Table of Contents The following table presents certain payments due by the Company under contractual obligations with minimum firm commitments as of September 28, 2013 and excludes amounts already recorded on the Consolidated Balance Sheet, except for long-term debt (in millions)
## Table 0 ##
Lease Commitments The Company’s major facility leases are typically for terms not exceeding 10 years and generally provide renewal options for terms not exceeding five additional years.
Leases for retail space are for terms ranging from five to 20 years, the majority of which are for 10 years, and often contain multi-year renewal options.
As of September 28, 2013, the Company’s total future minimum lease payments under noncancelable operating leases were $4.7 billion, of which $3.5 billion related to leases for retail space.
Purchase Commitments with Outsourcing Partners and Component Suppliers The Company utilizes several outsourcing partners to manufacture sub-assemblies for the Company’s products and to perform final assembly and testing of finished products.
These outsourcing partners acquire components and build product based on demand information supplied by the Company, which typically covers periods up to 150 days.
The Company also obtains individual components for its products from a wide variety of individual suppliers.
Consistent with industry practice, the Company acquires components through a combination of purchase orders, supplier contracts, and open orders based on projected demand information.
Where appropriate, the purchases are applied to inventory component prepayments that are outstanding with the respective supplier.
As of September 28, 2013, the Company had outstanding off-balance sheet thirdparty manufacturing commitments and component purchase commitments of $18.6 billion.
Other Obligations In addition to the off-balance sheet commitments mentioned above, the Company had outstanding obligations of $1.3 billion as of September 28, 2013, that consisted mainly of commitments to acquire capital assets, including product tooling and manufacturing process equipment, and commitments related to advertising, research and development, Internet and telecommunications services and other obligations.
The Company’s other non-current liabilities in the Consolidated Balance Sheets consist primarily of deferred tax liabilities, gross unrecognized tax benefits and the related gross interest and penalties.
As of September 28, 2013, the Company had non-current deferred tax liabilities of $16.5 billion.
Additionally, as of September 28, 2013, the Company had gross unrecognized tax benefits of $2.7 billion and an additional $590 million for gross interest and penalties classified as non-current liabilities.
At this time, the Company is unable to make a reasonably reliable estimate of the timing of payments in individual years in connection with these tax liabilities; therefore, such amounts are not included in the above contractual obligation table.
Indemnification The Company generally does not indemnify end-users of its operating system and application software against legal claims that the software infringes third-party intellectual property rights.
Other agreements entered into by
Common Stock Dividends The table below is a summary of our declared quarterly cash dividends on common stock during 2010 and through February 25, 2011.
## Table 1 ##
Preferred Stock Issuances and Exchanges In 2009, we completed an offer to exchange outstanding depositary shares of portions of certain series of preferred stock up to approximately 200 million shares of common stock at an average price of $12.70 per share.
In addition, we also entered into agreements with certain holders of other non-government perpetual preferred shares to exchange their holdings of approximately $10.9 billion aggregate liquidation preference of perpetual preferred stock into approximately 800 million shares of common stock.
In total, the exchange offer and these privately negotiated exchanges covered the exchange of $14.8 billion aggregate liquidation preference of perpetual preferred stock into 1.0 billion shares of common stock.
In 2009, we recorded an increase to retained earnings and net income applicable to common shareholders of $576 million related to these exchanges.
This represents the net of a $2.6 billion benefit due to the excess of the carrying value of our nonconvertible preferred stock over the fair value of the common stock exchanged.
This was partially offset by a $2.0 billion inducement to convertible preferred shareholders representing the excess of the fair value of the common stock exchanged, which was accounted for as an induced conversion of convertible preferred stock, over the fair value of the common stock that would have been issued under the original conversion terms.
On December 2, 2009, we received approval from the U. S.  Treasury and Federal Reserve to repay the U. S.  government’s $45.0 billion preferred stock investment provided under TARP.
In accordance with the approval, on December 9, 2009, we repurchased all outstanding shares of Cumulative Perpetual Preferred Stock Series N, Series Q and Series R issued to the U. S.  Treasury as part of the TARP.
