The following table presents net revenues by geographic region for the Company’s International segment for 2013, 2012 and 2011.
## Table 0 ##
In 2013, a positive impact from currency translation of approximately $27,400 for Europe was partially offset by a negative impact from currency translation of approximately $14,400 and $6,000 for the Latin America and Asia Pacific regions, respectively.
Absent the impact of foreign exchange, 2013 net revenues grew 1%, 16% and 6% for Europe, Latin America and Asia Pacific, respectively, compared to 2012.
Growth in International segment net revenues in 2013 was primarily driven by growth in emerging markets, including Russia, Brazil and China.
Net revenues in emerging markets increased 25% in 2013 compared to 2012, and were partially offset by lower net revenues in certain developed markets including Australia, France and the United Kingdom.
In 2012, a negative impact from currency translation of $79,100 and $20,000 for Europe and Latin America, respectively, in addition to challenging economic environments in certain developed economies contributed to the overall decline in net revenues for the segment.
Currency translation did not have a material impact on net revenues for the Asia Pacific region in 2012.
In 2012, net revenues in Latin America increased 14% and net revenues in Europe decreased 2% compared to 2011, absent the impact of foreign exchange.
Net revenues in emerging international markets, including Brazil, Russia and Colombia, increased 16% in 2012 compared to 2011.
By product category, growth in the games, girls’ and preschool categories in 2013 was partially offset by lower net revenues in the boys’ category.
In 2012, the decrease in net revenues was predominantly the result of lower net revenues from boys’ products and marginally lower net revenues from games and girls products while net revenues from preschool products were flat for the year.
In the boys’ category, lower sales of BEYBLADE, MARVEL, STAR WARS and KRE-O products in 2013 were partially offset by higher net revenues from TRANSFROMERS and NERF products.
In 2012, higher net revenues from MARVEL, particularly entertainment-based products related to THE AVENGERS and SPIDERMAN, and STAR WARS products in 2012 compared to 2011 were more than offset by lower net revenues from BEYBLADE and TRANSFORMERS products.
In the games category, higher net revenues from MAGIC: THE GATHERING, JENGA, TWISTER, ELEFUN & FRIENDS and action battling gaming products in 2013 compared to 2012 were partially offset by lower net revenues from other game brands.
In 2012, higher net revenues from boys’ action gaming products, primarily related to STAR WARS and TRANSFORMERS brands, MAGIC: THE GATHERING, TWISTER and BATTLESHIP products in 2012 compared to 2011 were more than offset by decreased net revenues from other game brands.
The girls’ category grew approximately 47% in 2013 compared to 2012 attributable to higher net revenues from MY LITTLE PONY products as well as the introduction of FURBY products in non-English speaking markets and NERF REBELLE products.
This growth was partially offset by lower net revenues from LITTLEST PET SHOP and FURREAL FRIENDS products.
In 2012, higher net revenues from MY LITTLE PONY compared to 2011 as well as the introduction of FURBY products were more than offset by lower net revenues from LITTLEST PET SHOP and FURREAL FRIENDS products.
FURBY products were introduced in Englishspeaking markets in 2012 and globally in 2013.
In the preschool category, higher net revenues from PLAY-DOH and TRANSFORMERS products in 2013 were partially offset by lower net revenues from TONKA and SESAME STREET products.
In 2012, net revenues in the preschool category were flat compared to 2011.
Increased net revenues from PLAYSKOOL
Year Ended December 31
## Table 1 ##
RESULTS OF OPERATIONS Operating Revenues
## Table 2 ##
We generate freight revenues by transporting freight or other materials from our six commodity groups.
Freight revenues vary with volume (carloads) and average revenue per car (ARC).
Changes in price, traffic mix and fuel surcharges drive ARC.
We provide some of our customers with contractual incentives for meeting or exceeding specified cumulative volumes or shipping to and from specific locations, which we record as reductions to freight revenues based on the actual or projected future shipments.
We recognize freight revenues as shipments move from origin to destination.
We allocate freight revenues between reporting periods based on the relative transit time in each reporting period and recognize expenses as we incur them.
Other revenues include revenues earned by our subsidiaries, revenues from our commuter rail operations, and accessorial revenues, which we earn when customers retain equipment owned or controlled by us or when we perform additional services such as switching or storage.
We recognize other revenues as we perform services or meet contractual obligations.
Freight revenues from all six commodity groups increased during 2014 compared to 2013 driven by 7% volume growth and core pricing gains of 2.5%.
Volume growth from grain, frac sand, rock, and intermodal (domestic and international) shipments offset declines in crude oil.
Freight revenues from five of our six commodity groups increased during 2013 compared to 2012.
Revenue from Agricultural Products was down slightly compared to 2012.
ARC increased 5%, driven by core pricing gains, shifts in business mix and an automotive logistics management arrangement.
