Amounts Recorded In Accumulated Other Comprehensive Loss Unrealized losses from interest rate cash flow hedges recorded in AOCI as of May 27, 2012, totaled $73.6 million after tax.
These deferred losses are primarily related to interest rate swaps that we entered into in contemplation of future borrowings and other financing requirements and that are being reclassified into net interest over the lives of the hedged forecasted transactions.
Unrealized losses from foreign currency cash flow hedges recorded in AOCI as of May 27, 2012, were $1.7 million after-tax.
The net amount of pre-tax gains and losses in AOCI as of May 27, 2012, that we expect to be reclassified into net earnings within the next 12 months is $14.0 million of expense.
Credit-Risk-Related Contingent Features Certain of our derivative instruments contain provisions that require us to maintain an investment grade credit rating on our debt from each of the major credit rating agencies.
If our debt were to fall below investment grade, the counterparties to the derivative instruments could request full collateralization on derivative instruments in net liability positions.
The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position on May 27, 2012, was $19.9 million.
We have posted collateral of $4.3 million in the normal course of business associated with these contracts.
If the credit-risk-related contingent features underlying these agreements had been triggered on May 27, 2012, we would have been required to post an additional $15.6 million of collateral to counterparties.
Concentrations Of Credit And Counterparty Credit Risk During fiscal 2012, Wal-Mart Stores, Inc.  and its affiliates (Wal-Mart) accounted for 22 percent of our consolidated net sales and 30 percent of our net sales in the U. S.  Retail segment.
No other customer accounted for 10 percent or more of our consolidated net sales.
WalMart also represented 6 percent of our net sales in the International segment and 7 percent of our net sales in the Bakeries and Foodservice segment.
As of May 27, 2012, Wal-Mart accounted for 26 percent of our U. S.  Retail receivables, 5 percent of our International receivables, and 9 percent of our Bakeries and Foodservice receivables.
The five largest customers in our U. S.  Retail segment accounted for 54 percent of its fiscal 2012 net sales, the five largest customers in our International segment accounted for 26 percent of its fiscal 2012 net sales, and the five largest customers in our Bakeries and Foodservice segment accounted for 46 percent of its fiscal 2012 net sales.
We enter into interest rate, foreign exchange, and certain commodity and equity derivatives, primarily with a diversified group of highly rated counterparties.
We continually monitor our positions and the credit ratings of the counterparties involved and, by policy, limit the amount of credit exposure to any one party.
These transactions may expose us to potential losses due to the risk of nonperformance by these counterparties; however, we have not incurred a material loss.
We also enter into commodity futures transactions through various regulated exchanges.
The amount of loss due to the credit risk of the counterparties, should the counterparties fail to perform according to the terms of the contracts, is $19.5 million against which we do not hold collateral.
Under the terms of master swap agreements, some of our transactions require collateral or other security to support financial instruments subject to threshold levels of exposure and counterparty credit risk.
Collateral assets are either cash or U. S.  Treasury instruments and are held in a trust account that we may access if the counterparty defaults.
NOTE 8.
DEBT Notes Payable The components of notes payable and their respective weighted-average interest rates at the end of the periods were as follows:
||May 27, 2012|May 29, 2011|
|In Millions|Notes Payable|Weighted- Average Interest Rate|NotesPayable|Weighted-AverageInterest Rate|
|U.S. commercial paper|$412.0|0.2%|$192.5|0.2%|
|Financial institutions|114.5|10.0|118.8|11.5|
|Total|$526.5|2.4%|$311.3|4.5%|

