The table below presents estimated capital costs that are based on current technology to comply with the federal Clean Air Interstate Rule and related state implementation plans through 2018 as well as federal ambient air quality standards including ozone and fine particulates, and the federal Clean Air Visibility rule.
The estimates described below could change depending upon additional federal or state requirements, the implementation of any revisions to the federal Clean Air Interstate Rule, the requirements under a mercury MACT standard, whether the variance or rule amendment request with respect to the Illinois MPS discussed above is granted, new technology, variations in costs of material or labor, or alternative compliance strategies, among other reasons.
The timing of estimated capital costs may also be influenced by whether emission allowances are used to comply with any future rules, thereby deferring capital investment.
## Table 0 ##
(a) UE’s expenditures are expected to be recoverable in rates over time.
See Note 15 – Commitments and Contingencies to our financial statements under Part II, Item 8, of this report for a further discussion of environmental matters.
Cash Flows from Financing Activities 2008 versus 2007 During the year ended December 31, 2008, the Ameren Companies issued $1.9 billion of senior debt.
The proceeds were used to repurchase, redeem and fund maturities of $842 million of long-term debt, to reduce short-term borrowings, and to fund capital expenditures and other working capital needs at UE, CIPS, Genco, CILCO, and IP.
During the year ended December 31, 2007, net short-term debt borrowings of $860 million and long-term borrowings of $674 million were used to fund $488 million of maturities of long-term debt, to fund working capital needs at Ameren subsidiaries and to build liquidity during a period of legislative uncertainty in Illinois.
Additionally, CILCO redeemed the remaining shares of its 5.85% Class A preferred stock to complete the mandatory sinking fund redemption requirement resulting in a $16 million use of cash during 2008 compared with 2007.
Benefiting 2008, compared with 2007, was a $63 million increase in proceeds from the issuance of Ameren common stock, which resulted from increased sales through Ameren’s 401(k) plan and DRPlus.
UE’s net cash from financing activities increased in the year ended December 31, 2008, compared with the year ended December 31, 2007.
During 2008, UE used $699 million in proceeds from the issuance of senior secured notes to redeem outstanding auction-rate environmental improvement revenue refunding bonds that had adjusted to higher rates as a result of the collapse of the auction-rate securities market, and to fund the current maturity of UE’s 6.75% first mortgage bonds.
Additionally, net short-term borrowings increased $321 million.
These borrowings were primarily used to fund working capital needs and capital expenditures.
In 2007, UE issued $424 million in senior secured notes and received a $380 million capital contribution from Ameren to fund working capital requirements and to reduce net short-term debt borrowings.
CIPS had a net use of cash from financing activities in 2008, compared with a net source of cash in 2007.
This change was because CIPS used net money pool borrowings and existing cash to fund a net reduction in short-term debt, to redeem $35 million of auction-rate environmental improvement revenue refunding bonds that had adjusted to higher rates as a result of the collapse of the auction-rate securities market, and to fund the maturity of $15 million of its 5.375% senior secured notes during 2008.
In 2007, CIPS used net short-term debt borrowings of $90 million to fund working capital needs and build liquidity and to fund $40 million of common stock dividends.
Genco issued $300 million of 7.00% senior unsecured notes during 2008, which resulted in a net source of cash from financing activities compared with a net use of cash in 2007.
The proceeds from the issuance were used to fund capital expenditures and other working capital requirements, including a net reduction of $200 million of short-term borrowings during 2008 compared with 2007.
CILCORP’s and CILCO’s cash provided by financing activities decreased in 2008 compared with 2007.
This decrease was primarily the result of CILCORP’s and CILCO’s net repayments of short-term borrowings during 2008 compared with 2007.
These repayments were funded by a net increase in money pool borrowings of $98 million, primarily at AERG, and CILCO’s issuance of $150 million of its 8.875% senior secured notes.
Partially offsetting the decrease were reduced redemptions and maturities of longterm debt in 2008.
During 2008, $19 million of auction-rate environmental improvement revenue refunding bonds that had adjusted to higher rates as a result of the collapse of the auction-rate securities market were redeemed at CILCO.
In 2007, $50 million of CILCO’s 7.50% bonds matured.
Also benefiting cash flows for the year ended December 31, 2008, were net borrowings of a $150 million direct loan from Ameren at CILCORP compared with $71 million net repayments during 2007.
for one year.
Subject to certain exceptions, the Company also offers a three-year limited warranty to end users for those CPU and APU products purchased as individually packaged products, commonly referred to as “processors in a box”, and for PC workstation products.
