INTEL CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) The fair value of our grants receivable is determined using a discounted cash flow model, which discounts future cash flows using an appropriate yield curve.
As of December 28, 2013, and December 29, 2012, the carrying amount of our grants receivable was classified within other current assets and other long-term assets, as applicable.
Our long-term debt recognized at amortized cost is comprised of our senior notes and our convertible debentures.
The fair value of our senior notes is determined using active market prices, and it is therefore classified as Level 1.
The fair value of our convertible long-term debt is determined using discounted cash flow models with observable market inputs, and it takes into consideration variables such as interest rate changes, comparable securities, subordination discount, and credit-rating changes, and it is therefore classified as Level 2.
The NVIDIA Corporation (NVIDIA) cross-license agreement liability in the preceding table was incurred as a result of entering into a long-term patent cross-license agreement with NVIDIA in January 2011.
We agreed to make payments to NVIDIA over six years.
As of December 28, 2013, and December 29, 2012, the carrying amount of the liability arising from the agreement was classified within other accrued liabilities and other long-term liabilities, as applicable.
The fair value is determined using a discounted cash flow model, which discounts future cash flows using our incremental borrowing rates.
Note 5: Cash and Investments Cash and investments at the end of each period were as follows:
## Table 0 ##
In the third quarter of 2013, we sold our shares in Clearwire Corporation, which had been accounted for as available-for-sale marketable equity securities, and our interest in Clearwire Communications, LLC (Clearwire LLC), which had been accounted for as an equity method investment.
In total, we received proceeds of $470 million on these transactions and recognized a gain of $439 million, which is included in gains (losses) on equity investments, net on the consolidated statements of income.
Proceeds received and gains recognized for each investment are included in the "Available-for-Sale Investments" and "Equity Method Investments" sections that follow.
The following table presents assets under management at the dates indicated:
## Table 1 ##
Year ended September 30, 2007 Compared with the Year ended September 30, 2006 - Asset Management The Asset Management segment has benefited significantly from the successful recruiting in PCG.
New Financial Advisors bring additional client assets, a portion of which is often directed into an asset management alternative.
In addition, both Eagle and Heritage have been successful in their efforts to increase their presence on outside broker-dealer platforms.
Eagle’s retail sales to outside broker-dealers were 33% of their total 2007 sales, while Heritage’s were 78% of their total sales.
Revenues in this segment increased 13% on a 17% increase in assets under management, as there continues to be some fee compression.
Expenses increased only 10%, generating a 24% increase in pre-tax earnings and a 26% margin as a result of operating leverage.
Money market fund balances declined as a result of the transfer of $1.3 billion to RJBank in March 2007.
Year ended September 30, 2006 Compared with the Year ended September 30, 2005 - Asset Management Investment Advisory fees increased over $20 million, or 14%, on a 16% increase in assets under management.
Increases in assets under management were positively impacted by the recruiting of RJA Financial Advisors.
New Financial Advisors brought significant assets into the Company's asset management programs, particularly Eagle and Raymond James Consulting Services (“RJCS”).
New managed assets brought in by RJA Financial Advisors totaled $3.9 billion for fiscal 2006, a 70% increase over $2.3 billion added in fiscal 2005.
Eagle's total retail assets increased 19% over the prior year.
Of Eagle's retail asset total, 35% were introduced by Financial Advisors outside the Raymond James system.
Account cancellations exceeded sales in Eagle's institutional accounts due to the loss of a few significant accounts and the closing of the Institutional Growth division in September.
RJCS offers 40 independent investment advisors to the Company's clients.
Assets managed within the program increased 20% over the prior year.
The Company's managed mutual fund product (Freedom) continued to experience significant growth (105%) as this concept continues to be embraced by clients and Financial Advisors.
Heritage Asset Management's non-money market funds increased 19% with 65% of the sales through broker-dealers outside of the Raymond James family.
Heritage money market accounts increased 4% despite the movement of just over $1 billion to RJBank sweep option during the year.
