Impairment write-downs in 2009 were primarily the result of recovery assessments related to investments with commercial real estate exposure, including limited partnership interests, equity securities, mortgage loans and CMBS; RMBS which experienced deterioration in expected cash flows; ABS, including CDO squared, cash flow CDO and synthetic CDO, and hybrid corporate fixed income securities.
Change in intent write-downs for the years ended December 31 are presented in the following table.
## Table 0 ##
The change in intent write-downs in 2010 and 2009 were primarily a result of ongoing comprehensive reviews of our portfolios resulting in write-downs of individually identified investments, primarily municipal bonds and RMBS.
Sales generated $686 million of net realized gains in 2010 primarily due to $595 million of net gains on sales of corporate, U. S.  government, foreign government and municipal fixed income securities and $210 million of net gains on sales of equity securities, partially offset by $139 million of net losses on sales of CMBS and ABS.
Net realized gains from sales of $1.27 billion in 2009 were primarily due to $445 million and $636 million of gains on sales of equity and U. S.  and foreign government fixed income securities, respectively.
Sales of equity securities in 2009 were primarily in connection with a change in strategy that uses a more passive portfolio management approach with a greater emphasis on asset allocation decisions.
Valuation and settlement of derivative instruments recorded as net realized capital losses totaling $601 million in 2010 included $427 million of losses on the valuation of derivative instruments and $174 million of losses on the settlement of derivative instruments.
In 2009, net realized capital gains on the valuation and settlement of derivative instruments totaled $205 million.
Net realized capital gains and losses from our risk management derivative programs are primarily driven by changes in risk-free interest rates, equity market valuations, volatility and credit spreads during a given period.
Net realized capital gains and losses from our income generation derivative programs are primarily driven by changes in the fair value of the reference entities or indices underlying the derivative instruments.
A changing interest rate environment will drive changes in our portfolio duration targets.
A duration target and range is established with an economic view of liabilities relative to a long-term investment portfolio view.
Tactical duration management is accomplished through both cash market transactions, sales and new purchases, and derivative activities that generate realized gains and losses.
As a component of our approach to managing portfolio duration, realized gains and losses on certain derivative instruments are most appropriately considered in conjunction with the unrealized gains and losses on the fixed income portfolio.
This approach mitigates the impacts of general interest rate changes to our overall financial condition.
As of December 31, 2010, our securities with embedded derivatives totaled $1.26 billion, a decrease in fair value of $152 million from December 31, 2009, comprising realized capital losses on valuation of $3 million, net sales activity of $320 million, unrealized net capital gains reported in OCI of $123 million for the host securities and an increase of $48 million due to the adoption of new accounting guidance.
Unrealized net capital gains were further decreased by $30 million due to amortization of the host securities.
The change in fair value of embedded derivatives is bifurcated from the host securities, separately valued and reported in realized capital gains and losses, while the change in the difference between the fair value and the amortized cost of the host securities is reported in OCI.
Total fair value exceeded total amortized cost by $41 million as of December 31, 2010.
Valuation gains and losses for securities with embedded derivatives are converted into cash upon our election to sell these securities.
In the event the economic value of the embedded options is not realized, we will recover the par value if held to maturity unless the issuer of the security defaults.
In the event there are defaults by the referenced credit entities of the embedded credit default swap, our loss is limited to the par value of the combined fixed income security, net of applicable recoveries.
Total par value exceeded fair value by $45 million as of December 31, 2010.
The following table presents the results of operations of our Advice & Wealth Management segment on an operating basis:
## Table 1 ##
Our Advice & Wealth Management segment pretax operating earnings, which exclude net realized gains or losses, increased $155 million, or 35%, to $598 million for the year ended December 31, 2013 compared to $443 million for the prior year primarily due to strong growth in wrap account assets, increased client activity and continued expense management, partially offset by the impact of low interest rates and lower earnings due to the transition of banking operations in the fourth quarter of 2012.
The negative impact of lower spreads on cash sweep accounts and certificates was approximately $57 million compared to the prior year.
Pretax operating earnings for the year ended December 31, 2012 included $49 million of earnings from former banking operations.
