Operating general and administrative expense, which excludes integration charges, increased $123 million, or 10%, to $1.3 billion for the year ended December 31, 2011 compared to $1.2 billion for the prior year reflecting an additional four months of ongoing expenses of Columbia Management, as well as higher investment spending compared to the prior year, partially offset by lower hedge fund performance compensation.
Annuities Our Annuities segment provides variable and fixed annuity products of RiverSource Life companies to retail clients.
Prior to the fourth quarter of 2010, we provided our variable annuity products through our affiliated advisors as well as unaffiliated advisors through third-party distribution.
During the fourth quarter of 2010, we discontinued new sales of our variable annuities in non-Ameriprise channels to further strengthen the risk and return characteristics of the business.
We provide our fixed annuity products through affiliated advisors as well as unaffiliated advisors through third-party distribution.
Revenues for our variable annuity products are primarily earned as fees based on underlying account balances, which are impacted by both market movements and net asset flows.
Revenues for our fixed annuity products are primarily earned as net investment income on invested assets supporting fixed account balances, with profitability significantly impacted by the spread between net investment income earned and interest credited on the fixed account balances.
We also earn net investment income on invested assets supporting reserves for immediate annuities and for certain guaranteed benefits offered with variable annuities and on capital supporting the business.
Intersegment revenues for this segment reflect fees paid by the Asset Management segment for marketing support and other services provided in connection with the availability of RiverSource Variable Series Trust, Columbia Funds Variable Insurance Trust, Columbia Funds Variable Insurance Trust I and Wanger Advisors Trust funds under the variable annuity contracts.
Intersegment expenses for this segment include distribution expenses for services provided by the Advice & Wealth Management segment, as well as expenses for investment management services provided by the Asset Management segment.
Management believes that operating measures, which exclude net realized gains or losses and the market impact on variable annuity guaranteed living benefits, net of hedges, DSIC and DAC amortization, for our Annuities segment, best reflect the underlying performance of our core operations and facilitate a more meaningful trend analysis.
See our discussion on the use of these non-GAAP measures in the Overview section above.
The following table presents the results of operations of our Annuities segment:
## Table 0 ##
NM Not Meaningful.
(1) Adjustments include net realized gains or losses and the market impact on variable annuity living benefits, net of hedges, DSIC and DAC amortization.
Our Annuities segment pretax income decreased $127 million, or 20%, to $521 million for the year ended December 31, 2011 compared to $648 million for the prior year.
Our Annuities segment pretax operating income, which excludes net realized gains or losses and the market impact on variable annuity guaranteed living benefits, net of hedges, DSIC and DAC amortization, decreased $85 million, or 13%, to $579 million for the year ended December 31, 2011 compared to
apply as it has no impact on plan obligations.
For 2015, the healthcare trend rate was 7%, the ultimate trend rate was 5%, and the year the ultimate trend rate is reached was 2019.
Projected benefit payments are as follows:
## Table 1 ##
These estimated benefit payments are based on assumptions about future events.
Actual benefit payments may vary significantly from these estimates.17.
COMMITMENTS AND CONTINGENCIES LITIGATION We are involved in various legal proceedings, including commercial, competition, environmental, health, safety, product liability, and insurance matters.
In September 2010, the Brazilian Administrative Council for Economic Defense (CADE) issued a decision against our Brazilian subsidiary, Air Products Brasil Ltda.
, and several other Brazilian industrial gas companies for alleged anticompetitive activities.
CADE imposed a civil fine of R$179.2 million (approximately $55 at 30 September 2016) on Air Products Brasil Ltda.
This fine was based on a recommendation by a unit of the Brazilian Ministry of Justice, whose investigation began in 2003, alleging violation of competition laws with respect to the sale of industrial and medical gases.
The fines are based on a percentage of our total revenue in Brazil in 2003.
We have denied the allegations made by the authorities and filed an appeal in October 2010 with the Brazilian courts.
On 6 May 2014, our appeal was granted and the fine against Air Products Brasil Ltda.
was dismissed.
CADE has appealed that ruling and the matter remains pending.
We, with advice of our outside legal counsel, have assessed the status of this matter and have concluded that, although an adverse final judgment after exhausting all appeals is possible, such a judgment is not probable.
As a result, no provision has been made in the consolidated financial statements.
We estimate the maximum possible loss to be the full amount of the fine of R$179.2 million (approximately $55 at 30 September 2016) plus interest accrued thereon until final disposition of the proceedings.
Other than this matter, we do not currently believe there are any legal proceedings, individually or in the aggregate, that are reasonably possible to have a material impact on our financial condition, results of operations, or cash flows.
