Packaging Corporation of America Notes to Consolidated Financial Statements (Continued) December 31, 2006 F-17 4.
STOCK-BASED COMPENSATION (Continued)same periodwas $1,988,000 lower, than ifit hadcontinued to account for share-based compensation underAPB No.25.
Basic anddiluted earnings per sharefor theyear ended December 31,2006 wereboth$0.02lower thanif the Company had continued to accountfor share-based compensation underAPB No.25.
Prior to the adoption of SFAS No.123(R), the Company presentedall tax benefits of deductions resulting fromshare-basedpayment arrangements as operatingcash flows in the Statements of CashFlows.
SFAS No.123(R) requires the cash flows resultingfrom thetax benefits fromtax deductions inexcess of thecompensation costrecognized for those share awards (excess tax benefits) to be classified asfinancing cash flows.
The excess taxbenefitof $2,885,000 classified as a financing cash inflow for the yearended December 31,2006would have been classified asanoperatingcash inflowif the Company hadnot adopted SFAS No.123(R).
As a result ofadopting SFAS No 123(R), unearned compensation previously recorded instockholders’ equity was reclassified againstadditional paid in capital onJanuary 1, 2006.
All stock-based compensationexpense not recognized as of December 31, 2005 and compensationexpense related to post 2005grantsof stock options and amortization ofrestricted stock will be recorded directlytoadditional paid in capital.
Compensation expense for stockoptions andrestricted stockrecognizedin theStatements of Incomefor the year endedDecember 31, 2006, 2005 and 2004 was asfollows:
## Table 0 ##
may not be indicative of the actual exit price if we had sold the investment at the measurement date.
Other sources of liquidity, primarily from operating cash flows and our commercial paper program, which is supported by our bank credit facilities, reduce the need to sell investments during adverse market conditions.
See Note 4 of Notes to the Consolidated Financial Statements included in Item 8, “Financial Statements” for further detail concerning our fair value measurements.
Our cash, cash equivalent and available-for-sale debt portfolio had a weighted-average duration of 2.5 years.
Our available-for-sale debt portfolio had a weightedaverage duration of 3.6 years and a weighted-average credit rating of “AA” as of December 31, 2013.
Included in the debt securities balance was $1.4 billion of state and municipal obligations that are guaranteed by a number of third parties.
Due to the high underlying credit ratings of the issuers, the weighted-average credit rating of these securities with and without the guarantee was “AA” as of December 31, 2013.
We do not have any significant exposure to any single guarantor (neither indirect through the guarantees, nor direct through investment in the guarantor).
When multiple credit ratings are available for an individual security, the average of the available ratings is used to determine the weighted-average credit rating.
CAPITAL RESOURCES AND USES OF LIQUIDITY In addition to cash flow from operations and cash and cash equivalent balances available for general corporate use, our capital resources and uses of liquidity are as follows: Commercial Paper.
We maintain a $4.0 billion commercial paper borrowing program, which facilitates the private placement of unsecured debt through third-party brokerdealers.
The commercial paper program is supported by the bank credit facilities described below.
As of December 31, 2013, we had $1.1 billion of commercial paper outstanding at a weighted-average annual interest rate of 0.2%.
Bank Credit Facilities.
We have $3.0 billion five-year and $1.0 billion 364-day revolving bank credit facilities with 23 banks, which mature in November 2018 and November 2014, respectively.
These facilities provide liquidity support for our commercial paper program and are available for general corporate purposes.
There were no amounts outstanding under these facilities as of December 31, 2013.
The interest rates on borrowings are variable depending on term and are calculated based on the LIBOR plus a credit spread based on our senior unsecured credit ratings.
As of December 31, 2013, the annual interest rates on both bank credit facilities, had they been drawn, would have ranged from 1.0% to 1.2%.
Our bank credit facilities contain various covenants, including covenants requiring us to maintain a debt to debt-plus-equity ratio of not more than 50%.
Our debt to debt-plus-equity ratio, calculated as the sum of debt divided by the sum of debt and shareholders’ equity, which reasonably approximates the actual covenant ratio, was 34.4% as of December 31, 2013.
