an increase of $0.10 in the delivery area surcharge on both residential and commercial services to certain ZIP codes.
These rate changes are customary, and are consistent with previous years’ rate increases.
Additionally, we modified the fuel surcharge on domestic and U. S. -origin international air services by reducing by 2% the index used to determine the fuel surcharge.
The UPS Ground fuel surcharge continues to fluctuate based on the U. S.  Energy Department’s On-Highway Diesel Fuel Price.
Rate changes for shipments originating outside the U. S.  were made throughout the past year and varied by geographic market.
In January 2008, UPS Freight announced a general rate increase averaging 5.4 percent covering non-contractual shipments in the United States and Canada.
The increase goes into effect on February 4, 2008, and applies to minimum charge, LTL and TL rates.
Investing Activities Net cash used in investing activities was $2.199 billion, $2.340 billion, and $975 million in 2007, 2006, and 2005, respectively.
The decrease in cash used in 2007 compared with 2006 was primarily due to lower capital expenditures and increased net sales of marketable securities and short-term investments.
Net sales of marketable securities and short-term investments were $621 million, $482 million, and $2.752 billion in 2007, 2006, and 2005, respectively, and were primarily used to fund our pension and postretirement medical benefit plans, as well as complete business acquisitions.
In 2005, we spent $1.488 billion on business acquisitions, primarily Overnite Corp. , Lynx Express Ltd.  in the United Kingdom, Messenger Service Stolica S. A.  in Poland, and the express operations of Sinotrans Air Transportation Development Co.  Ltd.  in China (See Note 7 to the consolidated financial statements).
We had a net cash use of $39 million in 2007, compared with cash generation of $68 and $95 million in 2006 and 2005, respectively, due to originations, sales, and customer paydowns of finance receivables, primarily in our commercial lending, asset-based lending, and leasing portfolios.
In the second quarter of 2006, we terminated several energy derivatives and received $229 million in cash, which is reported in other investing activities in the statement of cash flows.
These derivatives were designated as hedges of forecasted cash outflows for purchases of fuel products.
As these derivatives maintained their effectiveness and qualified for hedge accounting, we recognized the gains associated with these hedges as a reduction of fuel expense over the original term of the hedges through 2007.
Capital expenditures represent a primary use of cash in investing activities, as follows (in millions):
## Table 0 ##
As described in the “Commitments” section below, we have commitments for the purchase of aircraft, vehicles, equipment and other fixed assets to provide for the replacement of existing capacity and anticipated future growth.
We fund our capital expenditures with our cash from operations.
Financing Activities Net cash provided by (used in) financing activities was $2.297, ($3.851), and ($4.175) billion in 2007, 2006, and 2005, respectively.
As of December 31, 2007, we increased our commercial paper borrowings to $7.366 billion, an increase of $6.575 billion over December 31, 2006.
This issuance of commercial paper was used to fund the withdrawal payment to the Central States Pension Fund upon ratification of our labor contract with the Teamsters, as previously discussed.
The commercial paper balance was reduced subsequent to December 31, 2007 as a result of an issuance of long-term debt (discussed further in the “Sources of Credit” section) and the receipt of an income tax refund.
UNITED PARCEL SERVICE, INC.  AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) UPS class B common stock on the first or the last day of each quarterly period.
Employees purchased 1.8, 1.9, and 2.0 million shares at average prices of $64.20, $66.64, and $64.54 per share during 2007, 2006, and 2005, respectively.
Compensation cost is measured for the fair value of employees’ purchase rights under our discounted employee stock purchase plan using the Black-Scholes option pricing model.
The weighted average assumptions used and the calculated weighted average fair value of employees’ purchase rights granted, are as follows:
## Table 1 ##
* Includes the 10% discount from the market price.
Expected volatilities are based on the historical price volatility on our publicly-traded class B shares.
The expected dividend yield is based on the recent historical dividend yields for our stock, taking into account changes in dividend policy.
The risk-free interest rate is based on the term structure of interest rates on U. S.  Treasury securities at the time of the option grant.
The expected life represents the three month option period applicable to the purchase rights.
NOTE 12.
SEGMENT AND GEOGRAPHIC INFORMATION We report our operations in three segments: U. S.  Domestic Package operations, International Package operations, and Supply Chain & Freight operations.
Package operations represent our most significant business and are broken down into regional operations around the world.
Regional operations managers are responsible for both domestic and export operations within their geographic area.
