The following tables present the Company’s pension plan assets measured at fair value on a recurring basis:
## Table 0 ##
## Table 1 ##
Equity securities are managed to track the performance of common market indices for both U. S.  and non-U.
S.  securities, primarily across large cap, small cap and emerging market asset classes.
Debt securities are managed to track the performance of common market indices for both U. S.  and non-U.
S.  investment grade bonds as well as a pool of U. S.  high yield bonds.
Real estate investment trusts are managed to track the performance of a broad population of investment grade non-agricultural income producing properties.
The Company’s investments in hedge funds include investments in a multi-strategy fund and an off-shore fund managed to track the performance of broad fund of fund indices.
Pooled pension funds are managed to track a specific benchmark based on the investment objectives of the fund.
Cash equivalents consist of holdings in a money market fund that seeks to equal the return of the three month U. S.  Treasury bill.
The fair value of real estate investment trusts is based primarily on the underlying cash flows of the properties within the trusts which are significant unobservable inputs and classified as Level 3.
The fair value of the hedge funds is based on the proportionate share of the underlying net assets of the funds, which are significant unobservable inputs and classified as Level 3.
The fair value of pooled pension funds and equity securities held in collective trust funds is based on the fund’s NAV and classified as Level 2 as they trade in principal-to-principal markets.
Equity securities and mutual funds traded in active markets are classified as Level 1.
For debt securities and cash equivalents, the valuation techniques and classifications are consistent with those used for the Company’s own investments as described in Note 14.
For additional information on segment results see page 43.
Income from equity method investments increased by $126 million in 2006 from 2005 and increased by $98 million in 2005 from 2004.
Income from our LPG operations in Equatorial Guinea increased in both periods due to higher sales volumes as a result of the plant expansions completed in 2005.
The increase in 2005 also included higher PTC income as a result of higher distillate gross margins.
Cost of revenues increased $4.609 billion in 2006 from 2005 and $7.106 billion in 2005 from 2004.
In both periods the increases were primarily in the RM&T segment and resulted from increases in acquisition costs of crude oil, refinery charge and blend stocks and purchased refined products.
The increase in both periods was also impacted by higher manufacturing expenses, primarily the result of higher contract services and labor costs in 2006 and higher purchased energy costs in 2005.
Purchases related to matching buy/sell transactions decreased $6.968 billion in 2006 from 2005 and increased $3.314 billion in 2005 from 2004, mostly in the RM&T segment.
The decrease in 2006 was primarily related to the change in accounting for matching buy/sell transactions discussed above.
The increase in 2005 was primarily due to increased crude oil prices.
Depreciation, depletion and amortization increased $215 million in 2006 from 2005 and $125 million in 2005 from 2004.
RM&T segment depreciation expense increased in both years as a result of the increase in asset value recorded for our acquisition of the 38 percent interest in MPC on June 30, 2005.
In addition, the Detroit refinery expansion completed in the fourth quarter of 2005 contributed to the RM&T depreciation expense increase in 2006.
E&P segment depreciation expense for 2006 included a $20 million impairment of capitalized costs related to the Camden Hills field in the Gulf of Mexico and the associated Canyon Express pipeline.
Natural gas production from the Camden Hills field ended in 2006 as a result of increased water production from the well.
Selling, general and administrative expenses increased $73 million in 2006 from 2005 and $134 million in 2005 from 2004.
The 2006 increase was primarily because personnel and staffing costs increased throughout the year primarily as a result of variable compensation arrangements and increased business activity.
Partially offsetting these increases were reductions in stock-based compensation expense.
The increase in 2005 was primarily a result of increased stock-based compensation expense, due to the increase in our stock price during that year as well as an increase in equity-based awards, which was partially offset by a decrease in expense as a result of severance and pension plan curtailment charges and start-up costs related to EGHoldings in 2004.
Exploration expenses increased $148 million in 2006 from 2005 and $59 million in 2005 from 2004.
Exploration expense related to dry wells and other write-offs totaled $166 million, $111 million and $47 million in 2006, 2005 and 2004.
