ABIOMED, INC.  AND SUBSIDIARIES Notes to Consolidated Financial Statements—(Continued) Note 8.
Stock Award Plans and Stock Based Compensation Stock Option Plans The Company grants stock options and restricted stock awards to employees and others.
Virtually all outstanding stock options of the Company as of March 31, 2011 were granted with an exercise price equal to the fair market value on the date of grant.
For all options and restricted stock granted below fair market value, compensation expense is recognized ratably over the vesting period.
Outstanding stock options, if not exercised, expire 10 years from the date of grant.
The Company’s 2008 Stock Incentive Plan (the “Plan”) authorizes the grant of a variety of equity awards to the Company’s officers, directors, employees, consultants and advisers, including awards of unrestricted and restricted stock, incentive and nonqualified stock options to purchase shares of common stock, performance share awards and stock appreciation rights.
The Plan provides that options may only be granted at the current market value on the date of grant.
The maximum number of shares of the Company’s common stock issuable under the Plan is equal to 5,508,688 shares, which included 308,688 shares that remained available for future awards as of August 12, 2008 under the Company’s 1989 Non-Qualified Stock Option Plan for Non-Employee Directors, the 1998 Equity Incentive Plan and 2000 Stock Incentive Plan.
Each share of stock issued pursuant to a stock option or stock appreciation right counts as one share against the maximum number of shares issuable under the Plan, while each share of stock issued pursuant to any other type of award counts as 1.58 shares against the maximum number of shares issuable under the Plan for grants made on or after August 11, 2010 (and as 1.5 shares for grants made prior to that date).
At March 31, 2011, a total of 1,516,500 shares were available for future issuance under the Plan.
Total stock-based compensation recognized in the Company’s consolidated statements of operations for the fiscal years ended March 31, 2011, 2010, and 2009, were as follows:
## Table 0 ##
The stock-based compensation expense for the year ended March 31, 2011 includes $3.8 million related to stock options and $1.6 million related to performance-based restricted stock, as described below.
The stock-based compensation expense for the year ended March 31, 2010 includes $5.5 million related to stock options and a reversal of $0.1 million related to performance-based restricted stock and the Company’s Employee Stock Purchase Plan (“ESPP”).
The stock-based compensation expense for the year ended March 31, 2009 includes $4.8 million related to stock options and $4.0 million related to restricted stock and the Company’s ESPP.
The remaining unrecognized stock-based compensation expense for unvested stock option awards at March 31, 2011 was approximately $5.7 million, net of forfeitures, and the weighted-average period over which this cost will be recognized is 1.7 years.
Benefits of tax deductions in excess of recognized compensation cost are reported as a financing cash flow, rather than as an operating cash flow.
The tables below present commercial real estate credit quality data by non-homebuilder and homebuilder property types.
The homebuilder portfolio includes condominiums and other residential real estate.
## Table 1 ##
(1) Includes commercial foreclosed properties of $725 million and $777 million at December 31, 2010 and 2009.
(2) Utilized reservable criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities.
This includes loans, excluding those accounted for under the fair value option, SBLCs and bankers’ acceptances.
(3) Represents loans to borrowers whose primary business is commercial real estate, but the exposure is not secured by the listed property types or is unsecured.
## Table 2 ##
(1) Net charge-off ratios are calculated as net charge-offs divided by average outstanding loans excluding loans accounted for under the fair value option.
(2) Represents loans to borrowers whose primary business is commercial real estate, but the exposure is not secured by the listed property types or is unsecured.
At December 31, 2010, we had total committed non-homebuilder exposure of $64.2 billion compared to $84.4 billion at December 31, 2009, with the decrease due to the sale of First Republic, repayments and net chargeoffs.
Non-homebuilder nonper forming loans and foreclosed properties were $4.6 billion, or 10.08 percent of total non-homebuilder loans and foreclosed properties at December 31, 2010 compared to $4.8 billion, or 7.73 percent, at December 31, 2009.
Non-homebuilder utilized reservable criticized exposure decreased to $17.1 billion, or 35.55 percent, at December 31, 2010 compared to $18.1 billion, or 27.27 percent, at December 31, 2009.
The decrease in criticized exposure was primarily in the retail and unsecured segments, with the ratio increasing due to declining loan balances.
For the non-homebuilder portfolio, net charge-offs increased $187 million for 2010 compared to 2009.
The changes were concentrated in land development and retail.
At December 31, 2010, we had committed homebuilder exposure of $6.0 billion compared to $10.4 billion at December 31, 2009 of which $4.3 billion and $7.3 billion were funded secured loans.
The decline in homebuilder committed exposure was due to repayments, net charge-offs, reductions in new home construction and continued risk mitigation initiatives.
At December 31, 2010, homebuilder nonper forming loans and foreclosed properties declined $1.3 billion due to repayments, net charge-offs, fewer risk rating downgrades and a slowdown in the rate of home price declines compared to December 31, 2009.