To ensure availability of funds, we maintain bank credit lines sufficient to cover our outstanding shortterm borrowings.
Commercial paper is a continuing source of short-term financing.
We have commercial paper programs available to us in the United States and Europe.
In April 2012, we entered into fee-paid committed credit lines, consisting of a $1.0 billion facility scheduled to expire in April 2015 and a $1.7 billion facility
Receivables and Other Assets: Brokerage client receivables, receivables from broker-dealers and clearing organizations, stock borrowed receivables, other receivables and certain other assets are recorded at amounts that approximate fair value.
RJ Bank holds stock in the FHLB, which is restricted and lacks a market.
FHLB stock can only be sold to the FHLB or another member institution at its par value.
Cost was used to estimate the fair value.
In addition, RJ Bank holds a small Community Reinvestment Act investment for which cost approximates fair value.
Bank Deposits: The fair values for demand deposits are equal to the amount payable on demand at the reporting date (that is, their carrying amounts).
The carrying amounts of variable-rate money-market and savings accounts approximate their fair values at the reporting date as these are short-term in nature.
Fair values for fixed-rate certificate accounts are estimated using a discounted cash flow calculation that applies interest rates currently being offered on certificates to a schedule of expected monthly maturities on time deposits.
Payables: Brokerage client payables, payables due to broker-dealers and clearing organizations, stock loaned payables, and trade and other payables are recorded at amounts that approximate fair value.
Other Borrowings: The fair value of the FHLB advances held at RJ Bank is based on the discounted value of contractual cash flows.
The discount rate is estimated using the rates currently offered by creditors for advances of similar terms and remaining maturities.
Corporate Debt: The fair value of the mortgage note payable associated with the financing of our home office complex is based upon an estimate of the current market rates for similar loans.
The fair value of our senior notes due August 2019 is based upon recent trades of those debt securities in the market.
Off-Balance Sheet Financial Instruments: The fair value of letters of credit and unfunded commitments to extend credit is based on the fees currently charged to enter into similar agreements.
The aggregate of these fees is not material, and therefore are excluded from the table below.
These instruments are further referenced in Note 22 of the Notes to the Consolidated Financial Statements.
For those financial instruments which the fair value is not reflected on the Consolidated Statements of Financial Condition, we have estimated their fair value in part, based upon our assumptions, the estimated amount and timing of future cash flows and estimated discount rates.
Different assumptions could significantly affect these estimated fair values.
Accordingly, the net realizable values could be materially different from the estimates presented below.
In addition, the estimates are only indicative of the value of individual financial instruments and should not be considered an indication of our fair value.
We are not required to disclose the fair value of non-financial instruments including property, equipment and leasehold improvements as well as goodwill.
The carrying amounts and estimated fair values of our financial instruments that are not carried at fair value at September 30, 2009 and 2008 are as follows:
||September 30, 2009|September 30, 2008|
||Carrying Amount|Estimated Fair Value|Carrying Amount|Estimated Fair Value|
||(in 000’s)|
|Financial Assets:|||||
|Bank Loans, Net|$ 6,593,973|$ 6,597,496|$ 7,095,227|$ 7,086,596|
|Financial Liabilities:|||||
|Bank Deposits|9,423,387|9,428,892|8,774,457|8,778,299|
|Other Borrowings|980,000|982,741|2,150,000|2,151,939|
|Corporate Debt|359,034|398,108|62,224|59,704|

The following table shows the contractual maturities of RJ Bank’s loan portfolio at September 30, 2009, including contractual principal repayments.
This table does not, however, include any estimates of prepayments.
These prepayments could significantly shorten the average loan lives and cause the actual timing of the loan repayments to differ from those shown in the following table:
||Due in||
||1 Year or Less|1 Year – 5 Years|>5 Years|Total|
||(in 000’s)|
|Commercial Loans|$ 46,640|$ 656,150|$ 148,867|$ 851,657|
|Real Estate Construction Loans|16,307|129,784|17,860|163,951|
|Commercial Real Estate Loans -1|469,227|2,760,796|113,966|3,343,989|
|Residential Mortgage Loans|348|11,717|2,386,757|2,398,822|
|Consumer Loans|2,371|547|19,898|22,816|
|Total Loans|$ 534,893|$ 3,558,994|$ 2,687,348|$ 6,781,235|

