CITIZENS FINANCIAL GROUP, INC.  MANAGEMENT’S DISCUSSION AND ANALYSIS 74 Maturities and Sensitivities of Loans and Leases to Changes in Interest Rates The following table is a summary of loans and leases by remaining maturity or repricing date:
## Table 0 ##
Loan and Lease Concentrations At December 31, 2017, we did not identify any concentration of loans and leases exceeding 10% of total loans and leases that were not otherwise disclosed as a category of loans and leases.
For further information on how we manage concentration exposures, see Note 5 “Allowance for Credit Losses, Nonperforming Assets, and Concentrations of Credit Risk” to our audited Consolidated Financial Statements in Part II, Item 8 — Financial Statements and Supplementary Data, included in this report.
Non-Core Assets The table below presents the composition of our non-core assets:
## Table 1 ##
KIMCO REALTY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, continued Other— In connection with the construction of its development projects and related infrastructure, certain public agencies require posting of performance and surety bonds to guarantee that the Company’s obligations are satisfied.
These bonds expire upon the completion of the improvements and infrastructure.
As of December 31, 2010, there were approximately $45.3 million in performance and surety bonds outstanding.
As of December 31, 2010, the Company had accrued $3.8 million in connection with a legal claim related to a previously sold ground-up development project.
The Company is currently negotiating with the plaintiff to settle this claim and believes that the probable settlement amount will approximate the amount accrued.
The Company is subject to various other legal proceedings and claims that arise in the ordinary course of business.
Management believes that the final outcome of such matters will not have a material adverse effect on the financial position, results of operations or liquidity of the Company.23.
Incentive Plans: The Company maintains two equity participation plans, the Second Amended and Restated 1998 Equity Participation Plan (the “Prior Plan”) and the 2010 Equity Participation Plan (the “2010 Plan”) (collectively, the “Plans”).
The Prior Plan provides for a maximum of 47,000,000 shares of the Company’s common stock to be issued for qualified and non-qualified options and restricted stock grants.
The 2010 Plan provides for a maximum of 5,000,000 shares of the Company’s common stock to be issued for qualified and non-qualified options, restricted stock, performance awards and other awards, plus the number of shares of common stock which are or become available for issuance under the Prior Plan and which are not thereafter issued under the Prior Plan, subject to certain conditions.
Unless otherwise determined by the Board of Directors at its sole discretion, options granted under the Plans generally vest ratably over a range of three to five years, expire ten years from the date of grant and are exercisable at the market price on the date of grant.
Restricted stock grants generally vest (i) 100% on the fourth or fifth anniversary of the grant, (ii) ratably over three or four years or (iii) over three years at 50% after two years and 50% after the third year.
Performance share awards may provide a right to receive shares of restricted stock based on the Company’s performance relative to its peers, as defined, or based on other performance criteria as determined by the Board of Directors.
In addition, the Plans provide for the granting of certain options and restricted stock to each of the Company’s non-employee directors (the “Independent Directors”) and permits such Independent Directors to elect to receive deferred stock awards in lieu of directors’ fees.
The Company accounts for stock options in accordance with FASB’s Compensation—Stock Compensation guidance which requires that all share based payments to employees, including grants of employee stock options, be recognized in the statement of operations over the service period based on their fair values.
The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing formula.
The assumption for expected volatility has a significant affect on the grant date fair value.
Volatility is determined based on the historical equity of common stock for the most recent historical period equal to the expected term of the options plus an implied volatility measure.
The more significant assumptions underlying the determination of fair values for options granted during 2010, 2009 and 2008 were as follows:
## Table 2 ##
Freescale will indemnify us for liabilities.
However, our ability to recoup such indemni?cation is limited by Freescale's ability to pay.
Item 7A.
Quantitative and Qualitative Disclosures About Market Risk Foreign Currency Risk As a multinational company, the Company's transactions are denominated in a variety of currencies.
The Company uses ?nancial instruments to hedge, and therefore attempts to reduce its overall exposure to the e?ects of currency ?uctuations on cash ?ows.
The Company's policy is not to speculate in ?nancial instruments for pro?t on the exchange rate price ?uctuation, trade in currencies for which there are no underlying exposures, or enter into trades for any currency to intentionally increase the underlying exposure.
Instruments that are designated as hedges must be e?ective at reducing the risk associated with the exposure being hedged and must be designated as a hedge at the inception of the contract.
Accordingly, changes in market values of hedge instruments must be highly correlated with changes in market values of underlying hedged items both at inception of the hedge and over the life of the hedge contract.
The Company's strategy in foreign exchange exposure issues is to o?set the gains or losses of the ?nancial instruments against losses or gains on the underlying operational cash ?ows or investments based on the operating business units' assessment of risk.
Almost all of the Company's non-functional currency receivables and payables, which are denominated in major currencies that can be traded on open markets, are hedged.