Volume essentially was flat year over year as growth in automotive, frac sand, crude oil and domestic intermodal offset declines in coal, international intermodal and grain shipments.
Our fuel surcharge programs generated freight revenues of $2.8 billion, $2.6 billion, and $2.6 billion in 2014, 2013, and 2012, respectively.
Fuel surcharge in 2014 increased 6% driven by our 7% carloadings increase.
Fuel surcharge in 2013 essentially was flat versus 2012 as lower fuel price offset improved fuel recovery provisions and the lag effect of our programs (surcharges trail fluctuations in fuel price by approximately two months).
In 2014, other revenue increased from 2013 due to higher revenues at our subsidiaries, primarily those that broker intermodal and automotive services, accessorial revenue driven by increased volume and per diem revenue for container usage (previously included in automotive freight revenue).
In 2013, other revenue increased from 2012 due primarily to miscellaneous contract revenue and higher revenues at our subsidiaries that broker intermodal and automotive services.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td> 2013</td><td>% Change</td><td> 2012</td><td>% Change</td><td> 2011</td></tr><tr><td>Europe</td><td>$1,190,350</td><td>3%</td><td>1,154,310</td><td>-8%</td><td>1,254,427</td></tr><tr><td>Latin America</td><td>407,710</td><td>12%</td><td>362,689</td><td>8%</td><td>334,887</td></tr><tr><td>Asia Pacific</td><td>274,920</td><td>4%</td><td>265,120</td><td>-3%</td><td>272,587</td></tr><tr><td>Net revenues</td><td>$1,872,980</td><td></td><td>1,782,119</td><td></td><td>1,861,901</td></tr></table>
<table><tr><td></td><td></td><td colspan="5">Year Ended December 31</td></tr><tr><td></td><td></td><td>2018</td><td>2017</td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td></td><td></td><td colspan="5">(Dollars in millions, except per share data)</td></tr><tr><td>INCOME—CONSOLIDATED</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net income (GAAP)</td><td></td><td>$1,759</td><td>$1,263</td><td>$1,163</td><td>$1,062</td><td>$1,147</td></tr><tr><td>Preferred dividends (GAAP)</td><td></td><td>-64</td><td>-64</td><td>-64</td><td>-64</td><td>-52</td></tr><tr><td>Net income available to common shareholders (GAAP)</td><td>A</td><td>$1,695</td><td>$1,199</td><td>$1,099</td><td>$998</td><td>$1,095</td></tr><tr><td>Income (loss) from discontinued operations, net of tax</td><td></td><td>191</td><td>22</td><td>9</td><td>-9</td><td>16</td></tr><tr><td>Net income from continuing operations available to common shareholders (GAAP)</td><td>B</td><td>$1,504</td><td>$1,177</td><td>$1,090</td><td>$1,007</td><td>$1,079</td></tr><tr><td>ADJUSTED EFFICIENCY AND FEE INCOME RATIOS—CONTINUING OPERATIONS</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Non-interest expense (GAAP)</td><td>C</td><td>$3,570</td><td>$3,491</td><td>$3,483</td><td>$3,478</td><td>$3,318</td></tr><tr><td>Adjustments:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Contribution to Regions Financial Corporation foundation</td><td></td><td>-60</td><td>-40</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Professional, legal and regulatory expenses<sup>-2(3)</sup></td><td></td><td>—</td><td>—</td><td>-3</td><td>-48</td><td>-93</td></tr><tr><td>Branch consolidation, property and equipment charges</td><td></td><td>-11</td><td>-22</td><td>-58</td><td>-56</td><td>-16</td></tr><tr><td>Expenses associated with residential mortgage loan sale</td><td></td><td>-4</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Gain on sale of TDRs held for sale, net</td><td></td><td>—</td><td>—</td><td>—</td><td>—</td><td>35</td></tr><tr><td>Loss on early extinguishment of debt</td><td></td><td>—</td><td>—</td><td>-14</td><td>-43</td><td>—</td></tr><tr><td>Salary and employee benefits—severance charges</td><td></td><td>-61</td><td>-10</td><td>-21</td><td>-6</td><td>—</td></tr><tr><td>Adjusted non-interest expense (non-GAAP)</td><td>D</td><td>$3,434</td><td>$3,419</td><td>$3,387</td><td>$3,325</td><td>$3,244</td></tr><tr><td>Net interest income and other financing