Wells Fargo 2015 Annual Report Download - page 253

Other – insurance contracts that are generally stated at cash
surrender value. This group of assets also includes investments
in collective investment funds and private equity described
above.
The methods described above may produce a fair value
calculation that may not be indicative of net realizable value or
reflective of future fair values. While we believe our valuation
methods are appropriate and consistent with other market
participants, the use of different methodologies or assumptions
to determine the fair value of certain financial instruments could
result in a different fair value measurement at the reporting
date.
Defined Contribution Retirement Plans
We sponsor a defined contribution retirement plan named the
Wells Fargo & Company 401(k) Plan (401(k) Plan). Under the
401(k) Plan, after one month of service, eligible employees may
contribute up to 50% of their certified compensation, subject to
statutory limits. Eligible employees who complete 1 year of
service are eligible for company matching contributions, which
are generally dollar for dollar up to 6% of an employee's eligible
certified compensation. Matching contributions are 100%
vested. The 401(k) Plan includes an employer discretionary
profit sharing contribution feature to allow us to make a
contribution to eligible employees’ 401(k) Plan accounts. Eligible
employees who complete 1 year of service are eligible for profit
sharing contributions. Profit sharing contributions are vested
after 3 years of service. Total defined contribution retirement
plan expenses were $1.1 billion in both 2015 and 2014 and
$1.2 billion in 2013.
Other Expenses
Table 20.10 presents expenses exceeding 1% of total interest
income and noninterest income in any of the years presented
that are not otherwise shown separately in the financial
statements or Notes to Financial Statements.
Table 20.10: Other Expenses
Year ended December 31,
(in millions) 2015 2014 2013
Outside professional services
Operating losses
Outside data processing
Contract services
$ 2,665
1,871
985
978
2,689
1,249
1,034
975
2,519
821
983
935
Travel and entertainment 692 904 885
Wells Fargo & Company
251