Americas Net Sales The following table presents Americas net sales (dollars in millions):
## Table 0 ##
The period was characterized by balanced growth in hips and knees augmented by strong growth in other product lines.
Growth in porous stems, including the new Trabecular Metal Primary Hip Prosthesis and the Zimmer M/L Taper Stem, led hip sales.
Trabecular Metal Acetabular Cups, and Metasul LDH experienced strong growth offset by declining sales of Cemented Stems.
The NexGen Complete Knee Solution product line including the NexGen LPS-Flex Gender Knee, NexGen CR-Flex Gender Knee, NexGen Trabecular Metal Tibial Components and the NexGen MIS Stemmed Tibial Plate as well as Prolong Highly Crosslinked Polyethylene articular surface components led knee sales offset, in part, by declining sales of the Natural-Knee II System.
Dental, extremities and spine experienced double digit percentage growth compared to the prior year.
The Tapered Screw-Vent Implant System led dental sales.
The Trabecular Metal Shoulder Stems led extremities sales.
The Dynesys Dynamic Stabilization System and Spinal Trabecular Metal Implants led spine sales while trauma sales returned to solid growth behind Zimmer Periarticular Plates, the Zimmer NCB Plating system, the Sirus IM Nail and I. T. S. T Intertrochanteric/Subtrochanteric Fixation System.
Europe Net Sales The following table presents Europe net sales (dollars in millions):
## Table 1 ##
Strong knee sales continued to drive growth in Europe.
Eight percent volume and mix growth was offset by a 2 percent drop in average selling prices for knees in Europe.
The NexGen Complete Knee Solution product line and the Innex Total Knee System led knee sales.
Hip sales growth was negatively affected by reduced selling prices in Germany, Italy, Portugal and the United Kingdom.
The CLS Spotorno Stem, Longevity Highly Crosslinked Polyethylene Liners, Metasul LDH and Trabecular Metal Acetabular Cups led hip sales.
Dental, extremities, trauma, spine and OSP again experienced double digit percentage growth compared to the prior year.
Dental sales were led by the Tapered Screw-Vent Implant System.
The Anatomical Shoulder System led extremities sales.
Zimmer Periarticular Plates and the Zimmer NCB Plating System led trauma sales.
Trabecular Metal Implants led spine sales.
Strong sales of wound management products contributed to the OSP sales performance.
Asia Pacific Net Sales The following table presents Asia Pacific net sales (dollars in millions):
## Table 2 ##
A stronger U. S.  dollar in the first half of the year resulted in a negative 3 percent effect on sales for Asia Pacific, including a 3 percent drop in knee sales and a negative 4 percent impact on hip sales.
A reduction in reimbursement prices for orthopaedic implants in Japan went into effect April 1, 2006.
Together with other price changes in this segment this action led to a negative 2 percent effect on sales, including negative 2 percent on knees and negative 4 percent on hips.
Volume and mix growth more than offset the negative effects of price and currency in knees while netting out to result in flat sales in hips.
Strong knee sales drove growth in Asia Pacific.
The NexGen CR-Flex Knee and the NexGen LPS-Flex Knee led knee sales.
The continued conversion to porous stems, including the VerSys Hip System and the CLS Spotorno Stem led hip sales.
Sales of Longevity Highly Crosslinked Polyethylene Liners and Trabecular Metal Acetabular Cups also exhibited strong growth.
Dental experienced double digit percentage growth compared to the prior year.
The Tapered Screw-Vent Implant System and the Spline?
Implant System led dental sales.
Extremity sales were impacted by lower sales of the Bigliani/ Flatow Shoulder Solution.
Strong powered instrument sales contributed to the OSP sales performance.
ZIMMER HOLDINGS, INC.  2007 FORM 10-K ANNUAL REPORT 45 Notes to Consolidated Financial Statements (Continued) December 31, 2007, 2006 and 2005, included (in millions):
## Table 3 ##
In-process research and development charges for 2007 are related to the acquisitions of Endius and ORTHOsoft.
Included in the gain/loss on disposition or impairment of acquired assets and obligations for 2006 is the sale of the former Centerpulse Austin land and facilities for a gain of $5.1 million and the favorable settlement of two preacquisition contingent liabilities.
These gains were offset by a $13.4 million impairment charge for certain Centerpulse tradename and trademark intangibles based principally in our Europe operating segment.
Cash and Equivalents – We consider all highly liquid investments with an original maturity of three months or less to be cash equivalents.
The carrying amounts reported in the balance sheet for cash and equivalents are valued at cost, which approximates their fair value.
