NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued) 103 Note 8—Shareholders’ Equity (Continued) The following table summarizes activity in other comprehensive income related to derivatives, net of taxes, held by the Company (in millions):
## Table 0 ##
The tax effect related to the changes in fair value of derivatives was $(8) million, $(3) million, and $10 million for 2006, 2005, and 2004, respectively.
The tax effect related to derivative gains/losses reclassified from other comprehensive income to net income was $8 million, $(2) million, and $(13) million for 2006, 2005, and 2004, respectively.
Employee Benefit Plans 2003 Employee Stock Plan The 2003 Employee Stock Plan (the “2003 Plan”) is a shareholder approved plan that provides for broad- based grants to employees, including executive officers.
Based on the terms of individual option grants, options granted under the 2003 Plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of 4 years, based on continued employment, with either annual or quarterly vesting.
The 2003 Plan permits the granting of incentive stock options, nonstatutory stock options, restricted stock units, stock appreciation rights, and stock purchase rights.1997 Employee Stock Option Plan In August 1997, the Company’s Board of Directors approved the 1997 Employee Stock Option Plan (the “1997 Plan”), a non-shareholder approved plan for grants of stock options to employees who are not officers of the Company.
Based on the terms of individual option grants, options granted under the 1997 Plan generally expire 7 to 10 years after the grant date and generally become exercisable over a period of 4 years, based on continued employment, with either annual or quarterly vesting.
In October 2003, the Company terminated the 1997 Employee Stock Option Plan and cancelled all remaining unissued shares totaling 28,590,702.
No new options can be granted from the 1997 Plan.
Employee Stock Option Exchange Program On March 20, 2003, the Company announced a voluntary employee stock option exchange program (the “Exchange Program”) whereby eligible employees, other than executive officers and members of the Board of Directors, had an opportunity to exchange outstanding options with exercise prices at or above $12.50 per share for a predetermined smaller number of new stock options issued with exercise prices equal to the fair market value of one share of the Company’s common stock on the day the new awards were issued, which was to be at least six months plus one day after the exchange options were cancelled.
On April 17, 2003, in accordance with the Exchange Program, the Company cancelled options to purchase 33,138,386 shares of its common stock.
On October 22, 2003, new stock options totaling 13,394,736 shares were issued to employees at an exercise price of $11.38 per share, which is equivalent to the closing price of the Company’s stock on that date.
No financial or accounting impact to the Company’s financial position, results of operations or cash flows was associated with this transaction.
In addition, Huntington has an unfunded defined benefit post-retirement plan that provides certain healthcare and life insurance benefits to retired employees who have attained the age of 55 and have at least 10 years of vesting service under this plan.
For any employee retiring on or after January 1, 1993, post-retirement healthcare benefits are based upon the employee’s number of months of service and are limited to the actual cost of coverage.
Life insurance benefits are a percentage of the employee’s base salary at the time of retirement, with a maximum of $50,000 of coverage.
The employer paid portion of the post-retirement health and life insurance plan was eliminated for employees retiring on and after March 1, 2010.
Eligible employees retiring on and after March 1, 2010, who elect retiree medical coverage, will pay the full cost of this coverage.
Huntington will not provide any employer paid life insurance to employees retiring on and after March 1, 2010.
Eligible employees will be able to convert or port their existing life insurance at their own expense under the same terms that are available to all terminated employees.
Beginning January 1, 2010, there were changes to the way the future early and normal retirement benefit is calculated under the Retirement Plan for service on and after January 1, 2010.
While these changes did not affect the benefit earned under the Retirement Plan through December 31, 2009, there was a reduction in future benefits.
In addition, employees hired or rehired on and after January 1, 2010 are not eligible to participate in the Retirement Plan.
The following table shows the weighted-average assumptions used to determine the benefit obligation at December 31, 2011 and 2010, and the net periodic benefit cost for the years then ended:
## Table 1 ##
The expected long-term rate of return on plan assets is an assumption reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the projected benefit obligation.
The expected long-term rate of return is established at the beginning of the plan year based upon historical returns and projected returns on the underlying mix of invested assets.
Huntington periodically enters into risk participation agreements in order to manage credit risk of its derivative positions.
These agreements transfer counterparty credit risk related to interest rate swaps to and from other financial institutions.
Huntington can mitigate exposure to certain counterparties or take on exposure to generate additional income.
