The Supplemental Information

EX-99.D 5 dex99d.htm THE SUPPLEMENTAL INFORMATION The Supplemental Information

Exhibit (99)(d)

The Supplemental Information contained in Exhibit (99)(d) shows certain historical data for each of Wachovia and Golden West and also shows similar combined illustrative information reflecting the merger of Golden West with and into Wachovia. The historical financial data show the financial results actually achieved by Wachovia and by Golden West for the periods indicated. The combined illustrative information shows the illustrative effect of the merger under the purchase accounting method of accounting hypothetically assuming the merger was consummated as of the applicable prior period, instead of October 1, 2006, the actual merger consummation date. In the case of the combined illustrative information for the full year ended December 31, 2006, the standalone Golden West information represents the period from January 1, 2006 to September 30, 2006.

The combined illustrative information is not prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), although both the historical Wachovia and the historical Golden West financial information presented in Exhibit (99)(d) were respectively prepared in accordance with GAAP. Wachovia believes the combined illustrative information is useful to investors in understanding how financial information of Wachovia and Golden West may have appeared on a combined basis had the two companies actually been merged as of the dates indicated and how the financial information of the business segments and a certain sub-segment of the new combined company may have appeared had the two companies actually been merged as of the dates indicated.

The combined illustrative information includes estimated adjustments to record certain assets and liabilities of Golden West at their respective fair values and to record certain exit costs related to Golden West. The estimated adjustments included in Exhibit (99)(d) are subject to updates as additional information becomes available and as additional analyses are performed. Certain other assets and liabilities of Golden West will also be subject to adjustment to their respective fair values, including additional intangible assets which may be identified. Pending more detailed analyses, no estimated adjustments are included in Exhibit (99)(d) for these assets and liabilities. Any change in the fair value of the net assets of Golden West will change the amount of the purchase price allocable to goodwill. In addition, the final adjustments may be materially different from the unaudited estimated adjustments presented in Exhibit (99)(d). The combined illustrative information cannot be reconciled to GAAP because many of the purchase accounting adjustments resulting from the merger are based upon valuations of assets as of the merger date and therefore cannot be ascertained for prior periods.

We anticipate the merger will provide Wachovia with financial benefits that include increased revenue and reduced operating expenses, but these financial benefits are not reflected in the combined illustrative information. Accordingly, the combined illustrative information does not attempt to predict or suggest future results. It also does not necessarily reflect what the historical results of the combined company would have been had our companies been combined during the periods presented.

The costs associated with merger integration activities that impact certain Golden West systems, facilities and equipment, personnel and contractual arrangements will be recorded as purchase accounting adjustments when the appropriate plans are in place with potential refinements up to one year after completion of the merger as additional information becomes available. We currently estimate exit cost purchase accounting adjustments will amount to $192 million ($117 million after tax). The costs associated with integrating systems and operations will be recorded as merger-related expenses based on the nature and timing of the related expenses, but generally will be recorded as the expenses are incurred. Restructuring expenses will be recorded based on the nature and timing of the expenses and generally will include merger integration activities that impact Wachovia systems, facilities and equipment, personnel and contractual arrangements. We currently expect merger-related and restructuring expenses will amount to $288 million ($176 million after tax) and will be incurred and reported through 2008.

The information in Exhibit (99)(d) is based on historical financial information and related notes that Wachovia and Golden West have respectively presented in prior filings with the Securities and Exchange Commission. Shareholders are encouraged to review that historical financial information and related notes in connection with the combined illustrative information provided in Exhibit (99)(d).

WACHOVIA CORPORATION AND SUBSIDIARIES

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION (Unaudited)

TABLE OF CONTENTS



Illustrative Combined Consolidated Balance Sheets

September 30, 2006		1

Illustrative Combined Consolidated Statements of Income

Year Ended December 31, 2006		2

Year Ended December 31, 2005		3

Nine Months Ended September 30, 2006		4

Six Months Ended June 30, 2006		5

Three Months Ended September 30, 2006		6

Three Months Ended June 30, 2006		7

Three Months Ended March 31, 2006		8

Three Months Ended December 31, 2005		9

Business Segments

Year Ended December 31, 2006		10

Year Ended December 31, 2005		11

Three Months Ended September 30, 2006		12

Three Months Ended June 30, 2006		13

Three Months Ended March 31, 2006		14

Three Months Ended December 31, 2005		15

General Bank - Retail and Small Business - Four Quarters Ended December 31, 2006		16

Illustrative Combined Earnings Reconciliation

Four Quarters Ended December 31, 2006		17

Notes to Supplemental Illustrative Combined Financial Information		18

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED CONSOLIDATED BALANCE SHEETS (Unaudited)



	September 30, 2006

(In millions)	Wachovia			Golden West		Combining Adjustments		Illustrative Combined
ASSETS
Cash and due from banks	$	11,850		460		-		12,310
Interest-bearing bank balances		5,270		290		-		5,560
Federal funds sold and securities purchased under resale agreements		18,497		1,499		-		19,996
Total cash and cash equivalents		35,617		2,249		-		37,866
Trading account assets		43,904		-		-		43,904
Securities available for sale		106,553		288		(23	)	106,818
Mortgage-backed securities held to maturity, at cost		-		-		-		-
Loans, net of unearned income		290,759		124,778		(804	)	414,733
Allowance for loan losses		(3,004	)	(303	)	-		(3,307	)
Loans, net		287,755		124,475		(804	)	411,426
Loans held for sale		9,039		193		-		9,232
Premises and equipment		5,536		413		106		6,055
Due from customers on acceptances		1,200		-		-		1,200
Goodwill		23,535		-		14,854		38,389
Other intangible assets		1,355		-		409		1,764
Other assets		45,428		2,715		(37	)	48,106
Total assets	$	559,922		130,333		14,505		704,760
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits
Noninterest-bearing deposits		63,880		377		-		64,257
Interest-bearing deposits		259,418		66,604		74		326,096
Total deposits		323,298		66,981		74		390,353
Short-term borrowings		58,749		4,450		-		63,199
Bank acceptances outstanding		1,213		-		-		1,213
Trading account liabilities		19,553		-		-		19,553
Other liabilities		16,513		1,091		(145	)	17,459
Long-term debt		86,419		48,092		5,811		140,322
Total liabilities		505,745		120,614		5,740		632,099
Minority interest in net assets of consolidated subsidiaries		2,997		-		-		2,997
STOCKHOLDERS’ EQUITY
Dividend Equalization Preferred shares		-		-		-		-
Non-Cumulative Perpetual Class A Preferred Stock		-		-		-		-
Common stock		5,271		31		1,054		6,356
Paid-in capital		34,276		417		16,982		51,675
Retained earnings		12,696		9,270		(9,270	)	12,696
Accumulated other comprehensive income, net		(1,063	)	1		(1	)	(1,063	)
Total stockholders’ equity		51,180		9,719		8,765		69,664
Total liabilities and stockholders’ equity	$	559,922		130,333		14,505		704,760

