and the derivatives hedging these benefits, as well as the changes in fair value of derivatives hedging GMDB provisions.
Benefits, claims, losses and settlement expenses also include amortization of DSIC.
Amortization of DAC Direct sales commissions and other costs capitalized as DAC are amortized over time.
For annuity and UL contracts, DAC are amortized based on projections of estimated gross profits over amortization periods equal to the approximate life of the business.
For other insurance products, DAC are generally amortized as a percentage of premiums over amortization periods equal to the premium-paying period.
For certain mutual fund products, DAC are generally amortized over fixed periods on a straight-line basis adjusted for redemptions.
See ‘‘Deferred Acquisition Costs and Deferred Sales Inducement Costs’’ under ‘‘Critical Accounting Policies’’ for further information on DAC.
Interest and Debt Expense Interest and debt expense primarily includes interest on corporate debt and debt of CIEs, the impact of interest rate hedging activities and amortization of debt issuance costs.
General and Administrative Expense General and administrative expense includes compensation, share-based awards and other benefits for employees (other than employees directly related to distribution, including financial advisors), integration costs, professional and consultant fees, information technology, facilities and equipment, advertising and promotion, legal and regulatory and corporate related expenses.
Assets Under Management and Administration Assets under management (‘‘AUM’’) include external client assets for which we provide investment management services, such as the assets of the Columbia funds and Threadneedle funds, assets of institutional clients and assets of clients in our advisor platform held in wrap accounts as well as assets managed by sub-advisers selected by us.
AUM also includes certain assets on our Consolidated Balance Sheets for which we provide investment management services and recognize management fees in our Asset Management segment, such as the assets of the general account and the variable product funds held in the separate accounts of our life insurance subsidiaries and client assets of CIEs.
These assets do not include assets under advisement, for which we provide model portfolios but do not have full discretionary investment authority.
Corporate & Other AUM primarily includes former bank assets that are managed within our Corporate & Other segment.
Assets under administration (‘‘AUA’’) include assets for which we provide administrative services such as client assets invested in other companies’ products that we offer outside of our wrap accounts.
These assets include those held in clients’ brokerage accounts.
We generally record revenues received from administered assets as distribution fees.
We do not exercise management discretion over these assets and do not earn a management fee.
These assets are not reported on our Consolidated Balance Sheets.
AUA also includes certain assets on our Consolidated Balance Sheets for which we do not provide investment management services and do not recognize management fees, such as investments in non-affiliated funds held in the separate accounts of our life insurance subsidiaries.
These assets do not include assets under advisement, for which we provide model portfolios but do not have full discretionary investment authority.
The following table presents detail regarding our AUM and AUA:
## Table 0 ##
NM Not Meaningful.
Total AUM increased $72.8 billion, or 13%, to $635.2 billion as of December 31, 2013 compared to $562.4 billion as of December 31, 2012 due to a $29.0 billion increase in Advice & Wealth Management AUM driven by wrap account net inflows and market appreciation and a $45.4 billion increase in Asset Management AUM driven by market appreciation, partially offset by net outflows.
See our segment results of operations discussion below for additional information on changes in our AUM.
Entergy Corporation and Subsidiaries Management’s Financial Discussion and Analysis The MISO deferral variance is primarily due to the deferral in 2014 of non-fuel MISO-related charges, as approved by the LPSC and the MPSC.
The deferral of non-fuel MISO-related charges is partially offset in other operation and maintenance expenses.
See Note 2 to the financial statements for further discussion of the recovery of non-fuel MISO-related charges.
The Waterford 3 replacement steam generator provision is due to a regulatory charge of approximately $32 million recorded in 2015 related to the uncertainty associated with the resolution of the Waterford 3 replacement steam generator project.
See Note 2 to the financial statements for a discussion of the Waterford 3 replacement steam generator prudence review proceeding.
Entergy Wholesale Commodities Following is an analysis of the change in net revenue comparing 2015 to 2014.
## Table 1 ##
As shown in the table above, net revenue for Entergy Wholesale Commodities decreased by approximately $558 million in 2015 primarily due to: ?
lower realized wholesale energy prices, primarily due to significantly higher Northeast market power prices in 2014, and lower capacity prices in 2015; and ?
a decrease in net revenue as a result of Vermont Yankee ceasing power production in December 2014.
The decrease was partially offset by higher volume in the Entergy Wholesale Commodities nuclear fleet, excluding Vermont Yankee, resulting from fewer refueling outage days in 2015 as compared to 2014, partially offset by more unplanned outage days in 2015 as compared to 2014.