While participating in the TARP we recorded $7.4 billion in dividends and accretion on the TARP Preferred Stock and repayment saved us approximately $3.6 billion in annual dividends and accretion.
We did not repurchase the related common stock warrants issued to the U. S.  Treasury in connection with its TARP investment.
The U. S.  Treasury auctioned these warrants in March 2010.
For more detail on the TARP Preferred Stock, refer to Note 15 – Shareholders’ Equity to the Consolidated Financial Statements.
We repurchased the TARP Preferred Stock through the use of $25.7 billion in excess liquidity and $19.3 billion in proceeds from the sale of 1.3 billion units of CES valued at $15.00 per unit.
The CES consisted of depositary shares representing interests in shares of Common Equivalent Junior Preferred Stock Series S (Common Equivalent Stock) and warrants (Contingent Warrants) to purchase an aggregate 60 million shares of the Corporation’s common stock.
Each depositary share represented a 1/1,000th interest in a share of Common Equivalent Stock and each Contingent Warrant granted the holder the right to purchase 0.0467 of a share of a common stock for $0.01 per share.
Each depositary share entitled the holder, through the depository, to a proportional fractional interest in all rights and preferences of the Common Equivalent Stock, including conversion, dividend, liquidation and voting rights.
The Corporation held a special meeting of stockholders on February 23, 2010 at which we obtained stockholder approval of an amendment to our amended and restated certificate of incorporation to increase the number of authorized shares of our common stock.
Following effectiveness of the amendment, on February 24, 2010, the Common Equivalent Stock converted in full into our common stock and the Contingent Warrants automatically expired without becoming exercisable, and the CES ceased to exist.
On October 15, 2010, all of the outstanding shares of the mandatory convertible Preferred Stock, Series 2 and Series 3, of Merrill Lynch automatically converted into an aggregate of 50 million shares of the Corporation’s Common Stock in accordance with the terms of these preferred securities.
For more information on cash dividends declared on preferred stock, see Table III.
Enterprise-wide Stress Testing As a part of our core risk management practices, we conduct enterprise-wide stress tests on a periodic basis to better understand earnings, capital and liquidity sensitivities to certain economic and business scenarios, including economic and market conditions that are more severe than anticipated.
These enterprise-wide stress tests provide an understanding of the potential impacts from our risk profile to earnings, capital and liquidity, and serve as a key component of our capital management practices.
Scenarios are selected by a group comprised of senior line of business, risk and finance executives.
Impacts to each line of business from each scenario are then determined and analyzed, primarily leveraging the models and processes utilized in everyday management routines.
Impacts are assessed along with potential mitigating actions that may be taken.
Analysis from such stress scenarios is compiled for and reviewed through our Risk Oversight Committee (ROC), Asset Liability Market Risk Committee (ALMRC) and the Board’s Enterprise Risk Committee, and serves to inform and be incorporated, along with other core business processes, into decision-making by management and the Board.
We have made substantial investments to establish stress testing capabilities as a core business process.
Liquidity Risk Funding and Liquidity Risk Management We define liquidity risk as the potential inability to meet our contractual and contingent financial obligations, on- or off-balance sheet, as they come due.
Our primary liquidity objective is to ensure adequate funding for our businesses throughout market cycles, including periods of financial stress.
To achieve that objective, we analyze and monitor our liquidity risk, maintain excess liquidity and access diverse funding sources including our stable deposit base.
We define excess liquidity as readily available assets, limited to cash and high-quality, liquid, unencumbered securities that we can use to meet our funding requirements as those obligations arise.
Global funding and liquidity risk management activities are centralized within Corporate Treasury.
We believe that a centralized approach to funding and liquidity risk management enhances our ability to monitor liquidity requirements, maximizes access to funding sources, minimizes borrowing costs and facilitates timely responses to liquidity events.
The Enterprise Risk Committee approves the Corporation’s liquidity policy and contingency funding plan, including establishing liquidity risk tolerance levels.
