Further, the Company evaluates whether its co-investments are other than temporarily impaired and, if so, records an impairment loss equal to the excess of the co-investments’ carrying value over its estimated fair value.
The Company capitalizes all direct and certain indirect costs, including interest and real estate taxes, incurred during development and redevelopment activities.
Interest is capitalized on real estate assets that require a period of time to get them ready for their intended use.
The amount of interest capitalized is based upon the average amount of accumulated development expenditures during the reporting period.
Included in capitalized costs are management’s accounting estimates of the direct and incremental personnel costs and indirect project costs associated with the Company’s development and redevelopment activities.
Indirect project costs consist primarily of personnel costs associated with construction administration and development, including accounting, legal fees, and various corporate and community onsite costs that clearly relate to projects under development.
The Company bases its accounting estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances.
Actual results may vary from those estimates and those estimates could be different under different assumptions or conditions.
Net Operating Income (‘‘NOI’’) Same-Property net operating income (‘‘NOI’’) is considered by management to be an important supplemental performance measure to earnings from operations included in the Company’s consolidated statements of income.
The presentation of Same-Property NOI assists with the presentation of the Company’s operations prior to the allocation of depreciation and any corporate-level or financing-related costs.
NOI reflects the operating performance of a community and allows for an easy comparison of the operating performance of individual communities or groups of communities.
Prospective buyers of real estate have different financing and overhead structures, with varying marginal impacts to overhead by acquiring real estate, and NOI is considered by many in the real estate industry to be a useful measure for determining the value of a real estate asset or group of assets.
The Company defines Same-Property NOI as Same-Property revenue less Same-Property operating expenses.
The reconciliation of earnings from operations to Same-Property NOI for the periods presented:
## Table 0 ##
Forward Looking Statements Certain statements in this ‘‘Management’s Discussion and Analysis of Financial Condition and Results of Operations,’’ and elsewhere in this Annual Report on Form 10-K which are not historical facts may be considered forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, including statements regarding the Company’s expectations, hopes, intentions, beliefs and strategies regarding the future.
Forward looking statements include statements regarding the Company’s expectations as to the timing of completion of current development and redevelopment projects and the stabilization dates of such projects, expectation as to the total projected costs of development and redevelopment projects, beliefs as to the adequacy of future cash flows to meet anticipated cash needs, expectations as to the amount of non-revenue generating capital expenditures, future acquisitions, the Company’s development and redevelopment pipeline and the sources of funding for it, the anticipated performance of existing properties, anticipated property and growth trends in various geographic regions, statements regarding the Company’s expected 2016 Same-Property revenue generally and in various areas, and 2016 Same-Property operating expenses, statements regarding the Company’s financing activities, and the use of proceeds from such activities.
?
Timing of available information, including the performance of first lien positions, and ?
Limitations of available historical data.
PNC’s determination of the ALLL for non-impaired loans is sensitive to the risk grades assigned to commercial loans and loss rates for consumer loans.
There are several other qualitative and quantitative factors considered in determining the ALLL.
This sensitivity analysis does not necessarily reflect the nature and extent of future changes in the ALLL.
It is intended to provide insight into the impact of adverse changes to risk grades and loss rates only and does not imply any expectation of future deterioration in the risk ratings or loss rates.
Given the current processes used, we believe the risk grades and loss rates currently assigned are appropriate.
In the hypothetical event that the aggregate weighted average commercial loan risk grades would experience a 1% deterioration, assuming all other variables remain constant, the allowance for commercial loans would increase by approximately $35 million as of December 31, 2014.
In the hypothetical event that consumer loss rates would increase by 10%, assuming all other variables remain constant, the allowance for consumer loans would increase by approximately $37 million at December 31, 2014.
Purchased impaired loans are initially recorded at fair value and applicable accounting guidance prohibits the carry over or creation of valuation allowances at acquisition.
Because the initial fair values of these loans already reflect a credit component, additional reserves are established when performance is expected to be worse than our expectations as of the acquisition date.
At December 31, 2014, we had established reserves of $.9 billion for purchased impaired loans.
In addition, loans (purchased impaired and nonimpaired) acquired after January 1, 2009 were recorded at fair value.
No allowance for loan losses was carried over and no allowance was created at the date of acquisition.
