Wells Fargo 2009 Annual Report Download - page 55

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Table 18: Contractual Obligations
Note(s) to
Financial Less than 1-3 3-5 More than Indeterminate
(in millions) Statements 1 year years years 5 years maturity(1) Total
Contractual payments by period:
Deposits 11 $126,061 30,303 17,579 3,006 647,069 824,018
Long-term debt (2) 7, 13 40,495 64,726 30,779 67,861 — 203,861
Operating leases 7 1,217 2,055 1,588 3,503 — 8,363
Unrecognized tax obligations 20 49 — — — 2,253 2,302
Purchase obligations (3) 400 364 56 6 — 826
Total contractual obligations $168,222 97,448 50,002 74,376 649,322 1,039,370
(1) Includes interest-bearing and noninterest-bearing checking, and market rate and other savings accounts.
(2) Includes obligations under capital leases of $77 million.
(3) Represents agreements to purchase goods or services.
Contractual Obligations
In addition to the contractual commitments and arrangements
previously described, which, depending on the nature of the
obligation, may or may not require use of our resources, we
enter into other contractual obligations in the ordinary course
of business, including debt issuances for the funding of
operations and leases for premises and equipment.
Table 18 summarizes these contractual obligations as
of December 31, 2009, excluding obligations for short-term
borrowing arrangements and pension and postretirement
benefit plans. More information on those obligations is in
Note 12 (Short-Term Borrowings) and Note 19 (Employee
Benefits and Other Expenses) to Financial Statements in
this Report.
We are subject to the income tax laws of the U.S., its
states and municipalities, and those of the foreign jurisdic-
tions in which we operate. We have various unrecognized
tax obligations related to these operations that may require
future cash tax payments to various taxing authorities.
Because of their uncertain nature, the expected timing and
amounts of these payments generally are not reasonably
estimable or determinable. We attempt to estimate the
amount payable in the next 12 months based on the status
of our tax examinations and settlement discussions. See
Note 20 (Income Taxes) to Financial Statements in this
Report for more information.
We enter into derivatives, which create contractual
obligations, as part of our interest rate risk management
process for our customers or for other trading activities.
See the “Risk Management – Asset/Liability and Market Risk
Management” section and Note 15 (Derivatives) to Financial
Statements in this Report for more information.
Transactions with Related Parties
The Related Party Disclosures topic of the Codification
requires disclosure of material related party transactions,
other than compensation arrangements, expense allowances
and other similar items in the ordinary course of business.
We had no related party transactions required to be reported
for the years ended December 31, 2009, 2008 and 2007.