The ALMRC, in conjunction with the Board and its committees, monitors our liquidity position and reviews the impact of strategic decisions on our liquidity.
ALMRC is responsible for managing liquidity risks and ensuring exposures remain within the established tolerance levels.
ALMRC delegates additional oversight responsibilities to the ROC, which reports to ALMRC.
The ROC reviews and monitors our liquidity position, cash flow forecasts, stress testing scenarios and results, and implements our liquidity limits and guidelines.
For more information, refer to Board Oversight of Risk beginning on page 65.
Under this governance framework, we have developed certain funding and liquidity risk management practices which include: maintaining excess
liquidity measure is the Net Stable Funding Ratio (NSFR) which measures the amount of longer-term, stable sources of funding employed by a financial institution relative to the liquidity profiles of the assets funded and the potential for contingent calls on funding liquidity arising from off-balance sheet commitments and obligations over a one-year period.
The Basel Committee expects the LCR to be implemented in January 2015 and the NSFR in January 2018, following observation periods beginning in 2012.
We continue to monitor the development and the potential impact of these evolving proposals and expect to be able to meet the final requirements.
Diversified Funding Sources We fund our assets primarily with a mix of deposits and secured and unsecured liabilities through a globally coordinated funding strategy.
We diversify our funding globally across products, programs, markets, currencies and investor bases.
We fund a substantial portion of our lending activities through our deposit base which was $1.0 trillion and $992 billion at December 31, 2010 and 2009.
Deposits are primarily generated by our Deposits, Global Commercial Banking, GWIM and GBAM segments.
These deposits are diversified by clients, product type and geography.
Certain of our U. S.  deposits are insured by the FDIC.
We consider a substantial portion of our deposits to be a stable, low-cost and consistent source of funding.
We believe this deposit funding is generally less sensitive to interest rate changes, market volatility or changes in our credit ratings than wholesale funding sources.
Certain consumer lending activities, primarily in our banking subsidiaries, may be funded through securitizations.
Included in these consumer lending activities are the extension of mortgage, credit card, auto loans, home equity loans and lines of credit.
If securitization markets are not available to us on favorable terms, we typically finance these loans with deposits or with wholesale borrowings.
For additional information on securitizations, see Note 8 – Securitizations and Other Variable Interest Entities to the Consolidated Financial Statements.
Our trading activities are primarily funded on a secured basis through securities lending and repurchase agreements; these amounts will vary based on customer activity and market conditions.
We believe funding these activities in the secured financing markets is more cost-efficient and less sensitive to changes in our credit ratings than unsecured financing.
Repurchase agreements are generally short-term and often overnight.
Disruptions in secured financing markets for financial institutions have occurred in prior market cycles which resulted in adverse changes in terms or significant reductions in the availability of such financing.
We manage the liquidity risks arising from secured funding by sourcing funding globally from a diverse group of counterparties, providing a range of securities collateral and pursuing longer durations, when appropriate.
Unsecured debt, both short- and long-term, is also an important source of funding.
We may issue unsecured debt through syndicated U. S.  registered offerings, U. S.  registered and unregistered medium-term note programs, non-U.
S.  medium-term note programs, non-U.
S.  private placements, U. S.  and non-U.
S.  commercial paper and through other methods.
We distribute a significant portion of our debt offerings through our retail and institutional sales forces to a large, diversified global investor base.
Maintaining relationships with our investors is an important aspect of our funding strategy.
We may, from time to time, purchase outstanding Bank of America Corporation debt securities in various transactions, depending upon prevailing market conditions, liquidity and other factors.
In addition, we may also make markets in our debt instruments to provide liquidity for investors.
In addition, our parent company, bank and broker-dealer subsidiaries regularly access short-term secured and unsecured markets through federal funds purchased, commercial paper and other short-term borrowings to support customer activities, short-term financing requirements and cash management.
At December 31, 2010, commercial paper and other short-term borrowings included $6.7 billion of VIEs that were consolidated in accordance with new consolidation guidance effective January 1, 2010.
