Summary of Significant 2017 Events In October 2017, we (a) repriced and increased the then existing $750 million revolving credit facility with a new $875 million revolving credit facility (the “New Revolving Loan Facility”), (b) repriced the approximately $1,412 million principal amount outstanding under the existing senior secured term A facility (the “New Term A Loan Facility”), and (c) added a new $375 million term B loan facility due 2021.
Also, we completed the redemption of all of our then outstanding 4.625% Senior Notes due 2020 (“Notes”), at a price including accrued and unpaid interest, of $1,044.41 per $1,000 of outstanding principal amount of Notes.
No Notes remained outstanding after the redemption.
In April 2017, Norwegian Joy was delivered.
In February 2017, we announced Project Leonardo, under which we plan to introduce an additional four ships with expected delivery dates through 2025.
We have an option to introduce two additional ships for delivery in 2026 and 2027, subject to certain conditions.
These four Project Leonardo ships are each 140,000 gross tons with approximately 3,300 Berths.
The contract price for each of the four ships is Summary of Significant 2017 Events In October 2017, we (a) repriced and increased the then existing $750 million revolving credit facility with a new $875 million revolving credit facility (the ¡°New Revolving Loan Facility¡±), (b) repriced the approximately $1,412 million principal amount outstanding under the existing senior secured term A facility (the ¡°New Term A Loan Facility¡±), and (c) added a new $375 million term B loan facility due 2021.
Also, we completed the redemption of all of our then outstanding 4.625% Senior Notes due 2020 (¡°Notes¡±), at a price including accrued and unpaid interest, of $1,044.41 per $1,000 of outstanding principal amount of Notes.
No Notes remained outstanding after the redemption.
In April 2017, Norwegian Joy was delivered.
In February 2017, we announced Project Leonardo, under which we plan to introduce an additional four ships with expected delivery dates through 2025.
We have an option to introduce two additional ships for delivery in 2026 and 2027, subject to certain conditions.
These four Project Leonardo ships are each 140,000 gross tons with approximately 3,300 Berths.
The contract price for each of the four ships is approximately €800.0 million, subject to certain conditions, or $960.4 million based on the exchange rate as of December 31, 2017.
We have obtained export credit financing for the ships which is expected to fund approximately 80% of the contract price of each ship expected to be delivered through 2025, subject to certain conditions.
Executive Overview Total revenue increased 10.7% to $5.4 billion for the year ended December 31, 2017 compared to $4.9 billion for the year ended December 31, 2016.
Gross Yield increased 4.4%.
Net Revenue for the year ended December 31, 2017 increased 11.2% to $4.2 billion from $3.8 billion in the same period in 2016 with an improvement in Net Yield of 4.9% and an increase in Capacity Days of 6.0%.
For the year ended December 31, 2017, we had net income and diluted EPS of $759.9 million and $3.31, respectively.
For the year ended December 31, 2016, we had net income and diluted EPS of $633.1 million and $2.78, respectively.
Operating income increased 13.3% to $1.0 billion for the year ended December 31, 2017 from $925.5 million for the year ended December 31, 2016.
We had Adjusted Net Income and Adjusted EPS of $907.7 million and $3.96, respectively, for the year ended December 31, 2017, which includes $147.8 million of adjustments primarily consisting of expenses related to non-cash compensation, amortization of intangible assets, write-offs of fees related to extinguishment of debt and refinancing of certain credit facilities and certain other adjustments compared to Adjusted Net Income and Adjusted EPS of $776.3 million and $3.41, respectively, for the year ended December 31, 2016.
A 14.7% improvement in Adjusted EBITDA was achieved for the same period, primarily due to the increase in net income and EBITDA.
We refer you to our ¡°Results of Operations¡± below for a calculation of Net Revenue, Net Yield, Adjusted Net Income, Adjusted EPS and Adjusted EBITDA.
Results of Operations We reported total revenue, total cruise operating expense, operating income and net income as follows (in thousands, except per share data):
## Table 0 ##
PRUDENTIAL FINANCIAL, INC.  Notes to Consolidated Financial Statements 20.
FAIR VALUE OF ASSETS AND LIABILITIES (continued)
## Table 1 ##
(1) Separate account assets represent segregated funds that are invested for certain customers.
Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by the Company with respect to certain accounts.
Separate account assets classified as Level 3 consist primarily of real estate and real estate investment funds.
Separate account liabilities are not included in the above table as they are reported at contract value and not fair value in the Company’s Consolidated Statement of Financial Position.
(2) “Netting” amounts represent cash collateral and the impact of offsetting asset and liability positions held with the same counterparty.
The methods and assumptions the Company uses to estimate fair value of assets and liabilities measured at fair value on a recurring basis are summarized as follows: Fixed Maturity Securities—The fair values of the Company’s public fixed maturity securities are generally based on prices obtained from independent pricing services.
