Selling, general and administrative (SG&A) expenses in 2013 and 2012 included $228 million and $213 million, respectively, of costs associated with the separation of AbbVie from Abbott.
SG&A expenses in 2013 included restructuring charges aggregating $39 million which principally related to the restructuring of certain commercial operations in conjunction with the loss and expected loss of exclusivity of certain products.
SG&A expenses in 2012 and 2011 included litigation charges of $100 million and $1.5 billion, respectively, related to the Depakote investigation.
Refer to Note 13 for information on the Depakote charge.
Excluding these items from all years, SG&A expenses increased 9 percent and 7 percent in 2013 and 2012, respectively.
The increases in SG&A expenses over the three-year period were due primarily to increased selling and marketing support for new and existing products, including continued spending for HUMIRA, and in 2013, the full year incremental costs of becoming an independent company.
Research and Development and Acquired In-Process Research and Development
## Table 0 ##
R&D expense in 2013 reflects added funding to support the company’s emerging mid- and late-stage pipeline assets and the continued pursuit of additional HUMIRA indications.
R&D expense in 2013 and 2012 reflected continued pipeline spending on programs in biologics, neuroscience and virology as well as a $50 million R&D milestone payment related to a product in development for the treatment of CKD in 2012.
R&D expenses also included restructuring charges of $15 million in 2013, $183 million in 2012 and $72 million in 2011.
Excluding restructuring charges and milestone payments, R&D expenses increased 11 percent in 2013 and less than 1 percent in 2012.
Acquired in-process research and development (IPR&D) expense in 2013 principally included a charge of $175 million as a result of entering into a global license agreement with Ablynx NV to develop and commercialize ALX-0061, a charge of $70 million as a result of entering into a global collaboration with Alvine Pharmaceuticals, Inc.  to develop ALV003, a charge of $45 million as a result of entering into a global collaboration with Galapagos NV for cystic fibrosis therapies and charges totaling $48 million as a result of entering into several other arrangements.
IPR&D expense in 2012 included a charge of $110 million for the acquisition of ABT-719, a charge of $150 million as a result of entering into a global collaboration to develop and commercialize an oral, next-generation JAK1 inhibitor, and a charge of $28 million as a result of entering into a two-year collaboration agreement to research, develop and commercialize up to three compounds with Antibody-Drug Conjugate approaches.
IPR&D expense in 2011 included a charge of $188 million for the achievement of a developmental milestone under a licensing agreement for bardoxolone methyl, and charges of $400 million and $85 million for entering into collaboration agreements for second-generation oral antioxidant inflammation modulators and an anti-CD4 biologic for the treatment of rheumatoid arthritis and psoriasis, respectively.
Interest Expense Interest expense (income), net in 2013 was $278 million and was comprised primarily of interest expense on outstanding debt, partially offset by interest income of $21 million.
In November 2012, AbbVie issued $14.7 billion of long-term debt with maturities ranging from three to 30 years and
The following table presents component changes in AUM by investment style and product type for 2017.
## Table 1 ##
The following table presents component changes in AUM by product type for 2017.
## Table 2 ##
(1) Amount represents AUM acquired in the First Reserve Transaction.
(2) Foreign exchange reflects the impact of translating non-U.
S.  dollar denominated AUM into U. S.  dollars for reporting purposes.
(3) Average AUM is calculated as the average of the month-end spot AUM amounts for the trailing thirteen months.
(4) Advisory AUM represents long-term portfolio liquidation assignments.
(5) Amounts include commodity iShares ETFs.
AUM increased $1.1 trillion to $6.3 trillion at December 31, 2017 from $5.1 trillion at December 31, 2016 driven by net market appreciation, positive net inflows, the impact of foreign exchange movements and AUM acquired in the First Reserve Transaction.
Net market appreciation of $628.9 billion was primarily driven by higher U. S.  and global equity markets.
AUM increased $140.9 billion due to the impact of foreign exchange movements, primarily resulting from the weakening of the U. S.  dollar against the Euro and the British pound.
For further discussion on AUM, see “Part I, Item 1 — Business — Assets Under Management”.
ultimately recovered, production and operating costs, the amount and timing of future development expenditures and future crude oil and natural gas sales prices may all differ from those assumed in these estimates.
