Question: What was the total amount of Balance% in the range of 0 and 200000 in 2009 ? (in thousand)

def solution():
    # Define variables name and value
    value1 = 163951
    value2 = 22816

    # Do math calculation to get the answer
    answer = value1 + value2

    return answer

Table of Contents 16 Other Equity Method Investments InfraServs.

We hold indirect ownership interests in several German InfraServ Groups that own and develop industrial parks and provide on-site general and administrative support to tenants.

Our ownership interest in the equity investments in InfraServ affiliates are as follows:

||As of December 31, 2017 (In percentages)|
|InfraServ GmbH & Co. Gendorf KG-1|39|
|InfraServ GmbH & Co. Hoechst KG|32|
|InfraServ GmbH & Co. Knapsack KG-1|27|

(1) See Note 29 - Subsequent Events in the accompanying consolidated financial statements for further information.

Research and Development Our business models leverage innovation and conduct research and development activities to develop new, and optimize existing, production technologies, as well as to develop commercially viable new products and applications.

Research and development expense was $72 million, $78 million and $119 million for the years ended December 31, 2017, 2016 and 2015, respectively.

We consider the amounts spent during each of the last three fiscal years on research and development activities to be sufficient to execute our current strategic initiatives.

Intellectual Property We attach importance to protecting our intellectual property, including safeguarding our confidential information and through our patents, trademarks and copyrights, in order to preserve our investment in research and development, manufacturing and marketing.

Patents may cover processes, equipment, products, intermediate products and product uses.

We also seek to register trademarks as a means of protecting the brand names of our Company and products.

In most industrial countries, patent protection exists for new substances and formulations, as well as for certain unique applications and production processes.

However, we do business in regions of the world where intellectual property protection may be limited and difficult to enforce.

We maintain stringent information security policies and procedures wherever we do business.

Such information security policies and procedures include data encryption, controls over the disclosure and safekeeping of confidential information and trade secrets, as well as employee awareness training.

and certain other branded products and services named in this document are registered or reserved trademarks or service marks owned or licensed by Celanese.

The foregoing is not intended to be an exhaustive or comprehensive list of all registered or reserved trademarks and service marks owned or licensed by Celanese.

is a registered trademark of Fortron Industries LLC.

is a registered trademark of Hoechst GmbH.

are registered trademarks of Celanese in most European countries.

We monitor competitive developments and defend against infringements on our intellectual property rights.

Neither Celanese nor any particular business segment is materially dependent upon any one patent, trademark, copyright or trade secret.

Environmental and Other Regulation Matters pertaining to environmental and other regulations are discussed in Item 1A.

Risk Factors, as well as Note 2 - Summary of Accounting Policies, Note 16 - Environmental and Note 24 - Commitments and Contingencies in the accompanying consolidated financial statements.

NOTE 7 - BANK LOANS, NET: Bank client receivables are comprised of loans originated or purchased by RJ Bank and include commercial and residential real estate loans, as well as commercial and consumer loans.

These receivables are collateralized by first or second mortgages on residential or other real property, by other assets of the borrower or are unsecured.

The following table presents the balance and associated percentage of each major loan category in RJ Bank's portfolio, including loans receivable and loans available for sale:

(1) Of this amount, $1.2 billion, $1.2 billion, $687 million, $393 million and $137 million is secured by non-owner occupied commercial real estate properties or their repayment is dependent upon the operation or sale of commercial real estate properties as of September 30, 2009, 2008, 2007, 2006 and 2005, respectively.

The remainder is wholly or partially secured by real estate, the majority of which is also secured by other assets of the borrower.

(2) Includes purchase premiums, purchase discounts, and net deferred origination fees and costs.

At September 30, 2009 and September 30, 2008, RJ Bank had $950 million and $1.7 billion, respectively, in FHLB advances secured by a blanket lien on RJ Bank's residential mortgage loan portfolio.

See Note 11 for more information regarding the FHLB advances.

At September 30, 2009 and 2008, RJ Bank had $40.5 million and $524,000 in loans held for sale, respectively.

RJ Bank's gain from the sale of these loans held for sale was $676,000, $364,000 and $518,000 for the years ended September 30, 2009, 2008 and 2007, respectively

business conducted annually with each institution.

Fixed income commissions are based on trade size and the characteristics of the specific security involved.

Capital Markets Commissions For the Fiscal Years Ended:

Approximately 100 domestic and overseas professionals in RJ&A's Institutional Equity Sales and Sales Trading Departments maintain relationships with over 1,190 institutional clients, principally in North America and Europe.

In addition to our headquarters in St.  Petersburg, Florida, RJ&A has institutional equity sales offices in New York City, Boston, Chicago, Los Angeles, San Francisco, London, Geneva, Brussels, Dusseldorf, Luxembourg and Paris.

European offices also provide services to high net worth clients.

RJ Ltd.  has 33 institutional equity sales and trading professionals servicing predominantly Canadian institutional investors from offices in Montreal, Toronto and Vancouver.

RJ&A distributes to institutional clients both taxable and tax-exempt fixed income products, primarily municipal, corporate, government agency and mortgage-backed bonds.

RJ&A carries inventory positions of taxable and tax-exempt securities in both the primary and secondary markets to facilitate institutional sales activities.

In addition to St.  Petersburg, the Fixed Income Department maintains institutional sales and trading offices in New York City, Chicago and 20 other cities throughout the U. S.  Trading Trading equity securities involves the purchase and sale of securities from/to our clients or other dealers.

Profits and losses are derived from the spreads between bid and asked prices, as well as market trends for the individual securities during the period we hold them.

RJ&A makes markets in approximately 680 common stocks.

Similar to the equity research department, this operation serves to support both our Institutional and Private Client Group sales efforts.

The RJ Ltd.  Institutional and Private Client Group trading desks not only support client activity, but also take proprietary positions.

RJ Ltd.  also provides specialist services in approximately 160 TSX listed common stocks.

RJ&A trades both taxable and tax-exempt fixed income products.

The taxable and tax-exempt RJ&A fixed income traders purchase and sell corporate, municipal, government, government agency, and mortgage-backed bonds, asset backed securities, preferred stock and certificates of deposit from/to our clients or other dealers.

RJ&A enters into future commitments such as forward contracts and “to be announced” securities (e. g.  securities having a stated coupon and original term to maturity, although the issuer and/or the specific pool of mortgage loans is not known at the time of the transaction).

Low levels of proprietary trading positions are also periodically taken by RJ&A for various purposes and are closely monitored within well defined limits.

In addition, a subsidiary of RJF, RJ Capital Services Inc. , participates in the interest rate swaps market as a principal, both for economically hedging RJ&A fixed income inventory and for transactions with customers.

Equity Research The domestic senior analysts in RJ&A's research department support our institutional and retail sales efforts and publish research on approximately 725 companies.

This research primarily focuses on U. S.  companies in specific industries including technology, telecommunications, consumer, financial services, business and industrial services, healthcare, real estate and energy.

Proprietary industry studies and company-specific research reports are made available to both institutional and individual clients.

RJ Ltd.  has an additional 16 analysts who publish research on approximately 200 companies focused in the energy, energy services, mining, forest products, biotechnology, technology, clean technology, consumer and industrial products, REIT and income trust sectors.

These analysts, combined with 12 additional analysts located in France (whose services are obtained through a joint venture there), represent our global research effort within the Capital Markets segment.

The following table shows the distribution of those RJ Bank loans that mature in more than one year between fixed and adjustable interest rate loans at September 30, 2009:

Answer: 186767.0


Question: What's the current increasing rate of Pass-through securities? (in %)

def solution():
    pass_through_securities_2008 = 10003
    pass_through_securities_2007 = 18692

    difference = pass_through_securities_2008 - pass_through_securities_2007
    increase_rate = (difference / pass_through_securities_2007) * 100

    return increase_rate

Subscription Cost of subscription revenue consists of third-party royalties and expenses related to operating our network infrastructure, including depreciation expenses and operating lease payments associated with computer equipment, data center costs, salaries and related expenses of network operations, implementation, account management and technical support personnel, amortization of intangible assets and allocated overhead.

We enter into contracts with third-parties for the use of their data center facilities and our data center costs largely consist of the amounts we pay to these third parties for rack space, power and similar items.

Cost of subscription revenue increased due to the following:

||% Change2014-2013|% Change2013-2012|
|Data center cost|10%|11%|
|Compensation cost and related benefits associated with headcount|4|5|
|Depreciation expense|3|3|
|Royalty cost|3|4|
|Amortization of purchased intangibles|—|4|
|Various individually insignificant items|1|—|
|Total change|21%|27%|

Cost of subscription revenue increased during fiscal 2014 as compared to fiscal 2013 primarily due to data center costs, compensation cost and related benefits, deprecation expense, and royalty cost.

