CitiCapital On July31, 2008, Citigroup sold substantially all of CitiCapital, the equipment finance unit in North America.
The total proceeds from the transaction were approximately $12.5billion and resulted in an after-tax loss to Citigroup of $305 million.
This loss is included in Income from discontinued operations on the Company’s Consolidated Statement of Income for the second quarter of 2008.
The assets and liabilities for CitiCapital totaled approximately $12.9billion and $0.5billion, respectively, at June30, 2008.
This transaction encompassed seven CitiCapital equipment finance business lines, including Healthcare Finance, Private Label Equipment Finance, Material Handling Finance, Franchise Finance, Construction Equipment Finance, Bankers Leasing, and CitiCapital Canada.
CitiCapital’s Tax Exempt Finance business was not part of the transaction and was retained by Citigroup.
CitiCapital had approximately 1,400 employees and 160,000 customers throughout North America.
Results for all of the CitiCapital businesses sold, as well as the net loss recognized in 2008 from this sale, are reported as Discontinued operations for all periods presented.
Summarized financial information for Discontinued operations, including cash flows, related to the sale of CitiCapital is as follows:
## Table 0 ##
Combined Results for Discontinued Operations The following is summarized financial information for the SLC business, Nikko Cordial business, German retail banking operations and CitiCapital business.
In addition to the businesses noted above, the following affected Discontinued operations.
During 2010, certain tax reserves were released, in relation to the sale of Citigroup’s Life Insurance and Annuity business in 2005, due to favorable resolutions with the IRS.
This resulted in an aftertax gain of $59 million in 2010.
During 2009, contingent consideration payments of $29 million pretax ($19 million after tax) were received related to the sale of Citigroup’s Asset Management business, which was sold in December 2005.
During 2008, in relation to the sale of its Life Insurance and Annuity business in 2005, the Company fulfilled its previously agreed upon obligations with regard to its remaining 10% economic interest in the longterm care business that it had sold to the predecessor of Genworth Financial in 2000.
The reimbursement resulted in a pretax loss of $50 million ($33 million after tax) at December 31, 2008.
The Asset Management and the Life Insurance and Annuity transactions are included in these balances.
## Table 1 ##
(1) Total revenues include gain or loss on sale, if applicable.
The following table provides information about certain mortgage loans HFS carried at fair value at December 31, 2010 and, 2009:
## Table 2 ##
The changes in fair values of these mortgage loans are reported in Other revenue in the Company’s Consolidated Statement of Income.
The changes in fair value during the years ended December 31, 2010 and 2009 due to instrument-specific credit risk resulted in a loss of $1 million and $4 million, respectively.
Related interest income continues to be measured based on the contractual interest rates and reported as such in the Consolidated Statement of Income.
Certain consolidated VIEs The Company has elected the fair value option for all qualified assets and liabilities of certain VIEs that were consolidated upon the adoption of SFAS 167 on January 1, 2010, including certain private label mortgage securitizations, mutual fund deferred sales commissions and collateralized loan obligation VIEs.
The Company elected the fair value option for these VIEs as the Company believes this method better reflects the economic risks, since substantially all of the Company’s retained interests in these entities are carried at fair value.
With respect to the consolidated mortgage VIEs, the Company determined the fair value for the mortgage loans and long-term debt utilizing internal valuation techniques.
The fair value of the long-term debt measured using internal valuation techniques is verified, where possible, to prices obtained from independent vendors.
Vendors compile prices from various sources and may apply matrix pricing for similar securities when no price is observable.
Security pricing associated with long-term debt that is verified is classified as Level 2 and non-verified debt is classified as Level 3.
The fair value of mortgage loans of each VIE is derived from the security pricing.
When substantially all of the long-term debt of a VIE is valued using Level 2 inputs, the corresponding mortgage loans are classified as Level 2.
Otherwise, the mortgage loans of a VIE are classified as Level 3.
With respect to the consolidated mortgage VIEs for which the fair value option was elected, the mortgage loans are classified as Loans on Citigroup’s Consolidated Balance Sheet.
The changes in fair value of the loans are reported as Other revenue in the Company’s Consolidated Statement of Income.
