Level 3 – Fair Value Measurements
## Table 0 ##
(1) Assets (liabilities).
For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3.
(2) Net derivatives at December 31, 2009 include derivative assets of $23.0 billion and derivative liabilities of $15.2 billion.
(3) Amounts represent items which are accounted for under the fair value option.
(4) Other assets is primarily comprised of AFS marketable equity securities.
Level 3 – Fair Value Measurements
## Table 1 ##
(1) Assets (liabilities).
For assets, increase / (decrease) to Level 3 and for liabilities, (increase) / decrease to Level 3.
(2) Net derivatives at December 31, 2008 include derivative assets of $8.3 billion and derivative liabilities of $6.0 billion.
(3) Amounts represent items which are accounted for under the fair value option.
(4) Other assets is primarily comprised of AFS marketable equity securities.
The medical trend rates used in measuring the postretirement benefit obligation were 11.0% in 2006 and 10.2% in 2005, and were assumed to ultimately decrease to 5.0% by the year 2013.
An increase or decrease of one percentage point in the assumed medical trend rates would result in a change in the postretirement benefit obligation of 5% and (4)%, respectively, at December 31, 2006, and a change in the 2006 postretirement service cost plus interest cost of 5% and (4)%, respectively.
The medical trend rate for 2007 is 11.0%.
The asset allocations of our plans at December 31, 2006 and 2005, by asset category, were as follows:
## Table 2 ##
Lockheed Martin Investment Management Company (LMIMCO), our wholly-owned subsidiary, has the fiduciary responsibility for making investment decisions related to the assets of our defined benefit pension plans and retiree medical and life insurance plans.
LMIMCO’s investment objectives for the assets of the defined benefit pension plans are to minimize the net present value of expected funding contributions and to meet or exceed the rate of return assumed for plan funding purposes over the long term.
The investment objective for the assets of the retiree medical and life insurance plans is to meet or exceed the rate of return assumed for the plans for funding purposes over the long term.
The nature and duration of benefit obligations, along with assumptions concerning asset class returns and return correlations, are considered when determining an appropriate asset allocation to achieve the investment objectives.
Investment policies and strategies governing the assets of the plans are designed to achieve investment objectives within prudent risk parameters.
Risk management practices include the use of external investment managers and the maintenance of a portfolio diversified by asset class, investment approach and security holdings, and the maintenance of sufficient liquidity to meet benefit obligations as they come due.
LMIMCO’s investment policies require that asset allocations of defined benefit pension plans be maintained within the following ranges:
## Table 3 ##
At December 31, 2006, policies for the plans target an asset mix of 65% in total equity securities and 35% in debt and other securities.
Investment policies for all plans limit the use of alternative investments and derivatives.
Investment in each alternative asset class or structure (e. g. , real estate, private equity, hedge funds and commodities) is limited to 10% of plan assets.
Investments in derivatives are subject to additional limitations and constraints.
Equity securities purchased by external investment managers and included in the assets of the defined benefit pension plans included our issued and outstanding common stock in the amounts of $7 million (less than 0.10% of total plan assets) and $11 million (less than 0.05% of total plan assets) at December 31, 2006 and 2005, respectively.
Equity securities included in the assets of the retiree medical and life insurance plans included less than $1 million (less than 0.10% of total plan assets) of our issued and outstanding common stock at both December 31, 2006 and 2005.
We generally refer to U. S.  Government Cost Accounting Standards (CAS) and Internal Revenue Code rules in determining funding requirements for our pension plans.
In 2006, we made a discretionary prepayment of $594 million to
of Caisse de depot et placement du Quebec, or SITQ’s, 31.5% economic interest in 1515?
Broadway, thereby consolidating full ownership of the 1,750,000?square foot (unaudited) building.
The transaction valued the consolidated interests at $1.23?
billion.
This valuation was based on a negotiated sales agreement and took into consideration such factors as whether this was a distressed sale and whether a minority discount was warranted.
We acquired the interest subject to the $458.8?million mortgage encumbering the property.
We recognized a purchase price fair value adjustment of $475.1?million upon the closing of this transaction.
This property, which we initially acquired in May?2002, was previously accounted for as an investment in unconsolidated joint ventures.
In January?2011, we purchased City Investment Fund, or CIF’s, 49.9%?interest in 521?Fifth Avenue, thereby assuming full ownership of the 460,000?
square foot (unaudited) building.
