UNITED PARCEL SERVICE, INC.  AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 102 8.375% Debentures The 8.375% debentures consist of two separate tranches, as follows: ?
$276 million of the debentures have a maturity of April 1, 2030.
These debentures have an 8.375% interest rate until April 1, 2020, and, thereafter, the interest rate will be 7.62% for the final 10 years.
These debentures are redeemable in whole or in part at our option at any time.
The redemption price is equal to the greater of 100% of the principal amount and accrued interest, or the sum of the present values of the remaining scheduled payout of principal and interest thereon discounted to the date of redemption (at a benchmark treasury yield plus five basis points) plus accrued interest.  ?
$424 million of the debentures have a maturity of April 1, 2020.
These debentures are not subject to redemption prior to maturity.
Interest is payable semiannually in April and October for both tranches and neither tranche is subject to sinking fund requirements.
We subsequently entered into interest rate swaps on the 2020 debentures, which effectively converted the fixed interest rates on the debentures to variable LIBOR-based interest rates.
The average interest rate payable on the 2020 debentures, including the impact of the interest rate swaps, for 2016 and 2015 was 5.43% and 5.04%, respectively.
Floating Rate Senior Notes The floating rate senior notes bear interest at either one or three-month LIBOR, less a spread ranging from 30 to 45 basis points.
The average interest rate for 2016 and 2015 was 0.21% and 0.01%, respectively.
These notes are callable at various times after 30 years at a stated percentage of par value, and putable by the note holders at various times after 10 years at a stated percentage of par value.
The notes have maturities ranging from 2049 through 2066.
In March, June and August 2016, we issued floating rate senior notes in principal balances of $118, $74 and $35 million, respectively.
These notes bear interest at three-month LIBOR less 30 basis points and mature in 2066.
Capital Lease Obligations We have certain property, plant and equipment subject to capital leases.
Some of the obligations associated with these capital leases have been legally defeased.
The recorded value of our property, plant and equipment subject to capital leases is as follows as of December 31 (in millions):
## Table 0 ##
These capital lease obligations have principal payments due at various dates from 2017 through 3005.
UNITED PARCEL SERVICE, INC.  AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 123 NOTE 14.
EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share amounts):
## Table 1 ##
Diluted earnings per share for the years ended December 31, 2016, 2015 and 2014 exclude the effect of 0.2, 0.2 and 0.1 million shares, respectively, of common stock that may be issued upon the exercise of employee stock options because such effect would be antidilutive.
NOTE 15.
DERIVATIVE INSTRUMENTS AND RISK MANAGEMENT Risk Management Policies We are exposed to market risk, primarily related to foreign exchange rates, commodity prices and interest rates.
These exposures are actively monitored by management.
To manage the volatility relating to certain of these exposures, we enter into a variety of derivative financial instruments.
Our objective is to reduce, where it is deemed appropriate to do so, fluctuations in earnings and cash flows associated with changes in foreign currency rates, commodity prices and interest rates.
It is our policy and practice to use derivative financial instruments only to the extent necessary to manage exposures.
As we use price sensitive instruments to hedge a certain portion of our existing and anticipated transactions, we expect that any loss in value for those instruments generally would be offset by increases in the value of those hedged transactions.
We do not hold or issue derivative financial instruments for trading or speculative purposes.
Credit Risk Management The forward contracts, swaps and options discussed below contain an element of risk that the counterparties may be unable to meet the terms of the agreements.
However, we minimize such risk exposures for these instruments by limiting the counterparties to banks and financial institutions that meet established credit guidelines and by monitoring counterparty credit risk to prevent concentrations of credit risk with any single counterparty.
We have agreements with all of our active counterparties (covering the majority of our derivative positions) containing early termination rights and/or zero threshold bilateral collateral provisions whereby cash is required based on the net fair value of derivatives associated with those counterparties.
Events such as a counterparty credit rating downgrade (depending on the ultimate rating level) could also allow us to take additional protective measures such as the early termination of trades.
At December 31, 2016 and 2015, we held cash collateral of $575 and $717 million, respectively, under these agreements; this collateral is included in "cash and cash equivalents" on the consolidated balance sheets and its use by UPS is not restricted.
In connection with the agreements described above, we could also be required to provide additional collateral or terminate transactions with certain counterparties in the event of a downgrade of our credit rating.
The amount of collateral required would be determined by the net fair value of the associated derivatives with each counterparty.
At December 31, 2016 and 2015, no collateral was required to be posted with any of our counterparties; however, the aggregate fair value of instruments not covered by the zero threshold bilateral collateral provisions that were in a net liability position was $10 million at December 31, 2016.
We have not historically incurred, and do not expect to incur in the future, any losses as a result of counterparty default.
Item 7.
Management’s Discussion and Analysis of Financial Condition and Results of Operations Overview The U. S.  economic environment was mixed in 2016 as relatively stable consumer conditions were somewhat offset by continued weakness in industrial production and soft business investment.
U. S.  manufacturing has shown positive signs of growth in recent months, reaching a two-year high in the fourth quarter of 2016, and we continue to see modest GDP growth.
Consumer confidence reached a high in the fourth quarter of 2016 and there were lower fuel prices coupled with the continuation of steady job growth throughout the year.
