Table XVII Quarterly Reconciliations to GAAP Financial Measures (1)
## Table 0 ##
(1) Presents reconciliations of non-GAAP financial measures to GAAP financial measures.
We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation.
Other companies may define or calculate these measures differently.
For more information on non-GAAP financial measures and ratios we use in assessing the results of the Corporation, see Supplemental Financial Data on page 29.
Bristol-Myers Squibb 58 Note 2 Alliances and Investments Sanofi-Aventis The Company has agreements with Sanofi-Aventis (Sanofi) for the codevelopment and cocommercialization of Avapro/Avalide (irbesartan), an angiotensin II receptor antagonist indicated for the treatment of hypertension and diabetic nephropathy, and Plavix (clopidogrel), a platelet aggregation inhibitor.
The worldwide alliance operates under the framework of two geographic territories; one in the Americas (principally the U. S. , Canada, Puerto Rico and Latin American countries) and Australia and the other in Europe and Asia.
Accordingly, two territory partnerships were formed to manage central expenses, such as marketing, research and development and royalties, and to supply finished product to the individual countries.
In general, at the country level, agreements either to copromote (whereby a partnership was formed between the parties to sell each brand) or to comarket (whereby the parties operate and sell their brands independently of each other) are in place.
The agreements expire on the later of (i) with respect to Plavix, 2013 and, with respect to Avapro/Avalide, 2012 in the Americas and Australia and 2013 in Europe and Asia and (ii) the expiration of all patents and other exclusivity rights in the applicable territory.
The Company acts as the operating partner for the territory covering the Americas and Australia and owns a 50.1% majority controlling interest in this territory.
Sanofi’s ownership interest in this territory is 49.9%.
As such, the Company consolidates all country partnership results for this territory and records Sanofi’s share of the results as a minority interest, net of taxes, which was $746 million in 2007, $428 million in 2006 and $578 million in 2005.
The Company recorded sales in this territory and in comarketing countries in the territory covering Europe and Asia of $5,958 million in 2007, $4,355 million in 2006 and $4,805 million in 2005.
Cash flows from operating activities of the partnerships in the territory covering the Americas and Australia are recorded as operating activities within the Company’s consolidated statement of cash flows.
Distributions of partnership profits to Sanofi and Sanofi’s funding of ongoing partnership operations occur on a routine basis and are also recorded within operating activities on the Company’s consolidated statement of cash flows.
Sanofi acts as the operating partner of the territory covering Europe and Asia and owns a 50.1% majority financial controlling interest within this territory.
The Company’s ownership interest in the partnerships within this territory is 49.9%.
The Company accounts for the investment in partnership entities in this territory under the equity method and records its share of the results in equity in net income of affiliates in the consolidated statement of earnings.
The Company’s share of net income from these partnership entities before taxes was $526 million in 2007, $439 million in 2006 and $345 million in 2005.
The Company routinely receives distributions of profits and provides funding for the ongoing operations of the partnerships in the territory covering Europe and Asia.
These transactions are recorded as operating activities within the Company’s consolidated statement of cash flows.
In 2001, the Company and Sanofi (the Companies) formed an alliance for the copromotion of irbesartan, as part of which the Company contributed the irbesartan distribution rights in the U. S.  and Sanofi paid the Company a total of $350 million in the two years ended December 31, 2002.
The Company accounted for this transaction as a sale of an interest in a license.
The $350 million was deferred and is being amortized to other income over the expected useful life of the license, which is approximately 11 years from the formation of the irbesartan copromotion alliance.
The Company recognized other income of $32 million, $31 million and $31 million in 2007, 2006 and 2005, respectively.
The unamortized portion of the deferred income is recorded in the liabilities section of the consolidated balance sheet and was $154 million and $186 million as of December 31, 2007 and 2006, respectively.
The following is the summarized financial information for the Company’s equity investments in the partnership with Sanofi for the territory covering Europe and Asia:
## Table 1 ##
Available Capacity: As of June 30, 2009, outstanding borrowings and available capacity under the Company’s borrowing arrangements were as follows:
## Table 2 ##
The carrying value of the variable-rate term loan facility approximates fair value.
The fair value of the fixed-rate Senior Notes at June 30, 2009 was $104.4 million based on quoted market prices.
Amounts are due on the expiration dates listed above.
NOTE 12.
