Table 21 RECONCILIATION OF QUARTERLY GAAP TO NON-GAAP MEASURES
## Table 0 ##
(a) After any related tax effect.
of its investment.
As of December 31, 2014, the Company does not intend to sell nor is it anticipated that it would be required to sell any of its impaired investment securities at a loss.
At December 31, 2014, the Company has not identified events or changes in circumstances which may have a significant adverse effect on the fair value of the $329 million of cost method investment securities.
At December 31, 2014, investment securities with a carrying value of $3,825,003,000, including $2,905,457,000 of investment securities available for sale, were pledged to secure borrowings from various FHLBs, repurchase agreements, governmental deposits, interest rate swap agreements and available lines of credit as described in note 9.
Investment securities pledged by the Company to secure obligations whereby the secured party is permitted by contract or custom to sell or repledge such collateral totaled $1,631,267,000 at December 31, 2014.
The pledged securities included securities of the U. S.  Treasury and federal agencies and mortgagebacked securities.4.
Loans and leases Total loans and leases outstanding were comprised of the following:
## Table 1 ##
One-to-four family residential mortgage loans held for sale were $435 million at December 31, 2014 and $401 million at December 31, 2013.
Commercial real estate loans held for sale were $308 million at December 31, 2014 and $68 million at December 31, 2013.
During 2013, the Company securitized approximately $1.3 billion of one-to-four family residential real estate loans previously held in the Company’s loan portfolio into guaranteed mortgage-backed securities with the Government National Mortgage Association (“Ginnie Mae”) and recognized gains of $42,382,000.
In addition, the Company securitized and sold in 2013 approximately $1.4 billion of automobile loans held in its loan portfolio, resulting in a gain of $20,683,000.
As of December 31, 2014, approximately $2.4 billion of commercial real estate loan balances serviced for others had been sold with recourse in conjunction with the Company’s participation in the Fannie Mae Delegated Underwriting and Servicing (“DUS”) program.
At December 31, 2014, the Company estimated that the recourse obligations described above were not material to the Company’s consolidated financial position.
There have been no material losses incurred as a result of those credit recourse arrangements.
In addition to recourse obligations, as described in note 21, the Company is contractually obligated to repurchase previously sold residential real estate loans that do not ultimately meet investor sale criteria related to underwriting procedures or loan documentation.
When required to do so, the Company may reimburse loan purchasers for losses incurred or may repurchase certain loans.
Charges incurred for such obligation, which are recorded as a reduction of mortgage banking revenues, were $4 million, $17 million and $28 million in 2014, 2013 and 2012, respectively
For 2014, 2013 and 2012, M&T received $127 million, $172 million and $153 million, respectively, in cash and realized tax benefits from the exercise of stock options of $9 million, $12 million and $8 million, respectively.
The intrinsic value of stock options exercised during those periods was $26 million, $34 million and $21 million, respectively.
As of December 31, 2014, the amount of unrecognized compensation cost related to non-vested stock options was not significant.
The total grant date fair value of stock options vested during 2014 and 2013 was not significant, and for 2012 was $17 million.
Upon the exercise of stock options, the Company may issue shares from treasury stock to the extent available or issue new shares.
Stock purchase plan The stock purchase plan provides eligible employees of the Company with the right to purchase shares of M&T common stock at a discount through accumulated payroll deductions.
In connection with the employee stock purchase plan, 2,500,000 shares of M&T common stock were authorized for issuance under a plan adopted in 2013.
There were 85,761 shares issued in 2014, no shares issued in 2013 and 151,014 shares issued in 2012 under a previous plan.
For 2014 and 2012, M&T received $8,607,000 and $10,117,000, respectively, in cash for shares purchased through the employee stock purchase plan.
Compensation expense recognized for the stock purchase plan was not significant in 2014, 2013 or 2012.
Deferred bonus plan The Company provided a deferred bonus plan pursuant to which eligible employees could elect to defer all or a portion of their annual incentive compensation awards and allocate such awards to several investment options, including M&T common stock.
Participants could elect the timing of distributions from the plan.
Such distributions are payable in cash with the exception of balances allocated to M&T common stock which are distributable in the form of M&T common stock.
Shares of M&T common stock distributable pursuant to the terms of the deferred bonus plan were 29,297 and 33,046 at December 31, 2014 and 2013, respectively.
The obligation to issue shares is included in “common stock issuable” in the consolidated balance sheet.
Directors’ stock plan The Company maintains a compensation plan for non-employee members of the Company’s boards of directors and directors advisory councils that allows such members to receive all or a portion of their compensation in shares of M&T common stock.
Through December 31, 2014, 211,655 shares had been issued in connection with the directors’ stock plan.
Through acquisitions, the Company assumed obligations to issue shares of M&T common stock related to deferred directors compensation plans.
Shares of common stock issuable under such plans were 12,033 and 14,185 at December 31, 2014 and 2013, respectively.
The obligation to issue shares is included in “common stock issuable” in the consolidated balance sheet.12.
Pension plans and other postretirement benefits The Company provides defined benefit pension and other postretirement benefits (including health care and life insurance benefits) to qualified retired employees.
