Table:
| (In millions) | 2019 | 2018 | 2017 |
| --- | --- | --- | --- |
| 2019 Three-year PSU Awards | $ 4.3 | $ — | $ — |
| 2018 Three-year PSU Awards | 0.2 | 2.7 | — |
| 2017 Three-year PSU Awards(1) | — | 3.7 | 9.8 |
| 2017 COO and Chief Executive Officer-Designate 2017 New Hire Equity Awards | 0.2 | 0.2 | 0.1 |
| 2016 Three-year PSU Awards(1) | — | (3.0 ) | 2.0 |
| 2016 President & CEO Inducement Award | — | — | 0.5 |
| 2015 Three-year PSU Awards | — | — | (0.8) |
| 2014 Special PSU Awards(2) | — | — | 3.2 |
| SLO Awards | 3.2 | 1.6 | 1.1 |
| Other long-term share-based incentive compensation programs(3)(4) | 26.5 | 24.7 | 32.6 |
| Total share-based incentive compensation expense(5) | $ 34.4 | $ 29.9 | $ 48.5 |
| Associated tax benefits recognized | $ 5.8 | $ 4.9 | $ 11.8 |
Paragraphs:
The following table years ended December 31, 2019, 2018 and 2017 related to the Company’s PSU awards, SLO awards and restricted stock awards.
(1) On May 18, 2017, The Organization and Compensation Committee of our Board of Directors (“O&C Committee”) approved a change in the vesting policy regarding the existing 2017 Three-year PSU Awards and 2016 Three-year PSU Awards for Ilham Kadri. The approved change resulted in a pro-rata share of vesting calculated on the close date of the sale of Diversey. Dr. Kadri’s awards were still subject to the performance metrics stipulated in the plan documents, and will be paid out in accordance with the original planned timing.
(2) The amount does not include expense related to the 2014 Special PSU awards that were settled in cash of $1.0 million in the year ended December 31, 2017.
(3) The amount includes the expenses associated with the restricted stock awards consisting of restricted stock shares, restricted stock units and cash-settled restricted stock unit awards.
(4) On August 4, 2017, the Equity Award Committee approved a change in the vesting condition regarding the existing long-term share-based compensation programs transferring to Diversey as part of the sale of Diversey. The approved change resulted in a pro-rata share of vesting calculated on the close date of the sale of Diversey. In December 2018, the Equity Award Committee approved a change in the vesting condition for certain individuals who would be leaving the Company under a phase of our Reinvent SEE Restructuring program. For both modifications, we recorded the cumulative expense of the higher fair value of the impacted awards at modification approval.
(5) The amounts do not include the expense related to our U.S. profit sharing contributions made in the form of our common stock as these contributions are not considered share-based incentive compensation.
Question:
What is the average annual Total share-based incentive compensation expense?
Answer: (34.4+29.9+48.5)/3 = 37.6