Data center costs increased as compared with the year-ago period primarily due to higher transaction volumes in our Adobe Marketing Cloud and Creative Cloud services.

Compensation cost and related benefits increased as compared to the year-ago period primarily due to additional headcount in fiscal 2014, including from our acquisition of Neolane in the third quarter of fiscal 2013.

Depreciation expense increased as compared to the year-ago period primarily due to higher capital expenditures in recent periods as we continue to invest in our network and data center infrastructure to support the growth of our business.

Royalty cost increased primarily due to increases in subscriptions and downloads of our SaaS offerings.

Cost of subscription revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to increased hosted server costs and amortization of purchased intangibles.

Hosted server costs increased primarily due to increases in data center costs related to higher transaction volumes in our Adobe Marketing Cloud and Creative Cloud services, depreciation expense from higher capital expenditures in prior years and compensation and related benefits driven by additional headcount.

Amortization of purchased intangibles increased primarily due to increased amortization of intangible assets purchased associated with our acquisitions of Behance and Neolane in fiscal 2013.

Services and Support Cost of services and support revenue is primarily comprised of employee-related costs and associated costs incurred to provide consulting services, training and product support.

Cost of services and support revenue increased during fiscal 2014 as compared to fiscal 2013 primarily due to increases in compensation and related benefits driven by additional headcount and third-party fees related to training and consulting services provided to our customers.

Cost of services and support revenue increased during fiscal 2013 as compared to fiscal 2012 primarily due to increases in third-party fees related to training and consulting services provided to our customers and compensation and related benefits driven by additional headcount, including headcount from our acquisition of Neolane in fiscal 2013.

with the disposition of real estate property and other investment transactions.

The Company’s recorded liabilities were $6 million at both December 31, 2008 and 2007 for indemnities, guarantees and commitments.

In connection with synthetically created investment transactions, the Company writes credit default swap obligations that generally require payment of principal outstanding due in exchange for the referenced credit obligation.

If a credit event, as defined by the contract, occurs the Company’s maximum amount at risk, assuming the value of all referenced credit obligations is zero, was $1.9 billion at December 31, 2008.

However, the Company believes that any actual future losses will be significantly lower than this amount.

Additionally, the Company can terminate these contracts at any time through cash settlement with the counterparty at an amount equal to the then current estimated fair value of the credit default swaps.

As of December 31, 2008, the Company would have paid $37 million to terminate all of these contracts.

Other Commitments MetLife Insurance Company of Connecticut is a member of the Federal Home Loan Bank of Boston (the “FHLB of Boston”) and holds $70 million of common stock of the FHLB of Boston at both December 31, 2008 and 2007, which is included in equity securities.

MICC has also entered into funding agreements with the FHLB of Boston whereby MICC has issued such funding agreements in exchange for cash and for which the FHLB of Boston has been granted a blanket lien on certain MICC assets, including residential mortgage-backed securities, to collateralize MICC’s obligations under the funding agreements.

MICC maintains control over these pledged assets, and may use, commingle, encumber or dispose of any portion of the collateral as long as there is no event of default and the remaining qualified collateral is sufficient to satisfy the collateral maintenance level.

Upon any event of default by MICC, the FHLB of Boston’s recovery on the collateral is limited to the amount of MICC’s liability to the FHLB of Boston.

The amount of the Company’s liability for funding agreements with the FHLB of Boston was $526 million and $726 million at December 31, 2008 and 2007, respectively, which is included in policyholder account balances.

In addition, at December 31, 2008, MICC had advances of $300 million from the FHLB of Boston with original maturities of less than one year and therefore, such advances are included in short-term debt.

These advances and the advances on these funding agreements are collateralized by mortgage-backed securities with estimated fair values of $1.3 billion and $901 million at December 31, 2008 and 2007, respectively.

Metropolitan Life Insurance Company is a member of the FHLB of NY and holds $830 million and $339 million of common stock of the FHLB of NY at December 31, 2008 and 2007, respectively, which is included in equity securities.

MLIC has also entered into funding agreements with the FHLB of NY whereby MLIC has issued such funding agreements in exchange for cash and for which the FHLB of NY has been granted a lien on certain MLIC assets, including residential mortgage-backed securities to collateralize MLIC’s obligations under the funding agreements.

MLIC maintains control over these pledged assets, and may use, commingle, encumber or dispose of any portion of the collateral as long as there is no event of default and the remaining qualified collateral is sufficient to satisfy the collateral maintenance level.

Upon any event of default by MLIC, the FHLB of NY’s recovery on the collateral is limited to the amount of MLIC’s liability to the FHLB of NY.

The amount of the Company’s liability for funding agreements with the FHLB of NY was $15.2 billion and $4.6 billion at December 31, 2008 and 2007, respectively, which is included in policyholder account balances.

The advances on these agreements are collateralized by mortgage-backed securities with estimated fair values of $17.8 billion and $4.8 billion at December 31, 2008 and 2007, respectively.

MetLife Bank is a member of the FHLB of NY and holds $89 million and $64 million of common stock of the FHLB of NY at December 31, 2008 and 2007, respectively, which is included in equity securities.

MetLife Bank has also entered into repurchase agreements with the FHLB of NY whereby MetLife Bank has issued repurchase agreements in exchange for cash and for which the FHLB of NY has been granted a blanket lien on MetLife Bank’s residential mortgages and mortgage-backed securities to collateralize MetLife Bank’s obligations under the repurchase agreements.

MetLife Bank maintains control over these pledged assets, and may use, commingle, encumber or dispose of any portion of the collateral as long as there is no event of default and the remaining qualified collateral is sufficient to satisfy the collateral maintenance level.

The repurchase agreements and the related security agreement represented by this blanket lien provide that upon any event of default by MetLife Bank, the FHLB of NY’s recovery is limited to the amount of MetLife Bank’s liability under the outstanding repurchase agreements.

The amount of the Company’s liability for repurchase agreements with the FHLB of NY was $1.8 billion and $1.2 billion at December 31, 2008 and 2007, respectively, which is included in long-term debt and short-term debt depending on the original tenor of the advance.

The advances on these repurchase agreements are collateralized by residential mortgagebacked securities and residential mortgage loans with estimated fair values of $3.1 billion and $1.3 billion at December 31, 2008 and 2007, respectively.

Collateral for Securities Lending The Company has non-cash collateral for securities lending on deposit from customers, which cannot be sold or repledged, and which has not been recorded on its consolidated balance sheets.

The amount of this collateral was $279 million and $40 million at December 31, 2008 and 2007, respectively.

Goodwill Goodwill is the excess of cost over the estimated fair value of net assets acquired.

Goodwill is not amortized but is tested for impairment at least annually or more frequently if events or circumstances, such as adverse changes in the business climate, indicate that there may be justification for conducting an interim test.

Impairment testing is performed using the fair value approach, which requires the use of estimates and judgment, at the “reporting unit” level.

A reporting unit is the operating segment or a business one level below the operating segment, if discrete financial information is prepared and regularly reviewed by management at that level.

Information regarding changes in goodwill is as follows:

The Subsidiaries recognized no other postretirement benefit expense in 2008 as compared to $8 million in 2007 and $58 million in 2006.

The major components of net periodic other postretirement benefit plan cost described above were as follows:

||Years Ended December 31,|
||2008|2007|2006|
||(In millions)|
|Service cost|$21|$27|$35|
|Interest cost|103|103|116|
|Expected return on plan assets|-86|-86|-79|
|Amortization of net actuarial (gains) losses|-1|—|22|
|Amortization of prior service cost (credit)|-37|-36|-36|
|Net periodic benefit cost|$—|$8|$58|

The decrease in benefit cost from 2006 to 2007 primarily resulted from a change in the Medicare integration methodology for certain retirees.

The decrease in benefit cost from 2007 to 2008 was due to primarily to increases in the discount rate and better than expected medical trend experience.

For 2009 postretirement benefit expense, we anticipate an increase of approximately $25 million due to poor plan asset performance as a result of the economic downturn of the financial markets.

The expected increase in expense can be attributed to lower expected return on assets and increased amortization of net actuarial losses.

The estimated net actuarial losses and prior service credit for the other postretirement benefit plans that will be amortized from accumulated other comprehensive income (loss) into net periodic benefit cost over the next year are less than $10 million and ($36) million, respectively.

The weighted average discount rate used to calculate the net periodic postretirement cost was 6.65%, 6.00% and 5.82% for the years ended December 31, 2008, 2007 and 2006, respectively.

The weighted average expected rate of return on plan assets used to calculate the net other postretirement benefit plan cost for the years ended December 31, 2008, 2007 and 2006 was 7.33%, 7.47% and 7.42%, respectively.

The expected rate of return on plan assets is based on anticipated performance of the various asset sectors in which the plan invests, weighted by target allocation percentages.