Related interest revenue is measured based on the contractual interest rates and reported as Interest revenue in the Company’s Consolidated Statement of Income.
Information about these mortgage loans is included in the table below.
The change in fair value of these loans due to instrument-specific credit risk was a gain of $190 million for the year ended December 31, 2010.
The debt issued by these consolidated VIEs is classified as long-term debt on Citigroup’s Consolidated Balance Sheet.
The changes in fair value for the majority of these liabilities are reported in Other revenue in the Company’s Consolidated Statement of Income.
Related interest expense is measured based on the contractual interest rates and reported as such in the Consolidated Statement of Income.
The aggregate unpaid principal balance of long-term debt of these consolidated VIEs exceeded the aggregate fair value by $857 million as of December 31, 2010.
The following table provides information about Corporate and Consumer loans of consolidated VIEs carried at fair value:
## Table 3 ##
Mortgage servicing rights The Company accounts for mortgage servicing rights (MSRs) at fair value.
Fair value for MSRs is determined using an option-adjusted spread valuation approach.
This approach consists of projecting servicing cash flows under multiple interest-rate scenarios and discounting these cash flows using risk-adjusted rates.
The model assumptions used in the valuation of MSRs include mortgage prepayment speeds and discount rates.
The fair value of MSRs is primarily affected by changes in prepayments that result from shifts in mortgage interest rates.
In managing this risk, the Company hedges a significant portion of the values of its MSRs through the use of interest-rate derivative contracts, forward-purchase commitments of mortgage-backed securities, and purchased securities classified as trading.
See Note 22 to the Consolidated Financial Statements for further discussions regarding the accounting and reporting of MSRs.
These MSRs, which totaled $4.554billion and $6.530billion as of December31, 2010 and 2009, respectively, are classified as Mortgage servicing rights on Citigroup’s Consolidated Balance Sheet.
Changes in fair value of MSRs are recorded in Other revenue in the Company’s Consolidated Statement of Income.
## Table 4 ##
(1) The carrying values of guarantees of collections of contractual cash flows, securities lending indemnifications and credit card merchant processing are not material, as the Company has determined that the amount and probability of potential liabilities arising from these guarantees are not significant.
Financial standby letters of credit Citigroup issues standby letters of credit which substitute its own credit for that of the borrower.
If a letter of credit is drawn down, the borrower is obligated to repay Citigroup.
Standby letters of credit protect a third party from defaults on contractual obligations.
Financial standby letters of credit include guarantees of payment of insurance premiums and reinsurance risks that support industrial revenue bond underwriting and settlement of payment obligations to clearing houses, and also support options and purchases of securities or are in lieu of escrow deposit accounts.
Financial standbys also backstop loans, credit facilities, promissory notes and trade acceptances.
Performance guarantees Performance guarantees and letters of credit are issued to guarantee a customer’s tender bid on a construction or systems-installation project or to guarantee completion of such projects in accordance with contract terms.
They are also issued to support a customer’s obligation to supply specified products, commodities, or maintenance or warranty services to a third party.
Derivative instruments considered to be guarantees Derivatives are financial instruments whose cash flows are based on a notional amount and an underlying, where there is little or no initial investment, and whose terms require or permit net settlement.
Derivatives may be used for a variety of reasons, including risk management, or to enhance returns.
Financial institutions often act as intermediaries for their clients, helping clients reduce their risks.
However, derivatives may also be used to take a risk position.
The derivative instruments considered to be guarantees, which are presented in the tables above, include only those instruments that require Citi to make payments to the counterparty based on changes in an underlying instrument that is related to an asset, a liability, or an equity security held by the guaranteed party.
More specifically, derivative instruments considered to be guarantees include certain over-the-counter written put options where the counterparty is not a bank, hedge fund or broker-dealer (such counterparties are considered to be dealers in these markets and may, therefore, not hold the underlying instruments).
However, credit derivatives sold by the Company are excluded from this presentation, as they are disclosed separately in Note23.
In addition, non-credit derivative contracts that are cash settled and for which the Company is unable to assert that it is probable the counterparty held the underlying instrument at the inception of the contract also are excluded from the disclosure above.
In instances where the Company’s maximum potential future payment is unlimited, the notional amount of the contract is disclosed.
