Notes to the Consolidated Financial Statements 1.
Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of PPG Industries, Inc.  (“PPG” or the “Company”) and all subsidiaries, both U. S.  and non-U.
S. , that it controls.
PPG owns more than 50% of the voting stock of most of the subsidiaries that it controls.
For those consolidated subsidiaries in which the Company’s ownership is less than 100%, the outside shareholders’ interests are shown as noncontrolling interests.
Investments in companies in which PPG owns 20% to 50% of the voting stock and has the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting.
As a result, PPG’s share of income or losses from such equity affiliates is included in the consolidated statement of income and PPG’s share of these companies’ shareholders’ equity is included in Investments on the consolidated balance sheet.
Transactions between PPG and its subsidiaries are eliminated in consolidation.
Use of Estimates in the Preparation of Financial Statements The preparation of financial statements in conformity with U. S.  generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of income and expenses during the reporting period.
Such estimates also include the fair value of assets acquired and liabilities assumed resulting from the allocation of the purchase price related to business combinations consummated.
Actual outcomes could differ from those estimates.
Revenue Recognition Revenue is recognized as performance obligations with the customer are satisfied, at an amount that is determined to be collectible.
For the sale of products, this generally occurs at the point in time when control of the Company’s products transfers to the customer based on the agreed upon shipping terms.
Shipping and Handling Costs Amounts billed to customers for shipping and handling are reported in Net sales in the consolidated statement of income.
Shipping and handling costs incurred by the Company for the delivery of goods to customers are included in Cost of sales, exclusive of depreciation and amortization in the consolidated statement of income.
Selling, General and Administrative Costs Amounts presented in Selling, general and administrative in the consolidated statement of income are comprised of selling, customer service, distribution and advertising costs, as well as the costs of providing corporate-wide functional support in such areas as finance, law, human resources and planning.
Distribution costs pertain to the movement and storage of finished goods inventory at company-owned and leased warehouses and other distribution facilities.
Advertising Costs Advertising costs are expensed as incurred and totaled $280 million, $313 million and $322 million in 2018, 2017 and 2016, respectively.
Research and Development Research and development costs, which consist primarily of employee related costs, are charged to expense as incurred.
## Table 0 ##
Legal Costs Legal costs, primarily include costs associated with acquisition and divestiture transactions, general litigation, environmental regulation compliance, patent and trademark protection and other general corporate purposes, are charged to expense as incurred.
Income Taxes Income taxes are accounted for under the asset and liability method.
Deferred tax assets and liabilities are recognized for the future tax consequences attributable to operating losses and tax credit carryforwards as well as differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases.
The effect on deferred
Management estimates that the projected net economic loss from its largest 100-year event in a given zone represents approximately 13% of its projected 2016 shareholders’ equity.
Economic loss is the PML exposure, net of third party reinsurance and the noncontrolling interests of Mt.
Logan Re, reduced by estimated reinstatement premiums to renew coverage and estimated income taxes.
The impact of income taxes on the PML depends on the distribution of the losses by corporate entity, which is also affected by inter-affiliate reinsurance.
Management also monitors and controls its largest PMLs at multiple points along the loss distribution curve, such as loss amounts at the 20, 50, 100, 250, 500 and 1,000 year return periods.
This process enables management to identify and control exposure accumulations and to integrate such exposures into enterprise risk, underwriting and capital management decisions.
The Company’s catastrophe loss projections, segmented by risk zones, are updated quarterly and reviewed as part of a formal risk management review process.
The table below reflects the Company’s PML exposure, net of third party reinsurance and the noncontrolling interests of Mt.
Logan Re, at various return periods for its top three zones/perils (as ranked by the largest 1 in 100 year events) based on loss projection data as of January 1, 2016:
## Table 1 ##
The projected net economic losses for the top three zones/perils scheduled above are as follows:
## Table 2 ##
The Southeast U. S.  Wind zone PML’s are impacted by the timing of retrocessional purchases.
The amounts reported in the table above for this zone do not reflect the protection afforded by ILW (Industry Loss Warranty) purchases made during the risk period, as these contracts expired at 12/31/15.
The Company will evaluate its exposures in conjunction with its risk tolerance limits to determine whether additional protections are warranted during the exposure period.
The Company believes that its methods of monitoring, analyzing and managing catastrophe exposures provide a credible risk management framework, which is integrated with its enterprise risk management, underwriting and capital management plans.
However, there is much uncertainty and imprecision inherent in the catastrophe models and the catastrophe loss estimation process generally.
As a result, there can be no assurance that the Company will not experience losses from individual events that exceed the PML or other return period projections, perhaps by a material amount.
Nor can there be assurance that the Company will not experience events impacting multiple zones, or multiple severe events that could, in the aggregate, exceed the Company’s PML expectations by a significant amount.
Terrorism Risk.
While the Company writes some reinsurance contracts covering terrorism, the Company’s risk management philosophy is to limit the amount of exposure by geographic region, and to strictly manage coverage for properties in areas that may be considered a target for terrorists.
Providing terrorism coverage on reinsurance contracts is negotiable, and many, but not all, treaties contain exclusions which limit much of this risk.