Homebuilder utilized reservable criticized exposure decreased by $2.3 billion to $3.4 billion due to repayments and net charge-offs.
The nonper forming loans, leases and foreclosed properties and the utilized reservable criticized ratios for the homebuilder portfolio were 42.80 percent and 74.27 percent at December 31, 2010 compared to 42.16 percent and 74.44 percent at December 31, 2009.
Net charge-offs for the homebuilder portfolio decreased $872 million in 2010 compared to 2009.
At December 31, 2010 and 2009, the commercial real estate loan portfolio included $19.1 billion and $27.4 billion of funded construction and land development loans that were originated to fund the construction and/or rehabilitation of commercial properties.
This portfolio is mostly secured and diversified across property types and geographies but faces significant challenges in the current housing and rental markets.
Weak rental
Entergy Corporation and Subsidiaries Notes to Financial Statements 171 Ouachita In September 2008, Entergy Arkansas purchased the Ouachita Plant, a 789 MW three-train gas-fired combined cycle generating turbine (CCGT) electric power plant located 20 miles south of the Arkansas state line near Sterlington, Louisiana, for approximately $210 million from a subsidiary of Cogentrix Energy, Inc.  Entergy Arkansas received the plant, materials and supplies, and related real estate in the transaction.
The FERC and the APSC approved the acquisition.
The APSC also approved the recovery of the acquisition and ownership costs through a rate rider and the planned sale of one-third of the capacity and energy to Entergy Gulf States Louisiana.
The LPSC also approved the purchase of one-third of the capacity and energy by Entergy Gulf States Louisiana, subject to certain conditions, including a study to determine the costs and benefits of Entergy Gulf States Louisiana exercising an option to purchase one-third of the plant (Unit 3) from Entergy Arkansas.
Entergy Gulf States Louisiana is scheduled to report the results of that study by March 30, 2009.
Palisades In April 2007, Entergy's Non-Utility Nuclear business purchased the 798 MW Palisades nuclear energy plant located near South Haven, Michigan from Consumers Energy Company for a net cash payment of $336 million.
Entergy received the plant, nuclear fuel, inventories, and other assets.
The liability to decommission the plant, as well as related decommissioning trust funds, was also transferred to Entergy's Non-Utility Nuclear business.
Entergy's Non-Utility Nuclear business executed a unit-contingent, 15-year purchased power agreement (PPA) with Consumers Energy for 100% of the plant's output, excluding any future uprates.
Prices under the PPA range from $43.50/MWh in 2007 to $61.50/MWh in 2022, and the average price under the PPA is $51/MWh.
In the first quarter 2007, the NRC renewed Palisades' operating license until 2031.
As part of the transaction, Entergy's NonUtility Nuclear business assumed responsibility for spent fuel at the decommissioned Big Rock Point nuclear plant, which is located near Charlevoix, Michigan.
Palisades' financial results since April 2007 are included in Entergy's Non-Utility Nuclear business segment.
The following table summarizes the assets acquired and liabilities assumed at the date of acquisition.
## Table 3 ##
Subsequent to the closing, Entergy received approximately $6 million from Consumers Energy Company as part of the Post-Closing Adjustment defined in the Asset Sale Agreement.
The Post-Closing Adjustment amount resulted in an approximately $6 million reduction in plant and a corresponding reduction in other liabilities.
For the PPA, which was at below-market prices at the time of the acquisition, Non-Utility Nuclear will amortize a liability to revenue over the life of the agreement.
The amount that will be amortized each period is based upon the difference between the present value calculated at the date of acquisition of each year's difference between revenue under the agreement and revenue based on estimated market prices.
Amounts amortized to revenue were $76
Operating income for this business segment decreased in fiscal 2012 compared to fiscal 2011 primarily due to the net gain of $84.5 million on the sale of Makena intellectual property to KV in the second quarter of fiscal 2011 compared to a net gain of $12.4 million recorded in the second quarter of fiscal 2012 for a scheduled payment received under the amended agreement.
The balance of the decrease in fiscal 2012 of $131.4 million was due to higher operating expenses partially offset by an increase in gross margin in absolute dollars.
While gross margin in absolute dollars increased, the gross margin rate declined to 50.5% in fiscal 2012 compared to 53.9% in fiscal 2011 as discussed above.
Operating expenses increased in fiscal 2012 primarily due to the inclusion of TCT for a full year, which included an increase in contingent consideration compensation expense of $58.0 million, the inclusion of $42.4 million of operating expenses for Gen-Probe (excluding restructuring charges and integration and retention costs), acquisition transaction and integration costs of approximately $42.0 million related to the Gen-Probe transaction, and restructuring charges of $14.8 million related to the consolidation of our Diagnostics business as a result of the Gen-Probe acquisition.
We also experienced higher expenses related to trade shows, higher compensation costs related to hiring additional personnel and annual salary increases, travel, and higher bad debt charges, primarily related to one international customer.

