2.
Revenue We recognize revenue when control of the good or service has been transferred to the customer, generally either at the time of sale or upon delivery to a customer.
Our contracts have a fixed contract price and revenue is measured as the amount of consideration we expect to receive in exchange for transferring goods or providing services.
We collect sales taxes and other taxes from customers on behalf of governmental authorities at the time of sale.
These taxes are accounted for on a net basis and are not included in net sales and operating revenues or cost of sales.
We generally expense sales commissions when incurred because the amortization period would have been less than one year.
These costs are recorded within SG&A.
We do not have any significant payment terms as payment is received at or shortly after the point of sale.
On March 1, 2018, we adopted FASB ASU 2014-09 related to revenue recognition using the modified retrospective transition method for all contracts.
In connection with the adoption of this standard, we recorded a net after-tax cumulative-effect adjustment to increase beginning retained earnings by $12.9 million to recognize profit-sharing revenues on ESP contracts sold on or before February 28, 2018, with corresponding adjustments to other assets and deferred income taxes.
The adoption also resulted in $8.4 million recorded in other sales and revenues on our consolidated statement of earnings for fiscal 2019, relating to additional profit-sharing revenues to which we expect to be entitled.
Lastly, the adoption resulted in a $21.0 million increase to other current assets and accrued expenses and other current liabilities as of February 28, 2019 related to estimated vehicle sales returns, which were previously shown on a net basis.
Disaggregation of Revenue
## Table 0 ##
Used Vehicle Sales.
We sell used vehicles at our retail stores, and revenue from the sale of these vehicles is recognized upon transfer of control of the vehicle to the customer.
As part of our customer service strategy, we guarantee the retail vehicles we sell with a 7-day, money-back guarantee.
We record a reserve for estimated returns based on historical experience and trends.
The reserve for estimated returns is presented gross on the consolidated balance sheets, with a return asset recorded in other current assets and a refund liability recorded in accrued expenses and other current liabilities.
We also guarantee the used vehicles we sell with at least a 30-day limited warranty.
These warranties are deemed assurance-type warranties and accounted for as warranty obligations.
See Note 17 for additional information on this warranty and its related obligation.
Wholesale Vehicle Sales.
Wholesale vehicles are sold at our auctions, and revenue from the sale of these vehicles is recognized upon transfer of control of the vehicle to the customer.
Dealers also pay a fee to us based on the sale price of the vehicles they purchase.
This fee is recognized as revenue at the time of sale.
While we provide condition disclosures on each wholesale vehicle sold, the vehicles are subject to a limited right of return.
We record a reserve for estimated returns based on historical experience and trends.
The reserve for estimated returns is presented gross on the consolidated balance sheets, with a return asset recorded in other current assets and a refund liability recorded in accrued expenses and other current liabilities.
EPP Revenues.
We also sell ESP and GAP products on behalf of unrelated third parties, who are primarily responsible for fulfilling the contract, to customers who purchase a retail vehicle.
The ESPs we currently offer on all used vehicles provide coverage up to 60 months (subject to mileage limitations), while GAP covers the customer for the term of their finance contract.
We recognize revenue, on a net basis, at the time of sale.
We also record a reserve for estimated contract cancellations.
The reserve for cancellations is evaluated for each product and is based on forecasted forward cancellation curves utilizing historical experience, recent trends and credit mix of the customer base.
Our risk related to contract cancellations is limited to the revenue that we receive.
Cancellations fluctuate depending on the volume of EPP sales, customer financing default or prepayment rates, and shifts
markets and the effectiveness of hedging strategies.
This credit environment adversely impacted the Company’s credit sales and trading and corporate lending activities.
In addition, such conditions contributed to increased volatility and systematic risk reduction in the equity markets, which adversely affected the Company’s quantitative trading strategies.
Sales and trading revenues included the following:
## Table 1 ##
(1) Amounts include Principal transactions-trading, Commissions and Net interest revenues.
Equity and fixed income sales and trading revenues include certain funding costs that were not previously allocated to those businesses.
Other sales and trading net revenues primarily include net losses from loans and closed pipeline commitments related to investment banking, corporate lending and other corporate activities.
All prior-year amounts have been reclassified to conform to the current year’s presentation.
Equity sales and trading revenues increased 38% to a record $8,658 million in fiscal 2007, benefiting from record international revenues.
The increase was driven by record revenues from derivative products and prime brokerage and higher revenues from equity cash and financing products, partially offset by trading losses in quantitative strategies resulting from unfavorable positioning.
Revenues from derivative products benefited from strong customer flows.
Prime brokerage generated record revenues, reflecting continued growth in global client asset balances.
