Israel Corporation Ltd. reported consolidated earnings results for the fourth quarter and full year ended December 31, 2016. The company's consolidated net income for the fourth quarter of 2016 was $3 million compared with $50 million in the fourth quarter of 2015. For 2016, the company's net loss was $116 million compared with a net income of $440 million for 2015. As a holding company, the company's consolidated financial results are impacted mainly by the results of its portfolio companies: ICL and Bazan. Net debt as of December 31, 2016 totaled $1,379 million. The net debt includes the impact of the fair value of the collar transaction, which decrease the economic value of the financial liabilities in the amount of $74 million. The net debt also includes the fair value of derivatives transactions, which increase the economic value of the financial liabilities in the amount of $4 million. This is compared with a net debt of $1,368 million as of September 30, 2016.