Anticipated future performance is based on long-term historical returns of the plan assets by sector, adjusted for the Subsidiaries’ longterm expectations on the performance of the markets.

While the precise expected return derived using this approach will fluctuate from year to year, the Subsidiaries’ policy is to hold this long-term assumption constant as long as it remains within reasonable tolerance from the derived rate.

Based on the December 31, 2008 asset balances, a 25 basis point increase (decrease) in the expected rate of return on plan assets would result in a decrease (increase) in net periodic benefit cost of $3 million for the other postretirement benefit plans.

Funding and Cash Flows of Pension and Other Postretirement Benefit Plan Obligations Pension Plan Obligations It is the Subsidiaries’ practice to make contributions to the qualified pension plans to comply with minimum funding requirements of ERISA, as amended.

In accordance with such practice, no contributions were required for the years ended December 31, 2008 or 2007.

No contributions will be required for 2009.

The Subsidiaries made a discretionary contribution of $300 million to the qualified pension plans during the year ended December 31, 2008.

During the year ended December 31, 2007, the Subsidiaries did not make any discretionary contributions to the qualified pension plans.

The Subsidiaries expect to make additional discretionary contributions of $150 million in 2009.

Benefit payments due under the non-qualified pension plans are funded from the Subsidiaries’ general assets as they become due under the provision of the plans.

These payments totaled $43 million and $48 million for the years ended December 31, 2008 and 2007, respectively.

These benefit payments are expected to be at approximately the same level in 2009.

Gross pension benefit payments for the next ten years, which reflect expected future service as appropriate, are expected to be as follows:

Other Postretirement Benefit Plan Obligations Other postretirement benefits represent a non-vested, non-guaranteed obligation of the Subsidiaries and current regulations do not require specific funding levels for these benefits.

While the Subsidiaries have partially funded such plans in advance, it has been the Subsidiaries’ practice to primarily use their general assets, net of participants’ contributions, to pay postretirement medical claims as they come due in lieu of utilizing plan assets.

Total payments equaled $149 million and $173 million for the years ended December 31, 2008 and 2007, respectively.

The Subsidiaries’ expect to make contributions of $120 million, net of participants’ contributions, towards the other postretirement plan obligations in 2009.

As noted previously, the Subsidiaries expect to receive subsidies under the Prescription Drug Act to partially offset such payments.

The table below shows the major industry types that comprise the corporate fixed maturity holdings at:

(1) Includes U. S.  dollar-denominated debt obligations of foreign obligors, and other fixed maturity foreign investments.

The Company maintains a diversified corporate fixed maturity portfolio across industries and issuers.

The portfolio does not have exposure to any single issuer in excess of 1% of the total invested assets of the portfolio.

At December 31, 2008 and 2007, the Company’s combined holdings in the ten issuers to which it had the greatest exposure totaled $8.4 billion and $7.8 billion, respectively, the total of these ten issuers being less than 3% of the Company’s total invested assets at such dates.

The exposure to the largest single issuer of corporate fixed maturity securities held at December 31, 2008 and 2007 was $1.5 billion and $1.2 billion, respectively.

The Company has hedged all of its material exposure to foreign currency risk in its corporate fixed maturity portfolio.

In the Company’s international insurance operations, both its assets and liabilities are generally denominated in local currencies.

The following table shows the types of structured securities the Company held at:

|| December 31,|
||2008| 2007|
|| Estimated |% of| Estimated | % of |
|| Fair Value|Total| Fair Value| Total|
||| (In millions)||
|Residential mortgage-backed securities:|||||
|Collateralized mortgage obligations|$26,025|44.0%|$36,303|44.0%|
|Pass-through securities|10,003|16.8|18,692|22.6|
|Total residential mortgage-backed securities|36,028|60.8|54,995|66.6|
|Commercial mortgage-backed securities|12,644|21.4|16,993|20.6|
|Asset-backed securities|10,523|17.8|10,572|12.8|
|Total|$59,195|100.0%|$82,560|100.0%|

Collateralized mortgage obligations are a type of mortgage-backed security that creates separate pools or tranches of pass-through cash flows for different classes of bondholders with varying maturities.

Pass-through mortgage-backed securities are a type of assetbacked security that is secured by a mortgage or collection of mortgages.

The monthly mortgage payments from homeowners pass from the originating bank through an intermediary, such as a government agency or investment bank, which collects the payments, and for fee, remits or passes these payments through to the holders of the pass-through securities.

At December 31, 2008, the exposures in the Company’s residential mortgage-backed securities portfolio consist of agency, prime, and alternative residential mortgage loans (“Alt-A”) securities of 68%, 23%, and 9% of the total holdings, respectively.

At December 31, 2008 and 2007, $33.3 billion and $54.7 billion, respectively, or 92% and 99% respectively, of the residential mortgage-backed securities were rated Aaa/AAA by Moody’s, S&P or Fitch.

The majority of the agency residential mortgagebacked securities are guaranteed or otherwise supported by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation or the Government National Mortgage Association.

Prime residential mortgage lending includes the origination of residential mortgage loans to the most credit-worthy customers with high quality credit profiles.

Alt-A residential mortgage loans are a classification of mortgage loans where the risk profile of the borrower falls between prime and sub-prime.

At December 31, 2008 and 2007, the Company’s Alt-A residential mortgage-backed securities exposure was $3.4 billion and $6.3 billion, respectively, with an unrealized loss of $1,963 million and $139 million, respectively.

At December 31, 2008 and December 31, 2007, $2.1 billion and $6.3 billion, respectively, or 63% and 99%, respectively, of the Company’s Alt-A residential mortgage-backed securities were rated Aa/AA or better by Moody’s, S&P or Fitch; At December 31, 2008 the Company’s Alt-A holdings are distributed as follows: 23% 2007 vintage year, 25% 2006 vintage year; and 52% in the 2005 and prior vintage years.

Vintage year refers to the year of origination and not to the year of purchase.

In December 2008, certain Alt-A residential mortgage-backed securities experienced ratings downgrades from investment grade to below investment grade, contributing to the decrease year over year cited above in those securities rated Aa/AA or better.

In January 2009 Moody’s revised its loss projections for Alt-A residential mortgage-backed securities, and the Company anticipates that Moody’s will be downgrading virtually all 2006 and 2007 vintage year Alt-A securities to below investment grade, which will increase the percentage of our Alt-A residential mortgage-backed securities portfolio that will be rated below investment grade.

Our analysis suggests that Moody’s is applying essentially

Answer: -46.485127327198796


Question: What's the average of Group Retirement Products* and Individual Fixed Annuities and Individual Fixed Annuities in 2010? (in million)

def solution():
    # Define variables name and value
    group_retirement_products = 59333
    individual_fixed_annuities = 48489
    individual_variable_annuities = 25581
    const_3 = 3

    # Do math calculation to get the answer
    answer = (group_retirement_products + individual_fixed_annuities + individual_variable_annuities) / const_3

    return answer

2010 and 2009 Comparison Surrender rates have improved compared to the prior year for group retirement products, individual fixed annuities and individual variable annuities as surrenders have returned to more normal levels.

Surrender rates for individual fixed annuities have decreased significantly in 2010 due to the low interest rate environment and the relative competitiveness of interest credited rates on the existing block of fixed annuities versus interest rates on alternative investment options available in the marketplace.

Surrender rates for group retirement products are expected to increase in 2011 as certain large group surrenders are anticipated.2009 and 2008 Comparison Surrenders and other withdrawals increased in 2009 for group retirement products primarily due to higher large group surrenders.

However, surrender rates and withdrawals have improved for individual fixed annuities and individual variable annuities.

The following table presents reserves by surrender charge category and surrender rates:

* Excludes mutual funds of $9.0 billion and $8.1 billion in 2010 and 2009, respectively.

Financial Services Operations AIG’s Financial Services subsidiaries engage in diversified activities including commercial aircraft leasing and the remaining Capital Markets portfolios, which are conducted through ILFC and AIGFP, respectively.

Following the classification of AGF as discontinued operations in the third quarter of 2010 (see Note 4 to the Consolidated Financial Statements), AIG’s remaining consumer finance businesses are now reported in AIG’s Other operations category as part of Divested businesses.

As discussed in Note 3 to the Consolidated Financial Statements, in order to align financial reporting with changes made during the third quarter of 2010 to the manner in which AIG’s chief operating decision makers review the businesses to make decisions about resources to be allocated and to assess performance, changes were made to AIG’s segment information.

During the third quarter of 2010, AIG’s Asset Management Group undertook the management responsibilities for non-derivative assets and liabilities of the Capital Markets’ businesses of the Financial Services segment.

These assets and liabilities are being managed on a spread basis, in concert with the MIP.

