Table:
|  | Year Ended December 31, |  |
| --- | --- | --- |
|  | 2019 | 2018 |
| Deferred tax assets: |  |  |
| Investment in partnership | $358,024 | $299,466 |
| Net operating loss carryforwards and tax credits | 5,160 | 5,634 |
| Other | 1,657 | 1,879 |
| Total | 364,841 | 306,979 |
| Valuation allowance | — | — |
| Total deferred tax assets | 364,841 | 306,979 |
| Total deferred tax liabilities | — | — |
| Deferred tax assets, net | $364,841 | $306,979 |
Paragraphs:
GreenSky, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) (United States Dollars in thousands, except per share data, unless otherwise stated)
Details of the Company’s deferred tax assets and liabilities are as follows:
As of December 31, 2019, the Company had net operating loss carryforwards (“NOLs”) of $4.7 million, of which approximately $3.9 million have an indefinite life. NOLs of $0.8 million will begin to expire in 2030. As of December 31, 2019, the Company had federal and state tax credit carryforwards of $0.2 million and $0.5 million, respectively, which will begin to expire in 2028 and 2038. The Company believes as of December 31, 2019, it is more likely than not that the results of future operations will generate sufficient taxable income to realize the NOLs and tax credits and, as such, no valuation allowance was recorded.
Question:
What was the change in the Net operating loss carryforwards and tax credits between 2018 and 2019?
Answer: (5160-5634)/5634 = -8.41