 During the 2015/16 financial year UCL had a capital expenditure of £146.6 million (2014/15 – £149.3 million).At year end UCL had endowments of £100.9 million (31 July 2015 – £104.1 million) and total net assets of £1.19 billion (31 July 2015 – £1.07 million).In 2014/15, UCL had the third-highest total income of any British university (after the University of Cambridge and the University of Oxford), and the third-highest income from research grants and contracts (after the University of Oxford and Imperial College London).