The following table presents the results of operations of our Protection segment:
## Table 0 ##
Our Protection segment pretax income was $352 million for 2008, down $133 million, or 27%, from $485 million in 2007.
Net revenues Net revenues increased $15 million, or 1%, from the prior year.
Management and financial advice fees decreased $12 million, or 18%, to $56 million primarily driven by lower equity markets.
Net investment income decreased $109 million, or 30%, to $252 million in 2008 compared to $361 million in 2007 primarily due to net realized investment losses on Available-for-Sale securities of $92 million in 2008, primarily due to other-than-temporary impairments, compared to net realized investment gains of $7 million in 2007.
Also contributing to lower net investment income were lower yields on our investment portfolio as we increased our liquidity position.
Investment income on fixed maturity securities decreased $18 million to $307 million compared to investment income of $325 million in 2007.
Premiums increased $38 million, or 4%, from the prior year, primarily due to a 6% increase in Auto and Home policy counts and an increase of 9% in traditional life insurance in force.
Traditional life insurance in force was $77.4 billion as of year-end 2008, compared to $70.8 billion as of year-end 2007.
Other revenues increased $94 million, or 21%, to $547 million in 2008 primarily due to a $95 million benefit from updating valuation assumptions and converting to a new valuation system in the third quarter of 2008.
Expenses Total expenses increased $148 million, or 10%, to $1.6 billion for 2008 compared to $1.5 billion for 2007, primarily due to a $133 million increase in amortization of DAC.
DAC amortization in 2008 included a $90 million expense from updating valuation assumptions and converting to a new valuation system in the third quarter of 2008, as well as the market’s unfavorable impact on DAC.
In response to the accelerated market deterioration in the fourth quarter of 2008, management took action to lower future variable universal life profit expectations based on continued depreciation in contract values and historical equity market return patterns.
DAC amortization in 2007 included a $20 million expense from updating valuation assumptions and an immaterial market impact.
During 2015, the Company completed the acquisition of Elmer’s.
The purchase price of $571.4 million is net of $16.8 million of cash acquired and is subject to customary working capital adjustments and was paid from proceeds received from the issuance of the 2018 Notes and 2025 Notes.
During 2014, the Company completed the acquisitions of Ignite and Baby Jogger and acquired the assets of bubba.
The total net purchase price for these three businesses in 2014 was $602.3 million, which was paid from proceeds received from the issuance of the 2019 Notes and 2024 Notes and short-term borrowings.
During 2015, the Company deconsolidated its Venezuelan operations, which resulted in a $97.5 million reduction in cash and cash equivalents.
During 2014, the Company used aggregate net proceeds of $841.8 million from the issuance of the 2019 Notes and 2024 Notes and short-term borrowings to redeem $168.7 million of the $550.0 million outstanding 4.7% medium-term notes due 2020, redeem the $250.0 million of outstanding 2.0% medium-term notes due 2015, redeem the $20.7 million of outstanding 10.6% mediumterm notes due 2019, finance acquisitions and for general corporate purposes.
Aggregate dividends paid were $328.6 million, $206.3 million and $182.5 million for 2016, 2015 and 2014, respectively.
In February 2015, the Company’s Board of Directors approved a 12% increase in the quarterly dividend from $0.17 per share to $0.19 per share, effective with the quarterly dividend paid in March 2015.
The Company’s Board of Directors previously approved a 13.3% increase in the Company’s quarterly dividend from $0.15 per share to $0.17 per share, effective with the quarterly dividend paid in June 2014.
Under the Company’s stock repurchase program (“SRP”), which expires at the end of 2017, the Company may repurchase its own shares of common stock through a combination of 10b5-1 automatic trading plans, discretionary market purchases or in privately negotiated transactions.
During 2016, the Company did not repurchase shares.
During 2015 and 2014, the Company repurchased approximately 4.5 million and 11.3 million shares, respectively, of its common stock under its existing stock repurchase program (“SRP”) valued at approximately $180.4 million and $363.2 million, respectively.
At December 31, 2016, approximately $255.9 million remains available under the Stock Repurchase Program.