The Company also offered extended limited warranties to certain customers of “tray” microprocessor products and/or workstation graphics or server products who have written agreements with the Company and target their computer systems at the commercial and/or embedded markets.
Changes in the Company’s estimated liability for product warranty during the years ended December 30, 2017 and December 31, 2016 are as follows:
## Table 1 ##
In addition to product warranties, the Company from time to time in its normal course of business indemnifies other parties with whom it enters into contractual relationships, including customers, lessors and parties to other transactions with the Company, with respect to certain matters.
In these limited matters, the Company has agreed to hold certain third parties harmless against specific types of claims or losses such as those arising from a breach of representations or covenants, third-party claims that the Company’s products when used for their intended purpose(s) and under specific conditions infringe the intellectual property rights of a third party, or other specified claims made against the indemnified party.
It is not possible to determine the maximum potential amount of liability under these indemnification obligations due to the unique facts and circumstances that are likely to be involved in each particular claim and indemnification provision.
Historically, payments made by the Company under these obligations have not been material.
NOTE 17: Contingencies Hatamian Securities Litigation On January 15, 2014, a class action lawsuit captioned Hatamian v.  AMD, et al.
, C. A.
No.3:14-cv-00226 (the Hatamian Lawsuit) was filed against the Company in the United States District Court for the Northern District of California.
The complaint purports to assert claims against the Company and certain individual officers for alleged violations of Section 10(b) of the Securities Exchange Act of 1934, as amended (the Exchange Act), and Rule 10b-5 of the Exchange Act.
The plaintiffs seek to represent a proposed class of all persons who purchased or otherwise acquired our common stock during the period April 4, 2011 through October 18, 2012.
The complaint seeks damages allegedly caused by alleged materially misleading statements and/or material omissions by the Company and the individual officers regarding its 32nm technology and “Llano” product, which statements and omissions, the plaintiffs claim, allegedly operated to artificially inflate the price paid for the Company’s common stock during the period.
The complaint seeks unspecified compensatory damages, attorneys’ fees and costs.
On July 7, 2014, the Company filed a motion to dismiss plaintiffs’ claims.
On March 31, 2015, the Court denied the motion to dismiss.
On May 14, 2015, the Company filed its answer to plaintiffs’ corrected amended complaint.
On September 4, 2015, plaintiffs filed their motion for class certification, and on March 16, 2016, the Court granted plaintiffs’ motion.
A court-ordered mediation held in January 2016 did not result in a settlement of the lawsuit.
The discovery process was concluded.
The plaintiffs and defendants filed cross-motions for summary judgment, and briefing on those motions was completed in July 2017.
On October 9, 2017, the parties signed a definitive settlement agreement resolving this matter and submitted it to the Court for approval.
Under the terms of this agreement, the settlement will be
We believe that existing cash, cash equivalents and investments of approximately $5.0 billion, together with cash generated from operations and cash available through our credit agreement, will be sufficient to fund our operating activities, capital expenditures, stock repurchases and other obligations for the foreseeable future.
Commitments and Contingencies We have certain fixed contractual obligations and commitments that include future estimated payments.
Changes in our business needs, contractual cancellation provisions, fluctuating interest rates, and other factors may result in actual payments differing from the estimates.
We cannot provide certainty regarding the timing and amounts of these payments.
We have presented below a summary of the most significant assumptions used in our determination of amounts presented in the tables, in order to assist in the review of this information within the context of our consolidated financial position, results of operations, and cash flows.
The following table summarizes our fixed contractual obligations and commitments (in thousands):
## Table 2 ##
Operating lease amounts include minimum rental payments under our non-cancelable operating leases for office facilities, as well as limited computer and office equipment that we utilize under lease arrangements.
The amounts presented are consistent with contractual terms and are not expected to differ significantly, unless a substantial change in our headcount needs requires us to expand our occupied space or exit an office facility early.
Purchase obligation amounts include minimum purchase commitments for advertising, capital expenditures (computer equipment, software applications, engineering development services, construction contracts) and other goods and services that were entered into through our ordinary course of business.
For those contractual arrangements in which there are significant performance requirements, we have developed estimates to project expected payment obligations.
These estimates have been developed based upon historical trends, when available, and our anticipated future obligations.
Given the significance of such performance requirements within our advertising and other arrangements, actual payments could differ significantly from these estimates.
The table above does not include liabilities related to unrecognized tax benefits under FASB Interpretation No.48, “Accounting for Uncertainty in Income Taxes” (“FIN 48”).