We were in compliance with our debt covenants as of December 31, 2013.
Long-term Debt.
Periodically, we access capital markets and issue long-term debt for general corporate purposes, for example, to meet our working capital requirements, to refinance debt, to finance acquisitions or for share repurchases.
In February 2013, we issued $2.25 billion in senior unsecured notes, which included: $250 million of floatingrate notes due August 2014, $500 million of 1.625% fixedrate notes due March 2019, $750 million of 2.875% fixedrate notes due March 2023 and $750 million of 4.250% fixed-rate notes due March 2043.
In March and April of 2013, we redeemed all of our outstanding subsidiary variable rate debt for $619 million.
Credit Ratings.
Our credit ratings at December 31, 2013 were as follows:
## Table 1 ##
The availability of financing in the form of debt or equity is influenced by many factors, including our profitability, operating cash flows, debt levels, credit ratings, debt covenants and other contractual restrictions, regulatory requirements and economic and market conditions.
For example, a significant downgrade in our credit ratings or conditions in the capital markets may increase the cost of borrowing for us or limit our access to capital.
We have adopted strategies and actions toward maintaining financial flexibility to mitigate the impact of such factors on our ability to raise capital.
Share Repurchase Program.
Under our Board of Directors’ authorization, we maintain a share repurchase program.
The objectives of the share repurchase program are to optimize our capital structure and cost of capital, thereby improving returns to shareholders, as well as to offset the dilutive impact of share-based awards.
Repurchases may be made from time to time in open market purchases or other types of transactions (including structured share repurchase programs), subject to certain Board restrictions.
In June 2013, our Board renewed and expanded our share repurchase program with an authorization to repurchase up to 110 million shares of our common stock.
As of December 31, 2013, we had Board authorization to purchase up to an additional 83 million shares of our common stock.
UnitedHealthcare The following table summarizes UnitedHealthcare revenues by business:
## Table 2 ##
The following table summarizes the number of individuals served by our UnitedHealthcare businesses, by major market segment and funding arrangement:
## Table 3 ##
Growth in services to the public sector, mid-sized employers, small groups and individuals led the overall increase in people served through risk-based benefit plans in the commercial market.
Medicare Advantage increased year-over-year due to growth in people served through individual and employer-sponsored group Medicare Advantage plans.
Medicaid growth was driven by the combination of new state-based awards and growth in established programs.
Medicare Supplement growth reflected strong customer retention and new sales.
UnitedHealthcare’s revenue increase was due to growth in the number of individuals served across its businesses and price increases for underlying medical cost trends.
The increase in UnitedHealthcare’s operating earnings was due to diversified growth, offset by guaranty fund assessments recorded in the fourth quarter of 2016.
For more information on these assessments, see Note 12 of Notes to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements.
” Operating earnings in 2015 included the establishment of premium deficiency reserves for 2016, primarily for individual ACA compliant business.
Financial Condition As of December 31, 2016, our cash, cash equivalent and available-for-sale investment balances of $36.7 billion included $10.4 billion of cash and cash equivalents (of which approximately $700 million was available for general corporate use), $24.2 billion of debt securities and $2.0 billion of investments in equity securities consisting of investments in non-U.
S.  dollar fixed-income funds; employee savings plan related investments; venture capital funds; and dividend paying stocks.
Given the significant portion of our portfolio held in cash equivalents, we do not anticipate fluctuations in the aggregate fair value of our financial assets to have a material impact on our liquidity or capital position.
Other sources of liquidity, primarily from operating cash flows and our commercial paper program, which is supported by our bank credit facilities, reduce the need to sell investments during adverse market conditions.
See Note 4 of Notes to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements” for further detail concerning our fair value measurements.
Our available-for-sale debt portfolio had a weighted-average duration of 3.3 years and a weighted-average credit rating of “AA” as of December 31, 2016.
When multiple credit ratings are available for an individual security, the average of the available ratings is used to determine the weighted-average credit rating.
Capital Resources and Uses of Liquidity In addition to cash flows from operations and cash and cash equivalent balances available for general corporate use, our capital resources and uses of liquidity are as follows: Commercial Paper and Bank Credit Facilities.
