td><td>33.6%</td></tr><tr><td>Commercial and industrial</td><td>86.4</td><td>27.3</td><td>80.0</td><td>27.3</td><td>78.2</td><td>27.0</td><td>72.5</td><td>25.8</td><td>75.5</td><td>27.8</td></tr><tr><td>Equipment financing</td><td>38.7</td><td>10.2</td><td>28.7</td><td>10.4</td><td>27.6</td><td>10.8</td><td>21.0</td><td>10.6</td><td>22.0</td><td>10.8</td></tr><tr><td>Retail:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Residential mortgage</td><td>16.7</td><td>20.9</td><td>11.2</td><td>19.2</td><td>9.2</td><td>18.5</td><td>10.0</td><td>18.1</td><td>12.0</td><td>17.9</td></tr><tr><td>Home equity</td><td>6.9</td><td>7.0</td><td>8.9</td><td>7.6</td><td>8.3</td><td>8.1</td><td>8.0</td><td>8.6</td><td>6.7</td><td>9.4</td></tr><tr><td>Other consumer</td><td>0.6</td><td>0.1</td><td>1.0</td><td>0.2</td><td>1.0</td><td>0.2</td><td>1.0</td><td>0.3</td><td>1.3</td><td>0.5</td></tr><tr><td>Total originated allowance for loan losses</td><td>$223.0</td><td>100.0%</td><td>$202.9</td><td>100.0%</td><td>$188.1</td><td>100.0%</td><td>$177.5</td><td>100.0%</td><td>$177.5</td><td>100.0%</td></tr></table>

Question: When is Commercial and industrial for Amount the largest?
Answer: 2016