Huntington believes the general partner of each limited partnership has the power to direct the activities which most significantly affect their performance of each partnership, therefore, Huntington has determined that it is not the primary beneficiary of any LIHTC partnership.
Huntington uses the equity or effective yield method to account for its investments in these entities.
These investments are included in accrued income and other assets.
At December 31, 2012 and 2011, Huntington has commitments of $391.9 million and $376.1 million, respectively, of which $380.0 million and $322.5 million, respectively, were funded.
The unfunded portion is included in accrued expenses and other liabilities.22.
COMMITMENTS AND CONTINGENT LIABILITIES Commitments to extend credit In the ordinary course of business, Huntington makes various commitments to extend credit that are not reflected in the Consolidated Financial Statements.
The contract amounts of these financial agreements at December 31, 2012, and December 31, 2011, were as follows:
## Table 0 ##
Commitments to extend credit generally have fixed expiration dates, are variable-rate, and contain clauses that permit Huntington to terminate or otherwise renegotiate the contracts in the event of a significant deterioration in the customer’s credit quality.
These arrangements normally require the payment of a fee by the customer, the pricing of which is based on prevailing market conditions, credit quality, probability of funding, and other relevant factors.
Since many of these commitments are expected to expire without being drawn upon, the contract amounts are not necessarily indicative of future cash requirements.
The interest rate risk arising from these financial instruments is insignificant as a result of their predominantly short-term, variable-rate nature.
Standby letters-of-credit are conditional commitments issued to guarantee the performance of a borrower to a third party.
These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions.
Most of these arrangements mature within two years.
The carrying amount of deferred revenue associated with these guarantees was $1.4 million and $1.6 million at December 31, 2012 and 2011, respectively.
Through the Company’s credit process, Huntington monitors the credit risks of outstanding standby letters-of-credit.
When it is probable that a standby letter-of-credit will be drawn and not repaid in full, losses are recognized in the provision for credit losses.
At December 31, 2012, Huntington had $515 million of standby letters-of-credit outstanding, of which 80% were collateralized.
Included in this $515 million total are letters-of-credit issued by the Bank that support securities that were issued by customers and remarketed by The Huntington Investment Company, the Company’s broker-dealer subsidiary.
Huntington uses an internal loan grading system to assess an estimate of loss on its loan and lease portfolio.
The same loan grading system is used to help monitor credit risk associated with standby letters-of-credit.
Under this risk rating system as of December 31, 2012, approximately $93 million of the standby letters-of-credit were rated strong with sufficient asset quality, liquidity, and good debt capacity and coverage, approximately $393 million were rated average with acceptable asset quality, liquidity, and modest debt capacity; and approximately $29 million were rated substandard with negative financial trends, structural weaknesses, operating difficulties, and higher leverage.
Commercial letters-of-credit represent short-term, self-liquidating instruments that facilitate customer trade transactions and generally have maturities of no longer than 90 days.
The goods or cargo being traded normally secures these instruments.
Commitments to sell loans Huntington enters into forward contracts relating to its mortgage banking business to hedge the exposures from commitments to make new residential mortgage loans with existing customers and from mortgage loans classified as loans held for sale.
At December 31, 2012 and 2011, Huntington had commitments to sell residential real estate loans of $849.8 million and $629.0 million, respectively.
These contracts mature in less than one year.
The table below provides the composition of our total loan and lease portfolio: Table 9 - Loan and Lease Portfolio Composition
## Table 1 ##
(1) As defined by regulatory guidance, there were no commercial loans outstanding that would be considered a concentration of lending to a particular industry or group of industries.
(2) 2011 included a decrease of $1.3 billion resulting from the transfer of automobile loans to loans held for a sale reflecting an automobile securitization transaction completed in 2012.2010 included an increase of $0.5 billion resulting from the adoption of a new accounting standard to consolidate a previously off-balance sheet automobile loan securitization transaction.
As shown in the table above, our loan portfolio is diversified by consumer and commercial credit.
We designate specific loan types, collateral types, and loan structures as part of our credit concentration policy.
C&I lending by segment, specific limits for CRE primary project types, loans secured by residential real estate, shared national credit exposure, and unsecured lending represent examples of specifically tracked components of our concentration management process.
Our concentration management process is approved by our board of directors and is one of the strategies utilized to ensure a high quality, well diversified portfolio that is consistent with our overall objective of maintaining an aggregate moderate-to-low risk profile.
The table below provides our total loan and lease portfolio segregated by the primary type of collateral securing the loan or lease: Table 10 - Total Loan and Lease Portfolio by Collateral Type
## Table 2 ##
Contributions and Expected Benefit Payments The funding of our qualified defined benefit pension plans is determined in accordance with ERISA, as amended by the PPA, and in a manner consistent with CAS and Internal Revenue Code rules.
There were no contributions to our legacy qualified defined benefit pension plans during 2016.