In addition, different reserve engineers may make different estimates of reserve quantities and cash flows based upon the same available data.
Therefore, the standardized measure of discounted future net cash flows (Standardized Measure) shown below represents estimates only and should not be construed as the current market value of the estimated reserves attributable to FCX’s oil and gas properties.
In this regard, the information set forth in the following tables includes revisions of reserve estimates attributable to proved properties acquired from PXP and MMR, and reflect additional information from subsequent development activities, production history of the properties involved and any adjustments in the projected economic life of such properties resulting from changes in product prices.
Decreases in the prices of crude oil and natural gas could have an adverse effect on the carrying value of the proved reserves, reserve volumes and FCX’s revenues, profitability and cash flows.
FCX’s reference prices for reserve determination are the WTI spot price for crude oil and the Henry Hub spot price for natural gas.
As of February 14, 2014, the twelve-month average of the first-day-of-the-month historical reference price for natural gas has increased from $3.67 per MMBtu at year-end 2013 to $3.89 per MMBtu, while the comparable price for crude oil has increased from $96.94 per barrel at year-end 2013 to $97.46 per barrel.
Historically, the market price for California crude oil differs from the established market indices in the U. S.  primarily because of the higher transportation and refining costs associated with heavy oil.
Recently, however, the market price for California crude oil has strengthened relative to NYMEX and WTI primarily resulting from world demand and declining domestic supplies of both Alaskan and California crude oil.
Approximately 40 percent of FCX’s year-end 2013 oil and natural gas reserve volumes are attributable to properties in California where differentials to the reference prices have been volatile as a result of these factors.
The market price for GOM crude oil differs from WTI as a result of a large portion of FCX’s production being sold under a Heavy Louisiana Sweet based pricing.
Approximately 25 percent of FCX’s 2013 oil and natural gas reserve volumes are attributable to properties in the GOM where oil price realizations are generally higher because of these marketing contracts.
Estimated Quantities of Oil and Natural Gas Reserves.
The following table sets forth certain data pertaining to proved, proved developed and proved undeveloped reserves, all of which are in the U. S. , for the period June 1, 2013, to December 31, 2013.
## Table 3 ##
a.  MMbls = million barrels; Bcf = billion cubic feet; MMBOE = million BOE b.
Included 20 MMBbls of NGL proved reserves, consisting of 14 MMBbls of proved developed and 6 MMBbls of proved undeveloped at December 31, 2013.
From June 1, 2013, to December 31, 2013, FCX had a total of 24 MMBOE of extensions and discoveries, including 16 MMBOE in the Eagle Ford shale play resulting from continued successful drilling that extended and developed FCX’s proved acreage and 5 MMBOE in the Deepwater GOM, primarily associated with the previously drilled Holstein Deep development acquired during 2013.
From June 1, 2013, to December 31, 2013, FCX had net positive revisions of 7 MMBOE consisting of 29 MMBOE primarily related to improved performance at certain FCX onshore California and Deepwater GOM properties, partially offset by performance reductions of 22 MMBOE primarily related to certain other FCX Deepwater GOM properties and the Haynesville shale play.
From June 1, 2013, to December 31, 2013, FCX sold reserves in-place totaling 1 MMBOE related to its Panhandle properties.
Standardized Measure.
The Standardized Measure (discounted at 10 percent) from production of proved oil and natural gas reserves has been developed as of December 31, 2013, in accordance with SEC guidelines.
FCX estimated the quantity of proved oil and natural gas reserves and the future periods in which they are expected to be produced based on year-end economic conditions.
Estimates of future net revenues from FCX’s proved oil and gas properties and the present value thereof were made using the twelve-month average of the first-day-of-themonth historical reference prices as adjusted for location and quality differentials, which are held constant throughout the life of the oil and gas properties, except where such guidelines permit alternate treatment, including the use of fixed and determinable contractual price escalations.
Future gross revenues were
Five-Year Performance Comparison – The following graph provides an indicator of cumulative total shareholder returns for the Corporation as compared to the peer group index (described above), the Dow Jones, and the S&P 500.
