Notes to Consolidated Financial Statements – (continued) (Amounts in Millions, Except per Share Amounts) common stock.
The Series B Preferred Stock may be converted at our option if the closing price of our common stock multiplied by the conversion rate in effect at that time equals or exceeds 130% of the liquidation preference for 20 trading days during any consecutive 30 trading day period.
Holders of the Series B Preferred Stock will be entitled to an adjustment to the conversion rate if they convert their shares in connection with a fundamental change satisfying certain specified conditions.
The Series B Preferred Stock is junior to all of our existing and future debt obligations and senior to our common stock with respect to payments of dividends and rights upon liquidation, winding up or dissolution, to the extent of the liquidation preference.
The number of shares outstanding, conversion rates and corresponding conversion prices and conversion shares for our Series B Preferred Stock are listed below.
## Table 0 ##
During 2012 and 2011, the conversion rate per share for our Series B Preferred Stock was adjusted as a result of the cumulative effect of certain cash dividends declared and paid on our common stock during the year, which resulted in a corresponding adjustment of the conversion price and conversion shares.
In 2010, we launched a tender offer and purchased 303,526 shares (actual number) of our Series B Preferred Stock for cash for an aggregate purchase price of $267.6.
The aggregate purchase price was calculated as the number of shares tendered multiplied by the purchase price of $869.86 per share plus unpaid dividends of $1.9, which were prorated for the period the tendered shares were outstanding, and transaction costs directly associated with the repurchase.
The carrying value of the tendered shares was $293.3 and was determined based on the number of shares tendered multiplied by the liquidation preference, less the pro-rata amount of issuance costs associated with the original issuance of the preferred stock.
A benefit of $25.7, representing the excess carrying value of the tendered shares over consideration from the repurchase, was recorded as an adjustment to additional paid-in capital.
Additionally, the pro-rata amount of issuance costs of $10.2 was recorded as an adjustment to additional paid-in capital.
The terms of our Series B Preferred Stock do not permit us to pay dividends on our common stock unless all accumulated and unpaid dividends on the Series B Preferred Stock have been or contemporaneously are declared and paid, or provision for the payment thereof has been made.
We declared annual dividends of $52.50 per share, or $11.6, $11.6 and $15.6, on our Series B Preferred Stock during 2012, 2011 and 2010, respectively.
Regular quarterly dividends, if declared, are $13.125 per share.
Dividends on each share of Series B Preferred Stock are payable quarterly in cash or, if certain conditions are met, in common stock, at our option on January 15, April 15, July 15 and October 15, or the next business date if these dates fall on the weekend or a holiday, of each year.
Dividends on our Series B Preferred Stock are cumulative from the date of issuance and are payable on each payment date to the extent that we have assets that are legally available to pay dividends and our Board of Directors, or an authorized committee of our Board, declares a dividend payable.
The terms of the Series B Preferred Stock include an embedded derivative instrument, the fair value of which as of December 31, 2012 and 2011 was negligible.
The Series B Preferred Stock is not considered a security with participation rights in earnings available to IPG common stockholders due to the contingent nature of the conversion feature of these securities.
was estimated on the date of the grant using a Monte-Carlo simulation method.
The assumptions related to this grant included expected volatility of 84.81 percent, expected dividend yield of 1.00 percent, and an expected term of 4.0 years based on the vesting term of the market condition.
The risk-free rate is consistent with the assumption used to value stock options.
For all other grants that vest solely upon a service condition, the fair value of the awards is estimated based upon the fair value of the underlying shares on the date of the grant.
Restricted stock award and unit activity for 2011, 2010 and 2009 is summarized as follows:
## Table 1 ##
As of December 31, 2011, the pre-tax amount of non-vested stock options and restricted stock awards and units not yet recognized was $31 million, which will be recognized over a weighted-average period of 1.4 years.
No share-based compensation costs were capitalized during the years ended December 31, 2011, 2010 and 2009.
Regions issued approximately 867 thousand, 799 thousand, and 638 thousand of cash-settled restricted stock units during 2011, 2010, and 2009, respectively.
NOTE 17.
EMPLOYEE BENEFIT PLANS PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS Regions has a defined-benefit pension plan (the “pension plan”) covering only certain employees as the pension plan is closed to new entrants.
Benefits under the pension plan are based on years of service and the employee’s highest five years of compensation during the last ten years of employment.
Regions’ funding policy is to contribute annually at least the amount required by Internal Revenue Service minimum funding standards.
Contributions are intended to provide not only for benefits attributed to service to date, but also for those expected to be earned in the future.
The Company also sponsors a supplemental executive retirement program (the “SERP”), which is a non-qualified plan that provides certain senior executive officers defined benefits in relation to their compensation.
Regions also sponsors defined-benefit postretirement health care plans that cover certain retired employees.
For these certain employees retiring before normal retirement age, the Company currently pays a portion of the costs of certain health care benefits until the retired employee becomes eligible for Medicare.
Certain retirees, participating in plans of acquired entities, are offered a Medicare supplemental benefit.
The plan is contributory and contains other cost-sharing features such as deductibles and co-payments.
Retiree health care benefits, as well as similar benefits for active employees, are provided through a self-insured program in which Company and retiree costs are based on the amount of benefits paid.
The Company’s policy is to fund the Company’s share of the cost of health care benefits in amounts determined at the discretion of management.
Postretirement life insurance is also provided to a grandfathered group of employees and retirees.
Actuarially determined pension expense is charged to current operations using the projected unit credit method.
All defined-benefit plans are referred to as “the plans” throughout the remainder of this footnote.
Mortgage Income Mortgage income is generated through the origination and servicing of residential mortgage loans for long-term investors and sales of residential mortgage loans in the secondary market.
The decrease in mortgage income during 2018 compared to 2017 was due to lower production, tighter margins and a reduction in the valuation of mortgage servicing rights and related hedges.
