management 2019s discussion and analysis 158 jpmorgan chase & co./2012 annual report the following table summarizes the ratings profile by derivative counterparty of the firm 2019s derivative receivables , including credit derivatives , net of other liquid securities collateral , for the dates indicated . ratings profile of derivative receivables .

Table: rating equivalent december 31 ( in millions except ratios ) rating equivalent exposure net of all collateral rating equivalent % (  % ) of exposure net of all collateral exposure net of all collateral % (  % ) of exposure net of all collateral aaa/aaa to aa-/aa3 $ 20040 33% ( 33 % ) $ 25100 35% ( 35 % ) a+/a1 to a-/a3 12169 20 22942 32 bbb+/baa1 to bbb-/baa3 18197 29 9595 14 bb+/ba1 to b-/b3 9636 16 10545 15 ccc+/caa1 and below 1283 2 2488 4 total $ 61325 100% ( 100 % ) $ 70670 100% ( 100 % )

as noted above , the firm uses collateral agreements to mitigate counterparty credit risk . the percentage of the firm 2019s derivatives transactions subject to collateral agreements 2013 excluding foreign exchange spot trades , which are not typically covered by collateral agreements due to their short maturity 2013 was 88% ( 88 % ) as of december 31 , 2012 , unchanged compared with december 31 , 2011 . credit derivatives credit derivatives are financial instruments whose value is derived from the credit risk associated with the debt of a third party issuer ( the reference entity ) and which allow one party ( the protection purchaser ) to transfer that risk to another party ( the protection seller ) when the reference entity suffers a credit event . if no credit event has occurred , the protection seller makes no payments to the protection purchaser . for a more detailed description of credit derivatives , see credit derivatives in note 6 on pages 218 2013227 of this annual report . the firm uses credit derivatives for two primary purposes : first , in its capacity as a market-maker ; and second , as an end-user , to manage the firm 2019s own credit risk associated with various exposures . included in end-user activities are credit derivatives used to mitigate the credit risk associated with traditional lending activities ( loans and unfunded commitments ) and derivatives counterparty exposure in the firm 2019s wholesale businesses ( 201ccredit portfolio management 201d activities ) . information on credit portfolio management activities is provided in the table below . in addition , the firm uses credit derivatives as an end-user to manage other exposures , including credit risk arising from certain afs securities and from certain securities held in the firm 2019s market making businesses . these credit derivatives , as well as the synthetic credit portfolio , are not included in credit portfolio management activities ; for further information on these credit derivatives as well as credit derivatives used in the firm 2019s capacity as a market maker in credit derivatives , see credit derivatives in note 6 on pages 226 2013227 of this annual report. .

Question: what was the percent of the derivative receivables total exposure net of all collateral that was a+/a1 to a-/a3
Answer: 19.8%
Calculation: divide(12169, 61325)