Accordingly, gains and losses related to these assets and liabilities, primarily consisting of credit valuation adjustment gains and losses are reported in AIG’s Other operations category as part of Asset Management — Direct Investment business.

Also, intercompany interest related to loans from AIG Funding Inc.  (AIG Funding) to AIGFP is no longer being allocated to Capital Markets from Other operations.

The remaining Capital Markets derivatives business continues to be reported in the Financial Services segment as part of Capital Markets results.

American International Group, Inc. , and Subsidiaries solely for illustrative purposes.

The selection of these specific events should not be construed as a prediction, but only as a demonstration of the potential effects of such events.

These scenarios should not be construed as the only risks AIG faces; these events are shown as an indication of several possible losses AIG could experience.

In addition, losses from these and other risks could be materially higher than illustrated.

The sensitivity factors utilized for 2010 and presented above were selected based on historical data from 1990 to 2010, as follows (see the table below): ?

a 100 basis point parallel shift in the yield curve is broadly consistent with a one standard deviation movement of the benchmark ten-year treasury yield; ?

a 20 percent drop for equity and alternative investments is broadly consistent with a one standard deviation movement in the S&P 500; and ?

a 10 percent depreciation of foreign currency exchange rates is consistent with a one standard deviation movement in the U. S.  dollar (USD)/Japanese Yen (JPY) exchange rate.

||Period|StandardDeviation|Suggested2010Scenario|2010 Scenarioas aMultiple ofStandardDeviation|2010 Change/ Return|2010 as aMultiple ofStandardDeviation|Original2009 Scenario(based onStandardDeviation for1989-2009Period)|
|10-Year Treasury|1990-2010|0.01|0.01|1.01|-0.01|0.56|0.01|
|S&P 500|1990-2010|0.19|0.20|1.05|0.13|0.67|0.20|
|USD/JPY|1990-2010|0.11|0.10|0.92|0.15|1.34|0.10|

Operational Risk Management AIG’s Operational Risk Management department (ORM) oversees AIG’s operational risk management practices.

ORM is responsible for establishing and maintaining the framework, principles and guidelines of AIG’s operational risk management program.

Each business unit is responsible for its operational risks and implementing the components of the operational risk management program to effectively identify, assess, monitor and mitigate such risks.

This responsibility includes developing and implementing policies, procedures, management oversight processes, and other governance-related activities consistent with AIG’s overall operational risk management process.

Senior operational risk executives in the businesses report to the Director of ORM and to business management.

This reporting structure facilitates development of business-specific knowledge of operational risk matters, while at the same time maintaining company-wide consistency in AIG’s overall approach to operational risk management.

A strong operational risk management program facilitates escalation and resolution of operational risk issues.

In order to accomplish this, AIG’s operational risk management program is designed to: ?

pro-actively address potential operational risk issues; ?

create transparency at all levels of the organization; and ?

assign clear ownership and accountability for addressing identified issues.

As part of the operational risk management framework, AIG has implemented a risk and control self assessment (RCSA) process.

The RCSA process is used to identify key operational risks and evaluate the effectiveness of existing controls to mitigate those risks.

Corrective action plans are developed to address any identified issues.

In 2010, business units continued to enhance their RCSA processes to perform more robust risk assessments.

American International Group, Inc. , and Subsidiaries AIG’s consolidated risk target is to maintain a minimum liquidity buffer such that AIG Parent’s liquidity needs under the ERM stress scenarios do not exceed 80 percent of AIG Parent’s overall liquidity sources over the specified two-year horizon.

If the 80 percent minimum threshold is projected to be breached over this defined time horizon, AIG will take appropriate actions to further increase liquidity sources or reduce liquidity needs to maintain the target threshold, although no assurance can be given that this would be possible under then-prevailing market conditions.

AIG expects to enter into additional capital maintenance agreements with its U. S.  insurance companies to manage the flow of capital and funds between AIG Parent and the insurance companies.

As a result of these ERM stress tests, AIG believes that it has sufficient liquidity at the AIG Parent level to satisfy future liquidity requirements and meet its obligations, including reasonably foreseeable contingencies or events.

See further discussion regarding AIG Parent and subsidiary liquidity considerations in Liquidity of Parent and Subsidiaries below.

Analysis of sources and uses of cash The following table presents selected data from AIG’s Consolidated Statement of Cash Flows:

| Years Ended December 31, (in millions) |2010|2009|2008|
|Summary:||||
|Net cash provided by (used in) operating activities|$16,910|$18,584|$-122|
|Net cash provided by (used in) investing activities|-10,225|5,778|47,176|
|Net cash used in financing activities|-9,261|-28,997|-40,734|
|Effect of exchange rate changes on cash|39|533|38|
|Change in cash|-2,537|-4,102|6,358|
|Cash at beginning of year|4,400|8,642|2,284|
|Reclassification of assets held for sale|-305|-140|-|
|Cash at end of year|$1,558|$4,400|$8,642|

Net cash provided by operating activities was positive for both 2010 and 2009 compared to negative in 2008, principally due to positive cash flows from AIG’s life insurance subsidiaries.

Insurance companies generally receive most premiums in advance of the payment of claims or policy benefits, but the ability of Chartis to generate positive cash flow is affected by operating expenses, the frequency and severity of losses under its insurance policies and policy retention rates.

Cash provided by Chartis operations was $1.9 billion for 2010 compared to $2.8 billion in 2009 as a reduction in claims paid was more than offset by declines in premiums collected, arising primarily from a decrease in domestic production.

Catastrophic events and significant casualty losses, the timing and effect of which are inherently unpredictable, reduce operating cash flow for Chartis operations.

Cash provided by AIG’s life insurance subsidiaries, including entities presented as discontinued operations, was $15.5 billion for 2010 compared to $9.1 billion in 2009 as growth in international markets was partially offset by a decrease in cash flows from domestic operations.

Cash flows provided from Financial Services including entities presented as discontinued operations were $1.4 billion and $5.4 billion for 2010 and 2009, respectively.

The decrease can be attributed in part to the continued wind-down of AIGFP’s businesses and portfolio.

Cash provided by Chartis was $2.8 billion for 2009 compared to $4.8 billion in 2008 as a reduction in claims paid was more than offset by reduced premiums collected.

Cash provided by life insurance operations, including entities presented as discontinued operations, was $9.1 billion for 2009 compared to $22 billion in 2008.

Reduced cash flows were primarily driven by the continuing impact of the negative events during the second half of 2008.

Cash provided from Financial Services, including entities presented as discontinued operations, was $5.4 billion for 2009 compared to $28.9 billion operating cash outflows in 2008, primarily related to collateral posting requirements.

Although many clients use both active and passive strategies, the application of these strategies differs greatly.

For example, clients may use index products to gain exposure to a market or asset class pending reallocation to an active manager.

This has the effect of increasing turnover of index AUM.

In addition, institutional non-ETP index assignments tend to be very large (multibillion dollars) and typically reflect low fee rates.

This has the potential to exaggerate the significance of net flows in institutional index products on BlackRock’s revenues and earnings.

Equity Year-end 2012 equity AUM of $1.845 trillion increased by $285.4 billion, or 18%, from the end of 2011, largely due to flows into regional, country-specific and global mandates and the effect of higher market valuations.

Equity AUM growth included $54.0 billion in net new business and $3.6 billion in new assets related to the acquisition of Claymore.

Net new business of $54.0 billion was driven by net inflows of $53.0 billion and $19.1 billion into iShares and non-ETP index accounts, respectively.

Passive inflows were offset by active net outflows of $18.1 billion, with net outflows of $10.0 billion and $8.1 billion from fundamental and scientific active equity products, respectively.

Passive strategies represented 84% of equity AUM with the remaining 16% in active mandates.

Institutional investors represented 62% of equity AUM, while iShares, and retail and HNW represented 29% and 9%, respectively.

At year-end 2012, 63% of equity AUM was managed for clients in the Americas (defined as the United States, Caribbean, Canada, Latin America and Iberia) compared with 28% and 9% managed for clients in EMEA and Asia-Pacific, respectively.

BlackRock’s effective fee rates fluctuate due to changes in AUM mix.

Approximately half of BlackRock’s equity AUM is tied to international markets, including emerging markets, which tend to have higher fee rates than similar U. S.  equity strategies.

Accordingly, fluctuations in international equity markets, which do not consistently move in tandem with U. S.  markets, may have a greater impact on BlackRock’s effective equity fee rates and revenues.

Fixed Income Fixed income AUM ended 2012 at $1.259 trillion, rising $11.6 billion, or 1%, relative to December 31, 2011.

Growth in AUM reflected $43.3 billion in net new business, excluding the two large previously mentioned low-fee outflows, $75.4 billion in market and foreign exchange gains and $3.0 billion in new assets related to Claymore.