Expenses in this segment increased $19 million (14%) with $8 million of that increase in compensation.
The Compensation increase included increased salary expense, costs associated with closing Eagle's institutional growth division, and increased incentive compensation related to the 21% increase in pre-tax profits.
The other notable increase in expense was a $6.2 million (19%) increase in investment advisory fees related to the growth in assets in accounts managed by independent investment advisors.
Loans Payable Related to Investments by Variable Interest Entities in Real Estate Partnerships The borrowings of certain VIEs’ are comprised of several loans, which are non-recourse to the Company.
See Note 6 of the Notes to Consolidated Financial Statements for additional information regarding the entities deemed to be variable interest entities under FIN 46R, which are consolidated by the Company.
VIEs’ loans payable at September 30, 2007 and September 30, 2006 are presented below:
## Table 2 ##
VIEs’ long-term borrowings at September 30, 2007, based on their contractual terms, mature as follows (in 000's):
## Table 3 ##
NOTE 11 – DERIVATIVE FINANCIAL INSTRUMENTS: The Company uses interest rate swaps as well as futures contracts as part of its fixed income business.
These positions are marked to market with the gain or loss and the related interest recorded in Net Trading Profits within the statement of income for the period.
Any collateral exchanged as part of the swap agreement is recorded in Broker Receivables and Payables in the Consolidated Statements of Financial Condition for the period.
At September 30, 2007 and September 30, 2006, the Company had outstanding interest rate derivative contracts with notional amounts of $3.5 billion and $2.3 billion, respectively.
The notional amount of a derivative contract does not change hands; it is simply used as a reference to calculate payments.
Accordingly, the notional amount of the Company’s derivative contracts outstanding at September 30, 2007 vastly exceeds the possible losses that could arise from such transactions.
The net market value of all open swap positions at September 30, 2007 and September 30, 2006 was $22.2 million and $13 million, respectively.
The Company is exposed to credit losses in the event of nonperformance by the counterparties to its interest rate swap agreements.
The Company performs a credit evaluation of counterparties prior to entering into swap transactions and monitors their credit standings.
Currently, the Company anticipates that all counterparties will be able to fully satisfy their obligations under those agreements.
The Company may require collateral from counterparties to support these obligations as established by the credit threshold specified by the agreement and/or as a result of monitoring the credit standing of the counterparties.
The Company is also exposed to interest rate risk related to its interest rate swap agreements.
The Company monitors exposure in its derivatives subsidiary daily based on established limits with respect to a number of factors, including interest rate, spread, ratio and basis, and volatility risks.
These exposures are monitored both on a total portfolio basis and separately for selected maturity periods.
NOTE 12 - INCOME TAXES: The provision (benefit) for income taxes consists of the following:
## Table 4 ##
retained earnings.
The number of shares of RJF common stock held by the ESOP at September 30, 2007 and 2006 was approximately 5,538,000 and 5,370,000, respectively.
The Company also offers a plan pursuant to section 401(k) of the Internal Revenue Code, which provides for the Company to match 100% of the first $500 and 50% of the next $500 of compensation deferred by each participant annually.
The Company's Long Term Incentive Plan (“LTIP”) is a non-qualified deferred compensation plan that provides benefits to employees who meet certain compensation or production requirements.
The Company has purchased and holds life insurance on the lives of most of those employees participating in the LTIP, to earn a competitive rate of return for participants and to provide a source of funds available to satisfy its obligations under this plan.
Contributions to the qualified plans and the LTIP contribution for management are made in amounts approved annually by the Board of Directors.
Compensation expense includes aggregate contributions to these plans of $40,476,439, $36,912,285, and $26,872,875 for fiscal years 2007, 2006, and 2005, respectively.
Stock-Based Compensation Plans At September 30, 2007, the Company had multiple stock-based employee compensation plans, which are described below.
The Company issues new shares under all plans approved by shareholders.
