Archer Daniels Midland Company Notes to Consolidated Financial Statements (Continued) Note 13.
Employee Benefit Plans The Company provides substantially all domestic employees and employees at certain international subsidiaries with pension benefits.
The Company also provides substantially all domestic salaried employees with postretirement health care and life insurance benefits.
The Company has savings and investment plans available to employees.
The Company also maintains stock ownership plans for qualifying employees.
The Company contributes shares of its stock to the plans to match qualifying employee contributions.
Employees have the choice of retaining Company stock in their accounts or diversifying the shares into other investment options.
Expense is measured and recorded based upon the fair market value of the stock contributed to the plans each month.
The number of shares designated for use in the plans is not significant compared to the shares outstanding for the periods presented.
Assets of the Company’s defined contribution savings plans consist primarily of listed common stocks and pooled funds.
The Company’s defined contribution savings plans held 16.4 million shares of Company common stock at June 30, 2008, with a market value of $555 million.
Cash dividends received on shares of Company common stock held by these plans during the year ended June 30, 2008 were $9 million.
## Table 0 ##
On June 30, 2007, the Company adopted the recognition and disclosure provisions of SFAS No.158.
SFAS No.158 required the Company to recognize the funded status of its pension plans in the June 30, 2007, consolidated balance sheet, with a corresponding adjustment to accumulated other comprehensive income.
The adjustment to accumulated other comprehensive income at adoption represented the net unrecognized actuarial losses, unrecognized prior service costs, and unrecognized transition obligation remaining from the initial adoption of SFAS No.87, Employers’ Accounting for Pensions, all of which were previously netted against the plans’ funded status in the Company’s consolidated balance sheet pursuant to the provisions of SFAS No.87.
These amounts are subsequently recognized as net periodic pension cost pursuant to the Company’s historical accounting policy for amortizing such amounts.
Further, actuarial gains and losses that arise in subsequent periods and are not recognized as net periodic pension cost in the same periods are recognized as a component of other comprehensive income.
Those amounts are subsequently recognized as a component of net periodic pension cost on the same basis as the amounts recognized in accumulated other comprehensive income pursuant to the provisions of SFAS No.158.
Item 7A.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK The market risk inherent in the Company’s market risk sensitive instruments and positions is the potential loss arising from adverse changes in: commodity market prices as they relate to the Company’s net commodity position, foreign currency exchange rates, and interest rates as described below.
Commodities The availability and prices of agricultural commodities are subject to wide fluctuations due to factors such as changes in weather conditions, crop disease, plantings, government programs and policies, competition, changes in global demand, changes in customer preferences and standards of living, and global production of similar and competitive crops.
The Company manages its exposure to adverse price movements of agricultural commodities used for, and produced in, its business operations, by entering into derivative and non-derivative contracts which reduce the Company’s overall short or long commodity position.
Additionally, the Company uses exchange-traded futures and exchange-traded and over-the-counter option contracts as components of merchandising strategies designed to enhance margins.
The results of these strategies can be significantly impacted by factors such as the correlation between the value of exchange-traded commodities futures contracts and the cash prices of the underlying commodities, counterparty contract defaults, and volatility of freight markets.
In addition, the Company, from time-to-time, enters into derivative contracts which are designated as hedges of specific volumes of commodities that will be purchased and processed, or sold, in a future month.
The changes in the market value of such futures contracts have historically been, and are expected to continue to be, highly effective at offsetting changes in price movements of the hedged item.
Gains and losses arising from open and closed designated hedging transactions are deferred in other comprehensive income, net of applicable taxes, and recognized as a component of cost of products sold or net sales and other operating income in the statement of earnings when the hedged item is recognized.
The Company’s commodity position consists of merchandisable agricultural commodity inventories, related purchase and sales contracts, energy and freight contracts, and exchange-traded futures and exchange-traded and over-the-counter option contracts including contracts used to hedge portions of production requirements, net of sales.
The fair value of the Company’s commodity position is a summation of the fair values calculated for each commodity by valuing all of the commodity positions at quoted market prices for the period, where available, or utilizing a close proxy.
The Company has established metrics to monitor the amount of market risk exposure, which consist of volumetric limits, and value-at-risk (VaR) limits.
VaR measures the potential loss, at a 95% confidence level, that could be incurred over a one year period.
Volumetric limits are monitored daily and VaR calculations and sensitivity analysis are monitored weekly.
