For reporting purposes, we allocate the allowance for credit losses across products.
However, the allowance is available to absorb any credit losses without restriction.
Table 38 presents our allocation by product type.
## Table 0 ##
(2) Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans measured in accordance with SFAS 159 for each loan and lease category.
Loans measured at fair value include commercial – domestic loans of $3.5 billion and $3.5 billion, commercial-foreign loans of $1.7 billion and $790 million, and commercial real estate loans of $203 million and $304 million at December 31, 2008 and 2007.
(3) Allowance for loan and leases losses at December 31, 2008 includes the benefit of amounts expected to be reimbursable under cash collateralized synthetic securitizations.
Excluding these benefits the allowance to ending loans would be 0.69 percent.
See Residential Mortgage beginning on page 63 for more information.
(4) Includes allowance for small business commercial – domestic loans of $2.4 billion and $1.4 billion at December 31, 2008 and 2007.
(5) Includes allowance for loan and lease losses for impaired commercial loans of $691 million and $123 million at December 31, 2008 and 2007.  n/a = not applicable Market Risk Management Market risk is the risk that values of assets and liabilities or revenues will be adversely affected by changes in market conditions such as market movements.
This risk is inherent in the financial instruments associated with our operations and/or activities including loans, deposits, securities, short-term borrowings, long-term debt, trading account assets and liabilities, and derivatives.
Market-sensitive assets and liabilities are generated through loans and deposits associated with our traditional banking business, customer and proprietary trading operations, ALM process, credit risk mitigation activities and mortgage banking activities.
In the event of market volatility, factors such as underlying market movements and liquidity have an impact on the results of the Corporation.
Our traditional banking loan and deposit products are nontrading positions and are reported at amortized cost for assets or the amount owed for liabilities (historical cost).
GAAP requires a historical cost view of traditional banking assets and liabilities.
However, these positions are still subject to changes in economic value based on varying market conditions, primarily changes in the levels of interest rates.
The risk of adverse changes in the economic value of our nontrading positions is managed through our ALM activities.
We have elected to fair value certain loan and deposit products in accordance with SFAS 159.
For further information on fair value of certain financial assets and liabilities, see Note 19 – Fair Value Disclosures to the Consolidated Financial Statements.
Our trading positions are reported at fair value with changes currently reflected in income.
Trading positions are subject to various risk factors, which include exposures to interest rates and foreign exchange rates, as well as mortgage, equity, commodity, issuer and market liquidity risk factors.
We seek to mitigate these risk exposures by using techniques that encompass a variety of financial instruments in both the cash and derivatives markets.
The following discusses the key risk components along with respective risk mitigation techniques.
Interest Rate Risk Interest rate risk represents exposures to instruments whose values vary with the level or volatility of interest rates.
These instruments include, but are not limited to, loans, debt securities, certain trading-related assets and liabilities, deposits, borrowings and derivative instruments.
Hedging instruments used to mitigate these risks include related derivatives such as options, futures, forwards and swaps.
Foreign Exchange Risk Foreign exchange risk represents exposures to changes in the values of current holdings and future cash flows denominated in other currencies.
The types of instruments exposed to this risk include investments in foreign subsidiaries, foreign currency-denominated loans and securities, future cash flows in foreign currencies arising from foreign exchange transactions, foreign currency-denominated debt and various foreign exchange derivative instruments whose values fluctuate with changes in the level or volatility of currency exchange rates or foreign interest rates.
Hedging instruments used to mitigate this risk include foreign exchange options, currency swaps, futures, forwards, foreign currency denominated debt and deposits.
‰ Level 3— Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.
This hierarchy requires the Company to use observable market data, when available, and to minimize the use of unobservable inputs when determining fair value.
The Company determines the fair value of structured liabilities (where performance is linked to structured interest rates, inflation or currency risks) using the London InterBank Offer Rate (“LIBOR”) swap curve and forward interest and exchange rates at period end.
Such instruments are classified as Level 2 based on the observability of significant inputs to the model.
The Company does not have any instruments classified as Level 1 or Level 3, other than those included in pension asset trusts included in Note 14.
These valuations take into consideration the Company’s credit risk and its counterparties’ credit risk.
The estimated change in the fair value of these instruments due to such changes in its own credit risk (or instrumentspecific credit risk) was immaterial as of December 31, 2016.
The amounts recorded in the balance sheet (carrying amount) and the estimated fair values of financial instruments at December 31 consisted of the following:
## Table 1 ##
(1) The carrying amount of cash and cash equivalents approximates fair value due to the short maturity of those instruments.