Our revolving bank credit facilities provide liquidity support for our commercial paper borrowing program, which facilitates the private placement of senior unsecured debt through third-party broker-dealers, and are available for general corporate purposes.
For more information on our commercial paper and bank credit facilities, see Note 8 of Notes to the Consolidated Financial Statements included in Part II, Item 8, “Financial Statements.
” Our revolving bank credit facilities contain various covenants, including covenants requiring us to maintain a defined debt to debt-plus-shareholders’ equity ratio of not more than 55%.
As of December 31, 2016, our debt to debt-plus-shareholders’ equity ratio, as defined and calculated under the credit facilities was approximately 44%.
Long-Term Debt.
Periodically, we access capital markets to issue long-term debt for general corporate purposes, such as, to meet our working capital requirements, to refinance debt, to finance acquisitions or for share repurchases.
In February 2016, we issued debt to repay commercial paper borrowings, which were incurred for general corporate and working capital purposes, and to repay our 5.375% notes that were due March 15, 2016.
In December 2016, we issued debt to repay commercial paper borrowings, which were incurred for general corporate and working capital purposes.
For more information on these debt issuances, see Note 8 of Notes to the Consolidated Financial Statements included in Part II, Item 8 “Financial Statements.
” Credit Ratings.
Our credit ratings as of December 31, 2016 were as follows:
## Table 4 ##
The availability of financing in the form of debt or equity is influenced by many factors, including our profitability, operating cash flows, debt levels, credit ratings, debt covenants and other contractual restrictions, regulatory requirements and economic and market conditions.
For example, a significant downgrade in our credit ratings or adverse conditions in the capital markets may increase the cost of borrowing for us or limit our access to capital.
A reconciliation of the beginning and ending amount of unrecognized tax benefits as of December 31 is as follows:

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>Year Ended December 31,</td></tr><tr><td><i>(In thousands)</i></td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td>Stock options</td><td>$-3,273</td><td>$—</td><td>$—</td></tr><tr><td>Restricted stock</td><td>-2,789</td><td>-1,677</td><td>-663</td></tr><tr><td>Impact on income before income taxes</td><td>-6,062</td><td>-1,677</td><td>-663</td></tr><tr><td>Income tax benefit</td><td>2,382</td><td>661</td><td>260</td></tr><tr><td>Impact on net income</td><td>$-3,680</td><td>$-1,016</td><td>$-403</td></tr></table>
<table><tr><td></td><td colspan="2">Moody’s</td><td colspan="2">Standard & Poor’s</td><td colspan="2">Fitch</td><td colspan="2">A.M. Best</td></tr><tr><td></td><td>Ratings</td><td>Outlook</td><td>Ratings</td><td>Outlook</td><td>Ratings</td><td>Outlook</td><td>Ratings</td><td>Outlook</td></tr><tr><td>Senior unsecured debt</td><td>A3</td><td>Stable</td><td>A</td><td>Positive</td><td>A-</td><td>Stable</td><td>bbb+</td><td>Stable</td></tr><tr><td>Commercial paper</td><td>P-2</td><td>n/a</td><td>A-1</td><td>n/a</td><td>F1</td><td>n/a</td><td>AMB-2</td><td>n/a</td></tr></table>
