are reclassified to contributions in aid of construction.
Utility plant funded by advances and contributions is excluded from the rate base.
Generally, we depreciate contributed property and amortize contributions in aid of construction at the composite rate of the related property.
Some of our subsidiaries do not depreciate contributed property, based on regulatory guidelines.
We use our capital resources, including cash, primarily to; (i) fund operating and capital requirements; (ii) pay interest and meet debt maturities; (iii) pay dividends; (iv) fund pension and postretirement welfare obligations; and (v) fund acquisitions.
We invest a significant amount of cash on regulated capital projects where we expect to earn a long-term return on investment.
Additionally, we operate in rate-regulated environments in which the amount of new investment recovery may be limited, and where such recovery takes place over an extended period of time, as our recovery is subject to regulatory lag.
See Item 1—Business—Operating Segments—Regulated Businesses—Economic Regulation and Rate Making Process.
We expect to fund future maturities of long-term debt through a combination of external debt and, to the extent available, cash flows from operations.
Since we expect our capital investments over the next few years to be greater than or equal to our cash flows from operating activities, we have no plans to reduce debt significantly.
If necessary, the Company may delay certain capital investments or other funding requirements or pursue financing from other sources to preserve liquidity, if necessary.
In this event, we believe we can rely upon cash flows from operations to meet our obligations and fund our minimum required capital investments for an extended period of time.
Cash Flows Provided by Operating Activities Cash flows provided by operating activities primarily result from the sale of water and wastewater services and, due to the seasonality of demand, are generally greater during the third quarter of each fiscal year.
Our future cash flows provided by operating activities will be affected by, among other things, economic utility regulation; infrastructure investment; inflation; compliance with environmental, health and safety standards; production costs; customer growth; declining customer usage of water; employee-related costs, including pension funding; weather and seasonality; and overall economic conditions.
Cash flows provided by operating activities have been a reliable, steady source of funding, sufficient to meet operating requirements, make our dividend payments and fund a portion of our capital expenditure requirements.
We expect to seek access to debt capital markets to meet the balance of our capital expenditure requirements as needed.
We also have access to equity capital markets, if needed.
Operating cash flows can be negatively affected by changes in our rate regulated environments or changes in our customers’ economic outlook and ability to pay for service in a timely manner.
As such, our working capital needs are primarily limited to funding increases in customer accounts receivable and unbilled revenues mainly associated with revenue increases in our Regulated Businesses.
We can provide no assurance that our customers’ historical payment pattern will continue in the future.
We address cash timing differences through the liquidity funding mechanisms discussed above.
The following table provides a summary of the major items affecting our cash flows provided by operating activities:
## Table 0 ##
Baker Hughes, a GE company Notes to Consolidated and Combined Financial Statements
## Table 1 ##
The allocation of net loss to holders of shares of Class A common stock began following the close of the Transactions on July 3, 2017.
Therefore, the earnings per share is Nil for 2016 and 2015.
Please refer to "Note 2.  Business Acquisition" for proforma earnings per share.
As of July 3, 2017, GE, BHGE and BHGE LLC entered into an Exchange Agreement under which GE is entitled to exchange its holding in Class B common stock and units of BHGE LLC for Class A common stock on a one-forone basis (subject to adjustment in accordance with the terms of the Exchange Agreement) or, at the option of BHGE, an amount of cash equal to the aggregate value of the shares of Class A common stock that would have otherwise been received by GE in the exchange.
In computing the dilutive effect, if any, that the aforementioned exchange would have on net income (loss) per share, net income (loss) attributable to holders of Class A common stock would be adjusted due to the elimination of the noncontrolling interests associated with the Class B common stock (including any tax impact).
For the year ended December 31, 2017, such exchange is not reflected in diluted net income (loss) per share as the assumed exchange is not dilutive.
For the year ended December 31, 2017, we excluded outstanding stock options and RSUs from the computation of diluted net income (loss) per share because their effect is antidilutive.
Shares of our Class B common stock do not share in earnings or losses of the Company and are not considered in the calculation of basic or diluted earnings per share (EPS).
As such, separate presentation of basic and diluted EPS of Class B under the two class method has not been presented.
NOTE 14.
FINANCIAL INSTRUMENTS RECURRING FAIR VALUE MEASUREMENTS Our assets and liabilities measured at fair value on a recurring basis consists of derivative instruments and investment securities.
