No operating segments were aggregated to form our reportable segments.
In addition to these reportable segments, we also have other non-reportable segments, representing approximately 7% of our Fiscal 2017 net revenues, which primarily consist of (i) sales of our Club Monaco branded products made through our retail businesses in the U. S. , Canada, and Europe, (ii) sales of our Ralph Lauren branded products made through our wholesale business in Latin America, and (iii) royalty revenues earned through our global licensing alliances.
This new segment structure is consistent with how we establish our overall business strategy, allocate resources, and assess performance of our Company.
All prior period segment information has been recast to reflect the realignment of our segment reporting structure on a comparable basis.
Approximately 40% of our Fiscal 2017 net revenues were earned outside of the U. S.  See Note 20 to the accompanying consolidated financial statements for a summary of net revenues and operating income by segment, as well as net revenues and long-lived assets by geographic location.
Our Wholesale Business Our wholesale business sells our products globally to leading upscale and certain mid-tier department stores, specialty stores, and golf and pro shops.
We have continued to focus on elevating our brand by improving in-store product assortment and presentation, as well as full-price sell-throughs to consumers.
As of the end of Fiscal 2017, our wholesale products were sold through over 13,000 doors worldwide, with the majority in specialty stores.
Our products are also sold through the e-commerce sites of certain of our wholesale customers.
The primary product offerings sold through our wholesale channels of distribution include apparel, accessories, and home furnishings.
Our luxury brands — Ralph Lauren Collection and Ralph Lauren Purple Label — are distributed worldwide through a limited number of premier fashion retailers.
Department stores are our major wholesale customers in North America.
In Latin America, our wholesale products are sold in department stores and specialty stores.
In Europe, our wholesale sales are comprised of a varying mix of sales to both department stores and specialty stores, depending on the country.
In Asia, our wholesale products are distributed primarily through shop-within-shops at department stores.
We also distribute our wholesale products to certain licensed stores operated by our partners in Latin America, Asia, Europe, and the Middle East.
We sell the majority of our excess and out-of-season products through secondary distribution channels worldwide, including our retail factory stores.
Worldwide Wholesale Distribution Channels The following table presents the number of wholesale doors by segment as of April 1, 2017:
## Table 0 ##
We have three key wholesale customers that generate significant sales volume.
During Fiscal 2017, sales to our largest wholesale customer, Macy's, Inc.  ("Macy's"), accounted for approximately 10% of our total net revenues.
Further, during Fiscal 2017, sales to our three largest wholesale customers, including Macy's, accounted for approximately 21% of our total net revenues.
Substantially all sales to our three largest wholesale customers related to our North America segment.
Our products are sold primarily by our own sales forces.
Our wholesale business maintains its primary showrooms in New York City.
In addition, we maintain regional showrooms in Milan, Paris, London, Munich, Madrid, Stockholm, and Panama.
(1) See Note 7–“Investment Securities” of the “Notes to the Consolidated Financial Statements” under Part II, Item 8 in this report, for further disclosure related to non-marketable securities.
We make commitments to invest in venture capital and private equity funds, which in turn make investments generally in, or in some cases make loans to, privately-held companies.
Commitments to invest in these funds are generally made for a 10 -year period from the inception of the fund.
Although the limited partnership agreements governing these investments typically do not restrict the general partners from calling 100% of committed capital in one year, it is customary for these funds to generally call most of the capital commitments over 5 to 7 years; however in certain cases, the funds may not call 100% of committed capital over the life of the fund.
The actual timing of future cash requirements to fund these commitments is generally dependent upon the investment cycle, overall market conditions, and the nature and type of industry in which the privately held companies operate.
Liquidity The objective of liquidity management is to ensure that funds are available in a timely manner to meet our financial obligations, including, as necessary, paying creditors, meeting depositors’ needs, accommodating loan demand and growth, funding investments, repurchasing securities and other operating or capital needs, without incurring undue cost or risk, or causing a disruption to normal operating conditions.
We regularly assess the amount and likelihood of projected funding requirements through a review of factors such as historical deposit volatility and funding patterns, present and forecasted market and economic conditions, individual client funding needs, and existing and planned business activities.