The decreases were partially offset by increases in mortgage servicing income as a result of purchasing the rights to service a total of approximately $6.1 billion in residential mortgage loans during 2018.
See Note 7 "Servicing of Financial Assets" to the consolidated financial statements for more information.
Investment Services Fee Income Investment services fee income represents income earned through investment advisory services, the primary revenue streams of which include sales of annuity and brokerage products.
The increase in investment services fees during 2018 compared to 2017 was driven primarily by improved productivity as the result of hiring additional financial advisors.
Bank-owned Life Insurance Bank-owned life insurance decreased in 2018 compared to 2017 primarily due to reduced claims benefits throughout the year, as well as valuation declines in the fourth quarter of 2018 related to market volatility.
Securities Gains, net Net securities gains primarily result from the Company's asset/liability management process and the sale of certain securities held for employee benefit purposes.
See Note 4 "Securities" to the consolidated financial statements for more information.
Market Value Adjustments on Employee Benefit Assets Market value adjustments on employee benefit assets, both defined benefit and other, are the reflection of market value variations related to assets held for certain employee benefits.
The adjustments reported as employee benefit assets - other are offset in salaries and benefits expense.
Other Miscellaneous Income Other miscellaneous income includes net revenue from affordable housing, valuation adjustments to equity investments, fees from safe deposit boxes, check fees and other miscellaneous income.
Net revenue from affordable housing includes actual gains and losses resulting from the sale of affordable housing investments, cash distributions from the investments and any related impairment charges.
Other miscellaneous income increased in 2018 compared to 2017 primarily due to net gains associated with the sale of certain low income housing tax credit investments, increases in the value of equity investments, and decreases in net impairment charges related to certain operating lease assets.
NON-INTEREST EXPENSE Table 6—Non-Interest Expense from Continuing Operations
## Table 2 ##
unrealized gains and losses on cash flow hedges, unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions.
Treasury Stock – We account for repurchases of common stock under the cost method and present treasury stock as a reduction of stockholders’ equity.
We reissue common stock held in treasury only for limited purposes.
Noncontrolling Interest – In 2011, we made an investment in a company in which we acquired a controlling financial interest, but not 100 percent of the equity.
In 2013, we purchased additional shares of the company from the minority shareholders.
Further information related to the noncontrolling interests of that investment has not been provided as it is not significant to our consolidated financial statements.
Accounting Pronouncements – Effective January 1, 2013, we adopted the FASB’s Accounting Standard Updates (ASUs) requiring reporting of amounts reclassified out of accumulated other comprehensive income (OCI) and balance sheet offsetting between derivative assets and liabilities.
These ASUs only change financial statement disclosure requirements and therefore do not impact our financial position, results of operations or cash flows.
See Note 12 for disclosures relating to OCI.
See Note 13 for disclosures relating to balance sheet offsetting.
There are no other recently issued accounting pronouncements that we have not yet adopted that are expected to have a material effect on our financial position, results of operations or cash flows.3.
SHARE-BASED COMPENSATION Our share-based payments primarily consist of stock options, restricted stock, restricted stock units (RSUs), and an employee stock purchase plan.
Share-based compensation expense is as follows (in millions):
## Table 3 ##
Share-based compensation cost capitalized as part of inventory for the years ended December 31, 2013, 2012 and 2011 was $4.1 million, $6.1 million, and $8.8 million, respectively.
As of December 31, 2013 and 2012, approximately $2.4 million and $3.3 million of capitalized costs remained in finished goods inventory.
Stock Options We had two equity compensation plans in effect at December 31, 2013: the 2009 Stock Incentive Plan (2009 Plan) and the Stock Plan for Non-Employee Directors.
The 2009 Plan succeeded the 2006 Stock Incentive Plan (2006 Plan) and the TeamShare Stock Option Plan (TeamShare Plan).
No further awards have been granted under the 2006 Plan or under the TeamShare Plan since May 2009, and shares remaining available for grant under those plans have been merged into the 2009 Plan.
Vested and unvested stock options and unvested restricted stock and RSUs previously granted under the 2006 Plan, the TeamShare Plan and another prior plan, the 2001 Stock Incentive Plan, remained outstanding as of December 31, 2013.
We have reserved the maximum number of shares of common stock available for award under the terms of each of these plans.
We have registered 57.9 million shares of common stock under these plans.
The 2009 Plan provides for the grant of nonqualified stock options and incentive stock options, long-term performance awards in the form of performance shares or units, restricted stock, RSUs and stock appreciation rights.
The Compensation and Management Development Committee of the Board of Directors determines the grant date for annual grants under our equity compensation plans.
The date for annual grants under the 2009 Plan to our executive officers is expected to occur in the first quarter of each year following the earnings announcements for the previous quarter and full year.
The Stock Plan for Non-Employee Directors provides for awards of stock options, restricted stock and RSUs to non-employee directors.
It has been our practice to issue shares of common stock upon exercise of stock options from previously unissued shares, except in limited circumstances where they are issued from treasury stock.
The total number of awards which may be granted in a given year and/or over the life of the plan under each of our equity compensation plans is limited.
At December 31, 2013, an aggregate of 10.4 million shares were available for future grants and awards under these plans.
Stock options granted to date under our plans generally vest over four years and generally have a maximum contractual life of 10 years.
As established under our equity compensation plans, vesting may accelerate upon retirement after the first anniversary date of the award if certain criteria are met.
We recognize expense related to stock options on a straight-line basis over the requisite service period, less awards expected to be forfeited using estimated forfeiture rates.
Due to the accelerated retirement provisions, the requisite service period of our stock options range from one to four years.
Stock options are granted with an exercise price equal to the market price of our common stock on the date of grant, except in limited circumstances where local law may dictate otherwise.

