Table of Contents Liquidity and Capital Resources The following table presents selected financial information and statistics as of and for the years ended September 27, 2014, September 28, 2013 and September 29, 2012 (in millions):
## Table 0 ##
The Company believes its existing balances of cash, cash equivalents and marketable securities will be sufficient to satisfy its working capital needs, capital asset purchases, outstanding commitments and other liquidity requirements associated with its existing operations over the next 12 months.
To provide additional flexibility in managing liquidity, the Company began accessing the commercial paper markets in the third quarter of 2014.
The Company currently anticipates the cash used for future dividends and the share repurchase program will come from its current domestic cash, cash generated from on-going U. S.  operating activities and from borrowings.
As of September 27, 2014 and September 28, 2013, $137.1 billion and $111.3 billion, respectively, of the Company’s cash, cash equivalents and marketable securities were held by foreign subsidiaries and are generally based in U. S.  dollar-denominated holdings.
Amounts held by foreign subsidiaries are generally subject to U. S.  income taxation on repatriation to the U. S.  The Company’s marketable securities investment portfolio is invested primarily in highly-rated securities and its investment policy generally limits the amount of credit exposure to any one issuer.
The policy requires investments generally to be investment grade with the objective of minimizing the potential risk of principal loss.
During 2014, cash generated from operating activities of $59.7 billion was a result of $39.5 billion of net income, non-cash adjustments to net income of $13.2 billion and an increase in net change in operating assets and liabilities of $7.0 billion.
Cash used in investing activities of $22.6 billion during 2014 consisted primarily of cash used for purchases of marketable securities, net of sales and maturities, of $9.0 billion; cash used to acquire property, plant and equipment of $9.6 billion; and cash paid for business acquisitions, net of cash acquired, of $3.8 billion.
Cash used in financing activities of $37.5 billion during 2014 consisted primarily of cash used to repurchase common stock of $45.0 billion and cash used to pay dividends and dividend equivalents of $11.1 billion, partially offset by net proceeds from the issuance of long-term debt and commercial paper of $12.0 billion and $6.3 billion, respectively.
During 2013, cash generated from operating activities of $53.7 billion was a result of $37.0 billion of net income, non-cash adjustments to net income of $10.2 billion and an increase in net change in operating assets and liabilities of $6.5 billion.
Cash used in investing activities of $33.8 billion during 2013 consisted primarily of cash used for purchases of marketable securities, net of sales and maturities, of $24.0 billion and cash used to acquire property, plant and equipment of $8.2 billion.
Cash used in financing activities of $16.4 billion during 2013 consisted primarily of cash used to repurchase common stock of $22.9 billion and cash used to pay dividends and dividend equivalents of $10.6 billion, partially offset by net proceeds from the issuance of long-term debt of $16.9 billion.
Apple Inc.  | 2014 Form 10-K | 35
M & T BANK CORPORAT ION AND SUBSIDIARIES Notes to Financial Statements — (Continued) operating in markets served by the Company.
The Company believes that the carrying amounts, which are included in other liabilities, are reasonable estimates of the fair value of these financial instruments.
The Company does not believe that the estimated information presented herein is representative of the earnings power or value of the Company.
The preceding analysis, which is inherently limited in depicting fair value, also does not consider any value associated with existing customer relationships nor the ability of the Company to create value through loan origination, deposit gathering or fee generating activities.
Many of the estimates presented herein are based upon the use of highly subjective information and assumptions and, accordingly, the results may not be precise.
Management believes that fair value estimates may not be comparable between financial institutions due to the wide range of permitted valuation techniques and numerous estimates which must be made.
Furthermore, because the disclosed fair value amounts were estimated as of the balance sheet date, the amounts actually realized or paid upon maturity or settlement of the various financial instruments could be significantly different.21.
Commitments and contingencies In the normal course of business, various commitments and contingent liabilities are outstanding.
The following table presents the Company’s significant commitments.
Certain of these commitments are not included in the Company’s consolidated balance sheet.
## Table 1 ##
Commitments to extend credit are agreements to lend to customers, generally having fixed expiration dates or other termination clauses that may require payment of a fee.
Standby and commercial letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party.
Standby letters of credit generally are contingent upon the failure of the customer to perform according to the terms of the underlying contract with the third party, whereas commercial letters of credit are issued to facilitate commerce and typically result in the commitment being funded when the underlying transaction is consummated between the customer and third party.