Based on current tax laws, the Company’s effective tax rate in 2007 is expected to be approximately 23 percent before considering the effect of any unusual or special items that may affect our tax rate in future years.
Liquidity, Capital Resources and Financial Position We believe our ability to generate cash from operating activities is one of our fundamental financial strengths.
We expect cash flows from operating activities to be strong in 2007 and in future years.
Accordingly, our Company expects to meet all of our financial commitments and operating needs for the foreseeable future.
We expect to use cash generated from operating activities primarily for dividends, share repurchases, acquisitions and aggregate contractual obligations.
Cash Flows from Operating Activities Net cash provided by operating activities for the years ended December 31, 2006, 2005 and 2004 was approximately $6.0 billion, $6.4 billion and $6.0 billion, respectively.
Cash flows from operating activities decreased 7 percent in 2006 compared to 2005.
This decrease was primarily the result of payments in 2006 of marketing accruals recorded in 2005 related to increased marketing and innovation activities and increased tax payments made in the first quarter of 2006 related to the 2005 repatriation of foreign earnings under the Jobs Creation Act.
This decrease was partially offset by an increase in cash receipts in 2006 from customers, which was driven by a 4 percent growth in net operating revenues.
Our cash flows from operating activities in 2006 also decreased versus 2005 as a result of a contribution of approximately $216 million to a U. S.  Voluntary Employee Beneficiary Association (‘‘VEBA’’), a tax-qualified trust to fund retiree medical benefits (refer to Note 16 of Notes to Consolidated Financial Statements) and a $100 million donation made to The Coca-Cola Foundation.
Cash flows from operating activities increased 8 percent in 2005 compared to 2004.
The increase was primarily related to an increase in cash receipts from customers, which was driven by a 6 percent growth in net operating revenues.
These higher cash collections were offset by increased payments to suppliers and vendors, including payments related to our increased marketing spending.
Our cash flows from operating activities in 2005 also improved versus 2004 as a result of a $137 million reduction in payments related to our 2003 streamlining initiatives.
Cash flows from operating activities in 2005 were unfavorably impacted by a $176 million increase in income tax payments primarily related to payment of a portion of the tax provision associated with the repatriation of previously unremitted foreign earnings under the Jobs Creation Act.
Cash Flows from Investing Activities Our cash flows used in investing activities are summarized as follows (in millions):
## Table 2 ##
Purchases of property, plant and equipment accounted for the most significant cash outlays for investing activities in each of the three years ended December 31, 2006.
Our Company currently estimates that purchases of property, plant and equipment in 2007 will be approximately $1.5 billion.
ENVIRONMENTAL COMPLIANCE Our environmental compliance costs are undiscounted and include the cost of ongoing monitoring programs, the cost of remediation efforts and other similar costs.
We accrue costs for environmental assessment and remediation efforts when we determine that a liability is probable and we can reasonably estimate the cost.
At the early stages of a remediation effort, environmental remediation liabilities are not easily quantified due to the uncertainties of various factors.
The range of an estimated remediation liability is defined and redefined as events in the remediation effort occur, but generally liabilities are recognized no later than completion of the remedial feasibility study.
When we can estimate a range of probable loss, we accrue the most likely amount.
In the event that no amount in the range of probable loss is considered most likely, the minimum loss in the range is accrued.
As of December 31, 2014, the spread between the amount accrued and the maximum loss in the range for all sites for which a range can be reasonably estimated was $3,000,000.
Accrual amounts may be based on technical cost estimations or the professional judgment of experienced environmental managers.
Our Safety, Health and Environmental Affairs Management Committee routinely reviews cost estimates and key assumptions in response to new information, such as the kinds and quantities of hazardous substances, available technologies and changes to the parties participating in the remediation efforts.
However, a number of factors, including adverse agency rulings and encountering unanticipated conditions as remediation efforts progress, may cause actual results to differ materially from accrued costs.
For additional information regarding environmental compliance costs see Note 8.
CLAIMS AND LITIGATION INCLUDING SELF-INSURANCE We are involved with claims and litigation, including items covered under our self-insurance program.
We are self-insured for losses related to workers' compensation up to $2,000,000 per occurrence and automotive and general/product liability up to $3,000,000 per occurrence.
We have excess coverage on a per occurrence basis beyond these retention levels.