For average and yearend balance discussions, see Balance Sheet Overview beginning on page 33.
For more information, see Note 12 – Federal Funds Sold, Securities Borrowed or Purchased Under Agreements to Resell and Short-term Borrowings to the Consolidated Financial Statements.
We issue the majority of our long-term unsecured debt at the parent company and Bank of America, N. A.
During 2010, the parent company and Bank of America, N. A.  issued $28.8 billion and $3.5 billion of long-term senior unsecured debt.
We issue long-term unsecured debt in a variety of maturities and currencies to achieve cost-efficient funding and to maintain an appropriate maturity profile.
While the cost and availability of unsecured funding may be negatively impacted by general market conditions or by matters specific to the financial services industry or the Corporation, we seek to mitigate refinancing risk by actively managing the amount of our borrowings that we anticipate will mature within any month or quarter.
The primary benefits of our centralized funding strategy include greater control, reduced funding costs, wider name recognition by investors and greater flexibility to meet the variable funding requirements of subsidiaries.
Where regulations, time zone differences or other business considerations make parent company funding impractical, certain other subsidiaries may issue their own debt.
At December 31, 2010 and 2009, our long-term debt was in the currencies presented in the table below.
## Table 2 ##
At December 31, 2010, the above table includes $71.0 billion of primarily U. S.  Dollar long-term debt of VIEs that were consolidated in accordance with new consolidation guidance effective January 1, 2010.
We use derivative transactions to manage the duration, interest rate and currency risks of our borrowings, considering the characteristics of the assets they are funding.
For further details on our ALM activities, refer to Interest Rate Risk Management for Nontrading Activities beginning on page 107.
We also diversify our funding sources by issuing various types of debt instruments including structured notes, which are debt obligations that pay investors with returns linked to other debt or equity securities, indices, currencies or commodities.
We typically hedge the returns we are obligated to pay on these notes with derivative positions and/or in the underlying instruments so that from a funding perspective, the cost is similar to our other unsecured long-term debt.
We could be required to immediately settle certain structured note obligations for cash or other securities under certain circumstances, which we consider for liquidity planning purposes.
We believe, however, that a portion of such borrowings will remain outstanding beyond the
The table below presents our accruing consumer loans past due 90 days or more and our consumer nonper forming loans.
Nonper forming loans do not include past due consumer credit card loans, consumer non-real estatesecured loans or unsecured consumer loans as these loans are generally charged off no later than the end of the month in which the loan becomes 180 days past due.
Real estate-secured past due consumer loans insured by the FHA are reported as accruing as opposed to nonper forming since the principal repayment is insured by the FHA.
FHA insured loans accruing past due 90 days or more are primarily related to our purchases of delinquent loans pursuant to our servicing agreements with GNMA.
Additionally, nonper forming loans and accruing balances past due 90 days or more do not include the Countrywide PCI loans even though the customer may be contractually past due.
## Table 3 ##
(1) Balances reflect the impact of new consolidation guidance.
(2) Our policy is to classify consumer real estate-secured loans as nonper forming at 90 days past due, except Countrywide PCI loans and FHA loans as referenced in footnote (3).
(3) At December 31, 2010 and 2009, balances accruing past due 90 days or more represent loans insured by the FHA.
These balances include $8.3 billion and $2.2 billion of loans that are no longer accruing interest or interest has been curtailed by the FHA although principal is still insured and $8.5 billion and $9.5 billion of loans that were still accruing interest.
Our policy is to classify delinquent consumer loans secured by real estate and insured by the FHA as accruing past due 90 days or more.
n/a = not applicable Accruing consumer loans and leases past due 90 days or more as a percentage of outstanding consumer loans and leases were 3.38 percent (0.90 percent excluding the Countrywide PCI and FHA insured loan portfolios) and 2.74 percent (0.79 percent excluding the Countrywide PCI and FHA insured loan portfolios) at December 31, 2010 and 2009.