The Company uses a December 31 measurement date for all of its plans.
Net periodic pension expense for defined benefit plans consisted of the following:
## Table 2 ##

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td colspan="4">2007 Quarters</td><td colspan="4">2006 Quarters</td></tr><tr><td></td><td>Fourth</td><td>Third</td><td>Second</td><td>First</td><td>Fourth</td><td>Third</td><td>Second</td><td>First</td></tr><tr><td> Income statement data</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td><i>In thousands, except per share</i></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td> Net income</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Net income</td><td>$64,930</td><td>$199,187</td><td>$214,169</td><td>$175,973</td><td>$213,329</td><td>$210,370</td><td>$212,573</td><td>$202,917</td></tr><tr><td>Amortization of core deposit and other intangible assets(a)</td><td>9,719</td><td>9,562</td><td>10,021</td><td>11,189</td><td>11,404</td><td>12,154</td><td>6,921</td><td>7,939</td></tr><tr><td>Merger-related expenses(a)</td><td>9,070</td><td>—</td><td>—</td><td>—</td><td>—</td><td>704</td><td>2,344</td><td>—</td></tr><tr><td>Net operating income</td><td>$83,719</td><td>$208,749</td><td>$224,190</td><td>$187,162</td><td>$224,733</td><td>$223,228</td><td>$221,838</td><td>$210,856</td></tr><tr><td> Earnings per share</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Diluted earnings per common share</td><td>$.60</td><td>$1.83</td><td>$1.95</td><td>$1.57</td><td>$1.88</td><td>$1.85</td><td>$1.87</td><td>$1.77</td></tr><tr><td>Amortization of core deposit and other intangible assets(a)</td><td>.09</td><td>.09</td><td>.09</td><td>.10</td><td>.10</td><td>.10</td><td>.06</td><td>.07</td></tr><tr><td>Merger-related expenses(a)</td><td>.08</td><td>—</td><td>—</td><td>—</td><td>—</td><td>.01</td><td>.02</td><td>—</td></tr><tr><td>Diluted net operating earnings per share</td><td>$.77</td><td>$1.92</td><td>$2.04</td><td>$1.67</td><td>$1.98</td><td>$1.96</td><td>$1.95</td><td>$1.84</td></tr><tr><td> Other expense</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Other expense</td><td>$445,473</td><td>$390,528</td><td>$392,651</td><td>$399,037</td><td>$383,810</td><td>$408,941</td><td>$376,997</td><td>$382,003</td></tr><tr><td>Amortization of core deposit and other intangible assets</td><td>-15,971</td><td>-15,702</td><td>-16,457</td><td>-18,356</td><td>-18,687</td><td>-19,936</td><td>-11,357</td><td>-13,028</td></tr><tr><td>Merger-related expenses</td><td>-14,887</td><td>—</td><td>—</td><td>—</td><td>—</td><td>-1,155</td><td>-3,842</td><td>—</td></tr><tr><td>Noninterest operating expense</td><td>$414,615</td><td>$374,826</td><td>$376,194</td><td>$380,681</td><td>$365,123</td><td>$387,850</td><td>$361,798</td><td>$368,975</td></tr><tr><td> Merger-related expenses</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Salaries and employee benefits</td><td>$1,333</td><td>$—</td><td>$—</td><td>$—</td><td>$—</td><td>$305</td><td>$510</td><td>$—</td></tr><tr><td>Equipment and net occupancy</td><td>238</td><td>—</td><td>—</td><td>—</td><td>—</td><td>12</td><td>212</td><td>—</td></tr><tr><td>Printing, postage and supplies</td><td>1,474</td><td>—</td><td>—</td><td>—</td><td>—</td><td>141</td><td>14</td><td>—</td></tr><tr><td>Other costs of operations</td><td>11,842</td><td>—</td><td>—</td><td>—</td><td>—</td><td>697</td><td>3,106</td><td>—</td></tr><tr><td>Total</td><td>$14,887</td><td>$—</td><td>$—</td><td>$—</td><td>$—</td><td>$1,155</td><td>$3,842</td><td>$—</td></tr><tr><td> Balance sheet data</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td><i>In millions</i></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td> Average assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Average assets</td><td>$61,549</td><td>$57,862</td><td>$57,523</td><td>$57,207</td><td>$56,575</td><td>$56,158</td><td>$55,498</td><td>$55,106</td></tr><tr><td>Goodwill</td><td>-3,006</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,907</td></tr><tr><td>Core deposit and other intangible assets</td><td>-213</td><td>-208</td><td>-223</td><td>-241</td><td>-261</td><td>-281</td><td>-107</td><td>-112</td></tr><tr><td>Deferred taxes</td><td>25</td><td>21</td><td>24</td><td>28</td><td>32</td><td>36</td><td>40</td><td>43</td></tr><tr><td>Average tangible assets</td><td>$58,355</td><td>$54,766</td><td>$54,415</td><td>$54,085</td><td>$53,437</td><td>$53,004</td><td>$52,522</td><td>$52,130</td></tr><tr><td> Average