CITIZENS FINANCIAL GROUP, INC.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS 167 The Company has reviewed its securities portfolio for other-than-temporary impairments.
The following tables summarize those securities whose fair values are below carrying values, segregated by those that have been in a continuous unrealized loss position for less than twelve months and those that have been in a continuous unrealized loss position for twelve months or longer
## Table 0 ##
December 31, 2013
## Table 1 ##
For each debt security identified with an unrealized loss, the Company reviews the expected cash flows to determine if the impairment in value is temporary or other-than-temporary.
If the Company has determined that the present value of the debt security’s expected cash flows is less than its amortized cost basis, an other-than-temporary impairment is deemed to have occurred.
The amount of impairment loss that is recognized in current period earnings is dependent on the Company’s intent to sell (or not sell) the debt security.
If the Company intends to sell the impaired debt security, the impairment loss recognized in current period earnings equals the difference between the debt security’s fair value and its amortized cost.
If the Company does not intend to sell the impaired debt security, and it is not likely that the Company will be required to sell the impaired security, the credit-related impairment loss is recognized in current period earnings and equals the difference between the amortized cost of the debt security and the present value of the expected cash flows that have currently been projected.
In addition to these cash flow projections, several other characteristics of each debt security are reviewed when determining whether a credit loss exists and the period over which the debt security is expected to recover.
These characteristics include: (1) the type of investment, (2) various market factors affecting the fair value of the security (e. g. , interest rates, spread levels, liquidity in the sector, etc.
), (3) the length and severity of impairment, and (4) the public credit rating of the instrument.
The Company estimates the portion of loss attributable to credit using a cash flow model.
The inputs to this model include prepayment, default and loss severity assumptions that are based on industry research and observed data.
The loss projections generated by the model are reviewed on a quarterly basis by a cross-functional governance committee.
This governance committee determines whether security impairments are other-than-temporary based on this review
able to reasonably estimate the timing of future cash flows beyond 12 months due to uncertainties in the timing of tax audit outcomes.
The remaining amount of our unrecognized tax liability was classified in other liabilities.
We report accrued interest and penalties related to unrecognized tax benefit liabilities in income tax expense.
For fiscal 2017, we recognized a net benefit of $5.6 million of tax-related net interest and penalties, and had $23.1 million of accrued interest and penalties as of May 28, 2017.
For fiscal 2016, we recognized a net benefit of $2.7 million of tax-related net interest and penalties, and had $32.1 million of accrued interest and penalties as of May 29, 2016.
NOTE 15.
LEASES, OTHER COMMITMENTS, AND CONTINGENCIES The Company’s leases are generally for warehouse space and equipment.
Rent expense under all operating leases from continuing operations was $188.1 million in fiscal 2017, $189.1 million in fiscal 2016, and $193.5 million in fiscal 2015.
Some operating leases require payment of property taxes, insurance, and maintenance costs in addition to the rent payments.
Contingent and escalation rent in excess of minimum rent payments and sublease income netted in rent expense were insignificant.
Noncancelable future lease commitments are:
## Table 2 ##
Depreciation on capital leases is recorded as depreciation expense in our results of operations.
As of May 28, 2017, we have issued guarantees and comfort letters of $504.7 million for the debt and other obligations of consolidated subsidiaries, and guarantees and comfort letters of $165.3 million for the debt and other obligations of non-consolidated affiliates, mainly CPW.
In addition, off-balance sheet arrangements are generally limited to the future payments under non-cancelable operating leases, which totaled $500.7 million as of May 28, 2017.
NOTE 16.  BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION We operate in the consumer foods industry.
In the third quarter of fiscal 2017, we announced a new global organization structure to streamline our leadership, enhance global scale, and drive improved operational agility to maximize our growth capabilities.
As a result of this global reorganization, beginning in the third quarter of fiscal 2017, we reported results for our four operating segments as follows: North America Retail, 65.3 percent of our fiscal 2017 consolidated net sales; Convenience Stores & Foodservice, 12.0 percent of our fiscal 2017 consolidated net sales; Europe & Australia, 11.7 percent of our fiscal 2017 consolidated net sales; and Asia & Latin America, 11.0 percent of our fiscal 2017 consolidated net sales.
We have restated our net sales by segment and segment operating profit amounts to reflect our new operating segments.
These segment changes had no effect on previously reported consolidated net sales, operating profit, net earnings attributable to General Mills, or earnings per share.
Our North America Retail operating segment consists of our former U. S.  Retail operating units and our Canada region.