Restricted cash is primarily composed of cash held in escrow related to certain insurance coverage.
Inventories – Inventories, net of allowances for obsolete and slow-moving goods, are stated at the lower of cost or market, with cost determined on a first-in first-out basis.
Property, Plant and Equipment – Property, plant and equipment is carried at cost less accumulated depreciation.
Depreciation is computed using the straight-line method based on estimated useful lives of ten to forty years for buildings and improvements, three to eight years for machinery and equipment and generally five years for instruments.
Maintenance and repairs are expensed as incurred.
In accordance with Statement of Financial Accounting Standards (“SFAS”) No.144, “Accounting for the Impairment or Disposal of Long-Lived Assets,” we review property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable.
An impairment loss would be recognized when estimated future undiscounted cash flows relating to the asset are less than its carrying amount.
An impairment loss is measured as the amount by which the carrying amount of an asset exceeds its fair value.
Software Costs – We capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended.
Capitalized software costs generally include external direct costs of materials and services utilized in developing or obtaining computer software and compensation and related benefits for employees who are directly associated with the software project.
Capitalized software costs are included in property, plant and equipment on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, which approximate three to seven years.
Instruments – Instruments are hand held devices used by orthopaedic surgeons during total joint replacement and other surgical procedures.
Instruments are recognized as long-lived assets and are included in property, plant and equipment.
Undeployed instruments are carried at cost, net of allowances for excess and obsolete instruments.
Instruments in the field are carried at cost less accumulated depreciation.
Depreciation is computed using the straight-line method based on average estimated useful lives, determined principally in reference to associated product life cycles, primarily five years.
We review instruments for impairment in accordance with SFAS No.144.
Depreciation of instruments is recognized as selling, general and administrative expense.
Goodwill – We account for goodwill in accordance with SFAS No.142, “Goodwill and Other Intangible Assets”.
Goodwill is not amortized but is subject to annual impairment tests.
Goodwill has been assigned to reporting units, which are consistent with our operating segments.
We perform annual impairment tests by comparing each reporting unit’s fair value to its carrying amount to determine if there is potential impairment.
We perform this test in the fourth quarter of the year.
If the fair value of the reporting unit is less than its carrying value, an impairment loss is recorded to the extent that the implied fair value of the reporting unit goodwill is less than the carrying value of the reporting unit goodwill.
The fair value of the reporting unit and the implied fair value of goodwill are determined based upon market multiples.
Intangible Assets – We account for intangible assets in accordance with SFAS No.142.
Intangible assets are initially measured at their fair value.
We have determined the fair value of our intangible assets either by the fair value of the consideration exchanged for the intangible asset, or the estimated after-tax discounted cash flows expected to be generated from the intangible asset.
Intangible assets with an indefinite life, including certain trademarks and trade names, are not amortized.
The useful lives of indefinite life intangible assets are assessed annually to determine whether events and circumstances continue to support an indefinite life.
Intangible assets with a finite life, including core and developed technology, certain trademarks and trade names,
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 1.  Business We design, manufacture and market orthopaedic reconstructive products; sports medicine, biologics, extremities and trauma products; spine, bone healing, craniomaxillofacial and thoracic products; dental implants; and related surgical products.
We collaborate with healthcare professionals around the globe to advance the pace of innovation.
Our products and solutions help treat patients suffering from disorders of, or injuries to, bones, joints or supporting soft tissues.
On June 24, 2015 (the “Closing Date”), pursuant to an agreement and plan of merger dated April 24, 2014, we acquired LVB Acquisition, Inc.  (“LVB”), the parent company of Biomet, Inc.  (“Biomet”), and LVB and Biomet became our wholly-owned subsidiaries (sometimes hereinafter referred to as the “Biomet merger” or the “merger”).
For more information on the merger, see Note 4.
In connection with the merger, we changed our name from Zimmer Holdings, Inc.  to Zimmer Biomet Holdings, Inc.
The words “Zimmer Biomet,” “we,” “us,” “our,” “the Company” and similar words refer to Zimmer Biomet Holdings, Inc.  and its subsidiaries.
“Zimmer Biomet Holdings” refers to the parent company only.
“Zimmer” used alone refers to the business or information of us and our subsidiaries on a standalone basis without inclusion of the business or information of LVB or any of its subsidiaries.2.
Revision of Prior Period Financial Statements In the three month period ended September 30, 2015, we discovered two errors related to our financial statements for prior periods.
One error related to accounts payable accruals.
