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: 2016 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Mar 1, 2017) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Interest income | |||
| Trading assets | $ 2,506 | 1,971 | 1,685 |
| Investment securities | 9,248 | 8,937 | 8,438 |
| Mortgages held for sale | 784 | 785 | 767 |
| Loans held for sale | 9 | 19 | 78 |
| Loans | 39,505 | 36,575 | 35,652 |
| Other interest income | 1,611 | 990 | 932 |
| Total interest income | 53,663 | 49,277 | 47,552 |
| Interest expense | |||
| Deposits | 1,395 | 963 | 1,096 |
| Short-term borrowings | 330 | 64 | 59 |
| Long-term debt | 3,830 | 2,592 | 2,488 |
| Other interest expense | 354 | 357 | 382 |
| Total interest expense | 5,909 | 3,976 | 4,025 |
| Net interest income | 47,754 | 45,301 | 43,527 |
| Provision for credit losses | 3,770 | 2,442 | 1,395 |
| Net interest income after provision for credit losses | 43,984 | 42,859 | 42,132 |
| Noninterest income | |||
| Service charges on deposit accounts | 5,372 | 5,168 | 5,050 |
| Trust and investment fees | 14,243 | 14,468 | 14,280 |
| Card fees | 3,936 | 3,720 | 3,431 |
| Other fees | 3,727 | 4,324 | 4,349 |
| Mortgage banking | 6,096 | 6,501 | 6,381 |
| Insurance | 1,268 | 1,694 | 1,655 |
| Net gains from trading activities | 834 | 614 | 1,161 |
| Net gains (losses) on debt securities | 942 | 952 [1] | 593 |
| Net gains from equity investments | 879 [2] | 2,230 | 2,380 |
| Lease income | 1,927 | 621 | 526 |
| Other | 1,289 | 464 | 1,014 |
| Total noninterest income | 40,513 | 40,756 | 40,820 |
| Noninterest expense | |||
| Salaries | 16,552 | 15,883 | 15,375 |
| Commission and incentive compensation | 10,247 | 10,352 | 9,970 |
| Employee benefits | 5,094 | 4,446 | 4,597 |
| Equipment | 2,154 | 2,063 | 1,973 |
| Net occupancy | 2,855 | 2,886 | 2,925 |
| Core deposit and other intangibles | 1,192 | 1,246 | 1,370 |
| FDIC and other deposit assessments | 1,168 | 973 | 928 |
| Other | 13,115 | 12,125 | 11,899 |
| Total noninterest expense | 52,377 | 49,974 | 49,037 |
| Income before income tax expense | 32,120 | 33,641 | 33,915 |
| Income tax expense | 10,075 | 10,365 | 10,307 |
| Net income before noncontrolling interests | 22,045 | 23,276 | 23,608 |
| Less: Net income from noncontrolling interests | 107 | 382 | 551 |
| Wells Fargo net income | 21,938 | 22,894 | 23,057 |
| Less: Preferred stock dividends and other | 1,565 | 1,424 | 1,236 |
| Wells Fargo net income applicable to common stock | 20,373 | 21,470 | 21,821 |
| Per share information | |||
| Earnings per common share (in dollars per share) | 4.03 | 4.18 | 4.17 |
| Diluted earnings per common share (in dollars per share) | 3.99 | 4.12 | 4.10 |
| Dividends declared per common share (in dollars per share) | 1.51 | 1.48 | 1.35 |
| Average common shares outstanding | 5,052,800 | 5,136,500 | 5,237,200 |
| Diluted average common shares outstanding | 5,108,300 | 5,209,800 | 5,324,400 |
| [1] Total other-than-temporary impairment (OTTI) losses were $207 million, $136 million and $18 million for the years ended December 31, 2016, 2015 and 2014, respectively. Of total OTTI, losses of $189 million, $183 million and $49 million were recognized in earnings, and losses (reversal of losses) of $18 million, $(47) million and $(31) million were recognized as non-credit-related OTTI in other comprehensive income for the years ended December 31, 2016, 2015 and 2014, respectively. | |||
| [2] Includes OTTI losses of $453 million, $376 million and $273 million for the years ended December 31, 2016, 2015 and 2014, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
WELLS FARGO & COMPANY/MN | |||
Ticker: WFC Fiscal Year: 2016 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Mar 1, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Wells Fargo net income | $ 21,938 | 22,894 | 23,057 |
| Other comprehensive income (loss), before tax: | |||
| Investment securities: | |||
| Net unrealized gains (losses) arising during the period | (3,458) | (3,318) | 5,426 |
| Reclassification of net gains to net income | (1,240) | (1,530) | (1,532) |
| Derivatives and hedging activities: | |||
| Net unrealized gains arising during the period | 177 | 1,549 | 952 |
| Reclassification of net gains on cash flow hedges to net income | (1,029) | (1,089) | (545) |
