Stock Performance Graph The following graph compares our cumulative shareholder returns with the Standard & Poor’s Information Technology Index and the Standard & Poor’s 500 Index for the five years ended May 31, 2016.
The line graph assumes the investment of $100 in our common stock, the Standard & Poor’s Information Technology Index and the Standard & Poor’s 500 Index on May 31, 2011 and assumes reinvestment of all dividends.
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* Among Global Payments Inc. , the S&P 500 Index and the S&P Information Technology Index
## Table 0 ##
* $100 invested on May 31, 2011 in stock or index, including reinvestment of dividends.
Fiscal year ending May 31.
Copyright?2016 S&P, a division of The McGraw-Hill Companies Inc.  All rights reserved.
Issuer Purchases of Equity Securities As announced on July 28, 2015, our Board of Directors authorized the additional repurchase of up to $300.0 million of our common stock.
Under these and other existing authorizations, we repurchased and retired 2.2 million shares of our common stock at a cost of $135.9 million including commissions, or an average price of $63.17 per share, during the year ended May 31, 2016.
The following table presents the amortized cost and valuation allowances for consumer loans held-for-investment distributed by loan classification at:
## Table 1 ##
(1) Amortized cost is equal to carrying value before valuation allowances.
The following table presents the changes in valuation allowances for consumer loans held-for-investment for the:
## Table 2 ##
Real Estate Holdings The Company’s real estate holdings consist of commercial properties located primarily in the United States.
At December 31, 2008 and 2007, the carrying value of the Company’s real estate, real estate joint ventures and real estate held-for-sale was $7.6 billion and $6.8 billion, respectively, or 2.4% and 2.1%, respectively, of total cash and invested assets.
The carrying value of real estate is stated at depreciated cost net of impairments and valuation allowances.
The carrying value of real estate joint ventures is stated at the Company’s equity in the real estate joint ventures net of impairments and valuation allowances.
The following table presents the carrying value of the Company’s real estate holdings at:
## Table 3 ##
The Company diversifies its real estate holdings by both geographic region and property type to reduce risk of concentration.
The Company’s real estate holdings are primarily located in the United States.
At December 31, 2008, 22%, 13%, 11% and 8% of the Company’s real estate holdings were located in California, Florida, New York and Texas, respectively.
Property type diversification is shown in the table below.
Real estate holdings were categorized as follows:
## Table 4 ##
most commonly 1-month or 3-month LIBOR.
MetLife is exposed to interest rate risks, and foreign exchange risk when guaranteeing payment of interest and return of principal at the contractual maturity date.
The Company may invest in floating rate assets, or enter into floating rate swaps, also tied to external indices, as well as caps to mitigate the impact of changes in market interest rates.
The Company also mitigates its risks by implementing an asset/liability matching policy and seeks to hedge all foreign currency risk through the use of foreign currency hedges, including cross currency swaps.
Variable & Universal Life.
Policyholder account balances are held for general account universal life policies, and the fixed account of variable life insurance policies.
Policyholder account balances are credited interest at a rate set by the Company, and are influenced by current market rates.
These contracts generally have a guaranteed minimum credited rate.
The majority of the policyholder account balances have a minimum credited rate between 3% and 5%.
Annuities.
Policyholder account balances are held for fixed deferred annuities and the fixed account portion of variable annuities, for certain income annuities, and for certain portions of guaranteed benefits.
Policyholder account balances are credited interest at a rate set by the Company, which are influenced by current market rates, and generally have a guaranteed minimum credited rate between 1.5% and 4.0%.
See “— Variable Annuity Guarantees.
” International.
Policyholder account balances are held largely for fixed income retirement and savings plans in Latin America and to a lesser degree, amounts for separate account type funds in certain countries in the Latin America, Europe, and Asia Pacific regions that do not meet the US GAAP definition of separate accounts.
Also included are certain liabilities for retirement and savings products sold in certain countries in the Asia Pacific region that generally are sold with minimum credited rate guarantees.
Liabilities for guarantees on certain variable annuities in the Asia Pacific region are established in accordance with SFAS 133 and are also included within policyholder account balances.