Within our North America Retail operating segment, our former U. S.  Meals operating unit and U. S.  Baking operating unit have been combined into one operating unit: U. S.  Meals & Baking.
Our Convenience Stores & Foodservice operating segment is unchanged.
Our Europe & Australia operating segment consists of our former Europe region.
Our Asia & Latin America operating segment consists of our former Asia/Pacific and Latin America regions.
Under our new organization structure, our chief operating decision maker assesses performance and makes decisions about resources to be allocated to our segments at the North America Retail, Convenience Stores & Foodservice, Europe & Australia, and Asia & Latin America operating segment level.
Our North America Retail operating segment reflects business with a wide variety of grocery stores, mass merchandisers, membership stores, natural food chains, drug, dollar and discount chains, and e-commerce grocery providers.
Our product categories in this business
Goodwill and Intangible Assets.
Goodwill and other intangibles had a carrying value of $10.1 million as of February 29, 2012 and February 28, 2011.
We review goodwill and intangible assets for impairment annually or when circumstances indicate the carrying amount may not be recoverable.
No impairment of goodwill or intangible assets resulted from our annual impairment tests in fiscal 2012, fiscal 2011 or fiscal 2010.
Restricted Cash on Deposit in Reserve Accounts.
The restricted cash on deposit in reserve accounts is for the benefit of the securitization investors.
In the event that the cash generated by the securitized receivables in a given period was insufficient to pay the interest, principal and other required payments, the balances on deposit in the reserve accounts would be used to pay those amounts.
These funds are restricted for the benefit of holders of nonrecourse notes payable and are not expected to be available to the company or its creditors.
Restricted cash on deposit in reserve accounts was $45.3 million as of February 29, 2012, and $45.0 million as of February 28, 2011.
See Note 5 for additional information on securitizations.
Restricted Investments.
Restricted investments includes money market securities primarily associated with certain insurance programs and mutual funds held in a rabbi trust established in May 2011 to fund informally our executive deferred compensation plan.
Due to the short-term nature and/or variable rates associated with these financial instruments, the carrying value approximates fair value.
Restricted investments totaled $31.4 million as of February 29, 2012, and $26.7 million as of February 28, 2011.
(K) Finance Lease Obligations We revised our consolidated financial statements for fiscal 2011 and 2010 to correct our accounting for saleleasebacks transactions.
The revisions resulted from the misapplication of the sale-leaseback provisions of FASB ASC Topic 840, Leases, related to transactions we entered into between fiscal 1995 and 2009.
We determined that our financial statements were not materially affected by the correction.
The related lease agreements give us the ability, by exercising renewal options, to extend the leases to cover substantially all of the lease assets’ useful lives at fixed payment terms.
This type of renewal is generally considered a form of “continuing involvement,” which should have precluded us from derecognizing certain of the related assets from our consolidated balance sheets.
To correct our accounting for these sale-leaseback transactions, we used the financing method where we recorded certain of the assets subject to the sale-leasebacks on our consolidated balance sheets in property, plant and equipment and the related sales proceeds as finance lease obligations.
Depreciation is being recognized on the assets.
Payments on the leases are now recognized as interest expense and a reduction of the obligations, rather than being recognized as rent expense.
The revisions resulted in a net increase in cash flows from operating activities with an equal net decrease in cash flows from financing activities.
The following tables summarize the impacts of the revisions on the major financial statement line items for the respective periods.
