Wells Fargo 2007 Annual Report Download - page 78

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75
Wells Fargo & Company and Subsidiaries
Consolidated Balance Sheet
(in millions, except shares) December 31,
2007 2006
ASSETS
Cash and due from banks $ 14,757 $ 15,028
Federal funds sold, securities purchased under
resale agreements and other short-term investments 2,754 6,078
Trading assets 7,727 5,607
Securities available for sale 72,951 42,629
Mortgages held for sale (includes $24,998 carried at fair value at December 31, 2007) 26,815 33,097
Loans held for sale 948 721
Loans 382,195 319,116
Allowance for loan losses (5,307) (3,764)
Net loans 376,888 315,352
Mortgage servicing rights:
Measured at fair value (residential MSRs) 16,763 17,591
Amortized 466 377
Premises and equipment, net 5,122 4,698
Goodwill 13,106 11,275
Other assets 37,145 29,543
Total assets $575,442 $481,996
LIABILITIES
Noninterest-bearing deposits $ 84,348 $ 89,119
Interest-bearing deposits 260,112 221,124
Total deposits 344,460 310,243
Short-term borrowings 53,255 12,829
Accrued expenses and other liabilities 30,706 25,965
Long-term debt 99,393 87,145
Total liabilities 527,814 436,182
STOCKHOLDERS’ EQUITY
Preferred stock 450 384
Common stock – $12/3par value, authorized 6,000,000,000 shares;
issued 3,472,762,050 shares 5,788 5,788
Additional paid-in capital 8,212 7,739
Retained earnings 38,970 35,215
Cumulative other comprehensive income 725 302
Treasury stock – 175,659,842 shares and 95,612,189 shares (6,035) (3,203)
Unearned ESOP shares (482) (411)
Total stockholders’ equity 47,628 45,814
Total liabilities and stockholders’ equity $575,442 $481,996
The accompanying notes are an integral part of these statements.