MARATHON OIL CORPORATION Notes to Consolidated Financial Statements Preferred shares – In connection with the acquisition of Western discussed in Note 6, the Board of Directors authorized a class of voting preferred stock consisting of 6 million shares.
Upon completion of the acquisition, we issued 5 million shares of this voting preferred stock to a trustee, who holds the shares for the benefit of the holders of the Exchangeable Shares discussed above.
Each share of voting preferred stock is entitled to one vote on all matters submitted to the holders of Marathon common stock.
Each holder of Exchangeable Shares may direct the trustee to vote the number of shares of voting preferred stock equal to the number of shares of Marathon common stock issuable upon the exchange of the Exchangeable Shares held by that holder.
In no event will the aggregate number of votes entitled to be cast by the trustee with respect to the outstanding shares of voting preferred stock exceed the number of votes entitled to be cast with respect to the outstanding Exchangeable Shares.
Except as otherwise provided in our restated certificate of incorporation or by applicable law, the common stock and the voting preferred stock will vote together as a single class in the election of directors of Marathon and on all other matters submitted to a vote of stockholders of Marathon generally.
The voting preferred stock will have no other voting rights except as required by law.
Other than dividends payable solely in shares of voting preferred stock, no dividend or other distribution, will be paid or payable to the holder of the voting preferred stock.
In the event of any liquidation, dissolution or winding up of Marathon, the holder of shares of the voting preferred stock will not be entitled to receive any assets of Marathon available for distribution to its stockholders.
The voting preferred stock is not convertible into any other class or series of the capital stock of Marathon or into cash, property or other rights, and may not be redeemed.26.
Leases We lease a wide variety of facilities and equipment under operating leases, including land and building space, office equipment, production facilities and transportation equipment.
Most long-term leases include renewal options and, in certain leases, purchase options.
Future minimum commitments for capital lease obligations (including sale-leasebacks accounted for as financings) and for operating lease obligations having initial or remaining noncancelable lease terms in excess of one year are as follows:
## Table 0 ##
(a) Capital lease obligations includes $335 million related to assets under construction as of December 31, 2008.
These leases are currently reported in long-term debt based on percentage of construction completed at $126 million.
In connection with past sales of various plants and operations, we assigned and the purchasers assumed certain leases of major equipment used in the divested plants and operations of United States Steel.
In the event of a default by any of the purchasers, United States Steel has assumed these obligations; however, we remain primarily obligated for payments under these leases.
Minimum lease payments under these operating lease obligations of $21 million have been included above and an equal amount has been reported as sublease rentals.
Of the $459 million present value of net minimum capital lease payments, $69 million was related to obligations assumed by United States Steel under the Financial Matters Agreement.
The following table shows the distribution of those RJBank loans that mature in more than one year between fixed and adjustable interest rate loans at September 30, 2007:
## Table 1 ##
One of the core objectives of RJBank's Asset/Liability Management Committee is to manage the sensitivity of net interest income to changes in market interest rates.
The Asset/Liability Management Committee uses several measures to monitor and limit RJBank's interest rate risk including scenario analysis, interest repricing gap analysis and limits, and net portfolio value limits.
Simulation models and estimation techniques are used to assess the sensitivity of the net interest income stream to movements in interest rates.
Assumptions about consumer behavior play an important role in these calculations; this is particularly relevant for loans such as mortgages where the client has the right, but not the obligation, to repay before the scheduled maturity.
The sensitivity of net interest income to interest rate conditions is estimated for a variety of scenarios.
Assuming an immediate and lasting shift of 100 basis points in the term structure of interest rates, RJBank's sensitivity analysis indicates that an upward movement would decrease RJBank's net interest income by 10.25% in the first year after the rate increase, whereas a downward shift of the same magnitude would increase RJBank's net interest income by 6.91%.
These sensitivity figures are based on positions as of September 30, 2007, and are subject to certain simplifying assumptions, including that management takes no corrective action.
Equity Price Risk The Company is exposed to equity price risk as a consequence of making markets in equity securities and the investment activities of RJA and RJ Ltd.
The U. S.  broker-dealer activities are primarily client-driven, with the objective of meeting clients' needs while earning a trading profit to compensate for the risk associated with carrying inventory.
The Company attempts to reduce the risk of loss inherent in its inventory of equity securities by monitoring those security positions constantly throughout each day and establishing position limits.
The Company's Canadian broker-dealer has a proprietary trading business with 26 traders.
The average aggregate inventory held for proprietary trading during the year ended September 30, 2007 was CDN$12,257,443.