U. S.  Domestic Package Domestic Package operations include the time-definite delivery of letters, documents, and packages throughout the United States.
International Package International Package operations include delivery to more than 200 countries and territories worldwide, including shipments wholly outside the United States, as well as shipments with either origin or distribution outside the United States.
Our International Package reporting segment includes the operations of our Europe, Asia, and Americas operating segments.
Supply Chain & Freight Supply Chain & Freight includes our forwarding and logistics operations, UPS Freight, and other aggregated business units.
Our forwarding and logistics business provides services in more than 175 countries and territories worldwide, and includes supply chain design and management, freight distribution, customs brokerage, mail and consulting services.
UPS Freight offers a variety of LTL and TL services to customers in North America.
Other aggregated business units within this segment include Mail Boxes, Etc.
(the franchisor of Mail Boxes, Etc.
and The UPS Store) and UPS Capital.
UNITED PARCEL SERVICE, INC.  AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 83 Certain plans have been aggregated in the “All Other Multiemployer Pension Plans” line in the following table, as the contributions to each of these individual plans are not material.
## Table 2 ##
In 2012, we reached an agreement with the New England Teamsters and Trucking Industry Pension Fund ("NETTI Fund"), a multiemployer pension plan in which UPS is a participant, to restructure the pension liabilities for approximately 10,200 UPS employees represented by the Teamsters.
The agreement reflected a decision by the NETTI Fund's trustees to restructure the NETTI Fund through plan amendments to utilize a "two pool approach", which effectively subdivided the plan assets and liabilities between two groups of beneficiaries.
As part of this agreement, UPS agreed to withdraw from the original pool of the NETTI Fund, of which it had historically been a participant, and reenter the NETTI Fund's newly-established pool as a new employer.
Upon ratification of the agreement by the Teamsters in September 2012, we withdrew from the original pool of the NETTI Fund and incurred an undiscounted withdrawal liability of $2.162 billion to be paid in equal monthly installments over 50 years.
The undiscounted withdrawal liability was calculated by independent actuaries employed by the NETTI Fund, in accordance with the governing plan documents and the applicable requirements of the Employee Retirement Income Security Act of 1974.
In 2012, we recorded a charge to expense to establish an $896 million withdrawal liability on our consolidated balance sheet, which represents the present value of the $2.162 billion future payment obligation discounted at a 4.25% interest rate.
This discount rate represents the estimated credit-adjusted market rate of interest at which we could obtain financing of a similar maturity and seniority.
As this agreement is not a contribution to the plan, the amounts reflected in the previous table do not include this $896 million non-cash transaction.
The $896 million charge to expense recorded in 2012 is included in "compensation and benefits" expense in the statements of consolidated income, while the corresponding withdrawal liability is included in "other non-current liabilities" on the consolidated balance sheet.
We impute interest on the withdrawal liability using the 4.25% discount rate, while the monthly payments made to the NETTI Fund reduce the remaining balance of the withdrawal liability.
AMGEN INC.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) sales (excluding amortization of intangible assets),” “Research and development” and “Selling, general and administrative” expenses for the year ended December 31, 2007 are the reversal of previously accrued expenses for bonuses and stock-based compensation awards totaling $31 million, which were forfeited as a result of the employees’ termination.
We also recorded asset impairment charges of $59 million and $408 million during the years ended December 31, 2008 and 2007, respectively.
The charges for both periods represent the write-off of the total cost of the related assets as they were abandoned with no alternative future uses or residual value.
The charges for 2008 included impairments primarily for certain manufacturing-related assets.
The charges in 2007 were primarily incurred in connection with our decisions to make changes to certain manufacturing and, to a lesser degree, certain R&D capital projects and to close certain production operations.
In particular, these decisions in 2007 included certain revisions to and the subsequent indefinite postponement of our planned Ireland manufacturing operations, certain revisions to our planned manufacturing expansion in Puerto Rico and the closure of a clinical manufacturing facility in Thousand Oaks, California.
In addition, in connection with the rationalization of our worldwide network of manufacturing facilities in 2007, we decided to accelerate the closure of one of our ENBREL commercial bulk manufacturing operations.
