?
level and volatility of interest or capitalization rates or capital market conditions; ?
loss of hedge accounting treatment for interest rate swaps; ?
the continuation of the good credit of our interest rate swap providers; ?
price volatility, dislocations and liquidity disruptions in the financial markets and the resulting impact on financing; ?
the effect of any rating agency actions on the cost and availability of new debt financing; ?
significant decline in market value of real estate serving as collateral for mortgage obligations; ?
significant change in the mortgage financing market that would cause single-family housing, either as an owned or rental product, to become a more significant competitive product; ?
our ability to continue to satisfy complex rules in order to maintain our status as a REIT for federal income tax purposes, the ability of the Operating Partnership to satisfy the rules to maintain its status as a partnership for federal income tax purposes, the ability of our taxable REIT subsidiaries to maintain their status as such for federal income tax purposes, and our ability and the ability of our subsidiaries to operate effectively within the limitations imposed by these rules; ?
inability to attract and retain qualified personnel; ?
cyber liability or potential liability for breaches of our privacy or information security systems; ?
potential liability for environmental contamination; ?
adverse legislative or regulatory tax changes; ?
legal proceedings relating to various issues, which, among other things, could result in a class action lawsuit; ?
compliance costs associated with laws requiring access for disabled persons; and ?
other risks identified in this Annual Report on Form 10-K including under the caption "Item 1A.
Risk Factors" and, from time to time, in other reports we file with the Securities and Exchange Commission, or the SEC, or in other documents that we publicly disseminate.
New factors may also emerge from time to time that could have a material adverse effect on our business.
Except as required by law, we undertake no obligation to publicly update or revise forward-looking statements contained in this Annual Report on Form 10-K to reflect events, circumstances or changes in expectations after the date on which this Annual Report on Form 10-K is filed.
Item 1.  Business.
Overview MAA is a multifamily focused, self-administered and self-managed real estate investment trust, or REIT.
We own, operate, acquire and selectively develop apartment communities located in the Southeast, Southwest and Mid-Atlantic regions of the United States.
As of December 31, 2018, we maintained full or partial ownership of apartment communities and commercial properties across 17 states and the District of Columbia, summarized as follows:
## Table 0 ##
Our business is conducted principally through the Operating Partnership.
MAA is the sole general partner of the Operating Partnership, holding 113,844,267 OP Units, comprising a 96.5% partnership interest in the Operating Partnership as of December 31, 2018.
MAA and MAALP were formed in Tennessee in 1993.
As of December 31, 2018, we had 2,508 fulltime employees and 44 part-time employees.
MetLife, Inc.  Notes to the Consolidated Financial Statements — (Continued) The following table presents the components of accumulated other comprehensive income (loss), before income tax, related to cash flow hedges
## Table 1 ##
At December 31, 2011, $13 million of deferred net gains (losses) on derivatives in accumulated other comprehensive income (loss) was expected to be reclassified to earnings within the next 12 months.
The following table presents the effects of derivatives in cash flow hedging relationships on the consolidated statements of operations and the consolidated statements of equi
## Table 2 ##
All components of each derivative’s gain or loss were included in the assessment of hedge effectiveness.
Hedges of Net Investments in Foreign Operations The Company uses foreign exchange contracts, which may include foreign currency swaps, forwards and options, to hedge portions of its net investments in foreign operations against adverse movements in exchange rates.
The Company measures ineffectiveness on these contracts based upon the change in forward rates.
In addition, the Company may also use non-derivative financial instruments to hedge portions of its net investments in foreign operations against adverse movements in exchange rates.
The Company measures ineffectiveness on non-derivative financial instruments based upon the change in spot rates.
When net investments in foreign operations are sold or substantially liquidated, the amounts in accumulated other comprehensive income (loss) are reclassified
At December 31, 2013, the Company had approximately $35.3 million of U. S.  federal net operating loss carryforwards.
If not utilized, these carryforwards will expire in years 2023 through 2033.
The net operating loss carryforward increased between 2012 and 2013 primarily due to losses incurred by a U. S.  entity that is not a member of the Company’s consolidated tax group and therefore not available for offset against the taxable income of other members of the group.
In a recent acquisition, the consolidated group obtained federal net operating losses subject to an IRC Section 382 limitation; however, the Company expects to utilize the losses in their entirety prior to expiration.
The Company’s state net operating loss carryforwards are primarily related to Florida and New Jersey and will expire in years 2027 through 2030 if not utilized.
The New Jersey net operating loss was acquired as part of a recent acquisition.
The Company has smaller net operating losses in various other states.
Additionally, the Company has a foreign tax credit carryforward and a R&D tax credit carryforward.
As of December 31, 2013, the Company determined that a total valuation allowance of $5.9 million was necessary to reduce U. S.  deferred tax assets by $2.6 million and foreign deferred tax assets by $3.3 million, where it was more likely than not that some portion or all of such deferred tax assets will not be realized.
