Entergy Mississippi, Inc.  Management's Financial Discussion and Analysis 321 The net wholesale revenue variance is primarily due to lower profit on joint account sales and reduced capacity revenue from the Municipal Energy Agency of Mississippi.
Gross operating revenues, fuel and purchased power expenses, and other regulatory charges Gross operating revenues increased primarily due to an increase of $152.5 million in fuel cost recovery revenues due to higher fuel rates, partially offset by a decrease of $43 million in gross wholesale revenues due to a decrease in net generation and purchases in excess of decreased net area demand resulting in less energy available for resale sales coupled with a decrease in system agreement remedy receipts.
Fuel and purchased power expenses increased primarily due to increases in the average market prices of natural gas and purchased power, partially offset by decreased demand and decreased recovery from customers of deferred fuel costs.
Other regulatory charges increased primarily due to increased recovery through the Grand Gulf rider of Grand Gulf capacity costs due to higher rates and increased recovery of costs associated with the power management recovery rider.
There is no material effect on net income due to quarterly adjustments to the power management recovery rider.2007 Compared to 2006 Net revenue consists of operating revenues net of: 1) fuel, fuel-related expenses, and gas purchased for resale, 2) purchased power expenses, and 3) other regulatory charges (credits).
Following is an analysis of the change in net revenue comparing 2007 to 2006.
## Table 0 ##
The base revenue variance is primarily due to a formula rate plan increase effective July 2007.
The formula rate plan filing is discussed further in "State and Local Rate Regulation" below.
The volume/weather variance is primarily due to increased electricity usage primarily in the residential and commercial sectors, including the effect of more favorable weather on billed electric sales in 2007 compared to 2006.
Billed electricity usage increased 214 GWh.
The increase in usage was partially offset by decreased usage in the industrial sector.
The transmission revenue variance is due to higher rates and the addition of new transmission customers in late 2006.
The transmission equalization variance is primarily due to a revision made in 2006 of transmission equalization receipts among Entergy companies.
The reserve equalization variance is primarily due to a revision in 2006 of reserve equalization payments among Entergy companies due to a FERC ruling regarding the inclusion of interruptible loads in reserve
Revenues and Expenses Premiums, Fees and Other Revenues Premiums, fees and other revenues increased by $2,185 million, or 7%, to $34,739 million for the year ended December 31, 2007 from $32,554 million for the comparable 2006 period.
The following table provides the change from the prior year in premiums, fees and other revenues by segment:
## Table 1 ##
The growth in the Institutional segment was primarily due to increases in the non-medical health & other and group life businesses.
The non-medical health & other business increased primarily due to growth in the dental, disability, accidental death & dismemberment (“AD&D”) and individual disability insurance (“IDI”) businesses.
Partially offsetting these increases is a decrease in the long-term care (“LTC”) business, net of a decrease resulting from a shift to deposit liability-type contracts in the current year, partially offset by growth in the business.
The group life business increased primarily due to business growth in term life and increases in corporate-owned life insurance and life insurance sold to postretirement benefit plans.
These increases in the non-medical health & other and group life businesses were partially offset by a decrease in the retirement & savings business.
The decrease in retirement & savings was primarily due to a decrease in structured settlement and pension closeout premiums, partially offset by an increase in other products.
The growth in the Reinsurance segment was primarily attributable to premiums from new facultative and automatic treaties and renewal premiums on existing blocks of business in all RGA’s operating segments.
In addition, other revenues increased due to an increase in surrender charges on asset-intensive business reinsured and an increase in fees associated with financial reinsurance.
The growth in the International segment was primarily due to the following factors: ?
An increase in Mexico’s premiums, fees and other revenues due to higher fees and growth in its institutional and universal life businesses, a decrease in experience refunds during the first quarter of 2007 on Mexico’s institutional business, as well as the adverse impact in the prior year of an adjustment for experience refunds on Mexico’s institutional business, offset by lower fees resulting from management’s update of assumptions used to determine estimated gross profits and various one-time revenue items which benefited both the current and prior years.  ?
Premiums, fees and other revenues increased in Hong Kong primarily due to the acquisition of the remaining 50% interest in MetLife Fubon and the resulting consolidation of the operation as well as business growth.  ?
Chile’s premiums, fees and other revenues increased primarily due to higher annuity sales, higher institutional premiums from its traditional and bank distribution channels, and the decrease in the prior year resulting from management’s decision not to match aggressive pricing in the marketplace.  ?
South Korea’s premiums, fees and other revenues increased primarily due to higher fees from growth in its guaranteed annuity and variable universal life businesses.  ?
Brazil’s premiums, fees and other revenues increased due to changes in foreign currency exchange rates and business growth.  ?
Premiums, fees and other revenues increased in Japan due to an increase in reinsurance assumed.  ?
Australia’s premiums, fees and other revenues increased primarily due to growth in the institutional and reinsurance business inforce, an increase in retention levels and changes in foreign currency exchange rates.  ?
Argentina’s premiums, fees and other revenues increased due to higher pension contributions resulting from higher participant salaries and a higher salary threshold subject to fees and growth in bancassurance, offset by the reduction of cost of insurance fees as a result of the new pension system reform regulation.  ?
Taiwan’s and India’s premiums, fees and other revenues increased primarily due to business growth.
These increases in premiums, fees and other revenues were partially offset by a decrease in the United Kingdom due to an unearned premium calculation refinement, partially offset by changes in foreign currency exchange rates.
The growth in the Individual segment was primarily due to higher fee income from variable life and annuity and investment-type products and growth in premiums from other life products, partially offset by a decrease in immediate annuity premiums and a decline in premiums associated with the Company’s closed block business, in line with expectations.
The growth in the Auto & Home segment was primarily due to an increase in premiums related to increased exposures, an increase in various voluntary and involuntary programs, and a change in estimate on auto rate refunds due to a regulatory examination, as well as an increase in other revenues primarily due to slower than anticipated claim payments in 2006.
These increases were partially offset by a reduction in average earned premium per policy, and an increase in catastrophe reinsurance costs.
The increase in Corporate & Other was primarily related to the resolution of an indemnification claim associated with the 2000 acquisition of General American Life Insurance Company (“GALIC”), partially offset by an adjustment of surrender values on corporateowned life insurance policies.
Net Investment Income Net investment income increased by $1,924 million, or 11%, to $19,006 million for the year ended December 31, 2007 from $17,082 million for the comparable 2006 period.
Management attributes $1,336 million of this increase to growth in the average asset base and $588 million to an increase in yields.
The increase in net investment income from growth in the average asset base was primarily within fixed maturity securities, mortgage loans, real estate joint ventures and other limited partnership interests.
The increase in net
## Table 2 ##
## Table 3 ##
Years Ended December 31, @t@ (1) On July 1, 2005, the Company acquired Travelers.
The 2005 selected financial data includes total revenues and total expenses of $966 million and $577 million, respectively, from the date of the acquisition.
See “Management’s Discussion and Analysis of Financial Condition and Results of Operations — Acquisitions and Dispositions.
” (2) Discontinued Operations:

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Amount (In Millions)
2006 net revenue	$466.1
Base revenue	7.9
Volume/weather	4.5
Transmission revenue	4.1
Transmission equalization	4.0
Reserve equalization	3.8
Attala costs	-10.2
Other	6.7
2007 net revenue	$486.9

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% of Total
$ Change (In millions)	$ Change
Institutional	$594	27%
Reinsurance	573	26
International	560	26
Individual	364	17
Auto & Home	65	3
Corporate & Other	29	1
Total change	$2,185	100%

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December 31,
2007	2006	2005	2004	2003
(In millions)
Balance Sheet Data -1
Assets:
General account assets	$398,403	$383,350	$353,776	$270,039	$251,085
Separate account assets	160,159	144,365	127,869	86,769	75,756
Total assets -2	$558,562	$527,715	$481,645	$356,808	$326,841
Liabilities:
Life and health policyholder liabilities -4	$278,246	$267,146	$257,258	$193,612	$177,947
Property and casualty policyholder liabilities -4	3,324	3,453	3,490	3,180	2,943
Short-term debt	667	1,449	1,414	1,445	3,642
Long-term debt	9,628	9,129	9,489	7,412	5,703
Collateral financing arrangements	5,732	850	—	—	—
Junior subordinated debt securities	4,474	3,780	2,533	—	—
Payables for collateral under securities loaned and other transactions	44,136	45,846	34,515	28,678	27,083
Other	17,017	17,899	15,976	12,888	12,618
Separate account liabilities	160,159	144,365	127,869	86,769	75,756
Total liabilities -2	523,383	493,917	452,544	333,984	305,692
Stockholders’ Equity
Preferred stock, at par value	1	1	1	—	—
Common stock, at par value	8	8	8	8	8
Additional paid-in capital	17,098	17,454	17,274	15,037	14,991
Retained earnings -5	19,884	16,574	10,865	6,608	4,193
Treasury stock, at cost	-2,890	-1,357	-959	-1,785	-835
Accumulated other comprehensive income -6	1,078	1,118	1,912	2,956	2,792
Total stockholders’ equity	35,179	33,798	29,101	22,824	21,149
Total liabilities and stockholders’ equity	$558,562	$527,715	$481,645	$356,808	$326,841

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Years Ended December 31,
2007	2006	2005	2004	2003
Other Data -1
Net income available to common shareholders	$4,180	$6,159	$4,651	$2,758	$2,196
Return on common equity -7	13.0%	21.9%	18.5%	12.5%	11.4%
Return on common equity, excluding accumulated other comprehensive income	13.2%	22.6%	20.4%	14.4%	13.0%
EPS Data -1
Income from Continuing Operations Available to Common Shareholders Per Common Share
Basic	$5.57	$3.85	$4.02	$3.43	$2.36
Diluted	$5.44	$3.81	$3.98	$3.41	$2.34
Income (loss) from Discontinued Operations Per Common Share
Basic	$0.05	$4.24	$2.19	$0.35	$0.65
Diluted	$0.04	$4.18	$2.18	$0.35	$0.64
Cumulative Effect of a Change in Accounting Per Common Share -3
Basic	$—	$—	$—	$-0.11	$-0.04
Diluted	$—	$—	$—	$-0.11	$-0.04
Net Income Available to Common Shareholders Per Common Share
Basic	$5.62	$8.09	$6.21	$3.67	$2.97
Diluted	$5.48	$7.99	$6.16	$3.65	$2.94
Dividends Declared Per Common Share	$0.74	$0.59	$0.52	$0.46	$0.23

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Question: What will Short-term debt be like in 2007 if it develops with the same increasing rate as current? (in million)
Answer: 307.03175