The decision to accelerate the closure of this manufacturing operation was principally based on a thorough review of the supply plans for bulk ENBREL inventory across its worldwide manufacturing network, including consideration of expected increases in manufacturing yields, and the determination that the related assets no longer had any alternative future uses in our operations.
Because the related estimated future cash flows for this manufacturing operation were sufficient to recover the respective book values, we were required to accelerate depreciation of the related assets rather than immediately impairing their carrying values.
The amount included in “Cost of sales (excluding amortization of intangible assets)” in the table above, $147 million, represents the excess of the accelerated depreciation expense recognized during the year ended December 31, 2007 over the depreciation that would otherwise have been recorded, $6 million, if there were no plans to accelerate the closure of this manufacturing operation.
During the years ended December 31, 2008 and 2007, we also recorded cost recoveries of $1 million and $114 million, respectively, for certain restructuring charges, principally with respect to accelerated depreciation, in connection with our co-promotion agreement with Wyeth.
Such amounts are recorded as a reduction of the Wyeth profit share expense included in “Selling, general and administrative” expenses.
Also included in “Selling, general and administrative” expenses in 2008 are $12 million of loss accruals for leases principally related to certain facilities that will not be used in our operations and $9 million for implementation costs associated with certain restructuring initiatives.
In addition during the years ended December 31, 2008 and 2007, we accrued $49 million and $119 million, respectively, included in “Other charges,” primarily related to loss accruals for leases for certain facilities that will not be used in our operations.
For 2007, these charges primarily related to loss accruals for leases for certain R&D facilities.
In addition, in 2008, we recorded a $10 million loss on the disposal of certain less significant marketed products that is included in “Interest and other income, net.
” The following table summarizes the charges and spending relating to the restructuring plan (in millions):
## Table 3 ##
Introduction This introduction contains certain information about Con Edison and its subsidiaries, including CECONY.
This introduction is not a summary and should be read together with, and is qualified in its entirety by reference to, the more detailed information appearing elsewhere or incorporated by reference in this report.
Con Edison’s mission is to provide energy services to our customers safely, reliably, efficiently and in an environmentally sound manner; to provide a workplace that allows employees to realize their full potential; to provide a fair return to our investors; and to improve the quality of life in the communities we serve.
The company has ongoing programs designed to support its mission, including initiatives focused on safety, operational excellence, the customer experience and cost optimization.
Con Edison is a holding company that owns: ?
Consolidated Edison Company of New York, Inc.  (CECONY), which delivers electricity, natural gas and steam to customers in New York City and Westchester County; ?
Orange & Rockland Utilities, Inc.  (O&R), which together with its subsidiary, Rockland Electric Company, delivers electricity and natural gas to customers primarily located in southeastern New York State and northern New Jersey (O&R, together with CECONY referred to as the Utilities); ?
Con Edison Clean Energy Businesses, Inc. , which through its subsidiaries develops, owns and operates renewable and energy infrastructure projects and provides energy-related products and services to wholesale and retail customers (Con Edison Clean Energy Businesses, Inc. , together with its subsidiaries referred to as the Clean Energy Businesses); and ?
Con Edison Transmission, Inc. , which through its subsidiaries invests in electric and gas transmission projects (Con Edison Transmission, Inc. , together with its subsidiaries referred to as Con Edison Transmission).
Con Edison anticipates that the Utilities, which are subject to extensive regulation, will continue to provide substantially all of its earnings over the next few years.
The Utilities have approved rate plans that are generally designed to cover each company’s cost of service, including capital and other costs of each company’s energy delivery systems.
The Utilities recover from their full-service customers (who purchase energy from them), generally on a current basis, the cost the Utilities pay for energy and charge all of their customers the cost of delivery service.
See "Utility Regulation" in Item 1, "Risk Factors" in Item 1A and "Rate Plans" in Note B to the financial statements in Item 8.
Selected Financial Data Con Edison
## Table 4 ##
(a) Reflects a $2,382 million increase in net plant offset by a $970 million decrease in regulatory assets for unrecognized pension and other postretirement costs.
See Notes B, E and F to the financial statements in Item 8.
(b) Reflects a $3,007 million increase in net plant offset by a $1,002 million decrease in regulatory assets for unrecognized pension and other postretirement costs.
See Notes B, E and F to the financial statements in Item 8.