equity</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Average equity</td><td>$6,360</td><td>$6,186</td><td>$6,172</td><td>$6,270</td><td>$6,244</td><td>$6,085</td><td>$5,940</td><td>$5,893</td></tr><tr><td>Goodwill</td><td>-3,006</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,907</td></tr><tr><td>Core deposit and other intangible assets</td><td>-213</td><td>-208</td><td>-223</td><td>-241</td><td>-261</td><td>-281</td><td>-107</td><td>-112</td></tr><tr><td>Deferred taxes</td><td>25</td><td>21</td><td>24</td><td>28</td><td>32</td><td>36</td><td>40</td><td>43</td></tr><tr><td>Average tangible equity</td><td>$3,166</td><td>$3,090</td><td>$3,064</td><td>$3,148</td><td>$3,106</td><td>$2,931</td><td>$2,964</td><td>$2,917</td></tr><tr><td> At end of quarter</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td> Total assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total assets</td><td>$64,876</td><td>$60,008</td><td>$57,869</td><td>$57,842</td><td>$57,065</td><td>$56,373</td><td>$56,507</td><td>$55,420</td></tr><tr><td>Goodwill</td><td>-3,196</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td></tr><tr><td>Core deposit and other intangible assets</td><td>-249</td><td>-200</td><td>-216</td><td>-232</td><td>-250</td><td>-271</td><td>-291</td><td>-111</td></tr><tr><td>Deferred taxes</td><td>36</td><td>20</td><td>23</td><td>26</td><td>30</td><td>34</td><td>38</td><td>43</td></tr><tr><td>Total tangible assets</td><td>$61,467</td><td>$56,919</td><td>$54,767</td><td>$54,727</td><td>$53,936</td><td>$53,227</td><td>$53,345</td><td>$52,443</td></tr><tr><td> Total equity</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Total equity</td><td>$6,485</td><td>$6,238</td><td>$6,175</td><td>$6,253</td><td>$6,281</td><td>$6,151</td><td>$6,000</td><td>$5,919</td></tr><tr><td>Goodwill</td><td>-3,196</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td><td>-2,909</td></tr><tr><td>Core deposit and other intangible assets</td><td>-249</td><td>-200</td><td>-216</td><td>-232</td><td>-250</td><td>-271</td><td>-291</td><td>-111</td></tr><tr><td>Deferred taxes</td><td>36</td><td>20</td><td>23</td><td>26</td><td>30</td><td>34</td><td>38</td><td>43</td></tr><tr><td>Total tangible equity</td><td>$3,076</td><td>$3,149</td><td>$3,073</td><td>$3,138</td><td>$3,152</td><td>$3,005</td><td>$2,838</td><td>$2,942</td></tr></table>
<table><tr><td></td><td colspan="2">December 31</td></tr><tr><td></td><td>2014</td><td>2013</td></tr><tr><td></td><td colspan="2">(In thousands)</td></tr><tr><td>Loans</td><td></td><td></td></tr><tr><td>Commercial, financial, etc.</td><td>$18,280,049</td><td>$17,477,238</td></tr><tr><td>Real estate:</td><td></td><td></td></tr><tr><td>Residential</td><td>8,636,794</td><td>8,911,554</td></tr><tr><td>Commercial</td><td>22,614,174</td><td>21,799,886</td></tr><tr><td>Construction</td><td>5,061,269</td><td>4,457,650</td></tr><tr><td>Consumer</td><td>10,969,879</td><td>10,280,527</td></tr><tr><td>Total loans</td><td>65,562,165</td><td>62,926,855</td></tr><tr><td>Leases</td><td></td><td></td></tr><tr><td>Commercial</td><td>1,337,204</td><td>1,398,928</td></tr><tr><td>Total loans and leases</td><td>66,899,369</td><td>64,325,783</td></tr><tr><td>Less: unearned discount</td><td>-230,413</td><td>-252,624</td></tr><tr><td>Total loans and leases, net of unearned discount</td><td>$66,668,956</td><td>$64,073,159</td></tr></table>
<table><tr><td></td><td colspan="3">Year Ended December 31</td></tr><tr><td></td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td></td><td colspan="3">(In thousands)</td></tr><tr><td>Service cost</td><td>$20,520</td><td>$24,360</td><td>$29,549</td></tr><tr><td>Interest cost on benefit obligation</td><td>69,162</td><td>60,130</td><td>62,037</td></tr><tr><td>Expected return on plan assets</td><td>-91,568</td><td>-87,353</td><td>-70,511</td></tr><tr><td>Amortization of prior service credit</td><td>-6,552</td><td>-6,556</td><td>-6,559</td></tr><tr><td>Recognized net actuarial loss</td><td>14,494</td><td>41,076</td><td>37,386</td></tr><tr><td>Net periodic pension expense</td><td>$6,056</td><td>$31,657</td><td>$51,902</td></tr></table>

Question: What's the sum of the Amortization of prior service credit in the years where Total loans for loans is positive? (in thousand)
Answer: -13108
Reasoning program: subtract(-6552,6556)