Entergy Corporation and Subsidiaries Notes to Financial Statements 132 FERC audit report, System Energy initially recorded as a net regulatory asset the difference between the recovery of the lease payments and the amounts expensed for interest and depreciation and continues to record this difference as a regulatory asset or liability on an ongoing basis, resulting in a zero net balance for the regulatory asset at the end of the lease term.
The amount was a net regulatory asset (liability) of ($2.0) million and $60.6 million as of December 31, 2011 and 2010, respectively.
As of December 31, 2011, System Energy had future minimum lease payments (reflecting an implicit rate of 5.13%), which are recorded as long-term debt as follows:
## Table 0 ##
Market Risk Related to Equity Prices We have exposure to equity risk through asset/liability mismatches, including our investments in equity securities held in our general account investment portfolio and unhedged exposure in our insurance liabilities, principally related to certain variable annuity living benefit feature embedded derivatives.
Our equity-based derivatives primarily hedge the equity risk embedded in these living benefit feature embedded derivatives, and are also part of our capital hedging program.
Changes in equity prices create risk that the resulting changes in asset values will differ from the changes in the value of the liabilities relating to the underlying or hedged products.
Additionally, changes in equity prices may impact other items including, but not limited to, the following: ?
Asset-based fees earned on assets under management or contractholder account value; ?
Estimated total gross profits and the amortization of deferred policy acquisition and other costs; and ?
Net exposure to the guarantees provided under certain products.
We manage equity risk against benchmarks in respective markets.
We benchmark our return on equity holdings against a blend of market indices, mainly the S&P 500 and Russell 2000 for U. S.  equities.
We benchmark foreign equities against the Tokyo Price Index, and the MSCI EAFE, a market index of European, Australian, and Far Eastern equities.
We target price sensitivities that approximate those of the benchmark indices.
We estimate our equity risk from a hypothetical 10% decline in equity benchmark market levels.
The following table sets forth the net estimated potential loss in fair value from such a decline as of December 31, 2016 and 2015.
While these scenarios are for illustrative purposes only and do not reflect our expectations regarding future performance of equity markets or of our equity portfolio, they represent near-term reasonably possible hypothetical changes that illustrate the potential impact of such events.
These scenarios consider only the direct impact on fair value of declines in equity benchmark market levels and not changes in asset-based fees recognized as revenue, changes in our estimates of total gross profits used as a basis for amortizing deferred policy acquisition and other costs, or changes in any other assumptions such as market volatility or mortality, utilization or persistency rates in our variable annuity contracts that could also impact the fair value of our living benefit features.
In addition, these scenarios do not reflect the impact of basis risk, such as potential differences in the performance of the investment funds underlying the variable annuity products relative to the market indices we use as a basis for developing our hedging strategy.
The impact of basis risk could result in larger differences between the change in fair value of the equity-based derivatives and the related living benefit features in comparison to these scenarios.
In calculating these amounts, we exclude separate account equity securities.
## Table 1 ##
(1) Includes equity securities classified as “trading account assets supporting insurance liabilities” and other equity securities classified as trading securities under U. S.  GAAP, but are held for “other than trading” activities in our segments that offer insurance, retirement and annuities products.
(2) The notional and fair value of equity-based derivatives and the fair value of variable annuity and other living benefit feature embedded derivatives are also reflected in amounts under “Market Risk Related to Interest Rates” above, and are not cumulative.
(3) Excludes any offsetting impact of derivative instruments purchased to hedge changes in the embedded derivatives.
Amounts reported net of third-party reinsurance.
Market Risk Related to Foreign Currency Exchange Rates As a U. S. -based company with significant business operations outside of the U. S. , particularly in Japan, we are exposed to foreign currency exchange rate risk related to these operations, as well as in our general account investment portfolio and other proprietary investment portfolios.
For our international insurance operations, changes in foreign currency exchange rates create risk that we may experience volatility in the U. S.  dollar-equivalent earnings and equity of these operations.
We actively manage this risk through various hedging strategies, including the use of foreign currency hedges and through holding U. S.  dollar-denominated securities in the investment portfolios of certain of these operations.
Additionally, our Japanese insurance operations offer a variety of non-yen denominated products which are supported by investments in corresponding currencies.
While these non-yen denominated assets are economically matched to the currency of the product liabilities, the accounting treatment may differ for changes in the value of these assets and liabilities due to moves in foreign currency exchange rates, resulting in volatility in reported U. S.  GAAP earnings.
This volatility has been mitigated by disaggregating the U. S.  and Australian dollar-denominated businesses in Gibraltar Life into separate divisions, each with its own functional currency that aligns with the underlying products and investments.