## Table 2 ##
Notes to Consolidated Financial Statements (continued) disclosure of, the issuance of certain types of guarantees.
The adoption of FASB Interpretation No.45 did not have a significant impact on the net income or equity of the Company.
In January 2003, FASB Interpretation No.46, “Consolidation of Variable Interest Entities, an interpretation of ARB 51,” was issued.
The primary objectives of this interpretation, as amended, are to provide guidance on the identification and consolidation of variable interest entities, or VIEs, which are entities for which control is achieved through means other than through voting rights.
The Company has completed an analysis of this Interpretation and has determined that it does not have any VIEs.4.
Acquisitions Family Health Plan, Inc.
Effective January 1, 2004, the Company commenced operations in Ohio through the acquisition from Family Health Plan, Inc.  of certain Medicaid-related assets for a purchase price of approximately $6,800.
The cost to acquire the Medicaid-related assets will be allocated to the assets acquired and liabilities assumed according to estimated fair values.
HMO Blue Texas Effective August 1, 2003, the Company acquired certain Medicaid-related contract rights of HMO Blue Texas in the San Antonio, Texas market for $1,045.
The purchase price was allocated to acquired contracts, which are being amortized on a straight-line basis over a period of five years, the expected period of benefit.
Group Practice Affiliates During 2003, the Company acquired a 100% ownership interest in Group Practice Affiliates, LLC, a behavioral healthcare services company (63.7% in March 2003 and 36.3% in August 2003).
The consolidated financial statements include the results of operations of GPA since March 1, 2003.
The Company paid $1,800 for its purchase of GPA.
The cost to acquire the ownership interest has been allocated to the assets acquired and liabilities assumed according to estimated fair values and is subject to adjustment when additional information concerning asset and liability valuations are finalized.
The preliminary allocation has resulted in goodwill of approximately $3,895.
The goodwill is not amortized and is not deductible for tax purposes.
Pro forma disclosures related to the acquisition have been excluded as immaterial.
ScriptAssist In March 2003, the Company purchased contract and name rights of ScriptAssist, LLC (ScriptAssist), a medication compliance company.
The purchase price of $563 was allocated to acquired contracts, which are being amortized on a straight-line basis over a period of five years, the expected period of benefit.
The investor group who held membership interests in ScriptAssist included one of the Company’s executive officers.
University Health Plans, Inc.  On December 1, 2002, the Company purchased 80% of the outstanding capital stock of University Health Plans, Inc.  (UHP) in New Jersey.
In October 2003, the Company exercised its option to purchase the remaining 20% of the outstanding capital stock.
Centene paid a total purchase price of $13,258.
The results of operations for UHP are included in the consolidated financial statements since December 1, 2002.
The acquisition of UHP resulted in identified intangible assets of $3,800, representing purchased contract rights and provider network.
The intangibles are being amortized over a ten-year period.
Goodwill of $7,940 is not amortized and is not deductible for tax purposes.
Changes during 2003 to the preliminary purchase price allocation primarily consisted of the purchase of the remaining 20% of the outstanding stock and the recognition of intangible assets and related deferred tax liabilities.
The following unaudited pro forma information presents the results of operations of Centene and subsidiaries as if the UHP acquisition described above had occurred as of January 1, 2001.
These pro forma results may not necessarily reflect the actual results of operations that would have been achieved, nor are they necessarily indicative of future results of operations.
## Table 3 ##
Texas Universities Health Plan In June 2002, the Company purchased SCHIP contracts in three Texas service areas.
The cash purchase price of $595 was recorded as purchased contract rights, which are being amortized on a straight-line basis over five years, the expected period of benefit.
Bankers Reserve In March 2002, the Company acquired Bankers Reserve Life Insurance Company of Wisconsin for a cash purchase price of $3,527.
The Company allocated the purchase price to net tangible and identifiable intangible assets based on their fair value.
Centene allocated $479 to identifiable intangible assets, representing the value assigned to acquired licenses, which are being amortized on a straight-line basis over a
M & T BANK CORPORATION AND SUBSIDIARIES Notes to Financial Statements — (Continued) delinquent or foreclosed loans from the trusts by the Company in 2006 or 2005.
Certain cash flows between the Company and the trusts were as follows:
## Table 4 ##
A summary of the fair values of retained subordinated interests resulting from the Company’s residential mortgage loan securitization activities follows.
