year was mainly due to a $7.1 billion increase in fixed income markets, reflecting strong trading opportunities across all asset classes in the first half of 2009, and a $1.5 billion increase in investment banking revenue primarily from increases in debt and equity underwriting activities reflecting higher transaction volumes from depressed 2008 levels.
These increases were offset by a $6.4 billion decrease in lending revenue primarily from losses on credit default swap hedges.
Excluding the 2009 and 2008 CVA impact, as indicated in the table below, revenues increased 23% or $5.5 billion.
Operating expenses decreased 17%, or $2.7 billion.
Excluding the 2008 repositioning and restructuring charges and the 2009 litigation reserve release, operating expenses declined 11% or $1.6 billion, mainly as a result of headcount reductions and benefits from expense management.
Provisions for loan losses and for benefits and claims decreased 7% or $129 million, to $1.7 billion, mainly due to lower credit reserve builds and net credit losses, due to an improved credit environment, particularly in the latter part of the year.2008 vs.  2007 Revenues, net of interest expense decreased 2% or $0.4 billion reflecting the overall difficult market conditions.
Excluding the 2008 and 2007 CVA impact, revenues decreased 3% or $0.6 billion.
The reduction in revenue was primarily due to a decrease in investment banking revenue of $2.3 billion to $3.2 billion, mainly in debt and equity underwriting, reflecting lower volumes, and a decrease in equity markets revenue of $2.3 billion to $2.9 billion due to extremely high volatility and reduced levels of activity.
These reductions were offset by an increase in fixed income markets of $2.9 billion to $14.4 billion due to strong performance in interest rates and currencies, and an increase in lending revenue of $2.4 billion to $4.2 billion mainly from gains on credit default swap hedges.
Operating expenses decreased by 2% or $0.4 billion.
Excluding the 2008 and 2007 repositioning and restructuring charges and the 2007 litigation reserve reversal, operating expenses decreased by 7% or $1.1 billion driven by headcount reduction and lower performance-based incentives.
Provisions for credit losses and for benefits and claims increased $1.3 billion to $1.8 billion mainly from higher credit reserve builds and net credit losses offset by a lower provision for unfunded lending commitments due to deterioration in the credit environment.
Certain Revenues Impacting Securities and Banking Items that impacted S&B revenues during 2009 and 2008 are set forth in the table below.
## Table 0 ##
(1) Net of hedges.
(2) For these purposes, Alt-A mortgage securities are non-agency residential mortgage-backed securities (RMBS) where (i) the underlying collateral has weighted average FICO scores between 680 and 720 or (ii) for instances where FICO scores are greater than 720, RMBS have 30% or less of the underlying collateral composed of full documentation loans.
See “Managing Global Risk—Credit Risk—U.
S.  Consumer Mortgage Lending.
” (3) S&B’s commercial real estate exposure is split into three categories of assets: held at fair value; heldto-maturity/held-for-investment; and equity.
See “Managing Global Risk—Credit Risk—Exposure to Commercial Real Estate” section for a further discussion.
In the table above, 2009 includes a $330 million pretax adjustment to the CVA balance, which reduced pretax revenues for the year, reflecting a correction of an error related to prior periods.
See “Significant Accounting Policies and Significant Estimates” below and Notes 1 and 34 to the Consolidated Financial Statements for a further discussion of this adjustment.2010 Outlook The 2010 outlook for S&B will depend on the level of client activity and on macroeconomic conditions, market valuations and volatility, interest rates and other market factors.
Management of S&B currently expects to maintain client activity throughout 2010 and to operate in market conditions that offer moderate volatility and increased liquidity.
Operating expenses will benefit from continued re-engineering and expense management initiatives, but will be offset by investments in talent and infrastructure to support growth.
33.
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
## Table 1 ##
This Note to the Consolidated Financial Statements is unaudited due to the Company鈥檚 individual quarterly results not being subject to an audit The revenue and (after-tax impact) of the Company鈥檚 correction of a CVA error in prior periods, which reduced revenues and net income in the fourth quarter of 2009 by $840 million ($518 million), respectively, related to the quarters in 2009 as follows: $198 million ($122 million), $115 million ($71 million) and $197 million ($121 million) for the first, second and third quarters of 2009, respectively.
