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Preferred Stock
 6 Months Ended
Jun. 30, 2011
Preferred Stock [Abstract]  
Preferred Stock
Note 14: Preferred Stock
 
We are authorized to issue 20 million shares of preferred stock and 4 million shares of preference stock, both without par value. Preferred shares outstanding rank senior to common shares both as to dividends and liquidation preference but have no general voting rights. We have not issued any preference shares under this authorization. If issued, preference shares would be limited to one vote per share. Our total issued and outstanding preferred stock includes Dividend Equalization Preferred (DEP) shares and Series I, J, K and L, which are presented in the following tables, and Employee Stock Ownership Plan (ESOP) Cumulative Convertible Preferred Stock, which are presented in the table on the following page.

 
                 
    June 30, 2011 and December 31, 2010  
    Liquidation     Shares  
    preference     authorized  
    per share     and designated  
 
 
               
DEP Shares
               
Dividend Equalization Preferred Shares
  $ 10       97,000  
 
               
Series A
               
Non-Cumulative Perpetual
               
Preferred Stock
    100,000       25,001  
 
               
Series B
               
Non-Cumulative Perpetual
               
Preferred Stock
    100,000       17,501  
 
               
Series G
               
7.25% Class A Preferred Stock
    15,000       50,000  
 
               
Series H
               
Floating Class A Preferred Stock
    20,000       50,000  
 
               
Series I
               
5.80% Fixed to Floating Class A
               
Preferred Stock
    100,000       25,010  
 
               
Series J
               
8.00% Non-Cumulative Perpetual
               
Class A Preferred Stock
    1,000       2,300,000  
 
               
Series K
               
7.98% Fixed-to-Floating Non-Cumulative
               
Perpetual Class A Preferred Stock
    1,000       3,500,000  
Series L
               
7.50% Non-Cumulative Perpetual
               
Convertible Class A Preferred Stock
    1,000       4,025,000  
 
               
 
Total
            10,089,512  
 
 
                                                                 
    June 30, 2011     December 31, 2010  
 
                                                               
    Shares                             Shares                      
    issued and             Carrying             issued and             Carrying        
(in millions, except shares)   outstanding     Par value     value     Discount     outstanding     Par value     value     Discount  
 
 
                                                               
DEP Shares
                                                               
Dividend Equalization Preferred Shares
    96,546     $ -       -       -       96,546     $ -       -       -  
 
                                                               
Series I (1)
                                                               
5.80% Fixed to Floating Class A Preferred Stock
    25,010       2,501       2,501       -       -       -       -       -  
 
                                                               
Series J (1)
                                                               
8.00% Non-Cumulative Perpetual Class A Preferred Stock
    2,150,375       2,150       1,995       155       2,150,375       2,150       1,995       155  
 
                                                               
Series K (1)
                                                               
7.98% Fixed-to-Floating Non-Cumulative Perpetual Class A Preferred Stock
    3,352,000       3,352       2,876       476       3,352,000       3,352       2,876       476  
 
                                                               
Series L (1)
                                                               
7.50% Non-Cumulative Perpetual
                                                               
Convertible Class A Preferred Stock
    3,968,000       3,968       3,200       768       3,968,000       3,968       3,200       768  
 
 
                                                               
Total
    9,591,931     $ 11,971       10,572       1,399       9,566,921     $ 9,470       8,071       1,399  
 
 
(1)   Preferred shares qualify as Tier 1 capital.
     In March 2011, the Company issued preferred stock for Series I (25,010 shares with a par value of $2.5 billion) to an unconsolidated wholly-owned trust related to our income trust securities.
     We have a commitment to issue preferred stock for Series A ($2.5 billion) and Series B ($1.8 billion) to unconsolidated wholly-owned trusts. The issuance dates are dependent on the sale of our income trust securities held by these trusts to third party investors, but we expect those dates will be March 2013 and September 2013, respectively. See Note 7 for additional information on our trust preferred securities. We do not have a commitment to issue Series G or H preferred stock.
ESOP CUMULATIVE CONVERTIBLE PREFERRED STOCK All shares of our ESOP Cumulative Convertible Preferred Stock (ESOP Preferred Stock) were issued to a trustee acting on behalf of the Wells Fargo & Company 401(k) Plan (the 401(k) Plan). Dividends on the ESOP Preferred Stock are cumulative from the date of initial issuance and are payable quarterly at annual rates based upon the year of issuance. Each share of ESOP Preferred Stock released from the unallocated reserve of the 401(k) Plan is converted into shares of our common stock based on the stated value of the ESOP Preferred Stock and the then current market price of our common stock. The ESOP Preferred Stock is also convertible at the option of the holder at any time, unless previously redeemed. We have the option to redeem the ESOP Preferred Stock at any time, in whole or in part, at a redemption price per share equal to the higher of (a) $1,000 per share plus accrued and unpaid dividends or (b) the fair market value, as defined in the Certificates of Designation for the ESOP Preferred Stock.
 
                                                 
    Shares issued and outstanding     Carrying value     Adjustable  
    June 30,     December 31,     June 30,     December 31,     dividend rate  
(in millions, except shares)   2011     2010     2011     2010     Minimum     Maximum  
 
                                               
ESOP Preferred Stock
                                               
$1,000 liquidation preference per share
                                               
2011
    560,186       -     $ 560       -       9.00 %     10.00  
2010
    274,761       287,161       275       287       9.50       10.50  
2008
    102,004       104,854       102       105       10.50       11.50  
2007
    81,204       82,994       81       83       10.75       11.75  
2006
    57,372       58,632       58       59       10.75       11.75  
2005
    39,992       40,892       40       41       9.75       10.75  
2004
    26,215       26,815       26       27       8.50       9.50  
2003
    13,286       13,591       13       13       8.50       9.50  
2002
    3,363       3,443       3       3       10.50       11.50  
                 
 
                                               
Total ESOP Preferred Stock (1)
    1,158,383       618,382     $ 1,158       618                  
                 
 
                                               
Unearned ESOP shares (2)
                  $ (1,249 )     (663 )                
 
                                               
 
(1)   At June 30, 2011, and December 31, 2010, additional paid-in capital included $91 million and $45 million, respectively, related to preferred stock.
 
(2)   We recorded a corresponding charge to unearned ESOP shares in connection with the issuance of the ESOP Preferred Stock. The unearned ESOP shares are reduced as shares of the ESOP Preferred Stock are committed to be released.