REGULATORY REQUIREMENTS As a registered broker-dealer and member of the New York Stock Exchange (“NYSE”) and the Financial Industry Regulatory Authority (“FINRA”), Ridge Clearing & Outsourcing Solutions, Inc.  (“Ridge Clearing”) is subject to the Uniform Net Capital Rule 15c3-1 of the Securities Exchange Act of 1934 (“Rule 15c3-1”).
Ridge Clearing computes its net capital under the alternative method permitted by Rule 15c3-1, which requires Ridge Clearing to maintain minimum net capital equal to the greater of $1.5 million or 2% of aggregate debit items arising from customer transactions.
The NYSE and FINRA may require a member firm to reduce its business if its net capital is less than 4% of aggregate debit items, or may prohibit a member firm from expanding its business or paying cash dividends if resulting net capital would be less than 5% of aggregate debit items.
At June 30, 2009, Ridge Clearing had net capital of $217.4 million, which was approximately 30.9% of aggregate debit items and exceeded the minimum requirements by $203.3 million.
Ridge Clearing is also subject to Rule 15c3-3 of the Securities Exchange Act of 1934 (“Rule 15c3-3”).
In addition, in order to allow correspondent broker-dealers to classify their assets held by Ridge Clearing as allowable assets in their computation of net capital, Ridge Clearing has agreed to compute a separate reserve requirement for the proprietary accounts of introducing brokers (“PAIB”).
Pursuant to Rule 15c3-3, Ridge Clearing computes its customer and PAIB segregation requirements on the business day following the required computation date on an 'as of' basis.
Accordingly, when Ridge Clearing computed its customer and PAIB requirements as of June 30, 2009, it determined that approximately $235.4 million and $51.1 million, respectively, of funds or securities were required to be segregated in accordance with Rule 15c3-3.
The following business day, pursuant to Rule 15c3-3, Ridge Clearing arranged for approximately $258.2 million and $80.5 million of cash to be segregated in its special reserve accounts for the exclusive benefit of customers and PAIB, exceeding actual requirements by approximately $22.8 million and $29.4 million, respectively.
At June 30, 2009, cash of approximately $164.2 million and $80.3 million had been segregated in special reserve accounts for the exclusive benefit of customers and PAIB, respectively, in accordance with Rule 15c3-3, based on the regulatory requirements computed as of June 26, 2009.
NOTE 13.
STOCK-BASED COMPENSATION Incentive Equity Awards Converted from ADP Awards.
Before March 31, 2007, all employee equity awards (stock options and restricted stock) were granted by ADP.
At the time of the Distribution, ADP’s outstanding equity awards for employees of the Company were converted into equity awards of Broadridge at a ratio of 2.4569 Broadridge stock options for every ADP stock option held before the Distribution and 2.2386 Broadridge
We believe that the presentation of adjusted diluted earnings per share, which excludes withdrawal costs – multiemployer pension funds, restructuring charges, loss on extinguishment of debt, and (gain) loss on business dispositions and impairments, net, provides an understanding of operational activities before the financial effect of certain items.
We use this measure, and believe investors will find it helpful, in understanding the ongoing performance of our operations separate from items that have a disproportionate effect on our results for a particular period.
We have incurred comparable charges and costs in prior periods, and similar types of adjustments can reasonably be expected to be recorded in future periods.
Our definition of adjusted diluted earnings per share may not be comparable to similarly titled measures presented by other companies.