The Company's equity securities inventories are priced on a regular basis and there are no material unrecorded gains or losses.
Credit Risk The Company is engaged in various trading and brokerage activities whose counterparties primarily include broker-dealers, banks and other financial institutions.
The Company is exposed to risk that these counterparties may not fulfill their obligations.
The risk of default depends on the creditworthiness of the counterparty and/or the issuer of the instrument.
The Company manages this risk by imposing and monitoring individual and aggregate position limits within each business segment for each counterparty, conducting regular credit reviews of financial counterparties, reviewing security and loan concentrations, holding and marking to market collateral on certain transactions and conducting business through clearing organizations, which guarantee performance.
The Company's client activities involve the execution, settlement, and financing of various transactions on behalf of its clients.
Client activities are transacted on either a cash or margin basis.
Credit exposure associated with the Company's Private Client Group results primarily from customer margin accounts, which are monitored daily and are collateralized.
When clients execute a purchase the Company is at some risk that the client will renege on the trade.
If this occurs, the Company may have to liquidate the position at a loss.
However, most private clients have available funds in the account before the trade is executed.
The Company monitors exposure to industry sectors and individual securities and performs analysis on a regular basis in connection with its margin lending activities.
The Company adjusts its margin requirements if it believes its risk exposure is not appropriate based on market conditions.
In addition, RJBank offers a variety of loan products including residential mortgage, commercial real estate, and consumer loans, which are collateralized, and corporate loans for which the borrower is carefully evaluated and monitored.
RJBank's policy is to require customers to provide such collateral prior to the disbursement of approved loans.
The amount of collateral obtained, if it is deemed necessary by RJBank upon extension of credit, is based on management's credit evaluation of the counterparty.
Collateral held varies but may include accounts receivable, inventory, residential real estate, and income-producing commercial properties.
When using derivative financial instruments to hedge exposures to changes in interest rates, RJBank exposes itself to credit risk with those counterparties also.
RJBank minimizes the credit or repayment risk of derivative instruments by entering into transactions only with high-quality counterparties whose credit rating is investment grade.
The Company is subject to concentration risk if it holds large positions, extends large loans to, or has large commitments with a single counterparty, borrower, or group of similar counterparties or borrowers (e. g.  in the same industry).
Securities purchased under agreements to resell consist entirely of securities issued by the U. S.  government or its agencies.
Receivables from and payables to clients and stock borrow and lending activities are conducted with a large number of clients and counterparties and potential concentration is carefully monitored.
Inventory and investment positions taken and commitments made, including underwritings, may involve exposure to individual issuers and businesses.
The Company seeks to limit this risk through careful review of the underlying business
The following table presents assets under management and a portion of our non-managed fee-based assets at the dates indicated:
## Table 2 ##
The majority of the revenue for this segment is generated by the investment advisory fees related to asset management services for investment portfolios and mutual funds.
As of September 30, 2010, approximately 85% of investment advisory fees are earned from assets held in managed programs.
Approximately 70% of our investment advisory fees recorded in a quarter are determined based on balances at the beginning of a quarter, approximately 15% are based on balances at the end of the quarter and approximately 15% are computed based on average assets.
Year ended September 30, 2010 Compared with the Year ended September 30, 2009 - Asset Management Asset Management pre-tax results increased $16.6 million, or 54%, and total revenues increased $19.5 million, or 11%, as compared to the prior year.
The increase in revenues resulted from a combination of favorable factors including increased market values, additional client investments and $3 million in performance fees.
Net assets under management increased by $1.1 billion, or 4%, the net impact of market appreciation and asset flows during the year.
We experienced net asset inflows of $2.4 billion into managed accounts from both new clients and clients re-entering the market after the downturn.
Nonmanaged fee-based assets increased $6.8 billion, or 24%, as compared to the prior year primarily due to positive net inflows of approximately $5.4 billion.
These revenue increases were partially offset by an $8 million decrease in money market fund fees in the current year ($14 million less in money market management fees net of a $6 million reduction in money market fee waivers).
The money market funds were impacted by lower balances and lower interest rates and the resulting spread compression.
There were $3 billion in net money market account outflows due to the implementation of the multi-bank sweep aspect of the RJBDP in September, 2009 and the subsequent transfer of the internally managed money market funds to a third-party advisor in August, 2010.
Eagle class shares of both a taxable and a tax-exempt money market fund are available to clients of Eagle and its affiliates through the third-party advisor.
Increases in compensation costs and investment advisory fee expense were directly correlated to the increase in investment advisory fee revenues.
Other expense decreased $8.1 million, or 24%, primarily due to the reduction in costs associated with the money market funds.