The credit risk associated with commitments to extend credit and standby and commercial letters of credit is essentially the same as that involved with extending loans to customers and is subject to normal credit policies.
Collateral may be obtained based on management’s assessment of the customer’s creditworthiness.
Financial guarantees and indemnification contracts are oftentimes similar to standby letters of credit and include mandatory purchase agreements issued to ensure that customer obligations are fulfilled, recourse obligations associated with sold loans, and other guarantees of customer performance or compliance with designated rules and regulations.
Included in financial guarantees and indemnification contracts are loan principal amounts sold with recourse in conjunction with the Company’s involvement in the Fannie Mae DUS program.
The Company’s maximum credit risk for recourse associated with loans sold under this program totaled approximately $1.3 billion and $1.2 billion at December 31, 2009 and 2008, respectively
M & T BANK CORPORAT ION AND SUBSIDIARIES Notes to Financial Statements — (Continued) The financial information of the Company’s segments has been compiled utilizing the accounting policies described in note 1 with certain exceptions.
The more significant of these exceptions are described herein.
The Company allocates interest income or interest expense using a methodology that charges users of funds (assets) interest expense and credits providers of funds (liabilities) with income based on the maturity, prepayment and/or repricing characteristics of the assets and liabilities.
The net effect of this allocation is recorded in the “All Other” category.
A provision for credit losses is allocated to segments in an amount based largely on actual net charge-offs incurred by the segment during the period plus or minus an amount necessary to adjust the segment’s allowance for credit losses due to changes in loan balances.
In contrast, the level of the consolidated provision for credit losses is determined using the methodologies described in note 1 to assess the overall adequacy of the allowance for credit losses.
Indirect fixed and variable expenses incurred by certain centralized support areas are allocated to segments based on actual usage (for example, volume measurements) and other criteria.
Certain types of administrative expenses and bankwide expense accruals (including amortization of core deposit and other intangible assets associated with acquisitions of financial institutions) are generally not allocated to segments.
Income taxes are allocated to segments based on the Company’s marginal statutory tax rate adjusted for any tax-exempt income or non-deductible expenses.
Equity is allocated to the segments based on regulatory capital requirements and in proportion to an assessment of the inherent risks associated with the business of the segment (including interest, credit and operating risk).
The management accounting policies and processes utilized in compiling segment financial information are highly subjective and, unlike financial accounting, are not based on authoritative guidance similar to generally accepted accounting principles.
As a result, reported segment results are not necessarily comparable with similar information reported by other financial institutions.
Furthermore, changes in management structure or allocation methodologies and procedures may result in changes in reported segment financial data.
Information about the Company’s segments is presented in the accompanying table.
Income statement amounts are in thousands of dollars.
Balance sheet amounts are in millions of dollars.
## Table 2 ##
Bank, N. A.  are also included in core deposits.
Core deposits averaged $39.1 billion in 2009, up from $31.7 billion in 2008 and $28.6 billion in 2007.
The acquisition transactions in 2009 added $3.8 billion of core deposits on the respective acquisition dates, while the late-2007 acquisition transactions added $2.0 billion of core deposits on the respective acquisition dates.
Average core deposits of M&T Bank, N. A.  were $337 million in 2009, $274 million in 2008 and $208 million in 2007.
Excluding deposits obtained in the acquisition transactions, the growth in core deposits from 2008 to 2009 was due, in part, to the impact on the attractiveness of alternative investments to the Company’s customers resulting from lower interest rates and the recessionary environment in the U. S.  The continuing low interest rate environment has resulted in a shift in customer savings trends, as average time deposits have continued to decline, while average noninterest-bearing deposits and savings deposits have increased.
Funding provided by core deposits represented 66% of average earning assets in 2009, up significantly from 55% in each of 2008 and 2007.
Core deposits totaled $43.1 billion at December 31, 2009, compared with $34.3 billion at December 31, 2008.
Table 8 summarizes average core deposits in 2009 and percentage changes in the components of such deposits over the past two years.
Table 8 AVERAGE CORE DEPOSITS
## Table 3 ##
Domestic time deposits of $100,000 or more, deposits originated through the Company’s offshore branch office, and brokered deposits provide additional funding sources for the Company.
Domestic time deposits over $100,000, excluding brokered certificates of deposit, averaged $2.6 billion in each of 2009 and 2008, and $2.7 billion in 2007.