Property and Equipment, Net In 2017, we anticipate receiving approximately $975 million of property and equipment, net of proceeds from sales of property and equipment, as follows:

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="4">2014 Quarters</td><td colspan="4">2013 Quarters</td></tr><tr><td>(Dollars in millions)</td><td>Fourth</td><td>Third</td><td>Second</td><td>First</td><td>Fourth</td><td>Third</td><td>Second</td><td>First</td></tr><tr><td>Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net interest income</td><td>$9,635</td><td>$10,219</td><td>$10,013</td><td>$10,085</td><td>$10,786</td><td>$10,266</td><td>$10,549</td><td>$10,664</td></tr><tr><td>Fully taxable-equivalent adjustment</td><td>230</td><td>225</td><td>213</td><td>201</td><td>213</td><td>213</td><td>222</td><td>211</td></tr><tr><td>Net interest income on a fully taxable-equivalent basis</td><td>$9,865</td><td>$10,444</td><td>$10,226</td><td>$10,286</td><td>$10,999</td><td>$10,479</td><td>$10,771</td><td>$10,875</td></tr><tr><td>Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total revenue, net of interest expense</td><td>$18,725</td><td>$21,209</td><td>$21,747</td><td>$22,566</td><td>$21,488</td><td>$21,530</td><td>$22,727</td><td>$23,197</td></tr><tr><td>Fully taxable-equivalent adjustment</td><td>230</td><td>225</td><td>213</td><td>201</td><td>213</td><td>213</td><td>222</td><td>211</td></tr><tr><td>Total revenue, net of interest expense on a fully taxable-equivalent basis</td><td>$18,955</td><td>$21,434</td><td>$21,960</td><td>$22,767</td><td>$21,701</td><td>$21,743</td><td>$22,949</td><td>$23,408</td></tr><tr><td>Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income tax expense (benefit)</td><td>$1,260</td><td>$663</td><td>$504</td><td>$-405</td><td>$406</td><td>$2,348</td><td>$1,486</td><td>$501</td></tr><tr><td>Fully taxable-equivalent adjustment</td><td>230</td><td>225</td><td>213</td><td>201</td><td>213</td><td>213</td><td>222</td><td>211</td></tr><tr><td>Income tax expense (benefit) on a fully taxable-equivalent basis</td><td>$1,490</td><td>$888</td><td>$717</td><td>$-204</td><td>$619</td><td>$2,561</td><td>$1,708</td><td>$712</td></tr><tr><td>Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Common shareholders’ equity</td><td>$224,473</td><td>$222,368</td><td>$222,215</td><td>$223,201</td><td>$220,088</td><td>$216,766</td><td>$218,790</td><td>$218,225</td></tr><tr><td>Goodwill</td><td>-69,782</td><td>-69,792</td><td>-69,822</td><td>-69,842</td><td>-69,864</td><td>-69,903</td><td>-69,930</td><td>-69,945</td></tr><tr><td>Intangible assets (excluding MSRs)</td><td>-4,747</td><td>-4,992</td><td>-5,235</td><td>-5,474</td><td>-5,725</td><td>-5,993</td><td>-6,270</td><td>-6,549</td></tr><tr><td>Related deferred tax liabilities</td><td>2,019</td><td>2,077</td><td>2,100</td><td>2,165</td><td>2,231</td><td>2,296</td><td>2,360</td><td>2,425</td></tr><tr><td>Tangible common shareholders’ equity</td><td>$151,963</td><td>$149,661</td><td>$149,258</td><td>$150,050</td><td>$146,730</td><td>$143,166</td><td>$144,950</td><td>$144,156</td></tr><tr><td>Reconciliation of average shareholders’ equity to average tangible shareholders’ equity</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Shareholders’ equity</td><td>$243,448</td><td>$238,034</td><td>$235,797</td><td>$236,553</td><td>$233,415</td><td>$230,392</td><td>$235,063</td><td>$236,995</td></tr><tr><td>Goodwill</td><td>-69,782</td><td>-69,792</td><td>-69,822</td><td>-69,842</td><td>-69,864</td><td>-69,903</td><td>-69,930</td><td>-69,945</td></tr><tr><td>Intangible assets (excluding MSRs)</td><td>-4,747</td><td>-4,992</td><td>-5,235</td><td>-5,474</td><td>-5,725</td><td>-5,993</td><td>-6,270</td><td>-6,549</td></tr><tr><td>Related deferred tax liabilities</td><td>2,019</td><td>2,077</td><td>2,100</td><td>2,165</td><td>2,231</td><td>2,296</td><td>2,360</td><td>2,425</td></tr><tr><td>Tangible shareholders’ equity</td><td>$170,938</td><td>$165,327</td><td>$162,840</td><td>$163,402</td><td>$160,057</td><td>$156,792</td><td>$161,223</td><td>$162,926</td></tr><tr><td>Reconciliation of period-end common