Table XII Selected Quarterly Financial Data
## Table 0 ##
(1) Excludes merger and restructuring charges and goodwill impairment charges.
(2) Due to a net loss applicable to common shareholders for the second quarter of 2011 and the fourth and third quarters of 2010, the impact of antidilutive equity instruments was excluded from diluted earnings (loss) per share and average diluted common shares.
(3) Calculated as total net income for four consecutive quarters divided by average assets for the period.
(4) Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures.
Other companies may define or calculate these measures differently.
For additional information on these ratios and corresponding reconciliations to GAAP financial measures, see Supplemental Financial Data on page 32 and Table XVII.
(5) For more information on the impact of the PCI loan portfolio on asset quality, see Consumer Portfolio Credit Risk Management on page 75 and Commercial Portfolio Credit Risk Management on page 88.
(6) Includes the allowance for loan and lease losses and the reserve for unfunded lending commitments.
(7) Balances and ratios do not include loans accounted for under the fair value option.
For additional exclusions on nonperforming loans, leases and foreclosed properties, see Nonperforming Consumer Loans and Foreclosed Properties Activity on page 86 and corresponding Table 36, and Nonperforming Commercial Loans, Leases and Foreclosed Properties Activity on page 94 and corresponding Table 45.
(8) Amounts included in allowance that are excluded from nonperforming loans primarily include amounts allocated to Card Services portfolio, PCI loans and the non-U.
S.  credit card portfolio in All Other.
n/m = not meaningful
Entergy Corporation and Subsidiaries Management’s Financial Discussion and Analysis amortized over a nine-year period beginning December 2015.
See Note 2 to the financial statements for further discussion of the business combination and customer credits.
The volume/weather variance is primarily due to the effect of more favorable weather during the unbilled period and an increase in industrial usage, partially offset by the effect of less favorable weather on residential sales.
The increase in industrial usage is primarily due to expansion projects, primarily in the chemicals industry, and increased demand from new customers, primarily in the industrial gases industry.
The Louisiana Act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the LPSC.
The tax savings resulted from the 2010-2011 IRS audit settlement on the treatment of the Louisiana Act 55 financing of storm costs for Hurricane Gustav and Hurricane Ike.
See Note 3 to the financial statements for additional discussion of the settlement and benefit sharing.
Included in Other is a provision of $23 million recorded in 2016 related to the settlement of the Waterford 3 replacement steam generator prudence review proceeding, offset by a provision of $32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the Waterford 3 replacement steam generator prudence review proceeding. ?
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 2016 to 2015.
## Table 1 ##
amortized over a nine-year period beginning December 2015.
See Note 2 to the financial statements for further discussion of the business combination and customer credits.
The volume/weather variance is primarily due to the effect of more favorable weather during the unbilled period and an increase in industrial usage, partially offset by the effect of less favorable weather on residential sales.
The increase in industrial usage is primarily due to expansion projects, primarily in the chemicals industry, and increased demand from new customers, primarily in the industrial gases industry.
The Louisiana Act 55 financing savings obligation variance results from a regulatory charge for tax savings to be shared with customers per an agreement approved by the LPSC.
The tax savings resulted from the 2010-2011 IRS audit settlement on the treatment of the Louisiana Act 55 financing of storm costs for Hurricane Gustav and Hurricane Ike.
See Note 3 to the financial statements for additional discussion of the settlement and benefit sharing.
Included in Other is a provision of $23 million recorded in 2016 related to the settlement of the Waterford 3 replacement steam generator prudence review proceeding, offset by a provision of $32 million recorded in 2015 related to the uncertainty at that time associated with the resolution of the Waterford 3 replacement steam generator prudence review proceeding. ?
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 2016 to 2015.
ITEM 7A.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK The Company has exposure to different types of market risk including changes in foreign currency rates, interest rates, stock prices and credit.
When deemed appropriate, the Company uses derivative financial instruments such as cross-currency interest rate swaps, interest rate swaps and foreign exchange contracts to hedge certain risk exposures.
The primary market risks managed by the Company through the use of derivative instruments include: ?
foreign currency exchange rate risk: arising primarily through Foxtel Debt Group borrowings denominated in U. S.  dollars; and ?
interest rate risk: arising from fixed and floating rate Foxtel Debt Group borrowings.
The Company neither holds nor issues financial instruments for trading purposes.
The following sections provide quantitative information on the Company’s exposure to foreign currency rate risk, interest rate risk and other relevant market risks.
The Company makes use of sensitivity analyses that are inherently limited in estimating actual losses in fair value that can occur from changes in market conditions.
Foreign Currency Exchange Rate Risk The Company conducts operations in three principal currencies: the U. S.  dollar; the Australian dollar; and the British pound sterling.
These currencies operate primarily as the functional currency for the Company’s U. S. , Australian and U. K.  operations, respectively.
Cash is managed centrally within each of the three regions with net earnings reinvested locally and working capital requirements met from existing liquid funds.
To the extent such funds are not sufficient to meet working capital requirements, funding in the appropriate local currencies is made available from intercompany capital.
The Company does not hedge its investments in the net assets of its Australian and U. K.  operations.
Because of fluctuations in exchange rates, the Company is subject to currency translation exposure on the results of its operations.
Foreign currency translation risk is the risk that exchange rate gains or losses arise from translating foreign entities’ statements of earnings and balance sheets from functional currency to the Company’s reporting currency (the U. S.  dollar) for consolidation purposes.
The Company does not hedge translation risk because it generally generates positive cash flows from its international operations that are typically reinvested locally.
Exchange rates with the most significant impact to its translation include the Australian dollar and British pound sterling.
As exchange rates fluctuate, translation of its Statements of Operations into U. S.  dollars affects the comparability of revenues and expenses between years.
The table below details the percentage of revenues and expenses by the three principal currencies for the fiscal years ended June 30, 2019 and 2018:
## Table 2 ##
Based on the year ended June 30, 2019, a one cent change in each of the U. S.  dollar/Australian dollar and the U. S.  dollar/British pound sterling exchange rates would have impacted revenues by approximately $58 million and $12 million, respectively, for each currency on an annual basis, and would have impacted Total Segment EBITDA by approximately $12 million and $1 million, respectively, on an annual basis.
drug substance manufactured at our Rhode Island facility.
If third-party formulation, fill and finish manufacturers are unable to provide sufficient capacity or are otherwise unable to provide services to us, the supply of ENBREL could be adversely affected materially.
Our marketed products face substantial competition and other companies may discover, develop, acquire or commercialize products before or more successfully than we do.
We operate in a highly competitive environment.
Our products compete with other products or treatments for diseases for which our products may be indicated.
For example, ENBREL competes in certain circumstances with products marketed by J&J, Abbott, Biogen, Barr, Genentech, BMS, Novartis and Sanofi-Aventis and others, as well as the generic drug methotrexate, and may face competition from other potential therapies being developed, including J&J’s CNTO 1275 (ustekinumab) and CNTO 148 (golimumab), Roche’s Actemra (tocilizumab) and UCB’s Cimzia?
(PEGylated anti-TNF).
Additionally, in the first quarter of 2008 Abbott received approval from the FDA to market HUMIRA?
as a treatment for adult patients with moderate to severe chronic plaque psoriasis and HUMIRA?
now competes with ENBREL in both the rheumatology and dermatology segments and ENBREL has experienced and continues to experience share loss to competitors.
The following table reflects companies and their currently marketed products that primarily compete with Aranesp?
in the United States and Europe in the supportive cancer care and nephrology segments, unless otherwise indicated:
## Table 3 ##
(1) In the United States, Aranesp?
competes with PROCRIT?
in the supportive cancer care and pre-dialysis settings.
(2) A subsidiary of J&J.
(3) Biosimilar product approved and launched in certain EU countries.
(4) Competes with Aranesp?
in the nephrology segment only.
(5) Shire announced in the second quarter of 2008 that it had decided to stop the commercialization of Dynepo?.
In addition to competition from the above-noted marketed products, a number of companies are developing products that could potentially compete with Aranesp?
and/or EPOGEN?
in the future.
Affymax and Takeda are co-developing Hematide?, an ESA for the treatment of anemia in renal patients.
FibroGen is developing FG-2216 and FG-4592, orally active ESAs, for the treatment of anemia and is also studying FG-4592 for the treatment in anemia of CKD.
Ratiopharm is developing a biosimilar ESA, EpoTheta, expected to launch in the EU in 2009.
Additionally in December 2008, Merck announced the formation of a new biotech division, Merck Bioventures, which is developing a pegylated ESA (MK-2578), which they have announced they expect to launch in 2012.
Further, if our currently marketed products are approved for new uses, or if we sell new products, or our competitors get new or expanded indications, we may face new, additional competition that we do not face today.
Further, adverse clinical developments for our current products could limit our ability to compete.
(See “— Our current products and products in development cannot be sold if we do not gain or maintain regulatory approval of our products and we may be required to perform additional clinical trials or change the labeling of our products or conduct other potentially limiting or costly risk management activities if we or others identify side effects or safety concerns after our products are on the market.
”) Our products may compete against products that have lower prices, equivalent or superior performance, are easier to administer or that are otherwise competitive with our products.
Level 2— Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.
‰ Level 3— Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value.
The Company determines the fair value of structured liabilities (where performance is linked to structured interest rates, inflation or currency risks) using the London Interbank Offer Rate (“LIBOR”) swap curve and forward interest and exchange rates at period end.
Such instruments are classified as Level 2 based on the observability of significant inputs to the model.
The Company does not have any instruments classified as Level 1 or Level 3, other than those included in pension asset trusts included in Note 14.
These valuations take into consideration the Company’s credit risk and its counterparties’ credit risk.
The estimated change in the fair value of these instruments due to such changes in its own credit risk (or instrumentspecific credit risk) was immaterial as of December 31, 2017.
The principal amounts and the estimated fair values of financial instruments at December 31 consisted of the following:
## Table 4 ##
(1) The carrying amount of cash and cash equivalents approximates fair value due to the short maturity of those instruments.
(2) The carrying amount of the Company’s credit facilities and bank overdrafts approximates fair value as the interest rate is reset frequently based on current market rates as well as the short maturity of those instruments.
(3) The fair value of the Company’s long-term debt was calculated using discounted cash flows applying current interest rates and current credit spreads based on its own credit risk.
Derivatives The Company periodically enters into foreign currency forward contracts with the objective of reducing exposure to cash flow volatility associated with its intercompany loans, foreign currency receivables and payables and anticipated purchases of certain raw materials used in operations.
These contracts generally involve the exchange of one currency for a second currency at a future date, have maturities not exceeding twelve months and are with counterparties which are major international financial institutions.
During the years ended December 31, 2017 and 2016, the Company entered into several forward currency contracts which qualified as net investment hedges, in order to mitigate a portion of its net European investments from foreign currency risk.
The effective portions of net investment hedges are recorded in other comprehensive income (“OCI”) as a component of Foreign currency translation adjustments in the accompanying Consolidated Statement of Income and Comprehensive Income.
Realized gains/(losses) are deferred in AOCI where they will
MetLife, Inc.  Notes to the Consolidated Financial Statements — (Continued) The table above does not include goodwill of $6.8 billion at December 31, 2010, associated with ALICO.
In the first quarter of 2011, the Company began reporting the results from its international operations in two separate segments to reflect a change in the manner in which the financial results are reviewed and evaluated by executive management.
Consequently, $5.2 billion and $1.8 billion of goodwill were allocated in 2011 to the reporting unit in the Japan segment and to reporting units in the Other International Regions segment, respectively, each net of the associated foreign currency translations.
See Note 2 for a description of acquisitions and dispositions.
As of November 1, 2011, American Life’s current and deferred income taxes were affected by measurement period adjustments, which resulted in a $39 million increase to the goodwill recorded as part of the Acquisition related to the Japan segment.
See Note 15.
During the third quarter of 2011, the Company began exploring the sale of MetLife Bank’s depository business.
As a result, in September 2011, the Company performed a goodwill impairment test on MetLife Bank, which was a separate reporting unit within Corporate & Other.
A comparison of the fair value of the reporting unit, using a market multiple approach, to its carrying value indicated a potential for goodwill impairment.
A further comparison of the implied fair value of the reporting unit’s goodwill with its carrying amount indicated that the entire amount of goodwill associated with MetLife Bank was impaired.
Consequently, the Company recorded a $65 million goodwill impairment charge that is reflected as a net investment loss for the year ended December 31, 2011.
In addition, the Company performed its annual goodwill impairment tests of its other reporting units during the third quarter of 2011 based upon data at June 30, 2011 and concluded that the fair values of all reporting units were in excess of their carrying values and, therefore, goodwill was not impaired.
Such tests are described in more detail in Note 1.
Based on the adverse economic conditions in 2011, which caused both equity markets and interest rates to decline, the Company assessed the need to update the annual impairment tests and identified only one reporting unit, Retirement Products, that warranted interim impairment testing.
The results of the testing indicated that goodwill for the Retirement Products reporting unit was not impaired.
Management continues to evaluate current market conditions that may affect the estimated fair value of these reporting units to assess whether any goodwill impairment exists.
Deteriorating or adverse market conditions for certain reporting units may have a significant impact on the estimated fair value of these reporting units and could result in future impairments of goodwill.8.
Insurance Insurance Liabilities Insurance liabilities were as follows
## Table 5 ##

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="4">2011 Quarters</td><td colspan="4">2010 Quarters</td></tr><tr><td>(In millions, except per share information)</td><td>Fourth</td><td>Third</td><td>Second</td><td>First</td><td>Fourth</td><td>Third</td><td>Second</td><td>First</td></tr><tr><td>Income statement</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net interest income</td><td>$10,701</td><td>$10,490</td><td>$11,246</td><td>$12,179</td><td>$12,439</td><td>$12,435</td><td>$12,900</td><td>$13,749</td></tr><tr><td>Noninterest income</td><td>14,187</td><td>17,963</td><td>1,990</td><td>14,698</td><td>9,959</td><td>14,265</td><td>16,253</td><td>18,220</td></tr><tr><td>Total revenue, net of interest expense</td><td>24,888</td><td>28,453</td><td>13,236</td><td>26,877</td><td>22,398</td><td>26,700</td><td>29,153</td><td>31,969</td></tr><tr><td>Provision for credit losses</td><td>2,934</td><td>3,407</td><td>3,255</td><td>3,814</td><td>5,129</td><td>5,396</td><td>8,105</td><td>9,805</td></tr><tr><td>Goodwill impairment</td><td>581</td><td>—</td><td>2,603</td><td>—</td><td>2,000</td><td>10,400</td><td>—</td><td>—</td></tr><tr><td>Merger and restructuring charges</td><td>101</td><td>176</td><td>159</td><td>202</td><td>370</td><td>421</td><td>508</td><td>521</td></tr><tr><td>All other noninterest expense<sup>-1</sup></td><td>18,840</td><td>17,437</td><td>20,094</td><td>20,081</td><td>18,494</td><td>16,395</td><td>16,745</td><td>17,254</td></tr><tr><td>Income (loss) before income taxes</td><td>2,432</td><td>7,433</td><td>-12,875</td><td>2,780</td><td>-3,595</td><td>-5,912</td><td>3,795</td><td>4,389</td></tr><tr><td>Income tax expense (benefit)</td><td>441</td><td>1,201</td><td>-4,049</td><td>731</td><td>-2,351</td><td>1,387</td><td>672</td><td>1,207</td></tr><tr><td>Net income (loss)</td><td>1,991</td><td>6,232</td><td>-8,826</td><td>2,049</td><td>-1,244</td><td>-7,299</td><td>3,123</td><td>3,182</td></tr><tr><td>Net income (loss) applicable to common shareholders</td><td>1,584</td><td>5,889</td><td>-9,127</td><td>1,739</td><td>-1,565</td><td>-7,647</td><td>2,783</td><td>2,834</td></tr><tr><td>Average common shares issued and outstanding</td><td>10,281</td><td>10,116</td><td>10,095</td><td>10,076</td><td>10,037</td><td>9,976</td><td>9,957</td><td>9,177</td></tr><tr><td>Average diluted common shares issued and outstanding<sup>-2</sup></td><td>11,125</td><td>10,464</td><td>10,095</td><td>10,181</td><td>10,037</td><td>9,976</td><td>10,030</td><td>10,005</td></tr><tr><td>Performance ratios</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Return on average assets</td><td>0.36%</td><td>1.07%</td><td>n/m</td><td>0.36%</td><td>n/m</td><td>n/m</td><td>0.50%</td><td>0.51%</td></tr><tr><td>Four quarter trailing return on average assets<sup>-3</sup></td><td>0.06</td><td>n/m</td><td>n/m</td><td>n/m</td><td>n/m</td><td>n/m</td><td>0.21</td><td>0.21</td></tr><tr><td>Return on average common shareholders’ equity</td><td>3.00</td><td>11.40</td><td>n/m</td><td>3.29</td><td>n/m</td><td>n/m</td><td>5.18</td><td>5.73</td></tr><tr><td>Return on average tangible common shareholders’ equity<sup>-4</sup></td><td>4.72</td><td>18.30</td><td>n/m</td><td>5.28</td><td>n/m</td><td>n/m</td><td>9.19</td><td>9.79</td></tr><tr><td>Return on average tangible shareholders’ equity<sup>-4</sup></td><td>5.20</td><td>17.03</td><td>n/m</td><td>5.54</td><td>n/m</td><td>n/m</td><td>8.98</td><td>9.55</td></tr><tr><td>Total ending equity to total ending assets</td><td>10.81</td><td>10.37</td><td>9.83%</td><td>10.15</td><td>10.08%</td><td>9.85%</td><td>9.85</td><td>9.80</td></tr><tr><td>Total average equity to total average assets</td><td>10.34</td><td>9.66</td><td>10.05</td><td>9.87</td><td>9.94</td><td>9.83</td><td>9.36</td><td>9.14</td></tr><tr><td>Dividend payout</td><td>6.60</td><td>1.73</td><td>n/m</td><td>6.06</td><td>n/m</td><td>n/m</td><td>3.63</td><td>3.57</td></tr><tr><td>Per common share data</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Earnings (loss)</td><td>$0.15</td><td>$0.58</td><td>$-0.90</td><td>$0.17</td><td>$-0.16</td><td>$-0.77</td><td>$0.28</td><td>$0.28</td></tr><tr><td>Diluted earnings (loss)<sup>(2)</sup></td><td>0.15</td><td>0.56</td><td>-0.90</td><td>0.17</td><td>-0.16</td><td>-0.77</td><td>0.27</td><td>0.28</td></tr><tr><td>Dividends paid</td><td>0.01</td><td>0.01</td><td>0.01</td><td>0.01</td><td>0.01</td><td>0.01</td><td>0.01</td><td>0.01</td></tr><tr><td>Book value</td><td>20.09</td><td>20.80</td><td>20.29</td><td>21.15</td><td>20.99</td><td>21.17</td><td>21.45</td><td>21.12</td></tr><tr><td>Tangible book value<sup>-4</sup></td><td>12.95</td><td>13.22</td><td>12.65</td><td>13.21</td><td>12.98</td><td>12.91</td><td>12.14</td><td>11.70</td></tr><tr><td>Market price per share of common stock</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Closing</td><td>$5.56</td><td>$6.12</td><td>$10.96</td><td>$13.33</td><td>$13.34</td><td>$13.10</td><td>$14.37</td><td>$17.85</td></tr><tr><td>High closing</td><td>7.35</td><td>11.09</td><td>13.72</td><td>15.25</td><td>13.56</td><td>15.67</td><td>19.48</td><td>18.04</td></tr><tr><td>Low closing</td><td>4.99</td><td>6.06</td><td>10.50</td><td>13.33</td><td>10.95</td><td>12.32</td><td>14.37</td><td>14.45</td></tr><tr><td>Market capitalization</td><td>$58,580</td><td>$62,023</td><td>$111,060</td><td>$135,057</td><td>$134,536</td><td>$131,442</td><td>$144,174</td><td>$179,071</td></tr><tr><td>Average balance sheet</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total loans and leases</td><td>$932,898</td><td>$942,032</td><td>$938,513</td><td>$938,966</td><td>$940,614</td><td>$934,860</td><td>$967,054</td><td>$991,615</td></tr><tr><td>Total assets</td><td>2,207,567</td><td>2,301,454</td><td>2,339,110</td><td>2,338,538</td><td>2,370,258</td><td>2,379,397</td><td>2,494,432</td><td>2,516,590</td></tr><tr><td>Total deposits</td><td>1,032,531</td><td>1,051,320</td><td>1,035,944</td><td>1,023,140</td><td>1,007,738</td><td>973,846</td><td>991,615</td><td>981,015</td></tr><tr><td>Long-term debt</td><td>389,557</td><td>420,273</td><td>435,144</td><td>440,511</td><td>465,875</td><td>485,588</td><td>497,469</td><td>513,634</td></tr><tr><td>Common shareholders’ equity</td><td>209,324</td><td>204,928</td><td>218,505</td><td>214,206</td><td>218,728</td><td>215,911</td><td>215,468</td><td>200,380</td></tr><tr><td>Total shareholders’ equity</td><td>228,235</td><td>222,410</td><td>235,067</td><td>230,769</td><td>235,525</td><td>233,978</td><td>233,461</td><td>229,891</td></tr><tr><td>Asset quality<sup>-5</sup></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Allowance for credit losses<sup>-6</sup></td><td>$34,497</td><td>$35,872</td><td>$38,209</td><td>$40,804</td><td>$43,073</td><td>$44,875</td><td>$46,668</td><td>$48,356</td></tr><tr><td>Nonperforming loans, leases and foreclosed properties<sup>-7</sup></td><td>27,708</td><td>29,059</td><td>30,058</td><td>31,643</td><td>32,664</td><td>34,556</td><td>35,598</td><td>35,925</td></tr><tr><td>Allowance for loan and lease losses as a percentage of total loans and leases outstanding<sup>-7</sup></td><td>3.68%</td><td>3.81%</td><td>4.00%</td><td>4.29%</td><td>4.47%</td><td>4.69%</td><td>4.75%</td><td>4.82%</td></tr><tr><td>Allowance for loan and lease losses as a percentage of total nonperforming loans and leases<sup>-7</sup></td><td>135</td><td>133</td><td>135</td><td>135</td><td>136</td><td>135</td><td>137</td><td>139</td></tr><tr><td>Allowance for loan and lease losses as a percentage of total nonperforming loans and leases excluding the purchased credit-impaired loan portfolio<sup>-6</sup></td><td>101</td><td>101</td><td>105</td><td>108</td><td>116</td><td>118</td><td>121</td><td>124</td></tr><tr><td>Amounts included in allowance that are excluded from nonperforming loans<sup>-8</sup></td><td>$17,490</td><td>$18,317</td><td>$19,935</td><td>$22,110</td><td>$22,908</td><td>$23,661</td><td>$24,338</td><td>$26,199</td></tr><tr><td>Allowance as a percentage of total nonperforming loans and leases excluding the amounts included in the allowance that are excluded from nonperforming loans<sup>-8</sup></td><td>65%</td><td>63%</td><td>63%</td><td>60%</td><td>62%</td><td>62%</td><td>63%</td><td>61%</td></tr><tr><td>Net charge-offs</td><td>$4,054</td><td>$5,086</td><td>$5,665</td><td>$6,028</td><td>$6,783</td><td>$7,197</td><td>$9,557</td><td>$10,797</td></tr><tr><td>Annualized net charge-offs as a percentage of average loans and leases outstanding<sup>-7</sup></td><td>1.74%</td><td>2.17%</td><td>2.44%</td><td>2.61%</td><td>2.87%</td><td>3.07%</td><td>3.98%</td><td>4.44%</td></tr><tr><td>Nonperforming loans and leases as a percentage of total loans and leases outstanding<sup>-7</sup></td><td>2.74</td><td>2.87</td><td>2.96</td><td>3.19</td><td>3.27</td><td>3.47</td><td>3.48</td><td>3.46</td></tr><tr><td>Nonperforming loans, leases and foreclosed properties as a percentage of total loans, leases and foreclosed properties<sup>-7</sup></td><td>3.01</td><td>3.15</td><td>3.22</td><td>3.40</td><td>3.48</td><td>3.71</td><td>3.73</td><td>3.69</td></tr><tr><td>Ratio of the allowance for loan and lease losses at period end to annualized net charge-offs</td><td>2.10</td><td>1.74</td><td>1.64</td><td>1.63</td><td>1.56</td><td>1.53</td><td>1.18</td><td>1.07</td></tr><tr><td>Capital ratios (period end)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Risk-based capital:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Tier 1 common</td><td>9.86%</td><td>8.65%</td><td>8.23%</td><td>8.64%</td><td>8.60%</td><td>8.45%</td><td>8.01%</td><td>7.60%</td></tr><tr><td>Tier 1</td><td>12.40</td><td>11.48</td><td>11.00</td><td>11.32</td><td>11.24</td><td>11.16</td><td>10.67</td><td>10.23</td></tr><tr><td>Total</td><td>16.75</td><td>15.86</td><td>15.65</td><td>15.98</td><td>15.77</td><td>15.65</td><td>14.77</td><td>14.47</td></tr><tr><td>Tier 1 leverage</td><td>7.53</td><td>7.11</td><td>6.86</td><td>7.25</td><td>7.21</td><td>7.21</td><td>6.68</td><td>6.44</td></tr><tr><td>Tangible equity<sup>-4</sup></td><td>7.54</td><td>7.16</td><td>6.63</td><td>6.85</td><td>6.75</td><td>6.54</td><td>6.14</td><td>6.02</td></tr><tr><td>Tangible common equity<sup>-4</sup></td><td>6.64</td><td>6.25</td><td>5.87</td><td>6.10</td><td>5.99</td><td>5.74</td><td>5.35</td><td>5.22</td></tr></table>
<table><tr><td></td><td>Amount (In Millions)</td></tr><tr><td>2015 net revenue</td><td>$1,666</td></tr><tr><td>Nuclear realized price changes</td><td>-149</td></tr><tr><td>Rhode Island State Energy Center</td><td>-44</td></tr><tr><td>Nuclear volume</td><td>-36</td></tr><tr><td>FitzPatrick reimbursement agreement</td><td>41</td></tr><tr><td>Nuclear fuel expenses</td><td>68</td></tr><tr><td>Other</td><td>-4</td></tr><tr><td>2016 net revenue</td><td>$1,542</td></tr></table>
<table><tr><td></td><td>U.S. Dollars</td><td>Australian Dollars</td><td> British Pound Sterling</td></tr><tr><td> Fiscal year ended June 30, 2019</td><td></td><td></td><td></td></tr><tr><td>Revenues</td><td>39%</td><td>41%</td><td>16%</td></tr><tr><td>Operating and Selling, general and administrative expenses</td><td>40%</td><td>38%</td><td>17%</td></tr><tr><td> Fiscal year ended June 30, 2018</td><td></td><td></td><td></td></tr><tr><td>Revenues</td><td>43%</td><td>34%</td><td>18%</td></tr><tr><td>Operating and Selling, general and administrative expenses</td><td>44%</td><td>31%</td><td>19%</td></tr></table>
<table><tr><td> Territory</td><td> Competitor Marketed Product</td><td> Competitor</td></tr><tr><td>U.S.</td><td>PROCRIT<sup>®</sup><sup>-1</sup></td><td>J&J</td></tr><tr><td>Europe</td><td>EPREX<sup>®</sup>/ERYPO<sup>®</sup></td><td>Janssen-Cilag<sup>-2</sup></td></tr><tr><td>Europe</td><td>NeoRecormon<sup>®</sup></td><td>Roche</td></tr><tr><td>Europe</td><td>Retacrit<sup>™</sup><sup>-3</sup>/Silapo<sup>®</sup><sup>(3)</sup></td><td>Hospira/Stada</td></tr><tr><td>Europe</td><td>Binocrit<sup>®</sup><sup>-3</sup>/Epoetin alfaHexal<sup>®</sup><sup>(3)</sup>/Abseamed<sup>®</sup><sup>(3)</sup></td><td>Sandoz/Hexal/Medice</td></tr><tr><td>Europe</td><td>MIRCERA<sup>®</sup><sup>-4</sup></td><td>Roche</td></tr><tr><td>Europe</td><td>Dynepo<sup>®</sup><sup>-5</sup></td><td>Shire</td></tr></table>
<table><tr><td></td><td colspan="2">2017</td><td colspan="2">2016</td></tr><tr><td>(DOLLARS IN THOUSANDS)</td><td>Principal</td><td>FairValue</td><td>Principal</td><td>FairValue</td></tr><tr><td>Cash and cash equivalents<sup>-1</sup></td><td>$368,046</td><td>$368,046</td><td>$323,992</td><td>$323,992</td></tr><tr><td>Credit facilities and bank overdrafts<sup>-2</sup></td><td>7,993</td><td>7,993</td><td>13,599</td><td>13,599</td></tr><tr><td>Long-term debt:<sup>-3</sup></td><td></td><td></td><td></td><td></td></tr><tr><td>Senior notes - 2007</td><td>250,000</td><td>293,232</td><td>500,000</td><td>556,222</td></tr><tr><td>Senior notes - 2013</td><td>300,000</td><td>304,219</td><td>300,000</td><td>302,376</td></tr><tr><td>Euro Senior notes - 2016</td><td>594,400</td><td>627,782</td><td>520,650</td><td>546,006</td></tr><tr><td>Senior notes - 2017</td><td>500,000</td><td>525,906</td><td>—</td><td>—</td></tr></table>
<table><tr><td></td><td colspan="2"> Future Policy Benefits</td><td colspan="2"> Policyholder Account Balances</td><td colspan="2"> Other Policy-Related Balances</td></tr><tr><td></td><td colspan="6"> December 31,</td></tr><tr><td></td><td> 2011</td><td> 2010</td><td> 2011</td><td> 2010</td><td> 2011</td><td> 2010</td></tr><tr><td></td><td colspan="6"> (In millions)</td></tr><tr><td>U.S. Business:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Insurance Products</td><td>$74,390</td><td>$72,936</td><td>$30,196</td><td>$29,407</td><td>$6,000</td><td>$5,831</td></tr><tr><td>Retirement Products</td><td>10,455</td><td>8,829</td><td>48,689</td><td>46,517</td><td>161</td><td>146</td></tr><tr><td>Corporate Benefit Funding</td><td>44,471</td><td>39,187</td><td>56,308</td><td>57,773</td><td>181</td><td>184</td></tr><tr><td>Auto & Home</td><td>3,101</td><td>3,036</td><td>—</td><td>—</td><td>44</td><td>171</td></tr><tr><td>Total U.S. Business</td><td>132,417</td><td>123,988</td><td>135,193</td><td>133,697</td><td>6,386</td><td>6,332</td></tr><tr><td>International:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Japan</td><td>26,659</td><td>23,083</td><td>58,195</td><td>53,161</td><td>5,212</td><td>5,311</td></tr><tr><td>Other International Regions</td><td>19,002</td><td>18,043</td><td>24,278</td><td>23,857</td><td>3,590</td><td>3,684</td></tr><tr><td>Total International</td><td>45,661</td><td>41,126</td><td>82,473</td><td>77,018</td><td>8,802</td><td>8,995</td></tr><tr><td>Corporate & Other</td><td>6,174</td><td>5,798</td><td>34</td><td>42</td><td>411</td><td>423</td></tr><tr><td>Total</td><td>$184,252</td><td>$170,912</td><td>$217,700</td><td>$210,757</td><td>$15,599</td><td>$15,750</td></tr></table>

Question: What is the average amount of All other noninterest expense of 2010 Quarters Second, and Credit facilities and bank overdrafts of 2016 FairValue ?
Answer: 15172
Reasoning program: add(16745.0,13599.0), divide(#0,const_2)