Exploration expense in 2006 also included $47 million for exiting the Cortland and Empire leases in Nova Scotia.
Net interest and other financing costs (income) reflected a net $37 million of income for 2006, a favorable change of $183 million from the net $146 million expense in 2005.
Net interest and other financing costs decreased $16 million in 2005 from 2004.
The favorable changes in 2006 included increased interest income due to higher interest rates and average cash balances, foreign currency exchange gains, adjustments to interest on tax issues and greater capitalized interest.
The decrease in expense for 2005 was primarily a result of increased interest income on higher average cash balances and greater capitalized interest, partially offset by increased interest on potential tax deficiencies and higher foreign exchange losses.
Included in net interest and other financing costs (income) are foreign currency gains of $16 million, losses of $17 million and gains of $9 million for 2006, 2005 and 2004.
Minority interest in income of MPC decreased $148 million in 2005 from 2004 due to our acquisition of the 38 percent interest in MPC on June 30, 2005.
Provision for income taxes increased $2.308 billion in 2006 from 2005 and $979 million in 2005 from 2004, primarily due to the $4.259 billion and $2.691 billion increases in income from continuing operations before income taxes.
The increase in our effective income tax rate in 2006 was primarily a result of the income taxes related to our Libyan operations, where the statutory income tax rate is in excess of 90 percent.
The following is an analysis of the effective income tax rates for continuing operations for 2006, 2005 and 2004.
See Note 11 to the consolidated financial statements for further discussion.
## Table 2 ##
The decrease in general and administrative expense for fiscal 2011 compared with fiscal 2010 was primarily due to a decrease of $13.8 million resulting from higher allocation of expenses to other functional areas because of increased headcount.
This decrease was partially offset by an increase of $3.3 million in personnel-related costs, $6.1 million in facility expenses and $2.9 million in other general and administrative expenses primarily as a result of our prior-year acquisitions.
Change in Fair Value of Deferred Compensation The income or loss arising from the change in fair value of our non-qualified deferred compensation plan obligation is recorded in cost of sales and each functional operating expense, with the offsetting change in the fair value of the related assets recorded in other income (expense), net.
These assets are classified as trading securities.
There is no overall impact to our net income from the income or loss of our deferred compensation plan obligation and asset.
Acquired In-Process Research and Development In-process research and development (IPR&D) costs relate to in-process technologies acquired in acquisitions.
The value assigned to IPR&D is determined by considering the importance of each project to our overall development plan, estimating costs to develop the IPR&D into commercially viable products, estimating the resulting net cash flows from such projects when completed and discounting the net cash flows back to their present value.
The utilized discount rate is our weighted average cost of capital, taking into account the inherent uncertainties in future revenue estimates and the profitability of such technology, the successful development of the IPR&D, its useful life and the uncertainty of technological advances, all of which are unknown at the time of determination.
Upon completion of development, the underlying intangible asset is amortized over its estimated useful life and recorded in cost of revenue.
IPR&D projects acquired are anticipated to be completed over a period of one to three years from the date of the acquisition.
IPR&D projects of $3.3 million were completed during fiscal 2012.
See Note 3 and Note 4 of Notes to Consolidated Financial Statements.
Amortization of Intangible Assets Amortization of intangible assets includes the amortization of contract rights and the amortization of core/developed technology, trademarks, trade names, customer relationships, covenants not to compete, and other intangibles related to acquisitions completed in current and prior years.
