Notes to Consolidated Financial Statements See Notes 6 and 7 for further information about fair value measurements of cash instruments and derivatives, respectively, included in “Financial instruments owned, at fair value” and “Financial instruments sold, but not yet purchased, at fair value,” and Note 8 for further information about fair value measurements of other financial assets and financial liabilities accounted for at fair value under the fair value option.
The table below presents financial assets and financial liabilities accounted for at fair value under the fair value option or in accordance with other U. S.  GAAP.
In the table below, cash collateral and counterparty netting represents the impact on derivatives of netting across levels of the fair value hierarchy.
Netting among positions classified in the same level is included in that level.
## Table 0 ##
Level 3 financial assets as of December 2013 decreased compared with December 2012, primarily reflecting a decrease in derivative assets, bank loans and bridge loans, and loans and securities backed by commercial real estate.
The decrease in derivative assets primarily reflected a decline in credit derivative assets, principally due to settlements and unrealized losses.
The decrease in bank loans and bridge loans, and loans and securities backed by commercial real estate primarily reflected settlements and sales, partially offset by purchases and transfers into level 3.
Level 3 financial liabilities as of December 2013 decreased compared with December 2012, primarily reflecting a decrease in other liabilities and accrued expenses, principally due to the sale of a majority stake in the firm’s European insurance business in December 2013.
See Notes 6, 7 and 8 for further information about level 3 cash instruments, derivatives and other financial assets and financial liabilities accounted for at fair value under the fair value option, respectively, including information about significant unrealized gains and losses, and transfers in and out of level 3.
THE GOLDMAN SACHS GROUP, INC.  AND SUBSIDIARIES Notes to Consolidated Financial Statements The table below presents the weighted average key economic assumptions used in measuring the fair value of mortgage-backed retained interests and the sensitivity of this fair value to immediate adverse changes of 10% and 20% in those assumptions.
## Table 1 ##
In the table above: ‰ Amounts do not reflect the benefit of other financial instruments that are held to mitigate risks inherent in these retained interests.
‰ Changes in fair value based on an adverse variation in assumptions generally cannot be extrapolated because the relationship of the change in assumptions to the change in fair value is not usually linear.
‰ The impact of a change in a particular assumption is calculated independently of changes in any other assumption.
In practice, simultaneous changes in assumptions might magnify or counteract the sensitivities disclosed above.
‰ The constant prepayment rate is included only for positions for which it is a key assumption in the determination of fair value.
‰ The discount rate for retained interests that relate to U. S.  government agency-issued collateralized mortgage obligations does not include any credit loss.
‰ Expected credit loss assumptions are reflected in the discount rate for the remainder of retained interests.
The firm has other retained interests not reflected in the table above with a fair value of $44 million and a weighted average life of 3.5 years as of December 2015, and a fair value of $59 million and a weighted average life of 3.6 years as of December 2014.
Due to the nature and current fair value of certain of these retained interests, the weighted average assumptions for constant prepayment and discount rates and the related sensitivity to adverse changes are not meaningful as of December 2015 and December 2014.
The firm’s maximum exposure to adverse changes in the value of these interests is the carrying value of $44 million and $59 million as of December 2015 and December 2014, respectively.
Note 12.
Variable Interest Entities VIEs generally finance the purchase of assets by issuing debt and equity securities that are either collateralized by or indexed to the assets held by the VIE.
The debt and equity securities issued by a VIE may include tranches of varying levels of subordination.
The firm’s involvement with VIEs includes securitization of financial assets, as described in Note 11, and investments in and loans to other types of VIEs, as described below.
See Note 11 for additional information about securitization activities, including the definition of beneficial interests.
See Note 3 for the firm’s consolidation policies, including the definition of a VIE.
The firm is principally involved with VIEs through the following business activities: Mortgage-Backed VIEs and Corporate CDO and CLO VIEs.
The firm sells residential and commercial mortgage loans and securities to mortgage-backed VIEs and corporate bonds and loans to corporate CDO and CLO VIEs and may retain beneficial interests in the assets sold to these VIEs.
The firm purchases and sells beneficial interests issued by mortgage-backed and corporate CDO and CLO VIEs in connection with market-making activities.
In addition, the firm may enter into derivatives with certain of these VIEs, primarily interest rate swaps, which are typically not variable interests.
The firm generally enters into derivatives with other counterparties to mitigate its risk from derivatives with these VIEs.
Certain mortgage-backed and corporate CDO and CLO VIEs, usually referred to as synthetic CDOs or credit-linked note VIEs, synthetically create the exposure for the beneficial interests they issue by entering into credit derivatives, rather than purchasing the underlying assets.
