ANALOG DEVICES, INC.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) The following is a schedule of future minimum rental payments required under long-term operating leases at October 29, 2011:
## Table 0 ##
12.
Commitments and Contingencies From time to time in the ordinary course of the Company’s business, various claims, charges and litigation are asserted or commenced against the Company arising from, or related to, contractual matters, patents, trademarks, personal injury, environmental matters, product liability, insurance coverage and personnel and employment disputes.
As to such claims and litigation, the Company can give no assurance that it will prevail.
The Company does not believe that any current legal matters will have a material adverse effect on the Company’s financial position, results of operations or cash flows.13.
Retirement Plans The Company and its subsidiaries have various savings and retirement plans covering substantially all employees.
The Company maintains a defined contribution plan for the benefit of its eligible U. S.  employees.
This plan provides for Company contributions of up to 5% of each participant’s total eligible compensation.
In addition, the Company contributes an amount equal to each participant’s pre-tax contribution, if any, up to a maximum of 3% of each participant’s total eligible compensation.
The total expense related to the defined contribution plan for U. S.  employees was $21.9 million in fiscal 2011, $20.5 million in fiscal 2010 and $21.5 million in fiscal 2009.
The Company also has various defined benefit pension and other retirement plans for certain non-U.
S.  employees that are consistent with local statutory requirements and practices.
The total expense related to the various defined benefit pension and other retirement plans for certain non-U.
S.  employees was $21.4 million in fiscal 2011, $11.7 million in fiscal 2010 and $10.9 million in fiscal 2009.
Non-U.
S.  Plan Disclosures The Company’s funding policy for its foreign defined benefit pension plans is consistent with the local requirements of each country.
The plans’ assets consist primarily of U. S.  and non-U.
S.  equity securities, bonds, property and cash.
The benefit obligations and related assets under these plans have been measured at October 29, 2011 and October 30, 2010.
Table 60 — Significant Items Impacting Performance Comparisons
## Table 1 ##
(1) Favorable (unfavorable) impact on GAAP earnings; pretax unless otherwise noted.
(2) After-tax.
EPS is reflected on a fully diluted basis.
Net Interest Income, Net Interest Margin, Loans and Average Balance Sheet Fully-taxable equivalent net interest income decreased $3.4 million, or 1%, from the year-ago quarter.
This reflected the unfavorable impact of a $0.7 billion, or 2%, decline in total average earning assets, partially offset by the favorable impact of a slight increase in the net interest margin to 3.19% from 3.18%.
The decline in total average earning assets primarily reflected a $4.3 billion, or 10%, decline in average total loans and leases and a $0.8 billion, or 88%, decline in average trading assets, partially offset by a $4.4 billion, or 97%, increase in investment securities.
The following table details the $4.3 billion, or 10%, decrease in average loans and leases.
Table 61 — Average Loans/Leases — 2009 Fourth Quarter vs.  2008 Fourth Quarter
## Table 2 ##
The decrease in average total loans and leases reflected: ?
$2.9 billion, or 12%, decrease in average total commercial loans.
The $1.2 billion, or 9%, decline in average C&I loans reflected a general decline in borrowing as reflected in a decline in line-of-credit utilization, including significant reductions in line-of-credit utilization in our automobile dealer floorplan exposure, charge-off activity, and the 2009 first quarter Franklin restructuring, partially offset by the impact of the 2009 reclassifications.
The $1.8 billion, or 17%, decrease in average CRE loans reflected a combination of factors, including our planned efforts to shrink this portfolio through payoffs and paydowns, as well as the impact of charge-offs and the 2009 reclassifications.
During the 2009 first and second quarters, Huntington entered into agreements with various institutional investors exchanging shares of common stock for shares of the Series A Preferred Stock held by the institutional investors.
The table below provides details of the aggregate activities:
## Table 3 ##
Each share of the Series A Preferred Stock is non-voting and may be converted at any time, at the option of the holder, into 83.668 shares of common stock of Huntington, which represents an approximate initial conversion price of $11.95 per share of common stock (for a total of approximately 30.3 million shares at December 31, 2009).
The conversion rate and conversion price will be subject to adjustments in certain circumstances.