Amortization expense is included in the consolidated statements of operations as follows:

<table><tr><td></td><td colspan="4">December 31, 2015</td></tr><tr><td>Asset Category</td><td>Level 1</td><td>Level 2</td><td>Level 3</td><td>Total</td></tr><tr><td></td><td colspan="4">(in millions)</td></tr><tr><td>Equity securities:</td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. large cap stocks</td><td>$74</td><td>$83</td><td>$—</td><td>$157</td></tr><tr><td>U.S. small cap stocks</td><td>55</td><td>3</td><td>—</td><td>58</td></tr><tr><td>Non-U.S. large cap stocks</td><td>21</td><td>34</td><td>—</td><td>55</td></tr><tr><td>Non-U.S. small cap stocks</td><td>21</td><td>—</td><td>—</td><td>21</td></tr><tr><td>Emerging markets</td><td>14</td><td>21</td><td>—</td><td>35</td></tr><tr><td>Debt securities:</td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. investment grade bonds</td><td>19</td><td>14</td><td>—</td><td>33</td></tr><tr><td>U.S. high yield bonds</td><td>—</td><td>26</td><td>—</td><td>26</td></tr><tr><td>Non-U.S. investment grade bonds</td><td>—</td><td>14</td><td>—</td><td>14</td></tr><tr><td>Real estate investment trusts</td><td>—</td><td>—</td><td>16</td><td>16</td></tr><tr><td>Hedge funds</td><td>—</td><td>—</td><td>21</td><td>21</td></tr><tr><td>Pooled pension funds</td><td>—</td><td>143</td><td>—</td><td>143</td></tr><tr><td>AVC assets (pooled pension funds)</td><td>—</td><td>19</td><td>—</td><td>19</td></tr><tr><td>Cash equivalents</td><td>10</td><td>—</td><td>—</td><td>10</td></tr><tr><td>Total</td><td>$214</td><td>$357</td><td>$37</td><td>$608</td></tr></table>
<table><tr><td></td><td colspan="4">December 31, 2014</td></tr><tr><td>Asset Category</td><td>Level 1</td><td>Level 2</td><td>Level 3</td><td>Total</td></tr><tr><td></td><td colspan="4">(in millions)</td></tr><tr><td>Equity securities:</td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. large cap stocks</td><td>$74</td><td>$84</td><td>$—</td><td>$158</td></tr><tr><td>U.S. small cap stocks</td><td>59</td><td>1</td><td>—</td><td>60</td></tr><tr><td>Non-U.S. large cap stocks</td><td>21</td><td>33</td><td>—</td><td>54</td></tr><tr><td>Non-U.S. small cap stocks</td><td>18</td><td>—</td><td>—</td><td>18</td></tr><tr><td>Emerging markets</td><td>15</td><td>24</td><td>—</td><td>39</td></tr><tr><td>Debt securities:</td><td></td><td></td><td></td><td></td></tr><tr><td>U.S. investment grade bonds</td><td>19</td><td>15</td><td>—</td><td>34</td></tr><tr><td>U.S. high yield bonds</td><td>—</td><td>27</td><td>—</td><td>27</td></tr><tr><td>Non-U.S. investment grade bonds</td><td>—</td><td>15</td><td>—</td><td>15</td></tr><tr><td>Real estate investment trusts</td><td>—</td><td>—</td><td>14</td><td>14</td></tr><tr><td>Hedge funds</td><td>—</td><td>—</td><td>21</td><td>21</td></tr><tr><td>Pooled pension funds</td><td>—</td><td>144</td><td>—</td><td>144</td></tr><tr><td>AVC assets (pooled pension funds)</td><td>—</td><td>19</td><td>—</td><td>19</td></tr><tr><td>Cash equivalents</td><td>9</td><td>—</td><td>—</td><td>9</td></tr><tr><td>Total</td><td>$215</td><td>$362</td><td>$35</td><td>$612</td></tr></table>
<table><tr><td></td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td>Statutory U.S. income tax rate</td><td>35.0%</td><td>35.0%</td><td>35.0%</td></tr><tr><td>Effects of foreign operations, including foreign tax credits</td><td>9.9</td><td>-0.8</td><td>0.5</td></tr><tr><td>State and local income taxes net of federal income tax effects</td><td>1.9</td><td>2.5</td><td>1.6</td></tr><tr><td>Other tax effects</td><td>-2.0</td><td>-0.4</td><td>-0.9</td></tr><tr><td>Effective income tax rate for continuing operations</td><td>44.8%</td><td>36.3%</td><td>36.2%</td></tr></table>

Question: What is the proportion of U.S. large cap stocks of Level 1 to the total in2014? (in %)
Answer: 0.34419