ENVIRONMENTAL In the normal course of business, we are involved in legal proceedings under the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA: the federal Superfund law); Resource Conservation and Recovery Act (RCRA); and similar state and foreign environmental laws relating to the designation of certain sites for investigation or remediation.
Presently, there are approximately 33 sites on which a final settlement has not been reached where we, along with others, have been designated a potentially responsible party by the Environmental Protection Agency or are otherwise engaged in investigation or remediation, including cleanup activity at certain of our current and former manufacturing sites.
We continually monitor these sites for which we have environmental exposure.
Accruals for environmental loss contingencies are recorded when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated.
The consolidated balance sheets at 30 September 2016 and 2015 included an accrual of $81.4 and $80.6, respectively, primarily as part of other noncurrent liabilities.
The environmental liabilities will be paid over a period of up to 30 years.
We estimate the exposure for environmental loss contingencies to range from $81 to a reasonably possible upper exposure of $95 as of 30 September 2016.
HENRY SCHEIN, INC.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued) (in thousands, except per share data) 88 Note 15 – Segment and Geographic Data We conduct our business through two reportable segments: health care distribution and technology and valueadded services.
These segments offer different products and services to the same customer base.
The health care distribution reportable segment aggregates our global dental, animal health and medical operating segments.
This segment consists of consumable products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products and vitamins.
Our global dental group serves office-based dental practitioners, dental laboratories, schools and other institutions.
Our global animal health group serves animal health practices and clinics.
Our global medical group serves office-based medical practitioners, ambulatory surgery centers, other alternate-care settings and other institutions.
Our global dental, animal health and medical groups serve practitioners in 25 countries worldwide.
Our global technology and value-added services group provides software, technology and other value-added services to health care practitioners.
Our technology group offerings include practice management software systems for dental and medical practitioners and animal health clinics.
Our value-added practice solutions include financial services on a non-recourse basis, e-services and continuing education services for practitioners.
Beginning with the first quarter of 2012, we have reported net sales and prior-year sales comparisons for each of our global dental, animal health and medical and global technology and value-added services business groups.
This sales reporting is consistent with our global business groups as realigned in 2012.
These groups have been formed to provide distinct organizational focus for reaching and serving each practitioner segment with the benefits of a global perspective, as well as global product and service offerings and best practices.
We will continue to report financial results for our health care distribution and technology and value-added services reportable segments.
The health care distribution segment comprises three global operating segments (dental, animal health and medical) and the technology and value-added services segment remains unchanged.
In connection with this change in business groups, goodwill was reallocated to the new reporting units.
We reviewed the newly allocated goodwill and determined that there was no impairment.
The following tables present information about our reportable and operating segments:
## Table 2 ##
(1) Consists of consumable products, small equipment, laboratory products, large equipment, equipment repair services, branded and generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products and vitamins.
(2) Consists of practice management software and other value-added products, which are distributed primarily to health care providers, and financial and other services, including e-services and continuing education services for practitioners.
Notes to Consolidated Financial Statements Note 8.
Property, Plant and Equipment  (Continued) Offshore Drilling Equipment In the third quarter of 2010, Diamond Offshore completed the sale of one of its high performance, premium jackup drilling rigs, the Ocean Shield for a gross purchase price of $186 million and recognized a pretax gain of approximately $33 million.
Natural Gas and Oil Proved and Unproved Properties Sale of Assets In 2010, HighMount completed the sales of substantially all exploration and production assets located in the Antrim Shale in Michigan and in the Black Warrior Basin in Alabama for $540 million.
In accordance with the full cost method of accounting, proceeds from these sales were accounted for as reductions of capitalized costs, and recorded as credits to Accumulated depreciation, depletion and amortization.
See Note 2 for additional information related to these sales.
Impairment of Natural Gas and Oil Properties At March 31, 2009 and December 31, 2008, HighMount recorded non-cash ceiling test impairment charges of $1,036 million ($660 million after tax) and $691 million ($440 million after tax), related to its carrying value of natural gas and oil properties.
The impairments were recorded as credits to DD&A.
The write-downs were the result of declines in commodity prices.
Had the effects of HighMount’s cash flow hedges not been considered in calculating the ceiling limitation, the impairments would have been $1,230 million ($784 million after tax) in 2009 and $873 million ($555 million, after tax) in 2008.
No such impairment was required during 2010.
Costs Not Being Amortized HighMount excludes from amortization the cost of unproved properties, the cost of exploratory wells in progress and major development projects in progress.
Natural gas and oil property and equipment costs not being amortized as of December 31, 2010, are as follows, by the year in which such costs were incurred:
## Table 3 ##
Note 9.
Claim and Claim Adjustment Expense Reserves CNA’s property and casualty insurance claim and claim adjustment expense reserves represent the estimated amounts necessary to resolve all outstanding claims, including claims that are incurred but not reported (“IBNR”) as of the reporting date.
