Assumed health care cost trend rates were as follows:
## Table 0 ##
Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans.
To determine the health care cost trend rates we look at a combination of information including ongoing claims cost monitoring, annual statistical analyses of claims data, reconciliation of forecast claims against actual claims, review of trend assumptions of other plan sponsors and national health trends, and adjustments for plan design changes, workforce changes, and changes in plan participant behavior.
A one-percentage-point change in assumed health care cost trend rates would have the following effect:
## Table 1 ##
Plan Assets Investment Strategy The overall objective of our pension assets is to earn a rate of return over time to satisfy the benefit obligations of the pension plans and to maintain sufficient liquidity to pay benefits and address other cash requirements of the pension fund.
Specific investment objectives for our long-term investment strategy include reducing the volatility of pension assets relative to pension liabilities, achieving a competitive total investment return, achieving diversification between and within asset classes and managing other risks.
Investment objectives for each asset class are determined based on specific risks and investment opportunities identified.
We periodically update our long-term, strategic asset allocations.
We use various analytics to determine the optimal asset mix and consider plan liability characteristics, liquidity characteristics, funding requirements, expected rates of return and the distribution of returns.
We identify investment benchmarks to evaluate performance for the asset classes in the strategic asset allocation that are market-based and investable where possible.
Actual allocations to each asset class vary from target allocations due to periodic investment strategy changes, market value fluctuations, the length of time it takes to fully implement investment allocation positions, and the timing of benefit payments and contributions.
Short-term investments and exchange-traded derivatives are used to rebalance the actual asset allocation to the target asset allocation.
The asset allocation is monitored and rebalanced on a monthly basis.
The actual and target allocations by asset class for the pension assets at December 31 were as follows:
## Table 2 ##
Notes to Consolidated Financial Statements Note 20.
Regulation and Capital Adequacy The Federal Reserve Board is the primary regulator of Group Inc. , a bank holding company under the Bank Holding Company Act of 1956 (BHC Act) and a financial holding company under amendments to the BHC Act effected by the U. S.  Gramm-Leach-Bliley Act of 1999.
As a bank holding company, the firm is subject to consolidated regulatory capital requirements that are computed in accordance with the Federal Reserve Board’s risk-based capital requirements (which are based on the ‘Basel 1’ Capital Accord of the Basel Committee).
These capital requirements are expressed as capital ratios that compare measures of capital to risk-weighted assets (RWAs).
The firm’s U. S.  bank depository institution subsidiaries, including GS Bank USA, are subject to similar capital requirements.
Under the Federal Reserve Board’s capital adequacy requirements and the regulatory framework for prompt corrective action that is applicable to GS Bank USA, the firm and its U. S.  bank depository institution subsidiaries must meet specific capital requirements that involve quantitative measures of assets, liabilities and certain offbalance-sheet items as calculated under regulatory reporting practices.
The firm and its U. S.  bank depository institution subsidiaries’ capital amounts, as well as GS Bank USA’s prompt corrective action classification, are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.
Many of the firm’s subsidiaries, including GS&Co.
and the firm’s other broker-dealer subsidiaries, are subject to separate regulation and capital requirements as described below.
Group Inc.  Federal Reserve Board regulations require bank holding companies to maintain a minimum Tier 1 capital ratio of 4% and a minimum total capital ratio of 8%.
The required minimum Tier 1 capital ratio and total capital ratio in order to be considered a “well-capitalized” bank holding company under the Federal Reserve Board guidelines are 6% and 10%, respectively.
Bank holding companies may be expected to maintain ratios well above the minimum levels, depending on their particular condition, risk profile and growth plans.
The minimum Tier 1 leverage ratio is 3% for bank holding companies that have received the highest supervisory rating under Federal Reserve Board guidelines or that have implemented the Federal Reserve Board’s risk-based capital measure for market risk.
Other bank holding companies must have a minimum Tier 1 leverage ratio of 4%.
The table below presents information regarding Group Inc. ’s regulatory capital ratios.