Cash used for restructuring activities was $59.9 million, $51.5 million and $71.8 million for 2016, 2015 and 2014, respectively, and is included in the cash provided by operating activities.
These payments relate primarily to employee severance, termination benefits and relocation costs and vacant facility lease payments.
The Company made contributions of $34.5 million, $103.2 million and $34.9 million to its defined benefit plans for 2016, 2015 and 2014, respectively.
The contributions are included in cash provided by operating activities.
Cash Conversion Cycle The Company defines its cash conversion cycle as the sum of inventory and accounts receivable days outstanding (based on cost of products sold and net sales, respectively, for the most recent three-month period, including discontinued operations) minus accounts payable days outstanding (based on cost of products sold for the most recent three-month period, including discontinued operations) at the end of the year.
The following table depicts the Company’s cash conversion cycle at December 31, (in number of days):
## Table 1 ##
The decrease in accounts receivable and accounts payable days and increase in inventory days from 2015 to 2016 is attributable to the inclusion of the Jarden business and the timing of the closing of the Jarden Acquisition with respect to sales, cash receipts, purchases and payments.
The increase in the cash conversion cycle from 2015 to 2014 is primarily due to the increase in inventory days, driven by higher inventory balances at December 31, 2015 as compared to December 31, 2014, largely attributable to inventory builds for new product launches.
The decrease in accounts payable days in 2016 compared to 2015 and 2014 is attributable to the timing and management of purchases and payments.
The acquisition of Elmer’s and divestiture of Endicia had the effect of increasing the cash conversion cycle by approximately 1 day in 2015 due to the timing of the transactions in the fourth quarter of 2015.
The Company’s cash conversion cycle is impacted
Other — During 2011 and 2010, we experienced increases in our computer costs, due in part to improvements we are making to our information technology systems, and litigation loss and settlement costs.
Also driving the increase during 2010 was increased marketing and advertising costs, driven in part by our strategic growth plans.
Depreciation and Amortization Depreciation and amortization includes (i) depreciation of property and equipment, including assets recorded for capital leases, on a straight-line basis from three to 50 years; (ii) amortization of landfill costs, including those incurred and all estimated future costs for landfill development, construction and asset retirement costs arising from closure and post-closure, on a units-of-consumption method as landfill airspace is consumed over the total estimated remaining capacity of a site, which includes both permitted capacity and expansion capacity that meets our Company-specific criteria for amortization purposes; (iii) amortization of landfill asset retirement costs arising from final capping obligations on a units-of-consumption method as airspace is consumed over the estimated capacity associated with each final capping event; and (iv) amortization of intangible assets with a definite life, either using a 150% declining balance approach or a straight-line basis over the definitive terms of the related agreements, which are generally from two to ten years depending on the type of asset.
The following table summarizes the components of our depreciation and amortization costs for the years ended December 31 (dollars in millions):
## Table 2 ##
The increases in amortization expense of intangible assets in 2011 and 2010 are due to our focus on the growth and development of our business through acquisitions and other investments.
The increase in amortization of intangible assets in 2011 is primarily related to the amortization of customer lists, which were acquired (i) through our acquisition of Oakleaf, (ii) by our Southern Group and (iii) by our recycling and electronic brokerage services business.
The increase in amortization of intangible assets in 2010 is primarily related to the amortization of definite-lived operating permits acquired by our healthcare solutions operations, customer lists acquired by our Southern and Midwest Groups and gas rights acquired by our renewable energy operations.
Restructuring Beginning in July 2011, we took steps to streamline our organization as part of our cost savings programs.
This reorganization eliminated over 700 employee positions throughout the Company, including approximately 300 open positions.
Additionally, subsequent to our acquisition of Oakleaf, we incurred charges in connection with restructuring that organization.
During the year ended December 31, 2011, we recognized a total of $19 million of pre-tax restructuring charges, of which $18 million were related to employee severance and benefit costs associated with this reorganization.
