wrote-off debt issuance costs of $4 million, which resulted in an extraordinary loss for the early retirement of debt.
Net income Net income decreased $522 million to $273 million in 2001 from $795 million in 2000.
The overall decrease in net income is due to decreased net income from competitive supply and large utility businesses offset slightly by increases in the contract generation and growth distribution businesses.
The decreases are primarily due to lower market prices in the United Kingdom and the decline in the Brazilian Real during 2001 resulting in foreign currency transaction losses of approximately $210 million.
Additionally the Company recorded severance and transaction costs related to the IPALCO pooling-of-interest transaction and a loss from discontinued operations of $194 million.
Our 10 largest contributors to net income in 2001 were as follows: Lal Pir/Pak Gen, Shady Point and Thames from contract generation; Somerset from competitive supply; EDC, Eletropaulo, IPALCO, CILCORP and CEMIG from large utilities; and Sul from growth distribution.2000 COMPARED TO 1999 Revenues Revenues increased $3.4 billion, or 83%, to $7.5 billion in 2000 from $4.1 billion in 1999.
The increase in revenues is due primarily to the acquisition of new businesses.
Excluding businesses acquired or that commenced commercial operations during 2000 or 1999, revenues increased 6% to $3.6 billion.
## Table 0 ##
Contract generation revenues increased $400 million, or 31%, to $1.7 billion in 2000 from $1.3 billion in 1999.
Excluding businesses acquired or that commenced commercial operations in 2000 or 1999, contract generation revenues increased 4% to $1.3 billion in 2000.
The increase in contract generation segment revenues was due primarily to increases in South America, North America, Caribbean and Asia, offset by a slight decline in Europe/Africa.
In South America, contract generation segment revenue increased $245 million, and this is due mainly to the acquisition of Tiete.
In North America, contract generation segment revenues increased $76 million due primarily to the start of commercial operations at Warrior Run in January 2000.
In the Caribbean, contract generation segment revenues increased $92 million due primarily to the start of commercial operations at Merida III in June 2000 and increased revenues from Los Mina.
In Asia, contract generation segment revenue increased $41 million due primarily to increased operations at the Ecogen peaking plant and Lal Pir and Pak Gen in Pakistan.
In Europe/Africa, contract generation segment revenues remained fairly constant with decreases at Tisza II in Hungary being offset by the acquisition of a controlling interest at Kilroot.
Competitive supply revenues increased $1.5 billion, or 175%, to $2.4 billion in 2000 from $873 million in 1999.
Excluding businesses acquired or that commenced commercial operations in 2000 or 1999, competitive supply revenues increased 25% to $477 million in 2000.
The most significant increases occurred within North America and Europe/Africa.
Slight increases occurred in South America and the Caribbean.
Asia reported a slight decrease.
In North America, competitive supply segment revenues increased $610 million due primarily to the New York plants and New Energy
MetLife, Inc.  Notes to the Consolidated Financial Statements — (Continued) December 31, 2010 for CMBS and the remaining ABS (which may not correspond to rating agency designations).
All NAIC designation (e. g. , NAIC 1 — 6) amounts and percentages presented herein are based on the revised NAIC methodologies.
All rating agency designation (e. g. , Aaa/AAA) amounts and percentages presented herein are based on rating agency designations without adjustment for the revised NAIC methodologies described above.
Rating agency designations are based on availability of applicable ratings from rating agencies on the NAIC acceptable rating organization list, including Moody’s Investors Service (“Moody’s”), S&P and Fitch Ratings (“Fitch”).
The following table presents selected information about certain fixed maturity securities held by the Company at:
## Table 1 ##
Concentrations of Credit Risk (Fixed Maturity Securities) — Summary.
The following section contains a summary of the concentrations of credit risk related to fixed maturity securities holdings.
The Company was not exposed to any concentrations of credit risk of any single issuer greater than 10% of the Company’s equity, other than the government securities summarized in the table below.
The estimated fair value of the Company’s holdings in sovereign fixed maturity securities of Portugal, Ireland, Italy, Greece and Spain, commonly referred to as “Europe’s perimeter region,” was $1,562 million and $6 million prior to, and was $1,392 million and $6 million, after considering net purchased credit default swap protection at December 31, 2010 and 2009, respectively.
Collectively, the net exposure in these Europe perimeter region sovereign fixed maturity securities was 2.8% of the Company’s equity and 0.3% of total cash and invested assets at December 31, 2010.
## Table 2 ##
(1) Includes certain corporate fixed maturity securities guaranteed by the FDIC Program, as described above.
Concentrations of Credit Risk (Fixed Maturity Securities) — U. S.  and Foreign Corporate Securities.