Higher revenues from financing products were primarily due to higher commission revenues driven by strong market volumes.
Equity sales and trading revenues also benefited from the widening of the Company’s credit spreads on financial instruments that are accounted for at fair value, including, but not limited to, those for which the fair value option was elected pursuant to the Statement of Financial Accounting Standards (“SFAS”) No.159, “The Fair Value Option for Financial Assets and Financial Liabilities” (“SFAS No.159”) on December 1, 2006 (see Note 3 to the consolidated financial statements).
Revenues increased by approximately $390 million due to the widening of the Company’s credit spreads during the year resulting from the decrease in the fair value of certain of the Company’s long-term and short-term borrowings, such as structured notes, for which the fair value option was elected.
Equity sales and trading revenues increased 31% to a then record $6,281 million in fiscal 2006.
The increase was broad based and included higher revenues from derivatives and equity cash products, financing products, prime brokerage and principal trading strategies.
Derivative revenues increased due to strong customer flows, although volatility in the global equity markets continued to be generally low.
Revenues from equity cash products reflected higher market volumes, particularly in Europe and Asia.
Financing product revenues also benefited from increased client activity.
Prime brokerage generated record revenues, reflecting continued growth in global client asset balances.
Global equity markets generally trended higher and created favorable opportunities for principal trading strategies.
Although commission revenues increased, revenues continued to be affected by intense competition, particularly in the U. S. , and a continued shift toward electronic trading.
Fixed income sales and trading revenues decreased 93% to $650 million in fiscal 2007.
Fiscal 2007 results reflected significant losses in credit products and lower results in commodities, partially offset by record results in interest rate and currency products.
Credit product revenues decreased $9.4 billion, primarily reflecting mortgage-related writedowns of $7.8 billion, reflecting the deterioration in value of U. S.  subprime trading positions, principally super senior derivative positions in CDOs entered into primarily by the Company’s proprietary trading group.
Spread widening, lower liquidity and higher volatility resulted in lower origination, securitization and trading results across most credit product groups and also adversely affected the performance
Capital Hedge Program During 2017, we commenced a capital hedge program within the Individual Annuities segment to further hedge equity market impacts.
The program is intended to protect a portion of the overall capital position of the variable annuities business against its exposure to the equity markets.
The capital hedge program is conducted using equity derivatives which include equity call and put options, total return swaps and futures contracts.
The changes in value of these derivatives are recognized in adjusted operating income over the expected duration of the capital hedge program.
External Reinsurance As of December 31, 2018, $2.9 billion of Highest Daily Lifetime Income (“HDI”) v. 3.0 account values are reinsured to Union Hamilton Reinsurance Ltd. , an external counterparty, pursuant to a quota share agreement that covered approximately 50% of new business between April 1, 2015 and December 31, 2016.
HDI v. 3.0 is the current version of our “highest daily” living benefits guarantee that is available with our Prudential Premier?
Retirement Variable Annuity.
New sales of HDI v. 3.0 subsequent to December 31, 2016 are not covered by this external reinsurance agreement.
Product Specific Risks and Risk Mitigants For certain living benefits guarantees, claims will primarily represent the funding of contractholder lifetime withdrawals after the cumulative withdrawals have first exhausted the contractholder account value.
Due to the age of the in-force block, limited claim payments have occurred to date, and they are not expected to increase significantly within the next five years, based upon current assumptions.
The timing and amount of future claims will depend on actual returns on contractholder account value and actual contractholder behavior relative to our assumptions.
The majority of our current living benefits guarantees provide for guaranteed lifetime contractholder withdrawal payments inclusive of a “highest daily” contract value guarantee.
Our Prudential Defined Income (“PDI”) variable annuity complements our variable annuity products with the highest daily benefit and provides for guaranteed lifetime contractholder withdrawal payments, but restricts contractholder asset allocation to a single bond fund sub-account within the separate accounts.
The majority of our variable annuity contracts with living benefits guarantees, and all new contracts sold with our highest daily living benefits feature, include risk mitigants in the form of an automatic rebalancing feature and/or inclusion in our ALM strategy.
We may also utilize external reinsurance as a form of additional risk mitigation.
The risks associated with the guaranteed benefits of certain legacy products that were sold prior to our development of the automatic rebalancing feature are also managed through our ALM strategy.
Certain legacy GMAB products include the automatic rebalancing feature, but are not included in the ALM strategy.
The PDI product and contracts with the GMIB feature have neither risk mitigant.
Certain risks associated with PDI are managed through the limitation of contractholder asset allocations to a single bond fund sub-account.
For our GMDBs, we provide a benefit payable in the event of death.
Our base GMDB is generally equal to a return of cumulative deposits adjusted for any partial withdrawals.
