10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
WELLS FARGO & COMPANY/MN | |||
Ticker: WFC Fiscal Year: 2012 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Interest income | |||
| Trading assets | $ 1,358 | 1,440 | 1,098 |
| Securities available for sale | 8,098 | 8,475 | 9,666 |
| Mortgages held for sale | 1,825 | 1,644 | 1,736 |
| Loans held for sale | 41 | 58 | 101 |
| Loans | 36,482 | 37,247 | 39,760 |
| Other interest income | 587 | 548 | 435 |
| Total interest income | 48,391 | 49,412 | 52,796 |
| Interest expense: | |||
| Deposits | 1,727 | 2,275 | 2,832 |
| Short-term borrowings | 79 | 80 | 92 |
| Long-term debt | 3,110 | 3,978 | 4,888 |
| Other interest expense | 245 | 316 | 227 |
| Total interest expense | 5,161 | 6,649 | 8,039 |
| Net interest income | 43,230 | 42,763 | 44,757 |
| Provision for credit losses | 7,217 | 7,899 | 15,753 |
| Net interest income after provision for credit losses | 36,013 | 34,864 | 29,004 |
| Noninterest income | |||
| Service charges on deposit accounts | 4,683 | 4,280 | 4,916 |
| Trust and investment fees | 11,890 | 11,304 | 10,934 |
| Card fees | 2,838 | 3,653 | 3,652 |
| Other fees | 4,519 | 4,193 | 3,990 |
| Mortgage banking | 11,638 | 7,832 | 9,737 |
| Insurance | 1,850 | 1,960 | 2,126 |
| Net gains from trading activities | 1,707 | 1,014 | 1,648 |
| Net gains (losses) on debt securities available for sale | (128) [1] | 54 | (324) |
| Net gains from equity investments | 1,485 [2] | 1,482 | 779 |
| Operating leases | 567 | 524 | 815 |
| Other | 1,807 | 1,889 | 2,180 |
| Total noninterest income | 42,856 | 38,185 | 40,453 |
| Noninterest expense | |||
| Salaries | 14,689 | 14,462 | 13,869 |
| Commission and incentive compensation | 9,504 | 8,857 | 8,692 |
| Employee benefits | 4,611 | 4,348 | 4,651 |
| Equipment | 2,068 | 2,283 | 2,636 |
| Net occupancy | 2,857 | 3,011 | 3,030 |
| Core deposit and other intangibles | 1,674 | 1,880 | 2,199 |
| FDIC and other deposit assessments | 1,356 | 1,266 | 1,197 |
| Other | 13,639 | 13,286 | 14,182 |
| Total noninterest expense | 50,398 | 49,393 | 50,456 |
| Income before income tax expense | 28,471 | 23,656 | 19,001 |
| Income tax expense | 9,103 | 7,445 | 6,338 |
| Net income before noncontrolling interests | 19,368 | 16,211 | 12,663 |
| Less: Net income (loss) from noncontrolling interests | 471 | 342 | 301 |
| Wells Fargo net income | 18,897 | 15,869 | 12,362 |
| Less: Preferred stock dividends and other | 898 | 844 | 730 |
| Wells Fargo net income applicable to common stock | 17,999 | 15,025 | 11,632 |
| Per share information | |||
| Earnings per common share | 3.40 | 2.85 | 2.23 |
| Diluted earnings per common share | 3.36 | 2.82 | 2.21 |
| Dividends declared per common share | 0.88 | 0.48 | 0.20 |
| Average common shares outstanding | 5,287,600 | 5,278,100 | 5,226,800 |
| Diluted average common shares outstanding | 5,351,500 | 5,323,400 | 5,263,100 |
| [1] Total other-than-temporary impairment (OTTI) losses (gains) were $3 million, $349 million and $500 million for the year ended December 31, 2012, 2011 and 2010, respectively. Of total OTTI, losses of $240 million, $423 million and $672 million were recognized in earnings, and gains of $(237) million, $(74) million and $(172) million were recognized as non-credit-related OTTI in other comprehensive income for the year ended December 31, 2012, 2011 and 2010, respectively. | |||
| [2] Includes OTTI losses of $176 million, $288 million and $268 million for the year ended December 31, 2012, 2011 and 2010, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
WELLS FARGO & COMPANY/MN | |||
Ticker: WFC Fiscal Year: 2012 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Wells Fargo net income | $ 18,897 | 15,869 | 12,362 |
| Other comprehensive income, before tax: | |||
| Foreign currency translation adjustments: | |||
| Net unrealized gains (losses) arising during the period, Before tax | (6) | (37) | 83 |
| Reclassification of net gains to net income, Before tax | (10) | 0 | 0 |
| Securities available for sale: | |||
| Net unrealized gains (losses) arising during the period, Before tax | 5,143 | (588) | 2,624 |
| Reclassification of net (gains) losses to net income, Before tax | (271) | (696) | 77 |