As we are unable to reasonably predict the timing of settlement of such FIN 48 liabilities, the table does not include $494.3 million of such non-current liabilities recorded on our consolidated balance sheet as of December 31, 2007.
Off-Balance Sheet Arrangements As of December 31, 2007, we had no off-balance sheet arrangements that have, or are reasonably likely to have, a current or future material effect on our consolidated financial condition, results of operations, liquidity, capital expenditures or capital resources.
Customer funds held by PayPal as an agent or custodian on behalf of our customers are not reflected in our consolidated balance sheets.
These funds include funds on behalf of U. S.  customers that are deposited in bank accounts insured by the Federal Deposit Insurance Corporation and funds that U. S.  customers choose to invest in the PayPal Money Market Fund, which totaled approximately $1.8 billion and $1.5 billion as of December 31, 2007 and 2006, respectively.
The PayPal Money Market Fund is invested in a portfolio managed by Barclays Global Fund Advisors.
Given the 17% decline in net revenues and the 13% decrease in non-interest expense, there was a 52% decline in pre-tax earnings.
Overall PCG margins decreased from 9.6% to 5.5%.
As over half of the PCG revenues are recurring or asset based in nature, the decline in the equity markets (and therefore in the market values of client assets) had a significant impact on revenue.
Financial service fees were also lower as these include transaction fees on certain fee-based accounts.
Results of Operations – Capital Markets The following table presents consolidated financial information for our Capital Markets segment for the years indicated:
## Table 3 ##
Year ended September 30, 2010 Compared with the Year ended September 30, 2009 – Capital Markets Capital Markets pre-tax results increased $10.8 million, or 15%, with net revenues increasing $56.7 million, or 11%, as compared to the prior year.
We realized significant increases in underwriting fees of $52.1 million, or 100%, mergers and acquisition fees of $17 million, or 42%, and commissions from institutional equity sales of $24.3 million, or 12%.
These increases were offset by a decrease in fixed income sales commissions of $26.7 million, or 15%, and trading profits, which are primarily related to fixed income products and declined in comparison to the prior year by $9.8 million, or 24%.
Despite the unfavorable comparison, trading profits were historically strong, although slightly below the record level experienced in the prior year.
The number of lead and co-managed underwritings during the year were up 76% and 32%, respectively, as compared to the prior year, a time when underwritings were down dramatically due to the then-existing market conditions.
The dramatically improved equity market conditions in the current year versus the prior year were conducive to generating the increased equity market commissions, merger and acquisition fees and underwriting fees.
Our increased merger and acquisition activity arose primarily from engagements by companies in the Healthcare, Business Services and Energy sectors.
Non-interest expenses increased $44.9 million, or 10%, primarily resulting from compensation related costs.
The current year includes the addition of investment bankers added in the Lane Berry acquisition, which occurred in the third quarter of the prior year, and increased incentive compensation resulting from the increased profitability in our equity capital markets business.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td> 2009</td><td colspan="2"> 2010 - 2013</td><td colspan="2"> 2014 - 2018</td><td colspan="2"> Total</td></tr><tr><td>UE<sup>(a)</sup></td><td>$100</td><td>$525-</td><td>$655</td><td>$1,530-</td><td>$1,885</td><td>$2,155-</td><td>$2,640</td></tr><tr><td>Genco</td><td>230</td><td>875-</td><td>1,085</td><td>95-</td><td>125</td><td>1,200-</td><td>1,440</td></tr><tr><td>AERG</td><td>55</td><td>365-</td><td>455</td><td>60-</td><td>80</td><td>480-</td><td>590</td></tr><tr><td>EEI</td><td>15</td><td>120-</td><td>155</td><td>530-</td><td>660</td><td>665-</td><td>830</td></tr><tr><td>Ameren</td><td>$400</td><td>$1,885-</td><td>$2,350</td><td>$2,215-</td><td>$2,750</td><td>$4,500-</td><td>$5,500</td></tr></table>