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December 31,
2012	2011	2010
Shares outstanding (actual number)	221,474	221,474	221,474
Conversion rate per share	76.2197	74.4500	73.1904
Conversion price	$13.12	$13.43	$13.66
Conversion shares	16.9	16.5	16.2

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Numberof Shares	Weighted-Average GrantDate Fair Value
Non-vested at December 31, 2008	4,123,911	$27.67
Granted	3,100,415	2.87
Vested	-804,229	16.39
Forfeited	-455,503	16.47
Non-vested at December 31, 2009	5,964,594	$17.15
Granted	1,166,968	6.96
Vested	-936,412	34.00
Forfeited	-1,264,706	15.97
Non-vested at December 31, 2010	4,930,444	$12.13
Granted	2,705,834	6.66
Vested	-1,206,373	23.36
Forfeited	-149,545	12.93
Non-vested at December 31, 2011	6,280,360	$7.60

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Year Ended December 31	Change 2018 vs. 2017
2018	2017	2016	Amount	Percent
(Dollars in millions)
Salaries and employee benefits	$1,947	$1,874	$1,842	$73	3.9%
Net occupancy expense	335	339	342	-4	-1.2%
Furniture and equipment expense	325	326	312	-1	-0.3%
Outside services	187	172	154	15	8.7%
Professional, legal and regulatory expenses	119	93	92	26	28.0%
Marketing	92	93	101	-1	-1.1%
FDIC insurance assessments	85	108	99	-23	-21.3%
Branch consolidation, property and equipment charges	11	22	58	-11	-50.0%
Visa class B shares expense	10	19	15	-9	-47.4%
Provision (credit) for unfunded credit losses	-2	-16	17	14	-87.5%
Loss on early extinguishment of debt	—	—	14	—	NM
Other miscellaneous expenses	461	461	437	—	—%
$3,570	$3,491	$3,483	$79	2.3%

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For the Years Ended December 31,	2013	2012	2011
Stock options	$24.7	$32.4	$41.7
RSUs and other	23.8	22.6	18.8
Total expense, pre-tax	48.5	55.0	60.5
Tax benefit related to awards	-15.6	-16.6	-17.8
Total expense, net of tax	$32.9	$38.4	$42.7

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Question: What's the average of Salaries and employee benefits in 2018 and 2017?
Answer: 1910.5