Nonper forming consumer loans as a percentage of outstanding consumer loans were 3.24 percent (3.76 percent excluding the Countrywide PCI and FHA insured loan portfolios) and 3.61 percent (3.95 percent excluding the Countrywide PCI and FHA insured loan portfolios) at December 31, 2010 and 2009.
The table below presents net charge-offs and related ratios for our consumer loans and leases for 2010 and 2009 (managed basis for 2009).
## Table 4 ##
(1) Net charge-off and net loss ratios are calculated as held net charge-offs or managed net losses divided by average outstanding held or managed loans and leases.
(2) Net charge-off ratios excluding the Countrywide PCI and FHA insured loan portfolio were 1.79 percent and 1.83 percent for residential mortgage, 5.10 percent and 5.00 percent for home equity, 4.20 percent and 5.57 percent for discontinued real estate and 5.02 percent and 4.53 percent for the total held portfolio for 2010 and 2009.
These are the only product classifications materially impacted by the Countrywide PCI loan portfolio for 2010 and 2009.
For all loan and lease categories, the net charge-offs were unchanged.
n/a = not applicable We believe that the presentation of information adjusted to exclude the impact of the Countrywide PCI and FHA insured loan portfolios is more representative of the ongoing operations and credit quality of the business.
As a result, in the following discussions of the residential mortgage, home equity and discontinued real estate portfolios, we provide information that is adjusted to exclude the impact of the Countrywide PCI and FHA insured loan portfolios.
In addition, beginning on page 82, we separately disclose information on the Countrywide PCI loan portfolio.

<table><tr><td></td><td>Payments Due in Less  Than1 Year</td><td>Payments Due in  1-3  Years</td><td>Payments  Due in  4-5  Years</td><td>Payments Due in More  Than5 Years</td><td>Total</td></tr><tr><td>Long-term debt</td><td>$0</td><td>$2,500</td><td>$6,000</td><td>$8,500</td><td>$17,000</td></tr><tr><td>Operating leases</td><td>610</td><td>1,200</td><td>1,056</td><td>1,855</td><td>4,721</td></tr><tr><td>Purchase obligations</td><td>18,616</td><td>0</td><td>0</td><td>0</td><td>18,616</td></tr><tr><td>Other obligations</td><td>1,081</td><td>248</td><td>16</td><td>3</td><td>1,348</td></tr><tr><td>Total</td><td>$20,307</td><td>$3,948</td><td>$7,072</td><td>$10,358</td><td>$41,685</td></tr></table>
<table><tr><td></td><td></td><td></td><td>Dividend </td></tr><tr><td> Declaration Date</td><td> Record Date</td><td> Payment Date</td><td>Per Share</td></tr><tr><td>January 26, 2011</td><td>March 4, 2011</td><td>March 25, 2011</td><td>$0.01</td></tr><tr><td>October 25, 2010</td><td>December 3, 2010</td><td>December 24, 2010</td><td>0.01</td></tr><tr><td>July 28, 2010</td><td>September 3, 2010</td><td>September 24, 2010</td><td>0.01</td></tr><tr><td>April 28, 2010</td><td>June 4, 2010</td><td>June 25, 2010</td><td>0.01</td></tr><tr><td>January 27, 2010</td><td>March 5, 2010</td><td>March 26, 2010</td><td>0.01</td></tr></table>
