Table VII Allowance for Credit Losses
## Table 0 ##
(1) The 2010 balance includes $10.8 billion of allowance for loan and lease losses related to the adoption of consolidation guidance that was effective January 1, 2010.
(2) Includes U. S.  small business commercial charge-offs of $799 million, $1.1 billion, $2.0 billion, $3.0 billion and $2.0 billion in 2012, 2011, 2010, 2009 and 2008, respectively.
(3) Includes U. S.  small business commercial recoveries of $100 million, $106 million, $107 million, $65 million and $39 million in 2012, 2011, 2010, 2009 and 2008, respectively.
(4) The 2012 and 2011 amounts primarily represent the net impact of portfolio sales, consolidations and deconsolidations, and foreign currency translation adjustments.
In addition, the 2011 amount includes a $449 million reduction in the allowance for loan and lease losses related to Canadian consumer card loans that were transferred to LHFS.
The 2009 amount includes a $750 million reduction in the allowance for loan and lease losses related to credit card loans of $8.5 billion which were exchanged for $7.8 billion in held-to-maturity debt securities that were issued by the Corporation’s U. S.  Credit Card Securitization Trust and retained by the Corporation.
The 2008 amount includes the $1.2 billion addition to the Countrywide allowance for loan losses as of July 1, 2008.
(5) The 2012, 2011 and 2010 amounts primarily represent accretion of the Merrill Lynch purchase accounting adjustment and the impact of funding previously unfunded positions.
The 2009 amount includes the remaining balance of the acquired Merrill Lynch reserve excluding those commitments accounted for under the fair value option, net of accretion, and the impact of funding previously unfunded positions.
At December 31, 2005, estimated total future postretirement benefit payments, net of participant contributions and estimated future Medicare Part D subsidy receipts are as follows:
## Table 1 ##
NON-U.
S.  POSTRETIREMENT BENEFITS In addition to the U. S.  plan, certain Canadian and Brazilian employees are eligible for retiree health care and life insurance.
Net postretirement benefit cost for our non-U.
S.  plans was $3 million for 2005 and $2 million for 2004.
The benefit obligation for these plans was $21 million in 2005 and $20 million in 2004.
NOTE 17 INCENTIVE PLANS International Paper currently has a Long-Term Incentive Compensation Plan (LTICP) that includes a Stock Option Program, a Restricted Performance Share Program and a Continuity Award Program, administered by a committee of nonemployee members of the Board of Directors (Committee) who are not eligible for awards.
Also, stock appreciation rights (SAR’s) have been awarded to employees of a non-U.
S.  subsidiary, with 5,135 and 5,435 rights outstanding at December 31, 2005 and 2004, respectively.
We also have other performance-based restricted share/unit programs available to senior executives and directors.
International Paper applies the provisions of APB Opinion No.25, “Accounting for Stock Issued to Employees,” and related interpretations and the disclosure provisions of SFAS No.123, “Accounting for Stock-Based Compensation,” in accounting for our plans.
SFAS No.123(R) will be adopted effective January 1, 2006.
As no unvested stock options were outstanding at this date, the Company believes that the adoption will not have a material impact on its consolidated financial statements.
STOCK OPTION PROGRAM International Paper accounts for stock options using the intrinsic value method under APB Opinion No.25.
Under this method, compensation expense is recorded over the related service period when the market price exceeds the option price at the measurement date, which is the grant date for International Paper’s options.
No compensation expense is recorded as options are issued with an exercise price equal to the market price of International Paper stock on the grant date.
During each reporting period, fully diluted earnings per share is calculated by assuming that “in-the-money” options are exercised and the exercise proceeds are used to repurchase shares in the marketplace.
When options are actually exercised, option proceeds are credited to equity and issued shares are included in the computation of earnings per common share, with no effect on reported earnings.
Equity is also increased by the tax benefit that International Paper will receive in its tax return for income reported by the optionees in their individual tax returns.
Under the program, officers and certain other employees may be granted options to purchase International Paper common stock.
The option price is the market price of the stock on the close of business on the day prior to the date of grant.