These credit derivatives may reference a single asset, an index, or a portfolio/basket of assets or indices.
See Note 7 for further information about credit derivatives.
These VIEs use the funds from the sale of beneficial interests and the premiums received from credit derivative counterparties to purchase securities which serve to collateralize the beneficial interest holders and/or the credit derivative counterparty.
These VIEs may enter into other derivatives, primarily interest rate swaps, which are typically not variable interests.
The firm may be a counterparty to derivatives with these VIEs and generally enters into derivatives with other counterparties to mitigate its risk.
THE GOLDMAN SACHS GROUP, INC.  AND SUBSIDIARIES Notes to Consolidated Financial Statements Identifiable Intangible Assets.
The table below presents the gross carrying amount, accumulated amortization and net carrying amount of identifiable intangible assets.
## Table 2 ##
In the table above: · The net carrying amount of other intangibles primarily includes intangible assets related to acquired leases and commodities transportation rights.
· During 2016 and 2015, the firm acquired $89 million (primarily related to acquired leases) and $67 million (primarily related to customer lists), respectively, of intangible assets with a weighted average amortization period of three years.
Substantially all of the firm’s identifiable intangible assets are considered to have finite useful lives and are amortized over their estimated useful lives generally using the straightline method.
The tables below present details about amortization of identifiable intangible assets.
## Table 3 ##
## Table 4 ##
Impairments The firm tests property, leasehold improvements and equipment, identifiable intangible assets and other assets for impairment whenever events or changes in circumstances suggest that an asset’s or asset group’s carrying value may not be fully recoverable.
To the extent the carrying value of an asset exceeds the projected undiscounted cash flows expected to result from the use and eventual disposal of the asset or asset group, the firm determines the asset is impaired and records an impairment equal to the difference between the estimated fair value and the carrying value of the asset or asset group.
In addition, the firm will recognize an impairment prior to the sale of an asset if the carrying value of the asset exceeds its estimated fair value.
During both 2016 and 2015, impairments were not material to the firm’s results of operations or financial condition.
During 2014, primarily as a result of deterioration in market and operating conditions related to certain of the firm’s consolidated investments and the firm’s exchangetraded fund lead market maker (LMM) rights, the firm determined that certain assets were impaired and recorded impairments of $360 million, all of which were included in “Depreciation and amortization.
” These impairments consisted of $268 million related to property, leasehold improvements and equipment, substantially all of which was attributable to a consolidated investment in Latin America, $70 million related to identifiable intangible assets, primarily attributable to the firm’s LMM rights, and $22 million related to goodwill as a result of the sale of Metro International Trade Services (Metro).
The impairments related to property, leasehold improvements and equipment and goodwill were included within the firm’s Investing & Lending segment and the impairments related to identifiable intangible assets were principally included within the firm’s Institutional Client Services segment.
The impairments represented the excess of the carrying values of these assets over their estimated fair values, substantially all of which are calculated using level 3 measurements.
These fair values were calculated using a combination of discounted cash flow analyses and relative value analyses, including the estimated cash flows expected to result from the use and eventual disposition of these assets.
THE GOLDMAN SACHS GROUP, INC.  AND SUBSIDIARIES Management’s Discussion and Analysis ‰ Other Assets.
Other assets are generally less liquid, nonfinancial assets, including property, leasehold improvements and equipment, goodwill and identifiable intangible assets, income tax-related receivables, equitymethod investments, assets classified as held for sale and miscellaneous receivables.
The table below presents the reconciliation of this balance sheet allocation to our U. S.  GAAP balance sheet.
## Table 5 ##
In the table above: ‰ Total assets for Institutional Client Services and Investing & Lending represent inventory and related assets.
These amounts differ from total assets by business segment disclosed in Note 25 to the consolidated financial statements because total assets disclosed in Note 25 include allocations of our GCLA and cash, secured client financing and other assets.
‰ See “Balance Sheet Analysis and Metrics” for explanations on the changes in our balance sheet from December 2015 to December 2016.
Balance Sheet Analysis and Metrics As of December 2016, total assets in our consolidated statements of financial condition were $860.17 billion, essentially unchanged from December 2015, reflecting an increase in cash and cash equivalents of $28.27 billion, offset by a decrease in financial instruments owned, at fair value of $17.55 billion and a net decrease in collateralized agreements of $10.42 billion.
The increase in cash and cash equivalents was primarily due to an increase in deposits, reflecting the acquisition of GE Capital Bank’s online deposit platform.
The decrease in financial instruments owned, at fair value primarily reflected decreases in U. S.  government and federal agency obligations, equities and convertible debentures and money market instruments related to market-making activity, and the net decrease in collateralized agreements reflected the impact of firm and client activity.