Prices from pricing services are sourced from multiple vendors, and a vendor hierarchy is maintained by asset type based on historical pricing experience and vendor expertise.
The Company generally receives prices from multiple pricing services for each security, but ultimately uses the price from the pricing service highest in the vendor hierarchy based on the respective asset type.
In order to validate reasonability, prices are reviewed by internal asset managers through comparison with directly observed recent market trades and internal estimates of current fair value, developed using market observable inputs and economic indicators.
Consistent with the fair value hierarchy described above, securities with validated quotes from pricing services are generally reflected within Level 2.
If the pricing information received from third party pricing services is not reflective of market activity or other inputs observable in the market, the Company may challenge the price through a formal process with the pricing service.
If the pricing service updates the price to be more consistent in comparison to the presented market observations, the security remains within Level 2.
If the Company ultimately concludes that pricing information received from the independent pricing service is not reflective of market activity, non-binding broker quotes are used, if available.
If the Company concludes the values from both pricing services and brokers are not reflective of market activity, it may over-ride the information from the pricing service or broker with an internally developed valuation.
As of December 31, 2009 and 2008 over-rides on a net basis were not material.
Internally developed valuations or non-binding broker quotes are also used to determine fair value in circumstances where vendor pricing is not available.
These estimates may use significant unobservable inputs, which reflect our own assumptions about the inputs market participants would use in pricing the asset.
Circumstances where observable market data are not available may include events such as market illiquidity and credit events related to the security.
Pricing service over-rides, internally developed valuations and non-binding broker quotes are generally included in Level 3 in our fair value hierarchy.
The fair value of private fixed maturities, which are primarily comprised of investments in private placement securities, originated by internal private asset managers, are primarily determined using a discounted cash flow model.
In certain cases these models primarily use observable inputs with a discount rate based upon the average of spread surveys collected from private market intermediaries who are active in both primary and secondary transactions, taking into account, among other factors, the credit quality and industry sector of the issuer and the reduced liquidity associated with private placements.
Generally, these securities have been reflected within Level 2.
For certain private fixed maturities, the discounted cash flow model may also incorporate significant unobservable inputs, which reflect the Company’s own assumptions about the inputs market participants would use in pricing the asset.
Accordingly, these securities have been reflected within Level 3.
Significant unobservable inputs used include: issue specific credit adjustments, material non-public financial information, management judgment, estimation of future earnings and cash flows, default rate assumptions, and liquidity assumptions.
These inputs are usually considered unobservable, as not all market participants will have access to this data.
Private fixed maturities also include debt investments in funds that, in addition to a stated coupon, pay a return based upon the results of the underlying portfolios.
The fair values of these securities are determined by reference to the funds’ net asset value (NAV).
Any
Competition We compete in the global payment marketplace against all forms of payment, including paperbased forms (principally cash and checks), card-based payments (including credit, charge, debit, ATM, prepaid, private-label and other types of general-purpose and limited-use cards) and other electronic payments (including wire transfers, electronic benefits transfers, automatic clearing house, or ACH, payments and electronic data interchange).
Within the general purpose payment card industry, we face substantial and intense competition worldwide in the provision of payments services to financial institution customers and their cardholder merchants.
The leading global card brands in the general purpose payment card industry are Visa, MasterCard, American Express and Diners Club.
Other general-purpose card brands are more concentrated in specific geographic regions, such as JCB in Japan and Discover in the United States.
In certain countries, our competitors have leading positions, such as China UnionPay in China, which is the sole domestic inter-bank bankcard processor and operates the sole domestic bankcard acceptance mark in China due to local regulation.
We also compete against private-label cards, which can generally be used to make purchases solely at the sponsoring retail store, gasoline retailer or other merchant.
In the debit card market segment, Visa and MasterCard are the primary global brands.
In addition, our Interlink and Visa Electron brands compete with Maestro, owned by MasterCard, and various regional and country-specific debit network brands.
In addition to our PLUS brand, the primary cash access card brands are Cirrus, owned by MasterCard, and many of the online debit network brands referenced above.
In many countries, local debit brands are the primary brands, and our brands are used primarily to enable cross-border transactions, which typically constitute a small portion of overall transaction volume.
See Item 8—Financial Statements and Supplementary Data for financial information about geographic areas.
Based on payments volume, total volume, number of transactions and number of cards in circulation, Visa is the largest retail electronic payments network in the world.
The following chart compares our network with those of our major general-purpose payment network competitors for calendar year 2008:
## Table 2 ##
(1) Visa Inc.  figures as reported on form 8-K filed with the SEC on April 29, 2009.
Source: The Nilson Report, issue 924 (April 2009) and issue 925 (May 2009).
Note: Visa Inc.  figures exclude Visa Europe.
Figures for competitors include their respective European operations.
