ADOBE SYSTEMS INCORPORATED NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 98 NOTE 8.
OTHER ASSETS Other assets as of November 27, 2009 and November 28, 2008 consisted of the following (in thousands):
## Table 0 ##
Acquired rights to use technology purchased during fiscal 2009 and fiscal 2008 was $6.0 million and $100.4 million, respectively.
Of the cost for fiscal 2008, an estimated $56.4 million was related to future licensing rights and has been capitalized and is being amortized on a straight-line basis over the estimated useful lives up to fifteen years.
Of the remaining costs for fiscal 2008, we estimated that $27.2 million was related to historical use of licensing rights which was expensed as cost of sales and the residual of $16.8 million for fiscal 2008 was expensed as general and administrative costs.
In connection with these licensing arrangements, we have the ability to acquire additional rights to use technology in the future.
See Note 17 for further information regarding our contractual commitments.
In general, acquired rights to use technology are amortized over their estimated useful lives of 3 to 15 years.
Included in investments are our indirect investments through our limited partnership interest in Adobe Ventures of approximately $37.1 million and $39.0 million as of November 27, 2009 and November 28, 2008, respectively, which is consolidated in accordance with the provisions for consolidating variable interest entities.
The partnership is controlled by Granite Ventures, an independent venture capital firm and sole general partner of Adobe Ventures.
We are the primary beneficiary of Adobe Ventures and bear virtually all of the risks and rewards related to our ownership.
Our investment in Adobe Ventures does not have a significant impact on our consolidated financial position, results of operations or cash flows.
Adobe Ventures carries its investments in equity securities at estimated fair value and investment gains and losses are included in our Consolidated Statements of Income.
Substantially all of the investments held by Adobe Ventures at November 27, 2009 and November 28, 2008 are not publicly traded and, therefore, there is no established market for these securities.
In order to determine the fair value of these investments, we use the most recent round of financing involving new non-strategic investors or estimates of current market value made by Granite Ventures.
It is our policy to evaluate the fair value of these investments held by Adobe Ventures, as well as our direct investments, on a regular basis.
This evaluation includes, but is not limited to, reviewing each company’s cash position, financing needs, earnings and revenue outlook, operational performance, management and ownership changes and competition.
In the case of privately-held companies, this evaluation is based on information that we request from these companies.
This information is not subject to the same disclosure regulations as U. S.  publicly traded companies and as such, the basis for these evaluations is subject to the timing and the accuracy of the data received from these companies.
See Note 4 for further information regarding Adobe Ventures.
Also included in investments are our direct investments in privately-held companies of approximately $26.4 million and $37.6 million as of November 27, 2009 and November 28, 2008, respectively, which are accounted for based on the cost method.
We assess these investments for impairment in value as circumstances dictate.
See Note 4 for further information regarding our cost method investments.
We entered into a Purchase and Sale Agreement, effective May 12, 2008, for the acquisition of real property located in Waltham, Massachusetts.
We purchased the property upon completion of construction of an office building shell and core, parking structure, and site improvements.
The purchase price for the property was $44.7 million and closed on June 16, 2009.
We made an initial deposit of $7.0 million which was included in security and other deposits as of November 28, 2008 and the remaining balance was paid at closing.
This deposit was held in escrow until closing and then applied to the purchase price.
Table 52 — Selected Quarterly Income Statement Data(1)
## Table 1 ##
N. R.  - Not relevant.
The denominator of the calculation is a positive value and the numerator is a negative value.
Continued
Cash flow hedges are also used to convert floating rate loans made to customers into fixed rate loans.
See Note 19 for more information.
STANDBY LETTERS-OF-CREDIT Standby letters-of-credit are conditional commitments issued to guarantee the performance of a customer to a third-party.
These guarantees are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing, and similar transactions.
Most of these arrangements mature within two years and are expected to expire without being drawn upon.
Standby letters-of-credit are included in the determination of the amount of risk-based capital that the parent company and the Bank are required to hold.
Through our credit process, we monitor the credit risks of outstanding standby letters-of-credit.
When it is probable that a standby letter-of-credit will be drawn and not repaid in full, a loss is recognized in the provision for credit losses.
See Note 21 for more information.
COMMITMENTS TO SELL LOANS Activity related to our mortgage origination activity supports the hedging of the mortgage pricing commitments to customers and the secondary sale to third parties.
In addition, we have commitments to sell residential real estate loans.
These contracts mature in less than one year.
See Note 21 for more information.
We believe that off-balance sheet arrangements are properly considered in our liquidity risk management process.
Table 23 - Contractual Obligations (1) (dollar amounts in millions)
## Table 2 ##
(1) Amounts do not include associated interest payments.65 Operational Risk Operational risk is the risk of loss due to human error; inadequate or failed internal systems and controls, including the use of financial or other quantitative methodologies that may not adequately predict future results; violations of, or noncompliance with, laws, rules, regulations, prescribed practices, or ethical standards; and external influences such as market conditions, fraudulent activities, disasters, and security risks.