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)



	Year Ended December 31, 2006

(In millions, except per share data)	Wachovia		Golden West		Combining Adjustments		Illustrative Combined
INTEREST INCOME
Interest and fees on loans	$	21,976	6,760		204		28,940
Interest and dividends on securities		6,433	69		8		6,510
Trading account interest		1,575	-		-		1,575
Other interest income		2,281	(311	)	-		1,970
Total interest income		32,265	6,518		212		38,995
INTEREST EXPENSE
Interest on deposits		9,119	1,772		(53	)	10,838
Interest on short-term borrowings		3,114	216		-		3,330
Interest on long-term debt		4,783	1,850		234		6,867
Total interest expense		17,016	3,838		181		21,035
Net interest income		15,249	2,680		31		17,960
Provision for credit losses		434	7		-		441
Net interest income after provision for credit losses		14,815	2,673		31		17,519
FEE AND OTHER INCOME
Service charges		2,480	5		-		2,485
Other banking fees		1,756	58		-		1,814
Commissions		2,406	19		-		2,425
Fiduciary and asset management fees		3,248	-		-		3,248
Advisory, underwriting and other investment banking fees		1,345	-		-		1,345
Trading account profits		535	-		-		535
Principal investing		525	-		-		525
Securities gains (losses)		118	368		-		486
Other income		2,132	14		-		2,146
Total fee and other income		14,545	464		-		15,009
NONINTEREST EXPENSE					-
Salaries and employee benefits		10,903	593		-		11,496
Occupancy		1,173	60		-		1,233
Equipment		1,184	66		-		1,250
Advertising		204	18		-		222
Communications and supplies		653	41		-		694
Professional and consulting fees		790	22		-		812
Other intangible amortization		423	-		116		539
Merger-related and restructuring expenses		179	23		-		202
Sundry expense		1,967	422		-		2,389
Total noninterest expense		17,476	1,245		116		18,837
Minority interest in income of consolidated subsidiaries		414	-		-		414
Income from continuing operations before income taxes		11,470	1,892		(85	)	13,277
Income taxes		3,725	626		(33	)	4,318
Income from continuing operations	$	7,745	1,266		(52	)	8,959
PER COMMON SHARE DATA
Basic earnings from continuing operations	$	4.70	4.10		-		4.73
Diluted earnings from continuing operations		4.61	4.06		-		4.65
Cash dividends	$	2.14	-		-		2.14
AVERAGE COMMON SHARES
Basic		1,651	309		(66	)	1,894
Diluted		1,681	312		(66	)	1,927

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)



	Year Ended December 31, 2005

(In millions, except per share data)	Wachovia		Golden West		Combining Adjustments		Illustrative Combined
INTEREST INCOME
Interest and fees on loans	$	13,970	6,703		277		20,950
Interest and dividends on securities		5,783	103		12		5,898
Trading account interest		1,581	-		-		1,581
Other interest income		2,355	(262	)	-		2,093
Total interest income		23,689	6,544		289		30,522
INTEREST EXPENSE
Interest on deposits		5,297	1,551		(79	)	6,769
Interest on short-term borrowings		2,777	162		-		2,939
Interest on long-term debt		1,934	1,550		312		3,796
Total interest expense		10,008	3,263		233		13,504
Net interest income		13,681	3,281		56		17,018
Provision for credit losses		249	7		-		256
Net interest income after provision for credit losses		13,432	3,274		56		16,762
FEE AND OTHER INCOME
Service charges		2,151	7		-		2,158
Other banking fees		1,491	51		-		1,542
Commissions		2,343	28		-		2,371
Fiduciary and asset management fees		3,011	1		-		3,012
Advisory, underwriting and other investment banking fees		1,109	-		-		1,109
Trading account profits		286	-		-		286
Principal investing		401	-		-		401
Securities gains (losses)		89	-		-		89
Other income		1,338	24		-		1,362
Total fee and other income		12,219	111		-		12,330
NONINTEREST EXPENSE
Salaries and employee benefits		9,671	652		-		10,323
Occupancy		1,064	73		1		1,138
Equipment		1,087	79		-		1,166
Advertising		193	23		-		216
Communications and supplies		633	45		-		678
Professional and consulting fees		662	25		-		687
Other intangible amortization		416	-		175		591
Merger-related and restructuring expenses		292	-		-		292
Sundry expense		1,829	61		-		1,890
Total noninterest expense		15,847	958		176		16,981
Minority interest in income of consolidated subsidiaries		342	-		-		342
Income from continuing operations before income taxes		9,462	2,427		(120	)	11,769
Income taxes		3,033	941		(47	)	3,927
Income from continuing operations before income taxes	$	6,429	1,486		(73	)	7,842
PER COMMON SHARE DATA
Basic earnings from continuing operations	$	4.13	4.83		-		4.17
Diluted earnings from continuing operations		4.05	4.77		-		4.10
Cash dividends	$	1.94	-		-		1.94
AVERAGE COMMON SHARES
Basic		1,556	307		16		1,879
Diluted		1,585	312		16		1,913

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)