Our Asset/Liability Committee (“ALCO”), which is a management committee, provides oversight to the liquidity management process and recommends policy guidelines for the approval of the Finance Committee of our Board of Directors, and courses of action to address our actual and projected liquidity needs.
Our deposit base is, and historically has been, our primary source of liquidity.
Our deposit levels and cost of deposits may fluctuate from time to time due to a variety of factors, including market conditions, prevailing interest rates, changes in client deposit behaviors, availability of insurance protection, and our offering of deposit products.
At December 31, 2012 , our period-end total deposit balances increased by $2.5 billion to $19.2 billion , compared to $16.7 billion at December 31, 2011 .
The overall increase in deposit balances was primarily due to the addition of new clients and increased fundraising activity by our venture capital/private equity clients.
Additionally, the unlimited insurance coverage under the FDIC's Transaction Account Guarantee program and the Dodd-Frank Act for noninterest-bearing transactions accounts expired on December 31, 2012.
Our liquidity requirements can also be met through the use of our portfolio of liquid assets.
Our definition of liquid assets includes cash and cash equivalents in excess of the minimum levels necessary to carry out normal business operations, short-term investment securities maturing within one year, available-for-sale securities eligible and available for financing or pledging purposes with a maturity in excess of one year and anticipated near-term cash flows from investments.
On a stand-alone basis, SVB Financial’s primary liquidity channels include dividends from the Bank, its portfolio of liquid assets, and its ability to raise debt and capital.
The ability of the Bank to pay dividends is subject to certain regulations described in “Business—Supervision and Regulation—Restriction on Dividends” under Part I, Item 1 in this report.
Consolidated Summary of Cash Flows Below is a summary of our average cash position and statement of cash flows for 2012 , 2011 and 2010 , respectively: (For further details, see our consolidated statements of cash flows under "Consolidated Financial Statements and Supplemental Data" under Part II, Item 8 of this report. )
## Table 1 ##
Average cash and cash equivalents decreased by $763 million to $1.5 billion in 2012 , compared to $2.3 billion for the comparable 2011 period.
The decrease was primarily due to the investment of cash and cash equivalents into available-for-sale securities and the funding of loan growth.
The following table summarizes period-end client investment funds at December 31, 2012 , 2011 and 2010 :
## Table 2 ##
NM—Not meaningful Gains on Investment Securities, Net Net gains on investment securities include both gains from our non-marketable and marketable securities, as well as gains from sales of our available-for-sale securities portfolio, when applicable.
Our available-for-sale securities portfolio is managed to optimize portfolio yield over the long-term in a manner consistent with our liquidity, credit diversification, and asset/liability strategies.
Though infrequent, the sale of investments from our available-forsale portfolio results in net gains or losses on investment securities, and are within the guidelines of our investment policy of managing our liquidity position and interest rate risk.
We sold $316 million, $1.4 billion and $651 million in certain available-for-sale securities resulting in pre-tax gains of $5.0 million, $37.3 million and $24.7 million during 2012, 2011 and 2010, respectively.
Our non-marketable securities portfolio primarily represents investments in venture capital funds, venture debt funds and private portfolio companies.
We experience variability in the performance of our non-marketable securities from period to period, which results in net gains or losses on investment securities (both realized and unrealized).
This variability is due to a number of factors, including unrealized changes in the fair value of our investments, changes in the amount of realized gains from distributions, or changes in liquidity events and general economic and market conditions.
Unrealized gains from non-marketable securities for any single period are typically driven by valuation changes, and are therefore subject to potential increases or decreases in future periods.
Such variability may lead to volatility in the gains or losses from investment securities and as such our results for a particular period are not necessarily indicative of our expected performance in a future period.
In 2012 we had net gains on investment securities of $122.1 million , compared to $195.0 million and $93.4 million in 2011 and 2010 , respectively.
Gains on investment securities, net of noncontrolling interests and excluding gains on sales of certain available-for-sale securities, were $31.5 million in 2012 , compared to $32.7 million and $16.1 million in 2011 and 2010 , respectively.
The gains, net of noncontrolling interests and excluding gains on sales of certain available-for-sale securities, of $31.5 million in 2012 were driven by the following: Gains of $13.3 million from our managed funds, which included valuation increases and carried interest of $9.2 million from a single investment in two of our managed funds.  ?