The transaction valued the consolidated interests at approximately $245.7?
million, excluding $4.5?
million of cash and other assets acquired.
We acquired the interest subject to the $140.0?
million mortgage encumbering the property.
We recognized a purchase price fair value adjustment of $13.8?million upon the closing of this transaction.
In April?2011, we refinanced the property with a new $150.0?million 2-year mortgage which carries a floating rate of interest of 200?basis points over the 30-day LIBOR.
In connection with that refinancing, we acquired the fee interest in the property for $15.0?million.
The following summarizes our allocation of the purchase price of the assets acquired and liabilities assumed upon the closing of these 2011 acquisitions (amounts in thousands):

<table><tr><td></td><td colspan="7">2009</td></tr><tr><td>(Dollars in millions)</td><td>Balance January 1 2009 -1</td><td>Merrill Lynch Acquisition</td><td>Gains (Losses) Included in Earnings</td><td>Gains (Losses) Included in OCI</td><td>Purchases, Issuances and Settlements</td><td>Transfers into/(out of) Level 3 (1)</td><td>Balance December 31 2009 -1</td></tr><tr><td>Trading account assets:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Corporate securities, trading loans and other</td><td>$4,540</td><td>$7,012</td><td>$370</td><td>$–</td><td>$-2,015</td><td>$1,173</td><td>$11,080</td></tr><tr><td>Equity securities</td><td>546</td><td>3,848</td><td>-396</td><td>–</td><td>-2,425</td><td>-489</td><td>1,084</td></tr><tr><td>Non-U.S.sovereign debt</td><td>–</td><td>30</td><td>136</td><td>–</td><td>167</td><td>810</td><td>1,143</td></tr><tr><td>Mortgage trading loans and asset-backed securities</td><td>1,647</td><td>7,294</td><td>-262</td><td>–</td><td>933</td><td>-1,842</td><td>7,770</td></tr><tr><td>Total trading account assets</td><td>6,733</td><td>18,184</td><td>-152</td><td>–</td><td>-3,340</td><td>-348</td><td>21,077</td></tr><tr><td>Net derivative assets<sup>-2</sup></td><td>2,270</td><td>2,307</td><td>5,526</td><td>–</td><td>-7,906</td><td>5,666</td><td>7,863</td></tr><tr><td>Available-for-saledebt securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Non-agency MBS:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Residential</td><td>5,439</td><td>2,509</td><td>-1,159</td><td>2,738</td><td>-4,187</td><td>1,876</td><td>7,216</td></tr><tr><td>Commercial</td><td>657</td><td>–</td><td>-185</td><td>-7</td><td>-155</td><td>-52</td><td>258</td></tr><tr><td>Non-U.S.securities</td><td>1,247</td><td>–</td><td>-79</td><td>-226</td><td>-73</td><td>-401</td><td>468</td></tr><tr><td>Corporate/Agency bonds</td><td>1,598</td><td>–</td><td>-22</td><td>127</td><td>324</td><td>-1,100</td><td>927</td></tr><tr><td>Other taxable securities</td><td>9,599</td><td>–</td><td>-75</td><td>669</td><td>815</td><td>-1,154</td><td>9,854</td></tr><tr><td>Tax-exempt securities</td><td>162</td><td>–</td><td>2</td><td>26</td><td>788</td><td>645</td><td>1,623</td></tr><tr><td>Totalavailable-for-saledebt securities</td><td>18,702</td><td>2,509</td><td>-1,518</td><td>3,327</td><td>-2,488</td><td>-186</td><td>20,346</td></tr><tr><td>Loans and leases<sup>-3</sup></td><td>5,413</td><td>2,452</td><td>515</td><td>–</td><td>-3,718</td><td>274</td><td>4,936</td></tr><tr><td>Mortgage servicing rights</td><td>12,733</td><td>209</td><td>5,286</td><td>–</td><td>1,237</td><td>–</td><td>19,465</td></tr><tr><td>Loansheld-for-sale<sup>-3</sup></td><td>3,382</td><td>3,872</td><td>678</td><td>–</td><td>-1,048</td><td>58</td><td>6,942</td></tr><tr><td>Other