income (GAAP)</td><td>E</td><td>$3,735</td><td>$3,539</td><td>$3,398</td><td>$3,305</td><td>$3,279</td></tr><tr><td>Reduction in leveraged lease interest income resulting from tax reform</td><td></td><td>—</td><td>6</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Adjusted net interest income and other financing income (non-GAAP)</td><td>F</td><td>$3,735</td><td>$3,545</td><td>$3,398</td><td>$3,305</td><td>$3,279</td></tr><tr><td>Net interest income and other financing income (GAAP)</td><td></td><td>$3,735</td><td>$3,539</td><td>$3,398</td><td>$3,305</td><td>$3,279</td></tr><tr><td>Taxable-equivalent adjustment</td><td></td><td>51</td><td>90</td><td>84</td><td>75</td><td>63</td></tr><tr><td>Net interest income and other financing income, taxable-equivalent basis - continuing operations</td><td>G</td><td>3,786</td><td>3,629</td><td>3,482</td><td>3,380</td><td>3,342</td></tr><tr><td>Reduction in leveraged lease interest income resulting from Tax Reform</td><td></td><td>—</td><td>6</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Adjusted net interest income and other financing income, taxable equivalent basis (non-GAAP)</td><td>H</td><td>$3,786</td><td>$3,635</td><td>$3,482</td><td>$3,380</td><td>$3,342</td></tr><tr><td>Net interest margin (GAAP)<sup>(4)</sup></td><td></td><td>3.50%</td><td>3.32%</td><td>3.14%</td><td>3.13%</td><td>3.21%</td></tr><tr><td>Reduction in leveraged lease interest income resulting from Tax Reform</td><td></td><td>—</td><td>0.01</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Adjusted net interest margin (non-GAAP)</td><td></td><td>3.50%</td><td>3.33%</td><td>3.14%</td><td>3.13%</td><td>3.21%</td></tr><tr><td>Non-interest income (GAAP)</td><td>I</td><td>2,019</td><td>1,962</td><td>2,011</td><td>1,937</td><td>1,785</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>-1</td><td>-19</td><td>-6</td><td>-29</td><td>-27</td></tr><tr><td>Insurance proceeds<sup>-5</sup></td><td></td><td>—</td><td>—</td><td>-50</td><td>-91</td><td>—</td></tr><tr><td>Leveraged lease termination gains</td><td></td><td>-8</td><td>-1</td><td>-8</td><td>-8</td><td>-10</td></tr><tr><td>Gain on sale of affordable housing residential mortgage loans<sup>-6</sup></td><td></td><td>—</td><td>-5</td><td>-5</td><td>—</td><td>—</td></tr><tr><td>Adjusted non-interest income (non-GAAP)</td><td>J</td><td>2,010</td><td>1,937</td><td>1,942</td><td>1,809</td><td>1,748</td></tr><tr><td>Total revenue</td><td>E+I=K</td><td>$5,754</td><td>$5,501</td><td>$5,409</td><td>$5,242</td><td>$5,064</td></tr><tr><td>Adjusted total revenue (non-GAAP)</td><td>F+J=L</td><td>$5,745</td><td>$5,482</td><td>$5,340</td><td>$5,114</td><td>$5,027</td></tr><tr><td>Total revenue, taxable-equivalent basis</td><td>G+I=M</td><td>$5,805</td><td>$5,591</td><td>$5,493</td><td>$5,317</td><td>$5,127</td></tr><tr><td>Adjusted total revenue, taxable-equivalent basis (non-GAAP)</td><td>H+J=N</td><td>$5,796</td><td>$5,572</td><td>$5,424</td><td>$5,189</td><td>$5,090</td></tr><tr><td>Efficiency ratio (GAAP)</td><td>C/M</td><td>61.50%</td><td>62.44%</td><td>63.42%</td><td>65.42%</td><td>64.72%</td></tr><tr><td>Adjusted efficiency ratio (non-GAAP)</td><td>D/N</td><td>59.26%</td><td>61.35%</td><td>62.46%</td><td>64.08%</td><td>63.72%</td></tr><tr><td>Fee income ratio (GAAP)</td><td>I/M</td><td>34.78%</td><td>35.09%</td><td>36.62%</td><td>36.42%</td><td>34.82%</td></tr><tr><td>Adjusted fee income ratio (non-GAAP)</td><td>J/N</td><td>34.68%</td><td>34.80%</td><td>35.82%</td><td>34.87%</td><td>34.34%</td></tr></table>
<table><tr><td><i>Millions</i></td><td><i>2014</i></td><td><i>2013</i></td><td><i>2012</i></td><td><i>% Change</i> <i>2014 v 2013</i></td><td><i>% Change 2013 v 2012</i></td></tr><tr><td>Freight revenues</td><td>$22,560</td><td>$20,684</td><td>$19,686</td><td>9%</td><td>5%</td></tr><tr><td>Other revenues</td><td>1,428</td><td>1,279</td><td>1,240</td><td>12%</td><td>3%</td></tr><tr><td>Total</td><td>$23,988</td><td>$21,963</td><td>$20,926</td><td>9%</td><td>5%</td></tr></table>

Question: Does the value of Net income (GAAP) in 2017 greater than that in 2018?
Answer: no