Item 6.
Selected Financial Data.
(in millions of dollars, except per share and employee data)
## Table 0 ##
The Selected Financial Data should be read in conjunction with Item 7 and Item 8.
Part II Item 5.
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Performance Graph The graph below compares the cumulative total shareholder return of Altria Group, Inc. ’s common stock for the last ive years with the cumulative total return for the same period of the S&P 500 Index and the Altria Group, Inc.
Peer Group(1).
The graph assumes the investment of $100 in common stock and each of the indices as of the market close on December 31, 2011 and the reinvestment of all dividends on a quarterly basis.
## Table 1 ##
Source: Bloomberg - “Total Return Analysis” calculated on a daily basis and assumes reinvestment of dividends as of the ex-dividend date.
(1) In 2016, the Altria Group, Inc.
Peer Group consisted of U. S. -headquartered consumer product companies that are competitors to Altria Group, Inc. ’s tobacco operating companies subsidiaries or that have been selected on the basis of revenue or market capitalization: Campbell Soup Company, The Coca-Cola Company, Colgate-Palmolive Company, Conagra Brands, Inc. , General Mills, Inc. , The Hershey Company, Kellogg Company, Kimberly-Clark Corporation, The Kraft Heinz Company, Mondelēz International, Inc. , PepsiCo, Inc.  and Reynolds American Inc.
Note - On October 1, 2012, Kraft Foods Inc.  (KFT) spun off Kraft Foods Group, Inc.  (KRFT) to its shareholders and then changed its name from Kraft Foods Inc.  to Mondelēz International, Inc.  (MDLZ).
On July 2, 2015, Kraft Foods Group, Inc.  merged with and into a wholly owned subsidiary of H. J.  Heinz Holding Corporation, which was renamed The Kraft Heinz Company (KHC).
On June 12, 2015, Reynolds American Inc.  (RAI) acquired Lorillard, Inc.  (LO).
On November 9, 2016, ConAgra Foods, Inc.  (CAG) spun off Lamb Weston Holdings, Inc.  (LW) to its shareholders and then changed its name from ConAgra Foods, Inc.  to Conagra Brands, Inc.  (CAG).
Altria Group, Inc.  and Subsidiaries Notes to Consolidated Financial Statements The following assumptions were used to determine Altria Group, Inc. ’s net periodic benefit cost for the years ended December 31:
## Table 2 ##
Assumed health care cost trend rates have a significant effect on the amounts reported for the postretirement health care plans.
A one-percentage-point change in assumed health care cost trend rates would have had the following effects as of December 31, 2016:

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>2014</td><td>2013</td><td>2012</td><td>2011</td><td>2010</td></tr><tr><td>Summary of Operations:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net revenues</td><td>$24,522</td><td>$24,466</td><td>$24,618</td><td>$23,800</td><td>$24,363</td></tr><tr><td>Cost of sales</td><td>7,785</td><td>7,206</td><td>7,937</td><td>7,680</td><td>7,704</td></tr><tr><td>Excise taxes on products</td><td>6,577</td><td>6,803</td><td>7,118</td><td>7,181</td><td>7,471</td></tr><tr><td>Operating income</td><td>7,620</td><td>8,084</td><td>7,253</td><td>6,068</td><td>6,228</td></tr><tr><td>Interest and other debt expense, net</td><td>808</td><td>1,049</td><td>1,126</td><td>1,216</td><td>1,133</td></tr><tr><td>Earnings from equity investment in SABMiller</td><td>1,006</td><td>991</td><td>1,224</td><td>730</td><td>628</td></tr><tr><td>Earnings before income taxes</td><td>7,774</td><td>6,942</td><td>6,477</td><td>5,582</td><td>5,723</td></tr><tr><td>Pre-tax profit margin</td><td>31.7%</td><td>28.4%</td><td>26.3%</td><td>23.5%</td><td>23.5%</td></tr><tr><td>Provision for income taxes</td><td>2,704</td><td>2,407</td><td>2,294</td><td>2,189</td><td>1,816</td></tr><tr><td>Net earnings</td><td>5,070</td><td>4,535</td><td>4,183</td><td>3,393</td><td>3,907</td></tr><tr><td>Net earnings attributable to Altria Group, Inc.