(2) The carrying amount of the Company’s credit facilities and bank overdrafts approximates fair value as the interest rate is reset frequently based on current market rates as well as the short maturity of those instruments.
(3) The fair value of the Company’s long-term debt was calculated using discounted cash flows applying current interest rates and current credit spreads based on its own credit risk.
(4) Amount is net of unamortized discount and debt issuance costs.
Derivatives The Company periodically enters into foreign currency forward contracts with the objective of reducing exposure to cash flow volatility associated with its intercompany loans, foreign currency receivables and payables and anticipated purchases of certain raw materials used in operations.
These contracts generally involve the exchange of one currency for a second currency at a future date, have maturities not exceeding twelve months and are with counterparties which are major international financial institutions.
During the years ended December 31, 2016 and 2015, the Company entered into several forward currency contracts which qualified as net investment hedges, in order to mitigate a portion of its net European investments from foreign currency risk.
The effective portions of net investment hedges are recorded in other comprehensive income (“OCI”) as a component of Foreign currency translation adjustments in the accompanying Consolidated Statement of Income and Comprehensive Income.
Realized gains/(losses) are deferred in AOCI where they will remain until the net investments in the Company’s European subsidiaries are divested.
Sixteen of these forward currency contracts matured during the year ended December 31, 2016.
The outstanding forward currency contacts have remaining maturities of less than one year.
Stock performance graph:The graph below shows the cumulative total shareholder return assuming the investment of $100, on December 31, 2013, and the reinvestment of dividends thereafter, if any, in the Company’s common stock versus the Standard and Poor’s S&P 500 Retail Index (“S&P 500 Retail Index”) and the Standard and Poor’s S&P 500 Index (“S&P 500”).
## Table 2 ##
increase.
In North America, contract generation segment revenues increased $46 million.
In the Caribbean (which includes Venezuela and Colombia), contract generation segment revenues increased $11 million, and this was due to a full year of operations at Merida III offset by a lower capacity factor at Los Mina.
Competitive supply revenues increased $300 million or 13% to $2.7 billion in 2001 from $2.4 billion in 2000.
Excluding businesses acquired or that commenced commercial operations in 2001 or 2000, competitive supply revenues increased 3% to $2.4 billion in 2001.
The most significant increases occurred within North America and the Caribbean.
Slight increases were recorded within South America and Asia.
Europe/Africa reported a slight decrease due to lower pool prices in the U. K.  offset by the start of commercial operations at Fifoots and the acquisition of Ottana.
In North America, competitive supply segment revenues increased $184 million due primarily to an expanded customer base at New Energy as well as increased operations at Placerita.
These increases in North America were offset by lower market prices at our New York businesses.
In the Caribbean, competitive supply segment revenues increased $123 million due primarily to the acquisition of Chivor.
Large utility revenues increased $300 million, or 14% to $2.4 billion in 2001 from $2.1 billion in 2000, principally resulting from the addition of revenues attributable to businesses acquired during 2001 or 2000.
Excluding businesses acquired in 2001 and 2000, large utility revenues increased 1% to $1.6 billion in 2001.
The majority of the increase occurred within the Caribbean, and there was a slight increase in North America.
In the Caribbean, revenues increased $312 million due to a full year of revenues from EDC, which was acquired in June 2000.
Growth distribution revenues increased $400 million, or 31% to $1.7 billion in 2001 from $1.3 billion in 2000.
Excluding businesses acquired in 2001 or 2000, growth distribution revenues increased 20% to $1.3 billion in 2001.
Revenues increased most significantly in the Caribbean and to a lesser extent in South America and Europe/Africa.
Revenues decreased slightly in Asia.
In the Caribbean, growth distribution segment revenues increased $296 million due primarily to a full year of operations at CAESS, which was acquired in 2000 and improved operations at EDE Este.
In South America, growth distribution segment revenues increased $89 million due to the significant revenues at Sul from our settlement with the Brazilian government offset by declines in revenues at our Argentine distribution businesses.
The settlement with the Brazilian government confirmed the sales price that Sul would receive from its sales into the southeast market (where rationing occurred) under its Itaipu contract.
In Europe/Africa, growth distribution segment revenues increased $59 million from the acquisition of SONEL.
In Asia, growth distribution segment revenues decreased $33 million mainly due to the change in the way in which we are accounting for our investment in CESCO.
CESCO was previously consolidated but was changed to equity method during 2001 when the Company was removed from management and the Board of Directors.