The graph assumes that the value of the investment in the common stock of Union Pacific Corporation and each index was $100 on December 31, 2002, and that all dividends were reinvested.

<table><tr><td></td><td></td><td></td><td></td><td colspan="2">Percent change</td></tr><tr><td>years ended December 31 (in millions)</td><td>2013</td><td>2012</td><td>2011</td><td>2013</td><td>2012</td></tr><tr><td>Research and development</td><td>$2,855</td><td>$2,778</td><td>$2,618</td><td>3%</td><td>6%</td></tr><tr><td>as a % of net sales</td><td>15%</td><td>15%</td><td>15%</td><td></td><td></td></tr><tr><td>Acquired in-process research and development</td><td>$338</td><td>$288</td><td>$673</td><td>17%</td><td>-57%</td></tr></table>
<table><tr><td>(in millions)</td><td>December 31, 2016</td><td>Net inflows (outflows)</td><td>Acquisition<sup>-1</sup></td><td>Market change</td><td>FX impact<sup>-2</sup></td><td>December 31, 2017</td><td>Full yearaverage AUM<sup>-3</sup></td></tr><tr><td>Active:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Equity</td><td>$275,033</td><td>$-18,506</td><td>$—</td><td>$46,134</td><td>$8,548</td><td>$311,209</td><td>$293,278</td></tr><tr><td>Fixed income</td><td>749,996</td><td>21,541</td><td>—</td><td>28,800</td><td>14,798</td><td>815,135</td><td>783,345</td></tr><tr><td>Multi-asset</td><td>384,930</td><td>20,747</td><td>—</td><td>47,853</td><td>15,149</td><td>468,679</td><td>425,045</td></tr><tr><td>Alternatives</td><td>91,093</td><td>667</td><td>3,264</td><td>3,479</td><td>2,479</td><td>100,982</td><td>97,361</td></tr><tr><td>Active subtotal</td><td>1,501,052</td><td>24,449</td><td>3,264</td><td>126,266</td><td>40,974</td><td>1,696,005</td><td>1,599,029</td></tr><tr><td>Index andiSharesETFs:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>iSharesETFs:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Equity</td><td>951,252</td><td>174,377</td><td>—</td><td>189,472</td><td>14,509</td><td>1,329,610</td><td>1,143,351</td></tr><tr><td>Fixed income</td><td>314,707</td><td>67,451</td><td>—</td><td>4,497</td><td>8,597</td><td>395,252</td><td>361,171</td></tr><tr><td>Multi-asset</td><td>3,149</td><td>322</td><td>—</td><td>280</td><td>10</td><td>3,761</td><td>3,262</td></tr><tr><td>Alternatives</td><td>18,771</td><td>3,192</td><td>—</td><td>1,478</td><td>175</td><td>23,616</td><td>21,071</td></tr><tr><td>iSharesETFs subtotal</td><td>1,287,879</td><td>245,342</td><td>—</td><td>195,727</td><td>23,291</td><td>1,752,239</td><td>1,528,855</td></tr><tr><td>Non-ETF Index</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Equity</td><td>1,430,891</td><td>-25,725</td><td>—</td><td>289,829</td><td>35,827</td><td>1,730,822</td><td>1,589,130</td></tr><tr><td>Fixed income</td><td>507,662</td><td>89,795</td><td>—</td><td>14,324</td><td>33,297</td><td>645,078</td><td>568,920</td></tr><tr><td>Multi-asset</td><td>6,928</td><td>-739</td><td>—</td><td>1,427</td><td>222</td><td>7,838</td><td>7,596</td></tr><tr><td>Alternatives</td><td>7,074</td><td>-2,882</td><td>—</td><td>294</td><td>263</td><td>4,749</td><td>6,912</td></tr><tr><td>Non-ETF Index subtotal</td><td>1,952,555</td><td>60,449</td><td>—</td><td>305,874</td><td>69,609</td><td>2,388,487</td><td>2,172,558</td></tr><tr><td>Index &iSharesETFs