The Company maintains a diversified portfolio of corporate fixed maturity securities across industries and issuers.
This portfolio does not have an exposure to any single issuer in excess of 1% of total investments.
The tables below present for all corporate fixed maturity securities holdings, corporate securities by sector, U. S.  corporate securities by major industry types, the largest exposure to a single issuer and the combined holdings in the ten issuers to which it had the largest exposure at:
## Table 3 ##
(1) Includes U. S.  dollar-denominated debt obligations of foreign obligors and other foreign fixed maturity securities.
MetLife, Inc.  Notes to the Consolidated Financial Statements — (Continued) Account balances of contracts with insurance guarantees are invested in separate account asset classes as follows:
## Table 4 ##
9.
Reinsurance The Company participates in reinsurance activities in order to limit losses, minimize exposure to significant risks and provide additional capacity for future growth.
For its individual life insurance products, the Company has historically reinsured the mortality risk primarily on an excess of retention basis or a quota share basis.
The Company currently reinsures 90% of the mortality risk in excess of $1 million for most products and reinsures up to 90% of the mortality risk for certain other products.
In addition to reinsuring mortality risk as described above, the Company reinsures other risks, as well as specific coverages.
Placement of reinsurance is done primarily on an automatic basis and also on a facultative basis for risks with specified characteristics.
On a case by case basis, the Company may retain up to $20 million per life and reinsure 100% of amounts in excess of the amount the Company retains.
The Company evaluates its reinsurance programs routinely and may increase or decrease its retention at any time.
For other policies within the Insurance Products segment, the Company generally retains most of the risk and only cedes particular risks on certain client arrangements.
The Company’s Retirement Products segment reinsures a portion of the living and death benefit guarantees issued in connection with its variable annuities.
Under these reinsurance agreements, the Company pays a reinsurance premium generally based on fees associated with the guarantees collected from policyholders, and receives reimbursement for benefits paid or accrued in excess of account values, subject to certain limitations.
The Company’s Corporate Benefit Funding segment periodically engages in reinsurance activities, as considered appropriate.
The impact of these activities on the financial results of this segment has not been significant.
The Company’s Auto & Home segment purchases reinsurance to manage its exposure to large losses (primarily catastrophe losses) and to protect statutory surplus.
The Company cedes to reinsurers a portion of losses and premiums based upon the exposure of the policies subject to reinsurance.
To manage exposure to large property and casualty losses, the Company utilizes property catastrophe, casualty and property per risk excess of loss agreements.
For its life insurance products within the International segment, the Company reinsures, depending on the product, risks above the corporate retention limit of up to $5 million to external reinsurers on a yearly renewable term basis.
The Company’s international businesses may also reinsure certain risks with external reinsurers depending upon the nature of the risk and local regulatory requirements.
The Company’s International segment reinsures, for selected large corporate customers, its group employee benefits or credit insurance business with various client-affiliated reinsurance companies, covering policies issued to the employees or customers of the clients.
Additionally, the Company cedes and assumes risk with other insurance companies when either company requires a business partner with the appropriate local licensing to issue certain types of policies in certain countries.
In these cases, the assuming company typically underwrites the risks, develops the products and assumes most or all of the risk.
The Company’s International segment also has reinsurance agreements in force that reinsure a portion of the living and death benefit guarantees issued in connection with its variable annuities.
Under these agreements, the Company pays reinsurance fees associated with the guarantees collected from policyholders, and receives reimbursement for benefits paid or accrued in excess of account values, subject to certain limitations.
The Company also reinsures, through 100% quota share reinsurance agreements, certain long-term care and workers’ compensation business written by MICC.
These are run-off businesses which have been included within Banking, Corporate & Other.
The Company has exposure to catastrophes, which could contribute to significant fluctuations in the Company’s results of operations.
The Company uses excess of retention and quota share reinsurance agreements to provide greater diversification of risk and minimize exposure to larger risks.
For its International segment, the Company currently purchases catastrophe coverage to insure risks within certain countries deemed by management to be exposed to the greatest catastrophic risks.
The Company reinsures its business through a diversified group of well-capitalized, highly rated reinsurers.
The Company analyzes recent trends in arbitration and litigation outcomes in disputes, if any, with its reinsurers.
The Company monitors ratings and evaluates the financial strength of its reinsurers by analyzing their financial statements.
In addition, the reinsurance recoverable balance due from each reinsurer is evaluated as part of the overall monitoring process.
Recoverability of reinsurance recoverable balances is evaluated based on these analyses.
The Company generally secures large reinsurance recoverable balances with various forms of collateral, including secured trusts, funds withheld accounts and irrevocable letters of credit.