<table><tr><td></td><td colspan="3"> March 31,</td></tr><tr><td></td><td> 2011</td><td> 2010</td><td> 2009</td></tr><tr><td></td><td colspan="3"> (in $000’s)</td></tr><tr><td>Cost of product revenue</td><td>$214</td><td>$452</td><td>$377</td></tr><tr><td>Research and development</td><td>1,001</td><td>744</td><td>1,808</td></tr><tr><td>Selling, general and administrative</td><td>4,206</td><td>4,169</td><td>6,649</td></tr><tr><td></td><td>$5,421</td><td>$5,365</td><td>$8,834</td></tr></table>
<table><tr><td></td><td></td><td colspan="3"> December 31</td></tr><tr><td></td><td colspan="2"> Nonperforming   Loans and   Foreclosed   Properties<sup>-1</sup></td><td colspan="2"> Utilized Reservable   Criticized Exposure<sup>-2</sup></td></tr><tr><td>(Dollars in millions)</td><td> 2010</td><td>2009</td><td> 2010</td><td>2009</td></tr><tr><td> Commercial real estate – non-homebuilder</td><td></td><td></td><td></td><td></td></tr><tr><td>Office</td><td>$1,061</td><td>$729</td><td>$3,956</td><td>$3,822</td></tr><tr><td>Multi-family rental</td><td>500</td><td>546</td><td>2,940</td><td>2,496</td></tr><tr><td>Shopping centers/retail</td><td>1,000</td><td>1,157</td><td>2,837</td><td>3,469</td></tr><tr><td>Industrial/warehouse</td><td>420</td><td>442</td><td>1,878</td><td>1,757</td></tr><tr><td>Multi-use</td><td>483</td><td>416</td><td>1,316</td><td>1,578</td></tr><tr><td>Hotels/motels</td><td>139</td><td>160</td><td>1,191</td><td>1,140</td></tr><tr><td>Land and land development</td><td>820</td><td>968</td><td>1,420</td><td>1,657</td></tr><tr><td>Other<sup>-3</sup></td><td>168</td><td>417</td><td>1,604</td><td>2,210</td></tr><tr><td> Total non-homebuilder</td><td>4,591</td><td>4,835</td><td>17,142</td><td>18,129</td></tr><tr><td> Commercial real estate – homebuilder</td><td>1,963</td><td>3,228</td><td>3,376</td><td>5,675</td></tr><tr><td> Total commercial real estate</td><td>$6,554</td><td>$8,063</td><td>$20,518</td><td>$23,804</td></tr></table>
<table><tr><td></td><td colspan="2"> Net Charge-offs</td><td colspan="2"> Net Charge-off Ratios<sup>-1</sup></td></tr><tr><td>(Dollars in millions)</td><td> 2010</td><td>2009</td><td>2010</td><td>2009</td></tr><tr><td> Commercial real estate – non-homebuilder</td><td></td><td></td><td></td><td></td></tr><tr><td>Office</td><td>$273</td><td>$249</td><td>2.49%</td><td>2.01%</td></tr><tr><td>Multi-family rental</td><td>116</td><td>217</td><td>1.21</td><td>1.96</td></tr><tr><td>Shopping centers/retail</td><td>318</td><td>239</td><td>3.56</td><td>2.30</td></tr><tr><td>Industrial/warehouse</td><td>59</td><td>82</td><td>1.07</td><td>1.34</td></tr><tr><td>Multi-use</td><td>143</td><td>146</td><td>2.92</td><td>2.58</td></tr><tr><td>Hotels/motels</td><td>45</td><td>5</td><td>1.02</td><td>0.08</td></tr><tr><td>Land and land development</td><td>377</td><td>286</td><td>13.04</td><td>8.00</td></tr><tr><td>Other<sup>-2</sup></td><td>220</td><td>140</td><td>3.14</td><td>1.72</td></tr><tr><td> Total non-homebuilder</td><td>1,551</td><td>1,364</td><td>2.86</td><td>2.13</td></tr><tr><td> Commercial real estate – homebuilder</td><td>466</td><td>1,338</td><td>8.26</td><td>14.41</td></tr><tr><td> Total commercial real estate</td><td>$2,017</td><td>$2,702</td><td>3.37</td><td>3.69</td></tr></table>
<table><tr><td></td><td>Amount (In Millions)</td></tr><tr><td>Plant (including nuclear fuel)</td><td>$727</td></tr><tr><td>Decommissioning trust funds</td><td>252</td></tr><tr><td>Other assets</td><td>41</td></tr><tr><td>Total assets acquired</td><td>1,020</td></tr><tr><td>Purchased power agreement (below market)</td><td>420</td></tr><tr><td>Decommissioning liability</td><td>220</td></tr><tr><td>Other liabilities</td><td>44</td></tr><tr><td>Total liabilities assumed</td><td>684</td></tr><tr><td>Net assets acquired</td><td>$336</td></tr></table>

Question: In what year is Office greater than1for Net Charge-offs?
Answer: 2009 2010