EDWARDS LIFESCIENCES CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 12.
EMPLOYEE BENEFIT PLANS (Continued) Equity and debt securities are valued at fair value based on quoted market prices reported on the active markets on which the individual securities are traded.
The insurance contracts are valued at the cash surrender value of the contracts, which is deemed to approximate its fair value.
The following benefit payments, which reflect expected future service, as appropriate, at December 31, 2016, are expected to be paid (in millions):
## Table 0 ##
As of December 31, 2016, expected employer contributions for 2017 are $6.1 million.
Defined Contribution Plans The Company’s employees in the United States and Puerto Rico are eligible to participate in a qualified defined contribution plan.
In the United States, participants may contribute up to 25% of their eligible compensation (subject to tax code limitation) to the plan.
Edwards Lifesciences matches the first 3% of the participant’s annual eligible compensation contributed to the plan on a dollar-for-dollar basis.
Edwards Lifesciences matches the next 2% of the participant’s annual eligible compensation to the plan on a 50% basis.
In Puerto Rico, participants may contribute up to 25% of their annual compensation (subject to tax code limitation) to the plan.
Edwards Lifesciences matches the first 4% of participant’s annual eligible compensation contributed to the plan on a 50% basis.
The Company also provides a 2% profit sharing contribution calculated on eligible earnings for each employee.
Matching contributions relating to Edwards Lifesciences employees were $17.3 million, $15.3 million, and $12.8 million in 2016, 2015, and 2014, respectively.
The Company also has nonqualified deferred compensation plans for a select group of employees.
The plans provide eligible participants the opportunity to defer eligible compensation to future dates specified by the participant with a return based on investment alternatives selected by the participant.
The amount accrued under these nonqualified plans was $46.7 million and $35.5 million at December 31, 2016 and 2015, respectively.13.
COMMON STOCK Treasury Stock In July 2014, the Board of Directors approved a stock repurchase program authorizing the Company to purchase up to $750.0 million of the Company’s common stock.
In November 2016, the Board of Directors approved a new stock repurchase program providing for an additional $1.0 billion of repurchases of our common stock.
The repurchase programs do not have an expiration date.
Stock repurchased under these programs may be used to offset obligations under the Company’s employee stock-based benefit programs and stock-based business acquisitions, and will reduce the total shares outstanding.
During 2016, 2015, and 2014, the Company repurchased 7.3 million, 2.6 million, and 4.4 million shares, respectively, at an aggregate cost of $662.3 million, $280.1 million, and $300.9 million, respectively, including
MetLife, Inc.  Notes to the Consolidated Financial Statements — (Continued) Residential mortgage loans held-for-sale accounted for under the fair value option are initially measured at estimated fair value.
Interest income on residential mortgage loans held-for-sale is recorded based on the stated rate of the loan and is recorded in net investment income.
Gains and losses from initial measurement, subsequent changes in estimated fair value and gains or losses on sales are recognized in other revenues, and such changes in estimated fair value were due to the following:
## Table 1 ##
Non-Recurring Fair Value Measurements Certain assets are measured at estimated fair value on a non-recurring basis and are not included in the tables above.
The amounts below relate to certain investments measured at estimated fair value during the period and still held as of the reporting dates.
## Table 2 ##
(1) Mortgage Loans — The impaired mortgage loans presented above were written down to their estimated fair values at the date the impairments were recognized.
Estimated fair values for impaired mortgage loans are based on observable market prices or, if the loans are in foreclosure or are otherwise determined to be collateral dependent, on the estimated fair value of the underlying collateral, or the present value of the expected future cash flows.
Impairments to estimated fair value represent non-recurring fair value measurements that have been categorized as Level 3 due to the lack of price transparency inherent in the limited markets for such mortgage loans.
(2) Other Limited Partnership Interests — The impaired investments presented above were accounted for using the cost basis.
Impairments on these cost basis investments were recognized at estimated fair value determined from information provided in the financial statements of the underlying entities in the period in which the impairment was incurred.
These impairments to estimated fair value represent nonrecurring fair value measurements that have been classified as Level 3 due to the limited activity and price transparency inherent in the market for such investments.
This category includes several private equity and debt funds that typically invest primarily in a diversified pool of investments across certain investment strategies including domestic and international leveraged buyout funds; power, energy, timber and infrastructure development funds; venture capital funds; below investment grade debt and mezzanine debt funds.
The estimated fair values of these investments have been determined using the NAV of the Company’s ownership interest in the partners’ capital.
Distributions from these investments will be generated from investment gains, from operating income from the underlying investments of the funds and from liquidation of the underlying assets of the funds.
It is estimated that the underlying assets of the funds will be liquidated over the next 2 to 10 years.
Unfunded commitments for these investments were $354 million as of December 31, 2009.
(3) Real Estate Joint Ventures — The impaired investments presented above were accounted for using the cost basis.
Impairments on these cost basis investments were recognized at estimated fair value determined from information provided in the financial statements of the underlying entities in the period in which the impairment was incurred.
These impairments to estimated fair value represent non-recurring fair value measurements that have been classified as Level 3 due to the limited activity and price transparency inherent in the market for such investments.
This category includes several real estate funds that typically invest primarily in commercial real estate.
The estimated fair values of these investments have been determined using the NAV of the Company’s ownership interest in the partners’ capital.
Distributions from these investments will be generated from investment gains, from operating income from the underlying investments of the funds and from liquidation of the underlying assets of the funds.
It is estimated that the underlying assets of the funds will be liquidated over the next 2 to 10 years.
Unfunded commitments for these investments were $86 million as of December 31, 2009.
MetLife, Inc.  Notes to the Consolidated Financial Statements — (Continued) Commitments Leases In accordance with industry practice, certain of the Company’s income from lease agreements with retail tenants are contingent upon the level of the tenants’ revenues.
Additionally, the Company, as lessee, has entered into various lease and sublease agreements for office space, information technology and other equipment.
