Wells Fargo 2011 Annual Report Download - page 132

Download and view the complete annual report

Please find page 132 of the 2011 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 240

  • 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
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240

Note 1: Summary of Significant Accounting Policies (continued)
measurement. These up-front payments received permanent
equity treatment in the quarter paid and thus assured
appropriate repurchase timing, consistent with our 2011 capital
plan which contemplated a fixed dollar amount available per
quarter for share repurchases pursuant to FRB supervisory
guidance. In return, the counterparty agreed to deliver a variable
number of shares based on a per share discount to the volume-
weighted average stock price over the contract period. The
counterparty had the right to accelerate settlement with delivery
of shares prior to the contractual settlement. There were no
scenarios where the contracts would not either physically settle
in shares or allow us to choose the settlement method.
SUPPLEMENTAL CASH FLOW INFORMATION
Noncash activities are presented below, including information on transfers affecting
MHFS, LHFS and MSRs.
Year ended December 31,
(in millions)
2011
2010
2009
Transfers from trading assets to securities available for sale
$
47
-
854
Transfers from (to) loans to (from) securities available for sale
2,822
3,476
(258)
Trading assets retained from securitization of MHFS
61,599
19,815
2,993
Capitalization of MSRs from sale of MHFS
4,089
4,570
6,287
Transfers from MHFS to foreclosed assets
224
262
162
Transfers from (to) loans to (from) MHFS
6,305
230
144
Transfers from (to) loans to (from) LHFS
129
1,313
(111)
Transfers from loans to foreclosed assets
9,315
8,699
7,604
Changes in consolidations of variable interest entities:
Trading assets
-
155
-
Securities available for sale
7
(7,590)
-
Loans
(599)
26,117
-
Other assets
-
212
-
Short-term borrowings
-
5,127
-
Long-term debt
(628)
13,613
-
Accrued expenses and other liabilities
-
(32)
-
Net transfer from additional paid-in capital to noncontrolling interests
-
-
2,299
Decrease in noncontrolling interests due to deconsolidation of subsidiaries
-
440
-
Transfer from noncontrolling interests to long-term debt
-
345
-
Consolidation of reverse mortgages previously sold:
Loans
5,483
-
-
Long-term debt
5,425
-
-
SUBSEQUENT EVENTS
We have evaluated the effects of
subsequent events that have occurred subsequent to period end
December 31, 2011, and there have been no material events that
would require recognition in our 2011 consolidated financial
statements or disclosure in the Notes to the financial statements,
except as discussed in Note 15 (Legal Actions) for the
announcement on February 9, 2012, of an agreement with state
attorneys and federal agencies regarding mortgage servicing,
foreclosures and origination issues.
130