Performance Graph The performance graph below shows the five-year cumulative total stockholder return on Applied common stock during the period from October 28, 2012 through October 29, 2017.
This is compared with the cumulative total return of the Standard & Poor’s 500 Stock Index and the RDG Semiconductor Composite Index over the same period.
The comparison assumes $100 was invested on October 28, 2012 in Applied common stock and in each of the foregoing indices and assumes reinvestment of dividends, if any.
Dollar amounts in the graph are rounded to the nearest whole dollar.
The performance shown in the graph represents past performance and should not be considered an indication of future performance.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* Among Applied Materials, Inc. , the S&P 500 Index and the RDG Semiconductor Composite Index
## Table 0 ##
Dividends During each of fiscal 2017, 2016 and 2015, Applied’s Board of Directors declared four quarterly cash dividends in the amount of $0.10 per share.
Applied currently anticipates that cash dividends will continue to be paid on a quarterly basis, although the declaration of any future cash dividend is at the discretion of the Board of Directors and will depend on Applied’s financial condition, results of operations, capital requirements, business conditions and other factors, as well as a determination by the Board of Directors that cash dividends are in the best interests of Applied’s stockholders.
1 CMS Energy and Consumers have reclassified certain prior-period amounts to conform to the presentation in the current period.
Consumers Electric Utility Results of Operations
## Table 1 ##
Following is a discussion of significant changes to net income available to common stockholders for 2017 versus 2016 and for 2016 versus 2015.
Electric Deliveries and Rate Increases: For 2017, electric delivery revenues increased $55 million compared with 2016.
This change reflected $82 million from a March 2017 rate increase and from an October 2017 self-implemented rate increase.
Also contributing to the change were $13 million in higher revenues associated with the energy waste reduction program and a $10 million increase in the financial incentive associated with energy waste reduction performance standards.
These increases were offset partially by a $45 million decrease in sales due primarily to mild weather and a $5 million reduction in other revenues.
Deliveries to end-use customers were 37.4 billion kWh in 2017 and 37.9 billion kWh in 2016.
For 2016, electric delivery revenues increased $122 million compared with 2015.
This change reflected $91 million from a December 2015 rate increase and from a September 2016 self-implemented rate increase, and a $62 million increase in sales due primarily to favorable weather.
These increases were offset partially by a $25 million net decrease in securitization revenue, reflecting the conclusion in October 2015 of Consumers’ 2001 securitization program, and a $6 million decrease in other revenues.
Deliveries to end-use customers were 37.9 billion kWh in 2016 and 37.3 billion kWh in 2015.
Maintenance and Other Operating Expenses: For 2017, maintenance and other operating expenses increased $7 million compared with 2016.
This change reflected increases of $15 million in service restoration costs following severe storms, $13 million in energy waste reduction program costs, $8 million in information technology expenses, $6 million in demand response program costs, and $3 million in other operating and maintenance expenses.
Also contributing to the change was the absence, in 2017, of a $4 million benefit associated with a Michigan use tax settlement in 2016.
These increases were offset partially by $19 million in lower costs at Consumers’ coal-fueled electric generating plants, due in part to the retirement of seven electric generating units in April 2016.
Also contributing to the change were a $10 million reduction in postretirement benefit costs, a $7 million reduction in meter reading expense reflecting the implementation of smart meters, and an absence in 2017 of a $6 million charge associated with a 2016 voluntary separation program.
For 2016, maintenance and other operating expenses decreased $5 million compared with 2015.
This change reflected a $27 million reduction in expenses at the seven coal-fueled electric generating units that Consumers retired in April 2016.
Also contributing to the change were a $13 million reduction in
We announced a combination of price increases and weight changes on certain JOLLY RANCHER and TWIZZLERS candy and chocolate packaged candy items in November 2005.
These changes went into effect in December 2005 and early 2006 and represented a weighted-average price increase of approximately one percent over the entire domestic product line when fully effective in the second quarter of 2006.
In December 2004, we announced an increase in the wholesale prices of approximately half of our domestic confectionery line.
Changes that were effective in January 2005 represented a weighted-average increase of approximately six percent on our standard bar, king-size bar, 6-pack and vending lines.
Changes that were effective in February 2005 represented a weighted-average price increase of approximately four percent on packaged candy.