Loans sold with recourse Loans sold with recourse represent the Company’s obligations to reimburse the buyers for loan losses under certain circumstances.
Recourse refers to the clause in a sales agreement under which a lender will fully reimburse the buyer/investor for any losses resulting from the purchased loans.
This may be accomplished by the seller’s taking back any loans that become delinquent.
In addition to the amounts shown in the table above, the repurchase reserve for Consumer mortgages representations and warranties was $969 million and $482 million at December 31, 2010 and December 31, 2009, respectively, and these amounts are included in Other liabilities on the Consolidated Balance Sheet.
Absent the impact of consolidating securitizations under SFAS 166/167, which increased long-term debt by approximately $70 billion, long-term debt decreased by $53 billion from $364 billion for the year ended December 31, 2009 to $311 billion for the year ended December 31, 2010.
The $53 billion decrease (excluding securitizations) was driven by approximately $79 billion of redemptions, maturities and business sales, which was partially offset by approximately $29 billion of issuances during the year, with the remainder primarily attributable to FX translation and fair value.
As noted in the table above, during 2010 Citi issued approximately onequarter of the amount of long-term debt it issued in 2009.
Moreover, the status of Citi’s liquidity resources and asset reductions in Citi Holdings during 2010 prompted less of a need to fully refinance long-term debt maturities.
Citi refinanced approximately $22 billion, or slightly more than half, of the approximate $40 billion long-term debt that matured during 2010 (excluding local country, securitizations and FHLB).
The table below shows the aggregate annual maturities of Citi’s long-term debt obligations:
## Table 5 ##
Long-Term Debt Funding Outlook Citi currently estimates its long-term debt maturing during 2011 to be approximately $41 billion (which excludes maturities relating to local country, securitizations and FHLB), of which approximately $20.3 billion is TLGP debt.
Given the current status of its liquidity resources and continued reductions of assets in Citi Holdings, Citi currently expects to refinance approximately $20 billion of long-term debt during 2011.
Citi does not expect to refinance its TLGP debt as it matures either during 2011 or 2012 (approximately $38 billion).
Citi continues to review its funding and liquidity needs, and may adjust its expected issuances due to market conditions or regulatory requirements, among other factors.
Secured Financing and Short-Term Borrowings As referenced above, Citi supplements its primary sources of funding with short-term borrowings.
Short-term borrowings generally include (i) secured financing (securities loaned or sold under agreements to repurchase) and (ii) short-term borrowings consisting of commercial paper and borrowings from banks and other market participants.
As required by SEC rules, the following table contains the year-end, average and maximum month-end amounts for the following respective short-term borrowing categories at the end of each of the three prior fiscal years.
## Table 6 ##
(1) Original maturities of less than one year.
(2) Rates reflect prevailing local interest rates including inflationary effects and monetary correction in certain countries.
(3) Includes $15 billion of commercial paper related to VIEs consolidated effective January 1, 2010 with the adoption of SFAS 166/167.
(4) Other short-term borrowings include broker borrowings and borrowings from banks and other market participants.
(5) Excludes discontinued operations.
While the annual average balance is primarily calculated from daily balances, in some cases, the average annual balance is calculated using a 13-point average composed of each of the month-end balances during the year plus the prior year-end ending balance.
(6) Interest rates include the effects of risk management activities.
See Notes 20 and 24 to the Consolidated Financial Statements.
(7) Based on contractual rates at year end.
The following table discloses purchases of shares of Valero’s common stock made by us or on our behalf during the fourth quarter of 2014.

