Wells Fargo 2008 Annual Report Download - page 123
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The changes in the carrying amount of goodwill as allocated to our operating segments for goodwill impairment analysis were:
Note 11: Goodwill
For goodwill impairment testing, enterprise-level goodwill
acquired in business combinations is allocated to reporting units
based on the relative fair value of assets acquired and recorded
in the respective reporting units. Through this allocation, we
assigned enterprise-level goodwill to the reporting units that
are expected to benefit from the synergies of the combination.
We used discounted estimated future net cash flows to
evaluate goodwill reported at all reporting units.
For our goodwill impairment analysis, we allocate all
of the goodwill to the individual operating segments. For
management reporting we do not allocate all of the goodwill
to the individual operating segments; some is allocated at
the enterprise level. See Note 24 for further information
on management reporting. The balances of goodwill for
management reporting were:
(in millions) Community Wholesale Wells Fargo Enterprise Consolidated
Banking(1) Banking(1) Financial Company
December 31, 2007 $ 4,734 $ 2,152 $423 $ 5,797 $ 13,106
December 31, 2008 11,905 4,512 413 5,797 22,627
(1) To reflect the realignment of our corporate trust business from Community Banking into Wholesale Banking in first quarter 2008, balances for prior periods have
been revised.
(in millions) Community Wholesale Wells Fargo Consolidated
Banking(1) Banking(1) Financial Company
December 31, 2006 $ 7,357 $ 3,552 $366 $ 11,275
Goodwill from business combinations 1,224 550 49 1,823
Foreign currency translation adjustments — — 8 8
December 31, 2007 8,581 4,102 423 13,106
Reduction in goodwill related to
divested businesses — (1) — (1)
Goodwill and revisions to goodwill
from business combinations 7,171 2,361 — 9,532
Foreign currency translation adjustments — — (10) (10)
December 31, 2008 $15,752 $6,462 $413 $22,627
(1) To reflect the realignment of our corporate trust business from Community Banking into Wholesale Banking in first quarter 2008, balances for prior periods have
been revised.