<table><tr><td></td><td colspan="2"> December 31</td></tr><tr><td>(Dollars in millions)</td><td> 2010</td><td>2009</td></tr><tr><td>U.S. Dollar</td><td>$302,487</td><td>$281,692</td></tr><tr><td>Euros</td><td>87,482</td><td>99,917</td></tr><tr><td>Japanese Yen</td><td>19,901</td><td>19,903</td></tr><tr><td>British Pound</td><td>16,505</td><td>16,460</td></tr><tr><td>Australian Dollar</td><td>6,924</td><td>7,973</td></tr><tr><td>Canadian Dollar</td><td>6,628</td><td>4,894</td></tr><tr><td>Swiss Franc</td><td>3,069</td><td>2,666</td></tr><tr><td>Other</td><td>5,435</td><td>5,016</td></tr><tr><td> Total long-term debt</td><td>$448,431</td><td>$438,521</td></tr></table>
<table><tr><td></td><td colspan="3"> Accruing Past Due 90 Days or More</td><td colspan="3"> Nonperforming</td></tr><tr><td></td><td> December 31 </td><td>January 1 </td><td>December 31 </td><td> December 31 </td><td>January 1 </td><td>December 31 </td></tr><tr><td>(Dollars in millions)</td><td> 2010<sup>-1</sup></td><td>2010<sup>-1</sup></td><td>2009</td><td> 2010<sup>-1</sup></td><td>2010<sup>-1</sup></td><td>2009</td></tr><tr><td>Residential mortgage<sup>-2, 3</sup></td><td>$16,768</td><td>$11,680</td><td>$11,680</td><td>$17,691</td><td>$16,596</td><td>$16,596</td></tr><tr><td>Home equity<sup>-2</sup></td><td>–</td><td>–</td><td>–</td><td>2,694</td><td>4,252</td><td>3,804</td></tr><tr><td>Discontinued real estate<sup>-2</sup></td><td>–</td><td>–</td><td>–</td><td>331</td><td>249</td><td>249</td></tr><tr><td>U.S. credit card</td><td>3,320</td><td>5,408</td><td>2,158</td><td>n/a</td><td>n/a</td><td>n/a</td></tr><tr><td>Non-U.S.credit card</td><td>599</td><td>814</td><td>515</td><td>n/a</td><td>n/a</td><td>n/a</td></tr><tr><td>Direct/Indirect consumer</td><td>1,058</td><td>1,492</td><td>1,488</td><td>90</td><td>86</td><td>86</td></tr><tr><td>Other consumer</td><td>2</td><td>3</td><td>3</td><td>48</td><td>104</td><td>104</td></tr><tr><td> Total</td><td>$21,747</td><td>$19,397</td><td>$15,844</td><td>$20,854</td><td>$21,287</td><td>$20,839</td></tr></table>
<table><tr><td></td><td colspan="2"> Net Charge-offs</td><td colspan="2"> Net Charge-offs<sup>-1, 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>Held basis</td><td></td><td></td><td></td><td></td></tr><tr><td>Residential mortgage</td><td>$3,670</td><td>$4,350</td><td>1.49%</td><td>1.74%</td></tr><tr><td>Home equity</td><td>6,781</td><td>7,050</td><td>4.65</td><td>4.56</td></tr><tr><td>Discontinued real estate</td><td>68</td><td>101</td><td>0.49</td><td>0.58</td></tr><tr><td>U.S. credit card</td><td>13,027</td><td>6,547</td><td>11.04</td><td>12.50</td></tr><tr><td>Non-U.S.credit card</td><td>2,207</td><td>1,239</td><td>7.88</td><td>6.30</td></tr><tr><td>Direct/Indirect consumer</td><td>3,336</td><td>5,463</td><td>3.45</td><td>5.46</td></tr><tr><td>Other consumer</td><td>261</td><td>428</td><td>8.89</td><td>12.94</td></tr><tr><td> Total held</td><td>$29,350</td><td>$25,178</td><td>4.51</td><td>4.22</td></tr><tr><td></td><td colspan="2"> Net Losses</td><td colspan="2"> Net Losses<sup>-1</sup></td></tr><tr><td> Supplemental managed basis data</td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. credit card</td><td>n/a</td><td>$16,962</td><td>n/a</td><td>12.07</td></tr><tr><td>Non-U.S.credit card</td><td>n/a</td><td>2,223</td><td>n/a</td><td>7.43</td></tr><tr><td> Total credit card – managed</td><td>n/a</td><td>$19,185</td><td>n/a</td><td>11.25</td></tr></table>

Question: Which year is Other consumer in Nonperforming the least?
Answer: 2010