Tables referenced above, in order (Table 0 first):
<table><tr><td>In millions of dollars</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Total revenues, net of interest</td><td></td><td></td><td></td></tr><tr><td>expense-1</td><td>$6</td><td>$46</td><td>$24</td></tr><tr><td>Income (loss) from discontinued operations</td><td>$-3</td><td>$-8</td><td>$40</td></tr><tr><td>Gain (loss) on sale</td><td>—</td><td>17</td><td>-506</td></tr><tr><td>Provision (benefit) for income taxes</td><td>-1</td><td>4</td><td>-202</td></tr><tr><td>Income (loss) from discontinued</td><td></td><td></td><td></td></tr><tr><td>operations, net of taxes</td><td>$-2</td><td>$5</td><td>$-264</td></tr><tr><td>In millions of dollars</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Cash flows from operating activities</td><td>$—</td><td>$—</td><td>$-287</td></tr><tr><td>Cash flows from investing activities</td><td>—</td><td>—</td><td>349</td></tr><tr><td>Cash flows from financing activities</td><td>—</td><td>—</td><td>-61</td></tr><tr><td>Net cash provided by</td><td></td><td></td><td></td></tr><tr><td>discontinued operations</td><td>$—</td><td>$—</td><td>$1</td></tr></table>
<table><tr><td>In millions of dollars</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Total revenues, net of interest</td><td></td><td></td><td></td></tr><tr><td>expense-1</td><td>$-410</td><td>$779</td><td>$7,810</td></tr><tr><td>Income (loss) from discontinued operations</td><td>$72</td><td>$-653</td><td>$784</td></tr><tr><td>Gain (loss) on sale</td><td>-702</td><td>102</td><td>3,139</td></tr><tr><td>Benefit for income taxes</td><td>-562</td><td>-106</td><td>-79</td></tr><tr><td>Income (loss) from discontinued</td><td></td><td></td><td></td></tr><tr><td>operations, net of taxes</td><td>$-68</td><td>$-445</td><td>$4,002</td></tr><tr><td>In millions of dollars</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Cash flows from operating activities</td><td>$4,974</td><td>$-1,825</td><td>$-5,681</td></tr><tr><td>Cash flows from investing activities</td><td>1,726</td><td>1,854</td><td>19,664</td></tr><tr><td>Cash flows from financing activities</td><td>-6,486</td><td>-6</td><td>-14,287</td></tr><tr><td>Net cash provided by (used in)</td><td></td><td></td><td></td></tr><tr><td>discontinued operations</td><td>$214</td><td>$23</td><td>$-304</td></tr></table>
<table><tr><td>In millions of dollars</td><td>December 31, 2010</td><td>December 31, 2009</td></tr><tr><td>Carrying amount reported on the Consolidated Balance Sheet</td><td>$7,230</td><td>$3,338</td></tr><tr><td>Aggregate fair value in excess of unpaid principal balance</td><td>81</td><td>55</td></tr><tr><td>Balance of non-accrual loans or loans more than 90 days past due</td><td>1</td><td>4</td></tr><tr><td>Aggregate unpaid principal balance in excess of fair value for non-accrual loans or loans more than 90 days past due</td><td>1</td><td>3</td></tr></table>
<table><tr><td></td><td colspan="2">December 31, 2010</td></tr><tr><td>In millions of dollars</td><td>Corporate loans</td><td>Consumer loans</td></tr><tr><td>Carrying amount reported on the</td><td></td><td></td></tr><tr><td>Consolidated Balance Sheet</td><td>$425</td><td>$1,718</td></tr><tr><td>Aggregate unpaid principal balance in</td><td></td><td></td></tr><tr><td>excess of fair value</td><td>357</td><td>527</td></tr><tr><td>Balance of non-accrual loans or loans more</td><td></td><td></td></tr><tr><td>than 90 days past due</td><td>45</td><td>133</td></tr><tr><td>Aggregate unpaid principal balance in excess</td><td></td><td></td></tr><tr><td>of fair value for non-accrual loans or loans</td><td></td><td></td></tr><tr><td>more than 90 days past due</td><td>43</td><td>139</td></tr></table>