Gains of $12.3 million from our investments in debt funds, driven primarily by IPO and M&A activity and other valuation increases from the investments within the funds.  ?
Gains of $6.6 million from our strategic and other investments, primarily driven by valuation increases from certain fund investments and realized gains on distributions from our fund investments.
## Table 3 ##
Included in noninterest expense is expense attributable to noncontrolling interests.
See below for a summary of non-GAAP noninterest expense and non-GAAP operating efficiency ratio, both of which exclude noncontrolling interests.
Non-GAAP Noninterest Expense We use and report non-GAAP noninterest expense, non-GAAP taxable equivalent revenue and non-GAAP operating efficiency ratio, which excludes noncontrolling interests and net gains from note repurchases and termination of corresponding interest rate swaps (when applicable).
We believe these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provide meaningful supplemental information regarding our performance by: (i) excluding certain items that represent expenses attributable to investors other than us and our subsidiaries, or certain items that do not occur every reporting period; or (ii) providing additional information used by management that is not otherwise required by GAAP or other applicable requirements.
Our management uses, and believes that investors benefit from referring to, these non-GAAP financial measures in assessing our operating results and when planning, forecasting and analyzing future periods.
However, these nonGAAP financial measures should be considered in addition to, not as a substitute for or preferable to, financial measures prepared in accordance with GAAP.
The table below provides a summary of non-GAAP noninterest expense and non-GAAP operating efficiency ratio, both net of noncontrolling interests:
## Table 4 ##
Global Commercial Bank

<table><tr><td></td><td>Doors</td></tr><tr><td>North America</td><td>7,294</td></tr><tr><td>Europe</td><td>5,690</td></tr><tr><td>Asia</td><td>187</td></tr><tr><td>Other non-reportable segments</td><td>166</td></tr><tr><td>Total</td><td>13,337</td></tr></table>
<table><tr><td></td><td colspan="3">Year ended December 31,</td></tr><tr><td>(Dollars in thousands)</td><td>2012</td><td>2011</td><td>2010</td></tr><tr><td>Average cash and cash equivalents</td><td>$1,494,961</td><td>$2,257,597</td><td>$4,101,839</td></tr><tr><td>Percentage of total average assets</td><td>7.0%</td><td>12.1%</td><td>27.6%</td></tr><tr><td>Net cash provided by operating activities</td><td>$200,139</td><td>$166,287</td><td>$163,228</td></tr><tr><td>Net cash used for investing activities</td><td>-2,890,399</td><td>-4,038,851</td><td>-5,052,707</td></tr><tr><td>Net cash provided by financing activities</td><td>2,584,295</td><td>1,911,080</td><td>4,453,058</td></tr><tr><td>Net decrease in cash and cash equivalents</td><td>$-105,965</td><td>$-1,961,484</td><td>$-436,421</td></tr></table>
<table><tr><td></td><td colspan="5">December 31,</td></tr><tr><td>(Dollars in millions)</td><td>2012</td><td>2011</td><td>% Change 2012/2011</td><td>2010</td><td>% Change 2011/2010</td></tr><tr><td>Client directed investment assets</td><td>$7,604</td><td>$7,709</td><td>-1.4%</td><td>$9,479</td><td>-18.7%</td></tr><tr><td>Client investment assets under management</td><td>10,824</td><td>9,919</td><td>9.1</td><td>7,415</td><td>33.8</td></tr><tr><td>Sweep money market funds</td><td>4,085</td><td>1,116</td><td>NM</td><td>—</td><td>—</td></tr><tr><td>Total period-end client investment funds</td><td>$22,513</td><td>$18,744</td><td>20.1</td><td>$16,894</td><td>11.0</td></tr></table>