Future minimum rental and sublease income, and minimum gross rental payments relating to these lease agreements are as follows:
## Table 3 ##
The Company previously moved certain of its operations in New York from Long Island City, Queens to Manhattan.
Market conditions, which precluded the Company’s immediate and complete sublet of all unused space following this movement of operations, resulted in a lease impairment charge of $52 million during 2009, which is included in other expenses within Corporate & Other.
The impairment charge was determined based upon the present value of the gross rental payments less sublease income discounted at a risk-adjusted rate over the remaining lease terms which range from 15-20 years.
The Company has made assumptions with respect to the timing and amount of future sublease income in the determination of this impairment charge.
See Note 19 for discussion of $28 million of such charges related to restructuring.
Additional impairment charges could be incurred should market conditions change.
Commitments to Fund Partnership Investments The Company makes commitments to fund partnership investments in the normal course of business.
The amounts of these unfunded commitments were $4.0 billion and $3.8 billion at December 31, 2011 and 2010, respectively.
The Company anticipates that these amounts will be invested in partnerships over the next five years.
Mortgage Loan Commitments The Company has issued interest rate lock commitments on certain residential mortgage loan applications totaling $5.6 billion and $2.5 billion at December 31, 2011 and 2010, respectively.
The Company intends to sell the majority of these originated residential mortgage loans.
Interest rate lock commitments to fund mortgage loans that will be held-for-sale are considered derivatives and their estimated fair value and notional amounts are included within interest rate forwards.
See Note 4.
The Company also commits to lend funds under certain other mortgage loan commitments that will be held-for-investment.
The amounts of these mortgage loan commitments were $4.1 billion and $3.8 billion at December 31, 2011 and 2010, respectively.
Commitments to Fund Bank Credit Facilities, Bridge Loans and Private Corporate Bond Investments The Company commits to lend funds under bank credit facilities, bridge loans and private corporate bond investments.
The amounts of these unfunded commitments were $1.4 billion and $2.4 billion at December 31, 2011 and 2010, respectively.
Guarantees In the normal course of its business, the Company has provided certain indemnities, guarantees and commitments to third parties pursuant to which it may be required to make payments now or in the future.
In the context of acquisition, disposition, investment and other transactions, the Company has provided indemnities and guarantees, including those related to tax, environmental and other specific liabilities and other indemnities and guarantees that are triggered by, among other things, breaches of representations, warranties or covenants provided by the Company.
In addition, in the normal course of business, the Company provides indemnifications to counterparties in contracts with triggers similar to the foregoing, as well as for certain other liabilities, such as third-party lawsuits.
These obligations are often subject to time limitations that vary in duration, including contractual limitations and those that arise by operation of law, such as applicable statutes of limitation.
In some cases, the maximum potential obligation under the indemnities and guarantees is subject to a contractual limitation ranging from less than $1 million to $800 million, with a cumulative maximum of $1.5 billion, while in other cases such limitations are not specified or applicable.
Since certain of these obligations are not subject to limitations, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these guarantees in the future.
Management believes that it is unlikely the Company will have to make any material payments under these indemnities, guarantees, or commitments.
In addition, the Company indemnifies its directors and officers as provided in its charters and by-laws.
Also, the Company indemnifies its agents for liabilities incurred as a result of their representation of the Company’s interests.
Since these indemnities are generally not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these indemnities in the future.
The Company has also guaranteed minimum investment returns on certain international retirement funds in accordance with local laws.
Since these guarantees are not subject to limitation with respect to duration or amount, the Company does not believe that it is possible to determine the maximum potential amount that could become due under these guarantees in the future.
During the year ended December 31, 2011, the Company did not record any additional liabilities for indemnities, guarantees and commitments.
The Company’s recorded liabilities were $5 million at both December 31, 2011 and 2010, for indemnities, guarantees and commitments.
MetLife, Inc.  Notes to the Consolidated Financial Statements — (continued) 8.
Investments (continued) At December?31, 2017, $117?million of the total $1.9?billion of gross unrealized losses were from 31 fixed maturity securities with an unrealized loss position of 20% or more of amortized cost for six months or greater.
Gross unrealized losses on equity securities decreased $33 million during the year ended December?31, 2017 to $20?million.
Investment Grade Fixed Maturity Securities Of the $117?million of gross unrealized losses on fixed maturity securities with an unrealized loss of 20% or more of amortized cost for six months or greater, $73?million, or 62%, were related to gross unrealized losses on 12 investment grade fixed maturity securities.
Unrealized losses on investment grade fixed maturity securities are principally related to widening credit spreads since purchase and, with respect to fixed-rate fixed maturity securities, rising interest rates since purchase.
Below Investment Grade Fixed Maturity Securities Of the $117?million of gross unrealized losses on fixed maturity securities with an unrealized loss of 20% or more of amortized cost for six months or greater, $44?million, or 38%, were related to gross unrealized losses on 19 below investment grade fixed maturity securities.
Unrealized losses on below investment grade fixed maturity securities are principally related to U. S.  and foreign corporate securities (primarily industrial and utility securities) and non-agency RMBS (primarily alternative residential mortgage loans) and are the result of significantly wider credit spreads resulting from higher risk premiums since purchase, largely due to economic and market uncertainty including concerns over lower oil prices in the energy sector and valuations of residential real estate supporting non-agency RMBS.
Management evaluates U. S.  and foreign corporate securities based on factors such as expected cash flows and the financial condition and near-term and long-term prospects of the issuers and evaluates non-agency RMBS based on actual and projected cash flows after considering the quality of underlying collateral, expected prepayment speeds, current and forecasted loss severity, consideration of the payment terms of the underlying assets backing a particular security and the payment priority within the tranche structure of the security.
Table of Contents MetLife, Inc.  Notes to the Consolidated Financial Statements — (continued) 8.
Investments (continued) 278 Mortgage Loans Mortgage Loans by Portfolio Segment Mortgage loans are summarized as follows at:

['

2017	$4.5
2018	4.0
2019	4.0
2020	4.6
2021	4.5
2021-2025	44.6

', '

For the Years Ended December 31,
2009	2008
(In millions)
Instrument-specific credit risk based on changes in credit spreads for non-agency loans and adjustments in individual loan quality	$-2	$—
Other changes in estimated fair value	600	55
Total gains (losses) recognized in other revenues	$598	$55

', '

For the Years Ended December 31,
2009	2008
Estimated	Estimated
Carrying	Fair	Carrying	Fair
Value Prior to	Value After	Gains	Value Prior to	Value After	Gains
Impairment	Impairment	(Losses)	Impairment	Impairment	(Losses)
(In millions)
Mortgage loans -1:
Held-for-investment	$294	$202	$-92	$257	$188	$-69
Held-for-sale	9	8	-1	42	32	-10
Mortgage loans, net	$303	$210	$-93	$299	$220	$-79
Other limited partnership interests -2	$915	$561	$-354	$242	$137	$-105
Real estate joint ventures -3	$175	$93	$-82	$—	$—	$—

', '

Rental Income	Sublease Income	Gross Rental Payments
(In millions)
2012	$425	$17	$337
2013	$386	$20	$279
2014	$332	$12	$202
2015	$283	$12	$172
2016	$223	$12	$145
Thereafter	$921	$74	$917

']

Question: during 2016 what was the average price paid for the shares repurchased by the company?
Answer: 107.73077