ing period in 2004, was primarily the result of a decrease in bor rowings of long-term debt and proceeds from issuance of debt offset by a decrease in repayments of long-term debt Capital Expenditures We have significant ongoing capital expenditure requirements.
Capital expenditures were S1.1 bllion, S1.1 bllion, and S924 million for the years ended December 31, 2006, 2005, and 2004, respectively.
The majority of the capital expenditures in 2006, 2005, and 2004 related to our scalable infrastructure and customer premise equipment.
See the table below for more details.
Our apital expenditures are funded primarily from cash flows from operating activities, the issuance of debt and borrowings under credit facilities.
In addition, during the years ended December 31, 2006, 2005, and 2004, our liabiltes related to capital expenditures increased by S24 million, and S8 million, and decreased S43 million, respectively.
During 2007, we expect capital expenditures to be approxi- mately $1.2 bllion.
We expect that the nature of these expenditures will continue to be composed primarily of purchases of customer premise equipment related to telephone and other advanced services, support capital, and scalable infrastructure.
We expect to fund apital expenditures for 2007 primarily fom cash flows from operating activites and bortow- ings under our credit facilities.
We have adopted capital expenditure disdosure guidance, which was developed by eleven then publicly traded cable system operators, including Charter, with the support of the National Cable & Telecommunications Association (NCTA").
The disclosure is intended to provide more consistency in reporting capital expenditures and customers among peer companies in the cable industry.
These disclosures are not required disclosures under GAAP, nor do they impact our accounting for capital expenditures under GAAP.
The ollowing table presents our major capital expenditures categories in acordance with NCTA disclosure guidelines for the years ended December 31, 2006, 2005, and 2004 (dollars in millions):
## Table 0 ##
Customer premise equipment indudes costs for set-top boxes and calble moxdems, etc.
used at the customer residence to secure new customers, revemne gnerning units, and ad ditiomal bandwidth It ako indudes customer installation costs in aocondance with SFAS 51 lSalable infnstructure indudes costs not related to cutomer premise equipment or our network如secure geowth of new customers, revene generating units, and aditiomal bandwidth revenues, or如provide service enhancements (eg- headend equipmen).
Line exten sions indlude network costs (eg- fber/coaxial calble, ampliexs, eletromie equipment, mke-ready and design engineering) socinted with entering new service areas.
)Upenade/rebuld includes costs to modifly or repbace exising fber/coaxial calble networks, incuding bettemments Support apital indudes costs ssociated with the replacement or enhancement of non-network asets (non-network equipment, hndL buildings and vehidea) due to technologeal and physical obsolescence DESCRIPTION OF OUR OUTSTANDING DEBT Overview As of December 31, 2006 and 2005, our long-tem debt totaled approximately $19.1 bllion and $19.4 bllion, respectively.
This debt was comprised of approximately S5.4 bllion and S5.7 bil- lion of credit facility debt, S13.3 bllion and S12.8 bllion accreted amount of high-yield notes and S408 million and $863 million accreted amount of convertible senior notes at December 31, 2006 and 2005, respectively.
See the organiza- tional chart on page 4 and the first table under“- Liquidity and Capital Resources - Overview of Our Debt and Liquidity" for debt outstanding by issuer.
As of December 31, 2006 and 2005, the blended weighted average interest rate on our debt was 9.5% and 9.3%, respec- tively.
The interest rate on approximately 78%6 and 77% of the total principal amount of our debt was efectively fixed, including the effects of our interest rate hedge agreements, as of December 31, 2006 and 2005, respectively.
The fair value of our high-yield notes was S13.3 bllin and S10.4 billion at Decem- ber 31, 2006 and 2005, respectively.
The fair value of our convertible senior notes was S576 million and S647 million at December 31, 2006 and 2005, respectively.
The fair value of our credit facilities was S5.4 bllion and S5.7 bllin at December 31, 2006 and 2005, respectively.
The fair value of high-yield and convertible notes was based on quoted market prices, and the fair value of the credit facilities was based on dealer quotations.
The following description is a summary of certain provi- sions of our credit facilities and our notes (the“Debt Agree- ments").
The summary does not restate the terms of the Debt Agreements in their entirety, nor does it describe all terms of the Debt Agreements.
The agreements and instruments gov- erning each of the Debt Agreements are complicated and you should consult such agreements and instruments for more detailed information regarding the Debt Agreements.
Charter Operating Credit Facilites General The Charter Operating credit facilities were amended and restated in April 2006, among other things, to defer maturities and to increase availabilty under these facilities.