These liabilities are generally impacted by sustained periods of low interest rates, where there are interest rate guarantees.
The Company mitigates its risks by implementing an asset/liability matching policy and by hedging its variable annuity guarantees.
See “— Variable Annuity Guarantees.
” Variable Annuity Guarantees The Company issues certain variable annuity products with guaranteed minimum benefit that provide the policyholder a minimum return based on their initial deposit (i. e. , the benefit base) less withdrawals.
In some cases the benefit base may be increased by additional deposits, bonus amounts, accruals or market value resets.
These Guarantees are accounted for under SOP 03-1 or as embedded derivatives under SFAS 133 depending on how and when the benefit is paid.
Specifically, a guarantee is accounted for under SFAS 133 if a guarantee is paid without requiring (i) the occurrence of specific insurable event or (ii) the policyholder to annuitize.
Alternatively, a guarantee is accounted for under SOP 03-1 if a guarantee is paid only upon either (i) the occurrence of a specific insurable event or (ii) upon annuitization.
In certain cases, a guarantee may have elements of both SFAS 133 and SOP 03-1 and in such cases the guarantee is accounted for under a split of the two models.
The net amount at risk (“NAR”) for guarantees can change significantly during periods of sizable and sustained shifts in equity market performance, increased equity volatility, or changes in interest rates.
The NAR disclosed in Note 7 of the Notes to the Consolidated Financial Statements, represents management’s estimate of the current value of the benefits under these guarantees if they were all exercised simultaneously as of December 31, 2008 and 2007, respectively.
However, there are features, such as deferral periods and benefits requiring annuitization or death, that limit the amount of benefits that will be payable in the near future.
None of the GMIB guarantees are eligible for a guaranteed annuitization prior to 2011.
Guarantees, including portions thereof, accounted for as embedded derivatives under SFAS 133, are recorded at estimated fair value and included in policyholder account balances.
Guarantees accounted for as embedded derivatives include GMAB, the non life-contingent portion of GMWB and the portion of certain GMIB that do not require annuitization.
For more detail on the determination of estimated fair value, see Note 24 of the Notes to the Consolidated Financial Statements.
The table below contains the carrying value for guarantees included in policyholder account balances:
## Table 5 ##
Included in net investment gains (losses) for the year ended December 31, 2008 were losses of $2,677 million in embedded derivatives related to the change in estimated fair value of the above guarantees.
Effective January 1, 2008, the carrying amount of guarantees accounted for at estimated fair value includes an adjustment for the Company’s own credit.
In connection with this adjustment, gains of $2,994 million are included in the loss of $2,677 million in net investment gains (losses).
The estimated fair value of guarantees accounted for as embedded derivatives can change significantly during periods of sizable and sustained shifts in equity market performance, equity volatility, interest rates or foreign exchange rates.
Additionally, because the estimated fair value for guarantees accounted for at estimated fair value includes an adjustment for the Company’s own credit, a decrease in the Company’s credit spreads could cause the value of these liabilities to increase.
Conversely, a widening of the Company’s credit spreads
MetLife, Inc.  Notes to the Consolidated Financial Statements — (Continued) Company eliminated certain assets and liabilities held in connection with the pension business.
Deferred acquisition costs deferred tax assets, and liabilities — primarily the liability for future servicing obligation referred to above — were eliminated and the Company incurred severance costs associated with the termination of employees.
The impact of the elimination of assets and liabilities and the incurral of severance costs was an increase to net income of $6 million, net of income tax, during the year ended December 31, 2008.
In September 2008, the Argentine Supreme Court ruled against the validity of the 2002 Pesification Law enacted by the Argentine government.
This ruling applied to certain social security pension annuity contractholders that had filed a lawsuit against the 2002 Pesification Law.
The annuity contracts impacted by this ruling, which were deemed peso denominated under the 2002 Pesification Law, are now considered to be U. S.  dollar denominated obligations of the Company.
Contingent liabilities that were established at acquisition in 2005 in connection with the outstanding lawsuits have been adjusted and refined to be consistent with the ruling.
