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: 2014 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2014 10-K (Filed: Feb 25, 2015) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2014 | Dec 31, 2013 | Dec 31, 2012 | |
| Interest income | |||
| Trading assets | $ 1,685 | 1,376 | 1,358 |
| Investment securities | 8,438 | 8,116 | 8,098 |
| Mortgages held for sale | 767 | 1,290 | 1,825 |
| Loans held for sale | 78 | 13 | 41 |
| Loans | 35,652 | 35,571 | 36,482 |
| Other interest income | 932 | 723 | 587 |
| Total interest income | 47,552 | 47,089 | 48,391 |
| Interest expense | |||
| Deposits | 1,096 | 1,337 | 1,727 |
| Short-term borrowings | 59 | 60 | 79 |
| Long-term debt | 2,488 | 2,585 | 3,110 |
| Other interest expense | 382 | 307 | 245 |
| Total interest expense | 4,025 | 4,289 | 5,161 |
| Net interest income | 43,527 | 42,800 | 43,230 |
| Provision for credit losses | 1,395 | 2,309 | 7,217 |
| Net interest income after provision for credit losses | 42,132 | 40,491 | 36,013 |
| Noninterest income | |||
| Service charges on deposit accounts | 5,050 | 5,023 | 4,683 |
| Trust and investment fees | 14,280 | 13,430 | 11,890 |
| Card fees | 3,431 | 3,191 | 2,838 |
| Other fees | 4,349 | 4,340 | 4,519 |
| Mortgage banking | 6,381 | 8,774 | 11,638 |
| Insurance | 1,655 | 1,814 | 1,850 |
| Net gains from trading activities | 1,161 | 1,623 | 1,707 |
| Net gains (losses) on debt securities | 593 [1] | (29) | (128) |
| Net gains from equity investments | 2,380 | 1,472 [2] | 1,485 |
| Lease income | 526 | 663 | 567 |
| Other | 1,014 | 679 | 1,807 |
| Total noninterest income | 40,820 | 40,980 | 42,856 |
| Noninterest expense | |||
| Salaries | 15,375 | 15,152 | 14,689 |
| Commission and incentive compensation | 9,970 | 9,951 | 9,504 |
| Employee benefits | 4,597 | 5,033 | 4,611 |
| Equipment | 1,973 | 1,984 | 2,068 |
| Net occupancy | 2,925 | 2,895 | 2,857 |
| Core deposit and other intangibles | 1,370 | 1,504 | 1,674 |
| FDIC and other deposit assessments | 928 | 961 | 1,356 |
| Other | 11,899 | 11,362 | 13,639 |
| Total noninterest expense | 49,037 | 48,842 | 50,398 |
| Income before income tax expense | 33,915 | 32,629 | 28,471 |
| Income tax expense | 10,307 | 10,405 | 9,103 |
| Net income before noncontrolling interests | 23,608 | 22,224 | 19,368 |
| Less: Net income from noncontrolling interests | 551 | 346 | 471 |
| Wells Fargo net income | 23,057 | 21,878 | 18,897 |
| Less: Preferred stock dividends and other | 1,236 | 989 | 898 |
| Wells Fargo net income applicable to common stock | 21,821 | 20,889 | 17,999 |
| Per share information | |||
| Earnings per common share (in dollars per share) | 4.17 | 3.95 | 3.40 |
| Diluted earnings per common share (in dollars per share) | 4.10 | 3.89 | 3.36 |
| Dividends declared per common share (in dollars per share) | 1.35 | 1.15 | 0.88 |
| Average common shares outstanding | 5,237,200 | 5,287,300 | 5,287,600 |
| Diluted average common shares outstanding | 5,324,400 | 5,371,200 | 5,351,500 |
| [2] Includes OTTI losses of $273 million, $186 million and $176 million for the year ended December 31, 2014, 2013 and 2012, respectively. | |||
| [1] Total other-than-temporary impairment (OTTI) losses were $18 million, $39 million and $3 million for the year ended December 31, 2014, 2013 and 2012, respectively. Of total OTTI, losses of $49 million, $158 million and $240 million were recognized in earnings, and reversal of losses of $(31) million, $(119) million and $(237) million were recognized as non-credit-related OTTI in other comprehensive income for the year ended December 31, 2014, 2013 and 2012, respectively. | |||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2014 | |
| 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 |