Certain products include an optional enhanced GMDB based on the greater of a minimum return on the contract value or an enhanced value.
We have retained the risk that the total amount of death benefit payable may be greater than the contractholder account value; however, a substantial portion of the account values associated with GMDBs are subject to an automatic rebalancing feature because the contractholder also selected a living benefit guarantee which includes an automatic rebalancing feature.
All of the variable annuity account values with living benefit guarantees also contain GMDBs.
The living and death benefit features for these contracts cover the same insured life and, consequently, we have insured both the longevity and mortality risk on these contracts.
The following table sets forth the risk management profile of our living benefit guarantees and GMDB features as of the periods indicated.
## Table 2 ##
(1) All contracts with living benefit guarantees also contain GMDB features, covering the same insured contract.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="3">Years Ended February 28</td></tr><tr><td>(In millions)</td><td>2019</td><td>2018</td><td>2017</td></tr><tr><td>Used vehicle sales</td><td>$15,172.8</td><td>$14,392.4</td><td>$13,270.7</td></tr><tr><td>Wholesale vehicle sales</td><td>2,393.0</td><td>2,181.2</td><td>2,082.5</td></tr><tr><td>Other sales and revenues:</td><td></td><td></td><td></td></tr><tr><td>Extended protection plan revenues</td><td>382.5</td><td>336.4</td><td>305.5</td></tr><tr><td>Third-party finance fees, net</td><td>-43.4</td><td>-49.9</td><td>-38.4</td></tr><tr><td>Service revenues</td><td>136.8</td><td>134.0</td><td>133.9</td></tr><tr><td>Other</td><td>131.4</td><td>126.2</td><td>121.0</td></tr><tr><td>Total other sales and revenues</td><td>607.3</td><td>546.7</td><td>522.0</td></tr><tr><td>Total net sales and operating revenues</td><td>$18,173.1</td><td>$17,120.2</td><td>$15,875.1</td></tr></table>
<table><tr><td></td><td>Fiscal 2007-1</td><td>Fiscal 2006-1</td><td>Fiscal 2005-1</td></tr><tr><td></td><td colspan="3">(dollars in millions)</td></tr><tr><td>Equity</td><td>$8,658</td><td>$6,281</td><td>$4,810</td></tr><tr><td>Fixed income</td><td>650</td><td>9,291</td><td>6,571</td></tr><tr><td>Other</td><td>-1,242</td><td>-288</td><td>-225</td></tr><tr><td>Total sales and trading revenues</td><td>$8,066</td><td>$15,284</td><td>$11,156</td></tr></table>
<table><tr><td></td><td colspan="6">December 31,</td></tr><tr><td></td><td colspan="2">2018</td><td colspan="2">2017</td><td colspan="2">2016</td></tr><tr><td></td><td>Account Value</td><td>% of Total</td><td>Account Value</td><td>% of Total</td><td>Account Value</td><td>% of Total</td></tr><tr><td></td><td colspan="6">(in millions)</td></tr><tr><td>Living benefit/GMDB features-1:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Both ALM strategy and automatic rebalancing-2</td><td>$101,496</td><td>69%</td><td>$114,686</td><td>69%</td><td>$106,585</td><td>69%</td></tr><tr><td>ALM strategy only</td><td>7,520</td><td>5%</td><td>9,317</td><td>6%</td><td>9,409</td><td>6%</td></tr><tr><td>Automatic rebalancing only</td><td>804</td><td>1%</td><td>1,003</td><td>1%</td><td>1,168</td><td>1%</td></tr><tr><td>External reinsurance-3</td><td>2,873</td><td>2%</td><td>3,227</td><td>2%</td><td>2,932</td><td>2%</td></tr><tr><td>PDI</td><td>11,237</td><td>7%</td><td>9,996</td><td>5%</td><td>7,926</td><td>5%</td></tr><tr><td>Other Products</td><td>2,306</td><td>2%</td><td>2,791</td><td>2%</td><td>2,730</td><td>2%</td></tr><tr><td>Total living benefit/GMDB features</td><td>$126,236</td><td></td><td>$141,020</td><td></td><td>$130,750</td><td></td></tr><tr><td>GMDB features and other-4</td><td>21,103</td><td>14%</td><td>24,133</td><td>15%</td><td>22,545</td><td>15%</td></tr><tr><td>Total variable annuity account value</td><td>$147,339</td><td></td><td>$165,153</td><td></td><td>$153,295</td><td></td></tr></table>

Question: What's the current growing rate of the Account Value of Other Products on December 31?
Answer: -0.17377
Reasoning program: subtract(2306,2791), divide(#0,2791)