On or after April 15, 2013, at the option of Huntington, the Series A Preferred Stock will be subject to mandatory conversion into Huntington’s common stock at the prevailing conversion rate, if the closing price of Huntington’s common stock exceeds 130% of the conversion price for 20 trading days during any 30 consecutive trading day period.
Troubled Asset Relief Program (TARP) In 2008, Huntington received $1.4 billion of equity capital by issuing to the U. S.  Department of Treasury 1.4 million shares of Huntington’s 5.00% Series B Non-voting Cumulative Preferred Stock, par value $0.01 per share with a liquidation preference of $1,000 per share, and a ten-year warrant to purchase up to 23.6 million shares of Huntington’s common stock, par value $0.01 per share, at an exercise price of $8.90 per share.
The proceeds received were allocated to the preferred stock and additional paid-in-capital based on their relative fair values.
The resulting discount on the preferred stock is amortized against retained earnings and is reflected in Huntington’s consolidated statement of income as “Dividends on preferred shares”, resulting in additional dilution to Huntington’s earnings per share.
The warrants are immediately exercisable, in whole or in part, over a term of 10 years.
The warrants are included in Huntington’s diluted average common shares outstanding using the treasury stock method.
Both the preferred securities and warrants were accounted for as additions to Huntington’s regulatory Tier 1 and Total capital.
The Series B Preferred Stock is not mandatorily redeemable and will pay cumulative dividends at a rate of 5% per year for the first five years and 9% per year thereafter.
With regulatory approval, Huntington may redeem the Series B Preferred Stock at par with any unamortized discount recognized as a deemed dividend in the period of redemption.
The Series B Preferred Stock rank on equal priority with Huntington’s existing 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock.
A company that participates in the TARP must adopt certain standards for executive compensation, including (a) prohibiting “golden parachute” payments as defined in the Emergency Economic Stabilization Act of 2008 (EESA) to senior executive officers; (b) requiring recovery of any compensation paid to senior executive officers based on criteria that is later proven to be materially inaccurate; (c) prohibiting incentive compensation that encourages unnecessary and excessive risks that threaten the value of the financial institution, and (d) accepting restrictions on the payment of dividends and the repurchase of common stock.
As of December 31, 2009, Huntington is in compliance with all TARP standards and restrictions.
Share Repurchase Program As a condition to participate in the TARP, Huntington may not repurchase any additional shares without prior approval from the Department of Treasury.
Huntington did not repurchase any shares under the 2006
In consumer lending, credit risk is managed from a loan type and vintage performance analysis.
All portfolio segments are continuously monitored for changes in delinquency trends and other asset quality indicators.
We make extensive use of portfolio assessment models to continuously monitor the quality of the portfolio, which may result in changes to future origination strategies.
The continuous analysis and review process results in a determination of an appropriate ALLL amount for our consumer loan portfolio.
The independent risk management group has a consumer process review component to ensure the effectiveness and efficiency of the consumer credit processes.
Collection action is initiated on an “as needed” basis through a centrally managed collection and recovery function.
The collection group employs a series of collection methodologies designed to maintain a high level of effectiveness while maximizing efficiency.
In addition to the retained consumer loan portfolio, the collection group is responsible for collection activity on all sold and securitized consumer loans and leases.
Please refer to the “Nonperforming Assets” discussion for further information regarding the placement of consumer loans on nonaccrual status and the charging off of balances to the ALLL.
The residential mortgage and home equity portfolios are primarily located throughout our geographic footprint.
The general slowdown in the housing market has impacted the performance of our residential mortgage and home equity portfolios over the past year.
While the degree of price depreciation varies across our markets, all regions throughout our footprint have been affected.