Net new business was led by flows into domestic specialty and global bond mandates, with net inflows of $28.8 billion, $13.6 billion and $3.1 billion into iShares, non-ETP index and model-based products, respectively, partially offset by net outflows of $2.2 billion from fundamental strategies.

Fixed Income AUM was split between passive and active strategies with 48% and 52%, respectively.

Institutional investors represented 74% of fixed income AUM while iShares and retail and HNW represented 15% and 11%, respectively.

At year-end 2012, 59% of fixed income AUM was managed for clients in the Americas compared with 33% and 8% managed for clients in EMEA and AsiaPacific, respectively.

Multi-Asset Class Component Changes in Multi-Asset Class AUM

Answer: 44467.666666666664


Question: What's the sum of all element that are greater than 10000 in Mar 31, 2008 (in thousand)

def solution():
    # Define variables name and value
    num1 = 12402
    num2 = 19295
    num3 = 22939
    num4 = 11018
    num5 = 19975

    # Do math calculation to get the answer
    answer = num1 + num2 + num3 + num4 + num5

    return answer

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Dollars in Millions, Except Per Share Amounts) Long-term debt maturing over the next five years and thereafter is as follows:

Other On March 7, 2003, Standard & Poor's Ratings Services downgraded the Company's senior secured credit rating to BB+ with negative outlook from BBB-.

On May 14, 2003, Fitch Ratings downgraded the Company's senior unsecured credit rating to BB+ with negative outlook from BBB-.

On May 9, 2003, Moody's Investor Services, Inc.  ("Moody's") placed the Company's senior unsecured and subordinated credit ratings on review for possible downgrade from Baa3 and Ba1, respectively.

As of March 12, 2004, the Company's credit ratings continued to be on review for a possible downgrade.

Since July 2001, the Company has not repurchased its common stock in the open market.

In October 2003, the Company received a federal tax refund of approximately $90 as a result of its carryback of its 2002 loss for US federal income tax purposes and certain capital losses, to earlier periods.

Through December 2002, the Company had paid cash dividends quarterly with the most recent quarterly dividend paid in December 2002 at a rate of $0.095 per share.

On a quarterly basis, the Company's Board of Directors makes determinations regarding the payment of dividends.

As previously discussed, the Company's ability to declare or pay dividends is currently restricted by the terms of its Revolving Credit Facilities.

The Company did not declare or pay any dividends in 2003.

However, in 2004, the Company expects to pay any dividends accruing on the Series A Mandatory Convertible Preferred Stock in cash, which is expressly permitted by the Revolving Credit Facilities.

See Note 14 for discussion of fair market value of the Company's long-term debt.

Note 9: Equity Offering On December 16, 2003, the Company sold 25.8 million shares of common stock and issued 7.5 million shares of 3- year Series A Mandatory Convertible Preferred Stock (the "Preferred Stock").

The total net proceeds received from the concurrent offerings was approximately $693.

The Preferred Stock carries a dividend yield of 5.375%.

On maturity, each share of the Preferred Stock will convert, subject to adjustment, to between 3.0358 and 3.7037 shares of common stock, depending on the then-current market price of the Company's common stock, representing a conversion premium of approximately 22% over the stock offering price of $13.50 per share.

Under certain circumstances, the Preferred Stock may be converted prior to maturity at the option of the holders or the Company.

The common and preferred stock were issued under the Company's existing shelf registration statement.

In January 2004, the Company used approximately $246 of the net proceeds from the offerings to redeem the 1.80% Convertible Subordinated Notes due 2004.

The remaining proceeds will be used for general corporate purposes and to further strengthen the Company's balance sheet and financial condition.

The Company will pay annual dividends on each share of the Series A Mandatory Convertible Preferred Stock in the amount of $2.6875.

Dividends will be cumulative from the date of issuance and will be payable on each payment date to the extent that dividends are not restricted under the Company's credit facilities and assets are legally available to pay dividends.

The first dividend payment, which was declared on February 24, 2004, will be made on March 15, 2004.

financial statements and includes all adjustments (consisting only of normal recurring adjustments) necessary for a fair statement of the unaudited quarterly data.

This information should be read in conjunction with our Consolidated Financial Statements and related Notes included in this Annual Report on Form 10-K.

The results of operations for any quarter are not necessarily indicative of results that we may achieve for any subsequent periods.

(2) Of these amounts, $804, $873, $788, $738, $783, $933, $1,049 and $1,052, respectively, were from related parties.

(3) Of these amounts, $429, $437, $378, $273, $302, $378, $363 and $486, respectively, were from related parties.

(4) Of these amounts, $15, $7, $3, $8, $9, $10, $9 and $7, respectively, were from related parties.

(5) Of these amounts, $53, $73, $81, $69, $61, $64, $60 and $58, respectively, were from related parties.

(6) Of these amounts, $267, $209, $310, $379, $90, $58, $36 and $30, respectively, were from related parties.

(7) Of these amounts, $43, $45, $45, $38, $42, $38, $37 and $35, respectively, were from related parties.

Table of Contents Index to Financial Statements counterparty does not fulfill its obligation to complete a transaction.

Pursuant to the terms of the securities clearing agreements between us and the independent clearing broker, the clearing broker has the right to charge us for losses resulting from a counterparty’s failure to fulfill its contractual obligations.

The losses are not capped at a maximum amount and apply to all trades executed through the clearing broker.

At December 31, 2011, we had not recorded any liabilities with regard to this right.

In the ordinary course of business, we enter into contracts that contain a variety of representations, warranties and general indemnifications.

Our maximum exposure from any claims under these arrangements is unknown, as this would involve claims that have not yet occurred.

However, based on past experience, we expect the risk of loss to be remote.

In October 2011, our Board of Directors authorized a share repurchase program for up to $35.0 million of our common stock.

As of December 31, 2011, a total of 237,998 shares were repurchased at an aggregate cost of $6.9 million.

Shares repurchased under the program will be held in treasury for future use.

Through February 16, 2012, a total of 820,894 shares have been repurchased at an aggregate cost of $25.2 million.

In January 2012, the Company’s Board of Directors approved a quarterly cash dividend of $0.11 per share payable on March 1, 2012 to stockholders of record as of the close of business on February 16, 2012.

Any future declaration and payment of dividends will be at the sole discretion of the Company’s Board of Directors.

The Board of Directors may take into account such matters as general business conditions, the Company’s financial results, capital requirements, contractual, legal, and regulatory restrictions on the payment of dividends to the Company’s stockholders or by the Company’s subsidiaries to the parent and any such other factors as the Board of Directors may deem relevant.

Effects of Inflation Because the majority of our assets are liquid in nature, they are not significantly affected by inflation.

However, the rate of inflation may affect our expenses, such as employee compensation, office leasing costs and communications expenses, which may not be readily recoverable in the prices of our services.

To the extent inflation results in rising interest rates and has other adverse effects on the securities markets, it may adversely affect our financial position and results of operations.

Contractual Obligations and Commitments As of December 31, 2011, we had the following contractual obligations and commitments:

We enter into foreign currency forward contracts with a non-controlling stockholder broker-dealer client to hedge the exposure to variability in foreign currency cash flows resulting from the net investment in our U. K.  subsidiary.

As of December 31, 2011, the notional value of the foreign currency forward contract outstanding was $28.7 million and the gross and net fair value asset was $0.2 million.

As of December 31, 2011, we had unrecognized tax benefits of $3.6 million.

Due to the nature of the underlying positions, it is not currently possible to schedule the future payment obligations by period.

In January 2012, our Board of Directors approved a quarterly dividend to be paid to the holders of the outstanding shares of capital stock.

A cash dividend of $0.11 per share of voting and non-voting common stock outstanding will be payable on March 1, 2012 to stockholders of record as of the close of business on February 16, 2012.

We expect the total amount payable to be approximately $4.2 million.

The following table presents our capital spend for 2015, 2016 and 2017 organized by the type of the spending as described above:

||Year Ended December 31,|
|Nature of Capital Spend (in thousands)|2015|2016|2017|
|Real Estate:||
|||Investment|$151,695|
|$133,079|$139,822|Maintenance|52,826|
|63,543|77,660|Total Real Estate Capital Spend|204,521|
|196,622|217,482|Non-Real Estate:||
|||Investment|46,411|
|40,509|56,297|Maintenance|23,372|
|20,642|29,721|Total Non-Real Estate Capital Spend|69,783|
|61,151|86,018|Data Center Investment and Maintenance Capital Spend|20,624|
|72,728|92,597|Innovation and Growth Investment Capital Spend|—|
|8,573|20,583|Total Capital Spend (on accrual basis)|294,928|
|339,074|416,680|Net (decrease) increase in prepaid capital expenditures|-362|
|374|1,629|Net (increase) decrease accrued capital expenditures(1)|-4,317|
|-10,845|-75,178|Total Capital Spend (on cash basis)|$290,249|

(1) The amount at December 31, 2017 includes approximately $66,800 related to a capital lease associated with our data center in Manassas, Virginia.