(1) Of this amount, $1.2 billion is secured by non-owner occupied commercial real estate properties or their repayment is dependent upon the operation or sale of commercial real estate properties as of September 30, 2009.
The remainder is wholly or partially secured by real estate, the majority of which is also secured by other assets of the borrower.
RJ Bank’s nonperforming loans are comprised of loans where management has determined that full and timely collection of interest and principal is in doubt, loans which are 90 days past due and those loans which are troubled debt restructurings.
Nonperforming assets include other real estate acquired through foreclosure or by deed in lieu of foreclosure in addition to all nonperforming loans.
Some states require a redemption period on foreclosures, which could prolong the amount of time it may take to foreclose on a property.
RJ Bank has two properties totaling $484,000 of the total 23 properties owned which are still subject to redemption, however; no properties have ever been redeemed from RJ Bank.
The following table presents the comparative data for nonperforming loans and assets:
||September 30, 2009|September 30, 2008|September 30, 2007|September 30, 2006|September 30, 2005|
||($ in 000’s)|
|Nonaccrual Loans:||||||
|Corporate|$ 73,961|$ 37,462|$ -|$ -|$ -|
|Residential/Consumer|55,097|14,571|1,391|2,091|117|
|Total|129,058|52,033|1,391|2,091|117|
|Accruing Loans Which are 90 Days||||||
|Past Due:||||||
|Corporate|12,461|-|682|-|550|
|Residential/Consumer|16,863|6,131|1,992|-|650|
|Total|29,324|6,131|2,674|-|1,200|
|Total Nonperforming Loans|158,382|58,164|4,065|2,091|1,317|
|Real Estate Owned and Other||||||
|Repossessed Assets, Net:||||||
|Corporate|4,646|1,928|-|-|-|
|Residential/Consumer|4,045|2,216|1,653|-|-|
|Total|8,691|4,144|1,653|-|-|
|Total Nonperforming Assets, Net|$ 167,073|$ 62,308|$ 5,718|$ 2,091|$ 1,317|
|Total Nonperforming Assets as a % of||||||
|Total Loans, Net and Other Real||||||
|Estate Owned, Net|2.53%|0.88%|0.12%|0.09%|0.13%|

As of September 30, 2009, RJ Bank had commitments to lend $5.2 million to borrowers whose loans were classified as nonperforming
Restricted Stock Plan Under the 2005 Restricted Stock Plan we are authorized to issue up to 10,425,000 restricted stock units or restricted shares of common stock to employees and independent contractors.
Restricted stock grants under the 2005 Plan are limited to 2,000,000 shares per fiscal year.
The 2005 Plan was established to replace, on substantially the same terms and conditions, the 1999 Plan.
During the three months ended March 31, 2006, this plan was amended to allow the issuance of restricted stock units as retention measures for certain employees of our Canadian subsidiary.
In addition, we, through that Canadian subsidiary, established a trust fund which is associated with the 2005 Plan.
This trust fund was established and funded to enable the trust fund to acquire our common stock in the open market to be used to settle restricted stock units granted as a retention vehicle for certain employees of the Canadian subsidiary.
Awards under this plan may be granted by us in connection with initial employment or under various retention plans for individuals who are responsible for a contribution to the management, growth, and/or profitability.
These awards are forfeitable in the event of termination other than for death, disability or retirement.
The compensation cost is recognized over the applicable vesting period of the awards and is calculated as the market value of the awards on the date of grant.
The following employee related activity occurred during the fiscal year ended September 30, 2009:
||Shares/Units|Weighted Average Grant Date Fair Value ($)|
|Nonvested at|||
|October 1, 2008|3,148,352|$ 27.23|
|Granted|1,027,000|17.63|
|Vested|-426,174|21.86|
|Forfeited|-89,064|25.25|
|Nonvested at|||
|September 30, 2009|3,660,114|$ 25.18|