These reinsurance recoverable balances are stated net of allowances for uncollectible reinsurance, which at December 31, 2010 and 2009, were immaterial.
The Company has secured certain reinsurance recoverable balances with various forms of collateral, including secured trusts, funds withheld accounts and irrevocable letters of credit.
The Company had $5.5 billion and $4.4 billion of unsecured unaffiliated reinsurance recoverable balances at December 31, 2010 and 2009, respectively.
MetLife, Inc.  Notes to the Consolidated Financial Statements — (Continued) series of Debt Securities and the postponement of settlement to a later date, the average market value used to calculate the settlement rate for a particular series will not be recalculated, although certain corporate events may require adjustments to the settlement rate.
After settlement of all the Purchase Contracts, MetLife, Inc.  will receive proceeds of $3,000 million and issue between 67.8 million and 84.7 million shares of its common stock, subject to certain adjustments.
The holder of an Equity Unit may, at its option, settle the related Purchase Contracts before the applicable settlement date.
However, upon early settlement, the holder will receive the Minimum Settlement Rate.
Distributions on the Purchase Contracts will be made quarterly at an average annual rate of 3.02%.
The value of the Purchase Contracts at issuance of $247 million was calculated as the present value of the future contract payments and was recorded in other liabilities with an offsetting decrease in additional paid-in capital.
The other liabilities balance will be reduced as contract payments are made.
For the year ended December 31, 2010, no contract payments were made.
Debt Securities The Debt Securities are senior, unsecured notes of MetLife, Inc.  which, in the aggregate, pay quarterly distributions at an initial average annual rate of 1.98% and are included in long-term debt (see Note 11 for further discussion of terms).
The Debt Securities will be initially pledged as collateral to secure the obligations of each Equity Unit holder under the related Purchase Contracts.
Each series of the Debt Securities will be subject to a remarketing and sold on behalf of participating holders to investors.
The proceeds of a remarketing, net of any related fees, will be applied on behalf of participating holders who so elect to settle any obligation of the holder to pay cash under the related Purchase Contract on the applicable settlement dates.
The initially-scheduled remarketing dates are October 10, 2012 for the Series C Debt Securities, September 11, 2013 for the Series D Debt Securities and October 8, 2014 for the Series E Debt Securities, subject to delay if there are one or more unsuccessful remarketings.
If the initial attempted remarketing of a series is unsuccessful, up to two additional remarketing attempts will occur.
At the remarketing date, the remarketing agent may reset the interest rate on the Debt Securities, subject to a reset cap for each of the first two attempted remarketings of each series.
If a remarketing is successful, the reset rate will apply to all outstanding Debt Securities of the applicable tranche of the remarketed series, whether or not the holder participated in the remarketing and will become effective on the settlement date of such remarketing.
If the first remarketing attempt with respect to a series is unsuccessful, the applicable Purchase Contract settlement date will be delayed for three calendar months, at which time a second remarketing attempt will occur in connection with settlement.
If the second remarketing attempt is unsuccessful, one additional delay may occur on the same basis.
If both additional remarketing attempts are unsuccessful, a “final failed remarketing” will have occurred, and the interest rate on such series of Debt Securities will not be reset and the holder may put such series of Debt Securities to MetLife, Inc.  at a price equal to its principal amount plus accrued and unpaid interest, if any, and apply the principal amount against the holder’s obligations under the related Purchase Contract.
Earnings Per Common Share The treasury stock method is used to determine the potential dilution of the Purchase Contracts on earnings per common share.
There was no dilution associated with the Purchase Contracts for the year ended December 31, 2010.
Acquisition of The Travelers Insurance Company In connection with financing the acquisition of The Travelers Insurance Company on July 1, 2005, the Holding Company distributed and sold 82.8 million 6.375% common equity units for $2,070 million in proceeds in a registered public offering on June 21, 2005.
The common equity units consisted of interests in trust preferred securities issued by MetLife Capital Trusts II and III, and stock purchase contracts issued by the Holding Company.
The only assets of MetLife Capital Trusts II and III were junior subordinated debt securities issued by the Holding Company.
The common equity units ceased to exist upon the closing of the remarketing of the underlying debt instruments and the settlement of the stock purchase contracts in August 2008 and February 2009.
See Notes 13 and 18.15.
Income Tax The provision for income tax from continuing operations was as follows:
## Table 5 ##
Retirement Products.
Policyholder account balances are held for fixed deferred annuities and the fixed account portion of variable annuities, for certain income annuities, and for certain portions of guaranteed benefits.
Policyholder account balances are credited interest at a rate set by the Company.