Options must be vested before they can be exercised.
Upon exercise of an option, a replacement option may be granted under certain circumstances with an exercise price equal to the market price at the time of exercise and with a term extending to the expiration date of the original option.
The Company discontinued its stock option program in 2004 for members of executive management, and in 2005 for all other eligible U. S.  and non-U.
S.  employees.
In the United States, the stock option program was replaced with a performance-based restricted share program for approximately 1,250 employees to more closely tie long-term incentive compensation to Company performance on two key performance drivers: return on investment (ROI) and total shareholder return (TSR).
As part of this shift in focus away from stock options to performance-based restricted stock, the Company accelerated the vesting of all 14 million unvested stock options to July 12, 2005.
The Company also considered the benefit to employees and the income statement impact in making its decision to accelerate the vesting of these options.
Based on the market value of the Company’s common stock on July 12, 2005, the exercise prices of all such stock options were above the market value and, accordingly, the Company recorded no expense as a result of this action.
interest must be offered for sale to the Indonesian parties is the highest of the then-current replacement cost, the price at which shares would be accepted for listing on the Jakarta Stock Exchange, or the fair market value of such interest as a going concern, as agreed with the Indonesian government.
Pursuant to this provision, it is possible that the ownership interest of the Newmont/Sumitomo partnership in PTNNT, owner of Batu Hijau, could be reduced to 49%.
PTPI has owned and continues to own a 20% interest in PTNNT, and therefore the Newmont/Sumitomo partnership was required to offer a 3% interest for sale in 2006 and an additional 7% interest in 2007.
A further 7% interest will be offered for sale in March 2008.
In accordance with the Contract of Work, an offer to sell a 3% interest was made to the government of Indonesia in 2006 and an offer for an additional 7% interest was made in 2007.
While the central government declined to participate in the offer, local governments in the area in which the Batu Hijau mine is located have expressed interest in acquiring shares, as have various Indonesian nationals.
In January 2008, the Newmont/Sumitomo partnership agreed to sell, under a carried interest arrangement, 2% of PTNNT’s shares to Kabupaten Sumbawa, one of the local governments, subject to satisfaction of closing conditions.
On February 11, 2008, PTNNT received notification from the Department of Energy and Mineral Resources (DEMR) alleging that PTNNT is in breach of its divestiture requirements under the Contract of Work and threatening to issue a notice to terminate the Contract of Work if PTNNT does not agree to divest the 2006 and 2007 shares, in accordance with the direction of the DEMR, by February 22, 2008.
Newmont and Sumitomo believe there is no basis under the Contract of Work for this notification and no grounds for terminating the Contract of Work, and are currently evaluating possible responses to the February 11, 2008 default notice, including filing for international arbitration as provided for under the Contract of Work.
Newmont and Sumitomo are in discussions with officials of the Government of Indonesia to attempt to clarify or resolve this issue.
The Company has been in discussions to renew its forest use permit (called a pinjam pakai) for over two years.
This permit is a key requirement to continue to efficiently operate the Batu Hijau mine.
The permit renewal has not been received and in the event it is not received by May 2008, it could have an adverse impact on operating and financial results.
Representatives of the Indonesian government, including the Ministry of Forestry, have assured us that the permit will be issued in due course.
For more information on the results of the Batu Hijau operations, see Note 30 to the Consolidated Financial Statements.
Ahafo Operations
## Table 2 ##
(1) Excludes depreciation, depletion and amortization and loss on settlement of price-capped forward sales contracts.
Gold ounces sold at Ahafo increased in 2007 compared to 2006 as a result of a full year of production in 2007.
Costs applicable to sales per ounce increased due to higher mining and milling costs.
Mining costs increased primarily due to higher waste stripping in the Apensu pit, higher fuel, pit dewatering and maintenance costs.
Milling costs increased due to higher electricity and maintenance costs.
Costs applicable to sales in 2006 also benefited from the capitalization of pre-production costs.
During 2007, better than expected ore grades and mill recovery rates were realized, which resulted in higher than expected production at Ahafo.