Offshore branch deposits, primarily comprised of accounts with balances of $100,000 or more, averaged $1.7 billion in 2009, $4.0 billion in 2008 and $4.2 billion in 2007.
Average brokered time deposits totaled $822 million in 2009, compared with $1.4 billion in 2008 and $2.1 billion in 2007, and at December 31, 2009 and 2008 totaled $868 million and $487 million, respectively.
Reflected in average brokered time deposits in 2009 were deposits obtained in the acquisition of Provident, which added approximately $601 million to the average 2009 total.
In connection with the Company’s management of interest rate risk, interest rate swap agreements have been entered into under which the Company receives a fixed rate of interest and pays a variable rate and that have notional amounts and terms substantially similar to the amounts and terms of $25 million of brokered time deposits.
The Company also had brokered NOW and brokered money-market deposit accounts, which in the aggregate averaged $757 million, $218 million and $87 million in 2009, 2008 and 2007, respectively.
The significant increase in such average brokered deposit balances in 2009 as compared with 2008 and 2007 was the result of demand for such deposits, largely resulting from the uncertain economic markets and the desire of brokerage firms to earn reasonable yields while ensuring that customer deposits were fully insured.
Offshore branch deposits and brokered deposits have been used by the Company as alternatives to short-term borrowings.
Additional amounts of offshore branch deposits or brokered deposits may be added in the future depending on market conditions, including demand by customers and other investors for those deposits, and the cost of funds available from alternative sources at the time.
The Company also uses borrowings from banks, securities dealers, various Federal Home Loan Banks (“FHLBs”), the Federal Reserve and others as sources of funding.
Short-term borrowings averaged

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>2014</td><td>2013</td><td>2012</td></tr><tr><td>Cash, cash equivalents and marketable securities</td><td>$155,239</td><td>$146,761</td><td>$121,251</td></tr><tr><td>Property, plant and equipment, net</td><td>$20,624</td><td>$16,597</td><td>$15,452</td></tr><tr><td>Long-term debt</td><td>$28,987</td><td>$16,960</td><td>$0</td></tr><tr><td>Working capital</td><td>$5,083</td><td>$29,628</td><td>$19,111</td></tr><tr><td>Cash generated by operating activities</td><td>$59,713</td><td>$53,666</td><td>$50,856</td></tr><tr><td>Cash used in investing activities</td><td>$-22,579</td><td>$-33,774</td><td>$-48,227</td></tr><tr><td>Cash used in financing activities</td><td>$-37,549</td><td>$-16,379</td><td>$-1,698</td></tr></table>
<table><tr><td></td><td colspan="2"> December 31</td></tr><tr><td></td><td> 2009</td><td> 2008</td></tr><tr><td></td><td colspan="2"> (In thousands)</td></tr><tr><td>Commitments to extend credit</td><td></td><td></td></tr><tr><td>Home equity lines of credit</td><td>$6,482,987</td><td>$5,972,541</td></tr><tr><td>Commercial real estate loans to be sold</td><td>180,498</td><td>252,559</td></tr><tr><td>Other commercial real estate and construction</td><td>1,360,805</td><td>2,238,464</td></tr><tr><td>Residential real estate loans to be sold</td><td>631,090</td><td>870,578</td></tr><tr><td>Other residential real estate</td><td>127,788</td><td>211,705</td></tr><tr><td>Commercial and other</td><td>7,155,188</td><td>6,666,988</td></tr><tr><td>Standby letters of credit</td><td>3,828,586</td><td>3,886,396</td></tr><tr><td>Commercial letters of credit</td><td>66,377</td><td>45,503</td></tr><tr><td>Financial guarantees and indemnification contracts</td><td>1,633,549</td><td>1,546,873</td></tr><tr><td>Commitments to sell real estate loans</td><td>1,239,001</td><td>1,306,041</td></tr></table>