subtotal</td><td>3,240,434</td><td>305,791</td><td>—</td><td>501,601</td><td>92,900</td><td>4,140,726</td><td>3,701,413</td></tr><tr><td>Long-term</td><td>4,741,486</td><td>330,240</td><td>3,264</td><td>627,867</td><td>133,874</td><td>5,836,731</td><td>5,300,442</td></tr><tr><td>Cash management</td><td>403,584</td><td>38,259</td><td>—</td><td>1,239</td><td>6,867</td><td>449,949</td><td>414,835</td></tr><tr><td>Advisory<sup>-4</sup></td><td>2,782</td><td>-1,245</td><td>—</td><td>-205</td><td>183</td><td>1,515</td><td>2,508</td></tr><tr><td>Total</td><td>$5,147,852</td><td>$367,254</td><td>$3,264</td><td>$628,901</td><td>$140,924</td><td>$6,288,195</td><td>$5,717,785</td></tr></table>
<table><tr><td>(in millions)</td><td>December 31, 2016</td><td>Net inflows (outflows)</td><td>Acquisition<sup>-1</sup></td><td>Market change</td><td>FX impact<sup>-2</sup></td><td>December 31, 2017</td><td>Full yearaverage AUM<sup>-3</sup></td></tr><tr><td>Equity</td><td>$2,657,176</td><td>$130,146</td><td>$—</td><td>$525,435</td><td>$58,884</td><td>$3,371,641</td><td>$3,025,759</td></tr><tr><td>Fixed income</td><td>1,572,365</td><td>178,787</td><td>—</td><td>47,621</td><td>56,692</td><td>1,855,465</td><td>1,713,436</td></tr><tr><td>Multi-asset</td><td>395,007</td><td>20,330</td><td>—</td><td>49,560</td><td>15,381</td><td>480,278</td><td>435,903</td></tr><tr><td>Alternatives:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Core</td><td>88,630</td><td>780</td><td>3,264</td><td>3,438</td><td>2,421</td><td>98,533</td><td>94,976</td></tr><tr><td>Currency and commodities<sup>-5</sup></td><td>28,308</td><td>197</td><td>—</td><td>1,813</td><td>496</td><td>30,814</td><td>30,368</td></tr><tr><td>Alternatives subtotal</td><td>116,938</td><td>977</td><td>3,264</td><td>5,251</td><td>2,917</td><td>129,347</td><td>125,344</td></tr><tr><td>Long-term</td><td>4,741,486</td><td>330,240</td><td>3,264</td><td>627,867</td><td>133,874</td><td>5,836,731</td><td>5,300,442</td></tr><tr><td>Cash management</td><td>403,584</td><td>38,259</td><td>—</td><td>1,239</td><td>6,867</td><td>449,949</td><td>414,835</td></tr><tr><td>Advisory<sup>-4</sup></td><td>2,782</td><td>-1,245</td><td>—</td><td>-205</td><td>183</td><td>1,515</td><td>2,508</td></tr><tr><td>Total</td><td>$5,147,852</td><td>$367,254</td><td>$3,264</td><td>$628,901</td><td>$140,924</td><td>$6,288,195</td><td>$5,717,785</td></tr></table>
<table><tr><td></td><td>Oil (MMbls)<sup>a,b</sup></td><td>Gas (Bcf)<sup>a</sup></td><td>Total (MMBOE)<sup>a</sup></td></tr><tr><td>Proved reserves:</td><td></td><td></td><td></td></tr><tr><td>Acquisitions of PXP and MMR</td><td>368</td><td>626</td><td>472</td></tr><tr><td>Extensions and discoveries</td><td>20</td><td>20</td><td>24</td></tr><tr><td>Revisions of previous estimates</td><td>11</td><td>-26</td><td>7</td></tr><tr><td>Sale of reserves in-place</td><td>—</td><td>-3</td><td>-1</td></tr><tr><td>Production</td><td>-29</td><td>-55</td><td>-38</td></tr><tr><td>Balance at December 31, 2013</td><td>370</td><td>562</td><td>464</td></tr><tr><td>Proved developed reserves at December 31, 2013</td><td>236</td><td>423</td><td>307</td></tr><tr><td>Proved undeveloped reserves at December 31, 2013</td><td>134</td><td>139</td><td>157</td></tr></table>

Question: What's the average of Equity and Fixed income in terms of December 31, 2016 in 2016? (in dollars in millions)
Answer: 2114770.5