CONSOLIDATED STATEMENTS OF EARNINGS
## Table 3 ##
NOTE 8 PROPERTY, PLANT AND EQUIPMENT Following is a summary of property, plant and equipment:

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="9">December 31, 2014</td></tr><tr><td></td><td colspan="3">Less than 12 Months</td><td colspan="3">12 Months or Longer</td><td colspan="3">Total</td></tr><tr><td>(dollars in millions)</td><td>Number of Issues</td><td>Fair Value</td><td>Gross Unrealized Losses</td><td>Number of Issues</td><td>Fair Value</td><td>Gross Unrealized Losses</td><td>Number of Issues</td><td>Fair Value</td><td>Gross Unrealized Losses</td></tr><tr><td>State and political subdivisions</td><td>—</td><td>$—</td><td>$—</td><td>1</td><td>$10</td><td>$—</td><td>1</td><td>$10</td><td>$—</td></tr><tr><td>Mortgage-backed securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal agencies and U.S. government sponsored entities</td><td>75</td><td>3,282</td><td>-24</td><td>52</td><td>1,766</td><td>-57</td><td>127</td><td>5,048</td><td>-81</td></tr><tr><td>Other/non-agency</td><td>6</td><td>80</td><td>-2</td><td>17</td><td>397</td><td>-33</td><td>23</td><td>477</td><td>-35</td></tr><tr><td>Total mortgage-backed securities</td><td>81</td><td>3,362</td><td>-26</td><td>69</td><td>2,163</td><td>-90</td><td>150</td><td>5,525</td><td>-116</td></tr><tr><td>Total</td><td>81</td><td>$3,362</td><td>-$26</td><td>70</td><td>$2,173</td><td>-$90</td><td>151</td><td>$5,535</td><td>-$116</td></tr></table>
<table><tr><td></td><td colspan="9">December 31, 2013</td></tr><tr><td></td><td colspan="3">Less than 12 Months</td><td colspan="3">12 Months or Longer</td><td colspan="3">Total</td></tr><tr><td>(dollars in millions)</td><td>Number of Issues</td><td>Fair Value</td><td>Gross Unrealized Losses</td><td>Number of Issues</td><td>Fair Value</td><td>Gross Unrealized Losses</td><td>Number of Issues</td><td>Fair Value</td><td>Gross Unrealized Losses</td></tr><tr><td>State and political subdivisions</td><td>1</td><td>$10</td><td>-$1</td><td>—</td><td>$—</td><td>$—</td><td>1</td><td>$10</td><td>-$1</td></tr><tr><td>Mortgage-backed securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Federal agencies and U.S. government sponsored entities</td><td>263</td><td>12,067</td><td>-158</td><td>7</td><td>20</td><td>-2</td><td>270</td><td>12,087</td><td>-160</td></tr><tr><td>Other/non-agency</td><td>22</td><td>1,452</td><td>-34</td><td>19</td><td>490</td><td>-37</td><td>41</td><td>1,942</td><td>-71</td></tr><tr><td>Total mortgage-backed securities</td><td>285</td><td>13,519</td><td>-192</td><td>26</td><td>510</td><td>-39</td><td>311</td><td>14,029</td><td>-231</td></tr><tr><td>Total</td><td>286</td><td>$13,529</td><td>-$193</td><td>26</td><td>$510</td><td>-$39</td><td>312</td><td>$14,039</td><td>-$232</td></tr></table>
<table><tr><td>In Millions</td><td>Operating  Leases</td><td>Capital Leases</td></tr><tr><td>Fiscal 2018</td><td>$118.8</td><td>$0.4</td></tr><tr><td>Fiscal 2019</td><td>101.7</td><td>0.4</td></tr><tr><td>Fiscal 2020</td><td>80.7</td><td>0.2</td></tr><tr><td>Fiscal 2021</td><td>60.7</td><td>0.1</td></tr><tr><td>Fiscal 2022</td><td>49.7</td><td>—</td></tr><tr><td>After fiscal 2022</td><td>89.1</td><td>0.1</td></tr><tr><td>Total noncancelable future lease commitments</td><td>$500.7</td><td>$1.2</td></tr><tr><td>Less: interest</td><td></td><td>-0.1</td></tr><tr><td>Present value of obligations under capital leases</td><td></td><td>$1.1</td></tr></table>
<table><tr><td></td><td colspan="3"> Year Ended February 28, 2011</td></tr><tr><td> <i>(In thousands except per share data)</i> </td><td> Previously Reported</td><td>Adjustments</td><td> Revised</td></tr><tr><td>Selling, general and administrative expenses</td><td>$905,091</td><td>$-26,286</td><td>$878,805</td></tr><tr><td>Interest expense</td><td>$3,110</td><td>$31,570</td><td>$34,680</td></tr><tr><td>Earnings before income taxes</td><td>$613,490</td><td>$-5,284</td><td>$608,206</td></tr><tr><td>Income tax provision</td><td>$232,612</td><td>$-1,901</td><td>$230,711</td></tr><tr><td>Net earnings</td><td>$380,878</td><td>$-3,383</td><td>$377,495</td></tr><tr><td>Net Earnings Per Share:</td><td></td><td></td><td></td></tr><tr><td>Basic</td><td>$1.70</td><td>$-0.02</td><td>$1.68</td></tr><tr><td>Diluted</td><td>$1.67</td><td>$-0.02</td><td>$1.65</td></tr></table>

Question: what is the change in balance of accrued interest and penalties from 2016 to 2017?
Answer: -9
Reasoning program: subtract(23.1,32.1)