We continuously strive to strengthen our system of internal controls to ensure compliance with laws, rules, and regulations, and to improve the oversight of our operational risk.
We actively and continuously monitor cyber-attacks such as attempts related to online deception and loss of sensitive customer data.
We evaluate internal systems, processes and controls to mitigate loss from cyber-attacks and, to date, have not experienced any material losses.
Our objective for managing cyber security risk is to avoid or minimize the impacts of external threat events or other efforts to penetrate our systems.
We work to achieve this objective by hardening networks and systems against attack, and by diligently managing visibility and monitoring controls within our data and communications environment to recognize events and respond before the attacker has the opportunity to plan and execute on its own goals.
To this end we employ a set of defense in-depth strategies, which include efforts to make us less attractive as a target and less vulnerable to threats, while investing in threat analytic capabilities for rapid detection and response.
Potential concerns related to cyber security may be escalated to our board-level Technology Committee, as appropriate.
As a complement to the overall cyber security risk management, we use a number of internal training methods, both formally through mandatory courses and informally through written communications and other updates.
Internal policies and procedures have been implemented to encourage the reporting of potential phishing attacks or other security risks.
We also use thirdparty services to test the effectiveness of our cyber security risk management framework, and any such third parties are required to comply with our policies regarding information security and confidentiality.
To mitigate operational risks, we have a senior management Operational Risk Committee a senior management Legal, Regulatory, and Compliance Committee and a senior level Third Party Risk Management Committee.
The responsibilities of these committees, among other duties, include establishing and maintaining management information systems to monitor material risks and to identify potential concerns, risks, or trends that may have a significant impact and ensuring that recommendations are developed to address the identified issues.
In addition, we have a senior management Model Risk Oversight Committee that is responsible for policies and procedures describing how model risk is evaluated and managed and the application of the governance process to implement these practices throughout the enterprise.
These committees report any significant findings and recommendations to the

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>2009</td><td>2008</td></tr><tr><td>Acquired rights to use technology</td><td>$84,313</td><td>$90,643</td></tr><tr><td>Investments</td><td>63,526</td><td>76,589</td></tr><tr><td>Security and other deposits</td><td>11,692</td><td>16,087</td></tr><tr><td>Prepaid royalties</td><td>12,059</td><td>9,026</td></tr><tr><td>Deferred compensation plan assets</td><td>9,045</td><td>7,560</td></tr><tr><td>Restricted cash</td><td>4,650</td><td>7,361</td></tr><tr><td>Prepaid land lease</td><td>3,209</td><td>3,185</td></tr><tr><td>Prepaid rent</td><td>1,377</td><td>2,658</td></tr><tr><td>Other</td><td>1,394</td><td>3,420</td></tr><tr><td>Other assets</td><td>$191,265</td><td>$216,529</td></tr></table>
<table><tr><td></td><td colspan="4">2010</td></tr><tr><td></td><td>Fourth</td><td>Third</td><td>Second</td><td>First</td></tr><tr><td> (dollar amounts in thousands, except per share amounts)</td><td></td><td></td><td></td><td></td></tr><tr><td>Interest income</td><td>$528,291</td><td>$534,669</td><td>$535,653</td><td>$546,779</td></tr><tr><td>Interest expense</td><td>112,997</td><td>124,707</td><td>135,997</td><td>152,886</td></tr><tr><td>Net interest income</td><td>415,294</td><td>409,962</td><td>399,656</td><td>393,893</td></tr><tr><td>Provision for credit losses</td><td>86,973</td><td>119,160</td><td>193,406</td><td>235,008</td></tr><tr><td>Net interest income after provision for credit losses</td><td>328,321</td><td>290,802</td><td>206,250</td><td>158,885</td></tr><tr><td>Total noninterest income</td><td>264,220</td><td>267,143</td><td>269,643</td><td>240,852</td></tr><tr><td>Total