## Table 3 ##
RWAs under the Federal Reserve Board’s risk-based capital requirements are calculated based on the amount of market risk and credit risk.
RWAs for market risk are determined by reference to the firm’s Value-at-Risk (VaR) model, supplemented by other measures to capture risks not reflected in the firm’s VaR model.
Credit risk for onbalance sheet assets is based on the balance sheet value.
For off-balance sheet exposures, including OTC derivatives and commitments, a credit equivalent amount is calculated based on the notional amount of each trade.
All such assets and exposures are then assigned a risk weight depending on, among other things, whether the counterparty is a sovereign, bank or a qualifying securities firm or other entity (or if collateral is held, depending on the nature of the collateral).
Tier 1 leverage ratio is defined as Tier 1 capital under Basel 1 divided by average adjusted total assets (which includes adjustments for disallowed goodwill and intangible assets, and the carrying value of equity investments in non-financial companies that are subject to deductions from Tier 1 capital).
HEWLETT-PACKARD COMPANY AND SUBSIDIARIES Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued) unfavorable currency impacts and declines in average revenue per unit.
The decrease in operating expenses as a percentage of net revenue in fiscal 2009 was due primarily to effective cost controls.
IPG net revenue increased 3.5% (decreased 0.8% when adjusted for currency) in fiscal 2008 from fiscal 2007.
The growth in printer supplies net revenue in fiscal 2008 from fiscal 2007 reflected higher unit volumes of supplies as a result of the strong performance of color-related products.
The slight increase in commercial hardware net revenue in fiscal 2008 from fiscal 2007 was due mainly to unit volume growth in multifunction printers, color laser printers and large format printing products and revenue from recent acquisitions, partially offset by continued competitive pricing pressures.
The decrease in consumer hardware net revenue in fiscal 2008 from fiscal 2007 was due primarily to discontinued sales of cameras, competitive pricing pressures and lower unit volumes of consumer hardware as a result of slower growth in the overall consumer printer market.
Both consumer and commercial hardware were impacted by the continued shift in demand to lower-priced products and a slowing economy, which caused average revenue per unit in each category to decline.
IPG earnings from operations as a percentage of net revenue increased by 0.4 percentage points in fiscal 2008 from the prior fiscal year.
The operating margin improvement in fiscal 2008 was due to lower operating expenses as a percentage of net revenue.
In fiscal 2008, the gross margin remained flat driven by improved margins for supplies as a result of product mix, the effect of which was offset by unfavorable hardware margins.
The decrease in operating expenses as a percentage of net revenue in fiscal 2008 was due primarily to higher revenue and continued cost controls, the effect of which was partially offset by increased investments in our enterprise printing sales force.
HP Financial Services
## Table 4 ##
HPFS net revenue decreased by 0.9% in fiscal 2009 from fiscal 2008.
The net revenue decrease was due to unfavorable currency movements.
On a constant currency basis, fiscal 2009 net revenue increased due primarily to portfolio growth, increased operating lease mix and higher buyout activities, the effect of which was partially offset by lower levels of remarketing and end-of-lease activity.
HPFS earnings from operations as a percentage of net revenue increased by 0.6 percentage points in fiscal 2009 from fiscal 2008 due primarily to a decrease in operating expenses, the effect of which was partially offset by a decline in gross margin.
The operating expense decrease was due to continued cost controls.
The decline in gross margin was driven by an unfavorable currency impact, lower margins relating to end of lease activity, higher bad debt expenses, and lower remarketing and buyout margins, the effect of which was partially offset by higher portfolio margins.
HPFS net revenue increased by 15.5% in fiscal 2008 from fiscal 2007.
The net revenue increase was due primarily to a shift towards operating leases from financing leases in the overall portfolio asset mix, higher average portfolio assets during the year, higher end-of-lease activity and a favorable currency impact.
Principal Financial Group, Inc.  Notes to Consolidated Financial Statements — (continued) December 31, 2012 3.