In addition to measuring the hypothetical loss resulting from an adverse two standard deviation move in market prices (assuming no correlations) over a one year period using VaR, sensitivity analysis is performed measuring the potential loss in fair value resulting from a hypothetical 10% adverse change in market prices.
The highest, lowest, and average weekly position for each of the last two years together with the market risk from a hypothetical 10% adverse price change is as follows:
## Table 1 ##
The decline in fair value of the average position for 2012 compared to 2011 was principally the result of the decline in average quantities underlying the weekly commodity position.
Comcast Corporation Finite-Lived Intangible Assets Estimated Amortization Expense of Finite-Lived Intangible Assets
## Table 2 ##
Finite-lived intangible assets are subject to amortization and consist primarily of customer relationships acquired in business combinations, software, cable franchise renewal costs, contractual operating rights and intellectual property rights.
Our finite-lived intangible assets are amortized primarily on a straight-line basis over their estimated useful life or the term of the associated agreement.
We capitalize direct development costs associated with internal-use software, including external direct costs of material and services and payroll costs for employees devoting time to these software projects.
We also capitalize costs associated with the purchase of software licenses.
We include these costs in other intangible assets and generally amortize them on a straight-line basis over a period not to exceed five years.
We expense maintenance and training costs, as well as costs incurred during the preliminary stage of a project, as they are incurred.
We capitalize initial operating system software costs and amortize them over the life of the associated hardware.
We evaluate the recoverability of our finite-lived intangible assets whenever events or substantive changes in circumstances indicate that the carrying amount may not be recoverable.
The evaluation is based on the cash flows generated by the underlying asset groups, including estimated future operating results, trends or other determinants of fair value.
If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge to the extent the carrying amount of the asset group exceeded its estimated fair value.
Unless presented separately, the impairment charge is included as a component of amortization expense.
The following table summarizes changes in our estimated consolidated recoverable proven and probable copper, gold and molybdenum reserves during 2013 and 2012:
## Table 3 ##
a.
Includes estimated recoverable metals contained in stockpiles.
See below for additional discussion of recoverable copper in stockpiles.
Refer to Note 20 for further information regarding estimated recoverable proven and probable mineral reserves.
As discussed in Note 1, we depreciate our life-of-mine mining and milling assets and values assigned to proven and probable mineral reserves using the unit-of-production (UOP) method based on our estimated recoverable proven and probable mineral reserves.
Because the economic assumptions used to estimate mineral reserves change from period to period and additional geological data is generated during the course of operations, estimates of reserves may change, which could have a significant impact on our results of operations, including changes to prospective depreciation rates and impairments of asset carrying values.
Excluding impacts associated with changes in the levels of finished goods inventories and based on projected copper sales volumes for 2014, if estimated copper reserves at our mines were 10 percent higher at December 31, 2013, we estimate that our annual depreciation, depletion and amortization expense for 2014 would decrease by $59 million ($30 million to net income attributable to common stockholders), and a 10 percent decrease in copper reserves would increase depreciation, depletion and amortization expense by $72 million ($37 million to net income attributable to common stockholders).
We perform annual assessments of our existing assets in connection with the review of mine operating and development plans.
If it is determined that assigned asset lives do not reflect the expected remaining period of benefit, any change could affect prospective depreciation rates.
As discussed below and in Note 1, we review and evaluate our long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amount of such assets may not be recoverable, and changes to our estimates of recoverable proven and probable mineral reserves could have an impact on our assessment of asset recoverability Recoverable Copper in Stockpiles.
We record, as inventory, applicable costs for copper contained in mill and leach stockpiles that are expected to be processed in the future based on proven processing technologies.
Mill and leach stockpiles are evaluated periodically to ensure that they are stated at the lower of cost or market.
Accounting for recoverable copper from mill and leach stockpiles represents a critical accounting estimate because (i) it is impracticable to determine copper contained in mill and leach stockpiles by physical count, thus requiring management to employ reasonable estimation methods and (ii) recovery rates from leach stockpiles can vary significantly.
The quantity of material delivered to mill and leach stockpiles is based on surveyed volumes of mined material and daily production records.
Sampling and assaying of blasthole cuttings determine the estimated copper grade contained in the material delivered to the mill and leach stockpiles.
Expected copper recovery rates for mill stockpiles are determined by metallurgical testing.
The recoverable copper in mill stockpiles, once entered into the production process, can be produced into copper concentrate almost immediately.