	Nine Months Ended September 30, 2006

(In millions, except per share data)	Wachovia		Golden West		Combining Adjustments		Illustrative Combined
INTEREST INCOME
Interest and fees on loans	$	14,240	6,760		204		21,204
Interest and dividends on securities		4,942	69		8		5,019
Trading account interest		1,113	-		-		1,113
Other interest income		1,600	(311	)	-		1,289
Total interest income		21,895	6,518		212		28,625
INTEREST EXPENSE
Interest on deposits		6,052	1,772		(53	)	7,771
Interest on short-term borrowings		2,333	216		-		2,549
Interest on long-term debt		2,838	1,850		234		4,922
Total interest expense		11,223	3,838		181		15,242
Net interest income		10,672	2,680		31		13,383
Provision for credit losses		228	7		-		235
Net interest income after provision for credit losses		10,444	2,673		31		13,148
FEE AND OTHER INCOME
Service charges		1,834	5		-		1,839
Other banking fees		1,304	58		-		1,362
Commissions		1,773	19		-		1,792
Fiduciary and asset management fees		2,392	-		-		2,392
Advisory, underwriting and other investment banking fees		912	-		-		912
Trading account profits		506	-		-		506
Principal investing		383	-		-		383
Securities gains (losses)		71	368		-		439
Other income		1,390	14		-		1,404
Total fee and other income		10,565	464		-		11,029
NONINTEREST EXPENSE
Salaries and employee benefits		7,880	593		-		8,473
Occupancy		850	60		-		910
Equipment		870	66		-		936
Advertising		157	18		-		175
Communications and supplies		487	41		-		528
Professional and consulting fees		551	22		-		573
Other intangible amortization		282	-		116		398
Merger-related and restructuring expenses		130	23		-		153
Sundry expense		1,338	422		-		1,760
Total noninterest expense		12,545	1,245		116		13,906
Minority interest in income of consolidated subsidiaries		289	-		-		289
Income before income taxes		8,175	1,892		(85	)	9,982
Income taxes		2,685	626		(33	)	3,278
Net income	$	5,490	1,266		(52	)	6,704
PER COMMON SHARE DATA
Basic earnings	$	3.49	4.10		-		3.54
Diluted earnings		3.43	4.06		-		3.48
Cash dividends	$	1.58	-		-		1.58
AVERAGE COMMON SHARES
Basic		1,571	309		16		1,896
Diluted		1,600	312		16		1,928

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)



	Six Months Ended June 30, 2006

(In millions, except per share data)	Wachovia			Golden West		Combining Adjustments		Illustrative Combined
INTEREST INCOME
Interest and fees on loans	$	9,144		4,341		136		13,621
Interest and dividends on securities		3,250		50		6		3,306
Trading account interest		712		-		-		712
Other interest income		1,005		(192	)	-		813
Total interest income		14,111		4,199		142		18,452
INTEREST EXPENSE
Interest on deposits		3,814		1,085		(36	)	4,863
Interest on short-term borrowings		1,473		145		-		1,618
Interest on long-term debt		1,693		1,181		156		3,030
Total interest expense		6,980		2,411		120		9,511
Net interest income		7,131		1,788		22		8,941
Provision for credit losses		120		6		-		126
Net interest income after provision for credit losses		7,011		1,782		22		8,815
FEE AND OTHER INCOME
Service charges		1,196		3		-		1,199
Other banking fees		877		36		-		913
Commissions		1,211		13		-		1,224
Fiduciary and asset management fees		1,569		-		-		1,569
Advisory, underwriting and other investment banking fees		620		-		-		620
Trading account profits		383		-		-		383
Principal investing		292		-		-		292
Securities gains (losses)		(23	)	-		-		(23	)
Other income		975		11		-		986
Total fee and other income		7,100		63		-		7,163
NONINTEREST EXPENSE
Salaries and employee benefits		5,349		387		-		5,736
Occupancy		566		40		-		606
Equipment		579		44		-		623
Advertising		103		12		-		115
Communications and supplies		329		26		-		355
Professional and consulting fees		351		14		-		365
Other intangible amortization		190		-		78		268
Merger-related and restructuring expenses		92		-		-		92
Sundry expense		941		34		-		975
Total noninterest expense		8,500		557		78		9,135
Minority interest in income of consolidated subsidiaries		185		-		-		185
Income before income taxes		5,426		1,288		(56	)	6,658
Income taxes		1,813		507		(22	)	2,298
Net income	$	3,613		781		(34	)	4,360
PER COMMON SHARE DATA
Basic earnings	$	2.30		2.53		-		2.30
Diluted earnings		2.26		2.50		-		2.26
Cash dividends	$	1.02		-		-		1.02
AVERAGE COMMON SHARES
Basic		1,570		309		16		1,895
Diluted		1,599		312		16		1,927

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)



	Three Months Ended September 30, 2006

(In millions, except per share data)	Wachovia		Golden West		Combining Adjustments		Illustrative Combined
INTEREST INCOME
Interest and fees on loans	$	5,096	2,419		68		7,583
Interest and dividends on securities		1,692	19		2		1,713
Trading account interest		401	-		-		401
Other interest income		595	(119	)	-		476
Total interest income		7,784	2,319		70		10,173
INTEREST EXPENSE
Interest on deposits		2,238	687		(17	)	2,908
Interest on short-term borrowings		860	71		-		931
Interest on long-term debt		1,145	669		78		1,892
Total interest expense		4,243	1,427		61		5,731
Net interest income		3,541	892		9		4,442
Provision for credit losses		108	1		-		109
Net interest income after provision for credit losses		3,433	891		9		4,333
FEE AND OTHER INCOME
Service charges		638	2		-		640
Other banking fees		427	22		-		449
Commissions		562	6		-		568
Fiduciary and asset management fees		823	-		-		823
Advisory, underwriting and other investment banking fees		292	-		-		292
Trading account profits		123	-		-		123
Principal investing		91	-		-		91
Securities gains (losses)		94	368		-		462
Other income		415	3		-		418
Total fee and other income		3,465	401		-		3,866
NONINTEREST EXPENSE
Salaries and employee benefits		2,531	206		-		2,737
Occupancy		284	20		-		304
Equipment		291	22		-		313
Advertising		54	6		-		60
Communications and supplies		158	15		-		173
Professional and consulting fees		200	8		-		208
Other intangible amortization		92	-		38		130
Merger-related and restructuring expenses		38	23		-		61
Sundry expense		397	388		-		785
Total noninterest expense		4,045	688		38		4,771
Minority interest in income of consolidated subsidiaries		104	-		-		104
Income before income taxes		2,749	604		(29	)	3,324
Income taxes		872	119		(11	)	980
Net income	$	1,877	485		(18	)	2,344
PER COMMON SHARE DATA
Basic earnings	$	1.19	1.57		-		1.23
Diluted earnings		1.17	1.55		-		1.22
Cash dividends	$	0.56	-		-		0.56
AVERAGE COMMON SHARES
Basic		1,573	309		16		1,898
Diluted		1,600	313		16		1,929

See Notes to Supplemental Illustrative Combined Financial Information.


WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION ILLUSTRATIVE COMBINED CONSOLIDATED STATEMENTS OF INCOME *(Unaudited)*

	Three Months Ended June 30, 2006

(In millions, except per share data)	Wachovia		Golden West		Combining Adjustments		Illustrative Combined
INTEREST INCOME
Interest and fees on loans	$	4,823	2,257		68		7,148
Interest and dividends on securities		1,685	26		3		1,714
Trading account interest		387	-		-		387
Other interest income		509	(110	)	-		399
Total interest income		7,404	2,173		71		9,648
INTEREST EXPENSE
Interest on deposits		2,035	573		(18	)	2,590
Interest on short-term borrowings		755	78		-		833
Interest on long-term debt		973	625		78		1,676
Total interest expense		3,763	1,276		60		5,099
Net interest income		3,641	897		11		4,549
Provision for credit losses		59	2		-		61
Net interest income after provision for credit losses		3,582	895		11		4,488
FEE AND OTHER INCOME
Service charges		622	1		-		623
Other banking fees		449	21		-		470
Commissions		588	6		-		594
Fiduciary and asset management fees		808	-		-		808
Advisory, underwriting and other investment banking fees		318	-		-		318
Trading account profits		164	-		-		164
Principal investing		189	-		-		189
Securities gains (losses)		25	-		-		25
Other income		420	7		-		427
Total fee and other income		3,583	35		-		3,618
NONINTEREST EXPENSE
Salaries and employee benefits		2,652	195		-		2,847
Occupancy		291	21		-		312
Equipment		299	24		-		323
Advertising		56	7		-		63
Communications and supplies		162	13		-		175
Professional and consulting fees		184	7		-		191
Other intangible amortization		98	-		39		137
Merger-related and restructuring expenses		24	-		-		24
Sundry expense		495	19		-		514
Total noninterest expense		4,261	286		39		4,586
Minority interest in income of consolidated subsidiaries		90	-		-		90
Income before income taxes		2,814	644		(28	)	3,430
Income taxes		929	254		(11	)	1,172
Net income	$	1,885	390		(17	)	2,258
PER COMMON SHARE DATA
Basic earnings	$	1.19	1.26		-		1.18
Diluted earnings		1.17	1.25		-		1.16
Cash dividends	$	0.51	-		-		0.51
AVERAGE COMMON SHARES
Basic		1,585	309		16		1,910
Diluted		1,613	312		16		1,941

See Notes to Supplemental Illustrative Combined Financial Information.


WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION ILLUSTRATIVE COMBINED CONSOLIDATED STATEMENTS OF INCOME *(Unaudited)*

	Three Months Ended March 31, 2006

(In millions, except per share data)	Wachovia			Golden West		Combining Adjustments		Illustrative Combined
INTEREST INCOME
Interest and fees on loans	$	4,321		2,084		68		6,473
Interest and dividends on securities		1,565		24		3		1,592
Trading account interest		325		-		-		325
Other interest income		496		(82	)	-		414
Total interest income		6,707		2,026		71		8,804
INTEREST EXPENSE
Interest on deposits		1,779		512		(18	)	2,273
Interest on short-term borrowings		718		67		-		785
Interest on long-term debt		720		556		78		1,354
Total interest expense		3,217		1,135		60		4,412
Net interest income		3,490		891		11		4,392
Provision for credit losses		61		4		-		65
Net interest income after provision for credit losses		3,429		887		11		4,327
FEE AND OTHER INCOME
Service charges		574		2		-		576
Other banking fees		428		15		-		443
Commissions		623		7		-		630
Fiduciary and asset management fees		761		-		-		761
Advisory, underwriting and other investment banking fees		302		-		-		302
Trading account profits		219		-		-		219
Principal investing		103		-		-		103
Securities gains (losses)		(48	)	-		-		(48	)
Other income		555		4		-		559
Total fee and other income		3,517		28		-		3,545
NONINTEREST EXPENSE
Salaries and employee benefits		2,697		192		-		2,889
Occupancy		275		19		-		294
Equipment		280		20		-		300
Advertising		47		5		-		52
Communications and supplies		167		13		-		180
Professional and consulting fees		167		7		-		174
Other intangible amortization		92		-		39		131
Merger-related and restructuring expenses		68		-		-		68
Sundry expense		446		15		-		461
Total noninterest expense		4,239		271		39		4,549
Minority interest in income of consolidated subsidiaries		95		-		-		95
Income before income taxes		2,612		644		(28	)	3,228
Income taxes		884		253		(11	)	1,126
Net income	$	1,728		391		(17	)	2,102
PER COMMON SHARE DATA
Basic earnings	$	1.11		1.27		-		1.12
Diluted earnings		1.09		1.25		-		1.10
Cash dividends	$	0.51		-		-		0.51
AVERAGE COMMON SHARES
Basic		1,555		308		16		1,879
Diluted		1,586		312		16		1,914

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)



