Wells Fargo 2010 Annual Report Download - page 165
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As a part of our overall interest rate risk management strategy,
we often use derivatives to manage interest rate risk. As a result,
much of the long-term debt presented below is hedged in a fair
value or cash flow hedge relationship. See Note 15 for further
information on qualifying hedge contracts.
Note 13: Long-Term Debt
Following is a summary of our long-term debt based on
original maturity (reflecting unamortized debt discounts and
premiums, and purchase accounting adjustments for debt
assumed in the Wachovia acquisition, where applicable):
December 31,
2010
2009
(1)
Maturity
Stated
(in millions) date(s)
interest rate(s)
Wells Fargo & Company (Parent only)
Senior
Fixed-rate notes (2) 2011-2035
2.125-6.75%
$
40,630
46,266
Floating-rate notes (2) 2011-2048
Varies
26,750
41,231
Market-linked notes (3) 2011-2018
Varies
545
458
Total senior debt - Parent
67,925
87,955
Subordinated
Fixed-rate notes 2011-2035
4.375-7.574%
12,370
12,148
Floating-rate notes 2015-2016
Varies
1,118
1,096
Total subordinated debt - Parent
13,488
13,244
Junior subordinated
Fixed-rate notes - hybrid trust securities 2026-2068
5.625-10.18%
11,257
11,086
Floating-rate notes 2027-2036
Varies
289
282
FixFloat notes - income trust securities (4) 2042-2044
5.20-9.75% to 2011-
2013,
varies
6,786
6,786
Total junior subordinated debt - Parent (5)
18,332
18,154
Total long-term debt - Parent
99,745
119,353
Wells Fargo Bank, N.A. and other bank entities (Bank)
Senior
Fixed-rate notes 2011-2013
3.37-6.00%
2,185
2,609
Floating-rate notes 2011-2040
Varies
4,186
8,323
Fixed-rate advances - Federal Home Loan Bank (FHLB) 2011-2031
1.60-8.45%
812
2,665
Floating-rate advances - FHLB 2011-2013
Varies
7,103
31,146
Market-linked notes (3) 2011-2016
Varies
229
515
Capital leases (Note 7) 2011-2024
Varies
26
77
Total senior debt - Bank
14,541
45,335
Subordinated
Fixed-rate notes 2011-2038
4.75-7.74%
16,520
18,220
Floating-rate notes 2014-2017
Varies
1,945
1,937
Total subordinated debt - Bank
18,465
20,157
Junior subordinated
Fixed-rate notes 2026
8.00%
317
318
Floating-rate notes 2027
Varies
278
270
Total junior subordinated debt - Bank (5)
595
588
Long-term debt issued by VIE - Fixed rate 2012-2049
0.05-7.50%
3,751
105
Long-term debt issued by VIE - Floating rate 2012-2042
Varies
4,053
70
Mortgage notes and other debt 2011-2038
Varies
8,639
8,216
Total long-term debt - Bank
50,044
74,471
(continued on following page)
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