CNA’s reserve projections are based primarily on detailed analysis of the facts in each case, CNA’s experience with similar cases and various historical development patterns.
Consideration is given to such historical patterns as field reserving trends and claims settlement practices, loss payments, pending levels of unpaid claims and product mix, as well as court decisions, economic conditions and public attitudes.
All of these factors can affect the estimation of claim and claim adjustment expense reserves.
Establishing claim and claim adjustment expense reserves, including claim and claim adjustment expense reserves for catastrophic events that have occurred, is an estimation process.
Many factors can ultimately affect the final settlement of a claim and, therefore, the necessary reserve.
Changes in the law, results of litigation, medical costs, the cost of repair materials and labor rates can all affect ultimate claim costs.
In addition, time can be a critical part of reserving determinations since the longer the span between the incidence of a loss and the payment or settlement of the claim, the more variable the ultimate settlement amount can be.
Accordingly, short-tail claims, such as property damage claims, tend to be more reasonably estimable than long-tail claims, such as workers’ compensation,
Item 1.  Business CNA Financial Corporation – (Continued) The loss reserve development table is cumulative and, therefore, ending balances should not be added since the amount at the end of each calendar year includes activity for both the current and prior years.
The development amounts in the table below include the impact of commutations, but exclude the impact of the allowance for doubtful accounts on reinsurance receivables.
## Table 4 ##
(a) Effective January 1, 2001, CNA established a new life insurance company, CNA Group Life Assurance Company (“CNAGLA”).
Further, on January 1, 2001, $1.1 billion of reserves were transferred from CCC to CNAGLA.
(b) Effective October 31, 2002, CNA sold CNA Reinsurance Company Limited.
As a result of the sale, net reserves were reduced by $1.3 billion.
(c) Effective January 1, 2010, CNA ceded approximately $1.5 billion of net asbestos and environmental pollution (“A&EP”) claim and allocated claim adjustment expense reserves relating to its continuing operations under a retroactive reinsurance agreement with an aggregate limit of $4.0 billion, as further discussed in Note 9 of the Notes to Consolidated Financial Statements included under Item 8.
PART IVItem 15.
Exhibits, Financial Statement Schedules(1) Financial StatementsOur Consolidated Financial Statements have been prepared in accordance with Item 8.
Financial Statements and Supplementary Data and are included beginning on page F-1 of this report.
(2) Financial Statement SchedulesSchedule II: Valuation and Qualifying Accounts for the three years ended December 31, 2018 are included on page 61.

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Years Ended December 31,
2011	2010
GAAP	Less: Adjustments -1	Operating	GAAP	Less: Adjustments -1	Operating	Operating Change
(in millions)
Revenues
Management and financial advice fees	$622	$—	$622	$546	$—	$546	$76	14%
Distribution fees	312	—	312	284	—	284	28	10
Net investment income	1,280	1	1,279	1,318	9	1,309	-30	-2
Premiums	161	—	161	150	—	150	11	7
Other revenues	256	—	256	202	—	202	54	27
Total revenues	2,631	1	2,630	2,500	9	2,491	139	6
Banking and deposit interest expense	—	—	—	—	—	—	—	—
Total net revenues	2,631	1	2,630	2,500	9	2,491	139	6
Expenses
Distribution expenses	315	—	315	268	—	268	47	18
Interest credited to fixed accounts	711	—	711	762	—	762	-51	-7
Benefits, claims, losses and settlement expenses	472	67	405	691	9	682	-277	-41
Amortization of deferred acquisition costs	398	-8	406	-76	16	-92	498	NM
Interest and debt expense	1	—	1	2	—	2	-1	-50
General and administrative expense	213	—	213	205	—	205	8	4
Total expenses	2,110	59	2,051	1,852	25	1,827	224	12
Pretax income	$521	$-58	$579	$648	$-16	$664	$-85	-13%

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2017	$11.5
2018	11.0
2019	10.7
2020	10.2
2021	9.7
2022–2026	35.3

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Years Ended
December 28, 2013	December 29, 2012	December 31, 2011
Net Sales:
Health care distribution -1:
Dental	$4,997,972	$4,774,482	$4,764,898
Animal health	2,599,461	2,321,151	2,010,270
Medical	1,643,167	1,560,921	1,504,454
Total health care distribution	9,240,600	8,656,554	8,279,622
Technology and value-added services -2	320,047	283,413	250,620
Total	$9,560,647	$8,939,967	$8,530,242
-1	Consists of consumable products, small equipment, laboratory products, large equipment, equipment repair services, branded and
generic pharmaceuticals, vaccines, surgical products, diagnostic tests, infection-control products and vitamins.
