Risk Mitigation We purchase credit protection to cover the funded portion as well as the unfunded portion of certain credit exposures.
To lower the cost of obtaining our desired credit protection levels, credit exposure may be added within an industry, borrower or counterparty group by selling protection.
At December 31, 2011 and 2010, net notional credit default protection purchased in our credit derivatives portfolio to hedge our funded and unfunded exposures for which we elected the fair value option, as well as certain other credit exposures, was $19.4 billion and $20.1 billion.
The mark-to-market effects, including the cost of net credit default protection hedging our credit exposure, resulted in net gains of $121 million in 2011 compared to net losses of $546 million in 2010.
The average VaR for these credit derivative hedges was $60 million in 2011 compared to $53 million in 2010.
The average VaR for the related credit exposure was $74 million in 2011 compared to $65 million in 2010.
There is a diversification effect between the net credit default protection hedging our credit exposure and the related credit exposure such that the combined average VaR was $38 million in 2011 compared to $41 million in 2010.
See Trading Risk Management on page 107 for a description of our VaR calculation for the market-based trading portfolio.
Tables 48 and 49 present the maturity profiles and the credit exposure debt ratings of the net credit default protection portfolio at December 31, 2011 and 2010.
The distribution of debt ratings for net notional credit default protection purchased is shown as a negative amount.
Table 48 Net Credit Default Protection by Maturity Profile
## Table 0 ##
Table 49 Net Credit Default Protection by Credit Exposure Debt Rating
## Table 1 ##
(1) Ratings are refreshed on a quarterly basis.
(2) The Corporation considers ratings of BBB- or higher to meet the definition of investment grade.
(3) In addition to names which have not been rated, “NR” includes $(15) million and $(1.5) billion in net credit default swap index positions at December 31, 2011 and 2010.
While index positions are principally investment grade, credit default swap indices include names in and across each of the ratings categories.
In addition to our net notional credit default protection purchased to cover the funded and unfunded portion of certain credit exposures, credit derivatives are used for market-making activities for clients and establishing positions intended to profit from directional or relative value changes.
We execute the majority of our credit derivative trades in the OTC market with large, multinational financial institutions, including broker/dealers and, to a lesser degree, with a variety of other investors.
Because these transactions are executed in the OTC market, we are subject to settlement risk.
We are also subject to credit risk in the event that these counterparties fail to perform under the terms of these contracts.
In most cases, credit derivative transactions are executed on a daily margin basis.
Therefore, events such as a credit downgrade, depending on the ultimate rating level, or a breach of credit covenants would typically require an increase in the amount of collateral required of the counterparty, where applicable, and/or allow us to take additional protective measures such as early termination of all trades.
Table 50 presents the total contract/notional amount of credit derivatives outstanding and includes both purchased and written credit derivatives.
The credit risk amounts are measured as the net replacement cost in the event the counterparties with contracts in a gain position to us fail to perform under the terms of those contracts.
For information on our written credit derivatives, see Note 4 – Derivatives to the Consolidated Financial Statements.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) The deferred tax assets and liabilities recognized in the Company’s Consolidated Balance Sheets are as follows:
## Table 2 ##
* Current and non-current assets and liabilities have been netted within their respective taxing jurisdictions.
Deferred income taxes—current assets are primarily comprised of amounts from the U. S. , China, France, Italy, Japan, Mexico and South Korea.
Deferred income taxes—current liabilities are primarily comprised of amounts from the U. K.  Other non-current assets are primarily comprised of amounts from the U. S. , China and Japan.
Other non-current liabilities are primarily comprised of amounts from Germany, Sweden and the U. K.  At December 31, 2012, certain non-U.
S.  subsidiaries have net operating loss carryforwards totaling $42.4 million available to offset future taxable income.
Of the total $42.4 million, $35.4 million expire at various dates from 2013 through 2032 and the remaining $7.0 million have no expiration date.
The Company has a valuation allowance of $0.7 million recorded on $2.5 million of non-U.
S net operating loss carryforwards.
Certain U. S.  subsidiaries have state net operating loss carryforwards totaling $490.7 million which are completely offset by a valuation allowance due to risk of realization.
Certain non-U.
S.  subsidiaries located in China, Korea and Poland have tax exemptions or tax holidays, which reduced tax expense approximately $26.7 million and $21.8 million in 2012 and 2011, respectively.
Most existing tax holidays remain in effect during 2013.
The U. S.  has foreign tax credit carryforwards of $146.1 million, which expire at various dates from 2015 through 2020.
The Company is not required to provide U. S.  federal or state income taxes on cumulative undistributed earnings of foreign subsidiaries when such earnings are considered permanently reinvested.
At December 31, 2011, the Company considered most of its foreign unremitted earnings to be permanently reinvested.
The Company’s policy is to evaluate this assertion on a quarterly basis.
During the second quarter of 2012, the Company changed the assertion for some of its foreign subsidiaries to provide management additional financial flexibility.
At December 31, 2012, the Company’s deferred tax liability associated with unremitted foreign earnings was $13.4 million, which includes the $7.5 million of tax expense associated with the second quarter 2012 decision to change its cash repatriation assertion for some of its foreign subsidiaries and $5.9 million of tax expense associated with unremitted foreign earnings during the current year.