Mill ore grades were higher than expected due to ore control improvement programs implemented during the year.
Increased mill recoveries were a result of higher than expected yields from the transitional ore mined at the Apensu deposit.
## Table 3 ##
Orkin Franchises The Company continues to expand its growth through Orkin’s franchise program.
This program is primarily used in smaller markets where it is currently not economically feasible to locate a conventional Orkin branch.
Domestic franchisees are subject to a contractual buyback provision at Orkin’s option with a predetermined purchase price using a formula applied to revenues of the franchise.
International franchise agreements also contain an optional buyback provision; however, the franchisee has the prior right of renewal of agreement.
The Company through its whollyowned Orkin subsidiary began its Orkin franchise program in the U. S.  in 1994, and established its first international franchise in 2000 and since has expanded to Central America, South America, the Caribbean, the Middle East, Asia, the Mediterranean, Europe, Africa and Mexico.
## Table 4 ##
Seasonality The business of the Company is affected by the seasonal nature of the Company’s pest and termite control services.
The increase in pest presence and activity, as well as the metamorphosis of termites in the spring and summer (the occurrence of which is determined by the timing of the change in seasons), has historically resulted in an increase in the revenue of the Company’s pest and termite control operations during such periods as evidenced by the following chart.
## Table 5 ##
Inventories The Company has relationships with a national pest control product distributor and other vendors for pest and termite control treatment products.
The Company maintains a sufficient level of chemicals, materials and other supplies to fulfill its immediate servicing needs and to alleviate any potential short-term shortage in availability from its national network of suppliers.
Competition The Company believes that Rollins, through its wholly-owned subsidiaries Orkin, Orkin Canada, HomeTeam Pest Defense, Western Pest Services, The Industrial Fumigant Company, Crane Pest Control, Waltham Services and TruTech competes favorably with competitors as the world’s largest pest and termite control company.
The Company’s competitors include Terminix, Ecolab and Rentokil.
The principal methods of competition in the Company’s pest and termite control business are quality of service and guarantees, including service quality, and product availability, terms of guarantees, reputation for safety, technical proficiency and price.
Research and Development Expenditures by the Company on research activities relating to the development of new products or services are not significant.
Some of the new and improved service methods and products are researched, developed and produced by unaffiliated universities and companies.
Also, a portion of these methods and products are produced to the specifications provided by the Company.
The Company maintains a close relationship with several universities for research and validation of treatment procedures and material selection.
The Company conducts tests of new products with the specific manufacturers of such products.
The Company also works closely with leading scientists, educators, industry consultants and suppliers to improve service protocols and materials.
Environmental and Regulatory Considerations The Company’s pest control business is subject to various legislative and regulatory enactments that are designed to protect the environment, public health and consumers.
Compliance with these requirements has not had a material negative impact on the Company’s financial position, results of operations or liquidity.
Federal Insecticide Fungicide and Rodentcide Act (‘‘FIFRA’’) This federal law (as amended) grants to the states the responsibility to be the primary agent in enforcement and conditions under which pest control companies operate.
Each state must meet certain guidelines of the Environmental Protection Agency in regulating the following: licensing, record keeping, contracts, standards of application, training and registration of products.