Visa figures include Visa, Visa Electron, and Interlink brands.
The Visa card figure includes PLUS-only cards (with no Visa logo) in all regions except the United States, but PLUS cash volume is not included.
Domestic China figures including commercial funds transfers are excluded.
MasterCard includes PIN-based debit card figures on MasterCard cards, but not Maestro or Cirrus figures.
American Express includes business from third-party issuers.
JCB figures are for April 2007 through March 2008, but cards are as of September 2008.
Transaction figures are estimates.
Figures include business from third-party issuers.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="3">Year Ended December 31,</td></tr><tr><td></td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>Total revenue</td><td>$5,396,175</td><td>$4,874,340</td><td>$4,345,048</td></tr><tr><td>Total cruise operating expense</td><td>$3,063,644</td><td>$2,850,225</td><td>$2,655,449</td></tr><tr><td>Operating income</td><td>$1,048,819</td><td>$925,464</td><td>$702,486</td></tr><tr><td>Net income</td><td>$759,872</td><td>$633,085</td><td>$427,137</td></tr><tr><td>EPS:</td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>$3.33</td><td>$2.79</td><td>$1.89</td></tr><tr><td>Diluted</td><td>$3.31</td><td>$2.78</td><td>$1.86</td></tr></table>
<table><tr><td></td><td colspan="5"> As of December 31, 2008</td></tr><tr><td></td><td> Level 1</td><td> Level 2</td><td> Level 3</td><td>Netting-2</td><td> Total</td></tr><tr><td></td><td colspan="5"> (in millions)</td></tr><tr><td>Fixed maturities, available for sale</td><td>$—</td><td>$155,787</td><td>$2,269</td><td>$—</td><td>$158,056</td></tr><tr><td>Trading account assets supporting insurance liabilities</td><td>748</td><td>12,982</td><td>145</td><td>—</td><td>13,875</td></tr><tr><td>Other trading account assets</td><td>143</td><td>9,882</td><td>1,396</td><td>-7,085</td><td>4,336</td></tr><tr><td>Equity securities, available for sale</td><td>3,801</td><td>1,939</td><td>325</td><td>—</td><td>6,065</td></tr><tr><td>Commercial mortgage and other loans</td><td>—</td><td>517</td><td>56</td><td>—</td><td>573</td></tr><tr><td>Other long-term investments</td><td>246</td><td>265</td><td>1,015</td><td>—</td><td>1,526</td></tr><tr><td>Short-term investments</td><td>2,601</td><td>1,874</td><td>—</td><td>—</td><td>4,475</td></tr><tr><td>Cash and cash equivalents</td><td>2,512</td><td>8,834</td><td>—</td><td>—</td><td>11,346</td></tr><tr><td>Other assets</td><td>1,255</td><td>2,500</td><td>26</td><td>—</td><td>3,781</td></tr><tr><td>Sub-total excluding separate account assets</td><td>11,306</td><td>194,580</td><td>5,232</td><td>-7,085</td><td>204,033</td></tr><tr><td>Separate account assets-1</td><td>56,362</td><td>70,953</td><td>19,780</td><td>—</td><td>147,095</td></tr><tr><td>Total assets</td><td>$67,668</td><td>$265,533</td><td>$25,012</td><td>$-7,085</td><td>$351,128</td></tr><tr><td>Future policy benefits</td><td>—</td><td>—</td><td>3,229</td><td>—</td><td>3,229</td></tr><tr><td>Long-term debt</td><td>—</td><td>—</td><td>324</td><td>—</td><td>324</td></tr><tr><td>Other liabilities</td><td>57</td><td>6,692</td><td>139</td><td>-5,948</td><td>940</td></tr><tr><td>Total liabilities</td><td>$57</td><td>$6,692</td><td>$3,692</td><td>$-5,948</td><td>$4,493</td></tr></table>
<table><tr><td>Company</td><td>Payments Volume  (billions)</td><td>Total Volume  (billions)</td><td>Total Transactions  (billions)</td><td>Cards  (millions)</td></tr><tr><td>Visa Inc.<sup>-1</sup></td><td>$2,727</td><td>$4,346</td><td>56.7</td><td>1,717</td></tr><tr><td>MasterCard</td><td>1,900</td><td>2,533</td><td>29.9</td><td>981</td></tr><tr><td>American Express</td><td>673</td><td>683</td><td>5.3</td><td>92</td></tr><tr><td>Discover</td><td>106</td><td>120</td><td>1.6</td><td>57</td></tr><tr><td>JCB</td><td>63</td><td>68</td><td>0.7</td><td>60</td></tr><tr><td>Diners Club</td><td>30</td><td>31</td><td>0.2</td><td>7</td></tr></table>

Question: Between Level 2 and Level 3,which Level is Total assets as of December 31, 2008 greater than 100000 million?
Answer: 2