| Derivatives and hedging activities: | |||
| Net unrealized gains arising during the period, Before tax | 52 | 190 | 750 |
| Reclassification of net gains on cash flow hedges to net income, Before tax | (388) | (571) | (613) |
| Defined benefit plans adjustments: | |||
| Net actuarial gains (losses) arising during the period, Before tax | (775) | (1,079) | 20 |
| Amortization of net actuarial loss and prior service cost to net income, Before tax | 144 | 99 | 104 |
| Other comprehensive income (loss), Before tax | 3,889 | (2,682) | 3,045 |
| Income tax (expense) benefit related to other comprehensive income | (1,442) | 1,139 | (1,291) |
| Other comprehensive income (loss), Net of tax | 2,447 | (1,543) | 1,754 |
| Less: Other comprehensive income (loss) attributable to noncontrolling interests | 4 | (12) | 25 |
| Wells Fargo other comprehensive income (loss), net of tax | 2,443 | (1,531) | 1,729 |
| Total comprehensive income | 21,815 | 14,668 | 14,417 |
| Statement, Equity Components | |||
| Total Wells Fargo stockholders' equity | |||
| Wells Fargo net income | 18,897 | 15,869 | 12,362 |
| Wells Fargo other comprehensive income (loss), net of tax | 2,443 | (1,531) | 1,729 |
| Wells Fargo Comprehensive Income | 21,340 | 14,338 | 14,091 |
| Noncontrolling interests | |||
| Less: Other comprehensive income (loss) attributable to noncontrolling interests | 4 | (12) | 25 |
| Comprehensive income from noncontrolling interests | 475 | 330 | 326 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
WELLS FARGO & COMPANY/MN | |||
Ticker: WFC Fiscal Year: 2012 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Cash flows from operating activities: | |||
| Net income (loss) before noncontrolling interests | $ 19,368 | 16,211 | 12,663 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 7,217 | 7,899 | 15,753 |
| Changes in fair value of MSRs, MHFS and LHFS carried at fair value | (2,307) | (295) | (1,025) |
| Depreciation and amortization | 2,807 | 2,208 | 1,924 |
| Other net (gains) losses | (3,661) | 3,273 | 1,345 |
| Stock-based compensation | 1,698 | 1,488 | 1,232 |
| Excess tax benefits related to stock option payments | (226) | (79) | (98) |
| Originations of MHFS | (483,835) | (345,099) | (370,175) |
| Proceeds from sales of and principal collected on mortgages originated for sale | 421,623 | 298,524 | 355,325 |
| Originations of LHFS | (15) | (5) | (4,596) |
| Proceeds from sales of and principal collected on LHFS | 9,383 | 11,833 | 17,828 |
| Purchases of LHFS | (7,975) | (11,723) | (7,470) |
| Net change in: | |||
| Trading assets | 105,440 | 35,149 | 12,356 |
| Deferred income taxes | (1,297) | 3,573 | 4,287 |
| Accrued interest receivable | 293 | (401) | 1,051 |
| Accrued interest payable | (84) | (362) | (268) |
| Other assets, net | 2,064 | (11,529) | (19,631) |
| Other accrued expenses and liabilities, net | (11,953) | 3,000 | (1,729) |
| Net cash provided by operating activities | 58,540 | 13,665 | 18,772 |
| Cash flows from investing activities: | |||
| Net change in Federal funds sold, securities purchased under resale agreements and other short term investments | (92,946) | 36,270 | (39,752) |
| Securities available for sale: | |||
| Sales proceeds | 5,210 | 23,062 | 8,668 |
| Prepayments and maturities | 59,712 | 52,618 | 47,919 |
| Purchases | (64,756) | (121,235) | (53,466) |
| Loans: | |||
| Loans originated by banking subsidiaries, net of principal collected | (50,420) | (35,686) | 15,869 |
| Proceeds from sales (including participations) of loans originated for investment | 6,811 | 6,555 | 6,517 |
| Purchases (including participations) of loans | (9,040) | (8,878) | (2,297) |
| Principal collected on nonbank entities' loans | 25,080 | 9,782 | 15,560 |
| Loans originated by nonbank entities | (23,555) | (7,522) | (10,836) |
| Net cash paid for acquisitions | (4,322) | (353) | (36) |
| Proceeds from sales of foreclosed assets | 9,729 | 10,655 | 5,444 |
| Changes in MSRs from purchases and sales | 116 | (155) | (65) |
| Other, net | (1,509) | (157) | 2,800 |
| Net cash used by investing activities | (139,890) | (35,044) | (3,675) |
| Cash flows from financing activities: | |||
| Net change in deposits | 82,762 | 72,128 | 23,924 |