(c) Reflects a $2.384 million increase in net plant, offset by decreases in regulatory assets resulting from the enactment of the federal Tax Cuts and Jobs Act of 2017, as enacted on December 22, 2017 (TCJA) of $2,418 million (including the netting of $1,168 million against the
a material effect on its consolidated financial statements.
See Note 12 for details regarding a tax matter.
NOTE 14 VARIABLE INTEREST ENTITIES In connection with the 2006 sale of approximately 5.6 million acres of forestlands, International Paper received installment notes (the Timber Notes) totaling approximately $4.8 billion.
The Timber Notes were used as collateral for borrowings from third party lenders, which effectively monetized the Timber Notes through the creation of newly formed special purposes entities (the Entities).
The monetization structure preserved the tax deferral that resulted from the 2006 forestlands sales.
As of December 31, 2018, this deferred tax liability was $884 million.
During 2015, International Paper initiated a series of actions in order to extend the 2006 monetization structure and maintain the long-term nature of the deferred tax liability.
The Entities, with assets and liabilities primarily consisting of the Timber Notes and third-party bank loans (the Extension Loans), were restructured which resulted in the formation of whollyowned, bankruptcy-remote special purpose entities (the 2015 Financing Entities).
The Timber Notes are shown in Financial assets of special purpose entities on the accompanying consolidated balance sheet and mature in August 2021 unless extended for an additional five years.
These notes, which do not require principal payments prior to their maturity, are supported by approximately $4.8 billion of irrevocable letters of credit.
The Extension Loans are shown in Nonrecourse financial liabilities of special purpose entities on the accompanying consolidated balance sheet and mature in the fourth quarter of 2020.
These bank loans, totaling approximately $4.2 billion, are nonrecourse to the Company, and are secured by approximately $4.8 billion of Timber Notes, the irrevocable letters of credit supporting the Timber Notes and approximately $150 million of International Paper debt obligations.
The $150 million of International Paper debt obligations are eliminated in the consolidation of the 2015 Financing Entities and are not reflected in the Company’s consolidated balance sheet.
Provisions of loan agreements related to approximately $1.1 billion of the Extension Loans require the bank issuing letters of credit supporting the Timber Notes pledged as collateral to maintain a credit rating at or above a specified threshold.
In the event the credit rating of the letter of credit bank is downgraded below the specified threshold, the letters of credit must be replaced within 60 days with letters of credit from a qualifying financial institution.
As of December 31, 2018 and 2017, the fair value of the Timber Notes was $4.7 billion and $4.8 billion, respectively, and the fair value of the Extension Loans was $4.2 billion and $4.3 billion for the years ended 2018 and 2017.
The Timber Notes and Extension Loans are classified as Level 2 within the fair value hierarchy, which is further defined in Note 16.
Activity between the Company and the 2015 Financing Entities was as follows:
## Table 5 ##
(a) The revenue and expense are included in Interest expense, net in the accompanying consolidated statement of operations.
(b) The cash receipts are interest received on the Financial assets of special purpose entities.
(c) The cash payments represent interest paid on Nonrecourse financial liabilities of special purpose entities.
In connection with the acquisition of Temple-Inland in February 2012, two special purpose entities became wholly-owned subsidiaries of International Paper.
The use of the two wholly-owned special purpose entities discussed below preserved the tax deferral that resulted from the 2007 Temple-Inland timberlands sales.
As of December 31, 2018, this deferred tax liability was $538 million, which will be settled with the maturity of the notes in 2027.
In October 2007, Temple-Inland sold 1.55 million acres of timberland for $2.4 billion.
The total consideration consisted almost entirely of notes due in 2027 issued by the buyer of the timberland, which Temple-Inland contributed to two wholly-owned, bankruptcy-remote special purpose entities.
The notes are shown in Financial assets of special purpose entities in the accompanying consolidated balance sheet and are supported by $2.4 billion of irrevocable letters of credit issued by three banks, which are required to maintain minimum credit ratings on their long-term debt.
As of December 31, 2018 and 2017, the fair value of the notes was $2.2 billion and $2.3 billion, respectively.
These notes are classified as Level 2 within the fair value hierarchy, which is further defined in Note 16.
In December 2007, Temple-Inland's two wholly-owned special purpose entities borrowed $2.1 billion which is shown in Nonrecourse financial liabilities of special purpose entities.
The loans are repayable in 2027 and are secured by the $2.4 billion of notes and the irrevocable letters of credit securing the notes, and are nonrecourse to us.
The loan agreements provide that if a credit rating of any of the banks issuing the letters of credit is downgraded below the specified threshold, the

