Wells Fargo 2005 Annual Report Download - page 106

Download and view the complete annual report

Please find page 106 of the 2005 Wells Fargo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

104
Note 23: Legal Actions
In the normal course of business, we are subject to pending
and threatened legal actions, some for which the relief or
damages sought are substantial. After reviewing pending
and threatened actions with counsel, and any specific
reserves established for such matters, management believes
that the outcome of such actions will not have a material
adverse effect on the results of operations or stockholders’
equity. We are not able to predict whether the outcome of
such actions may or may not have a material adverse effect
on results of operations in a particular future period as the
timing and amount of any resolution of such actions and its
relationship to the future results of operations are not known.
Condensed Consolidating Statement of Cash Flows
(in millions) Parent WFFI Other Consolidated
consolidating Company
subsidiaries/
eliminations
Year ended December 31, 2003
Cash flows from operating activities:
Net cash provided by operating activities $ 6,352 $ 1,271 $ 23,572 $ 31,195
Cash flows from investing activities:
Securities available for sale:
Sales proceeds 146 347 6,864 7,357
Prepayments and maturities 150 223 12,779 13,152
Purchases (655) (732) (23,744) (25,131)
Net cash paid for acquisitions (55) (600) (167) (822)
Increase in banking subsidiaries’ loan
originations, net of collections — — (36,235) (36,235)
Proceeds from sales (including participations) of loans by
banking subsidiaries — — 1,590 1,590
Purchases (including participations) of loans by
banking subsidiaries — — (15,087) (15,087)
Principal collected on nonbank entities’loans 3,683 13,335 620 17,638
Loans originated by nonbank entities — (21,035) (757) (21,792)
Purchases of loans by nonbank entities (3,682) — — (3,682)
Net advances to nonbank entities (2,570) — 2,570 —
Capital notes and term loans made to subsidiaries (14,614) — 14,614 —
Principal collected on notes/loans made to subsidiaries 6,160 — (6,160) —
Net decrease (increase) in investment in subsidiaries 122 — (122) —
Other, net — 107 (74)33
Net cash used by investing activities (11,315) (8,355) (43,309) (62,979)
Cash flows from financing activities:
Net increase in deposits — 22 28,621 28,643
Net decrease in short-term borrowings (1,182) (676) (7,043) (8,901)
Proceeds from issuance of long-term debt 15,656 10,355 3,479 29,490
Long-term debt repayment (3,425) (2,151) (12,355) (17,931)
Proceeds from issuance of guaranteed preferred beneficial
interests in Company’s subordinated debentures 700 — — 700
Proceeds from issuance of common stock 944 — — 944
Preferred stock redeemed (73) — — (73)
Common stock repurchased (1,482) — — (1,482)
Cash dividends paid on preferred and common stock (2,530) (600) 600 (2,530)
Other, net — — 651 651
Net cash provided by financing activities 8,608 6,950 13,953 29,511
Net change in cash and due from banks 3,645 (134) (5,784) (2,273)
Cash and due from banks at beginning of year 3,160 295 14,365 17,820
Cash and due from banks at end of year $ 6,805 $ 161 $ 8,581 $ 15,547