This decline was partially offset by the increase in revenues from the distribution businesses that we acquired in the Ukraine.
AES is a global power company which operates in 29 countries around the world.
The breakdown of AES’s revenues for the years ended December 31, 2001 and 2000, based on the geographic region in which they were earned, is set forth below.
A more detailed breakdown by country can be found in Note 16 of the consolidated financial statements.
## Table 3 ##
Includes Venezuela and Colombia.
9.
Preferred and Common Stock Preferred Stock — Xcel Energy has authorized 7,000,000 shares of preferred stock with a $100 par value.
At Dec.  31, 2008 and 2007, Xcel Energy had six series of preferred stock outstanding, redeemable at its option at prices ranging from $102 to $103.75 per share plus accrued dividends.
The holders of the $3.60 series preferred stock are entitled to three votes per each share held.
The holders of the other series of preferred stock are entitled to one vote per share.
In the event dividends payable on the preferred stock of any series outstanding is in arrears in an amount equal to four quarterly dividends, the holders of preferred stocks, voting as a class, are entitled to elect the smallest number of directors necessary to constitute a majority of the Board of Directors.
The holders of common stock, voting as a class, are entitled to elect the remaining directors.
The charters of some of Xcel Energy’s subsidiaries also authorize the issuance of preferred stock.
However, at Dec.  31, 2008 and 2007, there are no preferred shares of subsidiaries outstanding.
The following table lists preferred shares by subsidiary:
## Table 4 ##
Common Stock and Equivalents — On Sept.  15, 2008, Xcel Energy issued 15,000,000 shares of common stock to underwriters at a price of $20.10 per share.
The shares were re-offered to the public at a price of $20.20 per share plus a commission of $0.05 per share from the purchasers.
On Sept.  18, 2008, Xcel Energy issued 2,250,000 shares of common stock pursuant to the underwriters’ exercise in full of their over-allotment.
The proceeds from these offerings were used to repay commercial paper.
Xcel Energy has common stock equivalents consisting of convertible senior notes, 401(k) equity awards and stock options.
Restricted stock units and performance shares are included as common stock equivalents when all necessary conditions for issuance have been satisfied by the end of the period being reported.
In 2008, 2007 and 2006, Xcel Energy had approximately 8.1 million, 8.5 million and 11.0 million options outstanding, respectively, that were antidilutive and, therefore, excluded from the earnings per share calculation.
The dilutive impact of common stock equivalents affected earnings per share as follows for the years ending Dec.  31:
## Table 5 ##
ASC 820 Fair Value Measurements establishes a hierarchal framework for disclosing the observability of the inputs utilized in measuring fair value.
The three levels defined by the hierarchy and examples of each level are as follows: Level 1 — Quoted prices are available in active markets for identical assets as of the reporting date.
The types of assets included in Level 1 are highly liquid and actively traded instruments with quoted prices, such as common stocks listed by the New York Stock Exchange.
Level 2 — Pricing inputs are other than quoted prices in active markets, but are either directly or indirectly observable as of the reporting date.
The types of assets included in Level 2 are typically either comparable to actively traded securities or contracts or priced with models using highly observable inputs, such as corporate bonds with pricing based on market interest rate curves and recent trades of similarly rated securities.
Level 3 — Significant inputs to pricing have little or no observability as of the reporting date.
The types of assets included in Level 3 are those with inputs requiring significant management judgment or estimation, such as asset and mortgage backed securities, for which subjective risk-based adjustments to estimated yield and forecasted prepayments are significant inputs.
Pension Benefits Xcel Energy has several noncontributory, defined benefit pension plans that cover almost all employees.
Benefits are based on a combination of years of service, the employee’s average pay and social security benefits.
Xcel Energy’s policy is to fully fund the actuarially determined pension costs recognized for ratemaking and financial reporting purposes, subject to the limitations of applicable employee benefit and tax laws, into an external trust over time.
Xcel Energy bases its investment-return assumption on expected long-term performance for each of the investment types included in its pension asset portfolio.
Xcel Energy considers the actual historical returns achieved by its asset portfolio over the past 20-year or longer period, as well as the long-term return levels projected and recommended by investment experts.
The historical weighted average annual return for the past 20 years for the Xcel Energy portfolio of pension investments is 8.98 percent, which is greater than the current assumption level.
The pension cost determination assumes a forecasted mix of investment types over the long term.
Investment returns in 2009 were above the assumed level of 8.50 percent while returns in 2008 and 2007 were below the assumed level of 8.75 percent.