The Company uses forward contracts and options to hedge these currency exposures.
In addition, the Company hedges some ?rmly committed transactions and some forecasted transactions.
The Company expects that it may hedge investments in foreign subsidiaries in the future.
A portion of the Company's exposure is from currencies that are not traded in liquid markets and these are addressed, to the extent reasonably possible, through managing net asset positions, product pricing, and component sourcing.
At December 31, 2004 and 2003, the Company had net outstanding foreign exchange contracts totaling $3.9 billion and $2.7 billion, respectively.
Management believes that these ?nancial instruments should not subject the Company to undue risk due to foreign exchange movements because gains and losses on these contracts should o?set losses and gains on the assets, liabilities and transactions being hedged except for the ine?ective portion of the instruments which are charged to Other within Other Income(Expense) in the Company's consolidated statements of operations.
The following table shows, in millions of U. S.  dollars, the ?ve largest net foreign exchange hedge positions as of December 31, 2004 compared to their respective positions at December 31, 2003:
## Table 3 ##
The Company is exposed to credit-related losses if counterparties to ?nancial instruments fail to perform their obligations.
However, the Company does not expect any counterparties, which presently have high credit ratings, to fail to meet their obligations.
Foreign exchange ?nancial instruments that are subject to the e?ects of currency ?uctuations, which may a?ect reported earnings include derivative ?nancial instruments and other ?nancial instruments, which are not denominated in the currency of the legal entity holding the instrument.
Derivative ?nancial instruments consist primarily of forward contracts.
Other ?nancial instruments, which are not denominated in the currency of the legal entity holding the instrument, consist primarily of cash, short-term investments, long-term ?nance receivables, equity investments, and notes as well as accounts payable and receivable.
Accounts payable and receivable are re?ected at fair value in the ?nancial statements.
The fair value of the remainder of the foreign exchange ?nancial instruments would hypothetically decrease by $303 million as of December 31, 2004 if the U. S.  dollar were to appreciate against all other currencies by 10% of current levels.
This hypothetical amount is suggestive of the e?ect on future cash ?ows under the following conditions: (i) all current payables and receivables that are hedged were not realized, (ii) all hedged commitments and anticipated transactions were not realized or canceled, and (iii) hedges of these amounts were not canceled or o?set.
The Company does not expect that any of these conditions will be
Table of Contents Printed circuit boards are then mated to the head-disc assembly and the completed unit is tested prior to packaging and shipment.
Final assembly and test operations of our disc drives occur primarily at facilities located in China, Singapore and Thailand.
We perform subassembly and component manufacturing operations at our facilities in China, Malaysia, Northern Ireland, Singapore, Thailand, and in the United States, in California and Minnesota.
In addition, third parties manufacture and assemble components for us in various Asian countries, including China, Japan, Korea, Malaysia, the Philippines, Singapore, Taiwan, Thailand and Vietnam, and in Europe and the United States.
Products We offer a broad range of disc drive products for the enterprise, desktop, mobile computing and consumer electronics sectors of the disc drive industry.
During fiscal year 2005, we introduced and shipped in volume 12 new disc drive products, including: ?
our first 1-inch form factor disc drive, the ST1, which is primarily used in hand-held consumer electronics devices such as digital music players and digital cameras; ?
larger capacity 3.5-inch form factor disc drives to address the market for larger capacity digital video recorders and home media storage devices and near-line enterprise applications; ?
additional capacity models of our 2.5-inch form factor Momentus mobile computing disc drive which will more completely address our customers’ mobile computing disc drive requirements; and We offer more than one product within each product family, and differentiate products on the basis of price/performance and form factor, or the dimensions of the disc drive.
Historically, our industry has been characterized by continuous and significant advances in technology, which contributed to rapid product life cycles; however, based upon the recent pace of new product introductions, we believe that our industry is currently in a period in which the rate of increases in areal density, which is the storage capacity per square inch on a disc, is lower than the rate of the last several years, resulting in longer product life cycles.
We list in the table below our main current product offerings.