For certain of our international insurance operations outside of Japan, we elect to not hedge the risk of changes in our equity investments due to foreign exchange rate movements.
For further information, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Impact of Foreign Currency Exchange Rates—Impact of products denominated in non-local currencies on U. S.  GAAP earnings” above.
For our domestic general account investment portfolios supporting our U. S.  insurance operations and other proprietary investment portfolios, our foreign currency exchange rate risk arises primarily from investments that are denominated in foreign currencies.
We
PRUDENTIAL FINANCIAL, INC.  Notes to Consolidated Financial Statements The Company’s liability for future policy benefits is also inclusive of liabilities for guaranteed benefits related to certain long-duration life and annuity contracts.
Liabilities for guaranteed benefits with embedded derivative features are primarily in “other contract liabilities” in the table above.
The remaining liabilities for guaranteed benefits are primarily reflected with the underlying contract.
See Note 11 for additional information regarding liabilities for guaranteed benefits related to certain long-duration life and annuity contracts.
Premium deficiency reserves included in “Future policy benefits” are established, if necessary, when the liability for future policy benefits plus the present value of expected future gross premiums are determined to be insufficient to provide for expected future policy benefits and expenses.
Premium deficiency reserves have been recorded for the group single premium annuity business, which consists of limited-payment, long-duration traditional, non-participating annuities; structured settlements; single premium immediate annuities with life contingencies; long-term care; and for certain individual health policies.
Additionally, in certain instances the policyholder liability for a particular line of business may not be deficient in the aggregate to trigger loss recognition, but the pattern of earnings may be such that profits are expected to be recognized in earlier years followed by losses in later years.
In these situations, accounting standards require that an additional PFL liability be recognized by an amount necessary to sufficiently offset the losses that would be recognized in later years.
A PFL liability is included in “Future policy benefits” and is predominately associated with certain interest-sensitive life contracts.
Unpaid claims and claim adjustment expenses primarily reflect the Company’s estimate of future disability claim payments and expenses as well as estimates of claims incurred but not yet reported as of the balance sheet dates related to group disability products.
Unpaid claim liabilities that are discounted use interest rates ranging from 2.6% to 6.4%.
Policyholders’ Account Balances Policyholders’ account balances at December 31 for the years indicated are as follows:
## Table 2 ##
Policyholders’ account balances primarily represent an accumulation of account deposits plus credited interest less withdrawals, expense charges and mortality charges, if applicable.
These policyholders’ account balances also include provisions for benefits under non-life contingent payout annuities.
Included in “Funding agreements” at December 31, 2016 and 2015 are $3,758 million and $2,957 million, respectively, related to the Company’s Funding Agreement Notes Issuance Program (“FANIP”).
Under this program, which has a maximum authorized amount of $15 billion of medium-term notes and $3 billion of commercial paper, Delaware statutory trusts issue short-term commercial paper and/or medium-term notes to investors that are secured by funding agreements issued to the trusts by Prudential Insurance.
The outstanding commercial paper and notes have fixed or floating interest rates that range from 0.0% to 2.6% and original maturities ranging from seven days to five years.
Included in the amounts at December 31, 2016 and 2015 is the medium-term note liability, which is carried at amortized cost, of $3,210 million and $2,958 million, respectively and short-term note liability of $550 million and $0, respectively.
Also included in “Funding agreements” are collateralized funding agreements issued to the Federal Home Loan Bank of New York (“FHLBNY”) of $1,001 million for both December 31, 2016 and 2015.
These obligations, which are carried at amortized cost, have fixed or floating interest rates that range from 1.1% to 1.7% and original maturities ranging from four to seven years.
For additional details on the FHLBNY program, see Note 14.
Interest crediting rates range from 0% to 7.5% for interest-sensitive life contracts and from 0% to 13.3% for contracts other than interest-sensitive life.
Less than 1% of policyholders’ account balances have interest crediting rates in excess of 8%.11.
CERTAIN LONG-DURATION CONTRACTS WITH GUARANTEES The Company issues variable annuity contracts through its separate accounts for which investment income and investment gains and losses accrue directly to, and investment risk is borne by, the contractholder.
The Company also issues variable annuity contracts with general and separate account options where the Company contractually guarantees to the contractholder a return of no less than total deposits made to the contract adjusted for any partial withdrawals (“return of net deposits”).