The Charter Operating credit facilities provide borrowing availability of up to S6.85 bllin as follows: ●a term facility with a total principal amount of S5.0 billion, repayable in 23 equal quarterly installments, commencing September 30, 2007 and aggregating in each loan year to 1% of the original amount of the termn facility, with the remaining balance due at final maturity in 2013; ●a revolving credit facility of S1.5 bllion, with a maturity date in 2010; and
Net revenues, which include excise taxes billed to customers, increased $59 million (0.3%), due primarily to higher pricing, which includes higher promotional investments, partially offset by lower shipment volume ($577 million).
Operating companies income increased $199 million (2.6%), due primarily to higher pricing, which includes higher promotional investments, lower costs (due primarily to lower pension and benefit costs) and lower tobacco and health litigation items ($39 million).
These factors were partially offset by lower shipment volume ($298 million), higher per unit settlement charges, costs in connection with the productivity initiative and facilities consolidation ($134 million) and NPM Adjustment Items in 2015 ($97 million).
Total smokeable products segment’s reported shipment volume decreased 2.4%.
The smokeable products segment’s reported and adjusted domestic cigarettes shipment volume decreased approximately 2.5% driven primarily by the industry’s rate of decline.
Total cigarette industry volumes declined by an estimated 2.5%.
Shipments of premium cigarettes accounted for 90.8% of smokeable products’ reported domestic cigarettes shipment volume for 2016, versus 91.2% for 2015.
Middleton’s reported cigars shipment volume increased 5.9%, driven primarily by Black & Mild in the tipped cigars segment.
Marlboro’s retail share declined 0.1 share point in 2016.
PM USA’s total retail share was unchanged in 2016.
Smokeless Products Segment During 2017, the smokeless products segment grew net revenues and operating companies income, primarily through higher pricing, partially offset by unfavorable mix and lower shipment volume.
During 2017, USSTC voluntarily recalled certain smokeless tobacco products manufactured at its Franklin Park, Illinois facility due to a product tampering incident (the “Recall”).
USSTC has concluded the Recall and trade inventories have been replenished.
USSTC estimates that the Recall reduced smokeless products segment operating companies income by approximately $60 million in 2017.
The following table summarizes smokeless products segment shipment volume performance:
## Table 1 ##
Smokeless products shipment volume includes cans and packs sold, as well as promotional units, but excludes international volume, which is not material to the smokeless products segment.
New types of smokeless products, as well as new packaging configurations of existing smokeless products, may or may not be equivalent to existing MST products on a can-for-can basis.
To calculate volumes of cans and packs shipped, one pack of snus, irrespective of the number of pouches in the pack, is assumed to be equivalent to one can of MST.
The following table summarizes smokeless products segment retail share performance (excluding international volume):
## Table 2 ##
Retail share results for smokeless products are based on data from IRI InfoScan, a tracking service that uses a sample of stores to project market share and depict share trends.
This service tracks sales in the food, drug, mass merchandisers, convenience, military, dollar store and club trade classes on the number of cans and packs sold.
Smokeless products is defined by IRI as moist smokeless and spit-free tobacco products.
New types of smokeless products, as well as new packaging configurations of existing smokeless products, may or may not be equivalent to existing MST products on a can-for-can basis.
For example, one pack of snus, irrespective of the number of pouches in the pack, is assumed to be equivalent to one can of MST.
Because this service represents retail share performance only in key trade channels, it should not be considered a precise measurement of actual retail share.
It is IRI’s standard practice to periodically refresh its InfoScan services, which could restate retail share results that were previously released in this service.
USSTC executed the following pricing actions during 2017, 2016 and 2015: Effective September 26, 2017, USSTC increased the list price on Copenhagen and Skoal popular price products by $0.12 per can.
In addition, USSTC increased the list price on all its brands, except for Copenhagen and Skoal popular price products, by $0.07 per can.
Effective April 25, 2017, USSTC increased the list price on all its brands by $0.07 per can.
Effective December 6, 2016, USSTC increased the list price on Copenhagen and Skoal popular price products by $0.12 per can.
In addition, USSTC increased the list price on all its brands, except for Copenhagen and Skoal popular price products, by $0.07 per can.
Effective May 10, 2016, USSTC increased the list price on all its brands by $0.07 per can.
Effective December 8, 2015, USSTC increased the list price on Copenhagen and Skoal popular price products by $0.12 per can.