<table><tr><td></td><td colspan="5">Year ended December 31,</td></tr><tr><td>(Dollars in thousands)</td><td>2012</td><td>2011</td><td>% Change 2012/2011</td><td>2010</td><td>% Change 2011/2010</td></tr><tr><td>Compensation and benefits</td><td>$326,942</td><td>$313,043</td><td>4.4%</td><td>$248,606</td><td>25.9%</td></tr><tr><td>Professional services</td><td>67,845</td><td>60,807</td><td>11.6</td><td>56,123</td><td>8.3</td></tr><tr><td>Premises and equipment</td><td>40,689</td><td>28,335</td><td>43.6</td><td>23,023</td><td>23.1</td></tr><tr><td>Business development and travel</td><td>29,409</td><td>24,250</td><td>21.3</td><td>20,237</td><td>19.8</td></tr><tr><td>Net occupancy</td><td>22,536</td><td>19,624</td><td>14.8</td><td>19,378</td><td>1.3</td></tr><tr><td>Correspondent bank fees</td><td>11,168</td><td>9,052</td><td>23.4</td><td>8,379</td><td>8.0</td></tr><tr><td>FDIC assessments</td><td>10,959</td><td>10,298</td><td>6.4</td><td>16,498</td><td>-37.6</td></tr><tr><td>Provision for unfunded credit commitments</td><td>488</td><td>4,397</td><td>-88.9</td><td>4,083</td><td>7.7</td></tr><tr><td>Other</td><td>35,962</td><td>30,822</td><td>16.7</td><td>26,491</td><td>16.3</td></tr><tr><td>Total noninterest expense</td><td>$545,998</td><td>$500,628</td><td>9.1</td><td>$422,818</td><td>18.4</td></tr></table>
<table><tr><td></td><td colspan="5">Year ended December 31,</td></tr><tr><td>Non-GAAP operating efficiency ratio, net of noncontrolling interests (Dollars in thousands, except ratios)</td><td>2012</td><td>2011</td><td>% Change 2012/2011</td><td>2010</td><td>% Change 2011/2010</td></tr><tr><td>GAAP noninterest expense</td><td>$545,998</td><td>$500,628</td><td>9.1%</td><td>$422,818</td><td>18.4%</td></tr><tr><td>Less: amounts attributable to noncontrolling interests</td><td>11,336</td><td>11,567</td><td>-2.0</td><td>12,348</td><td>-6.3</td></tr><tr><td>Less: net gain from note repurchases and termination of corresponding interest rate swaps</td><td>—</td><td>-3,123</td><td>-100.0</td><td>—</td><td>—</td></tr><tr><td>Non-GAAP noninterest expense, net of noncontrolling interests</td><td>$534,662</td><td>$492,184</td><td>8.6</td><td>$410,470</td><td>19.9</td></tr><tr><td>GAAP taxable equivalent net interest income</td><td>$619,783</td><td>$528,228</td><td>17.3</td><td>$420,186</td><td>25.7</td></tr><tr><td>Less: income attributable to noncontrolling interests</td><td>106</td><td>122</td><td>-13.1</td><td>28</td><td>NM</td></tr><tr><td>Non-GAAP taxable equivalent net interest income, net of noncontrolling interests</td><td>$619,677</td><td>$528,106</td><td>17.3</td><td>$420,158</td><td>25.7</td></tr><tr><td>GAAP noninterest income</td><td>$335,546</td><td>$382,332</td><td>-12.2</td><td>$247,530</td><td>54.5</td></tr><tr><td>Non-GAAP noninterest income, net of noncontrolling interests</td><td>240,408</td><td>222,682</td><td>8.0</td><td>168,645</td><td>32.0</td></tr><tr><td>GAAP taxable equivalent revenue</td><td>$955,329</td><td>$910,560</td><td>4.9</td><td>$667,716</td><td>36.4</td></tr><tr><td>Non-GAAP taxable equivalent revenue, net of noncontrolling interests</td><td>$860,085</td><td>$750,788</td><td>14.6</td><td>$588,803</td><td>27.5</td></tr><tr><td>GAAP operating efficiency ratio</td><td>57.15%</td><td>54.98%</td><td>3.9</td><td>63.32%</td><td>-13.2</td></tr><tr><td>Non-GAAP operating efficiency ratio -1</td><td>62.16</td><td>65.56</td><td>-5.2</td><td>69.71</td><td>-6.0</td></tr></table>

Question: In the year with largest amount of GAAP noninterest expense, what's the increasing rate of Non-GAAP noninterest expense, net of noncontrolling interests?
Answer: 0.07945