See also Note 1 to the Consolidated Financial Statements.
The impact of this CVA error was determined not to be material to the Company鈥檚 results of operations and financial position for any previously reported period.
Consequently, in the accompanying selected quarterly financial data, the cumulative effect through September 30, 2009 is recorded in the fourth quarter of 2009.
Due to averaging of shares, quarterly earnings per share may not add up to the totals reported for the full year.
Diluted shares are equal to basic shares for the first, third and fourth quarter of 2009 due to the net loss available to common shareholders.
Adding additional shares to the denominator would result in anti-dilution.
[End of Consolidated Financial Statements and Notes to Consolidated Financial Statements]
Asset retirement obligations increased $87 million from year-end 2003 primarily due to revisions of previous estimates caused by the impact of a weakening U. S.  dollar on foreign asset retirement obligations, as well as drilling activity during 2004.
Cash Flows Net cash provided from operating activities (for continuing operations) totaled $3.730 billion in 2004, compared with $2.665 billion in 2003 and $2.331 billion in 2002.
The increases mainly resulted from the effects of higher worldwide natural gas and liquid hydrocarbons prices and a higher refining and wholesale marketing margin.
Net cash provided from operating activities (for discontinued operations) totaled $83 million in 2003, compared with $69 million in 2002 related to our E&P operations in western Canada sold in 2003.
Capital expenditures for each of the last three years are summarized in the following table:
## Table 2 ##
(a) Amounts exclude the acquisitions of KMOC in 2003 and the Equatorial Guinea interests in 2002.
Capital expenditures in 2004 totaled $2.237 billion compared with $1.892 billion and $1.520 billion in 2003 and 2002, excluding the acquisitions of KMOC in 2003 and Equatorial Guinea interests in 2002.
The $345 million increase in 2004 mainly resulted from increased spending in the IG segment associated with the LNG project in Equatorial Guinea.
The $372 million increase in 2003 mainly resulted from increased spending in the RM&T segment at the Catlettsburg refinery and on the Cardinal Products Pipeline and in the E&P segment in West Africa and Norway.
The increase in IG in 2003 was due to the purchase of a 30 percent interest in two LNG tankers which we previously leased and project development costs associated with the LNG project in Equatorial Guinea.
The decrease in corporate capital expenditures in 2003 was primarily due to the implementation of SAP financial and operations software in prior years.
Acquisitions included cash payments of $252 million in 2003 for the acquisition of KMOC and $1.160 billion in 2002 for the acquisition of the interests in Equatorial Guinea.
For further discussion of acquisitions, see Note 5 to the Consolidated Financial Statements.
Cash from disposal of assets was $76 million in 2004, compared with $1.256 billion including the disposal of discontinued operations, in 2003 and $146 million in 2002.
In 2004, proceeds were primarily from the sale of certain SSA stores and various domestic producing properties.
In 2003, proceeds were primarily from the disposition of our E&P properties in western Canada, the Yates field and gathering system, our interest in CLAM, various SSA stores, our interest in several pipeline companies and certain fields in the Big Horn Basin of Wyoming.
In 2002, proceeds were primarily from the disposition of various SSA stores and the sale of our San Juan Basin assets.
Net cash provided from financing activities totaled $527 million in 2004, compared with net cash used of $888 million in 2003 and net cash provided of $88 million in 2002.
The increase in 2004 was due to $1.004 billion in net proceeds from the March 31, 2004, issuance of 34,500,000 shares of common stock as well as the suspension of distributions to the minority shareholder of MAP.
This was partially offset by an increase in dividends paid to stockholders.
The decrease in 2003 was due to activity in 2002 primarily associated with financing the acquisitions of Equatorial Guinea interests of $1.160 billion.
This was partially offset by the $295 million repayment of preferred securities in 2002 that became redeemable or were converted to a right to receive cash upon the Separation.
In early January 2002, we paid $185 million to retire the 6.75% Convertible Quarterly Income Preferred Securities and $110 million to retire the 6.50% Cumulative Convertible Preferred Stock.