['

2007	2006	2005
Buildings and facilities	$853	$720	$495
Aircraft and parts	1,137	1,150	874
Vehicles	492	831	456
Information technology	338	384	362
$2,820	$3,085	$2,187

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2007	2006	2005
Expected dividend yield	2.13%	1.79%	1.62%
Risk-free interest rate	4.60%	4.59%	2.84%
Expected life in years	0.25	0.25	0.25
Expected volatility	16.26%	15.92%	15.46%
Weighted average fair value of purchase rights*	$9.80	$10.30	$9.46

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EIN / PensionPlan	PensionProtection ActZone Status	FIP/RP StatusPending/	(in millions)UPS Contributions and Accruals	Surcharge
Pension Fund	Number	2013	2012	Implemented	2013	2012	2011	Imposed
Alaska Teamster-Employer Pension Plan	92-6003463-024	Red	Red	Yes/Implemented	$5	$4	$4	No
Automotive Industries Pension Plan	94-1133245-001	Red	Red	Yes/Implemented	4	4	4	No
Central Pennsylvania Teamsters Defined Benefit Plan	23-6262789-001	Green	Yellow	Yes/Implemented	30	29	27	No
Employer-Teamsters Local Nos. 175 & 505 Pension Trust Fund	55-6021850-001	Green	Green	No	9	9	8	No
Hagerstown Motor Carriers and Teamsters Pension Fund	52-6045424-001	Red	Red	Yes/Implemented	5	5	5	No
I.A.M. National Pension Fund / National Pension Plan	51-6031295-002	Green	Green	No	27	24	25	No
International Brotherhood of Teamsters Union Local No. 710 Pension Fund	36-2377656-001	Green	Green	No	88	75	74	No
Local 705, International Brotherhood of Teamsters Pension Plan	36-6492502-001	Red	Red	Yes/Implemented	68	46	58	No
Local 804 I.B.T. & Local 447 I.A.M.—UPS Multiemployer Retirement Plan	51-6117726-001	Red	Red	Yes/Implemented	88	87	84	No
Milwaukee Drivers Pension Trust Fund	39-6045229-001	Green	Green	No	29	26	26	No
New England Teamsters & Trucking Industry Pension Fund	04-6372430-001	Red	Red	Yes/Implemented	102	124	124	No
New York State Teamsters Conference Pension and Retirement Fund	16-6063585-074	Red	Red	Yes/Implemented	72	65	57	No
Teamster Pension Fund of Philadelphia and Vicinity	23-1511735-001	Yellow	Yellow	Yes/Implemented	46	44	41	No
Teamsters Joint Council No. 83 of Virginia Pension Fund	54-6097996-001	Yellow	Yellow	Yes/Implemented	49	44	41	No
Teamsters Local 639—Employers Pension Trust	53-0237142-001	Green	Green	No	41	36	33	No
Teamsters Negotiated Pension Plan	43-6196083-001	Yellow	Red	Yes/Implemented	26	24	22	No
Truck Drivers and Helpers Local Union No. 355 Retirement Pension Plan	52-6043608-001	Yellow	Yellow	Yes/Implemented	14	14	12	No
United Parcel Service, Inc.—Local 177, I.B.T. Multiemployer Retirement Plan	13-1426500-419	Red	Red	Yes/Implemented	68	62	57	No
Western Conference of Teamsters Pension Plan	91-6145047-001	Green	Green	No	553	520	476	No
Western Pennsylvania Teamsters and Employers Pension Fund	25-6029946-001	Red	Red	Yes/Implemented	23	24	21	No
All Other Multiemployer Pension Plans	49	59	44
Total Contributions	$1,396	$1,325	$1,243

', '

Separation costs	Other	Total
Restructuring reserves as of January 1, 2007	$—	$—	$—
Expense	209	119	328
Payments	-112	-17	-129
Restructuring reserves as of December 31, 2007	97	102	199
Expense	10	76	86
Payments	-103	-16	-119
Restructuring reserves as of December 31, 2008	$4	$162	$166

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For the Year Ended December 31,
(Millions of Dollars, except per share amounts)	2014	2015	2016	2017	2018
Operating revenues	$12,919	$12,554	$12,075	$12,033	12,337
Energy costs	4,513	3,716	3,088	2,625	2,948
Operating income (h)	2,591	2,879	2,780	2,774	2,664
Net income	1,092	1,193	1,245	1,525(g)	1,382(g)
Total assets (e)(f)	44,071	45,642(a)	48,255(b)	48,111(c)	53,920(d)
Long-term debt (e)	11,546	12,006	14,735	14,731	17,495
Total equity	12,585	13,061	14,306	15,425	16,839
Net Income per common share – basic	$3.73	$4.07	$4.15	$4.97	$4.43
Net Income per common share – diluted	$3.71	$4.05	$4.12	$4.94	$4.42
Dividends declared per common share	$2.52	$2.60	$2.68	$2.76	$2.86
Book value per share	$42.97	$44.50	$46.91	$49.72	$52.46
Average common shares outstanding(millions)	293	293	300	307	312

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In millions	2018	2017	2016
Revenue (a)	$95	$95	$95
Expense (a)	128	128	128
Cash receipts (b)	95	95	77
Cash payments (c)	128	128	98

']

Question: What is the sum of Expense of Separation costs in Restructuring reserves as of January 1, 2007 and Revenue (a) in 2016? (in million)
Answer: 304.0