assets<sup>-4</sup></td><td>4,157</td><td>2,696</td><td>1,273</td><td>–</td><td>-308</td><td>3</td><td>7,821</td></tr><tr><td>Trading account liabilities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Non-U.S.sovereign debt</td><td>–</td><td>–</td><td>-38</td><td>–</td><td>–</td><td>-348</td><td>-386</td></tr><tr><td>Corporate securities and other</td><td>–</td><td>–</td><td>–</td><td>–</td><td>4</td><td>-14</td><td>-10</td></tr><tr><td>Total trading account liabilities</td><td>–</td><td>–</td><td>-38</td><td>–</td><td>4</td><td>-362</td><td>-396</td></tr><tr><td>Commercial paper and other short-term borrowings<sup>-3</sup></td><td>-816</td><td>–</td><td>-11</td><td>–</td><td>120</td><td>–</td><td>-707</td></tr><tr><td>Accrued expenses and other liabilities<sup>-3</sup></td><td>-1,124</td><td>-1,337</td><td>1,396</td><td>–</td><td>174</td><td>–</td><td>-891</td></tr><tr><td>Long-term debt<sup>-3</sup></td><td>–</td><td>-7,481</td><td>-2,310</td><td>–</td><td>830</td><td>4,301</td><td>-4,660</td></tr></table>
<table><tr><td></td><td colspan="7">2008</td></tr><tr><td>(Dollars in millions)</td><td>Balance January 1 2008 -1</td><td>Countrywide Acquisition</td><td>Gains (Losses) Included in Earnings</td><td>Gains (Losses) Included in OCI</td><td>Purchases, Issuances and Settlements</td><td>Transfers into/(out of) Level 3 (1)</td><td>Balance December 31 2008 -1</td></tr><tr><td>Trading account assets</td><td>$4,027</td><td>$–</td><td>$-3,222</td><td>$–</td><td>$-1,233</td><td>$7,161</td><td>$6,733</td></tr><tr><td>Net derivative assets<sup>-2</sup></td><td>-1,203</td><td>-185</td><td>2,531</td><td>–</td><td>1,380</td><td>-253</td><td>2,270</td></tr><tr><td>Available-for-saledebt securities</td><td>5,507</td><td>528</td><td>-2,509</td><td>-1,688</td><td>2,754</td><td>14,110</td><td>18,702</td></tr><tr><td>Loans and leases<sup>-3</sup></td><td>4,590</td><td>–</td><td>-780</td><td>–</td><td>1,603</td><td>–</td><td>5,413</td></tr><tr><td>Mortgage servicing rights</td><td>3,053</td><td>17,188</td><td>-7,115</td><td>–</td><td>-393</td><td>–</td><td>12,733</td></tr><tr><td>Loansheld-for-sale<sup>-3</sup></td><td>1,334</td><td>1,425</td><td>-1,047</td><td>–</td><td>-542</td><td>2,212</td><td>3,382</td></tr><tr><td>Other assets<sup>-4</sup></td><td>3,987</td><td>1,407</td><td>175</td><td>–</td><td>-1,372</td><td>-40</td><td>4,157</td></tr><tr><td>Accrued expenses and other liabilities<sup>-3</sup></td><td>-660</td><td>-1,212</td><td>-169</td><td>–</td><td>101</td><td>–</td><td>-1,940</td></tr></table>
<table><tr><td></td><td colspan="2">Defined Benefit Pension Plans</td><td colspan="2"><i>Retiree Medical and Life</i><i>Insurance Plans</i></td></tr><tr><td></td><td>2006</td><td>2005</td><td>2006</td><td><i>2005</i></td></tr><tr><td>Asset category:</td><td></td><td></td><td></td><td></td></tr><tr><td>Equity securities</td><td>63%</td><td>61%</td><td>63%</td><td>66%</td></tr><tr><td>Debt securities</td><td>31</td><td>34</td><td>35</td><td>33</td></tr><tr><td>Other</td><td>6</td><td>5</td><td>2</td><td>1</td></tr><tr><td></td><td>100%</td><td>100%</td><td>100%</td><td>100%</td></tr></table>
<table><tr><td> <i>Investment Groups</i></td><td><i>Asset Allocation Ranges</i></td></tr><tr><td>U.S. equity securities</td><td>30 – 60%</td></tr><tr><td>Non-U.S. equity securities</td><td>10 – 30%</td></tr><tr><td>Debt securities</td><td>20 – 40%</td></tr><tr><td>Cash</td><td>0 – 15%</td></tr><tr><td>Other</td><td>0 – 40%</td></tr></table>

Question: How many Trading account assets exceed the average of Trading account assets in terms of Balance January 1 2009 in 2009?
Answer: 1