The impact of the refinements resulting from the change in these contingent liabilities and the associated future policyholder benefits was an increase to net income of $34 million, net of income tax, during the year ended December 31, 2008.
As part of Nationalization, the Company may receive compensation from the Argentine government for the loss of the pension business in the form of government bonds.
The amount of any such compensation, as well as the terms and value of the government bonds to be received, cannot be determined at this time.
The compensation will only be reflected in the consolidated financial statements of the Company if and when the fair value of the compensation is received.
Further governmental or legal actions are possible in Argentina.
Such actions may impact the level of existing liabilities or may create additional obligations or benefits to the Company’s operations in Argentina.
Management has made its best estimate of its obligations based upon information currently available; however, further governmental or legal actions could result in changes in obligations which could materially impact the amounts presented within the consolidated financial statements.
Commitments Leases In accordance with industry practice, certain of the Company’s income from lease agreements with retail tenants are contingent upon the level of the tenants’ sales revenues.
Additionally, the Company, as lessee, has entered into various lease and sublease agreements for office space, data processing and other equipment.
Future minimum rental and sublease income, and minimum gross rental payments relating to these lease agreements are as follows:
## Table 6 ##
During the fourth quarter of 2008, the Company moved certain of its operations in New York from Long Island City to New York City.
As a result of this movement of operations and current market conditions, which precluded the Company’s immediate and complete sublet of all unused space in both Long Island City and New York City, the Company incurred a lease impairment charge of $38 million which is included within other expenses in Corporate & Other.
The impairment charge was determined based upon the present value of the gross rental payments less sublease income discounted at a risk-adjusted rate over the remaining lease terms which range from 15-20 years.
The Company has made assumptions with respect to the timing and amount of future sublease income in the determination of this impairment charge.
Additional impairment charges could be incurred should market conditions deteriorate further or last for a period significantly longer than anticipated.
Commitments to Fund Partnership Investments The Company makes commitments to fund partnership investments in the normal course of business.
The amounts of these unfunded commitments were $4.5 billion and $4.2 billion at December 31, 2008 and 2007, respectively.
The Company anticipates that these amounts will be invested in partnerships over the next five years.
Mortgage Loan Commitments The Company has issued interest rate lock commitments on certain residential mortgage loan applications totaling $8.0 billion at December 31, 2008.
The Company intends to sell the majority of these originated residential mortgage loans.
Interest rate lock commitments to fund mortgage loans that will be held-forsale are considered derivatives pursuant to SFAS 133, and their estimated fair value and notional amounts are included within financial forwards in Note 4.
The Company also commits to lend funds under certain other mortgage loan commitments that will be held-for-investment.
The amounts of these mortgage loan commitments were $2.7 billion and $4.0 billion at December 31, 2008 and 2007, respectively.
Commitments to Fund Bank Credit Facilities, Bridge Loans and Private Corporate Bond Investments The Company commits to lend funds under bank credit facilities, bridge loans and private corporate bond investments.
The amounts of these unfunded commitments were $1.0 billion and $1.2 billion at December 31, 2008 and 2007, respectively.
Guarantees In the normal course of its business, the Company has provided certain indemnities, guarantees and commitments to third parties pursuant to which it may be required to make payments now or in the future.
In the context of acquisition, disposition, investment and other
and initiatives, partially offset by the elimination of certain intercompany expenses previously charged to the International segment, and a tax benefit associated with a 2006 income tax expense related to a revision of an estimate.  ?
India’s income from continuing operations decreased primarily due to headcount increases and growth initiatives, as well as the impact of valuation allowances established against losses in both years.  ?
South Korea’s income from continuing operations decreased due to a favorable impact in 2006 associated with the implementation of a more refined reserve valuation system, as well as additional expenses in 2007 associated with growth and infrastructure initiatives, partially offset by continued growth and lower DAC amortization, both in the variable universal life business.
The Auto & Home segment’s income from continuing operations increased primarily due to an increase in premiums and other revenues, an increase in net investment income, an increase in net investment gains and a decrease in other expenses.