For certain received goods and services, we did not completely relieve the related accrual in a timely manner.
As a result, our accounts payable balance was overstated.
This error had been accumulating since 2012.
The second error related to the accounting for the divestiture of certain Biomet product lines and rights in the three month period ended June 30, 2015.
We calculated a gain on the divestiture based upon the pre-merger net book value of the assets.
However, the gain should have been calculated based upon the fair value of such assets postmerger.
We evaluated the impact of these errors on our prior period quarterly and annual financial statements, assessing materiality both quantitatively and qualitatively, and concluded the errors were not material to any of our previously issued financial statements.
However, we concluded the cumulative corrections of these errors would be material to our financial statements for the three month period ended September 30, 2015 and, therefore, it was not appropriate to recognize the cumulative corrections in that period.
Consequently, we revised previous periods’ financial statements to correct these errors as well as other unrelated, immaterial out of period adjustments that had been previously recorded.
Following is a summary of the financial statement line items impacted by these revisions for the periods presented in this Form 10-K (in millions, except per share amounts).
Revisions to the Consolidated Statements of Earnings and Comprehensive Income (Loss)
## Table 4 ##

<table><tr><td></td><td colspan="2">Year Ended December 31,</td><td></td></tr><tr><td></td><td>2006</td><td>2005</td><td>% Inc (Dec)</td></tr><tr><td>Reconstructive</td><td></td><td></td><td></td></tr><tr><td>Knees</td><td>$940.8</td><td>$880.5</td><td>7%</td></tr><tr><td>Hips</td><td>579.4</td><td>538.1</td><td>8</td></tr><tr><td>Extremities</td><td>54.2</td><td>46.2</td><td>17</td></tr><tr><td>Dental</td><td>105.4</td><td>88.8</td><td>19</td></tr><tr><td>Total</td><td>1,679.8</td><td>1,553.6</td><td>8</td></tr><tr><td>Trauma</td><td>117.1</td><td>107.5</td><td>9</td></tr><tr><td>Spine</td><td>146.9</td><td>132.7</td><td>11</td></tr><tr><td>OSP and other</td><td>132.7</td><td>148.0</td><td>-10</td></tr><tr><td>Total</td><td>$2,076.5</td><td>$1,941.8</td><td>7</td></tr></table>
<table><tr><td></td><td colspan="2">Year Ended December 31,</td><td></td></tr><tr><td></td><td>2006</td><td>2005</td><td>% Inc</td></tr><tr><td>Reconstructive</td><td></td><td></td><td></td></tr><tr><td>Knees</td><td>$352.2</td><td>$327.0</td><td>8%</td></tr><tr><td>Hips</td><td>417.8</td><td>410.3</td><td>2</td></tr><tr><td>Extremities</td><td>17.9</td><td>13.7</td><td>31</td></tr><tr><td>Dental</td><td>47.2</td><td>40.1</td><td>18</td></tr><tr><td>Total</td><td>835.1</td><td>791.1</td><td>6</td></tr><tr><td>Trauma</td><td>38.2</td><td>33.1</td><td>15</td></tr><tr><td>Spine</td><td>24.8</td><td>22.4</td><td>11</td></tr><tr><td>OSP and other</td><td>33.0</td><td>28.2</td><td>12</td></tr><tr><td>Total</td><td>$931.1</td><td>$874.8</td><td>6</td></tr></table>
<table><tr><td></td><td colspan="2">Year Ended December 31,</td><td></td></tr><tr><td></td><td>2006</td><td>2005</td><td>% Inc (Dec)</td></tr><tr><td>Reconstructive</td><td></td><td></td><td></td></tr><tr><td>Knees</td><td>$167.5</td><td>$158.7</td><td>6%</td></tr><tr><td>Hips</td><td>191.7</td><td>192.2</td><td>–</td></tr><tr><td>Extremities</td><td>5.5</td><td>6.2</td><td>-13</td></tr><tr><td>Dental</td><td>26.4</td><td>19.2</td><td>37</td></tr><tr><td>Total</td><td>391.1</td><td>376.3</td><td>4</td></tr><tr><td>Trauma</td><td>39.4</td><td>39.2</td><td>1</td></tr><tr><td>Spine</td><td>5.7</td><td>5.3</td><td>9</td></tr><tr><td>OSP and other</td><td>51.6</td><td>48.7</td><td>6</td></tr><tr><td>Total</td><td>$487.8</td><td>$469.5</td><td>4</td></tr></table>