Xcel Energy continually reviews its pension assumptions.
In 2010, Xcel Energy will use an investment-return assumption of 7.79 percent.
The assets are invested in a portfolio according to Xcel Energy’s return, liquidity and diversification objectives to provide a source of funding for plan obligations and minimize the necessity of contributions to the plan, within appropriate levels of risk.
The principal mechanism for achieving these objectives is the allocation of assets to selected asset classes, given the long-term risk, return, and liquidity characteristics of each particular asset class.
There were no significant concentrations of risk in any particular industry, index, or entity, however, a higher weighting in equity investments can increase the volatility in the return levels achieved by pension assets in any year.

<table><tr><td></td><td colspan="6"> December 31</td></tr><tr><td></td><td colspan="3">2008</td><td colspan="3">2007</td></tr><tr><td>(Dollars in millions)</td><td> Amount</td><td>Percent of Total</td><td>Percent of Loans and Leases Outstanding -2</td><td>Amount</td><td>Percent of Total</td><td>Percent of Loans and Leases Outstanding<sup>-2</sup></td></tr><tr><td> Allowance for loan and lease losses</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Residential mortgage<sup>-3</sup></td><td>$1,382</td><td>5.99%</td><td>0.56%</td><td>$207</td><td>1.79%</td><td>0.08%</td></tr><tr><td>Home equity</td><td>5,385</td><td>23.34</td><td>3.53</td><td>963</td><td>8.31</td><td>0.84</td></tr><tr><td>Discontinued real estate</td><td>658</td><td>2.85</td><td>3.29</td><td>n/a</td><td>n/a</td><td>n/a</td></tr><tr><td>Credit card – domestic</td><td>3,947</td><td>17.11</td><td>6.16</td><td>2,919</td><td>25.19</td><td>4.44</td></tr><tr><td>Credit card – foreign</td><td>742</td><td>3.22</td><td>4.33</td><td>441</td><td>3.81</td><td>2.95</td></tr><tr><td>Direct/Indirect consumer</td><td>4,341</td><td>18.81</td><td>5.20</td><td>2,077</td><td>17.92</td><td>2.71</td></tr><tr><td>Other consumer</td><td>203</td><td>0.88</td><td>5.87</td><td>151</td><td>1.30</td><td>3.61</td></tr><tr><td>Total consumer</td><td>16,658</td><td>72.20</td><td>2.83</td><td>6,758</td><td>58.32</td><td>1.23</td></tr><tr><td>Commercial – domestic<sup>-4</sup></td><td>4,339</td><td>18.81</td><td>1.98</td><td>3,194</td><td>27.56</td><td>1.53</td></tr><tr><td>Commercial real estate</td><td>1,465</td><td>6.35</td><td>2.26</td><td>1,083</td><td>9.35</td><td>1.77</td></tr><tr><td>Commercial lease financing</td><td>223</td><td>0.97</td><td>1.00</td><td>218</td><td>1.88</td><td>0.97</td></tr><tr><td>Commercial – foreign</td><td>386</td><td>1.67</td><td>1.25</td><td>335</td><td>2.89</td><td>1.18</td></tr><tr><td>Total commercial<sup>-5</sup></td><td>6,413</td><td>27.80</td><td>1.90</td><td>4,830</td><td>41.68</td><td>1.51</td></tr><tr><td> Allowance for loan and lease losses</td><td>23,071</td><td>100.00%</td><td>2.49%</td><td>11,588</td><td>100.00%</td><td>1.33%</td></tr><tr><td> Reserve for unfunded lending commitments</td><td>421</td><td></td><td></td><td>518</td><td></td><td></td></tr><tr><td> Allowance for credit losses</td><td>$23,492</td><td></td><td></td><td>$12,106</td><td></td><td></td></tr></table>