Expected copper recovery rates for leach stockpiles are determined using small-scale laboratory tests, small- to large-scale column testing (which simulates the production-scale process), historical trends and other factors, including mineralogy of the ore and rock type.
Total copper recovery in leach stockpiles can vary significantly from a low percentage to more than 90 percent depending on several variables, including processing methodology, processing variables, mineralogy and particle size of the rock.
For newly placed material on active stockpiles, as much as 80 percent total copper recovery may be extracted during the first year, and the remaining copper may be recovered over many years.
Processes and recovery rates for mill and leach stockpiles are monitored regularly, and recovery rate estimates are adjusted periodically as additional information becomes available and as related technology changes.
Adjustments to recovery rates will typically result in a future impact to the value of the material removed from the stockpiles at a revised weighted-average cost per pound of recoverable copper.
At December 31, 2013, estimated consolidated recoverable copper was 3.3 billion pounds in leach stockpiles (with a carrying value of $3.3 billion) and 1.4 billion pounds in mill stockpiles (with a carrying value of $789 million), compared with 2.9 billion pounds in leach stockpiles (with a carrying value of $2.9 billion) and 1.4 billion pounds in mill stockpiles (with a carrying value of $719 million) at December 31, 2012.
Oil and Natural Gas Reserves.
Proved reserves are those quantities of oil and natural gas, which, by analysis of geoscience and engineering data, can be estimated with reasonable certainty to be economically producible from a given date forward, from known reservoirs, and under existing economic conditions, operating methods and government regulations.
The term
recorded in connection with the acquisitions is not deductible for income tax purposes.
The final valuation of assets acquired, liabilities assumed and redeemable noncontrolling interest is not complete and the net adjustments to those values may result in changes to goodwill and other carrying amounts initially assigned to the assets, liabilities and redeemable noncontrolling interest based on the preliminary fair value analysis.
The principal remaining items to be valued are tax assets and liabilities, and any related valuation allowances, which will be finalized in connection with the filing of related tax returns.
A summary of the 2013 adjustments to the initial fair values assigned to assets acquired, liabilities assumed and redeemable noncontrolling interest from the acquisitions follows:
## Table 4 ##
The fair value measurement of the oil and gas properties, asset retirement obligations included in other liabilities (refer to Note 12 for further discussion) and redeemable noncontrolling interest were based, in part, on significant inputs not observable in the market (as discussed above) and thus represents a Level 3 measurement.
The fair value measurement of long-term debt, including the current portion, was based on prices obtained from a readily available pricing source and thus represents a Level 2 measurement.
Goodwill arose on these acquisitions principally because of limited drilling activities to date and the absence of production history and material reserve data associated with the very large geologic potential of an emerging trend targeting deep-seated structures in the shallow waters of the GOM and onshore analogous to large discoveries in the Deepwater GOM and other proven basins’ prospects.
In addition, goodwill also resulted from the requirement to recognize deferred taxes on the difference between the fair value and the tax basis of the acquired assets.
For the seven-month period from June 1, 2013, to December 31, 2013, FM O&G contributed revenue of $2.6 billion and operating income of $450 million to FCX’s consolidated results.
FCX’s acquisition-related costs associated with the acquisitions of PXP and MMR totaled $74 million for the year ended December 31, 2013, which were included in selling, general and administrative expenses in the consolidated statements of income.
In addition, FCX deferred debt issuance costs of $96 million in connection with the debt financings of the acquisitions (refer to Note 8 for further discussion of the debt financings), which are included in other assets in the consolidated balance sheet as of December 31, 2013.
Redeemable Noncontrolling Interest — PXP.
In 2011, PXP issued (i) 450,000 shares of Plains Offshore Operations Inc.  (Plains Offshore, a consolidated subsidiary) 8% Convertible Preferred Stock (Preferred Stock) for gross proceeds of $450 million and (ii) non-detachable warrants with an exercise price of $20 per share to purchase in aggregate 9.1 million shares of Plains Offshore’s common stock.
In addition, Plains Offshore issued 87 million shares of Plains Offshore Class A common stock, which will be held in escrow until the conversion and cancellation of the Preferred Stock or the exercise of the warrants.
Plains Offshore holds certain of FM O&G’s oil and gas properties and assets located in the GOM in water depths of 500 feet or more, including the Lucius oil field and the Phobos discovery, but excluding the properties acquired by PXP in 2012 from BP Exploration & Production Inc. , BP America Production Company and Shell Offshore Inc.