This allows each state to institute

Tables referenced above, in order (Table 0 first):
<table><tr><td>(Dollars in millions)</td><td>2012</td><td>2011</td><td>2010</td><td>2009</td><td>2008</td></tr><tr><td>Allowance for loan and lease losses, January 1<sup>-1</sup></td><td>$33,783</td><td>$41,885</td><td>$47,988</td><td>$23,071</td><td>$11,588</td></tr><tr><td>Loans and leases charged off</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Residential mortgage</td><td>-3,211</td><td>-4,195</td><td>-3,779</td><td>-4,436</td><td>-964</td></tr><tr><td>Home equity</td><td>-4,566</td><td>-4,990</td><td>-7,059</td><td>-7,205</td><td>-3,597</td></tr><tr><td>Discontinued real estate</td><td>-72</td><td>-106</td><td>-77</td><td>-104</td><td>-19</td></tr><tr><td>U.S. credit card</td><td>-5,360</td><td>-8,114</td><td>-13,818</td><td>-6,753</td><td>-4,469</td></tr><tr><td>Non-U.S. credit card</td><td>-835</td><td>-1,691</td><td>-2,424</td><td>-1,332</td><td>-639</td></tr><tr><td>Direct/Indirect consumer</td><td>-1,258</td><td>-2,190</td><td>-4,303</td><td>-6,406</td><td>-3,777</td></tr><tr><td>Other consumer</td><td>-274</td><td>-252</td><td>-320</td><td>-491</td><td>-461</td></tr><tr><td>Total consumer charge-offs</td><td>-15,576</td><td>-21,538</td><td>-31,780</td><td>-26,727</td><td>-13,926</td></tr><tr><td>U.S. commercial<sup>-2</sup></td><td>-1,309</td><td>-1,690</td><td>-3,190</td><td>-5,237</td><td>-2,567</td></tr><tr><td>Commercial real estate</td><td>-719</td><td>-1,298</td><td>-2,185</td><td>-2,744</td><td>-895</td></tr><tr><td>Commercial lease financing</td><td>-32</td><td>-61</td><td>-96</td><td>-217</td><td>-79</td></tr><tr><td>Non-U.S. commercial</td><td>-36</td><td>-155</td><td>-139</td><td>-558</td><td>-199</td></tr><tr><td>Total commercial charge-offs</td><td>-2,096</td><td>-3,204</td><td>-5,610</td><td>-8,756</td><td>-3,740</td></tr><tr><td>Total loans and leases charged off</td><td>-17,672</td><td>-24,742</td><td>-37,390</td><td>-35,483</td><td>-17,666</td></tr><tr><td>Recoveries of loans and leases previously charged off</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Residential mortgage</td><td>158</td><td>363</td><td>109</td><td>86</td><td>39</td></tr><tr><td>Home equity</td><td>329</td><td>517</td><td>278</td><td>155</td><td>101</td></tr><tr><td>Discontinued real estate</td><td>9</td><td>14</td><td>9</td><td>3</td><td>3</td></tr><tr><td>U.S. credit card</td><td>728</td><td>838</td><td>791</td><td>206</td><td>308</td></tr><tr><td>Non-U.S. credit card</td><td>254</td><td>522</td><td>217</td><td>93</td><td>88</td></tr><tr><td>Direct/Indirect consumer</td><td>495</td><td>714</td><td>967</td><td>943</td><td>663</td></tr><tr><td>Other consumer</td><td>42</td><td>50</td><td>59</td><td>63</td><td>62</td></tr><tr><td>Total consumer recoveries</td><td>2,015</td><td>3,018</td><td>2,430</td><td>1,549</td><td>1,264</td></tr><tr><td>U.S. commercial<sup>-3</sup></td><td>368</td><td>500</td><td>391</td><td>161</td><td>118</td></tr><tr><td>Commercial real estate</td><td>335</td><td>351</td><td>168</td><td>42</td><td>8</td></tr><tr><td>Commercial lease financing</td><td>38</td><td>37</td><td>39</td><td>22</td><td>19</td></tr><tr><td>Non-U.S. commercial</td><td>8</td><td>3</td><td>28</td><td>21</td><td>26</td></tr><tr><td>Total commercial recoveries</td><td>749</td><td>891</td><td>626</td><td>246</td><td>171</td></tr><tr><td>Total recoveries of loans and leases previously charged off</td><td>2,764</td><td>3,909</td><td>3,056</td><td>1,795</td><td>1,435</td></tr><tr><td>Net