Competition We are a global leader in the physical storage and information management services industry with operations in 53 countries as of December 31, 2017.

We compete with our current and potential customers' internal storage and information management services capabilities.

We compete with numerous storage and information management services providers in every geographic area where we operate.

The physical storage and information management services industry is highly competitive and includes thousands of competitors in North America and around the world.

We believe that competition for records and information customers is based on price, reputation and reliability, quality and security of storage, quality of service and scope and scale of technology, and we believe we generally compete effectively in these areas.

We also compete with numerous data center developers, owners and operators, many of whom own properties similar to ours in some of the same metropolitan areas where our facilities are located.

We believe that competition for data center customers is based on available power, security considerations, location, connectivity and rental rates, and we believe we generally compete effectively in each of these areas.

Alternative Technologies We derive most of our revenues from rental fees for the storage of physical records and computer backup tapes and from storage related services.

Alternative storage technologies exist, many of which require significantly less space than physical documents and tapes, and as alternative technologies are adopted, storage related services may decline as the physical records or tapes we store become less active and more archived.

While storage of physical documents continues to grow, we continue to provide, primarily through partnerships, additional services such as online backup, designed to address our customers' need for efficient, cost-effective, high-quality solutions for electronic records and storage and information management.

Employees As of December 31, 2017, we employed more than 8,400 employees in the United States and more than 15,600 employees outside of the United States.

At December 31, 2017, approximately 700 employees were represented by unions in North America (in California, Illinois, Georgia, New Jersey and Pennsylvania and three provinces in Canada) and approximately 3,600 employees were represented by unions in Latin America (in Argentina, Brazil and Chile).

We use a measurement date of December 31 for plan assets and benefit obligations.

A reconciliation of the changes in the projected benefit obligation for qualified pension, nonqualified pension and postretirement benefit plans as well as the change in plan assets for the qualified pension plan follows.

Table 96: Reconciliation of Changes in Projected Benefit Obligation and Change in Plan Assets

||Qualified Pension|Nonqualified Pension|Postretirement Benefits|
|December 31 (Measurement Date) – in millions|2015|2014|2015|2014|2015|2014|
|Accumulated benefit obligation at end of year|$4,330|$4,427|$292|$316|||
|Projected benefit obligation at beginning of year|$4,499|$3,966|$322|$292|$379|$375|
|Service cost|107|103|3|3|5|5|
|Interest cost|177|187|11|12|15|16|
|Plan amendments||-7|||||
|Actuarial (gains)/losses and changes in assumptions|-126|504|-10|40|-9|4|
|Participant contributions|||||5|8|
|Federal Medicare subsidy on benefits paid|||||2|2|
|Benefits paid|-260|-254|-28|-25|-28|-31|
|Settlement payments|||||-1||
|Projected benefit obligation at end of year|$4,397|$4,499|$298|$322|$368|$379|
|Fair value of plan assets at beginning of year|$4,357|$4,252|||||
|Actual return on plan assets|19|359|||||
|Employer contribution|200||$28|$25|$222|$21|
|Participant contributions|||||5|8|
|Federal Medicare subsidy on benefits paid|||||2|2|
|Benefits paid|-260|-254|-28|-25|-28|-31|
|Settlement payments|||||-1||
|Fair value of plan assets at end of year|$4,316|$4,357|||$200||
|Funded status|$-81|$-142|$-298|$-322|$-168|$-379|
|Amounts recognized on the consolidated balance sheet|||||||
|Noncurrent asset|||||||
|Current liability|||$-27|$-31|$-2|$-25|
|Noncurrent liability|$-81|$-142|-271|-291|-166|-354|
|Net amount recognized on the consolidated balance sheet|$-81|$-142|$-298|$-322|$-168|$-379|
|Amounts recognized in accumulated other comprehensive income consist of:|||||||
|Prior service cost (credit)|$-13|$-22|$1|$1|$-3|$-4|
|Net actuarial loss|794|673|71|88|22|31|
|Amount recognized in AOCI|$781|$651|$72|$89|$19|$27|

At December 31, 2015, the fair value of the qualified pension plan assets was less than both the accumulated benefit obligation and the projected benefit obligation.

The nonqualified pension plan is unfunded.

Contributions from PNC and, in the case of the postretirement benefit plans, participant contributions cover all benefits paid under the nonqualified pension plan and postretirement benefit plans.

The postretirement plan provides benefits to certain retirees that are at least actuarially equivalent to those provided by Medicare Part D and accordingly, we receive a federal subsidy as shown in Table 96.

In March 2010, the Patient Protection and Affordable Care Act (PPACA) was enacted.

Key aspects of the PPACA which are reflected in our consolidated financial statements include the excise tax on high-cost health plans beginning in 2018 and fees for the Transitional Reinsurance Program and the PatientCentered Outcomes Research Institute.

These provisions did not have a significant effect on our postretirement medical liability or costs.

The Early Retiree Reinsurance Program (ERRP) was established by the PPACA.

Congress appropriated funding of $5.0 billion for this temporary ERRP to provide financial assistance to employers, unions, and state and local governments to help them maintain coverage for early retirees age 55 and older who are not yet eligible for Medicare, including their spouses, surviving spouses, and dependents.

PNC did not receive reimbursement in 2014 related to the 2013 plan year.

The ERRP terminated effective January 1, 2014.

In 2011, we transferred approximately 1.3 million shares of BlackRock Series C Preferred Stock to BlackRock in connection with our obligation.

In 2013, we transferred an additional .2 million shares to BlackRock.

At December 31, 2015, we held approximately 1.3 million shares of BlackRock Series C Preferred Stock which were available to fund our obligation in connection with the BlackRock LTIP programs.

See Note 24 Subsequent Events for information on our February 1, 2016 transfer of 0.5 million shares of the Series C Preferred Stock to BlackRock to satisfy a portion of our LTIP obligation.

PNC accounts for its BlackRock Series C Preferred Stock at fair value, which offsets the impact of marking-to-market the obligation to deliver these shares to BlackRock.

The fair value of the BlackRock Series C Preferred Stock is included on our Consolidated Balance Sheet in the caption Other assets.

Additional information regarding the valuation of the BlackRock Series C Preferred Stock is included in Note 7 Fair Value.

NOTE 14 FINANCIAL DERIVATIVES We use derivative financial instruments (derivatives) primarily to help manage exposure to interest rate, market and credit risk and reduce the effects that changes in interest rates may have on net income, the fair value of assets and liabilities, and cash flows.

We also enter into derivatives with customers to facilitate their risk management activities.

Derivatives represent contracts between parties that usually require little or no initial net investment and result in one party delivering cash or another type of asset to the other party based on a notional amount and an underlying as specified in the contract.

Derivative transactions are often measured in terms of notional amount, but this amount is generally not exchanged and it is not recorded on the balance sheet.

The notional amount is the basis to which the underlying is applied to determine required payments under the derivative contract.

The underlying is a referenced interest rate (commonly LIBOR), security price, credit spread or other index.

Residential and commercial real estate loan commitments associated with loans to be sold also qualify as derivative instruments.

Answer: 85629.0


Question: What will Purchase of minerals in-place reach in 2014 if it continues to grow at its current rate? (in thousand)

def solution():
    # Define variables name and value
    growth_rate_2012_to_2013 = (85 - 15942) / 15942
    constant_1 = 1
    value_2014 = (1 + growth_rate_2012_to_2013)**2 * 85

    return value_2014

APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) The Company recognizes over the requisite service period the fair value cost determined at the grant date based on numerous assumptions, including an estimate of the likelihood that Apache’s stock price will achieve these thresholds and the expected forfeiture rate.

If a price target is not met before the end of the stated achievement period, any unamortized expense must be immediately recognized.

Since the $162 interim price target of the 2008 Share Appreciation Program was not met prior to the stated achievement period, on December 31, 2010, Apache recognized $27 million of unamortized expense and $14 million of unamortized capital costs.

The Company will recognize total expense and capitalized costs for the 2008 Share Appreciation Program of approximately $188 million through 2014.

As of March 2011, the Company had recognized $79 million of total expense and capitalized costs for the 2005 Share Appreciation Program and had no unamortized costs remaining.