See Note 4 Purchased Loans in the Notes To Consolidated Financial Statements in Item 8 of this Report for additional information.
In determining the appropriateness of the ALLL, we make specific allocations to impaired loans and allocations to portfolios of commercial and consumer loans.
We also allocate reserves to provide coverage for probable losses incurred in the portfolio at the balance sheet date based upon current market conditions, which may not be reflected in historical loss data.
Commercial lending is the largest category of credits and is sensitive to changes in assumptions and judgments underlying the determination of the ALLL.
We have allocated approximately $1.6 billion, or 47%, of the ALLL at December 31, 2014 to the commercial lending category.
Consumer lending allocations are made based on historical loss experience adjusted for recent activity.
Approximately $1.7 billion, or 53%, of the ALLL at December 31, 2014 has been allocated to these consumer lending categories.
In addition to the ALLL, we maintain an allowance for unfunded loan commitments and letters of credit.
We report this allowance as a liability on our Consolidated Balance Sheet.
We maintain the allowance for unfunded loan commitments and letters of credit at a level we believe is appropriate to absorb estimated probable losses on these unfunded credit facilities.
We determine this amount using estimates of the probability of the ultimate funding and losses related to those credit exposures.
Other than the estimation of the probability of funding, this methodology is very similar to the one we use for determining our ALLL.
We refer you to Note 1 Accounting Policies and Note 3 Asset Quality in the Notes To Consolidated Financial Statements in Item 8 of this Report for further information on certain key asset quality indicators that we use to evaluate our portfolios and establish the allowances.
Table 41: Allowance for Loan and Lease Losses
## Table 1 ##
(a) Includes charge-offs of $134 million taken pursuant to alignment with interagency guidance on practices for loans and lines of credit related to consumer lending in the first quarter of 2013.
The provision for credit losses totaled $273 million for 2014 compared to $643 million for 2013.
The primary drivers of the decrease to the provision were improved overall credit quality, including lower consumer loan delinquencies, and the increasing value of residential real estate which resulted in greater expected cash flows from our purchased impaired loans.
For 2014, the provision for commercial lending credit losses increased by $64 million, or 178%, from 2013 primarily due to continued growth in the commercial book, paired with slowing of the reserve releases related to credit quality improvement.
The provision for consumer lending credit losses decreased $434 million, or 71%, from 2013.
FAIR VALUE MEASUREMENTS In addition to the following, see Note 7 Fair Value in the Notes To Consolidated Financial Statements in Item 8 of this Report for further information regarding fair value.
The following table summarizes the assets and liabilities measured at fair value on a recurring basis at December 31, 2015 and December 31, 2014, respectively, and the portions of such assets and liabilities that are classified within Level 3 of the valuation hierarchy.
Level 3 assets and liabilities are those where the fair value is estimated using significant unobservable inputs.
Table 20: Fair Value Measurements – Summary
## Table 2 ##
The majority of assets recorded at fair value are included in the securities available for sale portfolio.
The majority of Level 3 assets represent non-agency residential mortgage-backed securities in the securities available for sale portfolio, equity investments and mortgage servicing rights.
An instrument’s categorization within the hierarchy is based on the lowest level of input that is significant to the fair value measurement.
Changes from one quarter to the next related to the observability of inputs to a fair value measurement may result in a reclassification (transfer) of assets or liabilities between hierarchy levels.
PNC’s policy is to recognize transfers in and transfers out as of the end of the reporting period.
For additional information regarding the transfers of assets or liabilities between hierarchy levels, see Note 7 Fair Value in the Notes To Consolidated Financial Statements in Item 8 of this Report.
BUSINESS SEGMENTS REVIEW We have six reportable business segments: ?
Retail Banking ?
Corporate & Institutional Banking ?
Asset Management Group ?
Residential Mortgage Banking ?
BlackRock ?
Non-Strategic Assets Portfolio Business segment results, including the basis of presentation of inter-segment revenues, and a description of each business are included in Note 23 Segment Reporting included in the Notes To Consolidated Financial Statements in Item 8 of this Report.
Certain amounts included in this Business Segments Review section and the Business Segment Highlights in the Executive Summary section of this Item 7 differ from those amounts shown in Note 23, primarily due to the presentation in Item 7 of this Report of business net interest revenue on a taxable-equivalent basis.