Management’s discussion and analysis 120 JPMorgan Chase & Co. /2010 Annual Report WHOLESALE CREDIT PORTFOLIO As of December 31, 2010, wholesale exposure (IB, CB, TSS and AM) increased by $36.9 billion from December 31, 2009.
The overall increase was primarily driven by increases of $23.5 billion in loans and $16.8 billion of receivables from customers, partially offset by decreases in interests in purchase receivables and lending-related commitments of $2.5 billion and $1.1 billion, respectively.
The decrease in lending-related commitments and the increase in loans were primarily related to the January 1, 2010, adoption of the accounting guidance related to VIEs, which resulted in the elimination of a net $17.7 billion of lending-related commitments between the Firm and its administrated multi-seller conduits upon consolidation.
Assets of the consolidated conduits included $15.1 billion of wholesale loans at January 1, 2010.
Excluding the effect of the accounting guidance, lending-related commitments and loans would have increased by $16.6 billion and $8.4 billion, respectively, mainly related to increased client activity.
The increase in loans also included the purchase of a $3.5 billion loan portfolio in CB during the third quarter of 2010.
The increase of $16.8 billion in receivables from customers was due to increased client activity, predominantly in Prime Services.
## Table 3 ##
(a) Represents primarily margin loans to prime and retail brokerage customers, which are included in accrued interest and accounts receivable on the Consolidated Balance Sheets.
(b) Represents an ownership interest in cash flows of a pool of receivables transferred by a third-party seller into a bankruptcy-remote entity, generally a trust.
(c) The amounts in nonperforming represent unfunded commitments that are risk rated as nonaccrual.
(d) Represents the net notional amount of protection purchased and sold of single-name and portfolio credit derivatives used to manage both performing and nonperforming credit exposures; these derivatives do not qualify for hedge accounting under U. S.  GAAP.
For additional information, see Credit derivatives on pages 126–128, and Note 6 on pages 191–199 of this Annual Report.
(e) Represents other liquid securities collateral and other cash collateral held by the Firm.
(f) Excludes assets acquired in loan satisfactions.
The following table presents summaries of the maturity and ratings profiles of the wholesale portfolio as of December 31, 2010 and 2009.
The ratings scale is based on the Firm’s internal risk ratings, which generally correspond to the ratings as defined by S&P and Moody’s.
Also included in this table is the notional value of net credit derivative hedges; the counterparties to these hedges are predominantly investment grade banks and finance companies.
Management’s discussion and analysis 136 JPMorgan Chase & Co. /2010 Annual Report As a result of these foreclosure process issues, the Firm has undertaken remedial actions to ensure that it satisfies all procedural requirements relating to mortgage foreclosures.
These actions include: ?
A complete review of the foreclosure document execution policies and procedures; ?
The creation of model affidavits that will comply with all local law requirements and be used in every case; ?
Implementation of enhanced procedures designed to ensure that employees who execute affidavits personally verify their contents and that the affidavits are executed only in the physical presence of a licensed notary; ?
Extensive training for all personnel who will have responsibility for document execution going forward and certification of those personnel by outside counsel; ?
Implementation of a rigorous quality control double-check review of affidavits completed by the Firm’s employees; and ?
Review and verification of our revised procedures by outside experts.
As of January 2011, the Firm has resumed initiation of new foreclosure proceedings in nearly all states in which it had previously suspended such proceedings.
The following table presents information as of December 31, 2010 and 2009, about the Firm’s nonperforming consumer assets, excluding credit card.
Nonperforming assets(a)
## Table 4 ##
(a) At December 31, 2010 and 2009, nonperforming assets excluded: (1) mortgage loans insured by U. S.  government agencies of $10.5 billion and $9.0 billion, respectively, that are 90 days past due and accruing at the guaranteed reimbursement rate; (2) real estate owned insured by U. S.  government agencies of $1.9 billion and $579 million, respectively; and (3) student loans that are 90 days past due and still accruing, which are insured by U. S.  government agencies under the FFELP, of $625 million and $542 million, respectively.