Although the estimated fair values of the retained subordinated interests were obtained from independent pricing sources, the Company has modeled the sensitivity of such fair values to changes in certain assumptions as summarized in the table below.
These calculated sensitivities are hypothetical and actual changes in the fair value may differ significantly from the amounts presented herein.
The effect of a variation in a particular assumption on the fair values is calculated without changing any other assumption.
In reality, changes in one factor may result in changes in another which may magnify or counteract the sensitivities.
The changes in assumptions are presumed to be instantaneous.
The hypothetical effect of adverse changes on the Company’s retained capitalized servicing assets at December 31, 2006 is included in note 7.

<table><tr><td></td><td colspan="3">For the Years Ended December 31,</td></tr><tr><td></td><td>2015</td><td>2014</td><td>2013</td></tr><tr><td></td><td colspan="3">(In millions)</td></tr><tr><td>Net income</td><td>$476</td><td>$423</td><td>$369</td></tr><tr><td>Add (less):</td><td></td><td></td><td></td></tr><tr><td>Non-cash activities(a)</td><td>773</td><td>723</td><td>762</td></tr><tr><td>Changes in working capital(b)</td><td>-13</td><td>3</td><td>-137</td></tr><tr><td>Pension and postretirement benefit contributions</td><td>-57</td><td>-52</td><td>-98</td></tr><tr><td>Net cash flows provided by operating activities</td><td>$1,179</td><td>$1,097</td><td>$896</td></tr></table>
<table><tr><td>(In millions, except per share amounts)</td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>Net income (loss)</td><td>$-242</td><td>$334</td><td>$-631</td></tr><tr><td>Less: Net income (loss) attributable to GE O&G pre-merger</td><td>109</td><td>403</td><td>-606</td></tr><tr><td>Less: Net loss attributable to noncontrolling interests</td><td>-278</td><td>-69</td><td>-25</td></tr><tr><td>Net loss attributable to BHGE</td><td>$-73</td><td>$—</td><td>$—</td></tr><tr><td>Weighted average shares outstanding:</td><td></td><td></td><td></td></tr><tr><td>Class A basic & diluted</td><td>427</td><td></td><td></td></tr><tr><td>Net loss per share attributable to common stockholders:</td><td></td><td></td><td></td></tr><tr><td>Class A basic & diluted</td><td>$-0.17</td><td></td><td></td></tr></table>
<table><tr><td></td><td colspan="4">2017</td><td colspan="4">2016</td></tr><tr><td></td><td>Level 1</td><td>Level 2</td><td>Level 3</td><td>Net Balance</td><td>Level 1</td><td>Level 2</td><td>Level 3</td><td>Net Balance</td></tr><tr><td>Assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Derivatives</td><td>$—</td><td>$150</td><td>$—</td><td>$150</td><td>$—</td><td>$318</td><td>$—</td><td>$318</td></tr><tr><td>Investment securities</td><td>81</td><td>8</td><td>304</td><td>393</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Total assets</td><td>81</td><td>158</td><td>304</td><td>543</td><td>—</td><td>318</td><td>—</td><td>318</td></tr><tr><td>Liabilities</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Derivatives</td><td>—</td><td>-95</td><td>—</td><td>-95</td><td>—</td><td>-375</td><td>—</td><td>-375</td></tr><tr><td>Total liabilities</td><td>$—</td><td>$-95</td><td>$—</td><td>$-95</td><td>$—</td><td>$-375</td><td>$—</td><td>$-375</td></tr></table>
<table><tr><td></td><td>2002</td><td>2001</td></tr><tr><td>Revenue</td><td>$567,048</td><td>$395,155</td></tr><tr><td>Net earnings</td><td>25,869</td><td>11,573</td></tr><tr><td>Diluted earnings per common share</td><td>1.48</td><td>1.00</td></tr></table>
<table><tr><td></td><td colspan="2"> Year Ended December 31</td></tr><tr><td></td><td> 2006</td><td> 2005</td></tr><tr><td></td><td colspan="2"> (In thousands)</td></tr><tr><td>Principal and interest payments on retained securities</td><td>$173,207</td><td>$240,211</td></tr><tr><td>Servicing fees received</td><td>2,223</td><td>2,735</td></tr></table>

Question: what was the percentage change in pro forma diluted earnings per common share from 2001 to 2002?
Answer: 0.48