</td><td>5,070</td><td>4,535</td><td>4,180</td><td>3,390</td><td>3,905</td></tr><tr><td>Basic and Diluted EPS — net earnings attributable to Altria Group, Inc.</td><td>2.56</td><td>2.26</td><td>2.06</td><td>1.64</td><td>1.87</td></tr><tr><td>Dividends declared per share</td><td>2.00</td><td>1.84</td><td>1.70</td><td>1.58</td><td>1.46</td></tr><tr><td>Weighted average shares (millions) — Basic</td><td>1,978</td><td>1,999</td><td>2,024</td><td>2,064</td><td>2,077</td></tr><tr><td>Weighted average shares (millions) — Diluted</td><td>1,978</td><td>1,999</td><td>2,024</td><td>2,064</td><td>2,079</td></tr><tr><td>Capital expenditures</td><td>163</td><td>131</td><td>124</td><td>105</td><td>168</td></tr><tr><td>Depreciation</td><td>188</td><td>192</td><td>205</td><td>233</td><td>256</td></tr><tr><td>Property, plant and equipment, net</td><td>1,983</td><td>2,028</td><td>2,102</td><td>2,216</td><td>2,380</td></tr><tr><td>Inventories</td><td>2,040</td><td>1,879</td><td>1,746</td><td>1,779</td><td>1,803</td></tr><tr><td>Total assets</td><td>34,475</td><td>34,859</td><td>35,329</td><td>36,751</td><td>37,402</td></tr><tr><td>Long-term debt</td><td>13,693</td><td>13,992</td><td>12,419</td><td>13,089</td><td>12,194</td></tr><tr><td>Total debt</td><td>14,693</td><td>14,517</td><td>13,878</td><td>13,689</td><td>12,194</td></tr><tr><td>Total stockholders’ equity</td><td>3,010</td><td>4,118</td><td>3,170</td><td>3,683</td><td>5,195</td></tr><tr><td>Common dividends declared as a % of Basic and Diluted EPS</td><td>78.1%</td><td>81.4%</td><td>82.5%</td><td>96.3%</td><td>78.1%</td></tr><tr><td>Book value per common share outstanding</td><td>1.53</td><td>2.07</td><td>1.58</td><td>1.80</td><td>2.49</td></tr><tr><td>Market price per common share — high/low</td><td>51.67-33.80</td><td>38.58-31.85</td><td>36.29-28.00</td><td>30.40-23.20</td><td>26.22-19.14</td></tr><tr><td>Closing price per common share at year end</td><td>49.27</td><td>38.39</td><td>31.44</td><td>29.65</td><td>24.62</td></tr><tr><td>Price/earnings ratio at year end — Basic and Diluted</td><td>19</td><td>17</td><td>15</td><td>18</td><td>13</td></tr><tr><td>Number of common shares outstanding at year end (millions)</td><td>1,971</td><td>1,993</td><td>2,010</td><td>2,044</td><td>2,089</td></tr><tr><td>Approximate number of employees</td><td>9,000</td><td>9,000</td><td>9,100</td><td>9,900</td><td>10,000</td></tr></table>
<table><tr><td>Date</td><td>Altria Group, Inc.</td><td>Altria Group, Inc. Peer Group</td><td>S&P 500</td></tr><tr><td>December 2011</td><td>$100.00</td><td>$100.00</td><td>$100.00</td></tr><tr><td>December 2012</td><td>$111.77</td><td>$108.78</td><td>$115.99</td></tr><tr><td>December 2013</td><td>$143.69</td><td>$135.61</td><td>$153.55</td></tr><tr><td>December 2014</td><td>$193.28</td><td>$151.74</td><td>$174.55</td></tr><tr><td>December 2015</td><td>$237.92</td><td>$177.04</td><td>$176.94</td></tr><tr><td>December 2016</td><td>$286.61</td><td>$192.56</td><td>$198.09</td></tr></table>
<table><tr><td></td><td colspan="3">Pension</td><td colspan="3">Postretirement</td></tr><tr><td></td><td>2016</td><td>2015</td><td>2014</td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>Discount rates:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Service cost</td><td>4.7%</td><td>4.1%</td><td>4.9%</td><td>4.5%</td><td>4.0%</td><td>4.8%</td></tr><tr><td>Interest cost</td><td>3.6</td><td>4.1</td><td>4.9</td><td>3.4</td><td>4.0</td><td>4.8</td></tr><tr><td>Expected rate of return on plan assets</td><td>8.0</td><td>8.0</td><td>8.0</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Rate of compensation increase</td><td>4.0</td><td>4.0</td><td>4.0</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Health care cost trend rate</td><td>—</td><td>—</td><td>—</td><td>6.5</td><td>7.0</td><td>7.0</td></tr></table>

Question: what is the roi of an investment in s&p500 from december 2011 to december 2013?
Answer: 0.5355
Reasoning program: subtract(153.55,const_100), divide(#0,const_100)