The price increases announced in December 2004 represented an average increase of three percent over the entire domestic product line.
Raw Materials Cocoa is the most significant raw material we use to produce our chocolate products.
We buy a mix of cocoa beans and cocoa products, including cocoa liquor, cocoa butter and cocoa powder, to meet manufacturing requirements.
Cocoa beans and cocoa products are purchased directly from third party suppliers.
Cocoa beans are grown principally in Far Eastern, West African and South American equatorial regions.
West Africa accounts for approximately 70 percent of the world’s supply of cocoa beans.
Cocoa beans are not uniform, and the various grades and varieties reflect the diverse agricultural practices and natural conditions found in many growing areas.
Historically there have been instances of weather catastrophes, crop disease, civil disruptions, embargoes and other problems in cocoa-producing countries that have caused price fluctuations, but have never resulted in total loss of a particular producing country’s cocoa crop and/or exports.
In the event that such a disruption would occur in any given country, we believe cocoa from other producing countries and from current physical cocoa stocks in consuming countries would provide a significant supply buffer.
Cocoa beans are processed to produce cocoa liquor, cocoa butter and cocoa powder.
Beginning in 2008, we will predominately purchase cocoa products to meet our manufacturing requirements rather than processing cocoa beans.
This change to our manufacturing process is the result of a comprehensive, supply chain transformation program to enhance manufacturing, sourcing and customer service capabilities that we initiated in 2007, along with ingredient sourcing arrangements entered into during 2007.
During 2007, cocoa prices traded in a range between 74￠ and 95￠ per pound, based on the New York Board of Trade futures contract.
The table below shows annual average cocoa prices, and the highest and lowest monthly averages for each of the calendar years indicated.
The prices are the monthly average of the quotations at noon of the three active futures trading contracts closest to maturity on the New York Board of Trade.
## Table 2 ##
Source: International Cocoa Organization Quarterly Bulletin of Cocoa Statistics Our costs will not necessarily reflect market price fluctuations because of our forward purchasing practices, premiums and discounts reflective of varying delivery times, and supply and demand for our specific varieties and grades of cocoa beans, cocoa liquor, cocoa butter and cocoa powder.
As a result, the average futures contract prices are not necessarily indicative of our average cost of cocoa beans or cocoa products.
Management’s assessments of the recoverability and impairment tests of noncurrent assets involve critical accounting estimates.
These estimates require significant management judgment, include inherent uncertainties and are often interdependent; therefore, they do not change in isolation.
Factors that management must estimate include, among others, the economic life of the asset, sales volume, prices, inflation, cost of capital, marketing spending, foreign currency exchange rates, tax rates and capital spending.
These factors are even more difficult to predict when global financial markets are highly volatile.
The estimates we use when assessing the recoverability of noncurrent assets are consistent with those we use in our internal planning.
When performing impairment tests, we estimate the fair values of the assets using management’s best assumptions, which we believe would be consistent with what a hypothetical marketplace participant would use.
Estimates and assumptions used in these tests are evaluated and updated as appropriate.
The variability of these factors depends on a number of conditions, including uncertainty about future events, and thus our accounting estimates may change from period to period.
If other assumptions and estimates had been used when these tests were performed, impairment charges could have resulted.
As mentioned above, these factors do not change in isolation; and therefore, we do not believe it is practicable to present the impact of changing a single factor.
Furthermore, if management uses different assumptions or if different conditions occur in future periods, future impairment charges could result.
Our Company faces many uncertainties and risks related to various economic, political and regulatory environments in the countries in which we operate, particularly in developing or emerging markets.
Refer to the heading ‘‘Our Business — Challenges and Risks,’’ above, and ‘‘Item 1A.
Risk Factors’’ in Part I of this report.
As a result, management must make numerous assumptions which involve a significant amount of judgment when completing recoverability and impairment tests of noncurrent assets in various regions around the world.
Investments in Equity and Debt Securities The carrying values of our investments in equity securities are determined using the equity method, the cost method or the fair value method.
Refer to the heading ‘‘Basis of Presentation,’’ above, for information related to how the carrying values of our equity method investments are determined.
We account for investments in companies that we do not control or account for under the equity method either at fair value or under the cost method, as applicable.
Investments in equity securities are carried at fair value, if the fair value of the security is readily determinable.
