HCP, Inc.  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) On October 5, 2006, the Company issued an aggregate of 27.2 million shares of common stock in connection with the CRP and CRC mergers.
On November 10, 2006, the Company issued 33.5 million shares of common stock and received net proceeds of approximately $960 million, which were used to repay the bridge loan facility and borrowings under the Company’s previous term loan and revolving line of credit facility.
On January 19, 2007, the Company issued 6.8 million shares of its common stock and received net proceeds of approximately $261.1 million, which were used to repay outstanding borrowings under the Company’s former term loan facility and previous $1.0 billion revolving credit facility.
On October 5, 2007, the Company issued 9 million shares of common stock and received net proceeds of approximately $302.6 million, which were used to repay borrowings under the Company’s bridge loan facility.
On January 28, 2008, the Company announced that its Board declared a quarterly cash dividend of $0.455 per share.
The common stock cash dividend will be paid on February 21, 2008 to stockholders of record as of the close of business on February 7, 2008.
The annualized rate of distribution for 2008 is $1.82, compared with $1.78 for 2007.
Accumulated Other Comprehensive Income (Loss) (‘‘AOCI’’)
## Table 0 ##
(15) Segment Disclosures The Company, together with its consolidated entities, invests primarily in real estate serving the healthcare industry in the United States.
The Company evaluates its business and makes resource allocations on its five business segments—(i) senior housing, (ii) life science, (iii) medical office, (iv) hospital and (v) skilled nursing.
Under the senior housing, life science, hospital and skilled nursing segments, the Company invests primarily in single operator or tenant properties through acquisition and development of real estate, secured financing and investment in marketable debt securities of operators in these sectors.
Under the medical office segment, the Company invests through acquisition and secured financing in MOBs that are primarily leased under gross or modified gross leases, generally to multiple tenants, and which generally require a greater level of property management.
The acquisition of SEUSA on August 1, 2007 resulted in a change to the Company’s reportable segments.
Prior to the SEUSA acquisition, the Company operated through two reportable segments—triple-net leased and medical office buildings.
The senior housing, life science, hospital and skilled nursing segments were previously aggregated under the Company’s triple-net leased segment.
SEUSA’s results are included in the Company’s consolidated financial statements from the date of the Company’s acquisition on August 1, 2007.
The accounting policies of the segments are the same as those described in the summary of significant accounting policies (see Note 2).
There are no intersegment sales or
portion of their plan account invested in shares of PNC common stock into other investments available within the plan.
Prior to this amendment, only participants age 50 or older were permitted to exercise this diversification option.
Employee benefits expense related to this plan was $52 million in 2007, $52 million in 2006 and $47 million in 2005.
We measured employee benefits expense as the fair value of the shares and cash contributed to the plan by PNC.
Hilliard Lyons sponsors a contributory, qualified defined contribution plan that covers substantially all of its employees who are not covered by the plan described above.
Contributions to this plan are made in cash and include a base contribution for those participants employed at December 31, a matching of employee contributions, and a discretionary profit sharing contribution as determined by Hilliard Lyons’ Executive Compensation Committee.
Employee benefits expense for this plan was $6 million in 2007, $5 million in 2006 and $6 million in 2005.
See Note 2 Acquisitions and Divestitures regarding our pending sale of Hilliard Lyons.
We have a separate qualified defined contribution plan that covers substantially all US-based PFPC employees not covered by our plan.
The plan is a 401(k) plan and includes an ESOP feature.
Under this plan, employee contributions of up to 6% of eligible compensation as defined by the plan may be matched annually based on PFPC performance levels.
Participants must be employed as of December 31 of each year to receive this annual contribution.
The performancebased employer matching contribution will be made primarily in shares of PNC common stock held in treasury, except in the case of those participants who have exercised their diversification election rights to have their matching portion in other investments available within the plan.
Mandatory employer contributions to this plan are made in cash and include employer basic and transitional contributions.
Employee-directed contributions are invested in a number of investment options available under the plan, including a PNC common stock fund and several BlackRock mutual funds, at the direction of the employee.
Effective November 22, 2005, we amended the plan to provide all participants the ability to diversify the matching portion of their plan account invested in shares of PNC common stock into other investments available within the plan.
Prior to this amendment, only participants age 50 or older were permitted to exercise this diversification option.
Employee benefits expense for this plan was $10 million in 2007, $9 million in 2006 and $12 million in 2005.
We measured employee benefits expense as the fair value of the shares and cash contributed to the plan.
We also maintain a nonqualified supplemental savings plan for certain employees.
NOTE 18 STOCK-BASED COMPENSATION PLANS We have long-term incentive award plans (“Incentive Plans”) that provide for the granting of incentive stock options, nonqualified stock options, stock appreciation rights, incentive shares/performance units, restricted stock, restricted share units, other share-based awards and dollar-denominated awards to executives and, other than incentive stock options, to non-employee directors.
Certain Incentive Plan awards may be paid in stock, cash or a combination of stock and cash.
We grant a substantial portion of our stock-based compensation awards during the first quarter of the year.
As of December 31, 2007, no incentive stock options or stock appreciation rights were outstanding.
NONQUALIFIED STOCK OPTIONS Options are granted at exercise prices not less than the market value of common stock on the grant date.
Generally, options granted since 1999 become exercisable in installments after the grant date.
Options granted prior to 1999 are mainly exercisable 12 months after the grant date.
No option may be exercisable after 10 years from its grant date.
Payment of the option exercise price may be in cash or shares of common stock at market value on the exercise date.
The exercise price may be paid in previously owned shares.
Generally, options granted under the Incentive Plans vest ratably over a three-year period as long as the grantee remains an employee or, in certain cases, retires from PNC.
For all options granted prior to the adoption of SFAS 123R, we recognized compensation expense over the three-year vesting period.
If an employee retired prior to the end of the threeyear vesting period, we accelerated the expensing of all unrecognized compensation costs at the retirement date.
As required under SFAS 123R, we recognize compensation expense for options granted to retirement-eligible employees after January 1, 2006 in the period granted, in accordance with the service period provisions of the options.
A summary of stock option activity follows:
## Table 1 ##
Credit Risk Management Credit risk represents the possibility that a customer, counterparty or issuer may not perform in accordance with contractual terms.
Credit risk is inherent in the financial services business and results from extending credit to customers, purchasing securities, and entering into financial derivative transactions and certain guarantee contracts.
Credit risk is one of our most significant risks.
Our processes for managing credit risk are embedded in our risk culture and in our decision-making processes using a systematic approach whereby credit risks and related exposures are identified and assessed, managed through specific policies and processes, measured and evaluated against our risk appetite and credit concentration limits, and reported, along with specific mitigation activities, to management and the Board of Directors through our governance structure.
Our most significant concentration of credit risk is in our loan portfolio.
Loan Portfolio Characteristics and Analysis Table 13: Details of Loans Dollars in billions
## Table 2 ##
We use several asset quality indicators, as further detailed in Note 3 Asset Quality, to monitor and measure our exposure to credit risk within our loan portfolio.
The following provides additional information about our significant loan classes.
Commercial Commercial loans comprised 50% and 48% of our total loan portfolio at December 31, 2017 and December 31, 2016, respectively.
Most of our commercial loans are secured by collateral that provides a secondary source of repayment for the loan should the borrower experience cash generation difficulties.
Examples of this collateral include short-term assets, such as accounts receivable, inventory and securities, and long-lived assets, such as equipment, real estate and other business assets.
We actively manage our commercial loans to assess any changes (both positive and negative) in the level of credit risk at both the borrower and portfolio level.
To evaluate the level of credit risk, we assign an internal risk rating reflecting the borrower’s probability of default (PD) and loss given default (LGD).
This two-dimensional credit risk rating methodology provides granularity in the risk monitoring process and is updated on an ongoing basis through our credit risk management processes.
In addition to continual monitoring of the level of credit risk, we also monitor concentrations of credit risk pertaining to both specific industries and geography that may exist in our portfolio.
Our portfolio remains stable and well-diversified as evidenced by the following table which provides a breakout of our commercial loans by industry classification (classified based on the North American Industry Classification System (NAICS)).
Table 14: Commercial Loans by Industry
(a) Includes loans to customers in the real estate and construction industries.

<table><tr><td></td><td colspan="2">December 31,</td></tr><tr><td></td><td>2007</td><td>2006</td></tr><tr><td></td><td colspan="2">(in thousands)</td></tr><tr><td>AOCI—unrealized gains on available-for-sale securities, net</td><td>$14,222</td><td>$24,536</td></tr><tr><td>AOCI—unrealized losses on cash flow hedges, net</td><td>-14,243</td><td>-4,596</td></tr><tr><td>Supplemental Executive Retirement Plan minimum liability</td><td>-2,113</td><td>-2,215</td></tr><tr><td>Foreign currency translation adjustment</td><td>32</td><td>—</td></tr><tr><td>Total Accumulated Other Comprehensive Income (Loss)</td><td>$-2,102</td><td>$17,725</td></tr></table>
<table><tr><td></td><td>Per Option</td><td></td></tr><tr><td>Options outstanding atDecember 31Shares in thousands</td><td>Exercise Price</td><td>Weighted- Average Exercise Price</td><td>Shares</td></tr><tr><td>December 31, 2006</td><td>$37.43 – $76.00</td><td>$59.29</td><td>14,950</td></tr><tr><td>Granted</td><td>68.06 – 76.23</td><td>72.95</td><td>2,170</td></tr><tr><td>Exercised</td><td>37.43 – 74.59</td><td>54.34</td><td>-2,625</td></tr><tr><td>Cancelled</td><td>38.17 – 75.85</td><td>69.15</td><td>-169</td></tr><tr><td>December 31, 2007</td><td>$37.43– $76.23</td><td>$62.15</td><td>14,326</td></tr></table>
<table><tr><td></td><td colspan="2">December 31, 2017</td><td colspan="2">December 31, 2016</td></tr><tr><td>Dollars in millions</td><td>Amount</td><td>% of Total</td><td>Amount</td><td>% of Total</td></tr><tr><td>Commercial</td><td></td><td></td><td></td><td></td></tr><tr><td>Manufacturing</td><td>$20,578</td><td>19%</td><td>$18,891</td><td>19%</td></tr><tr><td>Retail/wholesale trade</td><td>17,846</td><td>16%</td><td>16,752</td><td>17%</td></tr><tr><td>Service providers</td><td>15,100</td><td>14%</td><td>14,707</td><td>15%</td></tr><tr><td>Real estate related (a)</td><td>12,496</td><td>11%</td><td>11,920</td><td>12%</td></tr><tr><td>Health care</td><td>9,739</td><td>9%</td><td>9,491</td><td>9%</td></tr><tr><td>Financial services</td><td>8,532</td><td>8%</td><td>7,241</td><td>7%</td></tr><tr><td>Transportation andwarehousing</td><td>5,609</td><td>5%</td><td>5,170</td><td>5%</td></tr><tr><td>Other industries</td><td>20,627</td><td>18%</td><td>17,192</td><td>16%</td></tr><tr><td>Total commercial loans</td><td>$110,527</td><td>100%</td><td>$101,364</td><td>100%</td></tr></table>

Question: What is the ratio of all elements for Amount that are smaller than 10000 to the sum of elements, in 2017?
Answer: 0.21606