The Preferred Stock represents a 20 percent equity interest in Plains Offshore and is entitled to a dividend of 8 percent per annum, payable quarterly, of which 2 percent may be deferred ($23 million of accumulated deferred dividends as of December 31, 2013).
The preferred holders are entitled to vote on all matters on which Plains Offshore common stockholders are entitled to vote.
The shares of Preferred Stock also fully participate, on an as-converted basis at four times, in cash dividends distributed to any class of common stockholders of Plains Offshore.
Plains Offshore has not distributed any dividends to its common stockholders.
The holders of the Preferred Stock (preferred holders) have the right, at any time at their option, to convert any or all of such holder’s shares of Preferred Stock and exercise any of the associated non-detachable warrants into shares of Class A common stock of Plains Offshore, at an initial conversion/ exercise price of $20 per share; the conversion price is subject to adjustment as a result of certain events.
Furthermore, Plains Offshore has the right to convert all or a portion of the outstanding shares of Preferred Stock if certain events occur more than 180 days after an initial public offering or a qualified public offering of Plains Offshore.
FM O&G also has a right to purchase shares of Plains Offshore preferred stock, common stock and warrants under certain circumstances in order to permit the consolidation of Plains Offshore for federal income tax purposes.
Additionally, at any time on or after November 17, 2016, the fifth anniversary of the closing date, FM O&G may exercise a call right to purchase all, but not less than all, of the outstanding shares of Preferred Stock and associated non-detachable warrants for cash, at a price equal to the liquidation preference described below.
At any time after November 17, 2015, the fourth anniversary of the closing date, a majority of the preferred holders may cause
## Table 5 ##
(1) The amount of Level 3 assets taken as a percentage of total assets measured at fair value on a recurring basis totaled 6% and 6% for the Financial Services Businesses and Closed Block Business, respectively.
Excluding separate account assets for which the risk is borne by the policyholder, the amount of Level 3 assets taken as a percentage of total assets measured at fair value on a recurring basis totaled 4% for the Financial Services Businesses.
The amount of Level 3 liabilities was immaterial to our balance sheet.
(2) “Netting” amounts represent cash collateral and the impact of offsetting asset and liability positions held with the same counterparty.
(3) Includes reclassifications to conform to current period presentation.
(4) Separate account assets represent segregated funds that are invested for certain customers.
Investment risks associated with market value changes are borne by the customers, except to the extent of minimum guarantees made by us with respect to certain accounts.
Separate account assets classified as Level 3 consist primarily of real estate and real estate investment funds.
Separate account liabilities are not included in the above table as they are reported at contract value and not fair value in our Consolidated Statement of Financial Position.
For additional information regarding the balances of assets and liabilities measured at fair value by hierarchy level see Note 20 to the Consolidated Financial Statements.
The determination of fair value, which for certain assets and liabilities is dependent on the application of estimates and assumptions, can have a significant impact on our results of operations.
As discussed in more detail below, the determination of fair value for certain assets and liabilities may require the application of a greater degree of judgment depending on market conditions, as the ability to value assets and liabilities can be significantly impacted by a decrease in market activity or a lack of transactions executed in an orderly manner.
For a description of the key estimates and assumptions used in our determination of fair value, see Note 20 to the Consolidated Financial Statements.
The following sections provide additional information regarding certain assets and liabilities of our Financial Services Businesses and our Closed Block Business which are valued using Level 3 inputs and could have a significant impact on our results of operations.
Information regarding Separate Account Assets is excluded as the risk of assets for these categories is primarily borne by our customers and policyholders.
Fixed Maturity and Equity Securities Public fixed maturity securities included in Level 3 in our fair value hierarchy are generally priced based on internally-developed valuations or non-binding broker quotes.
Despite the dislocated markets and low levels of liquidity in recent years, except for our assetbacked securities collateralized by sub-prime mortgages as discussed below, the pricing we received from independent pricing services was
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 10.