A summary of the amounts recognized as expense and capitalized costs for each plan are detailed in the table below:

|| For the Year Ended December 31,|
|| 2011| 2010| 2009|
|| (In millions)|
| 2008 Share Appreciation Program||||
|Compensation expense|$8|$49|$23|
|Compensation expense, net of tax|5|31|15|
|Capitalized costs|5|27|13|
| 2005 Share Appreciation Plan||||
|Compensation expense|$1|$6|$6|
|Compensation expense, net of tax|1|4|4|
|Capitalized costs|1|3|3|

Preferred Stock The Company has 10,000,000 shares of no par preferred stock authorized, of which 25,000 shares have been designated as Series A Junior Participating Preferred Stock (the Series A Preferred Stock) and 1.265 million shares as 6.00-percent Mandatory Convertible Preferred Stock, Series D (the Series D Preferred Stock).

The Company redeemed the 100,000 outstanding shares of its 5.68 percent Series B Cumulative Preferred Stock (the Series B Preferred Stock) on December 30, 2009.

Series A Preferred Stock In December 1995, the Company declared a dividend of one right (a Right) for each 2.31 shares (adjusted for subsequent stock dividends and a two-for-one stock split) of Apache common stock outstanding on January 31, 1996.

Each full Right entitles the registered holder to purchase from the Company one ten-thousandth (1/10,000) of a share of Series A Preferred Stock at a price of $100 per one ten-thousandth of a share, subject to adjustment.

The Rights are exercisable 10 calendar days following a public announcement that certain persons or groups have acquired 20 percent or more of the outstanding shares of Apache common stock or 10 business days following commencement of an offer for 30 percent or more of the outstanding shares of Apache’s outstanding common stock (flip in event); each Right will become exercisable for shares of Apache’s common stock at 50 percent of the then-market price of the common stock.

If a 20-percent shareholder of Apache acquires Apache, by merger or otherwise, in a transaction where Apache does not survive or in which Apache’s common stock is changed or exchanged (flip over event), the Rights become exercisable for shares of the common stock of the Company acquiring Apache at 50 percent of the then-market price for Apache common stock.

Any Rights that are or were beneficially owned by a person who has acquired 20 percent or more of the outstanding shares of Apache common stock and who engages in certain transactions or realizes the benefits of

The Company has paid cash dividends on its common stock for 47 consecutive years through December 31, 2011.

Future dividend payments will depend upon the Company’s level of earnings, financial requirements and other relevant factors.

Apache common stock is listed on the New York and Chicago stock exchanges and the NASDAQ National Market (symbol APA).

At December 31, 2011, the Company’s shares of common stock outstanding were held by approximately 5,600 shareholders of record and 444,000 beneficial owners.

Also listed on the New York Stock Exchange are: ?

Apache Depositary Shares (symbol APA/PD), each representing a 1/20th interest in Apache’s 6% Mandatory Convertible Preferred Stock, Series D ?

Apache Finance Canada’s 7.75% notes, due 2029 (symbol APA/29) Corporate Offices One Post Oak Central 2000 Post Oak Boulevard Suite 100 Houston, Texas 77056-4400 (713) 296-6000 Independent Public Accountants Ernst & Young LLP Five Houston Center 1401 McKinney Street, Suite 1200 Houston, Texas 77010-2007 Stock Transfer Agent and Registrar Wells Fargo Bank, N. A.  Attn: Shareowner Services P. O.

Box 64854 South St.  Paul, Minnesota 55164-0854 (651) 450-4064 or (800) 468-9716 Communications concerning the transfer of shares, lost certificates, dividend checks, duplicate mailings, or change of address should be directed to the stock transfer agent.

Shareholders can access account information on the web site: www.

com Dividend Reinvestment Plan Shareholders of record may invest their dividends automatically in additional shares of Apache common stock at the market price.

Participants may also invest up to an additional $25,000 in Apache shares each quarter through this service.

All bank service fees and brokerage commissions on purchases are paid by Apache.

A prospectus describing the terms of the Plan and an authorization form may be obtained from the Company’s stock transfer agent, Wells Fargo Bank, N. A.

Direct Registration Shareholders of record may hold their shares of Apache common stock in book-entry form.

This eliminates costs related to safekeeping or replacing paper stock certificates.

In addition, shareholders of record may request electronic movement of book-entry shares between your account with the Company’s stock transfer agent and your broker.

Stock certificates may be converted to book-entry shares at any time.

Questions regarding this service may be directed to the Company’s stock transfer agent, Wells Fargo Bank, N. A.

Annual Meeting Apache will hold its annual meeting of shareholders on Thursday, May 24, 2012, at 10:00 a. m.  in the Ballroom, Hilton Houston Post Oak, 2001 Post Oak Boulevard, Houston, Texas.

Apache plans to web cast the annual meeting live; connect through the Apache web site: www.

com Stock Held in “Street Name” The Company maintains a direct mailing list to ensure that shareholders with stock held in brokerage accounts receive information on a timely basis.

Shareholders wanting to be added to this list should direct their requests to Apache’s Public and International Affairs Department, 2000 Post Oak Boulevard, Suite 100, Houston, Texas, 77056-4400, by calling (713) 296-6157 or by registering on Apache’s web site: www.

com Form 10-K Request Shareholders and other persons interested in obtaining, without cost, a copy of the Company’s Form 10-K filed with the Securities and Exchange Commission may do so by writing to Cheri L.  Peper, Corporate Secretary, 2000 Post Oak Boulevard, Suite 100, Houston, Texas, 77056-4400.

Investor Relations Shareholders, brokers, securities analysts, or portfolio managers seeking information about the Company are welcome to contact Patrick Cassidy, Investor Relations Director, at (713) 296-6100.

Members of the news media and others seeking information about the Company should contact Apache’s Public and International Affairs Department at (713) 296-7276.

APACHE CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) There are numerous uncertainties inherent in estimating quantities of proved reserves and projecting future rates of production and timing of development expenditures.

The reserve data in the following tables only represent estimates and should not be construed as being exact.

(1) 2013 includes proved reserves of 45 MMbbls as of December 31, 2013 attributable to a noncontrolling interest in Egypt.

until the hedged transaction is recognized in earnings.

Changes in the fair value of the derivatives that are attributable to the ineffective portion of the hedges, or of derivatives that are not considered to be highly effective hedges, if any, are immediately recognized in earnings.

The aggregate notional amount of our outstanding foreign currency hedges at December 31, 2012 and 2011 was $1.3 billion and $1.7 billion.

The aggregate notional amount of our outstanding interest rate swaps at December 31, 2012 and 2011 was $503 million and $450 million.

Derivative instruments did not have a material impact on net earnings and comprehensive income during 2012, 2011, and 2010.

Substantially all of our derivatives are designated for hedge accounting.

See Note 15 for more information on the fair value measurements related to our derivative instruments.

Stock-based compensation – Compensation cost related to all share-based payments including stock options and restricted stock units is measured at the grant date based on the estimated fair value of the award.

We generally recognize the compensation cost ratably over a three-year vesting period.

Income taxes – We periodically assess our tax filing exposures related to periods that are open to examination.

Based on the latest available information, we evaluate our tax positions to determine whether the position will more likely than not be sustained upon examination by the Internal Revenue Service (IRS).

If we cannot reach a more-likely-than-not determination, no benefit is recorded.

If we determine that the tax position is more likely than not to be sustained, we record the largest amount of benefit that is more likely than not to be realized when the tax position is settled.

We record interest and penalties related to income taxes as a component of income tax expense on our Statements of Earnings.

Interest and penalties are not material.

Accumulated other comprehensive loss – Changes in the balance of accumulated other comprehensive loss, net of income taxes, consisted of the following (in millions):


Question: What is the sum of Net written premiums in the range of 1 and 3000 in 2014? (in million)

def solution():
    # Define variables name and value
    net_written_premiums_1 = 2839
    net_written_premiums_2 = 2817
    net_written_premiums_3 = 880

    # Do math calculation to get the answer
    answer = net_written_premiums_1 + net_written_premiums_2 + net_written_premiums_3

    return answer

Notes to Consolidated Financial Statements Note 11.

Income Taxes – (Continued) The federal income tax return for 2006 is subject to examination by the IRS.

In addition for 2007 and 2008, the IRS has invited the Company to participate in the Compliance Assurance Process (“CAP”), which is a voluntary program for a limited number of large corporations.

Under CAP, the IRS conducts a real-time audit and works contemporaneously with the Company to resolve any issues prior to the filing of the tax return.

The Company believes this approach should reduce tax-related uncertainties, if any.

The Company and/or its subsidiaries also file income tax returns in various state, local and foreign jurisdictions.

These returns, with few exceptions, are no longer subject to examination by the various taxing authorities before 2000.

As discussed in Note 1, the Company adopted the provisions of FIN No.48, “Accounting for Uncertainty in Income Taxes,” on January 1, 2007.

As a result of the implementation of FIN No.48, the Company recognized a decrease to beginning retained earnings on January 1, 2007 of $37 million.

The total amount of unrecognized tax benefits as of the date of adoption was approximately $70 million.