In January 2009, we streamlined our organization by (i) consolidating our Market Areas from 45 Market Areas to 25 Market Areas; (ii) integrating the management of our recycling operations with our solid waste businesses in our four geographic Groups; and (iii) realigning our Corporate organization with this new structure in order to provide support functions more efficiently.
This restructuring eliminated over 1,500 employee positions throughout the Company.
During 2009, we recognized $50 million of pre-tax charges associated with this restructuring, of which $41 million were related to employee severance and benefit costs.
The remaining charges were primarily related to lease obligations for property that will no longer be utilized.
In 2010, we recognized $2 million of income related to the reversal of pre-tax restructuring charges recorded in 2009.

<table><tr><td> </td><td colspan="2"> Years Ended December 31,</td><td></td><td></td></tr><tr><td> </td><td> 2008</td><td> 2007</td><td colspan="2">Change</td></tr><tr><td> </td><td colspan="4">(in millions, except percentages)</td></tr><tr><td> Revenues</td><td></td><td></td><td></td><td></td></tr><tr><td>Management and financial advice fees</td><td>$56</td><td>$68</td><td>$-12</td><td>-18%</td></tr><tr><td>Distribution fees</td><td>106</td><td>102</td><td>4</td><td>4</td></tr><tr><td>Net investment income</td><td>252</td><td>361</td><td>-109</td><td>-30</td></tr><tr><td>Premiums</td><td>994</td><td>956</td><td>38</td><td>4</td></tr><tr><td>Other revenues</td><td>547</td><td>453</td><td>94</td><td>21</td></tr><tr><td>Total revenues</td><td>1,955</td><td>1,940</td><td>15</td><td>1</td></tr><tr><td>Banking and deposit interest expense</td><td>1</td><td>1</td><td>—</td><td>—</td></tr><tr><td>Total net revenues</td><td>1,954</td><td>1,939</td><td>15</td><td>1</td></tr><tr><td> Expenses</td><td></td><td></td><td></td><td></td></tr><tr><td>Distribution expenses</td><td>18</td><td>16</td><td>2</td><td>13</td></tr><tr><td>Interest credited to fixed accounts</td><td>144</td><td>141</td><td>3</td><td>2</td></tr><tr><td>Benefits, claims, losses and settlement expenses</td><td>856</td><td>850</td><td>6</td><td>1</td></tr><tr><td>Amortization of deferred acquisition costs</td><td>333</td><td>200</td><td>133</td><td>67</td></tr><tr><td>General and administrative expense</td><td>251</td><td>247</td><td>4</td><td>2</td></tr><tr><td>Total expenses</td><td>1,602</td><td>1,454</td><td>148</td><td>10</td></tr><tr><td>Pretax income</td><td>$352</td><td>$485</td><td>$-133</td><td>-27%</td></tr></table>
<table><tr><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>Accounts receivable</td><td>64</td><td>73</td><td>74</td></tr><tr><td>Inventory</td><td>85</td><td>71</td><td>67</td></tr><tr><td>Accounts payable</td><td>-56</td><td>-64</td><td>-64</td></tr><tr><td>Cash conversion cycle</td><td>93</td><td>80</td><td>77</td></tr></table>
<table><tr><td></td><td> 2011</td><td colspan="2">Period-to- Period Change</td><td> 2010</td><td colspan="2">Period-to- Period Change</td><td> 2009</td></tr><tr><td>Depreciation of tangible property and equipment</td><td>$800</td><td>$19</td><td>2.4%</td><td>$781</td><td>$2</td><td>0.3%</td><td>$779</td></tr><tr><td>Amortization of landfill airspace</td><td>378</td><td>6</td><td>1.6</td><td>372</td><td>14</td><td>3.9</td><td>358</td></tr><tr><td>Amortization of intangible assets</td><td>51</td><td>10</td><td>24.4</td><td>41</td><td>12</td><td>41.4</td><td>29</td></tr><tr><td></td><td>$1,229</td><td>$35</td><td>2.9%</td><td>$1,194</td><td>$28</td><td>2.4%</td><td>$1,166</td></tr></table>

Question: How many Revenues exceed the average of Distribution fees in 2008?
Answer: 3