Variable Interest Entities — (continued) The carrying amounts of our consolidated VIE assets, which can only be used to settle obligations of consolidated VIEs, and liabilities of consolidated VIEs for which creditors do not have recourse are as follows:
## Table 5 ##
(1) Grantor trusts contain an embedded derivative of a forecasted transaction to deliver the underlying securities; collateralized private investment vehicles include derivative liabilities and obligation to redeem notes at maturity or termination of the trust; CMBS includes obligation to the bondholders; and hedge funds include liabilities to securities brokers.
(2) The consolidated statements of financial position included a $343.6 million noncontrolling interest for hedge funds as of December 31, 2011.
We did not provide financial or other support to investees designated as VIEs for the years December 31, 2012 and 2011.
Unconsolidated Variable Interest Entities Invested Securities We hold a variable interest in a number of VIEs where we are not the primary beneficiary.
Our investments in these VIEs are reported in fixed maturities, available-for-sale; fixed maturities, trading and other investments in the consolidated statements of financial position and are described below.
VIEs include CMBS, residential mortgage-backed pass-through securities (‘‘RMBS’’) and other ABS.
All of these entities were deemed VIEs because the equity within these entities is insufficient to sustain them.
We determined we are not the primary beneficiary in any of the entities within these categories of investments.
This determination was based primarily on the fact we do not own the class of security that controls the unilateral right to replace the special servicer or equivalent function.
As previously discussed, we invest in several types of collateralized private investment vehicles, which are VIEs.
These include cash and synthetic structures that we do not manage.
We have determined we are not the primary beneficiary of these collateralized private investment vehicles primarily because we do not control the economic performance of the entities and were not involved with the design of the entities.
We have invested in various VIE trusts as a debt holder.
All of these entities are classified as VIEs due to insufficient equity to sustain them.
We have determined we are not the primary beneficiary primarily because we do not control the economic performance of the entities and were not involved with the design of the entities.

Tables referenced above, in order (Table 0 first):
<table><tr><td>December 31,</td><td>2017</td><td>2016</td><td>2015</td></tr><tr><td>Health care cost trend rate assumed next year</td><td>6.00%</td><td>6.50%</td><td>6.50%</td></tr><tr><td>Ultimate trend rate</td><td>4.50%</td><td>5.00%</td><td>5.00%</td></tr><tr><td>Year that trend reached ultimate rate</td><td>2021</td><td>2021</td><td>2021</td></tr></table>
<table><tr><td></td><td>Increase</td><td>Decrease</td></tr><tr><td>Effect on total of service and interest cost</td><td>$45</td><td>-$37</td></tr><tr><td>Effect on postretirement benefit obligation</td><td>529</td><td>-448</td></tr></table>
<table><tr><td></td><td colspan="2">Actual Allocations</td><td colspan="2">Target Allocations</td></tr><tr><td>Asset Class</td><td>2017</td><td>2016</td><td>2017</td><td>2016</td></tr><tr><td>Fixed income</td><td>46%</td><td>48%</td><td>47%</td><td>47%</td></tr><tr><td>Global equity</td><td>31</td><td>28</td><td>29</td><td>29</td></tr><tr><td>Private equity</td><td>5</td><td>5</td><td>5</td><td>5</td></tr><tr><td>Real estate and real assets</td><td>8</td><td>9</td><td>9</td><td>9</td></tr><tr><td>Hedge funds</td><td>10</td><td>10</td><td>10</td><td>10</td></tr><tr><td>Total</td><td>100%</td><td>100%</td><td>100%</td><td>100%</td></tr></table>