<table><tr><td></td><td colspan="3">Pension Benefits</td><td colspan="3">Postretirement Benefits</td></tr><tr><td></td><td>2008</td><td>2007</td><td>2006</td><td>2008</td><td>2007</td><td>2006</td></tr><tr><td></td><td colspan="3">(In millions)</td><td colspan="3">(In millions)</td></tr><tr><td>Retirement plan expense</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Defined benefit plans:</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Service cost (benefits earned during the period)</td><td>$68</td><td>$62</td><td>$59</td><td>$9</td><td>$7</td><td>$6</td></tr><tr><td>Interest cost</td><td>109</td><td>94</td><td>87</td><td>12</td><td>10</td><td>9</td></tr><tr><td>Expected return on plan assets</td><td>-121</td><td>-102</td><td>-81</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Curtailment</td><td>–</td><td>–</td><td>10</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Amortization of actuarial loss</td><td>17</td><td>19</td><td>35</td><td>2</td><td>1</td><td>–</td></tr><tr><td>Other amortization</td><td>5</td><td>6</td><td>4</td><td>-1</td><td>-1</td><td>–</td></tr><tr><td>Net periodic defined benefit plan expense</td><td>78</td><td>79</td><td>114</td><td>22</td><td>17</td><td>15</td></tr><tr><td>Defined contribution plans</td><td>31</td><td>29</td><td>27</td><td>–</td><td>–</td><td>–</td></tr><tr><td>Total retirement plan expense</td><td>$109</td><td>$108</td><td>$141</td><td>$22</td><td>$17</td><td>$15</td></tr></table>
<table><tr><td></td><td colspan="2">2012</td><td colspan="2">2011</td></tr><tr><td>Long/(Short)</td><td>Fair Value</td><td>Market Risk</td><td>Fair Value</td><td>Market Risk</td></tr><tr><td></td><td colspan="4">(In millions)</td></tr><tr><td>Highest position</td><td>$1,477</td><td>$148</td><td>$2,388</td><td>$239</td></tr><tr><td>Lowest position</td><td>-383</td><td>-38</td><td>368</td><td>37</td></tr><tr><td>Average position</td><td>546</td><td>55</td><td>1,644</td><td>164</td></tr></table>
<table><tr><td>2016</td><td>$1,785</td></tr><tr><td>2017</td><td>$1,612</td></tr><tr><td>2018</td><td>$1,365</td></tr><tr><td>2019</td><td>$1,039</td></tr><tr><td>2020</td><td>$902</td></tr></table>
<table><tr><td></td><td>Copper<sup>a</sup>(billionpounds)</td><td>Gold(millionounces)</td><td>Molybdenum(billionpounds)</td></tr><tr><td>Consolidated reserves at December 31, 2011</td><td>119.7</td><td>33.9</td><td>3.42</td></tr><tr><td>Net additions/revisions</td><td>0.5</td><td>-0.4</td><td>0.08</td></tr><tr><td>Production</td><td>-3.7</td><td>-1.0</td><td>-0.08</td></tr><tr><td>Consolidated reserves at December 31, 2012</td><td>116.5</td><td>32.5</td><td>3.42</td></tr><tr><td>Net additions/revisions</td><td>-1.2</td><td>—</td><td>-0.07</td></tr><tr><td>Production</td><td>-4.1</td><td>-1.2</td><td>-0.09</td></tr><tr><td>Consolidated reserves at December 31, 2013</td><td>111.2</td><td>31.3</td><td>3.26</td></tr></table>
<table><tr><td></td><td>PXP</td><td>MMR</td><td>Total</td></tr><tr><td>Increase in current assets (primarily current deferred income tax asset)</td><td>$183</td><td>$2</td><td>$185</td></tr><tr><td>Decreases in oil and gas properties - full cost method:</td><td></td><td></td><td></td></tr><tr><td>Subject to amortization</td><td>—</td><td>-45</td><td>-45</td></tr><tr><td>Not subject to amortization</td><td>-234</td><td>-6</td><td>-240</td></tr><tr><td>Increase in other assets (deferred income tax asset)</td><td>—</td><td>24</td><td>24</td></tr><tr><td>Net increase in deferred income tax liability</td><td>-45</td><td>—</td><td>-45</td></tr><tr><td>Net decrease (increase) in other liabilities (primarily warrants)</td><td>77</td><td>-4</td><td>73</td></tr><tr><td>Decrease in redeemable noncontrolling interest</td><td>41</td><td>—</td><td>41</td></tr><tr><td>(Decrease) increase in goodwill</td><td>-17</td><td>29</td><td>12</td></tr></table>