As of December 31, 2013, based on the Company’s estimates of future taxable income and any applicable tax-planning strategies within various tax jurisdictions, the Company believes that it is more likely than not that the remaining net deferred tax assets will be realized.
The Company recognizes in the consolidated financial statements only those tax positions determined to be “more likely than not” of being sustained upon examination based on the technical merits of the positions.
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):

<table><tr><td>Multifamily</td><td>Communities</td><td>Units</td></tr><tr><td>Consolidated</td><td>303</td><td>100,595</td></tr><tr><td>Unconsolidated</td><td>1</td><td>269</td></tr><tr><td>Total</td><td>304</td><td>100,864</td></tr><tr><td>Commercial</td><td>Properties</td><td>Sq. Ft.<sup>-1</sup></td></tr><tr><td>Consolidated</td><td>4</td><td>260,000</td></tr></table>
<table><tr><td></td><td colspan="3">Years Ended December 31,</td></tr><tr><td></td><td>2011</td><td>2010</td><td>2009</td></tr><tr><td></td><td colspan="3">(In millions)</td></tr><tr><td>Accumulated other comprehensive income (loss), balance at January 1,</td><td>$-59</td><td>$-76</td><td>$82</td></tr><tr><td>Gains (losses) deferred in other comprehensive income (loss) on the effective portion of cash flow hedges</td><td>1,552</td><td>-51</td><td>-221</td></tr><tr><td>Amounts reclassified to net derivative gains (losses)</td><td>9</td><td>65</td><td>54</td></tr><tr><td>Amounts reclassified to net investment income</td><td>3</td><td>4</td><td>8</td></tr><tr><td>Amounts reclassified to other expenses</td><td>9</td><td>-1</td><td>3</td></tr><tr><td>Amortization of transition adjustment</td><td>—</td><td>—</td><td>-2</td></tr><tr><td>Accumulated other comprehensive income (loss), balance at December 31,</td><td>$1,514</td><td>$-59</td><td>$-76</td></tr></table>
<table><tr><td> Derivatives in Cash Flow Hedging Relationships</td><td>Amount of Gains (Losses) Deferred in Accumulated Other Comprehensive Income (Loss) on Derivatives (Effective Portion)</td><td colspan="3">Amount and Location of Gains (Losses) Reclassified from Accumulated OtherComprehensive Income (Loss) into Income (Loss) (Effective Portion)</td><td colspan="2"> Amount and Location of Gains (Losses) Recognized in Income (Loss)  on Derivatives  (Ineffective Portion and  Amount Excludedfrom Effectiveness Testing)</td></tr><tr><td></td><td></td><td>Net Derivative Gains (Losses)</td><td>Net Investment Income</td><td>Other Expenses</td><td>Net Derivative Gains (Losses)</td><td> Net Investment Income</td></tr><tr><td></td><td colspan="6"> (In millions)</td></tr><tr><td> For the Year Ended December 31, 2011:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest rate swaps</td><td>$1,023</td><td>$-42</td><td>$1</td><td>$-10</td><td>$1</td><td>$—</td></tr><tr><td>Foreign currency swaps</td><td>175</td><td>—</td><td>-6</td><td>2</td><td>2</td><td>—</td></tr><tr><td>Interest rate forwards</td><td>336</td><td>31</td><td>1</td><td>-1</td><td>2</td><td>—</td></tr><tr><td>Credit forwards</td><td>18</td><td>2</td><td>1</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Total</td><td>$1,552</td><td>$-9</td><td>$-3</td><td>$-9</td><td>$5</td><td>$—</td></tr><tr><td> For the Year Ended December 31, 2010:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest rate swaps</td><td>$13</td><td>$—</td><td>$—</td><td>$-1</td><td>$3</td><td>$—</td></tr><tr><td>Foreign currency swaps</td><td>34</td><td>-79</td><td>-6</td><td>2</td><td>—</td><td>—</td></tr><tr><td>Interest rate forwards</td><td>-117</td><td>14</td><td>2</td><td>—</td><td>-2</td><td>—</td></tr><tr><td>Credit forwards</td><td>19</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Total</td><td>$-51</td><td>$-65</td><td>$-4</td><td>$1</td><td>$1</td><td>$—</td></tr><tr><td> For the Year Ended December 31, 2009:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Interest rate swaps</td><td>$-45</td><td>$—</td><td>$—</td><td>$-4</td><td>$-2</td><td>$—</td></tr><tr><td>Foreign currency swaps</td><td>-319</td><td>-133</td><td>-6</td><td>1</td><td>-1</td><td>—</td></tr><tr><td>Interest rate forwards</td><td>147</td><td>79</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Credit forwards</td><td>-4</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Total</td><td>$-221</td><td>$-54</td><td>$-6</td><td>$-3</td><td>$-3</td><td>$—</td></tr></table>

Question: In the year with largest amount of Amounts reclassified to net derivative gains (losses), what's the increasing rate of Amounts reclassified to net investment income?