Wells Fargo 2014 Annual Report Download - page 55

Table 15 summarizes these contractual obligations as of obligations is in Note 12 (Short-Term Borrowings) and Note 20
December 31, 2014, excluding the projected cash payments for (Employee Benefits and Other Expenses) to Financial
obligations for short-term borrowing arrangements and pension Statements in this Report.
and postretirement benefit plans. More information on those
Table 15: Contractual Cash Obligations
Note(s) to More
Financial Less than 1-3 3-5 than Indeterminate
(in millions) Statements 1 year years years 5 years maturity Total
Contractual payments by period:
Deposits (1) 11 $ 103,409 13,275 4,411 3,785 1,043,430 1,168,310
Long-term debt (2) 7, 13 16,606 50,790 52,219 64,328 — 183,943
Interest (3) 2,455 3,568 2,394 10,063 — 18,480
Operating leases 7 1,148 1,937 1,449 2,521 — 7,055
Unrecognized tax obligations 21 50 — — — 2,932 2,982
Commitments to purchase debt
and equity securities (4) 1,300 2 — — — 1,302
Purchase and other obligations (5) 493 461 83 10 — 1,047
Total contractual obligations $ 125,461 70,033 60,556 80,707 1,046,362 1,383,119
(1) Includes interest-bearing and noninterest-bearing checking, and market rate and other savings accounts.
(2) Balances are presented net of unamortized debt discounts and premiums and purchase accounting adjustments.
(3) Represents the future interest obligations related to interest-bearing time deposits and long-term debt in the normal course of business including a net reduction of
$27 billion related to hedges used to manage interest rate risk. These interest obligations assume no early debt redemption. We estimated variable interest rate payments
using December 31, 2014, rates, which we held constant until maturity. We have excluded interest related to structured notes where our payment obligation is contingent
on the performance of certain benchmarks.
(4) Includes unfunded commitments to purchase debt and equity investments, excluding trade date payables, of $1.1 billion and $197 million, respectively. Our unfunded
equity commitments include certain investments subject to the Volcker Rule, which we expect to divest in the near future. For additional information regarding the Volcker
Rule, see the "Regulatory Reform" section in this Report. We have presented our contractual obligations on equity investments above in the maturing in less than one year
category as there are no specified contribution dates in the agreements. These obligations may be requested at any time by the investment manager.
(5) Represents agreements to purchase goods or services.
We are subject to the income tax laws of the U.S., its states Transactions with Related Parties
and municipalities, and those of the foreign jurisdictions in The Related Party Disclosures topic of the Accounting Standards
which we operate. We have various unrecognized tax obligations Codification (ASC) requires disclosure of material related party
related to these operations that may require future cash tax transactions, other than compensation arrangements, expense
payments to various taxing authorities. Because of their allowances and other similar items in the ordinary course of
uncertain nature, the expected timing and amounts of these business. We had no related party transactions required to be
payments generally are not reasonably estimable or reported for the years ended December 31, 2014, 2013 and 2012.
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 21 (Income Taxes) to Financial
Statements in this Report for more information.
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