While many property insurance policies are required to offer coverage for terrorism, this coverage is often not purchased.
However, terrorism is typically covered by worker compensation policies.
As a result, the Company is exposed to losses from terrorism on both its reinsurance and its insurance book of business, particularly its workers’ compensation and property policies.
However, the insurance book generally does not insure large corporations or corporate locations that represent large concentrations of risk.
Bermuda.
The following table presents the underwriting results and ratios for the Bermuda segment for the periods indicated.
## Table 3 ##
Premiums.
Gross written premiums increased by 10.7% to $852.5 million in 2015 compared to $770.2 million in 2014, primarily due to increased property and casualty writings through the Bermuda, Ireland and UK offices, partially offset by the negative impact of $44.1 million from the movement of foreign exchange rates.
Net written premiums increased by 6.3% to $791.6 million in 2015 compared to $744.7 million in 2014.
The difference between the change in gross written premiums compared to the change in net written premiums was due to a higher utilization of reinsurance.
Premiums earned increased 14.9% to $822.4 million in 2015 compared to $715.7 million in 2014.
The change in premiums earned relative to net written premiums is the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.
Gross written premiums decreased by 0.5% to $770.2 million in 2014 compared to $774.3 million in 2013, primarily due to the non-renewal of a casualty quota share contract.
Net written premiums decreased by 2.7% to $744.7 million in 2014 compared to $765.7 million in 2013.
The variance of the change in gross written premiums compared to the change in net written premiums is due to a higher utilization of reinsurance including cessions to Mt.
Logan.
Premiums earned decreased 3.0% to $715.7 million in 2014 compared to $738.0 million in 2013.
The change in premiums earned relative to net written premiums is the result of timing; premiums are earned ratably over the coverage period whereas written premiums are recorded at the initiation of the coverage period.
For the portion needed to satisfy global outstanding liabilities, we generally invest in taxable and taxpreferenced fixed income securities with an average credit quality of Aa3.
For the U. S.  portion of this portfolio, our mix of taxable and tax-preferenced investments is adjusted periodically, consistent with our current and projected U. S.  operating results, market conditions and our tax position.
This global fixed maturity securities portfolio is externally managed by independent, professional investment managers using portfolio guidelines approved by internal management.
Over the past several years, we have expanded the allocation of our investments funded by shareholders’ equity to include: 1) a greater percentage of publicly traded equity securities, 2) emerging market fixed maturities through mutual fund structures, as well as individual holdings, 3) high yield fixed maturities, 4) bank and private loan securities and 5) private equity limited partnership investments.
The objective of this portfolio diversification is to enhance the risk-adjusted total return of the investment portfolio by allocating a prudent portion of the portfolio to higher return asset classes, which are also less subject to changes in value with movements in interest rates.
We limit our allocation to these asset classes because of 1) the potential for volatility in their values and 2) the impact of these investments on regulatory and rating agency capital adequacy models.
We use investment managers experienced in these markets and adjust our allocation to these investments based upon market conditions.
At December 31, 2018, the market value of investments in these investment market sectors, carried at both market and fair value, approximated 51.9% of shareholders’ equity.
The Company’s limited partnership investments are comprised of limited partnerships that invest in private equities.
Generally, the limited partnerships are reported on a quarter lag.
We receive annual audited financial statements for all of the limited partnerships which are prepared using fair value accounting in accordance with FASB guidance.
For the quarterly reports, the Company’s staff performs reviews of the financial reports for any unusual changes in carrying value.
If the Company becomes aware of a significant decline in value during the lag reporting period, the loss will be recorded in the period in which the Company identifies the decline.
The tables below summarize the composition and characteristics of our investment portfolio as of the dates indicated.
