the net decrease in the 2016 effective tax rate was due , in part , to the 2016 asset impairments in the u.s .
and to the current year benefit related to a restructuring of one of our brazilian businesses that increases tax basis in long-term assets .
further , the 2015 rate was impacted by the items described below .
see note 20 2014asset impairment expense for additional information regarding the 2016 u.s .
asset impairments .
income tax expense increased $ 101 million , or 27% ( 27 % ) , to $ 472 million in 2015 .
the company's effective tax rates were 41% ( 41 % ) and 26% ( 26 % ) for the years ended december 31 , 2015 and 2014 , respectively .
the net increase in the 2015 effective tax rate was due , in part , to the nondeductible 2015 impairment of goodwill at our u.s .
utility , dp&l and chilean withholding taxes offset by the release of valuation allowance at certain of our businesses in brazil , vietnam and the u.s .
further , the 2014 rate was impacted by the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin aes pte ltd. , which owns the company 2019s business interests in the philippines and the 2014 sale of the company 2019s interests in four u.k .
wind operating projects .
neither of these transactions gave rise to income tax expense .
see note 15 2014equity for additional information regarding the sale of approximately 45% ( 45 % ) of the company 2019s interest in masin-aes pte ltd .
see note 23 2014dispositions for additional information regarding the sale of the company 2019s interests in four u.k .
wind operating projects .
our effective tax rate reflects the tax effect of significant operations outside the u.s. , which are generally taxed at rates lower than the u.s .
statutory rate of 35% ( 35 % ) .
a future proportionate change in the composition of income before income taxes from foreign and domestic tax jurisdictions could impact our periodic effective tax rate .
the company also benefits from reduced tax rates in certain countries as a result of satisfying specific commitments regarding employment and capital investment .
see note 21 2014income taxes for additional information regarding these reduced rates .
foreign currency transaction gains ( losses ) foreign currency transaction gains ( losses ) in millions were as follows: .

years ended december 31,
2016
2015
2014
aes corporation
$ -50 ( 50 )
$ -31 ( 31 )
$ -34 ( 34 )
chile
-9 ( 9 )
-18 ( 18 )
-30 ( 30 )
colombia
-8 ( 8 )
29
17
mexico
-8 ( 8 )
-6 ( 6 )
-14 ( 14 )
philippines
12
8
11
united kingdom
13
11
12
argentina
37
124
66
other
-2 ( 2 )
-10 ( 10 )
-17 ( 17 )
total ( 1 )
$ -15 ( 15 )
$ 107
$ 11

total ( 1 ) $ ( 15 ) $ 107 $ 11 _____________________________ ( 1 ) includes gains of $ 17 million , $ 247 million and $ 172 million on foreign currency derivative contracts for the years ended december 31 , 2016 , 2015 and 2014 , respectively .
the company recognized a net foreign currency transaction loss of $ 15 million for the year ended december 31 , 2016 primarily due to losses of $ 50 million at the aes corporation mainly due to remeasurement losses on intercompany notes , and losses on swaps and options .
this loss was partially offset by gains of $ 37 million in argentina , mainly due to the favorable impact of foreign currency derivatives related to government receivables .
the company recognized a net foreign currency transaction gain of $ 107 million for the year ended december 31 , 2015 primarily due to gains of : 2022 $ 124 million in argentina , due to the favorable impact from foreign currency derivatives related to government receivables , partially offset by losses from the devaluation of the argentine peso associated with u.s .
dollar denominated debt , and losses at termoandes ( a u.s .
dollar functional currency subsidiary ) primarily associated with cash and accounts receivable balances in local currency , 2022 $ 29 million in colombia , mainly due to the depreciation of the colombian peso , positively impacting chivor ( a u.s .
dollar functional currency subsidiary ) due to liabilities denominated in colombian pesos , 2022 $ 11 million in the united kingdom , mainly due to the depreciation of the pound sterling , resulting in gains at ballylumford holdings ( a u.s .
dollar functional currency subsidiary ) associated with intercompany notes payable denominated in pound sterling , and .

Question: what was the average effective tax rate for december 31 , 2015 and 2014?
Answer: 33.5