note 12 . shareholders 2019 equity accumulated other comprehensive loss : accumulated other comprehensive loss included the following components as of december 31: .

Table: ( in millions ) 2009 2008 2007 foreign currency translation $ 281 $ 68 $ 331 net unrealized loss on hedges of net investments in non-u.s . subsidiaries -14 ( 14 ) -14 ( 14 ) -15 ( 15 ) net unrealized loss on available-for-sale securities -1636 ( 1636 ) -5205 ( 5205 ) -678 ( 678 ) net unrealized loss on fair value hedges of available-for-sale securities -113 ( 113 ) -242 ( 242 ) -55 ( 55 ) losses from other-than-temporary impairment on available-for-sale securities related to factors other than credit -159 ( 159 ) 2014 2014 losses from other-than-temporary impairment on held-to-maturity securities related to factors other than credit -387 ( 387 ) 2014 2014 minimum pension liability -192 ( 192 ) -229 ( 229 ) -146 ( 146 ) net unrealized loss on cash flow hedges -18 ( 18 ) -28 ( 28 ) -12 ( 12 ) total $ -2238 ( 2238 ) $ -5650 ( 5650 ) $ -575 ( 575 )

the net after-tax unrealized loss on available-for-sale securities of $ 1.64 billion and $ 5.21 billion as of december 31 , 2009 and december 31 , 2008 , respectively , included $ 635 million and $ 1.39 billion , respectively , of net after-tax unrealized losses related to securities reclassified from securities available for sale to securities held to maturity . the decrease in the losses related to transfers compared to december 31 , 2008 resulted from amortization and from the recognition of losses from other-than-temporary impairment on certain of the securities . additional information is provided in note 3 . for the year ended december 31 , 2009 , we realized net gains of $ 368 million from sales of available-for-sale securities . unrealized pre-tax gains of $ 46 million were included in other comprehensive income at december 31 , 2008 , net of deferred taxes of $ 18 million , related to these sales . for the year ended december 31 , 2008 , we realized net gains of $ 68 million from sales of available-for-sale securities . unrealized pre-tax gains of $ 71 million were included in other comprehensive income at december 31 , 2007 , net of deferred taxes of $ 28 million , related to these sales . for the year ended december 31 , 2007 , we realized net gains of $ 7 million on sales of available-for-sale securities . unrealized pre-tax losses of $ 32 million were included in other comprehensive income at december 31 , 2006 , net of deferred taxes of $ 13 million , related to these sales . preferred stock : in october 2008 , in connection with the u.s . treasury 2019s capital purchase program , we issued 20000 shares of our series b fixed-rate cumulative perpetual preferred stock , $ 100000 liquidation preference per share , and a warrant to purchase 5576208 shares of our common stock at an exercise price of $ 53.80 per share , to treasury , and received aggregate proceeds of $ 2 billion . the aggregate proceeds were allocated to the preferred stock and the warrant based on their relative fair values on the date of issuance . as a result , approximately $ 1.88 billion and $ 121 million , respectively , were allocated to the preferred stock and the warrant . the difference between the initial value of $ 1.88 billion allocated to the preferred stock and the liquidation amount of $ 2 billion was intended to be charged to retained earnings and credited to the preferred stock over the period that the preferred stock was outstanding , using the effective yield method . for 2008 and 2009 , these charges to retained earnings reduced net income available to common shareholders by $ 4 million and $ 11 million , respectively , and reduced basic and diluted earnings per common share for those periods . these calculations are presented in note 22 . the preferred shares qualified as tier 1 regulatory capital , and paid cumulative quarterly dividends at a rate of 5% ( 5 % ) per year . for 2008 and 2009 , the accrual of dividends on the preferred shares reduced net income available to common shareholders by $ 18 million and $ 46 million , respectively , and reduced basic and diluted earnings per common share for those periods . these calculations are presented in note 22 . the warrant was immediately .

Question: what was the percent change in net unrealized loss on available-for-sale securities between 2008 and 2009?
Answer: -68%
Calculation: divide(subtract(-5205, -1636), -1636)