Pretax operating margin was 13.9% for the year ended December 31, 2013 compared to 11.4% for the prior year.
Net Revenues Net revenues exclude net realized gains or losses.
Net revenues increased $422 million, or 11%, to $4.3 billion for the year ended December 31, 2013 compared to $3.9 billion for the prior year reflecting retail client net inflows, market appreciation and increased client activity, partially offset by lower net revenues due to the transition of banking operations in the fourth quarter of 2012 and the negative impact of low interest rates.
Net revenues for the year ended December 31, 2012 included $111 million from former banking operations.
Advice & Wealth Management delivered strong growth in assets and revenues through the combination of improved advisor productivity and experienced advisor recruiting.
Operating net revenue per branded advisor was $440,000 for the year ended December 31, 2013, up 11% from the prior year driven by the combination of asset growth and strong client activity.
Management and financial advice fees increased $302 million, or 17%, to $2.0 billion for the year ended December 31, 2013 compared to $1.7 billion for the prior year driven by growth in wrap account assets.
Average wrap account assets increased $23.8 billion, or 21%, to $138.8 billion at December 31, 2013 compared to the prior year due to net inflows and market appreciation.
See our discussion of the changes in wrap account assets above.
Distribution fees increased $216 million, or 11%, to $2.1 billion for the year ended December 31, 2013 compared to $1.9 billion for the prior year primarily due to higher client assets and increased client activity.
Net investment income, which excludes net realized gains or losses, decreased $106 million, or 45%, to $127 million for the year ended December 31, 2013 compared to $233 million for the prior year due to $103 million of lower net investment income due to the transition of banking operations in the fourth quarter of 2012, as well as a lower asset earnings rate on invested assets, partially offset by higher average certificate investment balances.
Expenses Total expenses increased $267 million, or 8%, to $3.7 billion for the year ended December 31, 2013 compared to $3.4 billion for the prior year due to a $320 million increase in distribution expenses driven by higher compensation due to strong growth in client assets, partially offset by a $53 million decrease in general and administrative expense due to $62 million of lower expenses from the transition of banking operations in the fourth quarter of 2012 and $34 million of lower expenses associated with the completion of the brokerage platform conversion, partially offset by higher performance-driven compensation accruals.
Notes to Consolidated Financial Statements Business Combination between RFMD and TriQuint Effective January 1, 2015, pursuant to the Merger Agreement, RFMD and TriQuint completed a strategic combination of their respective businesses through the “merger of equals” Business Combination.
Based on an evaluation of the provisions of FASB ASC Topic 805, “Business Combinations,” RFMD was determined to be the acquirer for accounting purposes.
The allocation to goodwill of $2,036.7 million represented the excess of the purchase price over the fair value of assets acquired and liabilities assumed, which amount was allocated to the Company’s MP and IDP operating segments.
The Business Combination resulted in an increase in intangible assets of $2,394.0 million.
The more significant intangible assets acquired were developed technology of $610.0 million and customer relationships of $1,220.0 million (which are both being amortized over periods between 4 and 6 years) and IPRD of $470.0 million, of which $460.0 million has been completed as of March 30, 2019 and transferred to finite-lived intangible assets (which are being amortized over periods between 4 and 6 years).
During fiscal years 2018 and 2017, the Company incurred integration costs (presented in the Consolidated Statements of Operations as “Other operating expense”) of approximately $6.2 million and $16.9 million, respectively, associated with the Business Combination.
See Note 11 for restructuring costs resulting from the Business Combination.7.
GOODWILL AND INTANGIBLE ASSETS The Company’s goodwill balance was $2,173.9 million (net of accumulated impairment losses and write-offs of $621.6 million) as of March 30, 2019 and March 31, 2018.
Goodwill is allocated to the reporting units that are expected to benefit from the synergies of the business combinations generating the underlying goodwill.
As of March 30, 2019 and March 31, 2018, the Company’s goodwill balance was allocated between its MP ($1,751.5 million) and IDP ($422.4 million) reporting units.