Effective October 1, 2005, the Company adopted SFAS No.123R, “Share-Based Payment”.
The adoption of this statement did not have a material impact on the Company’s consolidated financial statements given that it adopted the fair value recognition provisions of SFAS No.123 effective September 28, 2002 using the modified prospective application transition method within the provisions of SFAS No.148, “Accounting for Stock-Based Compensation – Transition and Disclosure”.
Prior to the adoption of SFAS No.123R, benefits of tax deductions in excess of recognized compensation costs were reported as operating cash flows.
SFAS No.123R requires excess tax benefits to be reported as a financing cash inflow rather than as a reduction of taxes paid, as part of operating cash flows.
Fixed Stock Option Plans The Company has two qualified and two non-qualified fixed stock option plans available for grants to employees and members of the Company’s Board of Directors.
Under the 2002 Incentive Stock Option Plan, one of the Company’s qualified plans, the Company may grant options to its management personnel for up to 9,000,000 shares of common stock.
The 2002 Plan was established to replace, on substantially the same terms and conditions, the 1992 Plan.
As of September 30, 2007, the 1992 Plan still has options outstanding.
Options are granted to key administrative employees and Financial Advisors of Raymond James & Associates, Inc.  who achieve certain gross commission levels.
Options are exercisable in the 36th to 72nd months following the date of grant and only in the event that the grantee is an employee of the Company at that time, disabled, deceased or recently retired.
As noted above, the Company has two non-qualified fixed stock option plans.
Under the first of those plans, the Company may grant up to 854,298 shares of common stock to the Company's outside directors.
Options vest over a three-year period from grant date provided that the director is still serving on the Board of the Company.
Under the Company's second non-qualified stock option plan, the Company may grant up to 2,531,250 shares of common stock to key management personnel.
Option terms are specified in individual agreements and expire on a date no later than the tenth anniversary of the grant date.
Under all fixed stock option plans, the exercise price of each option equals the market price of the Company's stock on the date of grant.
The Company’s net income for the years ended September 30, 2007, September 30, 2006, and September 30, 2005 includes $5.9 million, $5.6 million, and $6.2 million, respectively, of compensation costs and $212,000, $281,000, and $293,000, respectively of income tax benefits related to the Company’s four fixed stock option plans available for grants to employees and members of its Board of Directors.
These amounts may not be representative of future stock-based compensation expense since the estimated fair value of stock options is amortized to expense straight line over the vesting period and additional options may be granted in future years.
The fair value of each fixed option grant for these plans is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions used for stock option grants in years ended 2007, 2006, and 2005:

<table><tr><td>(In Millions)</td><td>Dec 28,2013</td><td>Dec 29,2012</td></tr><tr><td>Available-for-sale investments</td><td>$18,086</td><td>$14,001</td></tr><tr><td>Cash</td><td>854</td><td>593</td></tr><tr><td>Equity method investments</td><td>1,038</td><td>992</td></tr><tr><td>Loans receivable</td><td>1,072</td><td>979</td></tr><tr><td>Non-marketable cost method investments</td><td>1,270</td><td>1,202</td></tr><tr><td>Reverse repurchase agreements</td><td>800</td><td>2,850</td></tr><tr><td>Trading assets</td><td>8,441</td><td>5,685</td></tr><tr><td>Total cash and investments</td><td>$31,561</td><td>$26,302</td></tr></table>