<table><tr><td></td><td colspan="5"> Closed Block Business as of December 31, 2009</td></tr><tr><td></td><td> Level 1</td><td> Level 2</td><td> Level 3-1</td><td> Netting-2</td><td> Total</td></tr><tr><td></td><td colspan="5"> (in millions)</td></tr><tr><td>Fixed maturities, available for sale:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. Treasury securities and obligations of U.S. government authorities and agencies</td><td>$0</td><td>$3,645</td><td>$0</td><td></td><td>$$3,645</td></tr><tr><td>Obligations of U.S. states and their political subdivisions</td><td>0</td><td>586</td><td>0</td><td></td><td>586</td></tr><tr><td>Foreign government bonds</td><td>0</td><td>681</td><td>16</td><td></td><td>697</td></tr><tr><td>Corporate securities</td><td>0</td><td>27,335</td><td>368</td><td></td><td>27,703</td></tr><tr><td>Asset-backed securities</td><td>0</td><td>980</td><td>2,610</td><td></td><td>3,590</td></tr><tr><td>Commercial mortgage-backed securities</td><td>0</td><td>3,662</td><td>0</td><td></td><td>3,662</td></tr><tr><td>Residential mortgage-backed securities</td><td>0</td><td>2,644</td><td>4</td><td></td><td>2,648</td></tr><tr><td>Subtotal</td><td>0</td><td>39,533</td><td>2,998</td><td></td><td>42,531</td></tr><tr><td>Trading account assets supporting insurance liabilities</td><td>0</td><td>0</td><td>0</td><td></td><td>0</td></tr><tr><td>Other trading account assets:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. Treasury securities and obligations of U.S. government authorities and agencies</td><td>0</td><td>0</td><td>0</td><td></td><td>0</td></tr><tr><td>Obligations of U.S. states and their political subdivisions</td><td>0</td><td>0</td><td>0</td><td></td><td>0</td></tr><tr><td>Foreign government bonds</td><td>0</td><td>0</td><td>0</td><td></td><td>0</td></tr><tr><td>Corporate securities</td><td>0</td><td>122</td><td>0</td><td></td><td>122</td></tr><tr><td>Asset-backed securities</td><td>0</td><td>27</td><td>13</td><td></td><td>40</td></tr><tr><td>Commercial mortgage-backed securities</td><td>0</td><td>0</td><td>0</td><td></td><td>0</td></tr><tr><td>Residential mortgage-backed securities</td><td>0</td><td>0</td><td>0</td><td></td><td>0</td></tr><tr><td>Equity securities</td><td>5</td><td>0</td><td>0</td><td></td><td>5</td></tr><tr><td>All other</td><td>0</td><td>0</td><td>0</td><td></td><td>0</td></tr><tr><td>Subtotal</td><td>5</td><td>149</td><td>13</td><td></td><td>167</td></tr><tr><td>Equity securities, available for sale</td><td>2,901</td><td>158</td><td>26</td><td></td><td>3,085</td></tr><tr><td>Commercial mortgage and other loans</td><td>0</td><td>0</td><td>0</td><td></td><td>0</td></tr><tr><td>Other long-term investments</td><td>0</td><td>61</td><td>0</td><td></td><td>61</td></tr><tr><td>Short-term investments</td><td>1,017</td><td>321</td><td>0</td><td></td><td>1,338</td></tr><tr><td>Cash equivalents</td><td>169</td><td>529</td><td>0</td><td></td><td>698</td></tr><tr><td>Other assets</td><td>0</td><td>114</td><td>11</td><td></td><td>125</td></tr><tr><td>Subtotal excluding separate account assets</td><td>4,092</td><td>40,865</td><td>3,048</td><td></td><td>48,005</td></tr><tr><td>Separate account assets-4</td><td>0</td><td>0</td><td>0</td><td></td><td>0</td></tr><tr><td>Total assets</td><td>$4,092</td><td>$40,865</td><td>$3,048</td><td></td><td>$$48,005</td></tr><tr><td>Future policy benefits</td><td>$0</td><td>$0</td><td>$0</td><td></td><td>$$0</td></tr><tr><td>Long-term debt</td><td>0</td><td>0</td><td>0</td><td></td><td>0</td></tr><tr><td>Other liabilities</td><td>0</td><td>0</td><td>0</td><td></td><td>0</td></tr><tr><td>Total liabilities</td><td>$0</td><td>$0</td><td>$0</td><td></td><td>$$0</td></tr></table>

Question: If interest cost develops with the same increasing rate in 2008, what will it reach in 2009? (in million)