We do not plan to make contributions to our legacy pension plans in 2017 because none are required using current assumptions including investment returns on plan assets.
We made $23 million in contributions during 2016 to our newly established Sikorsky pension plan and expect to make $45 million in contributions to this plan during 2017.
The following table presents estimated future benefit payments, which reflect expected future employee service, as of December 31, 2016 (in millions):
## Table 3 ##
Defined Contribution Plans We maintain a number of defined contribution plans, most with 401(k) features, that cover substantially all of our employees.
Under the provisions of our 401(k) plans, we match most employees’ eligible contributions at rates specified in the plan documents.
Our contributions were $617 million in 2016, $393 million in 2015 and $385 million in 2014, the majority of which were funded in our common stock.
Our defined contribution plans held approximately 36.9 million and 40.0 million shares of our common stock as of December 31, 2016 and 2015.
Note 12 – Stockholders’ Equity At December 31, 2016 and 2015, our authorized capital was composed of 1.5 billion shares of common stock and 50 million shares of series preferred stock.
Of the 290 million shares of common stock issued and outstanding as of December 31, 2016, 289 million shares were considered outstanding for consolidated balance sheet presentation purposes; the remaining shares were held in a separate trust.
Of the 305 million shares of common stock issued and outstanding as of December 31, 2015, 303 million shares were considered outstanding for consolidated balance sheet presentation purposes; the remaining shares were held in a separate trust.
No shares of preferred stock were issued and outstanding at December 31, 2016 or 2015.
Repurchases of Common Stock During 2016, we repurchased 8.9 million shares of our common stock for $2.1 billion.
During 2015 and 2014, we paid $3.1 billion and $1.9 billion to repurchase 15.2 million and 11.5 million shares of our common stock.
On September 22, 2016, our Board of Directors approved a $2.0 billion increase to our share repurchase program.
Inclusive of this increase, the total remaining authorization for future common share repurchases under our program was $3.5 billion as of December 31, 2016.
As we repurchase our common shares, we reduce common stock for the $1 of par value of the shares repurchased, with the excess purchase price over par value recorded as a reduction of additional paid-in capital.
Due to the volume of repurchases made under our share repurchase program, additional paid-in capital was reduced to zero, with the remainder of the excess purchase price over par value of $1.7 billion and $2.4 billion recorded as a reduction of retained earnings in 2016 and 2015.
We paid dividends totaling $2.0 billion ($6.77 per share) in 2016, $1.9 billion ($6.15 per share) in 2015 and $1.8 billion ($5.49 per share) in 2014.
We have increased our quarterly dividend rate in each of the last three years, including a 10% increase in the quarterly dividend rate in the fourth quarter of 2016.
We declared quarterly dividends of $1.65 per share during each of the first three quarters of 2016 and $1.82 per share during the fourth quarter of 2016; $1.50 per share during each of the first three quarters of 2015 and $1.65 per share during the fourth quarter of 2015; and $1.33 per share during each of the first three quarters of 2014 and $1.50 per share during the fourth quarter of 2014.

<table><tr><td></td><td colspan="2">At December 31,</td></tr><tr><td><i>(dollar amounts in thousands)</i></td><td> 2012</td><td>2011</td></tr><tr><td> Contract amount represents credit risk</td><td></td><td></td></tr><tr><td>Commitments to extend credit</td><td></td><td></td></tr><tr><td>Commercial</td><td>$9,209,094</td><td>$8,006,068</td></tr><tr><td>Consumer</td><td>6,189,447</td><td>5,903,840</td></tr><tr><td>Commercial real estate</td><td>797,605</td><td>609,791</td></tr><tr><td>Standby letters of credit</td><td>514,705</td><td>585,791</td></tr></table>
