in connection with our assessment of impairment we recorded gross other-than-temporary impairment of $ 1.15 billion for 2009 , compared to $ 122 million for 2008 . of the total recorded , $ 227 million related to credit and was recognized in our consolidated statement of income . the remaining $ 928 million related to factors other than credit , more fully discussed below , and was recognized , net of related taxes , in oci in our consolidated statement of condition . the $ 227 million was composed of $ 151 million associated with expected credit losses , $ 54 million related to management 2019s decision to sell the impaired securities prior to their recovery in value , and $ 22 million related to adverse changes in the timing of expected future cash flows from the securities . the majority of the impairment losses related to non-agency securities collateralized by mortgages , for which management concluded had experienced credit losses based on the present value of the securities 2019 expected future cash flows . these securities are classified as asset-backed securities in the foregoing investment securities tables . as described in note 1 , management periodically reviews the fair values of investment securities to determine if other-than-temporary impairment has occurred . this review encompasses all investment securities and includes such quantitative factors as current and expected future interest rates and the length of time that a security 2019s cost basis has exceeded its fair value , and includes investment securities for which we have issuer- specific concerns regardless of quantitative factors . gains and losses related to investment securities were as follows for the years ended december 31: .

Table:
( in millions ) | 2009 | 2008 | 2007
gross gains from sales of available-for-sale securities | $ 418 | $ 100 | $ 24
gross losses from sales of available-for-sale securities | -50 ( 50 ) | -32 ( 32 ) | -17 ( 17 )
gross losses from other-than-temporary impairment | -1155 ( 1155 ) | -122 ( 122 ) | -34 ( 34 )
losses not related to credit ( 1 ) | 928 | 2014 | 2014
net impairment losses | -227 ( 227 ) | -122 ( 122 ) | -34 ( 34 )
gains ( losses ) related to investment securities net | $ 141 | $ -54 ( 54 ) | $ -27 ( 27 )
( 1 ) these losses were recognized as a component of oci ; see note 12 .
we conduct periodic reviews to evaluate each security that is impaired .
impairment exists when the current fair value of an individual security is below its amortized cost basis .
for debt securities available for sale and held to maturity , other-than-temporary impairment is recorded in our consolidated statement of income when management intends to sell ( or may be required to sell ) securities before they recover in value , or when management expects the present value of cash flows expected to be collected to be less than the amortized cost of the impaired security ( a credit loss ) .
our review of impaired securities generally includes : 2022 the identification and evaluation of securities that have indications of possible other-than-temporary impairment , such as issuer-specific concerns including deteriorating financial condition or bankruptcy ; 2022 the analysis of expected future cash flows of securities , based on quantitative and qualitative factors ; 2022 the analysis of the collectability of those future cash flows , including information about past events , current conditions and reasonable and supportable forecasts ; 2022 the analysis of individual impaired securities , including consideration of the length of time the security has been in an unrealized loss position and the anticipated recovery period ; 2022 the discussion of evidential matter , including an evaluation of factors or triggers that could cause individual securities to be deemed other-than-temporarily impaired and those that would not support other-than-temporary impairment ; and 2022 documentation of the results of these analyses .
factors considered in determining whether impairment is other than temporary include : 2022 the length of time the security has been impaired; .

Question: what percent of the $ 227 million was associated with expected credit losses?
Answer: 67%
Calculation: divide(151, 227)