Credited rates for deferred annuities are influenced by current market rates, and most of these contracts have a minimum guaranteed rate between 1.0% and 4.0%.
See “— Variable Annuity Guarantees.
” Corporate Benefit Funding.
Policyholder account balances are comprised of funding agreements.
Interest crediting rates vary by type of contract, and can be fixed or variable.
Variable interest crediting rates are generally tied to an external index, most commonly 1-month or 3-month LIBOR.
MetLife is exposed to interest rate risks, and foreign exchange risk when guaranteeing payment of interest and return of principal at the contractual maturity date.
The Company may invest in floating rate assets, or enter into floating rate swaps, also tied to external indices, as well as caps to mitigate the impact of changes in market interest rates.
The Company also mitigates its risks by implementing an asset/liability matching policy and seeks to hedge all foreign currency risk through the use of foreign currency hedges, including cross currency swaps.
International.
Policyholder account balances are held largely for fixed income retirement and savings plans in Japan and Latin America and to a lesser degree, amounts for unit-linked-type funds in certain countries across all regions that do not meet the GAAP definition of separate accounts.
Also included are certain liabilities for retirement and savings products sold in certain countries in Japan and Asia Pacific that generally are sold with minimum credited rate guarantees.
Liabilities for guarantees on certain variable annuities in Japan and Asia Pacific are established in accordance with derivatives and hedging guidance and are also included within policyholder account balances.
These liabilities are generally impacted by sustained periods of low interest rates, where there are interest rate guarantees.
The Company mitigates its risks by implementing an asset/liability matching policy and by hedging its variable annuity guarantees.
Liabilities for unit-linked-type funds are impacted by changes in the fair value of the associated underlying investments, as the return on assets is generally passed directly to the policyholder.
See “— Variable Annuity Guarantees.
” Variable Annuity Guarantees The Company issues certain variable annuity products with guaranteed minimum benefits that provide the policyholder a minimum return based on their initial deposit (i. e. , the benefit base) less withdrawals.
In some cases the benefit base may be increased by additional deposits, bonus amounts, accruals or market value resets.
These guarantees are accounted for as insurance liabilities or as embedded derivatives depending on how and when the benefit is paid.
Specifically, a guarantee is accounted for as an embedded derivative if a guarantee is paid without requiring (i) the occurrence of specific insurable event, or (ii) the policyholder to annuitize.
Alternatively, a guarantee is accounted for as an insurance liability if the guarantee is paid only upon either (i) the occurrence of a specific insurable event, or (ii) upon annuitization.
In certain cases, a guarantee may have elements of both an insurance liability and an embedded derivative and in such cases the guarantee is accounted for under a split of the two models.
The net amount at risk (“NAR”) for guarantees can change significantly during periods of sizable and sustained shifts in equity market performance, increased equity volatility, or changes in interest rates.
The NAR disclosed in Note 8 of the Notes to the Consolidated Financial Statements represents management’s estimate of the current value of the benefits under these guarantees if they were all exercised simultaneously at December 31, 2010 and 2009, respectively.
However, there are features, such as deferral periods and benefits requiring annuitization or death, that limit the amount of benefits that will be payable in the near future.
Guarantees, including portions thereof, accounted for as embedded derivatives, are recorded at estimated fair value and included in policyholder account balances.
Guarantees accounted for as embedded derivatives include GMAB, the non life-contingent portion of GMWB and the portion of certain GMIB that do not require annuitization.
For more detail on the determination of estimated fair value, see Note 5 of the Notes to the Consolidated Financial Statements.
