{"pre_text": ["the goldman sachs group , inc .", "and subsidiaries management 2019s discussion and analysis the table below presents our average monthly assets under supervision by asset class .", "average for the year ended december $ in billions 2017 2016 2015 ."], "post_text": ["operating environment .", "during 2017 , investment management operated in an environment characterized by generally higher asset prices , resulting in appreciation in both equity and fixed income assets .", "in addition , our long- term assets under supervision increased from net inflows primarily in fixed income and alternative investment assets .", "these increases were partially offset by net outflows in liquidity products .", "as a result , the mix of average assets under supervision during 2017 shifted slightly from liquidity products to long-term assets under supervision as compared to the mix at the end of 2016 .", "in the future , if asset prices decline , or investors favor assets that typically generate lower fees or investors withdraw their assets , net revenues in investment management would likely be negatively impacted .", "following a challenging first quarter of 2016 , market conditions improved during the remainder of 2016 with higher asset prices resulting in full year appreciation in both equity and fixed income assets .", "also , our assets under supervision increased during 2016 from net inflows , primarily in fixed income assets , and liquidity products .", "the mix of our average assets under supervision shifted slightly compared with 2015 from long-term assets under supervision to liquidity products .", "management fees were impacted by many factors , including inflows to advisory services and outflows from actively-managed mutual funds .", "2017 versus 2016 .", "net revenues in investment management were $ 6.22 billion for 2017 , 7% ( 7 % ) higher than 2016 , due to higher management and other fees , reflecting higher average assets under supervision , and higher transaction revenues .", "during the year , total assets under supervision increased $ 115 billion to $ 1.49 trillion .", "long- term assets under supervision increased $ 128 billion , including net market appreciation of $ 86 billion , primarily in equity and fixed income assets , and net inflows of $ 42 billion ( which includes $ 20 billion of inflows in connection with the verus acquisition and $ 5 billion of equity asset outflows in connection with the australian divestiture ) , primarily in fixed income and alternative investment assets .", "liquidity products decreased $ 13 billion ( which includes $ 3 billion of inflows in connection with the verus acquisition ) .", "operating expenses were $ 4.80 billion for 2017 , 3% ( 3 % ) higher than 2016 , primarily due to increased compensation and benefits expenses , reflecting higher net revenues .", "pre-tax earnings were $ 1.42 billion in 2017 , 25% ( 25 % ) higher than 2016 versus 2015 .", "net revenues in investment management were $ 5.79 billion for 2016 , 7% ( 7 % ) lower than 2015 .", "this decrease primarily reflected significantly lower incentive fees compared with a strong 2015 .", "in addition , management and other fees were slightly lower , reflecting shifts in the mix of client assets and strategies , partially offset by the impact of higher average assets under supervision .", "during 2016 , total assets under supervision increased $ 127 billion to $ 1.38 trillion .", "long-term assets under supervision increased $ 75 billion , including net inflows of $ 42 billion , primarily in fixed income assets , and net market appreciation of $ 33 billion , primarily in equity and fixed income assets .", "in addition , liquidity products increased $ 52 billion .", "operating expenses were $ 4.65 billion for 2016 , 4% ( 4 % ) lower than 2015 , due to decreased compensation and benefits expenses , reflecting lower net revenues .", "pre-tax earnings were $ 1.13 billion in 2016 , 17% ( 17 % ) lower than 2015 .", "geographic data see note 25 to the consolidated financial statements for a summary of our total net revenues , pre-tax earnings and net earnings by geographic region .", "goldman sachs 2017 form 10-k 63 ."], "table": [["$ in billions", "average for theyear ended december 2017", "average for theyear ended december 2016", "average for theyear ended december 2015"], ["alternative investments", "$ 162", "$ 149", "$ 145"], ["equity", "292", "256", "247"], ["fixed income", "633", "578", "530"], ["total long-term aus", "1087", "983", "922"], ["liquidity products", "330", "326", "272"], ["total aus", "$ 1417", "$ 1309", "$ 1194"]], "table_ori": [["", "Average for theYear Ended December"], ["<i>$ in billions</i>", "2017", "2016", "2015"], ["Alternative investments", "$ 162", "$ 149", "$ 145"], ["Equity", "292", "256", "247"], ["Fixed income", "633", "578", "530"], ["Total long-term AUS", "1,087", "983", "922"], ["Liquidity products", "330", "326", "272"], ["Total AUS", "$1,417", "$1,309", "$1,194"]]}

Question: long- term assets under supervision , in billions , were what excluding net market appreciation?
Evidence:
text_16: long- term assets under supervision increased $ 128 billion , including net market appreciation of $ 86 billion , primarily in equity and fixed income assets , and net inflows of $ 42 billion ( which includes $ 20 billion of inflows in connection with the verus acquisition and $ 5 billion of equity asset outflows in connection with the australian divestiture ) , primarily in fixed income and alternative investment assets .
Program: subtract(128, 86)
Answer:
str_answer: 42
exe_answer: 42