The following summarizes information regarding the gross carrying amounts and accumulated amortization of intangible assets (in thousands):
## Table 2 ##
Total intangible assets amortization expense was $454.5 million, $539.8 million and $494.8 million in fiscal years 2019, 2018 and 2017, respectively.
The following table provides the Company’s estimated amortization expense for intangible assets based on current amortization periods for the periods indicated (in thousands):
## Table 3 ##
8.
DEBT Debt as of March 30, 2019 and March 31, 2018 is as follows (in thousands):
## Table 4 ##
Organizational Structure A key enabler of the Republic Way operating model is our organizational structure that fosters a high performance culture by maintaining 360-degree accountability and full profit and loss responsibility with local management, supported by a functional structure to provide subject matter expertise.
This structure allows us to take advantage of our scale by coordinating functionally across all of our markets, while empowering local management to respond to unique market dynamics.
Our senior management evaluates, oversees and manages the financial performance of our operations through two field groups, referred to as Group 1 and Group 2.
Group 1 primarily consists of geographic areas located in the western United States, and Group 2 primarily consists of geographic areas located in the southeastern and mid-western United States, and the eastern seaboard of the United States.
Each field group is organized into several areas and each area contains multiple business units or operating locations.
Each of our field groups and all of our areas provide collection, transfer, recycling and landfill services.
See Note 14, Segment Reporting, to our consolidated financial statements in Item 8 of this Form 10-K for further discussion of our operating segments.
Through this operating model, we have rolled out several productivity and cost control initiatives designed to deliver the best service possible to our customers in an efficient and environmentally sound way.
Fleet Automation Approximately 75% of our residential routes have been converted to automated single-driver trucks.
By converting our residential routes to automated service, we reduce labor costs, improve driver productivity, decrease emissions and create a safer work environment for our employees.
Additionally, communities using automated vehicles have higher participation rates in recycling programs, thereby complementing our initiative to expand our recycling capabilities.
Fleet Conversion to Compressed Natural Gas (CNG) Approximately 20% of our fleet operates on natural gas.
We expect to continue our gradual fleet conversion to CNG as part of our ordinary annual fleet replacement process.
We believe a gradual fleet conversion is the most prudent approach to realizing the full value of our previous fleet investments.
Approximately 13% of our replacement vehicle purchases during 2018 were CNG vehicles.
We believe using CNG vehicles provides us a competitive advantage in communities with strict clean emission initiatives that focus on protecting the environment.
Although upfront capital costs are higher, using CNG reduces our overall fleet operating costs through lower fuel expenses.
As of December 31, 2018, we operated 37 CNG fueling stations.
Standardized Maintenance Based on an industry trade publication, we operate the seventh largest vocational fleet in the United States.
As of December 31, 2018, our average fleet age in years, by line of business, was as follows:
## Table 5 ##
OneFleet, our standardized vehicle maintenance program, enables us to use best practices for fleet management, truck care and maintenance.