| Defined benefit plans adjustments: | |||
| Net actuarial losses and prior service credits arising during the period | (52) | (512) | (1,116) |
| Amortization of net actuarial loss, settlements and other to net income | 158 | 114 | 74 |
| Foreign currency translation adjustments: | |||
| Net unrealized losses arising during the period | (3) | (137) | (60) |
| Reclassification of net (gains) losses to net income | 0 | (5) | 6 |
| Other comprehensive income (loss), before tax | (5,447) | (4,928) | 3,205 |
| Income tax (expense) benefit related to other comprehensive income | 1,996 | 1,774 | (1,300) |
| Other comprehensive income (loss), net of tax | (3,451) | (3,154) | 1,905 |
| Less: Other comprehensive income (loss) from noncontrolling interests | (17) | 67 | (227) |
| Wells Fargo other comprehensive income (loss), net of tax | (3,434) | (3,221) | 2,132 |
| Wells Fargo comprehensive income | 18,504 | 19,673 | 25,189 |
| Comprehensive income from noncontrolling interests | 90 | 449 | 324 |
| Total comprehensive income | 18,594 | 20,122 | 25,513 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
WELLS FARGO & COMPANY/MN | |||
Ticker: WFC Fiscal Year: 2016 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2016 10-K (Filed: Mar 1, 2017) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Cash flows from operating activities: | |||
| Net income before noncontrolling interests | $ 22,045 | 23,276 | 23,608 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 3,770 | 2,442 | 1,395 |
| Changes in fair value of MSRs, MHFS and LHFS carried at fair value | 139 | 62 | 1,820 |
| Depreciation, amortization and accretion | 4,970 | 3,288 | 2,515 |
| Other net gains | (6,086) | (6,496) | (3,760) |
| Stock-based compensation | 1,945 | 1,958 | 1,912 |
| Excess tax benefits related to stock incentive compensation | (283) | (453) | (453) |
| Originations and purchases of MHFS and LHFS | (205,314) | (178,294) | (144,966) |
| Proceeds from sales of and paydowns on mortgages originated for sale and LHFS | 127,488 | 133,201 | 117,304 |
| Net change in: | |||
| Trading assets (1) | 62,550 | 42,754 | 14,242 [1] |
| Deferred income taxes | 1,793 | (2,265) | 2,354 |
| Derivative assets and liabilities | 2,089 | (354) | 1,480 |
| Other assets (1) | (14,232) | (2,165) | (6,700) |
| Other accrued expenses and liabilities (1) | (705) | (2,182) | 6,778 |
| Net cash provided by operating activities | 169 | 14,772 | 17,529 |
| Cash flows from investing activities: | |||
| Net change in: | |||
| Federal funds sold, securities purchased under resale agreements and other short-term investments | 3,991 | (11,866) | (41,778) |
| Available-for-sale securities: | |||
| Sales proceeds | 31,584 | 25,431 | 6,089 |
| Prepayments and maturities | 41,105 | 33,912 | 37,257 |
| Purchases | (120,980) | (79,778) | (44,807) |
| Held-to-maturity securities: | |||
| Paydowns and maturities | 7,957 | 5,290 | 5,168 |
| Purchases | (23,593) | (25,424) | (47,012) |
| Nonmarketable equity investments: | |||
| Sales proceeds | 1,975 | 3,496 | 3,161 |
| Purchases | (4,316) | (2,352) | (3,087) |
| Loans: | |||
| Loans originated by banking subsidiaries, net of principal collected | (38,977) | (57,016) | (65,162) |
| Proceeds from sales (including participations) of loans held for investment | 10,061 | 11,672 | 21,564 |
| Purchases (including participations) of loans | (6,221) | (13,759) | (6,424) |
| Principal collected on nonbank entities' loans | 11,609 | 10,023 | 13,589 |
| Loans originated by nonbank entities | (12,533) | (12,441) | (13,570) |
| Net cash paid for acquisitions | (30,584) | (3) | (174) |
| Proceeds from sales of foreclosed assets and short sales | 7,311 | 7,803 | 7,697 |
| Other, net (1) | (508) | (2,223) | (891) |
| Net cash used by investing activities | (122,119) | (107,235) | (128,380) |
| Cash flows from financing activities: | |||
| Net change in: | |||
| Deposits | 82,767 | 54,867 | 89,133 |
| Short-term borrowings | (1,198) | 34,010 | 8,035 |
| Long-term debt: | |||
| Proceeds from issuance | 90,111 | 43,030 | 42,154 |
| Repayment | (34,462) | (27,333) | (15,829) |
| Preferred stock: | |||
| Proceeds from issuance | 2,101 | 2,972 | 2,775 |
| Cash dividends paid | (1,566) | (1,426) | (1,235) |
| Common stock: | |||
| Proceeds from issuance | 1,415 | 1,726 | 1,840 |
| Repurchased | (8,116) | (8,697) | (9,414) |
| Cash dividends paid | (7,472) | (7,400) | (6,908) |
| Excess tax benefits related to stock incentive compensation | 283 | 453 | 453 |
| Net change in noncontrolling interests | (188) | (232) | (552) |
| Other, net | (107) | 33 | 51 |
| Net cash provided by financing activities | 123,568 | 92,003 | 110,503 |
| Net change in cash and due from banks | 1,618 | (460) | (348) |
| Cash and due from banks at beginning of year | 19,111 | 19,571 | 19,919 |
| Cash and due from banks at end of year | 20,729 | 19,111 | 19,571 |
| Supplemental cash flow disclosures: | |||
| Cash paid for interest | 5,573 | 3,816 | 3,906 |
| Cash paid for income taxes | 8,446 | 13,688 | 8,808 |
| [1] (1)Prior periods have been revised to conform to the current period presentation. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
WELLS FARGO & COMPANY/MN | ||
Ticker: WFC Fiscal Year: 2016 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2016 10-K (Filed: Mar 1, 2017) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2016 | Dec 31, 2015 | |
| Assets | ||
| Cash and due from banks | $ 20,729 | 19,111 |
| Federal funds sold, securities purchased under resale agreements and other short-term investments | 266,038 | 270,130 |
| Trading assets (1) | 74,397 | 64,815 |
| Investment securities: | ||
| Available-for-sale, at fair value | 308,364 | 267,358 |
| Held-to-maturity, at cost (fair value $99,155 and $80,567) | 99,583 | 80,197 |
| Mortgages held for sale (includes $22,042 and $13,539 carried at fair value) | 26,309 | 19,603 |
| Loans held for sale | 80 | 279 |
| Loans (includes $758 and $5,316 carried at fair value) | 967,604 [1] | 916,559 |
| Allowance for loan losses | (11,419) | (11,545) |
| Net loans | 956,185 | 905,014 |
| Mortgage servicing rights: | ||
| Measured at fair value | 12,959 | 12,415 |
| Amortized | 1,406 | 1,308 |
| Premises and equipment, net | 8,333 | 8,704 |
| Goodwill | 26,693 | 25,529 |
| Net amounts in consolidated balance sheet, asset | 14,498 | 17,656 |
| Other assets (includes $3,275 and $3,065 carried at fair value) | 114,541 | 95,513 [2] |
| Total assets | 1,930,115 [3] | 1,787,632 |
| Liabilities | ||
| Noninterest-bearing deposits | 375,967 | 351,579 |
| Interest-bearing deposits | 930,112 | 871,733 |
| Total deposits | 1,306,079 | 1,223,312 |
| Short-term borrowings | 96,781 | 97,528 |
| Net amounts in consolidated balance sheet, liability | 14,492 | 13,920 |
| Accrued expenses and other liabilities | 57,189 | 59,445 |
| Long-term debt | 255,077 | 199,536 |
| Total liabilities | 1,729,618 | 1,593,741 |
| Equity | ||
| Wells Fargo stockholders' equity: | ||
| Preferred stock | 24,551 | 22,214 |
| Common stock $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares | 9,136 | 9,136 |
| Additional paid-in capital | 60,234 | 60,714 |
| Retained earnings | 133,075 | 120,866 |
| Cumulative other comprehensive income (loss) | (3,137) | 297 |
| Treasury stock 465,702,148 shares and 389,682,664 shares | (22,713) | (18,867) |
| Unearned ESOP shares | (1,565) | (1,362) |
| Total Wells Fargo stockholders' equity | 199,581 | 192,998 |
| Noncontrolling interests | 916 | 893 |
| Total equity | 200,497 | 193,891 |
| Total liabilities and equity | 1,930,115 | 1,787,632 |
| [1] (2)Parenthetical amounts represent assets and liabilities for which we have elected the fair value option. | ||
| [2] (1)Prior period has been revised to conform to the current period presentation of reporting derivative assets and liabilities separately. See Note 1 (Summary of Significant Accounting Policies) for more information. | ||
| [3] (3)Our consolidated assets at December 31, 2016 and 2015, 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, $168 million and $157 million; Federal funds sold, securities purchased under resale agreements and other short-term investments, $74 million and $0 million; Trading assets, $130 million and $0 million; Investment securities, $0 million and $425 million; Net loans, $12.6 billion and $4.8 bil | ||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2016 | |
| 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 |