	Three Months Ended December 31, 2005

(In millions, except per share data)	Wachovia			Golden West		Combining Adjustments		Illustrative Combined
INTEREST INCOME
Interest and fees on loans	$	3,846		1,940		73		5,859
Interest and dividends on securities		1,486		25		4		1,515
Trading account interest		462		-		-		462
Other interest income		696		(69	)	-		627
Total interest income		6,490		1,896		77		8,463
INTEREST EXPENSE
Interest on deposits		1,618		466		(26	)	2,058
Interest on short-term borrowings		764		57		-		821
Interest on long-term debt		585		506		78		1,169
Total interest expense		2,967		1,029		52		4,048
Net interest income		3,523		867		25		4,415
Provision for credit losses		81		2		-		83
Net interest income after provision for credit losses		3,442		865		25		4,332
FEE AND OTHER INCOME
Service charges		555		2		-		557
Other banking fees		400		12		-		412
Commissions		573		7		-		580
Fiduciary and asset management fees		790		1		-		791
Advisory, underwriting and other investment banking fees		325		-		-		325
Trading account profits		(31	)	-		-		(31	)
Principal investing		135		-		-		135
Securities gains (losses)		(74	)	-		-		(74	)
Other income		316		11		-		327
Total fee and other income		2,989		33		-		3,022
NONINTEREST EXPENSE
Salaries and employee benefits		2,470		177		-		2,647
Occupancy		283		19		1		303
Equipment		277		19		-		296
Advertising		51		8		-		59
Communications and supplies		155		12		-		167
Professional and consulting fees		213		7		-		220
Other intangible amortization		93		-		59		152
Merger-related and restructuring expenses		58		-		-		58
Sundry expense		583		19		-		602
Total noninterest expense		4,183		261		60		4,504
Minority interest in income of consolidated subsidiaries		103		-		-		103
Income from continuing operations before income taxes		2,145		637		(35	)	2,747
Income taxes		652		242		(14	)	880
Income from continuing operations before income taxes	$	1,493		395		(21	)	1,867
PER COMMON SHARE DATA
Basic earnings	$	0.97		1.29		-		1.00
Diluted earnings		0.95		1.27		-		0.98
Cash dividends	$	0.51		-		-		0.51
AVERAGE COMMON SHARES
Basic		1,541		307		16		1,864
Diluted		1,570		311		16		1,897

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

BUSINESS SEGMENTS (Unaudited) (As reported)



	Year Ended December 31, 2006

(Dollars in millions)	General Bank			Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses		Total
CONSOLIDATED
Net interest income	$	11,922		602	2,037		1,013		(170	)	(155	)	15,249
Fee and other income		3,580		779	4,799		5,041		346		-		14,545
Intersegment revenue		198		6	(179	)	(32	)	7		-		-
Total revenue		15,700		1,387	6,657		6,022		183		(155	)	29,794
Provision for credit losses		428		2	(32	)	-		36		-		434
Noninterest expense		7,117		964	3,547		4,555		1,114		179		17,476
Minority interest		-		-	-		-		412		2		414
Income taxes (benefits)		2,934		154	1,109		535		(941	)	(66	)	3,725
Tax-equivalent adjustment		42		-	51		1		61		(155	)	-
Income (loss) from continuing operations	$	5,179		267	1,982		931		(499	)	(115	)	7,745
Cash overhead efficiency ratio		45.33	%	69.51	53.28		75.65		374.90		-		56.34
Average loans, net	$	223,445		16,205	44,906		711		22,455		-		307,722
Average core deposits	$	232,720		14,493	26,231		31,393		4,189		-		309,026

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED BUSINESS SEGMENTS (Unaudited)



	Year Ended December 31, 2006

(Dollars in millions)	General Bank			Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses		Illustrative Combined
CONSOLIDATED
Net interest income	$	14,756		602	2,037		1,014		(294	)	(155	)	17,960
Fee and other income		3,637		782	4,799		5,074		717		-		15,009
Intersegment revenue		198		6	(179	)	(32	)	7		-		-
Total revenue		18,591		1,390	6,657		6,056		430		(155	)	32,969
Provision for credit losses		428		2	(32	)	-		43		-		441
Noninterest expense		7,893		965	3,547		4,584		1,646		202		18,837
Minority interest		-		-	-		-		412		2		414
Income taxes (benefits)		3,706		154	1,109		536		(1,121	)	(66	)	4,318
Tax-equivalent adjustment		42		-	51		1		61		(155	)	-
Income (loss) from continuing operations	$	6,522		269	1,982		935		(611	)	(138	)	8,959
Cash overhead efficiency ratio		42.46	%	69.42	53.28		75.69		328.07		-		55.29
Average loans, net	$	314,510		16,205	44,906		711		21,904		-		398,236
Average core deposits	$	279,447		14,493	26,231		31,393		4,262		-		355,826

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

BUSINESS SEGMENTS (Unaudited) (As reported)



	Year Ended December 31, 2005

(Dollars in millions)	General Bank			Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses		Total
CONSOLIDATED
Net interest income	$	9,486		581	2,220		834		779		(219	)	13,681
Fee and other income		2,878		718	3,696		4,591		336		-		12,219
Intersegment revenue		194		6	(169	)	(34	)	3		-		-
Total revenue		12,558		1,305	5,747		5,391		1,118		(219	)	25,900
Provision for credit losses		277		6	(27	)	-		(7	)	-		249
Noninterest expense		6,296		908	3,037		4,293		1,021		292		15,847
Minority interest		-		-	-		-		367		(25	)	342
Income taxes (benefits)		2,154		143	919		402		(485	)	(100	)	3,033
Tax-equivalent adjustment		42		-	99		1		77		(219	)	-
Income (loss) from continuing operations	$	3,789		248	1,719		695		145		(167	)	6,429
Cash overhead efficiency ratio		50.13	%	69.56	52.85		79.64		54.08		-		57.96
Average loans, net	$	163,411		13,916	38,754		357		11,484		-		227,922
Average core deposits	$	201,711		13,605	23,607		34,659		5,139		-		278,721

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED BUSINESS SEGMENTS (Unaudited)