Under our self-insurance program, we aggregate certain claims and litigation costs that are reasonably predictable based on our historical loss experience and accrue losses, including future legal defense costs, based on actuarial studies.
Certain claims and litigation costs, due to their unique nature, are not included in our actuarial studies.
We use both internal and outside legal counsel to assess the probability of loss, and establish an accrual when the claims and litigation represent a probable loss and the cost can be reasonably estimated.
For matters not included in our actuarial studies, legal defense costs are accrued when incurred.
The following table outlines our self-insurance program at December 31:
## Table 3 ##
Estimated payments (undiscounted) under our self-insurance program for the five years subsequent to December 31, 2014 are as follows:

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="2">December 31,</td><td colspan="2"></td></tr><tr><td></td><td>2013</td><td>2012</td><td colspan="2">Change</td></tr><tr><td></td><td colspan="3">(in billions)</td><td></td></tr><tr><td>Assets Under Management and Administration</td><td></td><td></td><td></td><td></td></tr><tr><td>Advice & Wealth Management AUM</td><td>$154.0</td><td>$125.0</td><td>$29.0</td><td>23%</td></tr><tr><td>Asset Management AUM</td><td>500.8</td><td>455.4</td><td>45.4</td><td>10</td></tr><tr><td>Corporate & Other AUM</td><td>0.9</td><td>—</td><td>0.9</td><td>NM</td></tr><tr><td>Eliminations</td><td>-20.5</td><td>-18.0</td><td>-2.5</td><td>-14</td></tr><tr><td>Total Assets Under Management</td><td>635.2</td><td>562.4</td><td>72.8</td><td>13</td></tr><tr><td>Total Assets Under Administration</td><td>136.1</td><td>118.6</td><td>17.5</td><td>15</td></tr><tr><td>Total AUM and AUA</td><td>$771.3</td><td>$681.0</td><td>$90.3</td><td>13%</td></tr></table>
<table><tr><td></td><td>Amount (In Millions)</td></tr><tr><td>2014 net revenue</td><td>$2,224</td></tr><tr><td>Nuclear realized price changes</td><td>-310</td></tr><tr><td>Vermont Yankee shutdown in December 2014</td><td>-305</td></tr><tr><td>Nuclear volume, excluding Vermont Yankee effect</td><td>20</td></tr><tr><td>Other</td><td>37</td></tr><tr><td>2015 net revenue</td><td>$1,666</td></tr></table>
<table><tr><td>Year Ended December 31,</td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td>Cash flows (used in) provided by investing activities:</td><td></td><td></td><td></td></tr><tr><td>Acquisitions and investments, principally trademarks and bottling companies</td><td>$ -901</td><td>$ -637</td><td>$ -267</td></tr><tr><td>Purchases of other investments</td><td>-82</td><td>-53</td><td>-46</td></tr><tr><td>Proceeds from disposals of other investments</td><td>640</td><td>33</td><td>161</td></tr><tr><td>Purchases of property, plant and equipment</td><td>-1,407</td><td>-899</td><td>-755</td></tr><tr><td>Proceeds from disposals of property, plant and equipment</td><td>112</td><td>88</td><td>341</td></tr><tr><td>Other investing activities</td><td>-62</td><td>-28</td><td>63</td></tr><tr><td>Net cash used in investing activities</td><td>$ -1,700</td><td>$ -1,496</td><td>$ -503</td></tr></table>
<table><tr><td>dollars in thousands</td><td>2014</td><td>2013</td></tr><tr><td>Self-insurance Program</td><td></td><td></td></tr><tr><td>Self-insured liabilities (undiscounted)</td><td>$ 43,731</td><td>$ 50,538</td></tr><tr><td>Insured liabilities (undiscounted)</td><td>17,758</td><td>17,497</td></tr><tr><td>Discount rate</td><td>1.29%</td><td>0.98%</td></tr><tr><td>Amounts Recognized in Consolidated</td><td></td><td></td></tr><tr><td>Balance Sheets</td><td></td><td></td></tr><tr><td>Investments and long-term receivables</td><td>$ 16,884</td><td>$ 16,917</td></tr><tr><td>Other accrued liabilities</td><td>-13,131</td><td>-16,657</td></tr><tr><td>Other noncurrent liabilities</td><td>-45,569</td><td>-49,148</td></tr><tr><td>Net liabilities (discounted)</td><td>$ -41,816</td><td>$ -48,888</td></tr></table>

Question: Which year is Advice & Wealth Management AUM the highest for December 31, ?
Answer: 2013