As of December 2016, total liabilities in our consolidated statements of financial condition were $773.27 billion, essentially unchanged from December 2015, reflecting increases in deposits of $26.58 billion and unsecured longterm borrowings of $13.66 billion, offset by decreases in payables to customers and counterparties of $20.89 billion, securities sold under agreements to repurchase, at fair value of $14.25 billion, and other liabilities and accrued expenses of $4.53 billion.
The increase in deposits reflected the acquisition of GE Capital Bank’s online deposit platform, and the increase in unsecured long-term borrowings was due to net new issuances.
The decrease in payables to customers and counterparties reflected changes in client activity and the decrease in securities sold under agreements to repurchase, at fair value reflected the impact of firm and client activity.
The decrease in other liabilities and accrued expenses primarily reflected payments related to the settlement agreement with the RMBS Working Group.
As of December 2016, our total securities sold under agreements to repurchase, accounted for as collateralized financings, were $71.82 billion, which was 5% lower and 9% lower than the daily average amount of repurchase agreements during the quarter ended and year ended December 2016, respectively.
The decrease in our repurchase agreements relative to the daily average during 2016 resulted from the impact of firm and client activity at the end of the year.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>As of December</td></tr><tr><td><i>$ in millions</i></td><td>2013</td><td>2012</td></tr><tr><td>Total level 1 financial assets</td><td>$156,030</td><td>$ 190,737</td></tr><tr><td>Total level 2 financial assets</td><td>499,480</td><td>502,293</td></tr><tr><td>Total level 3 financial assets</td><td>40,013</td><td>47,095</td></tr><tr><td>Cash collateral and counterparty netting</td><td>-95,350</td><td>-101,612</td></tr><tr><td>Total financial assets at fair value</td><td>$600,173</td><td>$ 638,513</td></tr><tr><td>Total assets<sup>1</sup></td><td>$911,507</td><td>$ 938,555</td></tr><tr><td>Total level 3 financial assets as a percentage of Total assets</td><td>4.4%</td><td>5.0%</td></tr><tr><td>Total level 3 financial assets as a percentage of Total financial assets at fair value</td><td>6.7%</td><td>7.4%</td></tr><tr><td>Total level 1 financialliabilities</td><td>$ 68,412</td><td>$ 65,994</td></tr><tr><td>Total level 2 financial liabilities</td><td>300,583</td><td>318,764</td></tr><tr><td>Total level 3 financial liabilities</td><td>12,046</td><td>25,679</td></tr><tr><td>Cash collateral and counterparty netting</td><td>-25,868</td><td>-32,760</td></tr><tr><td>Total financial liabilities at fair value</td><td>$355,173</td><td>$ 377,677</td></tr><tr><td>Total level 3 financial liabilities as a percentage of Total financial liabilities at fairvalue</td><td>3.4%</td><td>6.8%</td></tr></table>
<table><tr><td></td><td colspan="3">As of December</td></tr><tr><td><i>$ in millions</i></td><td> </td><td>2015</td><td>2014</td></tr><tr><td>Fair value of retained interests</td><td> </td><td>$ 1,115</td><td>$ 2,370</td></tr><tr><td>Weighted average life (years)</td><td> </td><td>7.5</td><td>7.6</td></tr><tr><td>Constant prepayment rate</td><td> </td><td>10.4%</td><td>13.2%</td></tr><tr><td>Impact of 10% adverse change</td><td> <sup></sup><sup></sup></td><td>$ -22</td><td>$ -33</td></tr><tr><td>Impact of 20% adverse change</td><td> </td><td>-43</td><td>-66</td></tr><tr><td>Discount rate</td><td> </td><td>5.5%</td><td>4.1%</td></tr><tr><td>Impact of 10% adverse change</td><td> <sup></sup></td><td>$ -28</td><td>$ -50</td></tr><tr><td>Impact of 20% adverse change</td><td> </td><td>-55</td><td>-97</td></tr></table>