The table below contains the carrying value for guarantees included in policyholder account balances at

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>2000</td><td>1999</td><td>% Change</td></tr><tr><td>Contract generation</td><td>$1.7 billion</td><td>$ 1.3 billion</td><td>31%</td></tr><tr><td>Competitive supply</td><td>$2.4 billion</td><td>$873 million</td><td>175%</td></tr><tr><td>Large utilities</td><td>$2.1 billion</td><td>$992 million</td><td>112%</td></tr><tr><td>Growth distribution</td><td>$1.3 billion</td><td>$948 million</td><td>37%</td></tr></table>
<table><tr><td></td><td colspan="2">December 31,</td></tr><tr><td></td><td>2010</td><td>2009</td></tr><tr><td></td><td colspan="2">(In millions)</td></tr><tr><td>Below investment grade or non-rated fixed maturity securities:</td><td></td><td></td></tr><tr><td>Estimated fair value</td><td>$24,886</td><td>$20,201</td></tr><tr><td>Net unrealized gain (loss)</td><td>$-696</td><td>$-2,609</td></tr><tr><td>Non-income producing fixed maturity securities:</td><td></td><td></td></tr><tr><td>Estimated fair value</td><td>$130</td><td>$312</td></tr><tr><td>Net unrealized gain (loss)</td><td>$-23</td><td>$-31</td></tr></table>
<table><tr><td></td><td colspan="2"> December 31,</td></tr><tr><td></td><td> 2010</td><td> 2009</td></tr><tr><td></td><td colspan="2"> Estimated Fair Value</td></tr><tr><td></td><td colspan="2"> (In millions)</td></tr><tr><td>Government and agency fixed maturity securities:</td><td></td><td></td></tr><tr><td>United States -1</td><td>$33,304</td><td>$25,447</td></tr><tr><td>Japan</td><td>$15,591</td><td>$—</td></tr><tr><td>Mexico</td><td>$5,050</td><td>$4,813</td></tr></table>
<table><tr><td></td><td colspan="4"> December 31,</td></tr><tr><td></td><td colspan="2">2010</td><td colspan="2"> 2009</td></tr><tr><td></td><td> Estimated </td><td></td><td> Estimated </td><td></td></tr><tr><td></td><td> Fair </td><td>% of</td><td> Fair </td><td> % of </td></tr><tr><td></td><td> Value</td><td>Total</td><td> Value</td><td> Total</td></tr><tr><td></td><td colspan="4"> (In millions)</td></tr><tr><td>Corporate fixed maturity securities — by sector:</td><td></td><td></td><td></td><td></td></tr><tr><td>Foreign corporate fixed maturity securities -1</td><td>$68,178</td><td>42.4%</td><td>$38,030</td><td>34.5%</td></tr><tr><td>U.S. corporate fixed maturity securities — by industry:</td><td></td><td></td><td></td><td></td></tr><tr><td>Industrial</td><td>22,314</td><td>13.9</td><td>17,246</td><td>15.6</td></tr><tr><td>Consumer</td><td>21,737</td><td>13.5</td><td>16,924</td><td>15.4</td></tr><tr><td>Finance</td><td>20,917</td><td>13.0</td><td>13,756</td><td>12.5</td></tr><tr><td>Utility</td><td>17,027</td><td>10.6</td><td>14,785</td><td>13.4</td></tr><tr><td>Communications</td><td>7,375</td><td>4.6</td><td>6,580</td><td>6.0</td></tr><tr><td>Other</td><td>3,198</td><td>2.0</td><td>2,896</td><td>2.6</td></tr><tr><td>Total</td><td>$160,746</td><td>100.0%</td><td>$110,217</td><td>100.0%</td></tr></table>
<table><tr><td></td><td colspan="2"> December 31,</td></tr><tr><td></td><td> 2010</td><td> 2009</td></tr><tr><td></td><td colspan="2"> (In millions)</td></tr><tr><td>Fund Groupings:</td><td></td><td></td></tr><tr><td>Equity</td><td>$59,546</td><td>$48,852</td></tr><tr><td>Balanced</td><td>40,199</td><td>31,011</td></tr><tr><td>Bond</td><td>9,539</td><td>7,166</td></tr><tr><td>Money Market</td><td>1,584</td><td>2,104</td></tr><tr><td>Specialty</td><td>2,192</td><td>1,865</td></tr><tr><td>Total</td><td>$113,060</td><td>$90,998</td></tr></table>
<table><tr><td></td><td colspan="3">Years Ended December 31,</td></tr><tr><td></td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td></td><td colspan="3">(In millions)</td></tr><tr><td>Current:</td><td></td><td></td><td></td></tr><tr><td>Federal</td><td>$141</td><td>$-231</td><td>$-35</td></tr><tr><td>State and local</td><td>21</td><td>12</td><td>10</td></tr><tr><td>Foreign</td><td>203</td><td>236</td><td>623</td></tr><tr><td>Subtotal</td><td>365</td><td>17</td><td>598</td></tr><tr><td>Deferred:</td><td></td><td></td><td></td></tr><tr><td>Federal</td><td>670</td><td>-2,135</td><td>1,056</td></tr><tr><td>State and local</td><td>-7</td><td>26</td><td>-6</td></tr><tr><td>Foreign</td><td>153</td><td>77</td><td>-68</td></tr><tr><td>Subtotal</td><td>816</td><td>-2,032</td><td>982</td></tr><tr><td>Provision for income tax expense (benefit)</td><td>$1,181</td><td>$-2,015</td><td>$1,580</td></tr></table>

Question: What is the sum of Below investment grade or non-rated fixed maturity securities in 2010? (in million)
Answer: 24190
Reasoning program: subtract(24886,696)