<table><tr><td></td><td>As of December</td></tr><tr><td><i>$ in millions</i></td><td>2012</td><td>2011</td></tr><tr><td>Tier 1 capital</td><td>$ 66,977</td><td>$ 63,262</td></tr><tr><td>Tier 2 capital</td><td>$ 13,429</td><td>$ 13,881</td></tr><tr><td>Total capital</td><td>$ 80,406</td><td>$ 77,143</td></tr><tr><td>Risk-weighted assets</td><td>$399,928</td><td>$457,027</td></tr><tr><td>Tier 1 capital ratio</td><td>16.7%</td><td>13.8%</td></tr><tr><td>Total capital ratio</td><td>20.1%</td><td>16.9%</td></tr><tr><td>Tier 1 leverage ratio</td><td>7.3%</td><td>7.0%</td></tr></table>
<table><tr><td> </td><td colspan="3"> For the fiscal years ended October 31</td></tr><tr><td> </td><td>2009</td><td>2008</td><td> 2007</td></tr><tr><td> </td><td colspan="3"> In millions </td></tr><tr><td>Net revenue</td><td>$2,673</td><td>$2,698</td><td>$2,336</td></tr><tr><td>Earnings from operations</td><td>$206</td><td>$192</td><td>$155</td></tr><tr><td>Earnings from operations as a % of net revenue</td><td>7.7%</td><td>7.1%</td><td>6.6%</td></tr></table>
<table><tr><td> </td><td> Grantor trusts</td><td> Collateralized private investment vehicles</td><td> CMBS</td><td> Hedge funds -2</td><td> Total</td></tr><tr><td> </td><td colspan="5"><i>(in millions)</i> </td></tr><tr><td> December 31, 2012</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Fixed maturities, available-for-sale</td><td>$194.6</td><td>$—</td><td>$—</td><td>$—</td><td>$194.6</td></tr><tr><td>Fixed maturities, trading</td><td>—</td><td>110.4</td><td>—</td><td>—</td><td>110.4</td></tr><tr><td>Other investments</td><td>—</td><td>—</td><td>80.3</td><td>—</td><td>80.3</td></tr><tr><td>Accrued investment income</td><td>0.5</td><td>—</td><td>0.6</td><td>—</td><td>1.1</td></tr><tr><td>Total assets</td><td>$195.1</td><td>$110.4</td><td>$80.9</td><td>$—</td><td>$386.4</td></tr><tr><td>Deferred income taxes</td><td>$1.8</td><td>$—</td><td>$—</td><td>$—</td><td>$1.8</td></tr><tr><td>Other liabilities -1</td><td>152.4</td><td>104.8</td><td>45.7</td><td>—</td><td>302.9</td></tr><tr><td>Total liabilities</td><td>$154.2</td><td>$104.8</td><td>$45.7</td><td>$—</td><td>$304.7</td></tr><tr><td> December 31, 2011</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Fixed maturities, available-for-sale</td><td>$199.2</td><td>$15.0</td><td>$—</td><td>$—</td><td>$214.2</td></tr><tr><td>Fixed maturities, trading</td><td>—</td><td>132.4</td><td>—</td><td>—</td><td>132.4</td></tr><tr><td>Equity securities, trading</td><td>—</td><td>—</td><td>—</td><td>207.6</td><td>207.6</td></tr><tr><td>Other investments</td><td>—</td><td>—</td><td>97.5</td><td>0.3</td><td>97.8</td></tr><tr><td>Cash and cash equivalents</td><td>—</td><td>—</td><td>—</td><td>317.7</td><td>317.7</td></tr><tr><td>Accrued investment income</td><td>1.2</td><td>0.1</td><td>0.6</td><td>—</td><td>1.9</td></tr><tr><td>Premiums due and other receivables</td><td>—</td><td>—</td><td>—</td><td>39.1</td><td>39.1</td></tr><tr><td>Total assets</td><td>$200.4</td><td>$147.5</td><td>$98.1</td><td>$564.7</td><td>$1,010.7</td></tr><tr><td>Deferred income taxes</td><td>$2.2</td><td>$—</td><td>$—</td><td>$—</td><td>$2.2</td></tr><tr><td>Other liabilities -1</td><td>136.9</td><td>143.8</td><td>64.5</td><td>220.0</td><td>565.2</td></tr><tr><td>Total liabilities</td><td>$139.1</td><td>$143.8</td><td>$64.5</td><td>$220.0</td><td>$567.4</td></tr></table>

Question: Which elementhas the second largest number in 2012 for total?
Answer: Total assets