These amounts are excluded as reimbursement of insured amounts is proceeding normally.
(b) Excludes PCI loans that were acquired as part of the Washington Mutual transaction, which are accounted for on a pool basis.
Since each pool is accounted for as a single asset with a single composite interest rate and an aggregate expectation of cash flows, the past-due status of the pools, or that of individual loans within the pools, is not meaningful.
Because the Firm is recognizing interest income on each pool of loans, they are all considered to be performing.
Nonaccrual loans: Total consumer nonaccrual loans, excluding credit card, were $8.8 billion, compared with $10.7 billion at December 31, 2009.
Nonaccrual loans have stabilized, but remained at elevated levels.
The increase in loan modification activities is expected to continue to result in elevated levels of nonaccrual loans in the residential real estate portfolios as a result of both redefault of modified loans as well as the Firm’s policy that modified loans remain in nonaccrual status until repayment is reasonably assured and the borrower has made a minimum of six payments under the new terms.
Nonaccrual loans in the residential real estate portfolio totaled $7.8 billion at December 31, 2010, of which 71% were greater than 150 days past due; this compared with nonaccrual residential real estate loans of $9.6 billion at December 31, 2009, of which 64% were greater than 150 days past due.
Modified residential real estate loans of $1.3 billion and $920 million at December 31, 2010 and 2009, respectively, were classified as nonaccrual loans.
Of these modified residential real estate loans, $580 million and $256 million had yet to make six payments under their modified terms at December 31, 2010 and 2009, respectively, with the remaining nonaccrual modified loans having redefaulted.
In the aggregate, the unpaid principal balance of residential real estate loans greater than 150 days past due was charged down by approximately 46% and 36% to estimated collateral value at December 31, 2010 and 2009, respectively.
Real estate owned (“REO”): As part of the residential real estate foreclosure process, loans are written down to the fair value of the underlying real estate asset, less costs to sell, at acquisition.
Typically, any further gains or losses on REO assets are recorded as part of other income.
In those instances where the Firm gains ownership and possession of individual properties at the completion of the foreclosure process, these REO assets are managed for prompt sale and disposition at the best possible economic value.
Operating expense, such as real estate taxes and maintenance, are charged to other expense.
REO assets, excluding those insured by U. S.  government agencies, increased by $138 million from December 31, 2009 to $1.3 billion, primarily related to foreclosures of non-PCI loans.
It is anticipated that REO assets will continue to increase over the next several quarters, as loans moving through the foreclosure process are expected to increase.
Management’s discussion and analysis 48 JPMorgan Chase & Co. /2016 Annual Report EXPLANATION AND RECONCILIATION OF THE FIRM’S USE OF NON-GAAP FINANCIAL MEASURES AND KEY PERFORMANCE MEASURES Non-GAAP financial measures The Firm prepares its Consolidated Financial Statements using U. S.  GAAP; these financial statements appear on pages 141–145.
That presentation, which is referred to as “reported” basis, provides the reader with an understanding of the Firm’s results that can be tracked consistently from year to year and enables a comparison of the Firm’s performance with other companies’ U. S.  GAAP financial statements.
In addition to analyzing the Firm’s results on a reported basis, management reviews the Firm’s results, including the overhead ratio, and the results of the lines of business, on a “managed” basis, which are non-GAAP financial measures.
The Firm’s definition of managed basis starts with the reported U. S.  GAAP results and includes certain reclassifications to present total net revenue for the Firm (and each of the reportable business segments) on an FTE basis.
Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities.
These non-GAAP financial measures allow management to assess the comparability of revenue from year-to-year arising from both taxable and tax-exempt sources.
The corresponding income tax impact related to tax-exempt items is recorded within income tax expense.
These adjustments have no impact on net income as reported by the Firm as a whole or by the lines of business.
Management also uses certain non-GAAP financial measures at the Firm and business-segment level, because these other non-GAAP financial measures provide information to investors about the underlying operational performance and trends of the Firm or of the particular business segment, as the case may be, and, therefore, facilitate a comparison of the Firm or the business segment with the performance of its relevant competitors.
