what was the consumer expected loss allowance at 12/31/2002 , in billions?
j.p . morgan chase & co . / 2003 annual report 65 the commercial specific loss component of the allowance was $ 917 million at december 31 , 2003 , a decrease of 43% ( 43 % ) from year-end 2002 . the decrease was attributable to the improve- ment in the credit quality of the commercial loan portfolio , as well as the reduction in the size of the portfolio . the commercial expected loss component of the allowance was $ 454 million at december 31 , 2003 , a decrease of 26% ( 26 % ) from year- end 2002 . the decrease reflected an improvement in the average quality of the loan portfolio , as well as the improving credit envi- ronment , which affected inputs to the expected loss model . the consumer expected loss component of the allowance was $ 2.3 billion at december 31 , 2003 , a decrease of 4% ( 4 % ) from year- end 2002 . although the consumer managed loan portfolio increased by 10% ( 10 % ) , the businesses that drove the increase , home finance and auto finance , have collateralized products with lower expected loss rates . the residual component of the allowance was $ 895 million at december 31 , 2003 . the residual component , which incorpo- rates management's judgment , addresses uncertainties that are not considered in the formula-based commercial specific and expected components of the allowance for credit losses . the $ 121 million increase addressed uncertainties in the eco- nomic environment and concentrations in the commercial loan portfolio that existed during the first half of 2003 . in the sec- ond half of the year , as commercial credit quality continued to improve and the commercial allowance declined further , the residual component was reduced as well . at december 31 , 2003 , the residual component represented approximately 20% ( 20 % ) of the total allowance for loan losses , within the firm 2019s target range of between 10% ( 10 % ) and 20% ( 20 % ) . the firm anticipates that if the current positive trend in economic conditions and credit quality continues , the commercial and residual components will continue to be reduced . lending-related commitments to provide for the risk of loss inherent in the credit-extension process , management also computes specific and expected loss components as well as a residual component for commercial lending 2013related commitments . this is computed using a methodology similar to that used for the commercial loan port- folio , modified for expected maturities and probabilities of drawdown . the allowance decreased by 11% ( 11 % ) to $ 324 million as of december 31 , 2003 , due to improvement in the criticized portion of the firm 2019s lending-related commitments . credit costs .

| For the year ended December 31 | 2003 | 2002 |
| :--- | :--- | :--- |
| (in millions) | Commercial | Consumer | Residual | Total | Commercial | Consumer | Residual | Total |
| Provision for loan losses | $(30) | $1,491 | $118 | $1,579 | $2,371 | $1,589 | $79 | $4,039 |
| Provision for lending-related commitments | (47) | — | 8 | (39) | 309 | — | (17) | 292 |
| Securitized credit losses | — | 1,870 | — | 1,870 | — | 1,439 | — | 1,439 |
| Total managed credit costs | $(77) | $3,361 | $126 | $3,410 | $2,680 | $3,028 | $62 | $5,770 |

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a = 100 - 4
b = a / 100
c = 2.3 / b 
answer = c