| Net change in short-term borrowings | 7,699 | (6,231) | 11,308 |
| Long-term debt: | |||
| Proceeds from issuance | 27,695 | 11,687 | 3,489 |
| Repayment | (28,093) | (50,555) | (63,317) |
| Preferred stock: | |||
| Proceeds from issuance | 1,377 | 2,501 | 0 |
| Cash dividends paid | (892) | (844) | (737) |
| Common stock: | |||
| Proceeds from issuance | 2,091 | 1,296 | 1,375 |
| Repurchased | (3,918) | (2,416) | (91) |
| Cash dividends paid | (4,565) | (2,537) | (1,045) |
| Common stock warrants repurchased | (1) | (2) | (545) |
| Excess tax benefits related to stock option payments | 226 | 79 | 98 |
| Net change in noncontrolling interests | (611) | (331) | (592) |
| Net cash provided (used) by financing activities | 83,770 | 24,775 | (26,133) |
| Net change in cash and due from banks | 2,420 | 3,396 | (11,036) |
| Cash and due from banks at beginning of year | 19,440 | 16,044 | 27,080 |
| Cash and due from banks at end of year | 21,860 | 19,440 | 16,044 |
| Supplemental cash flow disclosures: | |||
| Cash paid for interest | 5,245 | 7,011 | 8,307 |
| Cash paid for income taxes | 8,024 | 4,875 | 1,187 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
WELLS FARGO & COMPANY/MN | ||
Ticker: WFC Fiscal Year: 2012 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2012 | Dec 31, 2011 | |
| Assets | ||
| Cash and Due from Banks | $ 21,860 | 19,440 |
| Federal funds sold, securities purchased under resale agreements and other short-term investments | 137,313 | 44,367 |
| Trading assets | 57,482 | 77,814 |
| Securities available for sale | 235,199 | 222,613 |
| Mortgages held for sale (includes $42,305 and $44,791 carried at fair value) | 47,149 | 48,357 |
| Loans held for sale (includes $6 and $1,176 carried at fair value) | 110 | 1,338 |
| Loans (includes $6,206 and $5,916 carried at fair value) | 799,574 | 769,631 |
| Allowance for loan losses | (17,060) | (19,372) |
| Net loans | 782,514 | 750,259 |
| Mortgage servicing rights: | ||
| Measured at fair value | 11,538 | 12,603 |
| Amortized | 1,160 | 1,408 |
| Premises and equipment, net | 9,428 | 9,531 |
| Goodwill | 25,637 | 25,115 |
| Other assets | 93,578 | 101,022 |
| Total assets | 1,422,968 [1] | 1,313,867 |
| Liabilities | ||
| Noninterest-bearing deposits | 288,207 | 244,003 |
| Interest-bearing deposits | 714,628 | 676,067 |
| Total deposits | 1,002,835 | 920,070 |
| Short-term borrowings | 57,175 | 49,091 |
| Accrued expenses and other liabilities | 76,668 | 77,665 |
| Long-term debt (includes $1 and $0 carried at fair value) | 127,379 | 125,354 |
| Total liabilities | 1,264,057 [2] | 1,172,180 |
| Equity | ||
| Wells Fargo stockholders' equity: | ||
| Preferred stock | 12,883 | 11,431 |
| Common stock - $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares and 5,358,522,061 shares | 9,136 | 8,931 |
| Additional paid-in capital | 59,802 | 55,957 |
| Retained earnings | 77,679 | 64,385 |
| Cumulative other comprehensive income | 5,650 | 3,207 |
| Treasury stock - 215,497,298 shares and 95,910,425 shares | (6,610) | (2,744) |
| Unearned ESOP shares | (986) | (926) |
| Total Wells Fargo stockholders' equity | 157,554 | 140,241 |
| Noncontrolling interests | 1,357 | 1,446 |
| Total equity | 158,911 | 141,687 |
| Total liabilities and equity | 1,422,968 | 1,313,867 |
| [1] Our consolidated assets at December 31, 2012 and December 31, 2011, include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $260 million and $321 million; Trading assets, $114 million and $293 million; Securities available for sale, $2.8 billion and $3.3 billion; Mortgages held for sale, $469 million and $444 million; Net loans, $10.6 billion and $12.0 billion; Other assets, $457 million and $1.9 billio | ||
| [2] Our consolidated liabilities at December 31, 2012 and December 31, 2011, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Short-term borrowings, $0 and $24 million; Accrued expenses and other liabilities, $134 million and $175 million; Long-term debt, $3.5 billion and $4.9 billion; and Total liabilities, $3.6 billion and $5.1 billion, respectively. | ||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2012 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |