From December 29, 2005 to June 5, 2006, a third party intermediary was the legal owner of Crow Canyon Commons, but we controlled the property and retained all of the economic benefit and risk associated with the property.
Accordingly, we consolidated the property and its operations beginning December 29, 2005.
On October 16, 2006, we acquired the leasehold interest in Melville Mall under a 20 year master lease.
Additionally, we loaned the owner of Melville Mall $34.2 million secured by a second mortgage on the property.
We have an option to purchase the shopping center on or after October 16, 2021 for a price of $5.0 million plus the assumption of the first mortgage and repayment of the second mortgage.
We have determined that this property is held in a variable interest entity for which we are the primary beneficiary.
Accordingly, beginning October 16, 2006, we consolidated this property and its operations.
Consolidated Statements of Cash Flows – Supplemental Disclosures The following table provides additional information related to the Consolidated Statements of Cash Flows:
## Table 0 ##
(1) Cash paid for income taxes for 2006 includes $5.5 million related to the sales of condominiums at Santana Row which were conducted through a TRS.
New Accounting Pronouncements In July 2006, the Financial Accounting Standards Board (“FASB”) issued FASB Interpretation No.48 (“FIN 48”), “Accounting for Uncertainty in Income Taxes”—an interpretation of FASB Statement No.109, “Accounting for Income Taxes.
” FIN 48 was issued to reduce the diversity in practice associated with certain aspects of recognition, disclosure and measurement related to accounting for uncertain income tax positions.
We are required to adopt FIN 48 effective January 1, 2007.
We do not believe the adoption of FIN 48 will have a material impact on our financial position, results of operations or cash flows.
In September 2006, the Securities and Exchange Commission (SEC) issued Staff Accounting Bulletin No.108 (“SAB 108”), “Considering the Effects of Prior Year Misstatements in Current Year Financial Statements.
” SAB 108 was issued to provide consistency between how registrants quantify financial statements misstatements.
Historically, there have been two widely-used methods for quantifying the effects of financial statement misstatements.
These methods are commonly referred to as the “roll-over” method and “iron curtain” method.
The roll-over method quantifies the amount by which the current income statement is misstated.
The iron curtain quantifies the error as the cumulative amount by which the current year balance sheet is misstated.
SAB 108 establishes an approach that requires quantification of financial statement misstatements based on the effects of the misstatement on each the income statement, balance sheet and the related disclosures.
This approach is commonly referred to as the “dual approach.
” We adopted SAB 108 during the fourth quarter of 2006 in connection with the preparation of our annual financial statements for the year ending December 31, 2006.
The adoption of SAB 108 did not have a material impact on our financial positions, results of operations or cash flows.
In September 2006, the FASB issued SFAS No.157 “Fair Value Measurements.
” SFAS No.157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosures about fair value measurements.
SFAS No.157 applies to accounting pronouncements that require or permit fair value measurements, except for share-based payments under SFAS No.123R.
We are required to
(4) The revolving credit facility offers a one-year extension option.
The maximum amount drawn under the facility during 2006 was $297.0 million.
The weighted average effective interest rate on borrowings under our revolving credit facility, before amortization of debt fees, was 5.6% for the year ended December 31, 2006.
(5) The bonds require monthly interest only payments through maturity.
The bonds bear interest at a variable rate determined weekly, which would enable the bonds to be remarketed at 100% of their principal amount.
The property is not encumbered by a lien.
(6) We purchased an interest rate lock to hedge a planned note offering.
A hedge loss of $1.5 million associated with this hedge is being amortized into the note offering, thereby increasing the effective interest rate on these notes to 6.325%.
(7) Beginning on August 15, 2008, the debentures are redeemable by the holders thereof at the original purchase price of $1,000 per debenture.
(8) Beginning on August 1, 2007, the notes are redeemable by the holders thereof at the original purchase price of $1,000 per note.
Our credit facility and other debt agreements include financial and other covenants that may limit our operating activities in the future.
As of December 31, 2006, we were in compliance with all of the financial and other covenants.
If we were to breach any of our debt covenants and did not cure the breach within any applicable cure period, our lenders could require us to repay the debt immediately and, if the debt is secured, could immediately begin proceedings to take possession of the property securing the loan.
Many of our debt arrangements, including our public notes and our credit facility, are cross-defaulted, which means that the lenders under those debt arrangements can put us in default and require immediate repayment of their debt if we breach and fail to cure a covenant under certain of our other debt obligations.
As a result, any default under our debt covenants could have an adverse effect on our financial condition, our results of operations, our ability to meet our obligations and the market value of our shares.
Below are the aggregate principal payments required as of December 31, 2006 under our debt financing arrangements by year.
Scheduled principal installments and amounts due at maturity are included.
## Table 1 ##
Our organizational documents do not limit the level or amount of debt that we may incur.
(1) Includes $98 million outstanding under our revolving credit facility.
(2) Includes the Mount Vernon projected mortgage loan balance of $10.0 million as of April 15, 2013 that may be required to be paid on or after April 15, 2013.
Amount also includes $90 million of unsecured debt that may be called by the holders beginning August 1, 2007 as to $40 million thereof and beginning August 15, 2008 as to $50 million thereof.
(3) Total debt maturities differs from the total reported on the consolidated balance sheet due to unamortized discounts and premiums as of December 31, 2006.
Interest Rate Hedging We enter into interest rate swaps and treasury rate locks that qualify as cash flow hedges under SFAS No.133, “Accounting for Derivative Instruments and Hedging Activities.
” We generally enter into interest rate swaps to manage our exposure to variable interest rate risk and treasury locks to manage the risk of interest rates rising prior to the issuance of debt.
We do not purchase derivatives for speculation.
Our cash flow hedges are recorded at fair value.
The effective portion of changes in fair value of our cash flow hedges is recorded in other comprehensive income and reclassified to earnings when the hedged item affects earnings.
The ineffective portion of changes in fair value of our cash flow hedges is recognized in earnings in the period affected.
We
Adjusted net income of $4.6 billion translated into adjusted earnings of $5.79 per diluted share, a bestever performance.  ?
Freight Revenues – Our freight revenues increased 7% year-over-year to $19.8 billion driven by volume growth of 2%, higher fuel surcharge revenue, and core pricing gains.
Growth in frac sand, coal, and intermodal shipments more than offset declines in grain, crude oil, finished vehicles, and rock shipments.  ?
Fuel Prices – Our average price of diesel fuel in 2017 was $1.81 per gallon, an increase of 22% from 2016, as both crude oil and conversion spreads between crude oil and diesel increased in 2017.
The higher price resulted in increased operating expenses of $334 million (excluding any impact from yearover-year volume growth).
Gross-ton miles increased 5%, which also drove higher fuel expense.
Our fuel consumption rate, computed as gallons of fuel consumed divided by gross ton-miles in thousands, improved 2%.  ?
Free Cash Flow – Cash generated by operating activities totaled $7.2 billion, yielding free cash flow of $2.2 billion after reductions of $3.1 billion for cash used in investing activities and $2 billion in dividends, which included a 10% increase in our quarterly dividend per share from $0.605 to $0.665 declared and paid in the fourth quarter of 2017.
Free cash flow is defined as cash provided by operating activities less cash used in investing activities and dividends paid.
Free cash flow is not considered a financial measure under GAAP by SEC Regulation G and Item 10 of SEC Regulation S-K and may not be defined and calculated by other companies in the same manner.
We believe free cash flow is important to management and investors in evaluating our financial performance and measures our ability to generate cash without additional external financings.
Free cash flow should be considered in addition to, rather than as a substitute for, cash provided by operating activities.
The following table reconciles cash provided by operating activities (GAAP measure) to free cash flow (non-GAAP measure):
## Table 2 ##
2018 Outlook ?
Safety – Operating a safe railroad benefits all our constituents: our employees, customers, shareholders and the communities we serve.
We will continue using a multi-faceted approach to safety, utilizing technology, risk assessment, training and employee engagement, quality control, and targeted capital investments.
We will continue using and expanding the deployment of Total Safety Culture and Courage to Care throughout our operations, which allows us to identify and implement best practices for employee and operational safety.
We will continue our efforts to increase detection of rail defects; improve or close crossings; and educate the public and law enforcement agencies about crossing safety through a combination of our own programs (including risk assessment strategies), industry programs and local community activities across our network.  ?
Network Operations – In 2018, we will continue to align resources with customer demand, maintain an efficient network, and ensure surge capability of our assets.  ?
Fuel Prices – Fuel price projections for crude oil and natural gas continue to fluctuate in the current environment.
We again could see volatile fuel prices during the year, as they are sensitive to global and U. S.  domestic demand, refining capacity, geopolitical events, weather conditions and other factors.
As prices fluctuate, there will be a timing impact on earnings, as our fuel surcharge programs trail increases or decreases in fuel price by approximately two months.
Lower fuel prices could have a positive impact on the economy by increasing consumer discretionary spending that potentially could increase demand for various consumer products that we transport.
Alternatively, lower fuel prices could likely have a negative impact on other commodities such as coal and domestic drilling-related shipments.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td></td><td colspan="3">(In thousands)</td></tr><tr><td>SUPPLEMENTAL DISCLOSURES:</td><td></td><td></td><td></td></tr><tr><td>Total interest costs incurred</td><td>$106,877</td><td>$94,257</td><td>$90,179</td></tr><tr><td>Interest capitalized</td><td>-4,069</td><td>-5,691</td><td>-5,121</td></tr><tr><td>Interest expense</td><td>$102,808</td><td>$88,566</td><td>$85,058</td></tr><tr><td>Cash paid for interest</td><td>$92,054</td><td>$84,796</td><td>$80,614</td></tr><tr><td>Cash paid for income taxes</td><td>$5,979-1</td><td>$82</td><td>$181</td></tr><tr><td>NON-CASH FINANCING TRANSACTIONS:</td><td></td><td></td><td></td></tr><tr><td>Mortgage loans assumed with acquisitions</td><td>$44,297</td><td>$22,258</td><td>$—</td></tr></table>
<table><tr><td></td><td> Secured</td><td> Capital Leases</td><td> Unsecured</td><td></td><td> Total</td><td></td></tr><tr><td></td><td colspan="5"> (In thousands)</td><td></td></tr><tr><td>2007</td><td>$4,793</td><td>$1,315</td><td>$150,204</td><td></td><td>$156,312</td><td></td></tr><tr><td>2008</td><td>14,968</td><td>1,523</td><td>226</td><td></td><td>16,717</td><td></td></tr><tr><td>2009</td><td>9,973</td><td>1,722</td><td>175,250</td><td></td><td>186,945</td><td></td></tr><tr><td>2010</td><td>6,016</td><td>1,860</td><td>98,275</td><td>-1</td><td>106,151</td><td>-1</td></tr><tr><td>2011</td><td>43,244</td><td>2,009</td><td>75,304</td><td></td><td>120,557</td><td>-3</td></tr><tr><td>2012 and thereafter-2</td><td>232,079</td><td>140,932</td><td>734,765</td><td></td><td>1,107,776</td><td>-3</td></tr><tr><td></td><td>$311,073</td><td>$149,361</td><td>$1,234,024</td><td></td><td>$1,694,458</td><td></td></tr></table>
<table><tr><td>Millions</td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>Cash provided by operating activities</td><td>$7,230</td><td>$7,525</td><td>$7,344</td></tr><tr><td>Cash used in investing activities</td><td>-3,086</td><td>-3,393</td><td>-4,476</td></tr><tr><td>Dividends paid</td><td>-1,982</td><td>-1,879</td><td>-2,344</td></tr><tr><td>Free cash flow</td><td>$2,162</td><td>$2,253</td><td>$524</td></tr></table>

Question: what was the percentage change in free cash flow from 2016 to 2017?
Answer: -0.04039
Reasoning program: subtract(2162,2253), divide(#0,2253)