Huntington’s notional exposure for interest rate swaps originated by other financial institutions was $582 million and $344 million at December 31, 2016 and December 31, 2015, respectively.
Huntington will make payments under these agreements if a customer defaults on its obligation to perform under the terms of the underlying interest rate derivative contract.
The amount Huntington would have to pay if all counterparties defaulted on their swap contracts is the fair value of these risk participations, which was a positive value (receivable) of $3 million at December 31, 2016 and a negative value (payable) of $6 million at December 31, 2015.
These contracts mature between 2017 and 2043 and are deemed investment grade.
Financial assets and liabilities that are offset in the Consolidated Balance Sheets Huntington records derivatives at fair value as further described in Note 18.
Huntington records these derivatives net of any master netting arrangement in the Consolidated Balance Sheets.
Collateral agreements are regularly entered into as part of the underlying derivative agreements with Huntington’s counterparties to mitigate counterparty credit risk.
All derivatives are carried on the Consolidated Balance Sheets at fair value.
Derivative balances are presented on a net basis taking into consideration the effects of legally enforceable master netting agreements.
Cash collateral exchanged with counterparties is also netted against the applicable derivative fair values.
Huntington enters into derivative transactions with two primary groups: broker-dealers and banks, and Huntington’s customers.
Different methods are utilized for managing counterparty credit exposure and credit risk for each of these groups.
Huntington enters into transactions with broker-dealers and banks for various risk management purposes.
These types of transactions generally are high dollar volume.
Huntington enters into bilateral collateral and master netting agreements with these counterparties, and routinely exchange cash and high quality securities collateral with these counterparties.
Huntington enters into transactions with customers to meet their financing, investing, payment and risk management needs.
These types of transactions generally are low dollar volume.
Huntington generally enters into master netting agreements with customer counterparties, however collateral is generally not exchanged with customer counterparties.
At December 31, 2016 and December 31, 2015, aggregate credit risk associated with these derivatives, net of collateral that has been pledged by the counterparty, was $26 million and $15 million, respectively.
The credit risk associated with interest rate swaps is calculated after considering master netting agreements with broker-dealers and banks.
At December 31, 2016, Huntington pledged $172 million of investment securities and cash collateral to counterparties, while other counterparties pledged $90 million of investment securities and cash collateral to Huntington to satisfy collateral netting agreements.
In the event of credit downgrades, Huntington would not be required to provide additional collateral.
The following tables present the gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Consolidated Balance Sheets at December 31, 2016 and December 31, 2015: Offsetting of Financial Assets and Derivative Assets
## Table 2 ##
Price Risk Price risk represents the risk of loss arising from adverse movements in the prices of financial instruments that are carried at fair value and are subject to fair value accounting.
We have price risk from trading securities, securities owned by our broker-dealer subsidiary, foreign exchange positions, equity investments, and investments in securities backed by mortgage loans.
We have established loss limits on the trading portfolio, on the amount of foreign exchange exposure that can be maintained, and on the amount of marketable equity securities that can be held.
Liquidity Risk Liquidity risk is the possibility of us being unable to meet current and future financial obligations in a timely manner.
Liquidity is managed to ensure stable, reliable, and cost-effective sources of funds to satisfy demand for credit, deposit withdrawals and investment opportunities.
We consider core earnings, strong capital ratios, and credit quality essential for maintaining high credit ratings, which allows us cost-effective access to market-based liquidity.
We rely on a large, stable core deposit base and a diversified base of wholesale funding sources to manage liquidity risk.
The ALCO is appointed by the ROC to oversee liquidity risk management and the establishment of liquidity risk policies and limits.
The treasury department is responsible for identifying, measuring, and monitoring our liquidity profile.
The position is evaluated daily, weekly, and monthly by analyzing the composition of all funding sources, reviewing projected liquidity commitments by future months, and identifying sources and uses of funds.
The overall management of our liquidity position is also integrated into retail and commercial pricing policies to ensure a stable core deposit base.
Liquidity risk is reviewed and managed continuously for the Bank and the parent company, as well as its subsidiaries.
In addition, liquidity working groups meet regularly to identify and monitor liquidity positions, provide policy guidance, review funding strategies, and oversee the adherence to, and maintenance of, the contingency funding plans.
Our primary source of liquidity is our core deposit base.
Core deposits comprised approximately 94% of total deposits at December 31, 2016.
We also have available unused wholesale sources of liquidity, including advances from the FHLB of Cincinnati, issuance through dealers in the capital markets, and access to certificates of deposit issued through brokers.
Liquidity is further provided by unencumbered, or unpledged, investment securities that totaled $15.0 billion as of December 31, 2016.
The treasury department also prepares a contingency funding plan that details the potential erosion of funds in the event of a systemic financial market crisis or institutional-specific stress scenario.
An example of an institution specific event would be a downgrade in our public credit rating by a rating agency due to factors such as deterioration in asset quality, a large charge to earnings, a decline in profitability or other financial measures, or a significant merger or acquisition.
Examples of systemic events unrelated to us that could have an effect on our access to liquidity would be terrorism or war, natural disasters, political events, or the default or bankruptcy of a major corporation, mutual fund or hedge fund.
Similarly, market speculation or rumors about us, or the banking industry in general, may adversely affect the cost and availability of normal funding sources.
The liquidity contingency plan therefore outlines the process for addressing a liquidity crisis.
The plan provides for an evaluation of funding sources under various market conditions.
It also assigns specific roles and responsibilities and communication protocols for effectively managing liquidity through a problem period.
Available-for-sale and other securities portfolio (This section should be read in conjunction with Note 5 of the Notes to Consolidated Financial Statements. )
Our investment securities portfolio is evaluated under established asset/liability management objectives.
Changing market conditions could affect the profitability of the portfolio, as well as the level of interest rate risk exposure.
The composition and maturity of the portfolio is presented on the following two tables: Table 23 - Available-for-sale and other securities Portfolio Summary at Fair Value

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>2006</td><td>2005</td><td>2004</td></tr><tr><td>Changes in fair value of derivatives</td><td>$11</td><td>$7</td><td>$-21</td></tr><tr><td>Adjustment for net losses realized and included in net income</td><td>-12</td><td>1</td><td>33</td></tr><tr><td>Change in unrealized gain/loss on derivative instruments</td><td>$-1</td><td>$8</td><td>$12</td></tr></table>
<table><tr><td></td><td colspan="2">Pension Benefits</td><td colspan="2"> Post-Retirement Benefits</td></tr><tr><td></td><td>2011</td><td>2010</td><td>2011</td><td> 2010</td></tr><tr><td>Weighted-average assumptions used to determine benefit obligations</td><td></td><td></td><td></td><td></td></tr><tr><td>Discount rate</td><td>4.57%</td><td>5.35%</td><td>4.34%</td><td>5.00%</td></tr><tr><td>Rate of compensation increase</td><td>4.50</td><td>4.50</td><td>N/A</td><td>N/A</td></tr><tr><td>Weighted-average assumptions used to determine net periodic benefit cost</td><td></td><td></td><td></td><td></td></tr><tr><td>Discount rate</td><td>5.35</td><td>5.88</td><td>5.00</td><td>5.54</td></tr><tr><td>Expected return on plan assets</td><td>8.00</td><td>8.00</td><td>N/A</td><td>N/A</td></tr><tr><td>Rate of compensation increase</td><td>4.50</td><td>4.50</td><td>N/A</td><td>N/A</td></tr></table>
<table><tr><td></td><td></td><td></td><td></td><td></td><td colspan="2">Gross amounts not offset inthe consolidated balancesheets</td><td></td></tr><tr><td>(dollar amounts in thousands)</td><td></td><td>Gross amountsof recognizedassets</td><td>Gross amountsoffset in theconsolidatedbalance sheets</td><td>Net amounts ofassetspresented intheconsolidatedbalance sheets</td><td>Financialinstruments</td><td>Cash collateralreceived</td><td>Net amount</td></tr><tr><td>Offsetting of Financial Assets and Derivative Assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>December 31, 2016</td><td>Derivatives</td><td>$420,159</td><td>$-181,940</td><td>$238,219</td><td>$-34,328</td><td>$-5,428</td><td>$198,463</td></tr><tr><td>December 31, 2015</td><td>Derivatives</td><td>436,169</td><td>-161,297</td><td>274,872</td><td>-39,305</td><td>-3,462</td><td>232,105</td></tr></table>

Question: What is the sum of the Rate of compensation increase for Pension Benefits in the years where Expected return on plan assets rate greater than 5 for Pension Benefits?
Answer: 9
Reasoning program: add(4.50,4.50)