<table><tr><td></td><td colspan="4">December 31, 2017</td></tr><tr><td>(in millions)</td><td>Due in 1 Year or Less</td><td>Due After 1 Year Through 5 Years</td><td>Due After 5 Years</td><td>Total Loans and Leases</td></tr><tr><td>Commercial</td><td>$32,953</td><td>$3,012</td><td>$1,597</td><td>$37,562</td></tr><tr><td>Commercial real estate</td><td>11,104</td><td>104</td><td>100</td><td>11,308</td></tr><tr><td>Leases</td><td>605</td><td>1,879</td><td>677</td><td>3,161</td></tr><tr><td>Total commercial loans and leases</td><td>44,662</td><td>4,995</td><td>2,374</td><td>52,031</td></tr><tr><td>Residential mortgages</td><td>1,248</td><td>1,501</td><td>14,296</td><td>17,045</td></tr><tr><td>Home equity loans</td><td>385</td><td>236</td><td>771</td><td>1,392</td></tr><tr><td>Home equity lines of credit</td><td>12,822</td><td>155</td><td>506</td><td>13,483</td></tr><tr><td>Home equity loans serviced by others</td><td>1</td><td>509</td><td>32</td><td>542</td></tr><tr><td>Home equity lines of credit serviced by others</td><td>149</td><td>—</td><td>—</td><td>149</td></tr><tr><td>Automobile</td><td>145</td><td>8,106</td><td>4,953</td><td>13,204</td></tr><tr><td>Education</td><td>14</td><td>763</td><td>7,357</td><td>8,134</td></tr><tr><td>Credit cards</td><td>1,538</td><td>310</td><td>—</td><td>1,848</td></tr><tr><td>Other retail</td><td>568</td><td>1,524</td><td>697</td><td>2,789</td></tr><tr><td>Total retail loans</td><td>16,870</td><td>13,104</td><td>28,612</td><td>58,586</td></tr><tr><td>Total loans and leases</td><td>$61,532</td><td>$18,099</td><td>$30,986</td><td>$110,617</td></tr><tr><td>Loans and leases due after one year at fixed interest rates</td><td></td><td>$14,628</td><td>$20,824</td><td>$35,452</td></tr><tr><td>Loans and leases due after one year at variable interest rates</td><td></td><td>3,471</td><td>10,162</td><td>13,633</td></tr></table>
<table><tr><td></td><td colspan="2">December 31,</td><td></td><td></td></tr><tr><td>(in millions)</td><td>2017</td><td>2016</td><td>Change</td><td>Percent</td></tr><tr><td>Commercial</td><td>$56</td><td>$144</td><td>-$88</td><td>-61%</td></tr><tr><td>Commercial real estate</td><td>19</td><td>59</td><td>-40</td><td>-68</td></tr><tr><td>Leases</td><td>752</td><td>874</td><td>-122</td><td>-14</td></tr><tr><td>Total commercial loans and leases</td><td>827</td><td>1,077</td><td>-250</td><td>-23</td></tr><tr><td>Residential mortgages</td><td>136</td><td>173</td><td>-37</td><td>-21</td></tr><tr><td>Home equity loans</td><td>40</td><td>45</td><td>-5</td><td>-11</td></tr><tr><td>Home equity lines of credit</td><td>30</td><td>50</td><td>-20</td><td>-40</td></tr><tr><td>Home equity loans serviced by others</td><td>542</td><td>750</td><td>-208</td><td>-28</td></tr><tr><td>Home equity lines of credit serviced by others</td><td>149</td><td>219</td><td>-70</td><td>-32</td></tr><tr><td>Education</td><td>254</td><td>291</td><td>-37</td><td>-13</td></tr><tr><td>Total retail loans</td><td>1,151</td><td>1,528</td><td>-377</td><td>-25</td></tr><tr><td>Total non-core loans</td><td>1,978</td><td>2,605</td><td>-627</td><td>-24</td></tr><tr><td>Other assets</td><td>112</td><td>155</td><td>-43</td><td>-28</td></tr><tr><td>Total non-core assets</td><td>$2,090</td><td>$2,760</td><td>-$670</td><td>-24%</td></tr></table>
<table><tr><td></td><td>Year Ended December 31, 2010</td></tr><tr><td>2009</td><td>2008</td></tr><tr><td>Weighted average fair value of options granted</td><td>$3.82</td><td>$3.16</td><td>$5.73</td></tr><tr><td>Weighted average risk-free interest rates</td><td>2.40%</td><td>2.54%</td><td>3.13%</td></tr><tr><td>Weighted average expected option lives (in years)</td><td>6.25</td><td>6.25</td><td>6.38</td></tr><tr><td>Weighted average expected volatility</td><td>37.98%</td><td>45.81%</td><td>26.16%</td></tr><tr><td>Weighted average expected dividend yield</td><td>4.21%</td><td>5.48%</td><td>4.33%</td></tr></table>
<table><tr><td></td><td colspan="2">December 31</td></tr><tr><td><i>Buy (Sell)</i></td><td>2004</td><td>2003</td></tr><tr><td>Euro</td><td>$-1,588</td><td>$-1,114</td></tr><tr><td>Chinese Renminbi</td><td>-821</td><td>-341</td></tr><tr><td>Brazilian Real</td><td>-318</td><td>-172</td></tr><tr><td>Canadian Dollar</td><td>212</td><td>187</td></tr><tr><td>Japanese Yen</td><td>-179</td><td>-29</td></tr></table>

Question: What is the growing rate of Leases in the years with the least Commercial real estate?