In certain of these variable annuity contracts, the Company also contractually guarantees to the contractholder a return of no less than (1) total deposits made to the contract adjusted for any partial withdrawals plus a minimum return (“minimum return”), and/or (2) the highest contract value on a specified date adjusted for any withdrawals (“contract value”).
These guarantees include benefits that are payable in the event of death, annuitization or at specified dates during the accumulation period and withdrawal and income benefits payable during specified periods.
The Company also issues annuity contracts with market value adjusted investment options (“MVAs”), which provide for a return of principal plus a fixed rate of return if held-to-maturity, or, alternatively, a “market adjusted value” if surrendered prior to maturity or if funds are reallocated to other
PRUDENTIAL FINANCIAL, INC.  Notes to Consolidated Financial Statements Reconciliation of select financial information The tables below present certain financial information for the Company’s reportable segments:
## Table 3 ##
(1) Prior period amounts are presented on a basis consistent with the current period presentation, reflecting the adoption of ASU 2015-03
## Table 4 ##
(1) As a result of the Class B Repurchase, for the year ended December 31, 2016, the Closed Block, along with certain related assets and liabilities, comprises the Closed Block division, which is accounted for as a divested business that is reported separately from the divested businesses that are included in Corporate and Other operations.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>Amount (In Thousands)</td></tr><tr><td>2012</td><td>$49,959</td></tr><tr><td>2013</td><td>50,546</td></tr><tr><td>2014</td><td>51,637</td></tr><tr><td>2015</td><td>52,253</td></tr><tr><td>2016</td><td>-</td></tr><tr><td>Years thereafter</td><td>-</td></tr><tr><td>Total</td><td>204,395</td></tr><tr><td>Less: Amount representing interest</td><td>25,611</td></tr><tr><td>Present value of net minimum lease payments</td><td>$178,784</td></tr></table>
<table><tr><td></td><td colspan="3">As of December 31, 2016</td><td colspan="3">As of December 31, 2015</td></tr><tr><td></td><td>Notional</td><td>FairValue</td><td>HypotheticalChange inFair Value</td><td>Notional</td><td>FairValue</td><td>HypotheticalChange inFair Value</td></tr><tr><td></td><td colspan="6">(in millions)</td></tr><tr><td>Equity securities-1</td><td></td><td>$12,139</td><td>$-1,214</td><td></td><td>$11,626</td><td>$-1,163</td></tr><tr><td>Equity-based derivatives-2</td><td>$31,558</td><td>-285</td><td>1,137</td><td>$68,011</td><td>-38</td><td>1,917</td></tr><tr><td>Variable annuity and other living benefit feature embedded derivatives-2(3)</td><td></td><td>-8,238</td><td>-1,116</td><td></td><td>-8,434</td><td>-1,355</td></tr><tr><td>Net estimated potential loss</td><td></td><td></td><td>$-1,193</td><td></td><td></td><td>$-601</td></tr></table>
<table><tr><td></td><td>2016</td><td>2015</td></tr><tr><td></td><td colspan="2">(in millions)</td></tr><tr><td>Individual annuities</td><td>$40,338</td><td>$37,384</td></tr><tr><td>Group annuities</td><td>28,350</td><td>27,141</td></tr><tr><td>Guaranteed investment contracts and guaranteed interest accounts</td><td>14,528</td><td>14,122</td></tr><tr><td>Funding agreements</td><td>4,794</td><td>3,997</td></tr><tr><td>Interest-sensitive life contracts</td><td>34,452</td><td>32,502</td></tr><tr><td>Dividend accumulation and other</td><td>22,743</td><td>21,638</td></tr><tr><td>Total policyholders’ account balances</td><td>$145,205</td><td>$136,784</td></tr></table>
<table><tr><td></td><td colspan="2">As of December 31,</td></tr><tr><td></td><td>2016</td><td>2015-1</td></tr><tr><td></td><td colspan="2">(in millions)</td></tr><tr><td>Total Assets:</td><td></td><td></td></tr><tr><td>Individual Annuities</td><td>$170,861</td><td>$169,447</td></tr><tr><td>Retirement</td><td>173,509</td><td>171,183</td></tr><tr><td>Asset Management</td><td>49,255</td><td>54,491</td></tr><tr><td>Total U.S. Retirement Solutions and Investment Management division</td><td>393,625</td><td>395,121</td></tr><tr><td>Individual Life</td><td>77,524</td><td>71,856</td></tr><tr><td>Group Insurance</td><td>40,642</td><td>39,344</td></tr><tr><td>Total