<table><tr><td></td><td>September 30, 2007</td><td>% Incr. (Decr.)</td><td>September 30, 2006</td><td>% Incr. (Decr.)</td><td>September 30, 2005</td></tr><tr><td>Assets Under Management:</td><td colspan="5">($ in 000's)</td></tr><tr><td>Eagle Asset Mgmt., Inc.</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Retail</td><td>$ 6,925,930</td><td>24%</td><td>$ 5,600,806</td><td>19%</td><td>$ 4,719,275</td></tr><tr><td>Institutional</td><td>7,601,374</td><td>11%</td><td>6,862,611</td><td>1%</td><td>6,823,906</td></tr><tr><td>Total Eagle</td><td>14,527,304</td><td>17%</td><td>12,463,417</td><td>8%</td><td>11,543,181</td></tr><tr><td>Heritage Family of Mutual Funds</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Money Market</td><td>5,524,598</td><td>-12%</td><td>6,306,508</td><td>4%</td><td>6,058,612</td></tr><tr><td>Other</td><td>3,956,677</td><td>32%</td><td>3,004,816</td><td>19%</td><td>2,534,975</td></tr><tr><td>Total Heritage</td><td>9,481,275</td><td>2%</td><td>9,311,324</td><td>8%</td><td>8,593,587</td></tr><tr><td>Raymond James Consulting Services</td><td>9,638,691</td><td>22%</td><td>7,915,168</td><td>20%</td><td>6,573,448</td></tr><tr><td>Awad Asset Management</td><td>622,860</td><td>-37%</td><td>996,353</td><td>-18%</td><td>1,222,199</td></tr><tr><td>Freedom Accounts</td><td>8,144,920</td><td>59%</td><td>5,122,733</td><td>105%</td><td>2,496,772</td></tr><tr><td>Total Assets Under Management</td><td>42,415,050</td><td>18%</td><td>35,808,995</td><td>18%</td><td>30,429,187</td></tr><tr><td>Less: Assets Managed for Affiliated Entities</td><td>-5,305,506</td><td>33%</td><td>-3,991,281</td><td>36%</td><td>-2,936,804</td></tr><tr><td>Third Party Assets Under Management</td><td>$ 37,109,544</td><td>17%</td><td>$ 31,817,714</td><td>16%</td><td>$ 27,492,383</td></tr></table>
<table><tr><td></td><td>September 30, 2007</td><td>September 30, 2006</td></tr><tr><td></td><td colspan="2">(in 000's)</td></tr><tr><td>Current Portion of Loans Payable</td><td>$ 13,839</td><td>$ 32,787</td></tr><tr><td>Long-Term Portion of Loans Payable</td><td>102,640</td><td>160,860</td></tr><tr><td>Total Loans Payable</td><td>$116,479</td><td>$193,647</td></tr></table>
<table><tr><td></td><td colspan="3">Year Ended</td></tr><tr><td></td><td>September 30,</td><td rowspan="2">September 30, 2006 (in 000’s)</td><td>September 30,</td></tr><tr><td></td><td>2007</td><td>2005</td></tr><tr><td>Current Provision:</td><td></td><td></td><td></td></tr><tr><td>Federal</td><td>$ 142,531</td><td>$ 102,665</td><td>$ 78,783</td></tr><tr><td>State</td><td>17,098</td><td>16,844</td><td>15,483</td></tr><tr><td>International</td><td>-5,813</td><td>13,379</td><td>8,231</td></tr><tr><td></td><td>153,816</td><td>132,888</td><td>102,497</td></tr><tr><td>Deferred benefit:</td><td></td><td></td><td></td></tr><tr><td>Federal</td><td>-26,132</td><td>-3,742</td><td>-3,058</td></tr><tr><td>State</td><td>-1,463</td><td>-495</td><td>-1,867</td></tr><tr><td>International</td><td>15,573</td><td>-927</td><td>-647</td></tr><tr><td></td><td>-12,022</td><td>-5,164</td><td>-5,572</td></tr><tr><td></td><td>$ 141,794</td><td>$ 127,724</td><td>$ 96,925</td></tr></table>
<table><tr><td>2009</td><td>$ 13,267</td></tr><tr><td>2010</td><td>12,720</td></tr><tr><td>2011</td><td>12,748</td></tr><tr><td>2012</td><td>13,036</td></tr><tr><td>2013 and Thereafter</td><td>50,869</td></tr><tr><td>Total</td><td>$102,640</td></tr></table>

Question: what was the percent of the increase in the total cash and investments from 2012 to 2013