Equity investments carried at fair value are classified as either trading or available-for-sale securities.
Realized and unrealized gains and losses on trading securities and realized gains and losses on available-for-sale securities are included in net income.
Unrealized gains and losses, net of deferred taxes, on available-for-sale securities are included in our consolidated balance sheets as a component of accumulated other comprehensive income (loss) (‘‘AOCI’’).
Trading securities are reported as either marketable securities or other assets in our consolidated balance sheets.
Securities classified as available-for-sale are reported as either marketable securities or other investments in our consolidated balance sheets, depending on the length of time we intend to hold the investment.
Investments in equity securities that do not qualify for fair value accounting are accounted for under the cost method.
In accordance with the cost method, our initial investment is recorded at cost and we record dividend income when applicable dividends are declared.
Cost method investments are reported as other investments in our consolidated balance sheets.
Our investments in debt securities are carried at either amortized cost or fair value.
Investments in debt securities that the Company has the positive intent and ability to hold to maturity are carried at amortized cost and classified as held-to-maturity.
Investments in debt securities that are not classified as held-to-maturity are carried at fair value and classified as either trading or available-for-sale.
The following table presents the carrying values of our investments in equity and debt securities (in millions):

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>10/28/2012</td><td>10/27/2013</td><td>10/26/2014</td><td>10/25/2015</td><td>10/30/2016</td><td>10/29/2017</td></tr><tr><td>Applied Materials</td><td>100.00</td><td>171.03</td><td>207.01</td><td>165.34</td><td>293.64</td><td>586.91</td></tr><tr><td>S&P 500 Index</td><td>100.00</td><td>127.18</td><td>149.14</td><td>156.89</td><td>163.97</td><td>202.72</td></tr><tr><td>RDG Semiconductor Composite Index</td><td>100.00</td><td>131.94</td><td>167.25</td><td>160.80</td><td>193.36</td><td>288.96</td></tr></table>
<table><tr><td>Years Ended December 31</td><td>2017</td><td>2016</td><td>Change</td><td>2016</td><td>2015</td><td>In Millions Change</td></tr><tr><td>Net Income Available to Common Stockholders</td><td>$455</td><td>$458</td><td>$-3</td><td>$458</td><td>$437</td><td>$21</td></tr><tr><td><i>Reasons for the change</i></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Electric deliveries and rate increases</td><td></td><td></td><td>$55</td><td></td><td></td><td>$122</td></tr><tr><td>Power supply costs and related revenue</td><td></td><td></td><td>3</td><td></td><td></td><td>-3</td></tr><tr><td>Maintenance and other operating expenses</td><td></td><td></td><td>-7</td><td></td><td></td><td>5</td></tr><tr><td>Depreciation and amortization</td><td></td><td></td><td>-51</td><td></td><td></td><td>-36</td></tr><tr><td>General taxes</td><td></td><td></td><td>6</td><td></td><td></td><td>-15</td></tr><tr><td>Other income, net of expenses</td><td></td><td></td><td>-4</td><td></td><td></td><td>-11</td></tr><tr><td>Interest charges</td><td></td><td></td><td>-6</td><td></td><td></td><td>-19</td></tr><tr><td>Income taxes</td><td></td><td></td><td>1</td><td></td><td></td><td>-22</td></tr><tr><td>Total change</td><td></td><td></td><td>$-3</td><td></td><td></td><td>$21</td></tr></table>
<table><tr><td></td><td colspan="5"> Cocoa Futures Contract Prices  (dollars perpound)</td></tr><tr><td></td><td> 2008</td><td> 2007</td><td> 2006</td><td> 2005</td><td> 2004</td></tr><tr><td>Annual Average</td><td>$1.19</td><td>$.86</td><td>$.70</td><td>$.68</td><td>$.69</td></tr><tr><td>High</td><td>1.50</td><td>.95</td><td>.75</td><td>.79</td><td>.77</td></tr><tr><td>Low</td><td>.86</td><td>.75</td><td>.67</td><td>.64</td><td>.62</td></tr></table>

Question: If Net Income Available to Common Stockholders develops with the same growth rate in 2017, what will it reach in 2018? (in million)
Answer: 452.02
Reasoning program: divide(-3,458), add(1,#0), multiply(455,#1)