Table of Contents Effective in the first quarter of 2018, we have revised our net sales per hectoliter performance discussions to include a brand volume basis as defined above (with the exception of the STW to STR adjustment) with the net sales revenue component reflecting owned and actively managed brands as well as royalty revenue consistent with how management views the business. We continue to also discuss net sales per hectoliter performance on a reported basis. Our worldwide brand volume decreased in 2018 compared to 2017, due to declines in the U.S. and Canada, partially offset by growth in Europe and International. Worldwide brand volume increased in 2017 compared to 2016, due to the Acquisition as well as strong growth in Europe and International partially as a result of adding the  Miller  global brands business as well as growth within our existing brand portfolio. The following table highlights the drivers of change in net sales for the year ended December 31, 2018, versus December 31, 2017, by segment (in percentages) and excludes Corporate net sales revenue for our water resources and energy operations in the state of Colorado. (1) Includes the impacts of the adoption of the new accounting pronouncement related to revenue recognition as discussed above. See Part II— Item 8 Financial Statements and Supplementary Data,  Note 1, "Basis of Presentation and Summary of Significant Accounting Policies"  and Note 2, "New Accounting Pronouncements " for further discussion on the adoption of this revenue recognition guidance. (2) Europe "Other" column includes the impacts of the release of an indirect tax provision in 2017 as further described in the Results of Operations. Volume Price, Product and Geography Mix (1) Currency Other (2) Total Consolidated (2.9 )% 0.7  % 0.5  % (0.4 )% (2.1 )% U.S. (5.1)% 1.9 % — % (0.1)% (3.3)% Canada (2.9 )% (1.6 )% —  % —  % (4.5 )% Europe 2.1 % 0.4 % 3.3 % (2.6)% 3.2 % International (7.5 )% 3.5  % (1.3 )% —  % (5.3 )% For the years ended December 31, 2018 Change December 31, 2017 Change December 31, 2016 (In millions, except percentages) Volume in hectoliters: Financial volume 96.627 (2.9)% 99.563 112.2 % 46.912 Less: Contract brewing and wholesaler volume (8.182 ) (4.9 )% (8.602 ) 108.6  % (4.124 ) Add: Royalty volume 4.054 10.0 % 3.685 75.3 % 2.102 Add: STW to STR adjustment (0.358 ) (47.9 )% (0.687 ) N/M 0.707 Owned volume 92.141 (1.9)% 93.959 106.1 % 45.597 Add: Proportionate share of equity investment worldwide brand volume — —  % — (100.0 )% 19.940 Total worldwide brand volume 92.141 (1.9)% 93.959 43.4 % 65.537 N/M = Not meaningful Net Sales Drivers 42