U.S. Individual Life and Group Insurance division</td><td>118,166</td><td>111,200</td></tr><tr><td>International Insurance</td><td>197,119</td><td>175,153</td></tr><tr><td>Total International Insurance division</td><td>197,119</td><td>175,153</td></tr><tr><td>Corporate and Other operations</td><td>13,001</td><td>13,654</td></tr><tr><td>Total Corporate and Other</td><td>13,001</td><td>13,654</td></tr><tr><td>Closed Block</td><td>62,051</td><td>62,127</td></tr><tr><td>Total Closed Block division</td><td>62,051</td><td>62,127</td></tr><tr><td>Total per Consolidated Statements of Financial Position</td><td>$783,962</td><td>$757,255</td></tr></table>
<table><tr><td></td><td colspan="7">Year Ended December 31, 2016</td></tr><tr><td></td><td>Revenues</td><td>NetInvestmentIncome</td><td>Policyholders’Benefits</td><td>InterestCredited toPolicyholders’AccountBalances</td><td>Dividends toPolicyholders</td><td>InterestExpense</td><td>Amortizationof DAC</td></tr><tr><td></td><td colspan="7">(in millions)</td></tr><tr><td>Individual Annuities</td><td>$4,666</td><td>$698</td><td>$306</td><td>$362</td><td>$0</td><td>$71</td><td>$484</td></tr><tr><td>Retirement</td><td>12,876</td><td>4,263</td><td>9,328</td><td>1,473</td><td>0</td><td>19</td><td>33</td></tr><tr><td>Asset Management</td><td>2,961</td><td>80</td><td>0</td><td>0</td><td>0</td><td>15</td><td>15</td></tr><tr><td>Total U.S. Retirement Solutions and Investment Management division</td><td>20,503</td><td>5,041</td><td>9,634</td><td>1,835</td><td>0</td><td>105</td><td>532</td></tr><tr><td>Individual Life</td><td>5,355</td><td>1,822</td><td>2,750</td><td>680</td><td>35</td><td>583</td><td>115</td></tr><tr><td>Group Insurance</td><td>5,343</td><td>608</td><td>4,032</td><td>263</td><td>0</td><td>5</td><td>6</td></tr><tr><td>Total U.S. Individual Life and Group Insurance division</td><td>10,698</td><td>2,430</td><td>6,782</td><td>943</td><td>35</td><td>588</td><td>121</td></tr><tr><td>International Insurance</td><td>21,009</td><td>4,759</td><td>13,183</td><td>920</td><td>49</td><td>8</td><td>1,068</td></tr><tr><td>Total International Insurance division</td><td>21,009</td><td>4,759</td><td>13,183</td><td>920</td><td>49</td><td>8</td><td>1,068</td></tr><tr><td>Corporate and Other operations</td><td>-636</td><td>465</td><td>26</td><td>0</td><td>0</td><td>614</td><td>-49</td></tr><tr><td>Total Corporate and Other</td><td>-636</td><td>465</td><td>26</td><td>0</td><td>0</td><td>614</td><td>-49</td></tr><tr><td>Total</td><td>51,574</td><td>12,695</td><td>29,625</td><td>3,698</td><td>84</td><td>1,315</td><td>1,672</td></tr><tr><td>Reconciling items:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Realized investment gains (losses), net, and related adjustments</td><td>989</td><td>-31</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Charges related to realized investment gains (losses), net</td><td>19</td><td>0</td><td>131</td><td>-50</td><td>0</td><td>0</td><td>168</td></tr><tr><td>Investment gains (losses) on trading account assets supporting insurance liabilities, net</td><td>-17</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Change in experience-rated contractholder liabilities due to assets value changes</td><td>0</td><td>0</td><td>0</td><td>-21</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Divested businesses:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Closed Block division-1</td><td>5,669</td><td>2,578</td><td>3,282</td><td>134</td><td>1,941</td><td>2</td><td>37</td></tr><tr><td>Other divested businesses</td><td>602</td><td>278</td><td>594</td><td>0</td><td>0</td><td>3</td><td>0</td></tr><tr><td>Equity in earnings of operating joint ventures and earnings attributable to noncontrolling interests</td><td>-57</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td><td>0</td></tr><tr><td>Total per Consolidated Statements of Operations</td><td>$58,779</td><td>$15,520</td><td>$33,632</td><td>$3,761</td><td>$2,025</td><td>$1,320</td><td>$1,877</td></tr></table>

Question: What will Total International Insurance division as of December 31 be like in 2017 if it develops with the same increasing rate as in 2016? (in million)
Answer: 221840
Reasoning program: subtract(197119,175153), divide(#0,175153), add(const_1,#1), multiply(197119,#2)