These were partially offset by losses related to higher claim frequencies, higher earned exposures, higher losses due to severity, an increase in unallocated claims adjusting expenses and an increase from a reduction in favorable development of 2006 losses, partially offset by a decrease in catastrophe losses, which included favorable development of 2006 catastrophe liabilities, all of which are related to policyholder benefits and claims.
Corporate & Other’s income from continuing operations increased primarily due to higher net investment income, lower net investment losses, lower corporate expenses, higher other revenues, integration costs incurred in 2006, and lower legal costs, partially offset by a decrease in tax benefits, higher interest expense on debt, higher interest on uncertain tax positions, and higher interest credited to bankholder deposits.
Revenues and Expenses Premiums, Fees and Other Revenues Premiums, fees and other revenues increased by $1,609 million, or 6%, to $29,673 million for the year ended December 31, 2007 from $28,064 million for the comparable 2006 period.
The following table provides the 2007 change in premiums, fees and other revenues by segment:

<table><tr><td></td><td>GlobalPayments</td><td>S&P500</td><td>S&PInformationTechnology</td></tr><tr><td>May 31, 2011</td><td>$100.00</td><td>$100.00</td><td>$100.00</td></tr><tr><td>May 31, 2012</td><td>81.90</td><td>99.59</td><td>107.57</td></tr><tr><td>May 31, 2013</td><td>92.63</td><td>126.75</td><td>123.83</td></tr><tr><td>May 31, 2014</td><td>132.59</td><td>152.67</td><td>153.42</td></tr><tr><td>May 31, 2015</td><td>202.06</td><td>170.69</td><td>182.29</td></tr><tr><td>May 31, 2016</td><td>300.97</td><td>173.62</td><td>187.97</td></tr></table>
<table><tr><td></td><td colspan="4"> December 31, 2008</td><td colspan="4"> December 31, 2007</td></tr><tr><td></td><td> Amortized   Cost -1</td><td>% of Total</td><td> Valuation   Allowance</td><td> % of   Amortized   Cost</td><td> Amortized   Cost -1</td><td>% of Total</td><td> Valuation   Allowance</td><td> % of   Amortized   Cost</td></tr><tr><td></td><td></td><td></td><td></td><td colspan="2"> (In millions)</td><td></td><td></td><td></td></tr><tr><td>Performing</td><td>$1,116</td><td>95.8%</td><td>$11</td><td>1.0%</td><td>$1,001</td><td>95.7%</td><td>$5</td><td>0.5%</td></tr><tr><td>Restructured</td><td>—</td><td>—</td><td>—</td><td>—%</td><td>—</td><td>—</td><td>—</td><td>—%</td></tr><tr><td>Potentially delinquent</td><td>17</td><td>1.5</td><td>—</td><td>—%</td><td>19</td><td>1.8</td><td>—</td><td>—%</td></tr><tr><td>Delinquent or under foreclosure</td><td>31</td><td>2.7</td><td>—</td><td>—%</td><td>26</td><td>2.5</td><td>1</td><td>4.0%</td></tr><tr><td>Total</td><td>$1,164</td><td>100.0%</td><td>$11</td><td>0.9%</td><td>$1,046</td><td>100.0%</td><td>$6</td><td>0.6%</td></tr></table>
<table><tr><td></td><td colspan="3">Years Ended December 31,</td></tr><tr><td></td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td></td><td colspan="3">(In millions)</td></tr><tr><td>Balance, beginning of period</td><td>$6</td><td>$11</td><td>$14</td></tr><tr><td>Additions</td><td>6</td><td>—</td><td>1</td></tr><tr><td>Deductions</td><td>-1</td><td>-5</td><td>-4</td></tr><tr><td>Balance, end of period</td><td>$11</td><td>$6</td><td>$11</td></tr></table>