charge-offs</td><td>-14,908</td><td>-20,833</td><td>-34,334</td><td>-33,688</td><td>-16,231</td></tr><tr><td>Provision for loan and lease losses</td><td>8,310</td><td>13,629</td><td>28,195</td><td>48,366</td><td>26,922</td></tr><tr><td>Write-offs of home equity PCI loans</td><td>-2,820</td><td>—</td><td>—</td><td>—</td><td>—</td></tr><tr><td>Other<sup>-4</sup></td><td>-186</td><td>-898</td><td>36</td><td>-549</td><td>792</td></tr><tr><td>Allowance for loan and lease losses, December 31</td><td>24,179</td><td>33,783</td><td>41,885</td><td>37,200</td><td>23,071</td></tr><tr><td>Reserve for unfunded lending commitments, January 1</td><td>714</td><td>1,188</td><td>1,487</td><td>421</td><td>518</td></tr><tr><td>Provision for unfunded lending commitments</td><td>-141</td><td>-219</td><td>240</td><td>204</td><td>-97</td></tr><tr><td>Other<sup>-5</sup></td><td>-60</td><td>-255</td><td>-539</td><td>862</td><td>—</td></tr><tr><td>Reserve for unfunded lending commitments, December 31</td><td>513</td><td>714</td><td>1,188</td><td>1,487</td><td>421</td></tr><tr><td>Allowance for credit losses, December 31</td><td>$24,692</td><td>$34,497</td><td>$43,073</td><td>$38,687</td><td>$23,492</td></tr></table>
<table><tr><td><i>In millions</i></td><td>BenefitPayments</td><td>Subsidy Receipts</td></tr><tr><td>2006</td><td>$87</td><td>$-13</td></tr><tr><td>2007</td><td>86</td><td>-14</td></tr><tr><td>2008</td><td>83</td><td>-15</td></tr><tr><td>2009</td><td>81</td><td>-16</td></tr><tr><td>2010</td><td>79</td><td>-17</td></tr><tr><td>2011 – 2015</td><td>352</td><td>-90</td></tr></table>
<table><tr><td></td><td colspan="3"> Gold Ounces Sold</td><td colspan="3"> Costs Applicable to Sales<sup>-1</sup></td><td colspan="3"> Depreciation, Depletion and Amortization</td></tr><tr><td></td><td> 2007</td><td> 2006</td><td> 2005</td><td> 2007</td><td> 2006</td><td> 2005</td><td> 2007</td><td> 2006</td><td> 2005</td></tr><tr><td></td><td colspan="3"> (in thousands)</td><td colspan="3"> ($ per ounce)</td><td colspan="3"> ($ per ounce)</td></tr><tr><td>Year ended December 31,</td><td>446</td><td>202</td><td>—</td><td>$396</td><td>$297</td><td>$—</td><td>$96</td><td>$94</td><td>$—</td></tr></table>
<table><tr><td></td><td colspan="3">(in thousands)</td></tr><tr><td>December 31,</td><td>2013</td><td>2012</td><td>2011</td></tr><tr><td>Backlog</td><td>$3,286</td><td>$2,876</td><td>$2,781</td></tr></table>
<table><tr><td></td><td colspan="3">At December 31,</td></tr><tr><td>Franchises</td><td>2013</td><td>2012</td><td>2011</td></tr><tr><td>United States Franchises</td><td>54</td><td>57</td><td>58</td></tr><tr><td>International Franchises</td><td>26</td><td>22</td><td>18</td></tr><tr><td>Total Franchises</td><td>80</td><td>79</td><td>76</td></tr></table>
<table><tr><td></td><td colspan="3">Total Net Revenues</td></tr><tr><td>(in thousands)</td><td>2013</td><td>2012</td><td>2011</td></tr><tr><td>First Quarter</td><td>$299,714</td><td>$289,465</td><td>$271,643</td></tr><tr><td>Second Quarter</td><td>350,798</td><td>334,872</td><td>320,436</td></tr><tr><td>Third Quarter</td><td>362,155</td><td>340,179</td><td>323,929</td></tr><tr><td>Fourth Quarter</td><td>324,707</td><td>306,393</td><td>289,056</td></tr><tr><td>Year ended December 31,</td><td>$1,337,374</td><td>$1,270,909</td><td>$1,205,064</td></tr></table>

Question: What's the current growth rate of commercial lease financing in terms of recoveries of loans and leases previously charged off?
Answer: 0.02703
Reasoning program: subtract(38,37), divide(#0,37)