jpmorgan chase & co ./ 2004 annual report 29 firms were aligned to provide consistency across the business segments .in addition , expenses related to certain corporate functions , technology and operations ceased to be allocated to the business segments and are retained in corporate .these retained expenses include parent company costs that would not be incurred if the segments were stand-alone businesses ; adjustments to align certain corporate staff , technology and operations allocations with market prices ; and other one-time items not aligned with the business segments .capital allocation each business segment is allocated capital by taking into consideration stand- alone peer comparisons , economic risk measures and regulatory capital requirements .the amount of capital assigned to each business is referred to as equity .effective with the third quarter of 2004 , new methodologies were implemented to calculate the amount of capital allocated to each segment .as part of the new methodology , goodwill , as well as the associated capital , is allocated solely to corporate .although u.s .gaap requires the allocation of goodwill to the business segments for impairment testing ( see note 15 on page 109 of this annual report ) , the firm has elected not to include goodwill or the related capital in each of the business segments for management reporting purposes .see the capital management section on page 50 of this annual report for a discussion of the equity framework .credit reimbursement tss reimburses the ib for credit portfolio exposures the ib manages on behalf of clients the segments share .at the time of the merger , the reimbursement methodology was revised to be based on pre-tax earnings , net of the cost of capital related to those exposures .prior to the merger , the credit reimburse- ment was based on pre-tax earnings , plus the allocated capital associated with the shared clients .tax-equivalent adjustments segment results reflect revenues on a tax-equivalent basis for segment reporting purposes .refer to page 25 of this annual report for additional details .description of business segment reporting methodology results of the business segments are intended to reflect each segment as if it were essentially a stand-alone business .the management reporting process that derives these results allocates income and expense using market-based methodologies .at the time of the merger , several of the allocation method- ologies were revised , as noted below .the changes became effective july 1 , 2004 .as prior periods have not been revised to reflect these new methodologies , they are not comparable to the presentation of periods begin- ning with the third quarter of 2004 .further , the firm intends to continue to assess the assumptions , methodologies and reporting reclassifications used for segment reporting , and it is anticipated that further refinements may be implemented in future periods .revenue sharing when business segments join efforts to sell products and services to the firm 2019s clients , the participating business segments agree to share revenues from those transactions .these revenue sharing agreements were revised on the merger date to provide consistency across the lines of businesses .funds transfer pricing funds transfer pricing ( 201cftp 201d ) is used to allocate interest income and interest expense to each line of business and also serves to transfer interest rate risk to corporate .while business segments may periodically retain interest rate exposures related to customer pricing or other business-specific risks , the bal- ance of the firm 2019s overall interest rate risk exposure is included and managed in corporate .in the third quarter of 2004 , ftp was revised to conform the policies of the combined firms .expense allocation where business segments use services provided by support units within the firm , the costs of those support units are allocated to the business segments .those expenses are allocated based on their actual cost , or the lower of actual cost or market cost , as well as upon usage of the services provided .effective with the third quarter of 2004 , the cost allocation methodologies of the heritage segment results 2013 operating basis ( a ) ( b ) ( table continued from previous page ) year ended december 31 , operating earnings return on common equity 2013 goodwill ( c ) .
[['year ended december 31 , ( in millions except ratios )', 'year ended december 31 , 2004', 'year ended december 31 , 2003', 'year ended december 31 , change', '2004', '2003'], ['investment bank', '$ 2948', '$ 2805', '5% ( 5 % )', '17% ( 17 % )', '15% ( 15 % )'], ['retail financial services', '2199', '1547', '42', '24', '37'], ['card services', '1274', '683', '87', '17', '20'], ['commercial banking', '608', '307', '98', '29', '29'], ['treasury & securities services', '440', '422', '4', '17', '15'], ['asset & wealth management', '681', '287', '137', '17', '5'], ['corporate', '61', '668', '-91 ( 91 )', 'nm', 'nm'], ['total', '$ 8211', '$ 6719', '22% ( 22 % )', '16% ( 16 % )', '19% ( 19 % )']]
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Question: in 2004 what was the ratio of the investment bank to the retail financial services operations operating earnings
Answer: 1.34