CITIZENS FINANCIAL GROUP, INC.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 134 The following table presents the net securities impairment losses recognized in earnings:
## Table 0 ##
The following tables present securities whose fair values are below carrying values, segregated by those that have been in a continuous unrealized loss position for less than twelve months and those that have been in a continuous unrealized loss position for twelve months or longer:
## Table 1 ##
December 31, 2016
## Table 2 ##
In January 2004, the Company began an option exchange program in which the Company ofered its employees the right to exchange all stock options (vested and unvested) under the 1999 Charter Communications Option Plan and 2001 Stock Incentive Plan that had an exercise price over S10 per share for shares of restricted Charter Class A common stock or, in some instances, cash.
Based on a sliding exchange ratio, which varied depending on the exercise price of an employees outstanding options, if an employee would have received more than 400 shares of restricted stock in exchange for tendered options, Charter issued that employee shares of restricted stock in the exchange.
If based on the exchange ratios, an employee would have received 400 or fewer shares of restricted stock in exchange for tendered options, Charter instead paid the employee cash in an amount equal to the number of shares the employee would have received multiplied by S5.00.
The offer applied to options (vested and unvested) to purchase a total of 22,929,573 shares of Class A common stock, or approximately 48% of the Company's 47,882,365 total options issued and outstanding as of December 31, 2003.
Participation by employ- ees was voluntary.
Those members of the Company's board of directors who were not also employees of the Company or any of its subsidiaries were not eligible to participate in the exchange offer.
In the closing of the exchange offer on February 20, 2004, the Company acepted for cancellation eligible options to purchase approximately 18,137,664 shares of is Class A com- mon stock.
In exchange, the Company granted 1.966,686 shares of restricted stock, induding 460,777 performance shares to eligible employes of the rank of senior vice president and above, and paid a total cash amount of approximately S4 million (which amount indudes applicable witholding taxes) to those employees who received cash rather than shares of restricted stock.
The restricted stock was granted on February 25, 2004.
Employees tendered approximately 79% of the options eligible to be exchanged under the program.
The cost to the Company of the stock option exchange program was approximately S10 million, with a 2004 cash compensation expense of approximately $4 million and a non- cash compensation expense of approximately $6 million to be expensed ratably over the three -year vesting period of the restricted stock in the exchange.
In January 2004, the Compensation Committee of the board of directors of Charter approved Charter's Long-Term Incentive Program ("LTIP"), which is a program administered under the 2001 Stock Incentive Plan.
Under the LTIP, employ- ees of Charter and is subsidiaries whose pay dassifications exceed a crtain level are eligible to receive stock options, and more senior level employees are eligible to receive stock options and performance shares.
The stock options vest 25% on each of the first four anniversaries of the date of grant.
The performance shares vest on the third anniversary of the grant date and shares of Charter Class A common stock are issued, conditional upon Charter's performance against financial performance measures established by Charter's management and approved by its board of directors as of the time of the award.
Charter granted 3.2 million and 6.9 million shares in 2005 and 2004, respectively, under this program and recognized expense of S1 million and $8 million in the first three quarters of 2005 and 2004, respectively.
Howewer, in the fourth quarter of 2005 and 2004, the Company reversed the entire S1 million and S8 million, respectively, of expense based on the Company's asssment of the probability of achieving the financial performance measures established by Charter and required to be met for the performance shares to vest.
In February 2006, the Compensation Committee approved a modification to the financial perform- ance measures required to be met for the performance shares to vest after which management believes that a approximately 2.5 million of the performance shares are likely to vest As such, expense of approximately S3 million will be amotized over the remaining two year service period.22.
HURRICANE ASSET RETIREMENT LOSS Certain of the Company's cable systems in Louisiana suffered significant plant damage as a result of hurricanes Katrina and Rita in September 2005.
As a result, the Company wrote of $19 million of its plants' net book value in the third quarter of 2005.23.
SPECIAL CHARGES In the fourth quarter of 2002, the Company began a workforce reduction program and consolidation of its operations from three divisions and ten regions into five operating divisions, eliminating redundant practices and streamlining is manage- ment structure.
The Company has recorded special charges as a result of reducing is workforce, executive severance and consolidating administrative offices in 2003, 2004 and 2005.
The activity associated with this initiative is summarized in the table below.
## Table 3 ##
For the year ended December 31, 2003, the severance and lease costs were offset by a S5 million settlement from the Internet service provider Excite@Home related to the conver- sion of high-speed Internet customers to Charter Pipeline service in 2001.
For the year ended December 31, 2004, special charges
?
free cash flow generation; and ?
return-on-invested capital.
The Company’s businesses use a set of growth, lean and leadership tools and processes, known as the DANAHER BUSINESS SYSTEM, which are designed to continuously improve business performance in the critical areas of quality, delivery, cost, growth and innovation.
