which , $ 44.9 million , or $ 38.2 million , net of taxes , is expected to be reclassified to earnings over the next twelve months .we also enter into foreign currency forward exchange contracts with terms of one month to manage currency exposures for assets and liabilities denominated in a currency other than an entity 2019s functional currency .as a result , any foreign currency translation gains/losses recognized in earnings under sfas no .52 , 201cforeign currency translation 201d are generally offset with gains/losses on the foreign currency forward exchange contracts in the same reporting period .other comprehensive income 2013 other comprehensive income refers to revenues , expenses , gains and losses that under generally accepted accounting principles are included in comprehensive income but are excluded from net earnings as these amounts are recorded directly as an adjustment to stockholders 2019 equity .other comprehensive income is comprised of foreign currency translation adjustments , unrealized foreign currency hedge gains and losses , unrealized gains and losses on available-for-sale securities and amortization of prior service costs and unrecognized gains and losses in actuarial assumptions .the components of accumulated other comprehensive income are as follows ( in millions ) : balance at december 31 , comprehensive income ( loss ) balance at december 31 .
[['', 'balance at december 31 2006', 'other comprehensive income ( loss )', 'balance at december 31 2007'], ['foreign currency translation', '$ 267.7', '$ 101.1', '$ 368.8'], ['foreign currency hedges', '-22.6 ( 22.6 )', '-22.8 ( 22.8 )', '-45.4 ( 45.4 )'], ['unrealized gains ( losses ) on securities', '-0.5 ( 0.5 )', '-1.4 ( 1.4 )', '-1.9 ( 1.9 )'], ['unrecognized prior service cost and unrecognized ( gain ) / loss in actuarial assumptions', '-35.4 ( 35.4 )', '4.2', '-31.2 ( 31.2 )'], ['accumulated other comprehensive income', '$ 209.2', '$ 81.1', '$ 290.3']]
treasury stock 2013 we account for repurchases of common stock under the cost method and present treasury stock as a reduction of shareholders equity .we may reissue common stock held in treasury only for limited purposes .accounting pronouncements 2013 in june 2006 , the fasb issued interpretation no .48 , 201caccounting for uncertainty in income taxes , an interpretation of fas 109 , accounting for income taxes 201d ( fin 48 ) , to create a single model to address accounting for uncertainty in tax positions .see our income tax disclosures in note 11 for more information regarding the adoption of fin 48 .in september 2006 , the fasb issued sfas no .158 , 201cemployers 2019 accounting for defined benefit pension and other postretirement plans 2013 an amendment of fasb statements no .87 , 88 , 106 and 132 ( r ) . 201d this statement requires recognition of the funded status of a benefit plan in the statement of financial position .sfas no .158 also requires recognition in other comprehensive income of certain gains and losses that arise during the period but are deferred under pension accounting rules , as well as modifies the timing of reporting and adds certain disclosures .the statement provides recognition and disclosure elements to be effective as of the end of the fiscal year after december 15 , 2006 and measurement elements to be effective for fiscal years ending after december 15 , 2008 .we adopted sfas no .158 on december 31 , 2006 .see our pension and other postretirement disclosures in note 10 .in december 2004 , the fasb issued sfas no .123 ( r ) , 201cshare-based payment 201d , which is a revision to sfas no .123 .sfas 123 ( r ) requires all share-based payments to employees , including stock options , to be expensed based on their fair values .we adopted sfas 123 ( r ) on january 1 , 2006 using the modified prospective method and did not restate prior periods .in september 2006 , the fasb issued sfas no .157 , 201cfair value measurements 201d , which defines fair value , establishes a framework for measuring fair value in generally accepted accounting principles and expands disclosures about fair value measurements .this statement does not require any new fair value measurements , but provides guidance on how to measure fair value by providing a fair value hierarchy used to classify the source of the information .sfas no .157 is effective for financial statements issued for fiscal years beginning after november 15 , 2007 and interim periods within those fiscal years .in february 2008 , the fasb issued fasb staff position ( fsp ) no .sfas 157-2 , which delays the effective date of certain provisions of sfas no .157 relating to non-financial assets and liabilities measured at fair value on a non-recurring basis until fiscal years beginning after november 15 , 2008 .the adoption of sfas no .157 is not expected to have a material impact on our consolidated financial statements or results of operations .in february 2007 , the fasb issued sfas no .159 , 201cthe fair value option for financial assets and financial liabilities 2013 including an amendment of fasb statement no .115 201d ( sfas no .159 ) .sfas no .159 creates a 201cfair value option 201d under which an entity may elect to record certain financial assets or liabilities at fair value upon their initial recognition .subsequent changes in fair value would be recognized in earnings as those changes occur .the election of the fair value option would be made on a contract-by-contract basis and would need to be supported by concurrent documentation or a preexisting documented policy .sfas no .159 requires an entity to separately disclose the fair z i m m e r h o l d i n g s , i n c .2 0 0 7 f o r m 1 0 - k a n n u a l r e p o r t notes to consolidated financial statements ( continued ) .

Question: what percent of gains were lost due to foreign currency hedges?
Answer: 12.31%