shareholders’ equity to period-end tangible common shareholders’ equity</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Common shareholders’ equity</td><td>$224,162</td><td>$220,768</td><td>$222,565</td><td>$218,536</td><td>$219,333</td><td>$218,967</td><td>$216,791</td><td>$218,513</td></tr><tr><td>Goodwill</td><td>-69,777</td><td>-69,784</td><td>-69,810</td><td>-69,842</td><td>-69,844</td><td>-69,891</td><td>-69,930</td><td>-69,930</td></tr><tr><td>Intangible assets (excluding MSRs)</td><td>-4,612</td><td>-4,849</td><td>-5,099</td><td>-5,337</td><td>-5,574</td><td>-5,843</td><td>-6,104</td><td>-6,379</td></tr><tr><td>Related deferred tax liabilities</td><td>1,960</td><td>2,019</td><td>2,078</td><td>2,100</td><td>2,166</td><td>2,231</td><td>2,297</td><td>2,363</td></tr><tr><td>Tangible common shareholders’ equity</td><td>$151,733</td><td>$148,154</td><td>$149,734</td><td>$145,457</td><td>$146,081</td><td>$145,464</td><td>$143,054</td><td>$144,567</td></tr><tr><td>Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Shareholders’ equity</td><td>$243,471</td><td>$238,681</td><td>$237,411</td><td>$231,888</td><td>$232,685</td><td>$232,282</td><td>$231,032</td><td>$237,293</td></tr><tr><td>Goodwill</td><td>-69,777</td><td>-69,784</td><td>-69,810</td><td>-69,842</td><td>-69,844</td><td>-69,891</td><td>-69,930</td><td>-69,930</td></tr><tr><td>Intangible assets (excluding MSRs)</td><td>-4,612</td><td>-4,849</td><td>-5,099</td><td>-5,337</td><td>-5,574</td><td>-5,843</td><td>-6,104</td><td>-6,379</td></tr><tr><td>Related deferred tax liabilities</td><td>1,960</td><td>2,019</td><td>2,078</td><td>2,100</td><td>2,166</td><td>2,231</td><td>2,297</td><td>2,363</td></tr><tr><td>Tangible shareholders’ equity</td><td>$171,042</td><td>$166,067</td><td>$164,580</td><td>$158,809</td><td>$159,433</td><td>$158,779</td><td>$157,295</td><td>$163,347</td></tr><tr><td>Reconciliation of period-end assets to period-end tangible assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Assets</td><td>$2,104,534</td><td>$2,123,613</td><td>$2,170,557</td><td>$2,149,851</td><td>$2,102,273</td><td>$2,126,653</td><td>$2,123,320</td><td>$2,174,819</td></tr><tr><td>Goodwill</td><td>-69,777</td><td>-69,784</td><td>-69,810</td><td>-69,842</td><td>-69,844</td><td>-69,891</td><td>-69,930</td><td>-69,930</td></tr><tr><td>Intangible assets (excluding MSRs)</td><td>-4,612</td><td>-4,849</td><td>-5,099</td><td>-5,337</td><td>-5,574</td><td>-5,843</td><td>-6,104</td><td>-6,379</td></tr><tr><td>Related deferred tax liabilities</td><td>1,960</td><td>2,019</td><td>2,078</td><td>2,100</td><td>2,166</td><td>2,231</td><td>2,297</td><td>2,363</td></tr><tr><td>Tangible assets</td><td>$2,032,105</td><td>$2,050,999</td><td>$2,097,726</td><td>$2,076,772</td><td>$2,029,021</td><td>$2,053,150</td><td>$2,049,583</td><td>$2,100,873</td></tr></table>
<table><tr><td> Dollars in Millions</td><td> 2007</td><td> 2006</td><td> 2005</td></tr><tr><td>Revenues</td><td>$3,090</td><td>$2,785</td><td>$2,436</td></tr><tr><td>Gross profit</td><td>2,379</td><td>2,156</td><td>1,875</td></tr><tr><td>Net income</td><td>1,070</td><td>942</td><td>709</td></tr><tr><td>Current assets</td><td>1,727</td><td>1,595</td><td>1,398</td></tr><tr><td>Current liabilities</td><td>1,727</td><td>1,595</td><td>1,398</td></tr></table>
<table><tr><td></td><td> Expiration Date</td><td> Total Capacity</td><td> Outstanding Borrowings</td><td> Unused Available Capacity</td></tr><tr><td></td><td></td><td colspan="3"> ($ in millions)</td></tr><tr><td> Long-term debt</td><td></td><td></td><td></td><td></td></tr><tr><td>Term loan facility</td><td>March 2012</td><td>$200.0</td><td>$200.0</td><td>$—</td></tr><tr><td>Senior notes</td><td>June 2017</td><td>124.1</td><td>124.1</td><td>—</td></tr><tr><td>Revolving credit facility</td><td>March 2012</td><td>500.0</td><td>—</td><td>500.0</td></tr><tr><td></td><td></td><td>$824.1</td><td>$324.1</td><td>$500.0</td></tr></table>

Question: What's the average of Net interest income of 2014 Quarters First, and Current assets of 2005 ?
Answer: 5741.5
Reasoning program: add(10085.0,1398.0), divide(#0,const_2)