Within the DBS framework, the Company pursues a number of ongoing strategic initiatives relating to idea generation, product development and commercialization, global sourcing of materials and services, manufacturing improvement and sales and marketing.
To further these objectives, the Company also acquires businesses that either strategically fit within its existing business portfolio or expand its portfolio into a new and attractive business area.
Given the rapid pace of technological development and the specialized expertise typical of Danaher’s served markets, acquisitions also provide the Company access to important new technologies and domain expertise.
Danaher believes there are many acquisition opportunities available within its targeted markets.
The extent to which Danaher consummates and effectively integrates appropriate acquisitions will affect its overall growth and operating results.
Danaher also continually assesses the strategic fit of its existing businesses and may dispose of businesses that are deemed not to fit with its strategic plan or are not achieving the desired return on investment.
Danaher Corporation, originally DMG, Inc. , was organized in 1969 as a Massachusetts real estate investment trust.
In 1978 it was reorganized as a Florida corporation under the name Diversified Mortgage Investors, Inc.  which in a second reorganization in 1980 became a subsidiary of a newly created holding company named DMG, Inc.  DMG, Inc.  adopted the name Danaher in 1984 and was reincorporated as a Delaware corporation in 1986.
On July 2, 2016 (the “Distribution Date”), Danaher completed the separation (the “Separation”) of its former Test & Measurement segment, Industrial Technologies segment (excluding the product identification businesses) and retail/commercial petroleum business by distributing to Danaher stockholders on a pro rata basis all of the issued and outstanding common stock of Fortive Corporation (“Fortive”), the entity Danaher incorporated to hold such businesses.
To effect the Separation, Danaher distributed to its stockholders one share of Fortive common stock for every two shares of Danaher common stock outstanding as of June 15, 2016, the record date for the distribution.
Sales in 2016 by geographic destination (geographic destination refers to the geographic area where the final sale to the Company’s customer is made) were: North America, 40% (including 38% in the United States); Europe, 28%; Asia/Australia, 24% and all other regions, 8%.
For additional information regarding sales by geography, refer to Note 19 to the Consolidated Financial Statements included in this Annual Report.
The spin-off of Fortive in the third quarter of 2016 changed the geographic mix of sales for Danaher, as the Fortive businesses realize a lower percentage of overall sales from outside North America than the Danaher businesses remaining after the Separation.
Reportable Segments The table below describes the percentage of total annual revenues attributable to each of the four segments over each of the last three years ended December 31, 2016.
For additional information regarding sales, operating profit and identifiable assets by segment, refer to Note 19 to the Consolidated Financial Statements included in this Annual Report.
Unless otherwise indicated, references to sales in this Annual Report refer to sales from continuing operations.
## Table 4 ##
LIFE SCIENCES The Company’s Life Sciences segment offers a broad range of research tools that scientists use to study the basic building blocks of life, including genes, proteins, metabolites and cells, in order to understand the causes of disease, identify new therapies and test new drugs and vaccines.
The segment, through its Pall Corporation (“Pall”) business, is also a leading provider of filtration, separation and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics and general industrial sectors.
Sales in 2016 for this segment by geographic destination were: North America, 35%; Europe, 31%; Asia/Australia, 28% and all other regions, 6%.
LTIP - The Company's Long Term Incentive Plans (LTIP) provide for the issuance of unrestricted stock to certain officers and key employees based on the attainment of certain goals relating to the Company's revenue growth, earnings per share growth and return on invested capital during the three-year performance period.
No dividends or dividend equivalents are paid on unearned shares.
## Table 5 ##
Under the Company's 2016-17-18 LTIP, a payout of unrestricted stock will be issued in April 2019.
The fair value of each LTIP award granted in 2018, 2017 and 2016 was based on the fair market value of the Company's common stock on the date of grant.