<table><tr><td></td><td colspan="4"> December 31,</td></tr><tr><td></td><td colspan="2">2008</td><td colspan="2"> 2007</td></tr><tr><td></td><td> Carrying </td><td>% of</td><td> Carrying </td><td> % of </td></tr><tr><td> Type</td><td> Value</td><td>Total</td><td> Value</td><td> Total</td></tr><tr><td></td><td></td><td colspan="2"> (In millions)</td><td></td></tr><tr><td>Real estate</td><td>$4,061</td><td>53.5%</td><td>$3,954</td><td>58.4%</td></tr><tr><td>Real estate joint ventures</td><td>3,522</td><td>46.5</td><td>2,771</td><td>41.0</td></tr><tr><td>Foreclosed real estate</td><td>2</td><td>—</td><td>3</td><td>—</td></tr><tr><td></td><td>7,585</td><td>100.0</td><td>6,728</td><td>99.4</td></tr><tr><td>Real estate held-for-sale</td><td>1</td><td>—</td><td>39</td><td>0.6</td></tr><tr><td>Total real estate holdings</td><td>$7,586</td><td>100.0%</td><td>$6,767</td><td>100.0%</td></tr></table>
<table><tr><td></td><td colspan="4"> December 31,</td></tr><tr><td></td><td colspan="2">2008</td><td colspan="2"> 2007</td></tr><tr><td></td><td> Amount</td><td>Percent</td><td> Amount</td><td> Percent</td></tr><tr><td></td><td colspan="4"> (In millions)</td></tr><tr><td>Office</td><td>$3,489</td><td>46%</td><td>$3,480</td><td>51%</td></tr><tr><td>Apartments</td><td>1,602</td><td>21</td><td>1,148</td><td>17</td></tr><tr><td>Real estate investment funds</td><td>1,080</td><td>14</td><td>950</td><td>14</td></tr><tr><td>Industrial</td><td>483</td><td>7</td><td>443</td><td>7</td></tr><tr><td>Retail</td><td>472</td><td>6</td><td>455</td><td>7</td></tr><tr><td>Hotel</td><td>180</td><td>3</td><td>60</td><td>1</td></tr><tr><td>Land</td><td>155</td><td>2</td><td>125</td><td>2</td></tr><tr><td>Agriculture</td><td>24</td><td>—</td><td>29</td><td>—</td></tr><tr><td>Other</td><td>101</td><td>1</td><td>77</td><td>1</td></tr><tr><td>Total real estate holdings</td><td>$7,586</td><td>100%</td><td>$6,767</td><td>100%</td></tr></table>
<table><tr><td></td><td colspan="2"> December 31,</td></tr><tr><td></td><td> 2008</td><td> 2007</td></tr><tr><td></td><td colspan="2"> (In millions)</td></tr><tr><td> Individual:</td><td></td><td></td></tr><tr><td>Guaranteed minimum accumulation benefit</td><td>$169</td><td>$29</td></tr><tr><td>Guaranteed minimum withdrawal benefit</td><td>750</td><td>80</td></tr><tr><td>Guaranteed minimum income benefit</td><td>1,043</td><td>78</td></tr><tr><td> International:</td><td></td><td></td></tr><tr><td>Guaranteed minimum accumulation benefit</td><td>271</td><td>7</td></tr><tr><td>Guaranteed minimum withdrawal benefit</td><td>901</td><td>90</td></tr><tr><td>Total</td><td>$3,134</td><td>$284</td></tr></table>
<table><tr><td></td><td> Rental   Income</td><td> Sublease   Income</td><td> Gross   Rental   Payments</td></tr><tr><td></td><td colspan="3"> (In millions)</td></tr><tr><td>2009</td><td>$431</td><td>$15</td><td>$278</td></tr><tr><td>2010</td><td>$391</td><td>$11</td><td>$247</td></tr><tr><td>2011</td><td>$314</td><td>$11</td><td>$213</td></tr><tr><td>2012</td><td>$246</td><td>$11</td><td>$171</td></tr><tr><td>2013</td><td>$206</td><td>$11</td><td>$152</td></tr><tr><td>Thereafter</td><td>$724</td><td>$34</td><td>$1,080</td></tr></table>

Question: What is the sum of the Industrial in the years where Retail greater than 400? (in million)