<table><tr><td></td><td colspan="2">2016</td><td colspan="2">2015</td></tr><tr><td>(DOLLARS IN THOUSANDS)</td><td>CarryingAmount</td><td>FairValue</td><td>CarryingAmount</td><td>FairValue</td></tr><tr><td>Cash and cash equivalents<sup>-1</sup></td><td>$323,992</td><td>$323,992</td><td>$181,988</td><td>$181,988</td></tr><tr><td>Credit facilities and bank overdrafts<sup>-2</sup></td><td>13,599</td><td>13,599</td><td>142,178</td><td>142,178</td></tr><tr><td>Long-term debt:<sup>-3</sup></td><td></td><td></td><td></td><td></td></tr><tr><td>Senior notes — 2006<sup>-4</sup></td><td>—</td><td>—</td><td>124,964</td><td>127,717</td></tr><tr><td>Senior notes — 2007<sup>-4</sup></td><td>499,676</td><td>556,222</td><td>499,618</td><td>563,855</td></tr><tr><td>Senior notes — 2013<sup>-4</sup></td><td>297,986</td><td>302,376</td><td>297,683</td><td>290,830</td></tr><tr><td>Euro Senior notes - 2016<sup>-4</sup></td><td>512,764</td><td>546,006</td><td>—</td><td>—</td></tr></table>
<table><tr><td></td><td>December 31,</td></tr><tr><td>Company/Index</td><td>2013</td><td>2014</td><td>2015</td><td>2016</td><td>2017</td><td>2018</td></tr><tr><td>O’Reilly Automotive, Inc.</td><td>$100</td><td>$150</td><td>$197</td><td>$216</td><td>$187</td><td>$268</td></tr><tr><td>S&P 500 Retail Index</td><td>100</td><td>110</td><td>137</td><td>143</td><td>184</td><td>208</td></tr><tr><td>S&P 500</td><td>$100</td><td>$111</td><td>$111</td><td>$121</td><td>$145</td><td>$136</td></tr></table>
<table><tr><td></td><td>2001</td><td>2000</td><td>% change</td></tr><tr><td>North America</td><td>$ 3.6 billion</td><td>$ 3.4 billion</td><td>6%</td></tr><tr><td>South America</td><td>$ 1.7 billion</td><td>$ 1.1 billion</td><td>55%</td></tr><tr><td>Caribbean*</td><td>$ 1.9 billion</td><td>$ 1.1 billion</td><td>73%</td></tr><tr><td>Europe/Africa</td><td>$ 1.4 billion</td><td>$ 1.3 billion</td><td>8%</td></tr><tr><td>Asia</td><td>$693 million</td><td>$615 million</td><td>13%</td></tr></table>
<table><tr><td> </td><td> Preferred Shares Authorized</td><td> Par Value</td><td> Preferred Shares Outstanding</td></tr><tr><td>SPS</td><td>10,000,000</td><td>$1.00</td><td>None</td></tr><tr><td>PSCo</td><td>10,000,000</td><td>0.01</td><td>None</td></tr></table>
<table><tr><td> </td><td colspan="3"> 2008</td><td colspan="3"> 2007</td><td colspan="3"> 2006</td></tr><tr><td> </td><td>Income</td><td> Shares</td><td> Per Share Amount</td><td>Income</td><td> Shares</td><td> Per Share Amount</td><td>Income</td><td> Shares</td><td> Per Share Amount</td></tr><tr><td> </td><td colspan="9"> (Shares and dollars in thousands, except per share amounts) </td></tr><tr><td>Income from continuing operations</td><td>$645,720</td><td></td><td></td><td>$575,899</td><td></td><td></td><td>$568,681</td><td></td><td></td></tr><tr><td>Less: Dividend requirements on preferred stock</td><td>-4,241</td><td></td><td></td><td>-4,241</td><td></td><td></td><td>-4,241</td><td></td><td></td></tr><tr><td> Basic earnings per share</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Earnings available to common shareholders</td><td>641,479</td><td>437,054</td><td>$1.47</td><td>571,658</td><td>416,139</td><td>$1.38</td><td>564,440</td><td>405,689</td><td>$1.39</td></tr><tr><td>Effect of dilutive securities:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Convertible senior notes</td><td>4,498</td><td>4,144</td><td></td><td>10,411</td><td>16,425</td><td></td><td>15,112</td><td>23,317</td><td></td></tr><tr><td>401(k) equity awards</td><td>—</td><td>596</td><td></td><td>—</td><td>482</td><td></td><td>—</td><td>551</td><td></td></tr><tr><td>Stock options</td><td>—</td><td>19</td><td></td><td>—</td><td>85</td><td></td><td>—</td><td>48</td><td></td></tr><tr><td> Diluted earnings per share</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Earnings available to common shareholders and assumed conversions</td><td>$645,977</td><td>441,813</td><td>$1.46</td><td>$582,069</td><td>433,131</td><td>$1.35</td><td>$579,552</td><td>429,605</td><td>$1.35</td></tr></table>

Question: In the year with lowest amount of Residential mortgage, what's the increasing rate of Home equity?
Answer: 0.99059