-2	Consists of practice management software and other value-added products, which are distributed primarily to health care providers,
and financial and other services, including e-services and continuing education services for practitioners.

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Total	2010	2009	2008	2007
(In millions)
Acquisition costs	$244	$9	$1	$1	$233
Exploration costs	2	1	1
Capitalized interest	26	15	4	5	2
Total excluded costs	$272	$25	$5	$7	$235

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Schedule of Loss Reserve Development
Year Ended December 31	2000	2001(a)	2002(b)	2003	2004	2005	2006	2007	2008	2009	2010(c)
(In millions of dollars)
Originally reported gross reserves for unpaid claim and claim adjustment expenses	26,510	29,649	25,719	31,284	31,204	30,694	29,459	28,415	27,475	26,712	25,412
Originally reported ceded recoverable	7,333	11,703	10,490	13,847	13,682	10,438	8,078	6,945	6,213	5,524	6,060
Originally reported net reserves for unpaid claim and claim adjustmentexpenses	19,177	17,946	15,229	17,437	17,522	20,256	21,381	21,470	21,262	21,188	19,352
Cumulative net paid as of:
One year later	7,686	5,981	5,373	4,382	2,651	3,442	4,436	4,308	3,930	3,762	-
Two years later	11,992	10,355	8,768	6,104	4,963	7,022	7,676	7,127	6,746	-	-
Three years later	15,291	12,954	9,747	7,780	7,825	9,620	9,822	9,102	-	-	-
Four years later	17,333	13,244	10,870	10,085	9,914	11,289	11,312	-	-	-	-
Five years later	17,775	13,922	12,814	11,834	11,261	12,465	-	-	-	-	-
Six years later	18,970	15,493	14,320	12,988	12,226	-	-	-	-	-	-
Seven years later	20,297	16,769	15,291	13,845	-	-	-	-	-	-	-
Eight years later	21,382	17,668	16,022	-	-	-	-	-	-	-	-
Nine years later	22,187	18,286	-	-	-	-	-	-	-	-	-
Ten years later	22,826	-	-	-	-	-	-	-	-	-	-
Net reserves re-estimated as of:
End of initial year	19,177	17,946	15,229	17,437	17,522	20,256	21,381	21,470	21,262	21,188	19,352
One year later	21,502	17,980	17,650	17,671	18,513	20,588	21,601	21,463	21,021	20,643	-
Two years later	21,555	20,533	18,248	19,120	19,044	20,975	21,706	21,259	20,472	-	-
Three years later	24,058	21,109	19,814	19,760	19,631	21,408	21,609	20,752	-	-	-
Four years later	24,587	22,547	20,384	20,425	20,212	21,432	21,286	-	-	-	-
Five years later	25,594	22,983	21,076	21,060	20,301	21,326	-	-	-	-	-
Six years later	26,023	23,603	21,769	21,217	20,339	-	-	-	-	-	-
Seven years later	26,585	24,267	21,974	21,381	-	-	-	-	-	-	-
Eight years later	27,207	24,548	22,168	-	-	-	-	-	-	-	-
Nine years later	27,510	24,765	-	-	-	-	-	-	-	-	-
Ten years later	27,702	-	-	-	-	-	-	-	-	-	-
Total net (deficiency) redundancy	-8,525	-6,819	-6,939	-3,944	-2,817	-1,070	95	718	790	545	-
Reconciliation to gross re-estimated reserves:
Net reserves re-estimated	27,702	24,765	22,168	21,381	20,339	21,326	21,286	20,752	20,472	20,643	-
Re-estimated ceded recoverable	11,397	16,911	16,279	14,639	13,507	10,846	8,541	7,180	6,168	5,559	-
Total gross re-estimated reserves	39,099	41,676	38,447	36,020	33,846	32,172	29,827	27,932	26,640	26,202	-
Total gross (deficiency) redundancy	-12,589	-12,027	-12,728	-4,736	-2,642	-1,478	-368	483	835	510	-
Net (deficiency) redundancy related to:
Asbestos	-1,590	-818	-827	-177	-123	-113	-112	-107	-79	-	-
Environmental pollution	-635	-288	-282	-209	-209	-159	-159	-159	-76	-	-
Total asbestos and environmental pollution	-2,225	-1,106	-1,109	-386	-332	-272	-271	-266	-155	-	-
Core (Non-asbestos and environmental pollution)	-6,300	-5,713	-5,830	-3,558	-2,485	-798	366	984	945	545	-
Total net (deficiency) redundancy	-8,525	-6,819	-6,939	-3,944	-2,817	-1,070	95	718	790	545	-

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Question: In the year with the most Originally reported net reserves for unpaid claim and claim adjustmentexpenses, what is the growth rate of One year later?
Answer: -0.08774000000000001