Notes to consolidated financial statements 170 JPMorgan Chase & Co. /2016 Annual Report Determination of instrument-specific credit risk for items for which a fair value election was made The following describes how the gains and losses that are attributable to changes in instrument-specific credit risk, were determined.  ?
Loans and lending-related commitments: For floatingrate instruments, all changes in value are attributed to instrument-specific credit risk.
For fixed-rate instruments, an allocation of the changes in value for the period is made between those changes in value that are interest rate-related and changes in value that are credit-related.
Allocations are generally based on an analysis of borrower-specific credit spread and recovery information, where available, or benchmarking to similar entities or industries.  ?
Long-term debt: Changes in value attributable to instrument-specific credit risk were derived principally from observable changes in the Firm’s credit spread.  ?
Resale and repurchase agreements, securities borrowed agreements and securities lending agreements: Generally, for these types of agreements, there is a requirement that collateral be maintained with a market value equal to or in excess of the principal amount loaned; as a result, there would be no adjustment or an immaterial adjustment for instrument-specific credit risk related to these agreements.
Difference between aggregate fair value and aggregate remaining contractual principal balance outstanding The following table reflects the difference between the aggregate fair value and the aggregate remaining contractual principal balance outstanding as of December 31, 2016 and 2015, for loans, long-term debt and long-term beneficial interests for which the fair value option has been elected.
## Table 0 ##
(a) There were no performing loans that were ninety days or more past due as of December 31, 2016 and 2015, respectively.
(b) Remaining contractual principal is not applicable to nonprincipal-protected notes.
Unlike principal-protected structured notes, for which the Firm is obligated to return a stated amount of principal at the maturity of the note, nonprincipal-protected structured notes do not obligate the Firm to return a stated amount of principal at maturity, but to return an amount based on the performance of an underlying variable or derivative feature embedded in the note.
However, investors are exposed to the credit risk of the Firm as issuer for both nonprincipal-protected and principal protected notes.
(c) Where the Firm issues principal-protected zero-coupon or discount notes, the balance reflects the contractual principal payment at maturity or, if applicable, the contractual principal payment at the Firm’s next call date.
At December 31, 2016 and 2015, the contractual amount of lending-related commitments for which the fair value option was elected was $4.6 billion for both years, with a corresponding fair value of $(118) million and $(94) million, respectively.
For further information regarding off-balance sheet lending-related financial instruments, see Note 29.
Gross unrealized losses The Firm has recognized unrealized losses on securities it intends to sell as OTTI.
The Firm does not intend to sell any of the remaining securities with an unrealized loss in AOCI as of December 31, 2016, and it is not likely that the Firm will be required to sell these securities before recovery of their amortized cost basis.
Except for the securities for which credit losses have been recognized in income, the Firm believes that the securities with an unrealized loss in AOCI are not other-than-temporarily impaired as of December 31, 2016.
Other-than-temporary impairment AFS debt and equity securities and HTM debt securities in unrealized loss positions are analyzed as part of the Firm’s ongoing assessment of OTTI.
For most types of debt securities, the Firm considers a decline in fair value to be other-than-temporary when the Firm does not expect to recover the entire amortized cost basis of the security.
For beneficial interests in securitizations that are rated below “AA” at their acquisition, or that can be contractually prepaid or otherwise settled in such a way that the Firm would not recover substantially all of its recorded investment, the Firm considers an impairment to be otherthan-temporary when there is an adverse change in expected cash flows.
For AFS equity securities, the Firm considers a decline in fair value to be other-than-temporary if it is probable that the Firm will not recover its cost basis.
Potential OTTI is considered using a variety of factors, including the length of time and extent to which the market value has been less than cost; adverse conditions specifically related to the industry, geographic area or financial condition of the issuer or underlying collateral of a security; payment structure of the security; changes to the rating of the security by a rating agency; the volatility of the fair value changes; and the Firm’s intent and ability to hold the security until recovery.
For AFS debt securities, the Firm recognizes OTTI losses in earnings if the Firm has the intent to sell the debt security, or if it is more likely than not that the Firm will be required to sell the debt security before recovery of its amortized cost basis.
In these circumstances the impairment loss is equal to the full difference between the amortized cost basis and the fair value of the securities.
For debt securities in an unrealized loss position that the Firm has the intent and ability to hold, the expected cash flows to be received from the securities are evaluated to determine if a credit loss exists.
In the event of a credit loss, only the amount of impairment associated with the credit loss is recognized in income.
Amounts relating to factors other than credit losses are recorded in OCI.
The Firm’s cash flow evaluations take into account the factors noted above and expectations of relevant market and economic data as of the end of the reporting period.
For securities issued in a securitization, the Firm estimates cash flows considering underlying loan-level data and structural features of the securitization, such as subordination, excess spread, overcollateralization or other forms of credit enhancement, and compares the losses projected for the underlying collateral (“pool losses”) against the level of credit enhancement in the securitization structure to determine whether these features are sufficient to absorb the pool losses, or whether a credit loss exists.
The Firm also performs other analyses to support its cash flow projections, such as first-loss analyses or stress scenarios.
For equity securities, OTTI losses are recognized in earnings if the Firm intends to sell the security.
In other cases the Firm considers the relevant factors noted above, as well as the Firm’s intent and ability to retain its investment for a period of time sufficient to allow for any anticipated recovery in market value, and whether evidence exists to support a realizable value equal to or greater than the cost basis.
Any impairment loss on an equity security is equal to the full difference between the cost basis and the fair value of the security.
Securities gains and losses The following table presents realized gains and losses and OTTI from AFS securities that were recognized in income.
## Table 1 ##
(a) Excludes realized losses on securities sold of $24 million, $5 million and $3 million for the years ended December 31, 2016, 2015 and 2014, respectively that had been previously reported as an OTTI loss due to the intention to sell the securities.