	Year Ended December 31, 2005

(Dollars in millions)	General Bank			Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses		Illustrative Combined
CONSOLIDATED
Net interest income	$	13,210		581	2,220		834		392		(219	)	17,018
Fee and other income		2,940		723	3,696		4,635		336		-		12,330
Intersegment revenue		194		6	(169	)	(34	)	3		-		-
Total revenue		16,344		1,310	5,747		5,435		731		(219	)	29,348
Provision for credit losses		277		6	(27	)	-		-		-		256
Noninterest expense		7,170		910	3,037		4,328		1,244		292		16,981
Minority interest		-		-	-		-		367		(25	)	342
Income taxes (benefits)		3,223		144	919		405		(664	)	(100	)	3,927
Tax-equivalent adjustment		42		-	99		1		77		(219	)	-
Income (loss) from continuing operations	$	5,632		250	1,719		701		(293	)	(167	)	7,842
Cash overhead efficiency ratio		43.87	%	69.47	52.85		79.62		139.76		-		55.53
Average loans, net	$	273,927		13,916	38,754		357		10,926		-		337,880
Average core deposits	$	259,483		13,605	23,607		34,659		5,213		-		336,567

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

BUSINESS SEGMENTS (Unaudited) (As reported)



	Three Months Ended September 30, 2006

(Dollars in millions)	General Bank			Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses		Total
CONSOLIDATED
Net interest income	$	2,823		150	485		247		(127	)	(37	)	3,541
Fee and other income		902		197	989		1,232		145		-		3,465
Intersegment revenue		48		1	(43	)	(8	)	2		-		-
Total revenue		3,773		348	1,431		1,471		20		(37	)	7,006
Provision for credit losses		123		-	(5	)	-		(10	)	-		108
Noninterest expense		1,689		234	791		1,098		195		38		4,045
Minority interest		-		-	-		-		104		-		104
Income taxes (benefits)		704		42	230		136		(227	)	(13	)	872
Tax-equivalent adjustment		11		-	9		-		17		(37	)	-
Net income (loss)	$	1,246		72	406		237		(59	)	(25	)	1,877
Cash overhead efficiency ratio		44.74	%	67.19	55.28		74.67		508.98		-		55.60
Average loans, net	$	197,041		16,449	45,792		795		21,033		-		281,110
Average core deposits	$	216,410		14,048	26,184		30,114		4,471		-		291,227

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED BUSINESS SEGMENTS (Unaudited)



	Three Months Ended September 30, 2006

(Dollars in millions)	General Bank			Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses		Illustrative Combined
CONSOLIDATED
Net interest income	$	3,751		151	484		247		(154	)	(37	)	4,442
Fee and other income		923		198	989		1,243		513		-		3,866
Intersegment revenue		48		1	(43	)	(8	)	2		-		-
Total revenue		4,722		350	1,430		1,482		361		(37	)	8,308
Provision for credit losses		122		1	(5	)	-		(9	)	-		109
Noninterest expense		1,958		234	790		1,107		621		61		4,771
Minority interest		-		-	-		-		104		-		104
Income taxes (benefits)		953		42	230		137		(369	)	(13	)	980
Tax-equivalent adjustment		11		-	9		-		17		(37	)	-
Net income (loss)	$	1,678		73	406		238		(3	)	(48	)	2,344
Cash overhead efficiency ratio		41.46	%	67.07	55.28		74.70		156.78		-		55.69
Average loans, net	$	320,743		16,449	45,792		795		20,537		-		404,316
Average core deposits	$	280,992		14,048	26,184		30,114		4,545		-		355,883

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

BUSINESS SEGMENTS (Unaudited) (As reported)



	Three Months Ended June 30, 2006

(Dollars in millions)	General Bank			Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses		Total
CONSOLIDATED
Net interest income	$	2,784		151	507		259		(26	)	(34	)	3,641
Fee and other income		855		194	1,215		1,225		94		-		3,583
Intersegment revenue		48		1	(42	)	(9	)	2		-		-
Total revenue		3,687		346	1,680		1,475		70		(34	)	7,224
Provision for credit losses		95		2	(33	)	-		(5	)	-		59
Noninterest expense		1,751		248	878		1,119		241		24		4,261
Minority interest		-		-	-		-		89		1		90
Income taxes (benefits)		663		35	299		129		(187	)	(10	)	929
Tax-equivalent adjustment		10		-	9		1		14		(34	)	-
Net income (loss)	$	1,168		61	527		226		(82	)	(15	)	1,885
Cash overhead efficiency ratio		47.52	%	71.67	52.28		75.89		199.29		-		57.03
Average loans, net	$	192,422		15,997	43,849		616		22,381		-		275,265
Average core deposits	$	214,419		14,551	26,323		31,827		4,518		-		291,638

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED BUSINESS SEGMENTS (Unaudited)



	Three Months Ended June 30, 2006

(Dollars in millions)	General Bank			Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses		Illustrative Combined
CONSOLIDATED
Net interest income	$	3,732		151	507		259		(66	)	(34	)	4,549
Fee and other income		876		196	1,215		1,237		94		-		3,618
Intersegment revenue		48		1	(42	)	(9	)	2		-		-
Total revenue		4,656		348	1,680		1,487		30		(34	)	8,167
Provision for credit losses		96		2	(33	)	-		(4	)	-		61
Noninterest expense		2,012		249	879		1,128		294		24		4,586
Minority interest		-		-	-		-		89		1		90
Income taxes (benefits)		920		35	298		131		(202	)	(10	)	1,172
Tax-equivalent adjustment		10		-	9		1		14		(34	)	-
Net income (loss)	$	1,618		62	527		227		(161	)	(15	)	2,258
Cash overhead efficiency ratio		43.22	%	71.55	52.28		75.92		905.83		-		54.31
Average loans, net	$	314,252		15,997	43,849		616		22,085		-		396,799
Average core deposits	$	276,123		14,551	26,323		31,827		4,593		-		353,417

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

BUSINESS SEGMENTS (Unaudited) (As reported)