Given the continued economic weaknesses in our markets, the home equity and residential mortgage portfolios are particularly noteworthy, and are discussed in greater detail below: Table 26 — Selected Home Equity and Residential Mortgage Portfolio Data
## Table 4 ##
Year Ended December 31, 2009

<table><tr><td>Fiscal Years</td><td>Operating   Leases</td></tr><tr><td>2012</td><td>$17,590</td></tr><tr><td>2013</td><td>12,724</td></tr><tr><td>2014</td><td>6,951</td></tr><tr><td>2015</td><td>5,649</td></tr><tr><td>2016</td><td>3,669</td></tr><tr><td>Later Years</td><td>19,472</td></tr><tr><td>Total</td><td>$66,055</td></tr></table>
<table><tr><td></td><td colspan="3">Impact-1</td></tr><tr><td></td><td> Pretax</td><td></td><td>EPS-2</td></tr><tr><td colspan="4">(In millions, except per share amounts)</td></tr><tr><td> Three Months Ended:</td><td></td><td></td><td></td></tr><tr><td>December 31, 2009 — GAAP loss</td><td>$(369.7</td><td> )(2)</td><td>$-0.56</td></tr><tr><td></td><td>73.6</td><td></td><td>0.07</td></tr><tr><td></td><td>11.3</td><td>-2</td><td>0.02</td></tr><tr><td>December 31, 2008 — GAAP loss</td><td>$(417.3</td><td> )(2)</td><td>$-1.20</td></tr><tr><td></td><td>4.6</td><td></td><td>0.01</td></tr><tr><td></td><td>(2.9</td><td>)(2)</td><td>-0.01</td></tr></table>
<table><tr><td></td><td colspan="2"> Fourth Quarter</td><td colspan="2">Change</td></tr><tr><td></td><td> 2009</td><td> 2008</td><td>Amount</td><td>Percent</td></tr><tr><td colspan="5">(In millions)</td></tr><tr><td> Average Loans/Leases</td><td></td><td></td><td></td><td></td></tr><tr><td>Commercial and industrial</td><td>$12,570</td><td>$13,746</td><td>$-1,176</td><td>-9%</td></tr><tr><td>Commercial real estate</td><td>8,458</td><td>10,218</td><td>-1,760</td><td>-17</td></tr><tr><td>Total commercial</td><td>21,028</td><td>23,964</td><td>-2,936</td><td>-12</td></tr><tr><td>Automobile loans and leases</td><td>3,326</td><td>4,535</td><td>-1,209</td><td>-27</td></tr><tr><td>Home equity</td><td>7,561</td><td>7,523</td><td>38</td><td>1</td></tr><tr><td>Residential mortgage</td><td>4,417</td><td>4,737</td><td>-320</td><td>-7</td></tr><tr><td>Other consumer</td><td>757</td><td>678</td><td>79</td><td>12</td></tr><tr><td>Total consumer</td><td>16,061</td><td>17,473</td><td>-1,412</td><td>-8</td></tr><tr><td>Total loans/leases</td><td>$37,089</td><td>$41,437</td><td>$-4,348</td><td>-10%</td></tr></table>
<table><tr><td></td><td> First   Quarter 2009</td><td> Second   Quarter 2009</td><td> Total</td></tr><tr><td colspan="4"> (In thousands)</td></tr><tr><td>Preferred shares exchanged</td><td>114</td><td>92</td><td>206</td></tr><tr><td>Common shares issued:</td><td></td><td></td><td></td></tr><tr><td>At stated convertible option</td><td>9,547</td><td>7,730</td><td>17,277</td></tr><tr><td>As deemed dividend</td><td>15,044</td><td>8,751</td><td>23,795</td></tr><tr><td>Total common shares issued:</td><td>24,591</td><td>16,481</td><td>41,072</td></tr><tr><td>Deemed dividend</td><td>$27,742</td><td>$28,293</td><td>$56,035</td></tr></table>
<table><tr><td></td><td colspan="2">Home Equity Loans</td><td colspan="2">Home Equity Lines-of-Credit</td><td colspan="2"> Residential   Mortgages</td></tr><tr><td></td><td>12/31/09</td><td>12/31/08</td><td>12/31/09</td><td>12/31/08</td><td>12/31/09</td><td> 12/31/08</td></tr><tr><td>Ending balance (in millions)</td><td>$2,616</td><td>$3,116</td><td>$4,946</td><td>$4,440</td><td>$4,510</td><td>$4,761</td></tr><tr><td>Portfolio weighted average LTV ratio-1</td><td>71%</td><td>70%</td><td>77%</td><td>78%</td><td>76%</td><td>76%</td></tr><tr><td>Portfolio weighted average FICO-2</td><td>716</td><td>725</td><td>723</td><td>720</td><td>698</td><td>707</td></tr></table>

Question: Which year is Commercial real estate in Fourth Quarter lower?
Answer: 2009