As money market fund balances decreased, distribution fees paid to the PCG segment declined and there was a reduction in the money market management fee shared with the PCG segment due to the money market fee waivers.

Tables referenced above, in order (Table 0 first):
<table><tr><td><i>(In millions)</i></td><td>Capital Lease Obligations (a)</td><td>Operating Lease Obligations</td></tr><tr><td>2009</td><td>$40</td><td>$181</td></tr><tr><td>2010</td><td>45</td><td>133</td></tr><tr><td>2011</td><td>47</td><td>110</td></tr><tr><td>2012</td><td>60</td><td>100</td></tr><tr><td>2013</td><td>39</td><td>85</td></tr><tr><td>Later years</td><td>426</td><td>379</td></tr><tr><td>Sublease rentals</td><td>–</td><td>-21</td></tr><tr><td>Total minimum lease payments</td><td>$657</td><td>$967</td></tr><tr><td>Less imputed interest costs</td><td>-198</td><td></td></tr><tr><td>Present value of net minimum lease payments</td><td>$459</td><td></td></tr></table>
<table><tr><td></td><td colspan="3">Interest Rate Type</td></tr><tr><td></td><td>Fixed</td><td>Adjustable</td><td>Total</td></tr><tr><td></td><td colspan="3">(in 000’s)</td></tr><tr><td>Commercial Loans</td><td>$ 2,188</td><td>$ 340,538</td><td>$ 342,726</td></tr><tr><td>Real Estate Construction Loans</td><td>-</td><td>102,037</td><td>102,037</td></tr><tr><td>Commercial Real Estate Loans</td><td>7,141</td><td>2,184,092</td><td>2,191,233</td></tr><tr><td>Residential Mortgage Loans</td><td>23,134</td><td>1,911,411</td><td>1,934,545</td></tr><tr><td>Consumer Loans</td><td>-</td><td>3,017</td><td>3,017</td></tr><tr><td>Total Loans</td><td>$ 32,463</td><td>$ 4,541,095</td><td>$ 4,573,558</td></tr></table>
<table><tr><td></td><td colspan="5">September 30,</td></tr><tr><td></td><td>2010</td><td>% Change</td><td>2009</td><td>% Change</td><td>2008</td></tr><tr><td></td><td colspan="5">($ in 000's)</td></tr><tr><td>Assets Under Management:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Eagle Asset Management, Inc.</td><td>$15,566,954</td><td>15%</td><td>$13,582,832</td><td>-4%</td><td>$14,186,426</td></tr><tr><td>Eagle Money Market Funds</td><td>-</td><td>-100%</td><td>2,966,819</td><td>-51%</td><td>6,108,327</td></tr><tr><td>Raymond James Consulting Services (“RJCS”)</td><td>8,458,178</td><td>8%</td><td>7,833,081</td><td>-2%</td><td>7,989,510</td></tr><tr><td>Unified Managed Accounts</td><td>734,750</td><td>197%</td><td>247,721</td><td>100%</td><td>-</td></tr><tr><td>Freedom Accounts & Other Managed Programs</td><td>8,791,332</td><td>21%</td><td>7,256,673</td><td>-7%</td><td>7,766,225</td></tr><tr><td>Total Assets Under Management</td><td>33,551,214</td><td>5%</td><td>31,887,126</td><td>-12%</td><td>36,050,488</td></tr><tr><td>Less: Assets Managed for Affiliated Entities</td><td>-3,544,197</td><td>18%</td><td>-3,008,675</td><td>17%</td><td>-2,578,263</td></tr><tr><td>Net Assets Under Management</td><td>$30,007,017</td><td>4%</td><td>$28,878,451</td><td>-14%</td><td>$33,472,225</td></tr><tr><td>Non-Managed Fee-based Assets:</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Passport</td><td>$22,707,602</td><td>17%</td><td>$19,451,710</td><td>10%</td><td>$17,681,201</td></tr><tr><td>Ambassador</td><td>10,479,432</td><td>43%</td><td>7,327,402</td><td>88%</td><td>3,907,480</td></tr><tr><td>Other Non-Managed Fee-based Assets</td><td>2,022,785</td><td>21%</td><td>1,671,029</td><td>31%</td><td>1,278,997</td></tr><tr><td>Total</td><td>$35,209,819</td><td>24%</td><td>$28,450,141</td><td>24%</td><td>$22,867,678</td></tr></table>

Question: What's the average of Assets Under Managemen in 2009? (in thousand)
Answer: 4.12549e+06
Reasoning program: divide(28878451,const_7)