{"pre_text": ["management 2019s discussion and analysis investing & lending investing & lending includes our investing activities and the origination of loans to provide financing to clients .", "these investments and loans are typically longer-term in nature .", "we make investments , some of which are consolidated , directly and indirectly through funds that we manage , in debt securities and loans , public and private equity securities , and real estate entities .", "the table below presents the operating results of our investing & lending segment. ."], "post_text": ["1 .", "includes net revenues of $ 325 million for 2014 , $ 329 million for 2013 and $ 362 million for 2012 related to metro international trade services llc .", "we completed the sale of this consolidated investment in december 2014 .", "2014 versus 2013 .", "net revenues in investing & lending were $ 6.83 billion for 2014 , 3% ( 3 % ) lower than 2013 .", "net gains from investments in equity securities were slightly lower due to a significant decrease in net gains from investments in public equities , as movements in global equity prices during 2014 were less favorable compared with 2013 , partially offset by an increase in net gains from investments in private equities , primarily driven by company-specific events .", "net revenues from debt securities and loans were higher than 2013 , reflecting a significant increase in net interest income , primarily driven by increased lending , and a slight increase in net gains , primarily due to sales of certain investments during 2014 .", "other net revenues , related to our consolidated investments , were significantly lower compared with 2013 , reflecting a decrease in operating revenues from commodities-related consolidated investments .", "during 2014 , net revenues in investing & lending generally reflected favorable company-specific events , including initial public offerings and financings , and strong corporate performance , as well as net gains from sales of certain investments .", "however , concerns about the outlook for the global economy and uncertainty over the impact of financial regulatory reform continue to be meaningful considerations for the global marketplace .", "if equity markets decline or credit spreads widen , net revenues in investing & lending would likely be negatively impacted .", "operating expenses were $ 2.82 billion for 2014 , 5% ( 5 % ) higher than 2013 , reflecting higher compensation and benefits expenses , partially offset by lower expenses related to consolidated investments .", "pre-tax earnings were $ 4.01 billion in 2014 , 8% ( 8 % ) lower than 2013 .", "2013 versus 2012 .", "net revenues in investing & lending were $ 7.02 billion for 2013 , 19% ( 19 % ) higher than 2012 , reflecting a significant increase in net gains from investments in equity securities , driven by company-specific events and stronger corporate performance , as well as significantly higher global equity prices .", "in addition , net gains and net interest income from debt securities and loans were slightly higher , while other net revenues , related to our consolidated investments , were lower compared with 2012 .", "during 2013 , net revenues in investing & lending generally reflected favorable company-specific events and strong corporate performance , as well as the impact of significantly higher global equity prices and tighter corporate credit spreads .", "operating expenses were $ 2.69 billion for 2013 , essentially unchanged compared with 2012 .", "operating expenses during 2013 included lower impairment charges and lower operating expenses related to consolidated investments , partially offset by increased compensation and benefits expenses due to higher net revenues compared with 2012 .", "pre-tax earnings were $ 4.33 billion in 2013 , 34% ( 34 % ) higher than 2012 .", "goldman sachs 2014 annual report 45 ."], "table": [["$ in millions", "year ended december 2014", "year ended december 2013", "year ended december 2012"], ["equity securities", "$ 3813", "$ 3930", "$ 2800"], ["debt securities and loans", "2165", "1947", "1850"], ["other1", "847", "1141", "1241"], ["total net revenues", "6825", "7018", "5891"], ["operating expenses", "2819", "2686", "2668"], ["pre-tax earnings", "$ 4006", "$ 4332", "$ 3223"]], "table_ori": [["", "Year Ended December"], ["<i>$ in millions</i>", "2014", "2013", "2012"], ["Equity securities", "$3,813", "$3,930", "$2,800"], ["Debt securities and loans", "2,165", "1,947", "1,850"], ["Other<sup>1</sup>", "847", "1,141", "1,241"], ["Total net revenues", "6,825", "7,018", "5,891"], ["Operating expenses", "2,819", "2,686", "2,668"], ["Pre-tax earnings", "$4,006", "$4,332", "$3,223"]]}

Question: in 2013 what percentage of total net revenues for the investing & lending segment were due to debt securities and loans?
Evidence:
table_2: $ in millions the debt securities and loans of year ended december 2014 is 2165 ; the debt securities and loans of year ended december 2013 is 1947 ; the debt securities and loans of year ended december 2012 is 1850 ;
table_4: $ in millions the total net revenues of year ended december 2014 is 6825 ; the total net revenues of year ended december 2013 is 7018 ; the total net revenues of year ended december 2012 is 5891 ;
Program: divide(1947, 7018)
Answer:
str_answer: 28%
exe_answer: 0.27743