Share-based compensation expense and income tax benefits related to our Restricted Stock Plan is presented below:
||Year Ended September 30,|
||2009|2008|2007|
||(in 000's)|
|Total share-based compensation expense|$ 18,707|$ 17,486|$ 11,731|
|Income tax benefits related to share-based compensation|7,025|6,645|4,458|

As of September 30, 2009, there was $48.2 million of total unrecognized pre-tax compensation cost, net of estimated forfeitures, related to grants under our Restricted Stock Plan.
These costs are expected to be recognized over a weighted average period of approximately 3.46 years.
The total fair value of shares vested under this plan during the fiscal year ended September 30, 2009 was $9.3 million.
Employee Stock Purchase Plan Under the 2003 Employee Stock Purchase Plan, we are authorized to issue up to 7,375,000 shares of common stock to our full-time employees, nearly all of whom are eligible to participate.
Under the terms of the Plan, employees can choose each year to have up to 20% of their annual compensation specified to purchase our common stock.
Share purchases in any calendar year are limited to the lesser of 1,000 shares or shares with a fair market value of $25,000.
The purchase price of the stock is 85% of the market price on the day prior to the purchase date.
Under the Plan we sold approximately 532,000, 725,000 and 444,000 shares to employees during the years ended September 30, 2009, September 30, 2008 and September 30, 2007, respectively.
The compensation cost is calculated as the value of the 15% discount from market value and was $1.3 million, $2.9 million and $2.1 million during the years ended September 30, 2009, September 30, 2008 and September 30, 2007, respectively.
In the normal course of business, we enter into underwriting commitments.
RJ&A and RJ Ltd. , as a lead, co-lead or syndicate member in the underwriting deal, may be subject to market risk on any unsold shares issued in the offering to which we are committed.
Risk exposure is controlled by limiting participation, the deal size or through the syndication process.
Interest Rate Risk We are exposed to interest rate risk as a result of maintaining trading inventories of fixed income instruments and actively manage this risk using hedging techniques that involve swaps, futures, and U. S.  Treasury and agency MBS passthrough obligations.
We monitor, on a daily basis, the Value-at-Risk (“VaR”) in our institutional Fixed Income trading portfolios (cash instruments and interest rate derivatives).
VaR is a statistical technique for estimating the potential loss in trading portfolios due to typical adverse market movements over a specified time horizon at a particular confidence level.
To calculate VaR, we use historical simulation.
This approach assumes that historical changes in market conditions are representative of future changes.
The simulation is based upon daily market data for the previous twelve months.
VaR is reported at a 99% confidence level, based on a one-day time horizon.
This means that we could expect to incur losses greater than those predicted by the VaR estimates only once in every 100 trading days, or about 2.5 times a year on average over the course of time.
During the fiscal year ended September 30, 2009, the reported daily loss in the institutional Fixed Income trading portfolio exceeded the predicted VaR one time.
However, trading losses on a single day could exceed the reported VaR by significant amounts in unusually volatile markets and might accumulate over a longer time horizon, such as a number of consecutive trading days.
Accordingly, we employ additional interest rate risk controls including stress testing, position limits, a daily review of trading results, review of the status of aged inventory, independent controls on pricing, monitoring of concentration risk and review of issuer ratings.
The following table sets forth the high, low and daily average VaR for our overall institutional portfolio during the fiscal year ended September 30, 2009, with the corresponding dollar value of our portfolio:

Question: What is the sum of the Total Loans in the sections where Commercial Loans is positive? (in thousand)

Solution:
def solution():
    # Define variables name and value
    commercial_loans_positive = 534893
    loans_1_year_to_5_years = 3558994
    loans_greater_than_5_years = 2687348

    # Do math calculation to get the answer
    answer = commercial_loans_positive + loans_1_year_to_5_years + loans_greater_than_5_years
    
    return answer

solution()
Answer: 6781235