<table><tr><td></td><td colspan="3">Maximum potential amount of future payments</td><td></td></tr><tr><td>In billions of dollars at December 31,</td><td rowspan="2">Expire within 1 year</td><td rowspan="2">Expire after 1 year</td><td rowspan="2">Total amount outstanding</td><td rowspan="2">Carrying value (in millions)</td></tr><tr><td>except carrying value in millions</td></tr><tr><td>2009</td><td></td><td></td><td></td><td></td></tr><tr><td>Financial standby letters of credit</td><td>$41.4</td><td>$48.0</td><td>$89.4</td><td>$438.8</td></tr><tr><td>Performance guarantees</td><td>9.4</td><td>4.5</td><td>13.9</td><td>32.4</td></tr><tr><td>Derivative instruments considered to be guarantees</td><td>4.1</td><td>3.6</td><td>7.7</td><td>569.2</td></tr><tr><td>Loans sold with recourse</td><td>—</td><td>0.3</td><td>0.3</td><td>76.6</td></tr><tr><td>Securities lending indemnifications-1</td><td>64.5</td><td>—</td><td>64.5</td><td>—</td></tr><tr><td>Credit card merchant processing-1</td><td>59.7</td><td>—</td><td>59.7</td><td>—</td></tr><tr><td>Custody indemnifications and other</td><td>—</td><td>26.7</td><td>26.7</td><td>121.4</td></tr><tr><td>Total</td><td>$179.1</td><td>$83.1</td><td>$262.2</td><td>$1,238.4</td></tr></table>
<table><tr><td></td><td colspan="7">Long-term debt maturities by year</td></tr><tr><td>In billions of dollars</td><td>2011</td><td>2012</td><td>2013</td><td>2014</td><td>2015</td><td>Thereafter</td><td>Total</td></tr><tr><td>Senior/subordinated debt</td><td>$41.5</td><td>$62.6</td><td>$27.0</td><td>$23.1</td><td>$15.5</td><td>$85.1</td><td>$254.8</td></tr><tr><td>Local country maturities</td><td>5.2</td><td>5.3</td><td>3.5</td><td>2.3</td><td>1.0</td><td>2.9</td><td>20.2</td></tr><tr><td>Trust preferred securities (TRUPS)</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>18.1</td><td>18.1</td></tr><tr><td>Securitized debt and securitizations</td><td>12.3</td><td>26.3</td><td>4.2</td><td>6.6</td><td>5.4</td><td>15.3</td><td>70.1</td></tr><tr><td>FHLB borrowings</td><td>12.5</td><td>—</td><td>2.5</td><td>—</td><td>—</td><td>3.0</td><td>18.0</td></tr><tr><td>Total long-term debt</td><td>$71.5</td><td>$94.2</td><td>$37.2</td><td>$32.0</td><td>$21.9</td><td>$124.4</td><td>$381.2</td></tr></table>
<table><tr><td></td><td colspan="3">Federal funds purchased and securities sold under</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td colspan="3">agreements to</td><td colspan="6">Short-term borrowings</td><td>-1</td></tr><tr><td></td><td colspan="3">repurchase-2</td><td colspan="3">Commercial paper-3</td><td colspan="3">Other short-term borrowings</td><td>-4</td></tr><tr><td>In billions of dollars</td><td>2010</td><td>2009</td><td>2008</td><td>2010</td><td>2009</td><td>2008</td><td>2010</td><td>2009</td><td>2008</td><td></td></tr><tr><td>Amounts outstanding at year end</td><td>$189.6</td><td>$154.3</td><td>$205.3</td><td>$24.7</td><td>$10.2</td><td>$29.1</td><td>$54.1</td><td>$58.7</td><td>$97.6</td><td></td></tr><tr><td>Average outstanding during the year-5</td><td>212.3</td><td>205.6</td><td>281.5</td><td>35.0</td><td>24.7</td><td>31.9</td><td>68.8</td><td>76.5</td><td>82.6</td><td></td></tr><tr><td>Maximum month-end outstanding</td><td>246.5</td><td>252.2</td><td>354.7</td><td>40.1</td><td>36.9</td><td>41.2</td><td>106.0</td><td>99.8</td><td>121.8</td><td></td></tr><tr><td>Weighted-average interest rate</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>During the year-5(6)</td><td>1.32%</td><td>1.67%</td><td>4.00%</td><td>0.15%</td><td>0.99%</td><td>3.10%</td><td>1.26%</td><td>1.54%</td><td>1.70%</td><td></td></tr><tr><td>At year end-7</td><td>0.99</td><td>0.85</td><td>2.22</td><td>0.35</td><td>0.34</td><td>1.67</td><td>0.40</td><td>0.66</td><td>2.40</td><td></td></tr></table>

Question: What's the total amount of the Total long-term debt in the years where FHLB borrowings is greater than 0? (in billion)
Answer: 108.7
Reasoning program: add(71.5,37.2)