<table><tr><td></td><td colspan="3">For the Years Ended December 31,</td><td colspan="2" rowspan="2"Change 2016 vs. 2015></td><td colspan="2" rowspan="2"Change 2015 vs. 2014></td></tr><tr><td>(in millions, except percentages)</td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>UnitedHealthcare Employer & Individual</td><td>$53,084</td><td>$47,194</td><td>$43,017</td><td>$5,890</td><td>12%</td><td>$4,177</td><td>10%</td></tr><tr><td>UnitedHealthcare Medicare & Retirement</td><td>56,329</td><td>49,735</td><td>46,258</td><td>6,594</td><td>13</td><td>3,477</td><td>8</td></tr><tr><td>UnitedHealthcare Community & State</td><td>32,945</td><td>28,911</td><td>23,586</td><td>4,034</td><td>14</td><td>5,325</td><td>23</td></tr><tr><td>UnitedHealthcare Global</td><td>6,223</td><td>5,503</td><td>6,937</td><td>720</td><td>13</td><td>-1,434</td><td>-21</td></tr><tr><td>Total UnitedHealthcare revenues</td><td>$148,581</td><td>$131,343</td><td>$119,798</td><td>$17,238</td><td>13%</td><td>$11,545</td><td>10%</td></tr></table>
<table><tr><td></td><td colspan="3">December 31,</td><td colspan="2" rowspan="2"Change 2016 vs. 2015></td><td colspan="2" rowspan="2"Change 2015 vs. 2014></td></tr><tr><td>(in thousands, except percentages)</td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>Commercial risk-based - group</td><td>7,470</td><td>7,095</td><td>6,765</td><td>375</td><td>5%</td><td>330</td><td>5%</td></tr><tr><td>Commercial risk-based - individual</td><td>1,350</td><td>1,190</td><td>740</td><td>160</td><td>13</td><td>450</td><td>61</td></tr><tr><td>Commercial fee-based</td><td>18,900</td><td>18,565</td><td>18,350</td><td>335</td><td>2</td><td>215</td><td>1</td></tr><tr><td>Fee-based TRICARE</td><td>2,860</td><td>2,880</td><td>2,895</td><td>-20</td><td>-1</td><td>-15</td><td>-1</td></tr><tr><td>Total commercial</td><td>30,580</td><td>29,730</td><td>28,750</td><td>850</td><td>3</td><td>980</td><td>3</td></tr><tr><td>Medicare Advantage</td><td>3,630</td><td>3,235</td><td>3,005</td><td>395</td><td>12</td><td>230</td><td>8</td></tr><tr><td>Medicaid</td><td>5,890</td><td>5,305</td><td>5,055</td><td>585</td><td>11</td><td>250</td><td>5</td></tr><tr><td>Medicare Supplement (Standardized)</td><td>4,265</td><td>4,035</td><td>3,750</td><td>230</td><td>6</td><td>285</td><td>8</td></tr><tr><td>Total public and senior</td><td>13,785</td><td>12,575</td><td>11,810</td><td>1,210</td><td>10</td><td>765</td><td>6</td></tr><tr><td>Total UnitedHealthcare - domestic medical</td><td>44,365</td><td>42,305</td><td>40,560</td><td>2,060</td><td>5</td><td>1,745</td><td>4</td></tr><tr><td>International</td><td>4,220</td><td>4,090</td><td>4,425</td><td>130</td><td>3</td><td>-335</td><td>-8</td></tr><tr><td>Total UnitedHealthcare - medical</td><td>48,585</td><td>46,395</td><td>44,985</td><td>2,190</td><td>5%</td><td>1,410</td><td>3%</td></tr><tr><td>Supplemental Data:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Medicare Part D stand-alone</td><td>4,930</td><td>5,060</td><td>5,165</td><td>-130</td><td>-3%</td><td>-105</td><td>-2%</td></tr></table>
<table><tr><td></td><td colspan="2">Moody’s</td><td colspan="2">Standard & Poor’s</td><td colspan="2">Fitch</td><td colspan="2">A.M. Best</td></tr><tr><td></td><td>Ratings</td><td>Outlook</td><td>Ratings</td><td>Outlook</td><td>Ratings</td><td>Outlook</td><td>Ratings</td><td>Outlook</td></tr><tr><td>Senior unsecured debt</td><td>A3</td><td>Negative</td><td>A+</td><td>Negative</td><td>A-</td><td>Negative</td><td>bbb+</td><td>Stable</td></tr><tr><td>Commercial paper</td><td>P-2</td><td>n/a</td><td>A-1</td><td>n/a</td><td>F1</td><td>n/a</td><td>AMB-2</td><td>n/a</td></tr></table>

Question: What's the average of Restricted stock of Year Ended December 31, 2006, and Medicare Advantage of December 31, 2015 ?
Answer: 3012
Reasoning program: add(2789.0,3235.0), divide(#0,const_2)