For additional information on these non-GAAP measures, see Business Segment Results on pages 51–70.
Additionally, certain credit metrics and ratios disclosed by the Firm exclude PCI loans, and are therefore non-GAAP measures.
For additional information on these non-GAAP measures, see Credit Risk Management on pages 86–107.
Non-GAAP financial measures used by the Firm may not be comparable to similarly named non-GAAP financial measures used by other companies.
The following summary table provides a reconciliation from the Firm’s reported U. S.  GAAP results to managed basis.
## Table 5 ##
(a) Predominantly recognized in CIB and CB business segments and Corporate.

Tables referenced above, in order (Table 0 first):
<table><tr><td></td><td>Pretax revenue</td></tr><tr><td>In millions of dollars</td><td>2009</td><td>2008</td></tr><tr><td>Private equity and equity investments</td><td>$201</td><td>$-377</td></tr><tr><td>Alt-A mortgages-1-2</td><td>321</td><td>-737</td></tr><tr><td>Commercial real estate (CRE) positions(1)(3)</td><td>68</td><td>270</td></tr><tr><td>CVA on Citi debt liabilities under fair value option</td><td>-3,974</td><td>4,325</td></tr><tr><td>CVA on derivatives positions, excluding monoline insurers</td><td>2,204</td><td>-3,292</td></tr><tr><td>Total significant revenue items</td><td>$-1,180</td><td>$189</td></tr></table>
<table><tr><td></td><td colspan="4">2010</td><td colspan="4">2009-1</td></tr><tr><td>In millions of dollars, except per share amounts</td><td>Fourth</td><td>Third</td><td>Second</td><td>First</td><td>Fourth</td><td>Third</td><td>Second</td><td>First</td></tr><tr><td>Revenues, net of interest expense</td><td>$18,371</td><td>$20,738</td><td>$22,071</td><td>$25,421</td><td>$5,405</td><td>$20,390</td><td>$29,969</td><td>$24,521</td></tr><tr><td>Operating expenses</td><td>12,471</td><td>11,520</td><td>11,866</td><td>11,518</td><td>12,314</td><td>11,824</td><td>11,999</td><td>11,685</td></tr><tr><td>Provisions for credit losses and for benefits and claims</td><td>4,840</td><td>5,919</td><td>6,665</td><td>8,618</td><td>8,184</td><td>9,095</td><td>12,676</td><td>10,307</td></tr><tr><td>Income (loss) from continuing operations before income taxes</td><td>$1,060</td><td>$3,299</td><td>$3,540</td><td>$5,285</td><td>$-15,093</td><td>$-529</td><td>$5,294</td><td>$2,529</td></tr><tr><td>Income taxes (benefits)</td><td>-313</td><td>698</td><td>812</td><td>1,036</td><td>-7,353</td><td>-1,122</td><td>907</td><td>835</td></tr><tr><td>Income (loss) from continuing operations</td><td>$1,373</td><td>$2,601</td><td>$2,728</td><td>$4,249</td><td>$-7,740</td><td>$593</td><td>$4,387</td><td>$1,694</td></tr><tr><td>Income (loss) from discontinued operations, net of taxes</td><td>98</td><td>-374</td><td>-3</td><td>211</td><td>232</td><td>-418</td><td>-142</td><td>-117</td></tr><tr><td>Net income (loss) before attribution ofnoncontrolling interests</td><td>$1,471</td><td>$2,227</td><td>$2,725</td><td>$4,460</td><td>$-7,508</td><td>$175</td><td>$4,245</td><td>$1,577</td></tr><tr><td>Net income (loss) attributable to noncontrolling interests</td><td>$162</td><td>$59</td><td>$28</td><td>$32</td><td>$71</td><td>$74</td><td>$-34</td><td>$-16</td></tr><tr><td>Citigroup’s net income (loss)</td><td>$1,309</td><td>$2,168</td><td>$2,697</td><td>$4,428</td><td>$-7,579</td><td>$101</td><td>$4,279</td><td>$1,593</td></tr><tr><td>Earnings per share-2(3)</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Basic</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income (loss) from continuing operations</td><td>$0.04</td><td>$0.09</td><td>$0.09</td><td>$0.15</td><td>$-0.34</td><td>$-0.23</td><td>$0.51</td><td>$-0.16</td></tr><tr><td>Net income (loss)</td><td>0.04</td><td>0.07</td><td>0.09</td><td>0.15</td><td>-0.33</td><td>-0.27</td><td>0.49</td><td>-0.18</td></tr><tr><td>Diluted</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Income (loss) from continuing operations</td><td>0.04</td><td>0.08</td><td>0.09</td><td>0.14</td><td>-0.34</td><td>-0.23</td><td>0.51</td><td>-0.16</td></tr><tr><td>Net income (loss)</td><td>0.04</td><td>0.07</td><td>0.09</td><td>0.15</td><td>-0.33</td><td>-0.27</td><td>0.49</td><td>-0.18</td></tr><tr><td>Common stock price per share</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>High</td><td>$4.81</td><td>$4.30</td><td>$4.97</td><td>$4.31</td><td>$5.00</td><td>$5.23</td><td>$4.02</td><td>$7.46</td></tr><tr><td>Low</td><td>3.95</td><td>3.66</td><td>3.63</td><td>3.15</td><td>3.20</td><td>2.59</td><td>2.68</td><td>1.02</td></tr><tr><td>Close</td><td>4.73</td><td>3.91</td><td>3.76</td><td>4.05</td><td>3.31</td><td>4.84</td><td>2.97</td><td>2.53</td></tr><tr><td>Dividends per share of common stock</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>—</td><td>0.01</td></tr></table>
<table><tr><td><i>(In millions)</i>  </td><td> 2004 </td><td>2003 </td><td>2002 </td></tr><tr><td>E&P<sup>(a)</sup></td><td></td><td></td><td></td></tr><tr><td>Domestic</td><td>$402</td><td>$344</td><td>$417</td></tr><tr><td>International</td><td>542</td><td>629</td><td>403</td></tr><tr><td>Total E&P</td><td>944</td><td>973</td><td>820</td></tr><tr><td>RM&T</td><td>784</td><td>772</td><td>621</td></tr><tr><td>IG</td><td>490</td><td>131</td><td>48</td></tr><tr><td>Corporate</td><td>19</td><td>16</td><td>31</td></tr><tr><td>Total</td><td>$2,237</td><td>$1,892</td><td>$1,520</td></tr></table>
<table><tr><td>December 31,</td><td>Credit exposure</td><td>Nonperforming (f)</td></tr><tr><td>(in millions)</td><td>2010</td><td>2009</td><td>2010</td><td>2009</td></tr><tr><td>Loans retained</td><td>$222,510</td><td>$200,077</td><td>$5,510</td><td>$6,559</td></tr><tr><td>Loans held-for-sale</td><td>3,147</td><td>2,734</td><td>341</td><td>234</td></tr><tr><td>Loans at fair value</td><td>1,976</td><td>1,364</td><td>155</td><td>111</td></tr><tr><td>Loans– reported</td><td>227,633</td><td>204,175</td><td>6,006</td><td>6,904</td></tr><tr><td>Derivative receivables</td><td>80,481</td><td>80,210</td><td>34</td><td>529</td></tr><tr><td>Receivables from customers<sup>(a)</sup></td><td>32,541</td><td>15,745</td><td>—</td><td>—</td></tr><tr><td>Interests in purchased receivables<sup>(b)</sup></td><td>391</td><td>2,927</td><td>—</td><td>—</td></tr><tr><td>Total wholesale credit-related assets</td><td>341,046</td><td>303,057</td><td>6,040</td><td>7,433</td></tr><tr><td>Lending-related commitments<sup>(c)</sup></td><td>346,079</td><td>347,155</td><td>1,005</td><td>1,577</td></tr><tr><td>Total wholesale credit exposure</td><td>$687,125</td><td>$650,212</td><td>$7,045</td><td>$9,010</td></tr><tr><td>Net credit derivative hedges notional<sup>(d)</sup></td><td>$-23,108</td><td>$-48,376</td><td>$-55</td><td>$-139</td></tr><tr><td>Liquid securities and other cash collateral held against derivatives<sup>(e)</sup></td><td>-16,486</td><td>-15,519</td><td>NA</td><td>NA</td></tr></table>