noninterest expense</td><td>434,593</td><td>427,309</td><td>413,810</td><td>398,093</td></tr><tr><td>Income before income taxes</td><td>157,948</td><td>130,636</td><td>62,083</td><td>1,644</td></tr><tr><td>Provision (benefit) for income taxes</td><td>35,048</td><td>29,690</td><td>13,319</td><td>-38,093</td></tr><tr><td>Net income</td><td>$122,900</td><td>$100,946</td><td>$48,764</td><td>$39,737</td></tr><tr><td>Dividends on preferred shares</td><td>83,754</td><td>29,495</td><td>29,426</td><td>29,357</td></tr><tr><td> Net income applicable to common shares</td><td>$39,146</td><td>$71,451</td><td>$19,338</td><td>$10,380</td></tr><tr><td> Common shares outstanding</td><td></td><td></td><td></td><td></td></tr><tr><td>Average — basic</td><td>757,924</td><td>716,911</td><td>716,580</td><td>716,320</td></tr><tr><td>Average — diluted-2</td><td>760,582</td><td>719,567</td><td>719,387</td><td>718,593</td></tr><tr><td>Ending</td><td>863,319</td><td>717,132</td><td>716,623</td><td>716,557</td></tr><tr><td>Book value per share</td><td>$5.35</td><td>$5.39</td><td>$5.22</td><td>$5.13</td></tr><tr><td>Tangible book value per share-3</td><td>4.66</td><td>4.55</td><td>4.37</td><td>4.26</td></tr><tr><td> Per common share</td><td></td><td></td><td></td><td></td></tr><tr><td>Net income — basic</td><td>$0.05</td><td>$0.10</td><td>$0.03</td><td>$0.01</td></tr><tr><td>Net income — diluted</td><td>0.05</td><td>0.10</td><td>0.03</td><td>0.01</td></tr><tr><td>Cash dividends declared</td><td>0.01</td><td>0.01</td><td>0.01</td><td>0.01</td></tr><tr><td> Common stock price, per share</td><td></td><td></td><td></td><td></td></tr><tr><td>High-4</td><td>$7.00</td><td>$6.45</td><td>$7.40</td><td>$5.81</td></tr><tr><td>Low-4</td><td>5.43</td><td>5.04</td><td>5.26</td><td>3.65</td></tr><tr><td>Close</td><td>6.87</td><td>5.69</td><td>5.54</td><td>5.39</td></tr><tr><td>Average closing price</td><td>6.05</td><td>5.79</td><td>6.13</td><td>4.84</td></tr><tr><td>Return on average total assets</td><td>0.90%</td><td>0.76%</td><td>0.38%</td><td>0.31%</td></tr><tr><td>Return on average common shareholders’ equity</td><td>3.8</td><td>7.4</td><td>2.1</td><td>1.1</td></tr><tr><td>Return on average tangible common shareholders’ equity-5</td><td>5.6</td><td>10.0</td><td>3.8</td><td>2.7</td></tr><tr><td>Efficiency ratio-6</td><td>61.4</td><td>60.6</td><td>59.4</td><td>60.1</td></tr><tr><td>Effective tax rate (benefit)</td><td>22.2</td><td>22.7</td><td>21.5</td><td>N.R.</td></tr><tr><td>Margin analysis-as a % of average earning assets-7</td><td></td><td></td><td></td><td></td></tr><tr><td>Interest income-7</td><td>4.29%</td><td>4.49%</td><td>4.63%</td><td>4.82%</td></tr><tr><td>Interest expense</td><td>0.92</td><td>1.04</td><td>1.17</td><td>1.35</td></tr><tr><td>Net interest margin-7</td><td>3.37%</td><td>3.45%</td><td>3.46%</td><td>3.47%</td></tr><tr><td> Revenue — FTE</td><td></td><td></td><td></td><td></td></tr><tr><td>Net interest income</td><td>$415,294</td><td>$409,962</td><td>$399,656</td><td>$393,893</td></tr><tr><td>FTE adjustment</td><td>3,708</td><td>2,631</td><td>2,490</td><td>2,248</td></tr><tr><td>Net interest income-7</td><td>419,002</td><td>412,593</td><td>402,146</td><td>396,141</td></tr><tr><td>Noninterest income</td><td>264,220</td><td>267,143</td><td>269,643</td><td>240,852</td></tr><tr><td> Total revenue-7</td><td>$683,222</td><td>$679,736</td><td>$671,789</td><td>$636,993</td></tr></table>
<table><tr><td>(dollar amounts in millions)</td><td colspan="5">At December 31, 2017</td></tr><tr><td></td><td>One Yearor Less</td><td>1 to 3Years</td><td>3 to 5Years</td><td>More than5 Years</td><td>Total</td></tr><tr><td>Deposits without a stated maturity</td><td>$70,554</td><td>$—</td><td>$—</td><td>$—</td><td>$70,554</td></tr><tr><td>Certificates of deposit and other time deposits</td><td>4,016</td><td>1,314</td><td>962</td><td>195</td><td>6,487</td></tr><tr><td>Short-term borrowings</td><td>5,056</td><td>—</td><td>—</td><td>—</td><td>5,056</td></tr><tr><td>Long-term debt</td><td>2,688</td><td>3,016</td><td>2,798</td><td>833</td><td>9,335</td></tr><tr><td>Operating lease obligations</td><td>59</td><td>108</td><td>72</td><td>135</td><td>374</td></tr><tr><td>Purchase commitments</td><td>90</td><td>92</td><td>25</td><td>19</td><td>226</td></tr></table>

Question: Which quarter is Provision for credit losses the largest in 2010?
Answer: 4