A summary of the status and changes of shares relating to the LTIP and the related average price per share follows:

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="3">Year Ended December 31,</td></tr><tr><td>(in millions)</td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>Other-than-temporary impairment:</td><td></td><td></td><td></td></tr><tr><td>Total other-than-temporary impairment losses</td><td>-$7</td><td>-$39</td><td>-$43</td></tr><tr><td>Portions of loss recognized in other comprehensive income (before taxes)</td><td>—</td><td>27</td><td>36</td></tr><tr><td>Net securities impairment losses recognized in earnings</td><td>-$7</td><td>-$12</td><td>-$7</td></tr></table>
<table><tr><td></td><td colspan="9">December 31, 2017</td></tr><tr><td></td><td colspan="3">Less than 12 Months</td><td colspan="3">12 Months or Longer</td><td colspan="3">Total</td></tr><tr><td>(dollars in millions)</td><td>Number of Issues</td><td>Fair Value</td><td>Gross Unrealized Losses</td><td>Number of Issues</td><td>Fair Value</td><td>Gross Unrealized Losses</td><td>Number of Issues</td><td>Fair Value</td><td>Gross Unrealized Losses</td></tr><tr><td>Mortgage-backed securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal agencies and U.S. government sponsored entities</td><td>294</td><td>$10,163</td><td>-$97</td><td>152</td><td>$8,061</td><td>-$226</td><td>446</td><td>$18,224</td><td>-$323</td></tr><tr><td>Other/non-agency</td><td>6</td><td>55</td><td>-1</td><td>10</td><td>84</td><td>-6</td><td>16</td><td>139</td><td>-7</td></tr><tr><td>Total mortgage-backed securities</td><td>300</td><td>10,218</td><td>-98</td><td>162</td><td>8,145</td><td>-232</td><td>462</td><td>18,363</td><td>-330</td></tr><tr><td>Total</td><td>300</td><td>$10,218</td><td>-$98</td><td>162</td><td>$8,145</td><td>-$232</td><td>462</td><td>$18,363</td><td>-$330</td></tr></table>
<table><tr><td></td><td colspan="9">December 31, 2016</td></tr><tr><td></td><td colspan="3">Less than 12 Months</td><td colspan="3">12 Months or Longer</td><td colspan="3">Total</td></tr><tr><td>(dollars in millions)</td><td>Number of Issues</td><td>Fair Value</td><td>Gross Unrealized Losses</td><td>Number of Issues</td><td>Fair Value</td><td>Gross Unrealized Losses</td><td>Number of Issues</td><td>Fair Value</td><td>Gross Unrealized Losses</td></tr><tr><td>State and political subdivisions</td><td>1</td><td>$8</td><td>$—</td><td>—</td><td>$—</td><td>$—</td><td>1</td><td>$8</td><td>$—</td></tr><tr><td>Mortgage-backed securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal agencies and U.S. government sponsored entities</td><td>323</td><td>15,387</td><td>-292</td><td>25</td><td>461</td><td>-16</td><td>348</td><td>15,848</td><td>-308</td></tr><tr><td>Other/non-agency</td><td>4</td><td>8</td><td>—</td><td>20</td><td>302</td><td>-28</td><td>24</td><td>310</td><td>-28</td></tr><tr><td>Total mortgage-backed securities</td><td>327</td><td>15,395</td><td>-292</td><td>45</td><td>763</td><td>-44</td><td>372</td><td>16,158</td><td>-336</td></tr><tr><td>Total</td><td>328</td><td>$15,403</td><td>-$292</td><td>45</td><td>$763</td><td>-$44</td><td>373</td><td>$16,166</td><td>-$336</td></tr></table>
<table><tr><td>For the years ended December 31,</td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>Net revenues</td><td>100.0%</td><td>100.0%</td><td>100.0%</td></tr><tr><td>Operating expenses:</td><td></td><td></td><td></td></tr><tr><td>Personnel expenses</td><td>46.8</td><td>45.0</td><td>44.6</td></tr><tr><td>Other selling, general, and administrative expenses</td><td>15.9</td><td>17.8</td><td>16.1</td></tr><tr><td>Total operating expenses</td><td>62.7</td><td>62.8</td><td>60.7</td></tr><tr><td>Income from operations</td><td>37.3</td><td>37.2</td><td>39.3</td></tr><tr><td>Interest and other (expense) income</td><td>-1.2</td><td>-0.5</td><td>16.5</td></tr><tr><td>Income before provision for income taxes</td><td>36.0</td><td>36.7</td><td>55.8</td></tr><tr><td>Provision for income taxes</td><td>13.6</td><td>14.0</td><td>21.2</td></tr><tr><td>Net income</td><td>22.4%</td><td>22.7%</td><td>34.6%</td></tr></table>
<table><tr><td></td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>Life Sciences</td><td>32%</td><td>23%</td><td>19%</td></tr><tr><td>Diagnostics</td><td>30%</td><td>33%</td><td>36%</td></tr><tr><td>Dental</td><td>16%</td><td>19%</td><td>17%</td></tr><tr><td>Environmental & Applied Solutions</td><td>22%</td><td>25%</td><td>28%</td></tr></table>
<table><tr><td>Stock issued for LTIP</td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>LTIP three-year plan</td><td>2015-16-17</td><td>2014-15-16</td><td>2013-14-15</td></tr><tr><td>Number of shares issued</td><td>308,278</td><td>227,707</td><td>175,291</td></tr><tr><td>Share value on date of issuance</td><td>$176.39</td><td>$157.07</td><td>$113.91</td></tr><tr><td>Total value</td><td>$54,377</td><td>$35,766</td><td>$19,967</td></tr></table>

Question: What is the sum of Personnel expenses in 2014 and Number of shares issued in 2018 ?
Answer: 308325
Reasoning program: add(46.8,308278)