	Three Months Ended March 31, 2006

(Dollars in millions)	General Bank			Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses		Total
CONSOLIDATED
Net interest income	$	2,537		151	504		250		97		(49	)	3,490
Fee and other income		872		188	1,242		1,230		(15	)	-		3,517
Intersegment revenue		43		1	(37	)	(8	)	1		-		-
Total revenue		3,452		340	1,709		1,472		83		(49	)	7,007
Provision for credit losses		62		-	1		-		(2	)	-		61
Noninterest expense		1,668		247	887		1,136		233		68		4,239
Minority interest		-		-	-		-		95		-		95
Income taxes (benefits)		617		34	281		123		(149	)	(22	)	884
Tax-equivalent adjustment		11		-	22		-		16		(49	)	-
Net income (loss)	$	1,094		59	518		213		(110	)	(46	)	1,728
Cash overhead efficiency ratio		48.30	%	72.60	51.89		77.18		172.02		-		57.81
Average loans, net	$	178,149		15,584	42,986		462		23,393		-		260,574
Average core deposits	$	210,939		14,908	25,523		33,583		5,261		-		290,214

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED BUSINESS SEGMENTS (Unaudited)



	Three Months Ended March 31, 2006

(Dollars in millions)	General Bank			Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses		Illustrative Combined
CONSOLIDATED
Net interest income	$	3,494		151	504		250		42		(49	)	4,392
Fee and other income		888		189	1,242		1,241		(15	)	-		3,545
Intersegment revenue		43		1	(37	)	(8	)	1		-		-
Total revenue		4,425		341	1,709		1,483		28		(49	)	7,937
Provision for credit losses		62		-	1		-		2		-		65
Noninterest expense		1,913		247	887		1,146		288		68		4,549
Minority interest		-		-	-		-		95		-		95
Income taxes (benefits)		883		34	281		123		(173	)	(22	)	1,126
Tax-equivalent adjustment		11		-	22		-		16		(49	)	-
Net income (loss)	$	1,556		60	518		214		(200	)	(46	)	2,102
Cash overhead efficiency ratio		43.24	%	72.47	51.89		77.29		1,379.85		-		55.40
Average loans, net	$	297,837		15,584	42,986		462		22,782		-		379,651
Average core deposits	$	272,033		14,908	25,523		33,583		5,335		-		351,382

See Notes to Supplemental Illustrative Combined Financial Information.


WACHOVIA CORPORATION SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION BUSINESS SEGMENTS *(Unaudited) (As reported)*

	Three Months Ended December 31, 2005

(Dollars in millions)	General Bank			Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses		Total
CONSOLIDATED
Net interest income	$	2,467		153	586		234		135		(52	)	3,523
Fee and other income		746		189	901		1,167		(14	)	-		2,989
Intersegment revenue		55		2	(51	)	(7	)	1		-		-
Total revenue		3,268		344	1,436		1,394		122		(52	)	6,512
Provision for credit losses		75		1	(13	)	-		18		-		81
Noninterest expense		1,669		253	785		1,112		306		58		4,183
Minority interest		-		-	-		-		103		-		103
Income taxes (benefits)		547		32	224		103		(233	)	(21	)	652
Tax-equivalent adjustment		12		-	23		-		17		(52	)	-
Income (loss) from continuing operations	$	965		58	417		179		(89	)	(37	)	1,493
Cash overhead efficiency ratio		51.07	%	73.22	54.66		79.75		175.52		-		61.41
Average loans, net	$	168,761		14,902	41,607		389		11,823		-		237,482
Average core deposits	$	208,005		14,415	25,981		33,348		5,753		-		287,502


WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION ILLUSTRATIVE COMBINED BUSINESS SEGMENTS *(Unaudited)*

	Three Months Ended December 31, 2005

(Dollars in millions)	General Bank			Wealth Management	Corporate and Investment Bank		Capital Management		Parent		Net Merger- Related and Restructuring Expenses		Illustrative Combined
CONSOLIDATED
Net interest income	$	3,414		153	585		233		82		(52	)	4,415
Fee and other income		766		191	901		1,178		(14	)	-		3,022
Intersegment revenue		55		2	(50	)	(7	)	-		-		-
Total revenue		4,235		346	1,436		1,404		68		(52	)	7,437
Provision for credit losses		75		1	(12	)	-		19		-		83
Noninterest expense		1,910		253	785		1,121		377		58		4,504
Minority interest		-		-	-		-		103		-		103
Income taxes (benefits)		814		33	224		103		(273	)	(21	)	880
Tax-equivalent adjustment		12		-	23		-		17		(52	)	-
Income (loss) from continuing operations	$	1,424		59	416		180		(175	)	(37	)	1,867
Cash overhead efficiency ratio		45.09	%	73.08	54.66		79.76		668.58		-		58.28
Average loans, net	$	285,414		14,902	41,607		389		11,439		-		353,751
Average core deposits	$	267,834		14,415	25,981		33,348		5,828		-		347,406

See Notes to Supplemental Illustrative Combined Financial Information.


WACHOVIA CORPORATION SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION BUSINESS SEGMENTS *(Unaudited) (As reported)*

	2006					2005

(Dollars in millions)	Third Quarter			Second Quarter	First Quarter	Fourth Quarter
GENERAL BANK - RETAIL AND SMALL BUSINESS
Net interest income	$	1,724		1,709	1,660	1,644
Fee and other income		777		737	758	643
Intersegment revenue		12		13	13	12
Total revenue		2,513		2,459	2,431	2,299
Provision for credit losses		47		38	40	54
Noninterest expense		1,313		1,354	1,310	1,343
Income taxes		420		390	394	331
Tax-equivalent adjustment		1		-	-	-
Segment earnings	$	732		677	687	571
Cash overhead efficiency ratio		52.22	%	55.11	53.86	58.41
Average loans, net	$	93,306		91,240	89,195	86,880
Average core deposits	$	169,191		167,555	163,212	159,693


WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION ILLUSTRATIVE COMBINED BUSINESS SEGMENTS *(Unaudited)*

	2006					2005

(Dollars in millions)	Third Quarter			Second Quarter	First Quarter	Fourth Quarter
GENERAL BANK - RETAIL AND SMALL BUSINESS
Net interest income	$	2,652		2,658	2,618	2,591
Fee and other income		797		758	773	664
Intersegment revenue		12		14	12	11
Total revenue		3,461		3,430	3,403	3,266
Provision for credit losses		47		38	40	55
Noninterest expense		1,581		1,616	1,555	1,583
Income taxes		668		648	660	597
Tax-equivalent adjustment		1		-	-	-
Segment earnings	$	1,164		1,128	1,148	1,031
Cash overhead efficiency ratio		45.69	%	47.12	45.70	48.48
Average loans, net	$	217,008		213,070	208,883	203,532
Average core deposits	$	233,773		229,260	224,307	219,522

