amounts.
Amounts are net of benefit payments recovered or expected to be recovered under reinsurance contracts.
Benefits under variable annuity guarantees include the changes in fair value of GMWB and GMAB embedded derivatives and the derivatives hedging these benefits, as well as the changes in fair value of derivatives hedging GMDB provisions.
Benefits, claims, losses and settlement expenses also include amortization of DSIC.
Amortization of DAC Direct sales commissions and other costs capitalized as DAC are amortized over time.
For annuity and UL contracts, DAC are amortized based on projections of estimated gross profits over amortization periods equal to the approximate life of the business.
For other insurance products, DAC are generally amortized as a percentage of premiums over amortization periods equal to the premium-paying period.
Interest and Debt Expense Interest and debt expense primarily includes interest on corporate debt and debt of CIEs, the impact of interest rate hedging activities and amortization of debt issuance costs.
General and Administrative Expense General and administrative expense includes compensation, share-based awards and other benefits for employees (other than employees directly related to distribution, including financial advisors), professional and consultant fees, information technology, facilities and equipment, advertising and promotion, legal and regulatory and corporate related expenses.
Assets Under Management and Administration Assets under management (‘‘AUM’’) include external client assets for which we provide investment management services, such as the assets of the Columbia Management funds and Threadneedle funds, assets of institutional clients and assets of clients in our advisor platform held in wrap accounts as well as assets managed by sub-advisers selected by us.
AUM also includes certain assets on our Consolidated Balance Sheets for which we provide investment management services and recognize management fees in our Asset Management segment, such as the assets of the general account and the variable product funds held in the separate accounts of our life insurance subsidiaries and CIEs.
These assets do not include assets under advisement, for which we provide model portfolios but do not have full discretionary investment authority.
Corporate & Other AUM primarily includes former bank assets that are managed within our Corporate & Other segment.
Assets under administration (‘‘AUA’’) include assets for which we provide administrative services such as client assets invested in other companies’ products that we offer outside of our wrap accounts.
These assets include those held in clients’ brokerage accounts.
We generally record revenues received from administered assets as distribution fees.
We do not exercise management discretion over these assets and do not earn a management fee.
These assets are not reported on our Consolidated Balance Sheets.
AUA also includes certain assets on our Consolidated Balance Sheets for which we do not provide investment management services and do not recognize management fees, such as investments in non-affiliated funds held in the separate accounts of our life insurance subsidiaries.
These assets do not include assets under advisement, for which we provide model portfolios but do not have full discretionary investment authority.
The following table presents detail regarding our AUM and AUA:
## Table 0 ##
Total AUM decreased $29.6 billion, or 4%, to $629.0 billion as of December 31, 2015 compared to $658.6 billion as of December 31, 2014 due to a $33.7 billion decrease in Asset Management AUM driven by net outflows, retail fund distributions and a negative impact of foreign currency translation and a $5.4 billion increase in Advice & Wealth Management AUM driven by wrap account net inflows, partially offset by market depreciation.
See our segment results of operations discussion below for additional information on changes in our AUM.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) The weighted average grant-date fair value of share awards granted in the years ended May 31, 2007 and 2006 was $45 and $36, respectively.
The total fair value of share awards vested during the years ended May 31, 2008, 2007 and 2006 was $4.1 million, $1.7 million and $1.4 million, respectively.
We recognized compensation expenses for restricted stock of $5.7 million, $2.7 million, and $1.6 million in the years ended May 31, 2008, 2007 and 2006.
As of May 31, 2008, there was $15.2 million of total unrecognized compensation cost related to unvested restricted stock awards that is expected to be recognized over a weighted average period of 2.9 years.
Employee Stock Purchase Plan We have an Employee Stock Purchase Plan under which the sale of 2.4 million shares of our common stock has been authorized.
Employees may designate up to the lesser of $25 thousand or 20% of their annual compensation for the purchase of stock.
For periods prior to October 1, 2006, the price for shares purchased under the plan was the lower of 85% of the market value on the first day or the last day of the quarterly purchase period.
With the quarterly purchase period beginning on October 1, 2006, the price for shares purchased under the plan is 85% of the market value on the last day of the quarterly purchase period (the “Purchase Date”).
At May 31, 2008, 0.7 million shares had been issued under this plan, with 1.7 million shares reserved for future issuance.
The weighted average grant-date fair value of each designated share purchased under this plan was $6, $8 and $8 in the years ended May 31, 2008, 2007 and 2006, respectively.
For the quarterly purchases after October 1, 2006, the fair value of each designated share purchased under the Employee Stock Purchase Plan is based on the 15% discount on the Purchase Date.
For purchases prior to October 1, 2006, the fair value of each designated share purchased under the Employee Stock Purchase Plan was estimated on the date of grant using the Black-Scholes valuation model using the following weighted average assumptions:
## Table 1 ##
The risk-free interest rate is based on the yield of a zero coupon United States Treasury security with a maturity equal to the expected life of the option from the date of the grant.
Our assumption on expected volatility is based on our historical volatility.
The dividend yield assumption is calculated using our average stock price over the preceding year and the annualized amount of our current quarterly dividend.
Since the purchase price for shares under the plan is based on the market value on the first day or last day of the quarterly purchase period, we use an expected life of three months to determine the fair value of each designated share.
to acquire land to which we could not otherwise obtain access, or could not obtain access on as favorable terms, without the participation of a strategic partner.
Our partners generally are unrelated homebuilders, land sellers or other real estate professionals.
While we view the use of unconsolidated partnerships as beneficial to our homebuilding activities, we do not view them as essential to those activities.
Most of the partnerships in which we invest are accounted for by the equity method of accounting.