Through standardization of core functions, we believe we can minimize variability

Tables referenced above, in order (Table 0 first):
<table><tr><td> ($ in millions) </td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Fixed income securities</td><td>$-198</td><td>$-318</td><td>$-1,555</td></tr><tr><td>Equity securities</td><td>—</td><td>-27</td><td>-120</td></tr><tr><td>Mortgage loans</td><td>-6</td><td>-6</td><td>-74</td></tr><tr><td>Other investments</td><td>—</td><td>-6</td><td>-3</td></tr><tr><td>Change in intent write-downs</td><td>$-204</td><td>$-357</td><td>$-1,752</td></tr></table>
<table><tr><td></td><td colspan="2">Years Ended December 31,</td><td></td><td></td></tr><tr><td></td><td>2013</td><td>2012</td><td colspan="2">Change</td></tr><tr><td></td><td colspan="3">(in millions)</td><td></td></tr><tr><td>Revenues</td><td colspan="3"></td><td></td></tr><tr><td>Management and financial advice fees</td><td>$2,039</td><td>$1,737</td><td>$302</td><td>17%</td></tr><tr><td>Distribution fees</td><td>2,095</td><td>1,879</td><td>216</td><td>11</td></tr><tr><td>Net investment income</td><td>127</td><td>233</td><td>-106</td><td>-45</td></tr><tr><td>Other revenues</td><td>65</td><td>64</td><td>1</td><td>2</td></tr><tr><td>Total revenues</td><td>4,326</td><td>3,913</td><td>413</td><td>11</td></tr><tr><td>Banking and deposit interest expense</td><td>31</td><td>40</td><td>-9</td><td>-23</td></tr><tr><td>Total net revenues</td><td>4,295</td><td>3,873</td><td>422</td><td>11</td></tr><tr><td>Expenses</td><td></td><td></td><td></td><td></td></tr><tr><td>Distribution expenses</td><td>2,644</td><td>2,324</td><td>320</td><td>14</td></tr><tr><td>General and administrative expense</td><td>1,053</td><td>1,106</td><td>-53</td><td>-5</td></tr><tr><td>Total expenses</td><td>3,697</td><td>3,430</td><td>267</td><td>8</td></tr><tr><td>Operating earnings</td><td>$598</td><td>$443</td><td>$155</td><td>35%</td></tr></table>
<table><tr><td></td><td colspan="2">March 30, 2019</td><td colspan="2">March 31, 2018</td></tr><tr><td></td><td>GrossCarryingAmount</td><td>AccumulatedAmortization</td><td>GrossCarryingAmount</td><td>AccumulatedAmortization</td></tr><tr><td>Intangible Assets:</td><td></td><td></td><td></td><td></td></tr><tr><td>Developed technology</td><td>$1,246,335</td><td>$960,793</td><td>$1,246,335</td><td>$733,081</td></tr><tr><td>Customer relationships</td><td>1,272,725</td><td>1,161,735</td><td>1,272,725</td><td>936,175</td></tr><tr><td>Trade names<sup></sup></td><td>29,391</td><td>29,391</td><td>29,391</td><td>29,377</td></tr><tr><td>Technology licenses</td><td>14,704</td><td>13,026</td><td>12,379</td><td>11,904</td></tr><tr><td>Non-compete agreement</td><td>1,026</td><td>1,026</td><td>1,026</td><td>983</td></tr><tr><td>IPRD</td><td>10,000</td><td>N/A</td><td>10,000</td><td>N/A</td></tr><tr><td>Total</td><td>$2,574,181</td><td>$2,165,971</td><td>$2,571,856</td><td>$1,711,520</td></tr></table>
<table><tr><td>Fiscal Year</td><td>EstimatedAmortizationExpense</td></tr><tr><td>2020</td><td>$208,000</td></tr><tr><td>2021</td><td>156,000</td></tr><tr><td>2022</td><td>28,000</td></tr><tr><td>2023</td><td>12,000</td></tr><tr><td>2024</td><td>3,000</td></tr></table>
<table><tr><td></td><td>March 30, 2019</td><td>March 31, 2018</td></tr><tr><td>6.75% Senior Notes due 2023</td><td>$—</td><td>$444,464</td></tr><tr><td>7.00% Senior Notes due 2025</td><td>23,404</td><td>548,500</td></tr><tr><td>5.50% Senior Notes due 2026</td><td>900,000</td><td>—</td></tr><tr><td>Less unamortized issuance costs</td><td>-4,134</td><td>-9,674</td></tr><tr><td>Total long-term debt</td><td>$919,270</td><td>$983,290</td></tr></table>
<table><tr><td></td><td>Approximate Number of Vehicles</td><td>Approximate Average Age</td></tr><tr><td>Residential</td><td>7,000</td><td>7.5</td></tr><tr><td>Small-container</td><td>4,700</td><td>7.0</td></tr><tr><td>Large-container</td><td>4,300</td><td>8.8</td></tr><tr><td>Total</td><td>16,000</td><td>7.7</td></tr></table>

Question: What will Management and financial advice fees be like in 2014 if it continues to grow at the same rate as it did in 2013? (in dollars in millions)
Answer: 2385.63
Reasoning program: divide(17,const_100), add(1,#0), multiply(2039,#1)