The Company has not recorded deferred income taxes on the difference between the book and tax basis of investments in foreign subsidiaries or foreign equity affiliates totaling approximately $2.1 billion in 2012, as these amounts are essentially permanent in nature.
The difference will become taxable upon repatriation of assets, sale or liquidation of the investment.
Due to fluctuation in tax laws around the world and fluctuations in foreign exchange rates, it is not practicable to determine the unrecognized deferred tax liability on this difference because the actual tax liability, if any, is dependent on circumstances existing when the repatriation occurs.
Our Wholesale Segment Our Wholesale segment sells our products to leading upscale and certain mid-tier department stores, specialty stores, and golf and pro shops, both domestically and internationally.
We have continued to focus on elevating our brand by improving instore product assortment and presentation, as well as full-price sell-throughs to consumers.
As of the end of Fiscal 2014, our Ralph Lauren-branded products were sold through over 11,000 doors worldwide and we invested $53 million of capital in related shopwithin-shops primarily in domestic and international department and specialty stores.
Our products are also sold through the ecommerce sites of certain of our wholesale customers.
The primary product offerings sold through our wholesale channels of distribution include menswear, womenswear, childrenswear, accessories, and home furnishings.
Our collection brands — Ralph Lauren Women's Collection and Black Label and Men's Purple Label and Black Label — are distributed worldwide through a limited number of premier fashion retailers.
Department stores are our major wholesale customers in North America.
In Latin America, our wholesale products are sold in department stores and specialty stores.
In Europe, our wholesale sales are a varying mix of sales to both department stores and specialty stores, depending on the country.
In Japan, our wholesale products are distributed primarily through shop-within-shops at premier and top-tier department stores, and the mix of business is weighted to Men's and Women's Blue Label.
In the Greater China and Southeast Asia region and Australia, our wholesale products are sold mainly at mid and top-tier department stores, and the mix of business is primarily weighted to Men's and Women's Blue Label.
We also distribute product to certain licensed stores operated by our partners in Latin America, Europe, and Asia.
In addition, our Club Monaco products are distributed through select department stores and specialty stores in Europe.
We sell the majority of our excess and out-of-season products through secondary distribution channels worldwide, including our retail factory stores.
Worldwide Distribution Channels The following table presents the number of doors by geographic location in which Ralph Lauren-branded products distributed by our Wholesale segment were sold to consumers in our primary channels of distribution as of March 29, 2014:

Tables referenced above, in order (Table 0 first):
<table><tr><td>Table 48</td><td colspan="2">Net Credit Default Protection by Maturity Profile December 31</td></tr><tr><td></td><td>2011</td><td>2010</td></tr><tr><td>Less than or equal to one year</td><td>16%</td><td>14%</td></tr><tr><td>Greater than one year and less than or equal to five years</td><td>77</td><td>80</td></tr><tr><td>Greater than five years</td><td>7</td><td>6</td></tr><tr><td>Total net credit default protection</td><td>100%</td><td>100%</td></tr></table>
<table><tr><td>Table 49</td><td colspan="4">Net Credit Default Protection by Credit Exposure Debt Rating December 31</td></tr><tr><td></td><td colspan="2">2011</td><td colspan="2">2010</td></tr><tr><td>(Dollars in millions)</td><td>NetNotional</td><td>Percent ofTotal</td><td>NetNotional</td><td>Percent ofTotal</td></tr><tr><td>Ratings<sup>-1, 2</sup></td><td></td><td></td><td></td><td></td></tr><tr><td>AAA</td><td>$-32</td><td>0.2%</td><td>$—</td><td>—%</td></tr><tr><td>AA</td><td>-779</td><td>4.0</td><td>-188</td><td>0.9</td></tr><tr><td>A</td><td>-7,184</td><td>37.1</td><td>-6,485</td><td>32.2</td></tr><tr><td>BBB</td><td>-7,436</td><td>38.4</td><td>-7,731</td><td>38.4</td></tr><tr><td>BB</td><td>-1,527</td><td>7.9</td><td>-2,106</td><td>10.5</td></tr><tr><td>B</td><td>-1,534</td><td>7.9</td><td>-1,260</td><td>6.3</td></tr><tr><td>CCC and below</td><td>-661</td><td>3.4</td><td>-762</td><td>3.8</td></tr><tr><td>NR<sup>-3</sup></td><td>-203</td><td>1.1</td><td>-1,586</td><td>7.9</td></tr><tr><td>Total net credit default protection</td><td>$-19,356</td><td>100.0%</td><td>$-20,118</td><td>100.0%</td></tr></table>
<table><tr><td></td><td colspan="2">December 31,</td></tr><tr><td>(millions of dollars)</td><td>2012</td><td>2011</td></tr><tr><td>Deferred income taxes — current assets*</td><td>$94.7</td><td>$58.5</td></tr><tr><td>Deferred income taxes — current liabilities*</td><td>-1.4</td><td>-6.5</td></tr><tr><td>Other non-current assets*</td><td>244.1</td><td>313.9</td></tr><tr><td>Other non-current liabilities*</td><td>-89.4</td><td>-120.2</td></tr><tr><td>Net deferred tax asset (current and non-current)</td><td>$248.0</td><td>$245.7</td></tr></table>

Question: What is the ratio of BB of NetNotional in Table 1 to the Other non-current liabilities* in Table 2 in 2011?
Answer: 12.7038
Reasoning program: divide(-1527,-120.2)