Wells Fargo 2011 Annual Report Download - page 140
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Note 5: Securities Available for Sale (continued)
Realized Gains and Losses
The following table shows the gross realized gains and losses on
sales and OTTI write-downs related to the securities available-
for-sale portfolio, which includes marketable equity securities, as
well as net realized gains and losses on nonmarketable equity
securities (see Note 7 – Other Assets).
Year ended December 31,
(in millions)
2011
2010
2009
Gross realized gains
$
1,305
645
1,601
Gross realized losses
(70)
(32)
(160)
OTTI write-downs
(541)
(692)
(1,094)
Net realized gains (losses) from
securities available for sale
694
(79)
347
Net realized gains (losses) from principal
and private equity investments
842
534
(289)
Net realized gains from
debt securities and
equity investments
$
1,536
455
58
Other-Than-Temporary Impairment
The following table shows the detail of total OTTI write-downs
included in earnings for debt securities and marketable and
nonmarketable equity securities.
Year ended December 31,
(in millions)
2011
2010
2009
OTTI write-downs included in earnings
Debt securities:
U.S. states and political subdivisions
$
2
16
7
Mortgage-backed securities:
Federal agencies (1)
-
267
-
Residential
252
175
595
Commercial
101
120
137
Corporate debt securities
3
10
69
Collateralized debt obligations
1
15
125
Other debt securities
64
69
79
Total debt securities
423
672
1,012
Equity securities:
Marketable equity securities:
Perpetual preferred securities
96
15
50
Other marketable equity securities
22
5
32
Total marketable equity securities
118
20
82
Total securities available for sale
541
692
1,094
Nonmarketable equity securities
170
248
573
Total OTTI write-downs included in earnings
$
711
940
1,667
(1) For the year ended December 31, 2010, amount represents OTTI recognized on federal agency MBS because we had the intent to sell, of which $252 million related to
securities with a fair value of $14.5 billion that were sold subsequent to December 31, 2010.
138