Note 23 presents results of businesses for 2015, 2014 and 2013.

<table><tr><td></td><td>2015</td><td>2014</td><td>2013</td></tr><tr><td>Earnings from operations</td><td>$331,174</td><td>$201,514</td><td>$188,705</td></tr><tr><td>Adjustments:</td><td></td><td></td><td></td></tr><tr><td>General and administrative</td><td>40,090</td><td>40,878</td><td>26,684</td></tr><tr><td>Management and other fees from affiliates</td><td>-8,909</td><td>-9,347</td><td>-7,263</td></tr><tr><td>Depreciation and amortization</td><td>453,423</td><td>360,592</td><td>192,420</td></tr><tr><td>Merger and integration expenses</td><td>3,798</td><td>53,530</td><td>4,284</td></tr><tr><td>Acquisition and investment related costs</td><td>2,414</td><td>1,878</td><td>1,161</td></tr><tr><td>Net operating income</td><td>821,990</td><td>649,045</td><td>405,991</td></tr><tr><td>Less: Non Same-Property NOI</td><td>-357,457</td><td>-229,244</td><td>-22,599</td></tr><tr><td>Same-Property NOI</td><td>$464,533</td><td>$419,801</td><td>$383,392</td></tr></table>
<table><tr><td>Dollars in millions</td><td>2014</td><td>2013</td></tr><tr><td>January 1</td><td>$3,609</td><td>$4,036</td></tr><tr><td>Total net charge-offs (a)</td><td>-531</td><td>-1,077</td></tr><tr><td>Provision for credit losses</td><td>273</td><td>643</td></tr><tr><td>Net change in allowance for unfunded loan commitments and letters of credit</td><td>-17</td><td>8</td></tr><tr><td>Other</td><td>-3</td><td>-1</td></tr><tr><td>December 31</td><td>$3,331</td><td>$3,609</td></tr><tr><td>Net charge-offs to average loans (for the year ended) (a)</td><td>.27%</td><td>.57%</td></tr><tr><td>Allowance for loan and lease losses to total loans</td><td>1.63</td><td>1.84</td></tr><tr><td>Commercial lending net charge-offs</td><td>$-55</td><td>$-249</td></tr><tr><td>Consumer lending net charge-offs (a)</td><td>-476</td><td>-828</td></tr><tr><td>Total net charge-offs</td><td>$-531</td><td>$-1,077</td></tr><tr><td>Net charge-offs to average loans (for the year ended)</td><td></td><td></td></tr><tr><td>Commercial lending</td><td>.04%</td><td>.22%</td></tr><tr><td>Consumer lending (a)</td><td>0.62</td><td>1.07</td></tr></table>
<table><tr><td></td><td colspan="2">December 31, 2015</td><td colspan="2">December 31, 2014</td></tr><tr><td>Dollars in millions</td><td>Total Fair Value</td><td>Level 3</td><td>Total Fair Value</td><td>Level 3</td></tr><tr><td>Total assets</td><td>$68,804</td><td>$8,606</td><td>$58,973</td><td>$9,788</td></tr><tr><td>Total assets at fair value as a percentage of consolidated assets</td><td>19%</td><td></td><td>17%</td><td></td></tr><tr><td>Level 3 assets as a percentage of total assets at fair value</td><td></td><td>13%</td><td></td><td>17%</td></tr><tr><td>Level 3 assets as a percentage of consolidated assets</td><td></td><td>2%</td><td></td><td>3%</td></tr><tr><td>Total liabilities</td><td>$4,892</td><td>$495</td><td>$5,799</td><td>$716</td></tr><tr><td>Total liabilities at fair value as a percentage of consolidated liabilities</td><td>2%</td><td></td><td>2%</td><td></td></tr><tr><td>Level 3 liabilities as a percentage of total liabilities at fair value</td><td></td><td>10%</td><td></td><td>12%</td></tr><tr><td>Level 3 liabilities as a percentage of consolidated liabilities</td><td></td><td><1%</td><td></td><td><1%</td></tr></table>

Question: what was the ratio of the provision for credit losses in 2014 compared 2013 .
Answer: 0.42457