Holiday retail sales grew 4% in 2016 as compared to last year, mainly driven by online sales, while the holiday season saw many categories of traditional brick and mortar stores struggle.
Continued growth in e-commerce and omni-channel retail sales has driven package volume demand for residential products.
Given these trends, our products most aligned with business-to-consumer shipments have experienced the strongest growth.
Outside the U. S. , emerging markets have stabilized in recent months and most developed nations have seen modest growth.
The impending exit of the United Kingdom from the European Union creates some uncertainty regarding its impact on global GDP.
The uneven nature of economic growth worldwide and fluctuations in currency markets, particularly the strengthening of the U. S.  Dollar, have continued shifting trade patterns and weakened demand in certain trade lanes.
As a result of these circumstances, we continued to adjust our air capacity and cost structure in our transportation network to better match the prevailing volume levels.
Our broad portfolio of product offerings and the flexibilities inherent in our transportation network have helped us adapt to these changing trends.
While the worldwide economic environment remained challenging in 2016, we have continued to undertake several initiatives in the U. S.  and internationally to (1) improve the flexibility and capacity in our transportation network; (2) improve yield management; and (3) increase operational efficiency and contain costs across all segments.
Most notably, the continued deployment of technology improvements (including several facility automation projects and the accelerated deployment of our On Road Integrated Optimization and Navigation system - "ORION") should continue to increase our network capacity and improve operational efficiency, flexibility and reliability.
Additionally, we have continued to utilize newly expanded operating facilities to improve time-in-transit for shipments in each region.
Our consolidated results are presented in the table below:
## Table 2 ##

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>2016</td><td>2015</td></tr><tr><td>Vehicles</td><td>$68</td><td>$74</td></tr><tr><td>Aircraft</td><td>2,291</td><td>2,289</td></tr><tr><td>Buildings</td><td>190</td><td>207</td></tr><tr><td>Accumulated amortization</td><td>-896</td><td>-849</td></tr><tr><td>Property, plant and equipment subject to capital leases</td><td>$1,653</td><td>$1,721</td></tr></table>
<table><tr><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>Numerator:</td><td></td><td></td><td></td></tr><tr><td>Net income attributable to common shareowners</td><td>$3,431</td><td>$4,844</td><td>$3,032</td></tr><tr><td>Denominator:</td><td></td><td></td><td></td></tr><tr><td>Weighted-average shares</td><td>878</td><td>896</td><td>913</td></tr><tr><td>Deferred compensation obligations</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Vested portion of restricted shares</td><td>4</td><td>4</td><td>2</td></tr><tr><td>Denominator for basic earnings per share</td><td>883</td><td>901</td><td>916</td></tr><tr><td>Effect of Dilutive Securities:</td><td></td><td></td><td></td></tr><tr><td>Restricted performance units</td><td>3</td><td>4</td><td>7</td></tr><tr><td>Stock options</td><td>1</td><td>1</td><td>1</td></tr><tr><td>Denominator for diluted earnings per share</td><td>887</td><td>906</td><td>924</td></tr><tr><td>Basic Earnings Per Share</td><td>$3.89</td><td>$5.38</td><td>$3.31</td></tr><tr><td>Diluted Earnings Per Share</td><td>$3.87</td><td>$5.35</td><td>$3.28</td></tr></table>
<table><tr><td></td><td colspan="3">Year Ended December 31,</td><td colspan="2">% Change</td></tr><tr><td></td><td>2016</td><td>2015</td><td>2014</td><td>2016/ 2015</td><td>2015/ 2014</td></tr><tr><td>Revenue (in millions)</td><td>$60,906</td><td>$58,363</td><td>$58,232</td><td>4.4%</td><td>0.2%</td></tr><tr><td>Operating Expenses (in millions)</td><td>55,439</td><td>50,695</td><td>53,264</td><td>9.4%</td><td>-4.8%</td></tr><tr><td>Operating Profit (in millions)</td><td>$5,467</td><td>$7,668</td><td>$4,968</td><td>-28.7%</td><td>54.3%</td></tr><tr><td>Operating Margin</td><td>9.0%</td><td>13.1%</td><td>8.5%</td><td></td><td></td></tr><tr><td>Average Daily Package Volume (in thousands)</td><td>19,090</td><td>18,324</td><td>18,016</td><td>4.2%</td><td>1.7%</td></tr><tr><td>Average Revenue Per Piece</td><td>$10.30</td><td>$10.37</td><td>$10.58</td><td>-0.7%</td><td>-2.0%</td></tr><tr><td>Net Income (in millions)</td><td>$3,431</td><td>$4,844</td><td>$3,032</td><td>-29.2%</td><td>59.8%</td></tr><tr><td>Basic Earnings Per Share</td><td>$3.89</td><td>$5.38</td><td>$3.31</td><td>-27.7%</td><td>62.5%</td></tr><tr><td>Diluted Earnings Per Share</td><td>$3.87</td><td>$5.35</td><td>$3.28</td><td>-27.7%</td><td>63.1%</td></tr></table>

Question: What was the average of Average Daily Package Volume in 2016, 2015, and 2014 for Year Ended December 31,? (in thousand)
Answer: 18476.7
Reasoning program: add(19090,18324), add(#0,18016), divide(#1,const_3)