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION AND GOLDEN WEST FINANCIAL CORPORATION

SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

ILLUSTRATIVE COMBINED EARNINGS RECONCILIATION (Unaudited)



	*2006*				2005

(In millions)	Third Quarter		Second Quarter	First Quarter	Fourth Quarter
Pro forma combined income from continuing operations	$	2,344	2,258	2,102	1,867
After tax merger-related and restructuring expenses		43	16	44	39
Pro forma combined earnings from continuing operations, excluding after tax merger-related and restructuring expenses		2,387	2,274	2,146	1,906
After tax deposit base and other intangible amortization		92	90	85	103
Pro forma combined earnings, excluding after tax merger-related and restructuring expenses, and after tax deposit base and other intangible amortization	$	2,479	2,364	2,231	2,009

See Notes to Supplemental Illustrative Combined Financial Information.

WACHOVIA CORPORATION AND SUBSIDIARIES

NOTES TO SUPPLEMENTAL ILLUSTRATIVE COMBINED FINANCIAL INFORMATION

NOTE 1: PRESENTATION

GENERAL

The unaudited supplemental illustrative combined financial information (the “Supplemental Information”) is provided as additional financial information related to the October 1, 2006, merger of Wachovia Corporation (the “Company”) and Golden West Financial Corporation (“Golden West”) as more fully described below. The Supplemental Information in this Exhibit 99(d) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be incorporated by reference in any filing under the Securities Act of 1933. The Supplemental Information is not necessarily indicative of the results of operations that may be expected in the future and the Supplemental Information will not subsequently be revised as a result of finalizing fair value estimates related to the net assets of Golden West or for organizational or other changes that may occur. Estimates of the accretion or amortization of income or expense related to current fair value estimates including amortization of the core deposit intangible created by the merger are included in the Supplemental Information. See also Note 2 below. Business segment net interest income and total revenue are presented on a tax-equivalent basis and the tax-equivalent amount is eliminated in the “Net Merger-Related and Restructuring Expenses” column in order for “Total” and “Illustrative Combined” amounts to conform to amounts appearing in the “Illustrative Combined Consolidated Statements of Income”. For the full year ended December 31, 2006, the standalone Golden West information represents the period from January 1, 2006 to September 30, 2006.

BUSINESS COMBINATION

On May 7, 2006, the Company announced the signing of a definitive merger agreement with Golden West. The merger of this California-based retail banking and mortgage lending franchise was completed on October 1, 2006. The terms of this transaction called for the Company to exchange 1.05105 shares of its common stock plus cash of $18.6461 for each share of Golden West common stock. Based on the Company’s weighted average of the closing prices for a period two trading days before the announcement of the merger and two trading days after the merger announcement of $55.69 (which includes the day of announcement), the transaction is valued at $24.3 billion.

RECLASSIFICATIONS

For each period presented, certain reported information for the Company, as well as certain of its business segments, and for Golden West has been reclassified to conform to the Company’s current presentation of financial information. These reclassifications had no effect on the Company’s or Golden West’s previously reported consolidated financial position or results of operations.

NOTE 2: ILLUSTRATIVE COMBINED CONSOLIDATED BALANCE SHEET ADJUSTMENTS

Preliminary fair value adjustments include a decrease to securities and loans of $23 million and $804 million, respectively, or a total of $827 million; an increase in premises and equipment of $106 million; goodwill and other intangible assets related to the merger of $14.9 billion and $409 million, respectively; a decrease in other assets of $37 million; an increase in interest-bearing deposits and long-term debt of $74 million and $33 million, respectively, or a total of $107 million; and a decrease in other liabilities of $145 million, which includes an increase of $12 million related to personnel and employee termination benefits, net other exit costs of $29 million and a net deferred income tax benefit of $186 million. The stockholders’ equity increase of a net $8.8 billion reflects the issuance of 326 million shares of Wachovia common stock to holders of Golden West common stock. The long-term debt adjustment also includes $5.8 billion related to the funding of the cash portion of the transaction. See also Note 4 below.

NOTE 3: ILLUSTRATIVE COMBINED CONSOLIDATED STATEMENT OF INCOME ADJUSTMENTS

Combining adjustments in the statements of income represent the appropriate periodic accretion or amortization amounts related to the fair value adjustments for securities, loans, premises and equipment, core deposit and long-term debt resulting from the Golden West merger. Interest expense also includes an estimated funding cost of 5.35 percent related to $5.8 billion of merger-related debt. The accretion or amortization amount was determined using effective yield or accelerated methods over 24.5 years for securities; 2.3 years for loans; 37.5 years for premises and equipment; 4.5 years for core deposits; and 2.75 years to 24.5 years for long-term debt. The accretion or amortization amounts represent the first three months of estimated income or expense applied on a constant basis for each period presented. An effective income tax rate of 39 percent was used to determine the related income tax benefit.

NOTE 4: PRELIMINARY GOODWILL AND OTHER INTANGIBLE ASSETS

PRELIMINARY GOODWILL AND OTHER INTANGIBLE ASSETS CREATED

BY THE WACHOVIA/GOLDEN WEST MERGER



(In millions)
Purchase price less Golden West ending tangible stockholders’ equity as of October 1, 2006	$	14,543
Preliminary fair value purchase accounting adjustments
Financial assets		827
Premises and equipment		(106	)
Other assets		37
Financial liabilities		107
Total pre-tax fair value purchase accounting adjustments		865
Deferred income taxes		(327	)
Total after-tax fair value purchase accounting adjustments		538
Preliminary exit cost purchase accounting adjustments
Personnel and employee termination benefits		12
Occupancy and equipment		29
Total pre-tax exit costs		41
Deferred income taxes		(7	)
Total after-tax exit cost purchase accounting adjustments (One-time costs)		34
Total intangibles		15,115
Deposit base intangible		(409	)
Deferred income taxes		148
Preliminary goodwill	$	14,854

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