At November 30, 2002, we had ownership interests of between 10% to 50% in these unconsolidated partnerships.
In many instances, we are appointed as the day-to-day manager of the partnerships and receive fees for performing this function.
During 2002, 2001 and 2000, we received management fees and reimbursement of expenses totaling $29.2 million, $26.1 million and $9.7 million, respectively, from unconsolidated partnerships in which we had interests.
We and/or our partners sometimes obtain options or enter into other arrangements under which we can purchase portions of the land held by the unconsolidated partnerships.
Option prices are generally negotiated prices that approximate fair value when we receive the options.
During 2002, 2001 and 2000, $419.3 million, $232.6 million and $134.6 million, respectively, of the unconsolidated partnerships’ revenues were from land sales to our homebuilding divisions.
At November 30, 2002, the unconsolidated partnerships in which we had interests had total assets of $1.4 billion and total liabilities of $741.2 million, which included $563.6 million of notes and mortgages payable.
In some instances, we and/or our partners have provided varying levels of guarantees on certain partnership debt.
At November 30, 2002, we had recourse guarantees of $50.3 million and limited maintenance guarantees of $162.2 million of the partnerships’ debts.
When we provide guarantees, the partnership generally receives more favorable terms from its lenders.
The limited maintenance guarantees only apply if a partnership defaults on its loan arrangements and the carrying value of the collateral (generally land and improvements) is less than a specified percentage of the loan balance.
If we are required to make a payment under a limited maintenance guarantee to bring the carrying value of the collateral above the specified percentage of the loan balance, the payment would constitute a capital contribution or loan to the unconsolidated partnership and increase our share of any funds it distributes.
During 2002, the unconsolidated partnerships in which we were a partner generated $939.8 million of revenues and incurred $780.1 million of expenses, resulting in net earnings of $159.8 million.
Our share of those net earnings was $42.7 million.
We do not include in our income our pro rata share of partnership earnings resulting from land sales to our homebuilding divisions.
Instead, we account for those earnings as a reduction of our cost of purchasing the land from the partnerships.
This in effect defers recognition of our share of the partnership earnings until a home is delivered and title passes to a homebuyer.
At the time of the 1997 transfer of our commercial real estate investment business to LNR Property Corporation (“LNR”), and the spin-off of LNR to our stockholders, we formed Lennar Land Partners, a 50%- 50% owned unconsolidated partnership with LNR, which is included in the unconsolidated partnerships discussed above.
We also have several other unconsolidated partnerships with LNR.
In these partnerships, we provide the residential development experience and LNR contributes the commercial property expertise.
In 2002, 2001 and 2000, we purchased land from Lennar Land Partners for a total of $83.0 million, $104.2 million and $112.3 million, respectively, which approximated fair value.
Contractual Obligations and Commercial Commitments The following summarizes our contractual obligations at November 30, 2002:
## Table 2 ##

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="2">December 31,</td><td colspan="2"></td></tr><tr><td></td><td>2015</td><td>2014</td><td colspan="2">Change</td></tr><tr><td></td><td colspan="3">(in billions)</td><td></td></tr><tr><td colspan="5">Assets Under Management and Administration</td></tr><tr><td>Advice & Wealth Management AUM</td><td>$179.5</td><td>$174.1</td><td>$5.4</td><td>3%</td></tr><tr><td>Asset Management AUM</td><td>471.9</td><td>505.6</td><td>-33.7</td><td>-7</td></tr><tr><td>Corporate & Other AUM</td><td>0.7</td><td>0.8</td><td>-0.1</td><td>-13</td></tr><tr><td>Eliminations</td><td>-23.1</td><td>-21.9</td><td>-1.2</td><td>-5</td></tr><tr><td>Total Assets Under Management</td><td>629.0</td><td>658.6</td><td>-29.6</td><td>-4</td></tr><tr><td>Total Assets Under Administration</td><td>147.7</td><td>147.6</td><td>0.1</td><td>—</td></tr><tr><td>Total AUM and AUA</td><td>$776.7</td><td>$806.2</td><td>$-29.5</td><td>-4%</td></tr></table>
<table><tr><td></td><td>2007</td><td>2006</td></tr><tr><td>Risk-free interest rates</td><td>4.93%</td><td>3.72%</td></tr><tr><td>Expected volatility</td><td>37.02%</td><td>26.06%</td></tr><tr><td>Dividend yields</td><td>0.19%</td><td>0.34%</td></tr><tr><td>Expected lives</td><td>3 months</td><td>3 months</td></tr></table>
<table><tr><td></td><td></td><td colspan="4"> Payments Due by Period</td></tr><tr><td> Contractual Obligations</td><td> Total</td><td> Less than 1 year</td><td> 1 to 3 years</td><td> 4 to 5 years</td><td> Over 5 years</td></tr><tr><td></td><td colspan="5"> (Dollars in thousands)</td></tr><tr><td>Homebuilding—Senior notes and other debts payable</td><td>$1,585,309</td><td>64,054</td><td>34,374</td><td>397,351</td><td>1,089,530</td></tr><tr><td>Financial Services—Notes and other debts payable (including limited-purpose financesubsidiaries)</td><td>862,618</td><td>688,382</td><td>165,034</td><td>—</td><td>9,202</td></tr><tr><td>Operating leases</td><td>149,686</td><td>41,918</td><td>56,315</td><td>34,110</td><td>17,343</td></tr><tr><td>Total contractual cash obligations</td><td>$2,597,613</td><td>794,354</td><td>255,723</td><td>431,461</td><td>1,116,075</td></tr></table>

Question: What's the growth rate of Asset Management AUM in 2015?
Answer: -0.06665
Reasoning program: subtract(471.9,505.6), divide(#0,505.6)