Included in the balance at January 1, 2007, were $51 million of tax positions that if recognized would affect the effective tax rate.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

|Balance, January 1, 2007|$70|
|Additions based on tax positions related to the current year|12|
|Additions for tax positions of prior years|3|
|Reductions for tax positions related to the current year|-23|
|Settlements|-6|
|Expiration of statute of limitations|-3|
|Balance, December 31, 2007|$53|

The Company anticipates that it is reasonably possible that payments of approximately $2 million will be made primarily due to the conclusion of state income tax examinations within the next 12 months.

Additionally, certain state and foreign income tax returns will no longer be subject to examination and as a result, there is a reasonable possibility that the amount of unrecognized tax benefits will decrease by $7 million.

At December 31, 2007, there were $42 million of tax benefits that if recognized would affect the effective rate.

The Company recognizes interest accrued related to: (1) unrecognized tax benefits in Interest expense and (2) tax refund claims in Other revenues on the Consolidated Statements of Income.

The Company recognizes penalties in Income tax expense (benefit) on the Consolidated Statements of Income.

During 2007, the Company recorded charges of approximately $4 million for interest expense and $2 million for penalties.

Provision has been made for the expected U. S.  federal income tax liabilities applicable to undistributed earnings of subsidiaries, except for certain subsidiaries for which the Company intends to invest the undistributed earnings indefinitely, or recover such undistributed earnings tax-free.

At December 31, 2007, the Company has not provided deferred taxes of $126 million, if sold through a taxable sale, on $361 million of undistributed earnings related to a domestic affiliate.

The determination of the amount of the unrecognized deferred tax liability related to the undistributed earnings of foreign subsidiaries is not practicable.

In connection with a non-recurring distribution of $850 million to Diamond Offshore from a foreign subsidiary, a portion of which consisted of earnings of the subsidiary that had not previously been subjected to U. S.  federal income tax, Diamond Offshore recognized $59 million of U. S.  federal income tax expense as a result of the distribution.

It remains Diamond Offshore’s intention to indefinitely reinvest future earnings of the subsidiary to finance foreign activities.

Total income tax expense for the years ended December 31, 2007, 2006 and 2005, was different than the amounts of $1,601 million, $1,557 million and $639 million, computed by applying the statutory U. S.  federal income tax rate of 35% to income before income taxes and minority interest for each of the years.

Management’s Discussion and Analysis of Financial Condition and Results of Operations Results of Operations – CNA Financial – (Continued)

|Year Ended December 31, 2014|Specialty|Commercial|International|Total|
|(In millions, except %)|||||
|Net written premiums|$2,839|$2,817|$880|$6,536|
|Net earned premiums|2,838|2,906|913|6,657|
|Net investment income|560|723|61|1,344|
|Net operating income|569|276|63|908|
|Net realized investment gains (losses)|9|9|-1|17|
|Net income|578|285|62|925|
|Other performance metrics:|||||
|Loss and loss adjustment expense ratio|57.3%|75.3%|53.5%|64.6%|
|Expense ratio|30.1|33.7|38.9|32.9|
|Dividend ratio|0.2|0.3||0.2|
|Combined ratio|87.6%|109.3%|92.4%|97.7%|
|Rate|3%|5%|-1%|3%|
|Retention|87%|73%|74%|78%|
|New Business (a)|$309|$491|$115|$915|

(a) Includes Hardy new business of $133 million for the year ended December 31, 2016.

Prior years amounts are not included for Hardy.2016 Compared with 2015 Net written premiums increased $21 million in 2016 as compared with 2015.

Net written premiums for Commercial increased $23 million in 2016 as compared with 2015, driven by strong retention in middle markets, partially offset by a decrease in small business, which included a premium rate adjustment, as discussed in Note 18 of the Notes to Consolidated Financial Statements under Item 8.

Net written premiums for Specialty in 2016 were consistent with 2015 as growth in warranty was offset by a decrease in management and professional liability and health care due to underwriting actions undertaken in certain business lines.

Net written premiums for International in 2016 were consistent with 2015 and include favorable period over period premium development of $24 million.

Excluding the effect of foreign currency exchange rates and premium development, net written premiums increased 1.4% in 2016 in International.

The increase in net earned premiums was consistent with the trend in net written premiums in Commercial.

Excluding the effect of foreign currency exchange rates and premium development, the increase in net earned premiums was consistent with the trend in net written premiums in International.

Net operating income increased $15 million in 2016 as compared with 2015.

The increase in net operating income was primarily due to higher favorable net prior year reserve development and net investment income, partially offset by an increase in the current accident year loss ratio and higher underwriting expenses.

Catastrophe losses were $100 million (after tax and noncontrolling interests) in 2016 as compared to catastrophe losses of $85 million (after tax and noncontrolling interests) in 2015.

Favorable net prior year development of $316 million and $218 million was recorded in 2016 and 2015.

Specialty recorded favorable net prior year development of $305 million and $152 million in 2016 and 2015, Commercial recorded unfavorable net prior year development of $53 million in 2016 as compared with favorable net prior year development of $30 million in 2015 and International recorded favorable net prior year development of $64 million and $36 million in 2016 and 2015.

Further information on net prior year development is included in Note 8 of the Notes to Consolidated Financial Statements included under Item 8.

Specialty’s combined ratio decreased 3.7 points in 2016 as compared with 2015.

The loss ratio decreased 4.6 points due to higher favorable net prior year reserve development, partially offset by a higher current accident year loss ratio.

Specialty’s expense ratio increased 0.9 points in 2016 as compared with 2015 due to higher employee costs and higher information technology (“IT”) spending primarily related to new underwriting platforms.

Management’s Discussion and Analysis of Financial Condition and Results of Operations Results of Operations – Boardwalk Pipeline – (Continued) Results of Operations The following table summarizes the results of operations for Boardwalk Pipeline for the years ended December 31, 2016, 2015 and 2014 as presented in Note 20 of the Notes to Consolidated Financial Statements included under Item 8:

| Year Ended December 31|2016|2015|2014|
| (In millions)||||
|Revenues:||||
|Other revenue, primarily operating|$ 1,316|$ 1,253|$ 1,235|
|Net investment income||1|1|
|Total|1,316|1,254|1,236|
|Expenses:||||
|Operating|835|851|931|
|Interest|183|176|165|
|Total|1,018|1,027|1,096|
|Income before income tax|298|227|140|
|Income tax expense|-61|-46|-11|
|Amounts attributable to noncontrolling interests|-148|-107|-111|
|Net income attributable to Loews Corporation|$ 89|$ 74|$ 18|

2016 Compared with 2015 Total revenues increased $62 million in 2016 as compared with 2015.

Excluding the net effect of $13 million of proceeds received from the settlement of a legal matter in 2016, $9 million of proceeds received from a business interruption claim in 2015 and items offset in fuel and transportation expense, primarily retained fuel, operating revenues increased $83 million.

The increase was driven by an increase in transportation revenues of $71 million, which resulted primarily from growth projects recently placed into service, incremental revenues from the Gulf South rate case of $18 million and a full year of revenues from the Evangeline pipeline.

Storage and PAL revenues were higher by $17 million primarily from the effects of favorable market conditions on time period price spreads.

Operating expenses decreased $16 million in 2016 as compared with 2015.

Excluding receipt of a franchise tax refund of $10 million in 2015 and items offset in operating revenues, operating costs and expenses increased $5 million primarily due to higher employee related costs, partially offset by decreases in maintenance activities and depreciation expense.

Interest expense increased $7 million primarily due to higher average interest rates compared to 2015.

Net income increased $15 million in 2016 as compared with 2015, primarily reflecting higher revenues and lower operating expenses, partially offset by higher interest expense as discussed above.2015 Compared with 2014 Total revenues increased $18 million in 2015 as compared with 2014.

Excluding the business interruption claim proceeds of $8 million and items offset in fuel and transportation expense, primarily retained fuel, operating revenues increased $33 million.

This increase is primarily due to higher transportation revenues of $39 million from growth projects recently placed into service, including the Evangeline pipeline which was acquired in October of 2014 and $20 million of additional revenues resulting from the Gulf South rate case, partially offset by the effects of comparably warm weather experienced in the early part of the 2015 period in Boardwalk Pipeline’s market areas and unfavorable market conditions.

Storage and PAL revenues decreased $20 million primarily as a result of the effects of unfavorable market conditions on time period price spreads.

Operating expenses decreased $80 million in 2015 as compared with 2014.

This decrease is primarily due to a $94 million prior year charge to write off all capitalized costs associated with the terminated Bluegrass project, a $10 million franchise tax refund related to settlement of prior tax periods and a decrease in fuel and transportation expense due to lower natural gas prices.

These decreases were partially offset by higher depreciation expense of $35

Answer: 6536.0