<table><tr><td></td><td colspan="12">For the Years Ended December 31, 2009, 2008 and 2007</td></tr><tr><td></td><td colspan="3"> Business Banking</td><td colspan="3"> Commercial Banking</td><td colspan="3"> Commercial Real Estate</td><td colspan="3">Discretionary Portfolio</td></tr><tr><td></td><td> 2009</td><td> 2008</td><td> 2007</td><td> 2009</td><td> 2008</td><td> 2007</td><td> 2009</td><td> 2008</td><td> 2007</td><td>2009</td><td>2008</td><td>2007</td></tr><tr><td>Net interest income(a)</td><td>$321,208</td><td>$288,519</td><td>$289,992</td><td>$531,592</td><td>$433,238</td><td>$382,062</td><td>$346,513</td><td>$287,727</td><td>$256,299</td><td>$137,507</td><td>$144,856</td><td>$89,837</td></tr><tr><td>Noninterest income</td><td>89,043</td><td>86,293</td><td>79,454</td><td>192,979</td><td>197,515</td><td>169,157</td><td>65,224</td><td>63,288</td><td>49,496</td><td>-100,507</td><td>-140,063</td><td>-88,531</td></tr><tr><td></td><td>410,251</td><td>374,812</td><td>369,446</td><td>724,571</td><td>630,753</td><td>551,219</td><td>411,737</td><td>351,015</td><td>305,795</td><td>37,000</td><td>4,793</td><td>1,306</td></tr><tr><td>Provision for credit losses</td><td>41,923</td><td>33,529</td><td>18,580</td><td>107,871</td><td>77,104</td><td>12,190</td><td>84,614</td><td>15,507</td><td>4,150</td><td>83,139</td><td>68,766</td><td>27,507</td></tr><tr><td>Amortization of core deposit and other intangible assets</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Depreciation and other amortization</td><td>857</td><td>757</td><td>569</td><td>628</td><td>559</td><td>492</td><td>5,934</td><td>4,588</td><td>5,154</td><td>5,506</td><td>5,342</td><td>2,940</td></tr><tr><td>Other noninterest expense</td><td>158,042</td><td>137,780</td><td>126,130</td><td>210,180</td><td>191,785</td><td>170,113</td><td>103,124</td><td>89,151</td><td>74,479</td><td>27,070</td><td>45,892</td><td>14,545</td></tr><tr><td>Income (loss) before taxes</td><td>209,429</td><td>202,746</td><td>224,167</td><td>405,892</td><td>361,305</td><td>368,424</td><td>218,065</td><td>241,769</td><td>222,012</td><td>-78,715</td><td>-115,207</td><td>-43,686</td></tr><tr><td>Income tax expense (benefit)</td><td>85,387</td><td>82,686</td><td>91,437</td><td>166,459</td><td>148,136</td><td>150,976</td><td>62,711</td><td>77,478</td><td>73,769</td><td>-50,692</td><td>-67,142</td><td>-36,890</td></tr><tr><td>Net income (loss)</td><td>$124,042</td><td>$120,060</td><td>$132,730</td><td>$239,433</td><td>$213,169</td><td>$217,448</td><td>$155,354</td><td>$164,291</td><td>$148,243</td><td>$-28,023</td><td>$-48,065</td><td>$-6,796</td></tr><tr><td>Average total assets (in millions)</td><td>$4,869</td><td>$4,452</td><td>$4,179</td><td>$15,399</td><td>$14,981</td><td>$12,989</td><td>$12,842</td><td>$11,394</td><td>$9,550</td><td>$13,763</td><td>$14,179</td><td>$12,953</td></tr><tr><td>Capital expenditures (in millions)</td><td>$1</td><td>$2</td><td>$2</td><td>$—</td><td>$1</td><td>$1</td><td>$1</td><td>$—</td><td>$—</td><td>$—</td><td>$—</td><td>$—</td></tr></table>
<table><tr><td></td><td></td><td colspan="2">Percentage Increase (Decrease) from</td></tr><tr><td></td><td> 2009</td><td>2008 to 2009</td><td>2007 to 2008</td></tr><tr><td></td><td> (In millions)</td><td></td><td></td></tr><tr><td>NOW accounts</td><td>$530</td><td>6%</td><td>9%</td></tr><tr><td>Savings deposits</td><td>22,088</td><td>23</td><td>21</td></tr><tr><td>Time deposits under $100,000</td><td>5,390</td><td>-4</td><td>-3</td></tr><tr><td>Noninterest-bearing deposits</td><td>11,054</td><td>44</td><td>4</td></tr><tr><td>Total</td><td>$39,062</td><td>23%</td><td>11%</td></tr></table>

Question: In the year with largest value of Other noninterest expense for Commercial Banking, what's the increasing rate of Depreciation and other amortization for Commercial Banking?
Answer: 0.12343
Reasoning program: subtract(628,559), divide(#0,559)