<table><tr><td></td><td colspan="2">As of December</td></tr><tr><td><i>$ in millions</i></td><td>2016</td><td>2015</td></tr><tr><td> Customer lists</td><td></td><td></td></tr><tr><td>Gross carrying amount</td><td>$ 1,065</td><td>$ 1,072</td></tr><tr><td>Accumulated amortization</td><td>-837</td><td>-777</td></tr><tr><td>Net carrying amount</td><td>228</td><td>295</td></tr><tr><td> Other</td><td></td><td></td></tr><tr><td>Gross carrying amount</td><td>543</td><td>449</td></tr><tr><td>Accumulated amortization</td><td>-342</td><td>-253</td></tr><tr><td>Net carrying amount</td><td>201</td><td>196</td></tr><tr><td> Total</td><td></td><td></td></tr><tr><td> Gross carrying amount</td><td>1,608</td><td>1,521</td></tr><tr><td> Accumulated amortization</td><td>-1,179</td><td>-1,030</td></tr><tr><td> Net carrying amount</td><td>$ 429</td><td>$ 491</td></tr></table>
<table><tr><td></td><td colspan="3">Year Ended December</td></tr><tr><td><i>$ in millions</i></td><td> 2016</td><td>2015</td><td>2014</td></tr><tr><td>Amortization</td><td> $162</td><td>$132</td><td>$217</td></tr></table>
<table><tr><td><i>$ in millions</i></td><td> As of  December 2016</td></tr><tr><td> Estimated future amortization</td><td></td></tr><tr><td>2017</td><td> $133</td></tr><tr><td>2018</td><td> 113</td></tr><tr><td>2019</td><td> 79</td></tr><tr><td>2020</td><td> 29</td></tr><tr><td>2021</td><td> 19</td></tr></table>
<table><tr><td><i>$ in millions</i></td><td>GCLA andCash</td><td>Secured Client Financing</td><td>Institutional Client Services</td><td>Investing & Lending</td><td>Total</td></tr><tr><td colspan="2"> As of December 2016</td><td></td><td></td><td></td><td></td></tr><tr><td>Cash and cash equivalents</td><td> $107,066</td><td> $ 14,645</td><td> $ —</td><td> $ —</td><td> $121,711</td></tr><tr><td>Securities purchased under agreements to resell and federal funds sold</td><td> 56,583</td><td> 40,436</td><td> 18,844</td><td> 1,062</td><td> 116,925</td></tr><tr><td>Securities borrowed</td><td> 41,652</td><td> 96,186</td><td> 46,762</td><td> —</td><td> 184,600</td></tr><tr><td>Receivables from brokers, dealers and clearing organizations</td><td> —</td><td> 6,540</td><td> 11,504</td><td> —</td><td> 18,044</td></tr><tr><td>Receivables from customers and counterparties</td><td> —</td><td> 26,286</td><td> 18,088</td><td> 3,406</td><td> 47,780</td></tr><tr><td>Loans receivable</td><td> —</td><td> —</td><td> —</td><td> 49,672</td><td> 49,672</td></tr><tr><td>Financial instruments owned, at fair value</td><td> 29,853</td><td> 15,294</td><td> 206,988</td><td> 43,817</td><td> 295,952</td></tr><tr><td>Subtotal</td><td> $235,154</td><td> $199,387</td><td> $302,186</td><td> $97,957</td><td> $834,684</td></tr><tr><td>Other assets</td><td></td><td></td><td></td><td></td><td> 25,481</td></tr><tr><td> Total assets</td><td></td><td></td><td></td><td></td><td> $860,165</td></tr><tr><td colspan="2">As ofDecember 2015</td><td></td><td></td><td></td><td></td></tr><tr><td>Cash and cash equivalents</td><td>$ 75,105</td><td>$ 18,334</td><td>$ —</td><td>$ —</td><td>$ 93,439</td></tr><tr><td>Securities purchased under agreements to resell and federal funds sold</td><td>60,092</td><td>56,189</td><td>16,368</td><td>1,659</td><td>134,308</td></tr><tr><td>Securities borrowed</td><td>33,260</td><td>97,251</td><td>47,127</td><td>—</td><td>177,638</td></tr><tr><td>Receivables from brokers, dealers and clearing organizations</td><td>—</td><td>5,912</td><td>19,541</td><td>—</td><td>25,453</td></tr><tr><td>Receivables from customers and counterparties</td><td>—</td><td>24,077</td><td>20,435</td><td>1,918</td><td>46,430</td></tr><tr><td>Loans receivable</td><td>—</td><td>—</td><td>—</td><td>45,407</td><td>45,407</td></tr><tr><td>Financial instruments owned, at fair value</td><td>39,843</td><td>19,562</td><td>208,836</td><td>45,261</td><td>313,502</td></tr><tr><td>Subtotal</td><td>$208,300</td><td>$221,325</td><td>$312,307</td><td>$94,245</td><td>$836,177</td></tr><tr><td>Other assets</td><td></td><td></td><td></td><td></td><td>25,218</td></tr><tr><td>Total assets</td><td></td><td></td><td></td><td></td><td>$861,395</td></tr></table>

Question: What's the average of Cash collateral and counterparty netting of As of December 2013, and Financial instruments owned, at fair value of Institutional Client Services ?
Answer: 151169
Reasoning program: add(95350.0,206988.0), divide(#0,const_2)