defined by fin 46 ( r ) , as a result of the issuance of subordinated notes by the conduits to third-party investors , and we do not record these conduits in our consolidated financial statements .
at december 31 , 2006 and 2005 , total assets in unconsolidated conduits were $ 25.25 billion and $ 17.90 billion , respectively .
our off-balance sheet commitments to these conduits are disclosed in note 10 .
collateralized debt obligations : we manage a series of collateralized debt obligations , or 201ccdos . 201d a cdo is a managed investment vehicle which purchases a portfolio of diversified highly-rated assets .
a cdo funds purchases through the issuance of several tranches of debt and equity , the repayment and return of which are linked to the performance of the assets in the cdo .
typically , our involvement is as collateral manager .
we may also invest in a small percentage of the debt issued .
these entities typically meet the definition of a variable interest entity as defined by fin 46 ( r ) .
we are not the primary beneficiary of these cdos , as defined by fin 46 ( r ) , and do not record these cdos in our consolidated financial statements .
at december 31 , 2006 and 2005 , total assets in these cdos were $ 3.48 billion and $ 2.73 billion , respectively .
during 2005 , we acquired and transferred $ 60 million of investment securities from our available-for- sale portfolio into a cdo .
this transfer , which was executed at fair market value in exchange for cash , was treated as a sale .
we did not acquire or transfer any investment securities to a cdo during 2006 .
note 12 .
shareholders 2019 equity treasury stock : during the first quarter of 2006 , we purchased 3 million shares of our common stock under a program authorized by our board of directors , or 201cboard , 201d in 2005 .
on march 16 , 2006 , the board authorized a new program for the purchase of up to 15 million shares of our common stock for general corporate purposes , including mitigating the dilutive impact of shares issued under employee benefit programs , and terminated the 2005 program .
under this new program , we purchased 2.8 million shares of our common stock during 2006 , and as of december 31 , 2006 , 12.2 million shares were available for purchase .
we utilize third-party broker-dealers to acquire common shares on the open market in the execution of our stock purchase program .
in addition , shares may be acquired for other deferred compensation plans , held by an external trustee , that are not part of the common stock purchase program .
as of december 31 , 2006 , on a cumulative basis , approximately 395000 shares have been purchased and are held in trust .
these shares are recorded as treasury stock in our consolidated statement of condition .
during 2006 , 2005 and 2004 , we purchased and recorded as treasury stock a total of 5.8 million shares , 13.1 million shares and 4.1 million shares , respectively , at an average historical cost per share of $ 63 , $ 51 and $ 43 , respectively .
accumulated other comprehensive ( loss ) income: .

( in millions )
2006
2005
2004
foreign currency translation
$ 197
$ 73
$ 213
unrealized gain ( loss ) on hedges of net investments in non-u.s . subsidiaries
-7 ( 7 )
11
-26 ( 26 )
unrealized loss on available-for-sale securities
-227 ( 227 )
-285 ( 285 )
-56 ( 56 )
minimum pension liability
-186 ( 186 )
-26 ( 26 )
-26 ( 26 )
unrealized loss on cash flow hedges
-1 ( 1 )
-4 ( 4 )
-13 ( 13 )
total
$ -224 ( 224 )
$ -231 ( 231 )
$ 92

for the year ended december 31 , 2006 , we realized net gains of $ 15 million on sales of available-for- sale securities .
unrealized losses of $ 7 million were included in other comprehensive income at december 31 , 2005 , net of deferred taxes of $ 4 million , related to these sales .
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Question: in 2006 , what percent of unrealized loss did foreign currency translation offset?
Answer: 86.78%
Calculation: divide(197, 227)