Long-term Debt

12 Months Ended

Dec. 31, 2011

Long-term Debt, by Current and Noncurrent [Abstract]

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 16 for further information on qualifying hedge contracts.

Following is a summary of our long-term debt, reflecting unamortized debt discounts and premiums, and purchase accounting adjustments for debt assumed in the Wachovia acquisition, where applicable:



						December 31,
						2011	2010
			Maturity	Stated
(in millions)			date(s)	interest rate(s)
Wells Fargo & Company (Parent only)
Senior
Fixed-rate notes (1)			2012-2035	2.125-6.75%	$	38,002	40,630
Floating-rate notes (1)			2012-2048	Varies		17,872	26,750
Market-linked notes and other (2)			2012-2041	Varies		1,359	545
	Total senior debt - Parent					57,233	67,925
Subordinated
Fixed-rate notes			2012-2035	4.375-7.574%		12,041	12,370
Floating-rate notes			2015-2016	Varies		1,141	1,118
	Total subordinated debt - Parent					13,182	13,488
Junior subordinated
Fixed-rate notes - hybrid trust securities			2029-2068	5.625-7.95%		6,951	11,257
Floating-rate notes			2027	Varies		247	289
FixFloat notes - income trust securities						-	6,786
	Total junior subordinated debt - Parent (3)					7,198	18,332
		Total long-term debt - Parent				77,613	99,745
Wells Fargo Bank, N.A. and other bank entities (Bank)
Senior
Fixed-rate notes			2013	6.00%		1,326	2,185
Floating-rate notes			2038-2040	Varies		72	4,186
Fixed-rate advances - Federal Home Loan Bank (FHLB)			2012-2031	2.30 - 8.45%		500	812
Floating-rate advances - FHLB			2012-2013	Varies		2,101	7,103
Market-linked notes and other (2)			2012-2016	Varies		238	229
Capital leases (Note 7)			2012-2025	Varies		116	26
	Total senior debt - Bank					4,353	14,541
Subordinated
Fixed-rate notes			2013-2038	4.75-7.74%		15,882	16,520
Floating-rate notes			2014-2017	Varies		1,976	1,945
	Total subordinated debt - Bank					17,858	18,465
Junior subordinated
Fixed-rate notes						-	317
Floating-rate notes			2027	Varies		286	278
	Total junior subordinated debt - Bank (3)					286	595
Long-term debt issued by VIE - Fixed rate			2014-2038	0.00-7.00%		2,103	3,751
Long-term debt issued by VIE - Floating rate			2014-2050	Varies		2,748	4,053
Mortgage notes and other debt			2012-2056	Varies		14,854	8,639
		Total long-term debt - Bank				42,202	50,044

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							December 31,
							2011	2010
				Maturity	Stated
(in millions)				date(s)	interest rate(s)
Other consolidated subsidiaries
Senior
Fixed-rate notes				2012-2016	3.70-6.125%		5,154	6,147
FixFloat notes				2020	6.795% through 2015, varies		20	20
	Total senior debt - Other consolidated subsidiaries						5,174	6,167
Junior subordinated
Fixed-rate notes							-	10
Floating-rate notes				2027	0.928%		155	239
FixFloat notes							-	78
	Total junior subordinated debt - Other
		consolidated subsidiaries (3)					155	327
Long-term debt issued by VIE - Fixed rate				2012-2020	5.16-6.88%		81	84
Long-term debt issued by VIE - Floating rate							-	489
Mortgage notes and other debt of subsidiaries				2013-2018	Varies		129	127
		Total long-term debt - Other consolidated subsidiaries					5,539	7,194
			Total long-term debt			$	125,354	156,983

On March 30, 2009, Wells Fargo issued $1.75 billion of 2.125% fixed senior unsecured notes and $1.75 billion of floating senior unsecured notes both maturing on June 15, 2012. These notes are guaranteed under the Federal Deposit Insurance Corporation's (FDIC) Temporary Liquidity Guarantee Program (TLGP) and are backed by the full faith and credit of the United States.
Primarily consists of long-term notes where the performance of the note is linked to an embedded equity, commodity, or currency index, or basket of indices accounted for separately from the note as a free-standing derivative. For information on embedded derivatives, see Note 16 – Free-standing derivatives.
Represents junior subordinated debentures held by unconsolidated wholly owned trusts formed for the sole purpose of issuing trust preferred securities. See Note 8 for additional information on our trust preferred security structures.

We participated in the FDIC's Temporary Liquidity Guarantee Program (TLGP). The TLGP had two components: the Debt Guarantee Program, which provided a temporary guarantee of newly issued senior unsecured debt issued by eligible entities; and the Transaction Account Guarantee Program, which provided a temporary unlimited guarantee of funds in noninterest-bearing transaction accounts at FDIC-insured institutions. We opted out of the TLGP effective January 1, 2010.

The aggregate annual maturities of long-term debt obligations (based on final maturity dates) as of December 31, 2011, are presented in the following table.



(in millions)			Parent	Company
2012		$	15,443	18,605
2013			10,023	14,290
2014			7,791	10,790
2015			3,753	8,949
2016			13,302	17,740
Thereafter			27,301	54,980
	Total	$	77,613	125,354

The interest rates on floating-rate notes are determined periodically by formulas based on certain money market rates, subject, on certain notes, to minimum or maximum interest rates.

As part of our long-term and short-term borrowing arrangements, we are subject to various financial and operational covenants. Some of the agreements under which debt has been issued have provisions that may limit the merger or sale of certain subsidiary banks and the issuance of capital stock or convertible securities by certain subsidiary banks. At December 31, 2011, we were in compliance with all the covenants.