In addition, USSTC increased the list price
Table 2—GAAP to Non-GAAP Reconciliation
## Table 3 ##

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="3">For the years ended December 31,</td></tr><tr><td></td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td>Customer premise equipment (a)</td><td>$507</td><td>$434</td><td>$451</td></tr><tr><td>Scalable infrastructure (b)</td><td>214</td><td>174</td><td>108</td></tr><tr><td>Line extensions (c)</td><td>107</td><td>134</td><td>131</td></tr><tr><td>Upgrade/Rebuild (d)</td><td>45</td><td>49</td><td>49</td></tr><tr><td>Support capital (e)</td><td>230</td><td>297</td><td>185</td></tr><tr><td>Total capital expenditures</td><td>$1,103</td><td>$1,088</td><td>$924</td></tr></table>
<table><tr><td></td><td colspan="3">Shipment VolumeFor the Years Ended December 31,</td></tr><tr><td>(cans and packs in millions)</td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>Copenhagen</td><td>531.6</td><td>525.1</td><td>474.7</td></tr><tr><td>Skoal</td><td>241.9</td><td>260.9</td><td>267.9</td></tr><tr><td>CopenhagenandSkoal</td><td>773.5</td><td>786.0</td><td>742.6</td></tr><tr><td>Other</td><td>67.8</td><td>67.5</td><td>70.9</td></tr><tr><td>Total smokeless products</td><td>841.3</td><td>853.5</td><td>813.5</td></tr></table>
<table><tr><td></td><td colspan="3">Retail ShareFor the Years Ended December 31,</td></tr><tr><td></td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>Copenhagen</td><td>33.7%</td><td>33.2%</td><td>31.0%</td></tr><tr><td>Skoal</td><td>16.7</td><td>18.1</td><td>19.4</td></tr><tr><td>CopenhagenandSkoal</td><td>50.4</td><td>51.3</td><td>50.4</td></tr><tr><td>Other</td><td>3.3</td><td>3.4</td><td>3.7</td></tr><tr><td>Total smokeless products</td><td>53.7%</td><td>54.7%</td><td>54.1%</td></tr></table>
<table><tr><td></td><td></td><td colspan="5">For Years Ended December 31</td></tr><tr><td colspan="2"></td><td>2011</td><td>2010</td><td>2009</td><td>2008</td><td>2007</td></tr><tr><td></td><td></td><td></td><td colspan="4">(In millions, except per share data)</td></tr><tr><td> INCOME (LOSS)</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net income (loss) (GAAP)</td><td></td><td>$-215</td><td>$-539</td><td>$-1,031</td><td>$-5,596</td><td>$1,251</td></tr><tr><td>Preferred dividends and accretion (GAAP)</td><td></td><td>-214</td><td>-224</td><td>-230</td><td>-26</td><td>—</td></tr><tr><td>Net income (loss) available to common shareholders (GAAP)</td><td>A</td><td>-429</td><td>-763</td><td>-1,261</td><td>-5,622</td><td>1,251</td></tr><tr><td>Income (loss) from discontinued operations, net of tax (GAAP)</td><td></td><td>-404</td><td>-71</td><td>43</td><td>53</td><td>-34</td></tr><tr><td>Income (loss) from continuing operations available to common shareholders (GAAP)</td><td>B</td><td>$-25</td><td>$-692</td><td>$-1,304</td><td>$-5,675</td><td>$1,285</td></tr><tr><td>Income (loss) from continuing operations available to common shareholders (GAAP)</td><td></td><td>$-25</td><td>$-692</td><td>$-1,304</td><td>$-5,675</td><td>$1,285</td></tr><tr><td>Merger-related charges, pre-tax:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Salaries and employee benefits</td><td></td><td>—</td><td>—</td><td>—</td><td>134</td><td>159</td></tr><tr><td>Net occupancy expense</td><td></td><td>—</td><td>—</td><td>—</td><td>4</td><td>34</td></tr><tr><td>Furniture and equipment expense</td><td></td><td>—</td><td>—</td><td>—</td><td>5</td><td>5</td></tr><tr><td>Other</td><td></td><td>—</td><td>—</td><td>—</td><td>58</td><td>153</td></tr><tr><td>Total merger-related charges, pre-tax</td><td></td><td>—</td><td>—</td><td>—</td><td>201</td><td>351</td></tr><tr><td>Merger-related charges, net of tax</td><td></td><td>—</td><td>—</td><td>—</td><td>125</td><td>219</td></tr><tr><td>Goodwill impairment</td><td></td><td>253</td><td>—</td><td>—</td><td>6,000</td><td>—</td></tr><tr><td>Regulatory charge and related income tax benefit<sup>-1</sup></td><td></td><td>-17</td><td>75</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Income (loss) from continuing operations available to common shareholders, excluding merger, goodwill impairment and regulatorycharge and related income tax benefit (non-GAAP)</td><td>C</td><td>$211</td><td>$-617</td><td>$-1,304</td><td>$450</td><td>$1,504</td></tr><tr><td>Weighted-average diluted shares</td><td>D</td><td>1,258</td><td>1,227</td><td>989</td><td>695</td><td>713</td></tr><tr><td>Earnings (loss) per common share – diluted (GAAP)</td><td>A/D</td><td>$-0.34</td><td>$-0.62</td><td>$-1.27</td><td>$-8.09</td><td>$1.75</td></tr><tr><td>Earnings (loss) per common share from continuing operations – diluted (GAAP)</td><td>B/D</td><td>$-0.02</td><td>$-0.56</td><td>$-1.32</td><td>$-8.16</td><td>$1.80</td></tr><tr><td>Earnings (loss) per common share from continuing operations, excluding merger, goodwill impairment and regulatory charge andrelated income tax benefit—diluted (non-GAAP)</td><td>C/D</td><td>$0.17</td><td>$-0.50</td><td>$-1.32</td><td>$0.65</td><td>$2.11</td></tr><tr><td> EFFICIENCY AND FEE INCOME RATIOS</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Non-interest expense from continuing operations (GAAP)</td><td></td><td>$3,862</td><td>$3,859</td><td>$3,785</td><td>$9,895</td><td>$3,821</td></tr><tr><td>Adjustments:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Merger-related charges</td><td></td><td>—</td><td>—</td><td>—</td><td>-201</td><td>-351</td></tr><tr><td>Goodwill impairment</td><td></td><td>-253</td><td>—</td><td>—</td><td>-6,000</td><td>—</td></tr><tr><td>Regulatory charge</td><td></td><td>—</td><td>-75</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Mortgage servicing rights impairment</td><td></td><td>—</td><td>—</td><td>—</td><td>-85</td><td>-6</td></tr><tr><td>Loss on extinguishment of debt</td><td></td><td>—</td><td>-108</td><td>—</td><td>-66</td><td>—</td></tr><tr><td>FDIC special assessment</td><td></td><td>—</td><td>—</td><td>-64</td><td>—</td><td>—</td></tr><tr><td>Securities impairment, net</td><td></td><td>-2</td><td>-2</td><td>-75</td><td>-23</td><td>-7</td></tr><tr><td>Branch consolidation and property and equipment charges</td><td></td><td>-75</td><td>-8</td><td>-53</td><td>—</td><td>—</td></tr><tr><td>Adjusted non-interest expense (non-GAAP)</td><td>E</td><td>$3,532</td><td>$3,666</td><td>$3,593</td><td>$3,520</td><td>$3,457</td></tr><tr><td>Net interest income from continuing operations, fully- taxable equivalent basis (GAAP)</td><td></td><td>$3,445</td><td>$3,421</td><td>$3,325</td><td>$3,825</td><td>$4,364</td></tr><tr><td>Non-interest income from continuing operations (GAAP)</td><td></td><td>2,143</td><td>2,489</td><td>2,765</td><td>2,132</td><td>1,918</td></tr><tr><td>Adjustments:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Securities (gains) losses, net</td><td></td><td>-112</td><td>-394</td><td>-69</td><td>-92</td><td>9</td></tr><tr><td>Leveraged lease termination gains</td><td></td><td>-8</td><td>-78</td><td>-587</td><td>—</td><td>—</td></tr><tr><td>Visa-related gains</td><td></td><td>—</td><td>—</td><td>-80</td><td>-63</td><td>—</td></tr><tr><td>Gain on early extinguishment of debt</td><td></td><td>—</td><td>—</td><td>-61</td><td>—</td><td>—</td></tr><tr><td>Gain on sale of mortgage loans</td><td></td><td>3</td><td>-26</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Adjusted non-interest income (non-GAAP)</td><td>F</td><td>2,026</td><td>1,991</td><td>1,968</td><td>1,977</td><td>1,927</td></tr><tr><td>Adjusted total revenue (non-GAAP)</td><td>G</td><td>$5,471</td><td>$5,412</td><td>$5,293</td><td>$5,802</td><td>$6,291</td></tr><tr><td>Fee income ratio (non-GAAP)</td><td>F/G</td><td>37.03%</td><td>36.79%</td><td>37.18%</td><td>34.07%</td><td>30.63%</td></tr><tr><td>Efficiency ratio (non-GAAP)</td><td>E/G</td><td>64.56%</td><td>67.74%</td><td>67.88%</td><td>60.67%</td><td>54.95%</td></tr></table>

Question: Which year is Income (loss) from discontinued operations, net of tax (GAAP) the most?
Answer: 2008