ABIOMED, INC.  AND SUBSIDIARIES Notes to Consolidated Financial Statements—(Continued) The calculation of diluted weighted-average shares outstanding for the fiscal years ended March 31, 2004, 2005 and 2006 excludes potential stock from unexercised stock options that have an exercise price below the average market price as shown below.
## Table 0 ##
The calculation of diluted weighted average shares outstanding excludes unissued shares of common stock associated with outstanding stock options that have exercise prices greater than the average market price.
For the fiscal years ending March 31, 2004, 2005 and 2006, the weighted average number of these potential shares totaled 1,908,347, 825,014 and 1,417,130 shares, respectively.
The calculation of diluted weighted average shares outstanding for these fiscal years also excludes warrants to purchase 400,000 share of common stock issued in connection with the acquisition of intellectual property (see Note 5).
(k) Cash and Cash Equivalents The Company classifies any marketable security with a maturity date of 90 days or less at the time of purchase as a cash equivalent.
At March 31, 2005 and March 31, 2006, the Company had restricted cash of approximately $97,000 and $261,000, respectively, which are included in other assets at March 31, 2005 and prepaid expenses and other current assets at March 31, 2006, respectively.
This cash represents security deposits held in the Company’s European banks for certain facility and auto leases.
(l) Marketable Securities and Long-term Investments The Company classifies any security with a maturity date of greater than 90 days at the time of purchase as marketable securities and classifies marketable securities with a maturity date of greater than one year from the balance sheet date as long-term investments based upon the ability and intent of the Company.
In accordance with Statement of Financial Accounting Standards (SFAS) No.115, Accounting for Certain Investments in Debt and Equity Securities, securities that the Company has the positive intent and ability to hold to maturity are reported at amortized cost and classified as held-to-maturity securities.
At March 31, 2006 the held-to-maturity investment portfolio consisted primarily of government securities and corporate bonds with maturities of one year or less.
The amortized cost, including interest receivable, and market value of held–to-maturity short-term marketable securities were approximately $29,669,000 and $29,570,000 at March 31, 2005, and $16,901,000 and $16,866,000 at March 31, 2006, respectively.
The Company has classified its portion of the investment portfolio consisting of corporate asset-backed securities as available-for–sale securities.
The cost of these securities approximates market value and was $4,218,000 at March 31, 2005 and $6,102,000 at March 31, 2006.
Principal payments of these available-for-sale securities are typically made on an expected pre-determined basis rather than on the longer contractual maturity date.
improved efficiencies in manufacturing production and favorable foreign currency impact of lower Euro as much of our manufacturing is performed in Germany.
Research and Development Expenses Research and development expenses for fiscal 2016 increased by $13.8 million, or 38%, to $49.8 million from $36.0 million in fiscal 2015.
The increase in research and development expenses was primarily due to product development initiatives on our existing products and new technologies, increased clinical spending primarily related to our cVAD Registry?
and post approval studies, a focus on quality initiatives for our Impella devices and a full year of activities related to our ECP purchase that was completed in July 2014.
Selling, General and Administrative Expenses Selling, general and administrative expenses for fiscal 2016 increased by $38.6 million, or 31%, to $164.3 million from $125.7 million in fiscal 2015.
The increase in selling, general and administrative expenses was primarily due to the hiring of additional U. S.  field sales and clinical personnel, increased spending on marketing initiatives as we continue to educate physicians on the benefits of hemodynamic support after receiving PMA approval for Impella 2.5, higher stock-based compensation expense and higher professional fees to support the growth of our business.
Income Tax Provision We recorded an income tax provision of $27.7 million in fiscal 2016 compared to an income tax benefit of $84.9 million in fiscal 2015.
The increase in income tax provision for fiscal 2016 was due to the fact that we had a full valuation allowance on most of our federal, state and certain foreign deferred tax assets prior to March 31, 2015, at which time most of the valuation allowance was reversed.
The income tax provision for fiscal 2016 was primarily due to the income before taxes of $65.8 million generated in fiscal 2016, primarily in the U. S.  and Germany.
The income tax benefit in fiscal 2015 was comprised of an $87.1 million deferred tax benefit primarily due to the release of our valuation allowance on certain of our deferred tax assets in the year ended March 31, 2015, partially offset by a current income tax provision of $2.2 million in U.
S and Germany.
Net Income During fiscal 2016, we recognized net income of $38.1 million, or $0.90 per basic share and $0.85 per diluted share, compared to $113.7 million, or $2.80 per basic share and $2.65 per diluted share for fiscal 2015.
Our net income for fiscal 2016 was driven primarily to higher Impella product revenue due to greater utilization of our Impella devices in the U. S.  and Europe, partially offset by the increase in income tax provision for fiscal 2016 due to the fact that we had a full valuation allowance on most of our deferred tax assets prior to March 31, 2015, at which time most of the valuation allowance was reversed.
Our net income for fiscal 2015 included an income tax benefit of $84.9 million, primarily due to the release of our valuation allowance on certain of our deferred tax assets.
Liquidity and Capital Resources At March 31, 2017, our total cash, cash equivalents, and short and long-term marketable securities totaled $277.1 million, an increase of $64.0 million compared to $213.1 million at March 31, 2016.
The increase in our cash, cash equivalents, and short and long-term marketable securities was due primarily to positive cash flows from operations in fiscal 2017.
A summary of our cash flow activities is as follows:
## Table 1 ##
Cash Provided by Operating Activities For the year ended March 31, 2017, cash provided by operating activities consisted of net income of $52.1 million, adjustments for non-cash items of $57.7 million and cash provided from working capital of $5.3 million.
Our net income for fiscal 2017 was driven primarily to higher Impella product revenue due to greater utilization of our Impella devices in the U. S.  and Europe, partially
THE HERSHEY COMPANY NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) (amounts in thousands, except share data or if otherwise indicated) Interest Expense Net interest expense consists of the following:
## Table 2 ##
5.
DERIVATIVE INSTRUMENTS We are exposed to market risks arising principally from changes in foreign currency exchange rates, interest rates and commodity prices.
We use certain derivative instruments to manage these risks.
These include interest rate swaps to manage interest rate risk, foreign currency forward exchange contracts to manage foreign currency exchange rate risk, and commodities futures and options contracts to manage commodity market price risk exposures.
In entering into these contracts, we have assumed the risk that might arise from the possible inability of counterparties to meet the terms of their contracts.
We mitigate this risk by entering into exchanged-traded contracts with collateral posting requirements and/or by performing financial assessments prior to contract execution, conducting periodic evaluations of counterparty performance and maintaining a diverse portfolio of qualified counterparties.
We do not expect any significant losses from counterparty defaults.
Commodity Price Risk We enter into commodities futures and options contracts and other commodity derivative instruments to reduce the effect of future price fluctuations associated with the purchase of raw materials, energy requirements and transportation services.
We generally hedge commodity price risks for 3- to 24-month periods.
Our open commodity derivative contracts had a notional value of $693,463 as of December 31, 2018 and $405,288 as of December 31, 2017.
Derivatives used to manage commodity price risk are not designated for hedge accounting treatment.
Therefore, the changes in fair value of these derivatives are recorded as incurred within cost of sales.
As discussed in Note 12, we define our segment income to exclude gains and losses on commodity derivatives until the related inventory is sold, at which time the related gains and losses are reflected within segment income.
This enables us to continue to align the derivative gains and losses with the underlying economic exposure being hedged and thereby eliminate the mark-tomarket volatility within our reported segment income.
Foreign Exchange Price Risk We are exposed to foreign currency exchange rate risk related to our international operations, including non-functional currency intercompany debt and other non-functional currency transactions of certain subsidiaries.
Principal currencies hedged include the euro, Canadian dollar, Japanese yen, British pound, and Brazilian real.
We typically utilize foreign currency forward exchange contracts to hedge these exposures for periods ranging from 3 to 12 months.
The contracts are either designated as cash flow hedges or are undesignated.
The net notional amount of foreign exchange contracts accounted for as cash flow hedges was $29,458 at December 31, 2018 and $135,962 at December 31, 2017.
The effective portion of the changes in fair value on these contracts is recorded in other comprehensive income and reclassified into earnings in the same period in which the hedged transactions affect earnings.
The net notional amount of foreign exchange contracts that are not designated as accounting hedges was $11,072 at December 31, 2018 and $2,791 at December 31, 2017.
The change in fair value on these instruments is recorded directly in cost of sales or selling, marketing and administrative expense, depending on the nature of the underlying exposure.
Organic revenue growth and the percentage changes in revenue from currency and acquisitions are nonU.
S.  GAAP measures.
See the subsection above titled “Effects of Certain Factors on Results of Operations” for a description of the calculation of the percentage change in revenue resulting from changes in foreign currency exchange rates.
The percentage change in revenue resulting from acquisitions represents incremental revenues attributable to acquisitions that have occurred since the beginning of the prior year period.
Total Company.
The following table presents revenue by operating segment:
## Table 3 ##
Companion Animal Group.
The following table presents revenue by product and service category for CAG:
## Table 4 ##
The increase in CAG Diagnostics recurring revenue is due primarily to increased volumes and higher realized prices in both our reference laboratory diagnostic services and our VetLab consumables.
VetLab consumables revenue growth was due to higher unit volumes and higher realized prices.
The increase in unit volumes resulted primarily from growth of our installed base for our Catalyst Dx and ProCyte Dx instruments as a result of customer acquisitions, as well as an increase in testing from existing customers who upgraded to these instruments, partially offset by lower sales of consumables used with our VetTest chemistry instrument.
Higher realized prices were the result of changes in certain distributor arrangements and list price increases.
The impact of changes in distributors’ inventory levels reduced reported consumables revenue growth by approximately 1%.
VetLab service and accessories revenue growth was primarily a result of the increase in our active installed base of instruments.
The increase in rapid assay product revenue was due primarily to both higher unit volumes and higher realized prices resulting from price increases and a change in a distributor arrangement.
Higher sales volumes were driven by an increase in U. S.  canine practice-level sales volumes and increased volumes of our canine pancreatitis products.
The impact of changes in distributors’ inventory levels did not have a significant impact on revenue growth.

Tables referenced above, in order (Table 0 first):
<table><tr><td>Year Ended March 31,</td><td>Potential Dilutive Shares from Exercise of Common Stock Options</td></tr><tr><td>2004</td><td>222,593</td></tr><tr><td>2005</td><td>980,147</td></tr><tr><td>2006</td><td>577,845</td></tr></table>
<table><tr><td></td><td colspan="3">For the Year Ended March 31,</td></tr><tr><td></td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>Net cash provided by operating activities</td><td>$115,116</td><td>$76,795</td><td>$43,290</td></tr><tr><td>Net cash used for investing activities</td><td>-126,333</td><td>-57,710</td><td>-49,863</td></tr><tr><td>Net cash provided by financing activities</td><td>3,867</td><td>7,160</td><td>9,523</td></tr><tr><td>Effect of exchange rate changes on cash</td><td>-1,841</td><td>-415</td><td>-1,465</td></tr><tr><td>Net (decrease) increase in cash and cash equivalents</td><td>$-9,191</td><td>$25,830</td><td>$1,485</td></tr></table>
<table><tr><td>For the years ended December 31,</td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>Interest expense</td><td>$151,950</td><td>$104,232</td><td>$97,851</td></tr><tr><td>Capitalized interest</td><td>- 5,092</td><td>- 4,166</td><td>- 5,903</td></tr><tr><td>Interest expense</td><td>146,858</td><td>100,066</td><td>91,948</td></tr><tr><td>Interest income</td><td>- 8,021</td><td>- 1,784</td><td>- 1,805</td></tr><tr><td>Interest expense, net</td><td>$138,837</td><td>$98,282</td><td>$90,143</td></tr></table>
<table><tr><td>Net Revenue</td><td rowspan="2">For the Year Ended December 31, 2013</td><td rowspan="2">For the Year Ended December 31, 2012</td><td rowspan="2">Dollar Change</td><td rowspan="2">Percentage Change</td><td rowspan="2">Percentage Change from Currency</td><td rowspan="2">Percentage Change from Acquisitions</td><td rowspan="2">Organic Revenue Growth</td></tr><tr><td>(dollars in thousands)</td></tr><tr><td>CAG</td><td>$1,150,169</td><td>$1,072,211</td><td>$77,958</td><td>7.3%</td><td>-0.8%</td><td>0.3%</td><td>7.8%</td></tr><tr><td>Water</td><td>87,959</td><td>84,680</td><td>3,279</td><td>3.9%</td><td>-0.6%</td><td>0.3%</td><td>4.2%</td></tr><tr><td>LPD</td><td>113,811</td><td>111,308</td><td>2,503</td><td>2.2%</td><td>0.2%</td><td>2.6%</td><td>-0.6%</td></tr><tr><td>Other</td><td>25,119</td><td>25,139</td><td>-20</td><td>-0.1%</td><td>0.1%</td><td>-</td><td>-0.2%</td></tr><tr><td>Total</td><td>$1,377,058</td><td>$1,293,338</td><td>$83,720</td><td>6.5%</td><td>-0.7%</td><td>0.5%</td><td>6.7%</td></tr></table>
<table><tr><td>Net Revenue</td><td rowspan="2">For the Year Ended December 31, 2013</td><td rowspan="2">For the Year Ended December 31, 2012</td><td rowspan="2">Dollar Change</td><td rowspan="2">Percentage Change</td><td rowspan="2">Percentage Change from Currency</td><td rowspan="2">Percentage Change from Acquisitions</td><td rowspan="2">Organic Revenue Growth</td></tr><tr><td>(dollars in thousands)</td></tr><tr><td>CAG Diagnostics recurring revenue:</td><td>$974,004</td><td>$896,449</td><td>$77,555</td><td>8.7%</td><td>-0.8%</td><td>0.1%</td><td>9.4%</td></tr><tr><td>VetLab consumables</td><td>311,359</td><td>278,818</td><td>32,541</td><td>11.7%</td><td>-0.7%</td><td>-</td><td>12.4%</td></tr><tr><td>VetLab service and accessories</td><td>51,891</td><td>48,056</td><td>3,835</td><td>8.0%</td><td>-2.5%</td><td>-</td><td>10.5%</td></tr><tr><td>Rapid assay products</td><td>169,547</td><td>162,232</td><td>7,315</td><td>4.5%</td><td>-0.7%</td><td>-</td><td>5.2%</td></tr><tr><td>Reference laboratory diagnostic and consulting services</td><td>441,207</td><td>407,343</td><td>33,864</td><td>8.3%</td><td>-0.8%</td><td>0.3%</td><td>8.8%</td></tr><tr><td>CAG Diagnostics capital - VetLab instruments</td><td>83,374</td><td>90,177</td><td>-6,803</td><td>-7.5%</td><td>-1.5%</td><td>-</td><td>-6.0%</td></tr><tr><td>Customer information management and digital imaging systems</td><td>92,791</td><td>85,585</td><td>7,206</td><td>8.4%</td><td>-0.3%</td><td>3.1%</td><td>5.6%</td></tr><tr><td>Net CAG revenue</td><td>$1,150,169</td><td>$1,072,211</td><td>$77,958</td><td>7.3%</td><td>-0.8%</td><td>0.3%</td><td>7.8%</td></tr></table>

Question: at march 31 , 2006 , how much loss could be recognized if they sold the held-to-maturity investment portfolio?
Answer: 99000
Reasoning program: subtract(29669000,29570000)