240 GLOC

Michael Swaine's "Is Your Next Language COBOL?":

To say that COBOL is widespread is an understatement. In 1997 the Gartner Group estimated that there were 240 billion lines of COBOL code in active apps. Something like 90 percent of financial transactions are processed by COBOL code, and 75 percent of all business data processing is COBOL. Merril Lynch reports that 70 percent of its business runs on COBOL apps.... One estimate puts the value of current running COBOL code at $2 trillion.