<table><tr><td></td><td colspan="10">At December 31,</td></tr><tr><td><i>(dollar amounts in millions)</i></td><td colspan="2">2012</td><td colspan="2">2011</td><td colspan="2">2010</td><td colspan="2">2009</td><td colspan="2">2008</td></tr><tr><td>Commercial:<sup>-1</sup></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Commercial and industrial</td><td>$16,971</td><td>42%</td><td>$14,699</td><td>38%</td><td>$13,063</td><td>34%</td><td>$12,888</td><td>35%</td><td>$13,541</td><td>33%</td></tr><tr><td>Commercial real estate:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Construction</td><td>648</td><td>2</td><td>580</td><td>1</td><td>650</td><td>2</td><td>1,469</td><td>4</td><td>2,080</td><td>5</td></tr><tr><td>Commercial</td><td>4,751</td><td>12</td><td>5,246</td><td>13</td><td>6,001</td><td>16</td><td>6,220</td><td>17</td><td>8,018</td><td>20</td></tr><tr><td>Total commercial real estate</td><td>5,399</td><td>14</td><td>5,826</td><td>14</td><td>6,651</td><td>18</td><td>7,689</td><td>21</td><td>10,098</td><td>25</td></tr><tr><td>Total commercial</td><td>22,370</td><td>56</td><td>20,525</td><td>52</td><td>19,714</td><td>52</td><td>20,577</td><td>56</td><td>23,639</td><td>58</td></tr><tr><td>Consumer:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Automobile<sup>-2</sup></td><td>4,634</td><td>11</td><td>4,458</td><td>11</td><td>5,614</td><td>15</td><td>3,390</td><td>9</td><td>4,464</td><td>11</td></tr><tr><td>Home equity</td><td>8,335</td><td>20</td><td>8,215</td><td>21</td><td>7,713</td><td>20</td><td>7,563</td><td>21</td><td>7,557</td><td>18</td></tr><tr><td>Residential mortgage</td><td>4,970</td><td>12</td><td>5,228</td><td>13</td><td>4,500</td><td>12</td><td>4,510</td><td>12</td><td>4,761</td><td>12</td></tr><tr><td>Other consumer</td><td>419</td><td>1</td><td>498</td><td>3</td><td>566</td><td>1</td><td>751</td><td>2</td><td>671</td><td>1</td></tr><tr><td>Total consumer</td><td>18,358</td><td>44</td><td>18,399</td><td>48</td><td>18,393</td><td>48</td><td>16,214</td><td>44</td><td>17,453</td><td>42</td></tr><tr><td>Total loans and leases</td><td>$40,728</td><td>100%</td><td>$38,924</td><td>100%</td><td>$38,107</td><td>100%</td><td>$36,791</td><td>100%</td><td>$41,092</td><td>100%</td></tr></table>
<table><tr><td></td><td colspan="10">At December 31,</td></tr><tr><td><i>(dollar amounts in millions)</i></td><td colspan="2">2012</td><td colspan="2">2011</td><td colspan="2">2010</td><td colspan="2">2009</td><td colspan="2">2008</td></tr><tr><td>Secured loans:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Real estate—commercial</td><td>$9,128</td><td>22%</td><td>$9,557</td><td>25%</td><td>$10,389</td><td>27%</td><td>$11,286</td><td>31%</td><td>$13,121</td><td>32%</td></tr><tr><td>Real estate—consumer</td><td>13,305</td><td>33</td><td>13,444</td><td>35</td><td>12,214</td><td>32</td><td>12,176</td><td>33</td><td>12,318</td><td>30</td></tr><tr><td>Vehicles</td><td>6,659</td><td>16</td><td>6,021</td><td>15</td><td>7,134</td><td>19</td><td>4,600</td><td>13</td><td>6,063</td><td>15</td></tr><tr><td>Receivables/Inventory</td><td>5,178</td><td>13</td><td>4,450</td><td>11</td><td>3,763</td><td>10</td><td>3,582</td><td>10</td><td>3,915</td><td>10</td></tr><tr><td>Machinery/Equipment</td><td>2,749</td><td>7</td><td>1,994</td><td>5</td><td>1,766</td><td>5</td><td>1,772</td><td>5</td><td>1,916</td><td>5</td></tr><tr><td>Securities/Deposits</td><td>826</td><td>2</td><td>800</td><td>2</td><td>734</td><td>2</td><td>1,145</td><td>3</td><td>862</td><td>2</td></tr><tr><td>Other</td><td>1,090</td><td>3</td><td>1,018</td><td>3</td><td>990</td><td>2</td><td>1,124</td><td>2</td><td>1,231</td><td>2</td></tr><tr><td>Total secured loans and leases</td><td>38,935</td><td>96</td><td>37,284</td><td>96</td><td>36,990</td><td>97</td><td>35,685</td><td>97</td><td>39,426</td><td>96</td></tr><tr><td>Unsecured loans and leases</td><td>1,793</td><td>4</td><td>1,640</td><td>4</td><td>1,117</td><td>3</td><td>1,106</td><td>3</td><td>1,666</td><td>4</td></tr><tr><td>Total loans and leases</td><td>$40,728</td><td>100%</td><td>$38,924</td><td>100%</td><td>$38,107</td><td>100%</td><td>$36,791</td><td>100%</td><td>$41,092</td><td>100%</td></tr></table>
<table><tr><td></td><td>2017</td><td>2018</td><td>2019</td><td>2020</td><td>2021</td><td>2022 – 2026</td></tr><tr><td>Qualified defined benefit pension plans</td><td>$2,260</td><td>$2,340</td><td>$2,420</td><td>$2,510</td><td>$2,590</td><td>$13,920</td></tr><tr><td>Retiree medical and life insurance plans</td><td>180</td><td>180</td><td>190</td><td>190</td><td>190</td><td>870</td></tr></table>

Question: What will Commercial and industrial be like in 2013 if it develops with the same increasing rate as current? (in million)
Answer: 19594.17926