Changes in the credit loss component of credit-impaired debt securities The cumulative credit loss component, including any changes therein, of OTTI losses that have been recognized in income related to AFS debt securities was not material as of and during the years ended December 31, 2016, 2015 and 2014.
FIVE-YEAR STOCK PERFORMANCE The following table and graph compare the five-year cumulative total return for JPMorgan Chase & Co.  (“JPMorgan Chase” or the “Firm”) common stock with the cumulative return of the S&P 500 Index, the KBW Bank Index and the S&P Financial Index.
The S&P 500 Index is a commonly referenced United States of America (“U.
S. ”) equity benchmark consisting of leading companies from different economic sectors.
The KBW Bank Index seeks to reflect the performance of banks and thrifts that are publicly traded in the U. S.  and is composed of leading national money center and regional banks and thrifts.
The S&P Financial Index is an index of financial companies, all of which are components of the S&P 500.
The Firm is a component of all three industry indices.
The following table and graph assume simultaneous investments of $100 on December 31, 2011, in JPMorgan Chase common stock and in each of the above indices.
The comparison assumes that all dividends are reinvested.
## Table 2 ##

<table><tr><td></td><td colspan="4">2016</td><td colspan="4">2015</td></tr><tr><td>December 31, (in millions)</td><td>Contractual principal outstanding</td><td></td><td>Fair value</td><td>Fair value over/(under) contractual principal outstanding</td><td>Contractual principal outstanding</td><td></td><td>Fair value</td><td>Fair value over/(under) contractual principal outstanding</td></tr><tr><td>Loans<sup>(a)</sup></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Nonaccrual loans</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans reported as trading assets</td><td>$3,338</td><td></td><td>$748</td><td>$-2,590</td><td>$3,484</td><td></td><td>$631</td><td>$-2,853</td></tr><tr><td>Loans</td><td>—</td><td></td><td>—</td><td>—</td><td>7</td><td></td><td>7</td><td>—</td></tr><tr><td>Subtotal</td><td>3,338</td><td></td><td>748</td><td>-2,590</td><td>3,491</td><td></td><td>638</td><td>-2,853</td></tr><tr><td>All other performing loans</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Loans reported as trading assets</td><td>35,477</td><td></td><td>33,054</td><td>-2,423</td><td>30,780</td><td></td><td>28,184</td><td>-2,596</td></tr><tr><td>Loans</td><td>2,259</td><td></td><td>2,228</td><td>-31</td><td>2,771</td><td></td><td>2,752</td><td>-19</td></tr><tr><td>Total loans</td><td>$41,074</td><td></td><td>$36,030</td><td>$-5,044</td><td>$37,042</td><td></td><td>$31,574</td><td>$-5,468</td></tr><tr><td>Long-term debt</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Principal-protected debt</td><td>$21,602</td><td><sup>(c)</sup></td><td>$19,195</td><td>$-2,407</td><td>$17,910</td><td><sup>(c)</sup></td><td>$16,611</td><td>$-1,299</td></tr><tr><td>Nonprincipal-protected debt<sup>(b)</sup></td><td>NA</td><td></td><td>18,491</td><td>NA</td><td>NA</td><td></td><td>16,454</td><td>NA</td></tr><tr><td>Total long-term debt</td><td>NA</td><td></td><td>$37,686</td><td>NA</td><td>NA</td><td></td><td>$33,065</td><td>NA</td></tr><tr><td>Long-term beneficial interests</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Nonprincipal-protected debt</td><td>NA</td><td></td><td>$120</td><td>NA</td><td>NA</td><td></td><td>$787</td><td>NA</td></tr><tr><td>Total long-term beneficial interests</td><td>NA</td><td></td><td>$120</td><td>NA</td><td>NA</td><td></td><td>$787</td><td>NA</td></tr></table>
<table><tr><td>Year ended December 31,(in millions)</td><td>2016</td><td>2015</td><td>2014</td></tr><tr><td>Realized gains</td><td>$401</td><td>$351</td><td>$314</td></tr><tr><td>Realized losses</td><td>-232</td><td>-127</td><td>-233</td></tr><tr><td>OTTI losses</td><td>-28</td><td>-22</td><td>-4</td></tr><tr><td>Net securities gains</td><td>141</td><td>202</td><td>77</td></tr><tr><td>OTTI losses</td><td></td><td></td><td></td></tr><tr><td>Credit losses recognized in income</td><td>-1</td><td>-1</td><td>-2</td></tr><tr><td>Securities the Firm intends to sell<sup>(a)</sup></td><td>-27</td><td>-21</td><td>-2</td></tr><tr><td>Total OTTI losses recognized in income</td><td>$-28</td><td>$-22</td><td>$-4</td></tr></table>
<table><tr><td>December 31,(in dollars)</td><td>2011</td><td>2012</td><td>2013</td><td>2014</td><td>2015</td><td>2016</td></tr><tr><td>JPMorgan Chase</td><td>$100.00</td><td>$136.18</td><td>$186.17</td><td>$204.57</td><td>$221.68</td><td>$298.31</td></tr><tr><td>KBW Bank Index</td><td>100.00</td><td>133.03</td><td>183.26</td><td>200.42</td><td>201.40</td><td>258.82</td></tr><tr><td>S&P Financial Index</td><td>100.00</td><td>128.75</td><td>174.57</td><td>201.06</td><td>197.92</td><td>242.94</td></tr><tr><td>S&P 500 Index</td><td>100.00</td><td>115.99</td><td>153.55</td><td>174.55</td><td>176.95</td><td>198.10</td></tr></table>

Question: What was the sum of Contractual principal outstanding without those Contractual principal outstanding greater than 4000, in 2016? (in million)
Answer: 5597.0