<table><tr><td>December 31, (in millions)</td><td> 2010</td><td>2009</td></tr><tr><td> Nonaccrual loans<sup>(b)</sup></td><td></td><td></td></tr><tr><td>Home equity– senior lien</td><td>$479</td><td>$477</td></tr><tr><td>Home equity– junior lien</td><td>784</td><td>1,188</td></tr><tr><td>Prime mortgage, including option ARMs</td><td>4,320</td><td>4,667</td></tr><tr><td>Subprime mortgage</td><td>2,210</td><td>3,248</td></tr><tr><td>Auto</td><td>141</td><td>177</td></tr><tr><td>Business banking</td><td>832</td><td>826</td></tr><tr><td>Student and other</td><td>67</td><td>74</td></tr><tr><td> Total nonaccrual loans</td><td>8,833</td><td>10,657</td></tr><tr><td> Assets acquired in loan satisfactions</td><td></td><td></td></tr><tr><td>Real estate owned</td><td>1,294</td><td>1,156</td></tr><tr><td>Other</td><td>67</td><td>99</td></tr><tr><td> Total assets acquired in loan satisfactions</td><td>1,361</td><td>1,255</td></tr><tr><td> Total nonperforming assets</td><td>$10,194</td><td>$11,912</td></tr></table>
<table><tr><td></td><td colspan="3">2016</td><td colspan="3">2015</td><td colspan="3">2014</td></tr><tr><td>Year endedDecember 31,(in millions, except ratios)</td><td>ReportedResults</td><td>Fully taxable-equivalent adjustments<sup>(a)</sup></td><td>Managedbasis</td><td>ReportedResults</td><td>Fully taxable-equivalent adjustments<sup>(a)</sup></td><td>Managedbasis</td><td>ReportedResults</td><td>Fully taxable-equivalent adjustments<sup>(a)</sup></td><td>Managedbasis</td></tr><tr><td>Other income</td><td>$3,795</td><td>$2,265</td><td>$6,060</td><td>$3,032</td><td>$1,980</td><td>$5,012</td><td>$3,013</td><td>$1,788</td><td>$4,801</td></tr><tr><td>Total noninterest revenue</td><td>49,585</td><td>2,265</td><td>51,850</td><td>50,033</td><td>1,980</td><td>52,013</td><td>51,478</td><td>1,788</td><td>53,266</td></tr><tr><td>Net interest income</td><td>46,083</td><td>1,209</td><td>47,292</td><td>43,510</td><td>1,110</td><td>44,620</td><td>43,634</td><td>985</td><td>44,619</td></tr><tr><td>Total net revenue</td><td>95,668</td><td>3,474</td><td>99,142</td><td>93,543</td><td>3,090</td><td>96,633</td><td>95,112</td><td>2,773</td><td>97,885</td></tr><tr><td>Pre-provision profit</td><td>39,897</td><td>3,474</td><td>43,371</td><td>34,529</td><td>3,090</td><td>37,619</td><td>33,838</td><td>2,773</td><td>36,611</td></tr><tr><td>Income before income tax expense</td><td>34,536</td><td>3,474</td><td>38,010</td><td>30,702</td><td>3,090</td><td>33,792</td><td>30,699</td><td>2,773</td><td>33,472</td></tr><tr><td>Income tax expense</td><td>9,803</td><td>3,474</td><td>13,277</td><td>6,260</td><td>3,090</td><td>9,350</td><td>8,954</td><td>2,773</td><td>11,727</td></tr><tr><td>Overhead ratio</td><td>58%</td><td>NM</td><td>56%</td><td>63%</td><td>NM</td><td>61%</td><td>64%</td><td>NM</td><td>63%</td></tr></table>

Question: What do all Revenues, net of interest expense sum up, excluding those negative ones in 2010? (in million)
Answer: 86601
Reasoning program: add(18371,20738), add(#0,22071), add(#1,25421)