<table><tr><td></td><td>December 30,2017</td><td>December 31,2016</td></tr><tr><td></td><td colspan="2">(In millions)</td></tr><tr><td>Beginning balance</td><td>$12</td><td>$15</td></tr><tr><td>New warranties issued during the period</td><td>25</td><td>21</td></tr><tr><td>Settlements during the period</td><td>-21</td><td>-19</td></tr><tr><td>Changes in liability for pre-existing warranties during the period, including expirations</td><td>-4</td><td>-5</td></tr><tr><td>Ending balance</td><td>$12</td><td>$12</td></tr></table>
<table><tr><td> Payments Due By Year Ending December 31,</td><td> Operating   Leases</td><td> Purchase   Obligations</td><td> Total</td></tr><tr><td>2008</td><td>$64,870</td><td>$372,157</td><td>$437,027</td></tr><tr><td>2009</td><td>59,221</td><td>105,099</td><td>164,320</td></tr><tr><td>2010</td><td>45,960</td><td>58,786</td><td>104,746</td></tr><tr><td>2011</td><td>32,342</td><td>45,019</td><td>77,361</td></tr><tr><td>2012</td><td>27,940</td><td>42,563</td><td>70,503</td></tr><tr><td>Thereafter</td><td>87,688</td><td>643</td><td>88,331</td></tr><tr><td></td><td>$318,021</td><td>$624,267</td><td>$942,288</td></tr></table>
<table><tr><td></td><td colspan="5">Year Ended September 30,</td></tr><tr><td></td><td>2010</td><td>% Change</td><td>2009</td><td>% Change</td><td>2008</td></tr><tr><td></td><td colspan="5">($ in 000's)</td></tr><tr><td>Revenues:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Institutional Sales Commissions:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Equity</td><td>$222,481</td><td>12%</td><td>$198,218</td><td>-14%</td><td>$229,405</td></tr><tr><td>Fixed Income</td><td>147,585</td><td>-15%</td><td>174,315</td><td>61%</td><td>108,385</td></tr><tr><td>Underwriting Fees</td><td>104,157</td><td>100%</td><td>52,015</td><td>-35%</td><td>80,400</td></tr><tr><td>Mergers & Acquisitions Fees</td><td>57,783</td><td>42%</td><td>40,607</td><td>6%</td><td>38,385</td></tr><tr><td>Private Placement Fees</td><td>1,914</td><td>87%</td><td>1,025</td><td>-60%</td><td>2,536</td></tr><tr><td>Trading Profits</td><td>31,654</td><td>-24%</td><td>41,407</td><td>NM</td><td>-3,503</td></tr><tr><td>Interest</td><td>18,191</td><td>34%</td><td>13,608</td><td>-59%</td><td>33,183</td></tr><tr><td>Other</td><td>8,184</td><td>-32%</td><td>12,059</td><td>-31%</td><td>17,367</td></tr><tr><td>Total Revenues</td><td>591,949</td><td>11%</td><td>533,254</td><td>5%</td><td>506,158</td></tr><tr><td>Interest Expense</td><td>12,814</td><td>19%</td><td>10,808</td><td>-68%</td><td>33,337</td></tr><tr><td>Net Revenues</td><td>579,135</td><td>11%</td><td>522,446</td><td>10%</td><td>472,821</td></tr><tr><td>Non-Interest Expenses:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Sales Commissions</td><td>128,432</td><td>-2%</td><td>130,463</td><td>17%</td><td>111,448</td></tr><tr><td>Admin & Incentive Compensation and Benefit Costs</td><td>262,791</td><td>19%</td><td>220,030</td><td>-3%</td><td>226,052</td></tr><tr><td>Communications and Information Processing</td><td>37,925</td><td>7%</td><td>35,350</td><td>-2%</td><td>35,981</td></tr><tr><td>Occupancy and Equipment</td><td>19,575</td><td>-</td><td>19,565</td><td>7%</td><td>18,271</td></tr><tr><td>Business Development</td><td>26,666</td><td>19%</td><td>22,500</td><td>-4%</td><td>23,511</td></tr><tr><td>Clearance and Other</td><td>36,382</td><td>-7%</td><td>39,013</td><td>42%</td><td>27,506</td></tr><tr><td>Total Non-Interest Expenses</td><td>511,771</td><td>10%</td><td>466,921</td><td>5%</td><td>442,769</td></tr><tr><td>Income Before Taxes and Including Noncontrolling Interests</td><td>67,364</td><td>21%</td><td>55,525</td><td>85%</td><td>30,052</td></tr><tr><td>Noncontrolling Interests</td><td>-16,872</td><td></td><td>-17,956</td><td></td><td>-13,575</td></tr><tr><td>Pre-tax Income Excluding Noncontrolling Interests</td><td>$84,236</td><td>15%</td><td>$73,481</td><td>68%</td><td>$43,627</td></tr></table>

Question: As As the chart 3 shows,which Year Ended September 30 is Total Revenues the lowest?
Answer: 2008