## Table 4 ##
At December 31,

Tables referenced above, in order (Table 0 first):
<table><tr><td>($ in millions)</td><td>2018</td><td>2017</td><td>2016</td></tr><tr><td>Research and development – total</td><td>$464</td><td>$472</td><td>$473</td></tr><tr><td>Less depreciation on research facilities</td><td>23</td><td>21</td><td>20</td></tr><tr><td>Research and development, net</td><td>$441</td><td>$451</td><td>$453</td></tr></table>
<table><tr><td>Return Periods (in years)</td><td>1 in 20</td><td>1 in 50</td><td>1 in 100</td><td>1 in 250</td><td>1 in 500</td><td>1 in 1,000</td></tr><tr><td>Exceeding Probability</td><td>5.0%</td><td>2.0%</td><td>1.0%</td><td>0.4%</td><td>0.2%</td><td>0.1%</td></tr><tr><td>(Dollars in millions)</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Zone/ Peril</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Southeast U.S., Wind</td><td>$827</td><td>$1,235</td><td>$1,540</td><td>$2,133</td><td>$2,497</td><td>$2,838</td></tr><tr><td>California, Earthquake</td><td>141</td><td>576</td><td>978</td><td>1,449</td><td>1,734</td><td>2,042</td></tr><tr><td>Texas, Wind</td><td>146</td><td>414</td><td>799</td><td>1,281</td><td>1,799</td><td>2,211</td></tr></table>
<table><tr><td>Return Periods (in years)</td><td>1 in 20</td><td>1 in 50</td><td>1 in 100</td><td>1 in 250</td><td>1 in 500</td><td>1 in 1,000</td></tr><tr><td>Exceeding Probability</td><td>5.0%</td><td>2.0%</td><td>1.0%</td><td>0.4%</td><td>0.2%</td><td>0.1%</td></tr><tr><td>(Dollars in millions)</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Zone/ Peril</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Southeast U.S., Wind</td><td>$535</td><td>$793</td><td>$983</td><td>$1,360</td><td>$1,605</td><td>$1,835</td></tr><tr><td>California, Earthquake</td><td>114</td><td>417</td><td>678</td><td>989</td><td>1,177</td><td>1,383</td></tr><tr><td>Texas, Wind</td><td>114</td><td>310</td><td>549</td><td>852</td><td>1,191</td><td>1,465</td></tr></table>
<table><tr><td></td><td colspan="3">Years Ended December 31,</td><td colspan="2">2015/2014</td><td colspan="2">2014/2013</td></tr><tr><td>(Dollars in millions)</td><td>2015</td><td>2014</td><td>2013</td><td>Variance</td><td>% Change</td><td>Variance</td><td>% Change</td></tr><tr><td>Gross written premiums</td><td>$852.5</td><td>$770.2</td><td>$774.3</td><td>$82.2</td><td>10.7%</td><td>$-4.0</td><td>-0.5%</td></tr><tr><td>Net written premiums</td><td>791.6</td><td>744.7</td><td>765.7</td><td>46.9</td><td>6.3%</td><td>-21.0</td><td>-2.7%</td></tr><tr><td>Premiums earned</td><td>$822.4</td><td>$715.7</td><td>$738.0</td><td>$106.7</td><td>14.9%</td><td>$-22.3</td><td>-3.0%</td></tr><tr><td>Incurred losses and LAE</td><td>456.4</td><td>361.8</td><td>374.4</td><td>94.7</td><td>26.2%</td><td>-12.6</td><td>-3.4%</td></tr><tr><td>Commission and brokerage</td><td>216.0</td><td>198.8</td><td>179.1</td><td>17.1</td><td>8.6%</td><td>19.7</td><td>11.0%</td></tr><tr><td>Other underwriting expenses</td><td>36.0</td><td>34.9</td><td>34.7</td><td>1.1</td><td>3.1%</td><td>0.3</td><td>0.8%</td></tr><tr><td>Underwriting gain (loss)</td><td>$113.9</td><td>$120.2</td><td>$149.8</td><td>$-6.2</td><td>-5.2%</td><td>$-29.6</td><td>-19.8%</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Point Chg</td><td></td><td>Point Chg</td></tr><tr><td>Loss ratio</td><td>55.4%</td><td>50.5%</td><td>50.7%</td><td></td><td>4.9</td><td></td><td>-0.2</td></tr><tr><td>Commission and brokerage ratio</td><td>26.3%</td><td>27.8%</td><td>24.3%</td><td></td><td>-1.5</td><td></td><td>3.5</td></tr><tr><td>Other underwriting expense ratio</td><td>4.4%</td><td>4.9%</td><td>4.7%</td><td></td><td>-0.5</td><td></td><td>0.2</td></tr><tr><td>Combined ratio</td><td>86.1%</td><td>83.2%</td><td>79.7%</td><td></td><td>2.9</td><td></td><td>3.5</td></tr><tr><td colspan="2">(Some amounts may not reconcile due to rounding.)</td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table>
<table><tr><td></td><td colspan="4">At December 31,</td></tr><tr><td>(Dollars in millions)</td><td colspan="2">2018</td><td colspan="2">2017</td></tr><tr><td>Fixed maturities, market value</td><td>$15,225.3</td><td>82.6%</td><td>$14,756.8</td><td>79.2%</td></tr><tr><td>Fixed maturities, fair value</td><td>2.3</td><td>0.0%</td><td></td><td></td></tr><tr><td>Equity securities, market value</td><td>-</td><td>0.0%</td><td>129.5</td><td>0.7%</td></tr><tr><td>Equity securities, fair value</td><td>716.6</td><td>3.9%</td><td>963.6</td><td>5.2%</td></tr><tr><td>Short-term investments</td><td>241.0</td><td>1.3%</td><td>509.7</td><td>2.7%</td></tr><tr><td>Other invested assets</td><td>1,591.7</td><td>8.6%</td><td>1,631.9</td><td>8.8%</td></tr><tr><td>Cash</td><td>656.1</td><td>3.6%</td><td>635.1</td><td>3.4%</td></tr><tr><td>Total investments and cash</td><td>$18,433.1</td><td>100.0%</td><td>$18,626.5</td><td>100.0%</td></tr><tr><td>(Some amounts may not reconcile due to rounding.)</td><td></td><td></td><td></td><td></td></tr></table>

Question: What do all Years Ended December 31 sum up without those Years Ended December 31 smaller than 400, in 2014? (in million)
Answer: 2230.6
Reasoning program: add(770.2,744.7), add(#0,715.7)