Wells Fargo 2011 Annual Report Download - page 208

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Note 18: Preferred Stock
We are authorized to issue 20 million shares of preferred stock
and 4 million shares of preference stock, both without par value.
Preferred shares outstanding rank senior to common shares
both as to dividends and liquidation preference but have no
general voting rights. We have not issued any preference shares
under this authorization. If issued, preference shares would be
limited to one vote per share. Our total issued and outstanding
preferred stock includes Dividend Equalization Preferred (DEP)
shares and Series I, J, K and L, which are presented in the
following two tables, and Employee Stock Ownership Plan
(ESOP) Cumulative Convertible Preferred Stock, which is
presented in the table on the following page.
December 31,
2011
2010
Liquidation
Shares
Liquidation
Shares
preference
authorized
preference
authorized
per share
and designated
per share
and designated
DEP Shares
Dividend Equalization Preferred Shares
$
10
97,000
$
10
97,000
Series A
Non-Cumulative Perpetual Preferred Stock
-
-
100,000
25,001
Series B
Non-Cumulative Perpetual Preferred Stock
-
-
100,000
17,501
Series G
7.25% Class A Preferred Stock
15,000
50,000
15,000
50,000
Series H
Floating Class A Preferred Stock
20,000
50,000
20,000
50,000
Series I
5.80% Fixed to Floating Class A Preferred Stock
100,000
25,010
100,000
25,010
Series J
8.00% Non-Cumulative Perpetual Class A Preferred Stock
1,000
2,300,000
1,000
2,300,000
Series K
7.98% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock
1,000
3,500,000
1,000
3,500,000
Series L
7.50% Non-Cumulative Perpetual Convertible Class A Preferred Stock
1,000
4,025,000
1,000
4,025,000
Total
10,047,010
10,089,512
December 31, 2011
December 31, 2010
Shares
Shares
issued and
Carrying
issued and
Carrying
(in millions, except shares)
outstanding
Par value
value
Discount
outstanding
Par value
value
Discount
DEP Shares
Dividend Equalization Preferred Shares
96,546
$
-
-
-
96,546
$
-
-
-
Series I (1)
5.80% Fixed to Floating Class A Preferred Stock
25,010
2,501
2,501
-
-
-
-
-
Series J (1)
8.00% Non-Cumulative Perpetual Class A
Preferred Stock
2,150,375
2,150
1,995
155
2,150,375
2,150
1,995
155
Series K (1)
7.98% Fixed-to-Floating Non-Cumulative
Perpetual Class A Preferred Stock
3,352,000
3,352
2,876
476
3,352,000
3,352
2,876
476
Series L (1)
7.50% Non-Cumulative Perpetual
Convertible Class A Preferred Stock
3,968,000
3,968
3,200
768
3,968,000
3,968
3,200
768
Total
9,591,931
$
11,971
10,572
1,399
9,566,921
$
9,470
8,071
1,399
(1) Preferred shares qualify as Tier 1 capital.
206