<table><tr><td></td><td>2007</td><td>2006</td><td>2005</td></tr><tr><td>(Gain)/loss on disposition or impairment of acquired assets and obligations</td><td>$-1.2</td><td>$-19.2</td><td>$3.2</td></tr><tr><td>Consulting and professional fees</td><td>1.0</td><td>8.8</td><td>5.6</td></tr><tr><td>Employee severance and retention</td><td>1.6</td><td>3.3</td><td>13.3</td></tr><tr><td>Information technology integration</td><td>2.6</td><td>3.0</td><td>6.9</td></tr><tr><td>In-process research & development</td><td>6.5</td><td>2.9</td><td>–</td></tr><tr><td>Integration personnel</td><td>–</td><td>2.5</td><td>3.1</td></tr><tr><td>Facility and employee relocation</td><td>–</td><td>1.0</td><td>6.2</td></tr><tr><td>Distributor acquisitions</td><td>4.1</td><td>–</td><td>–</td></tr><tr><td>Sales agent and lease contract terminations</td><td>5.4</td><td>0.2</td><td>12.7</td></tr><tr><td>Other</td><td>5.2</td><td>3.6</td><td>5.6</td></tr><tr><td>Acquisition, integration and other</td><td>$25.2</td><td>$6.1</td><td>$56.6</td></tr></table>
<table><tr><td></td><td colspan="3">Year Ended December 31, 2014</td><td colspan="3">Year Ended December 31, 2013</td></tr><tr><td></td><td>As Reported</td><td>Adjustments</td><td>As Revised</td><td>As Reported</td><td>Adjustments</td><td>As Revised</td></tr><tr><td>Cost of products sold, excluding intangible asset amortization</td><td>$1,242.7</td><td>$0.1</td><td>$1,242.8</td><td>$1,280.1</td><td>$-13.4</td><td>$1,266.7</td></tr><tr><td>Research and development</td><td>187.9</td><td>-0.5</td><td>187.4</td><td>203.4</td><td>-0.4</td><td>203.0</td></tr><tr><td>Selling, general and administrative</td><td>1,744.4</td><td>6.3</td><td>1,750.7</td><td>1,758.8</td><td>-9.5</td><td>1,749.3</td></tr><tr><td>Special items</td><td>342.5</td><td>-1.4</td><td>341.1</td><td>214.0</td><td>-3.7</td><td>210.3</td></tr><tr><td>Operating expenses</td><td>3,631.5</td><td>4.5</td><td>3,636.0</td><td>3,581.8</td><td>-27.0</td><td>3,554.8</td></tr><tr><td>Earnings before income taxes</td><td>943.9</td><td>-4.5</td><td>939.4</td><td>981.1</td><td>27.0</td><td>1,008.1</td></tr><tr><td>Provision for income taxes</td><td>224.9</td><td>-4.7</td><td>220.2</td><td>221.9</td><td>7.6</td><td>229.5</td></tr><tr><td>Net earnings</td><td>719.0</td><td>0.2</td><td>719.2</td><td>759.2</td><td>19.4</td><td>778.6</td></tr><tr><td>Net Earnings of Zimmer Holdings, Inc.</td><td>$720.1</td><td>$0.2</td><td>$720.3</td><td>$761.0</td><td>$19.4</td><td>$780.4</td></tr><tr><td>Earnings Per Common Share - Basic</td><td>$4.26</td><td>$–</td><td>$4.26</td><td>$4.49</td><td>$0.11</td><td>$4.60</td></tr><tr><td>Earnings Per Common Share - Diluted</td><td>$4.19</td><td>$0.01</td><td>$4.20</td><td>$4.43</td><td>$0.11</td><td>$4.54</td></tr><tr><td>Foreign currency cumulative translation adjustments</td><td>$-241.5</td><td>$18.4</td><td>$-223.1</td><td>$-44.4</td><td>$9.4</td><td>$-35.0</td></tr><tr><td>Total Other Comprehensive Income (Loss)</td><td>-281.2</td><td>18.4</td><td>-262.8</td><td>23.2</td><td>9.4</td><td>32.6</td></tr><tr><td>Comprehensive Income</td><td>437.8</td><td>18.6</td><td>456.4</td><td>782.4</td><td>28.8</td><td>811.2</td></tr><tr><td>Comprehensive Income Attributable to Zimmer Holdings, Inc.</td><td>438.8</td><td>18.6</td><td>457.4</td><td>784.4</td><td>28.8</td><td>813.2</td></tr></table>

Question: As As the chart 4 shows, for Year Ended December 31,which year is the value As Reported of the Operating expenses higher ?
Answer: 2014