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: 2009 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2009 10-K (Filed: Feb 26, 2010) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
| Interest income | |||
| Trading assets | $ 918 | 177 | 173 |
| Securities available for sale | 11,319 | 5,287 | 3,451 |
| Mortgages held for sale | 1,930 | 1,573 | 2,150 |
| Loans held for sale | 183 | 48 | 70 |
| Loans | 41,589 | 27,632 | 29,040 |
| Other interest income | 335 | 181 | 293 |
| Total interest income | 56,274 | 34,898 | 35,177 |
| Interest expense | |||
| Deposits | 3,774 | 4,521 | 8,152 |
| Short-term borrowings | 222 | 1,478 | 1,245 |
| Long-term debt | 5,782 | 3,756 | 4,806 |
| Other interest expense | 172 | 0 | 0 |
| Total interest expense | 9,950 | 9,755 | 14,203 |
| Net interest income | 46,324 | 25,143 | 20,974 |
| Provision for credit losses | 21,668 | 15,979 | 4,939 |
| Net interest income after provision for credit losses | 24,656 | 9,164 | 16,035 |
| Noninterest income | |||
| Service charges on deposit accounts | 5,741 | 3,190 | 3,050 |
| Trust and investment fees | 9,735 | 2,924 | 3,149 |
| Card fees | 3,683 | 2,336 | 2,136 |
| Other fees | 3,804 | 2,097 | 2,292 |
| Mortgage banking | 12,028 | 2,525 | 3,133 |
| Insurance | 2,126 | 1,830 | 1,530 |
| Net gains from trading activities | 2,674 | 275 | 544 |
| Net gains (losses) on debt securities available for sale (includes impairment losses of $1,012, consisting of $2,352 of total other-than-temporary impairment losses, net of $1,340 recognized in other comprehensive income, for the year ended December 31, 2009) | (127) | 1,037 | 209 |
| Net gains (losses) from equity investments (includes impairment losses of $655 for the year ended December 31, 2009) | 185 | (757) | 864 |
| Operating leases | 685 | 427 | 703 |
| Other | 1,828 | 850 | 936 |
| Total noninterest income | 42,362 | 16,734 | 18,546 |
| Noninterest expense | |||
| Salaries | 13,757 | 8,260 | 7,762 |
| Commission and incentive compensation | 8,021 | 2,676 | 3,284 |
| Employee benefits | 4,689 | 2,004 | 2,322 |
| Equipment | 2,506 | 1,357 | 1,294 |
| Net occupancy | 3,127 | 1,619 | 1,545 |
| Core deposit and other intangibles | 2,577 | 186 | 158 |
| FDIC and other deposit assessments | 1,849 | 120 | 34 |
| Other | 12,494 | 6,376 | 6,347 |
| Total noninterest expense | 49,020 | 22,598 | 22,746 |
| Income before income tax expense | 17,998 | 3,300 | 11,835 |
| Income tax expense | 5,331 | 602 | 3,570 |
| Net income before noncontrolling interests | 12,667 | 2,698 | 8,265 |
| Less: Net income from noncontrolling interests | 392 | 43 | 208 |
| Wells Fargo net income | 12,275 | 2,655 | 8,057 |
| Wells Fargo net income applicable to common stock | 7,990 | 2,369 | 8,057 |
| Per share information | |||
| Earnings per common share | 1.76 | 0.70 | 2.41 |
| Diluted earnings per common share | 1.75 | 0.70 | 2.38 |
| Dividends declared per common share | 0.49 | 1.30 | 1.18 |
| Average common shares outstanding | 4,545,200 | 3,378,100 | 3,348,500 |
| Diluted average common shares outstanding | 4,562,700 | 3,391,300 | 3,382,800 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
WELLS FARGO & COMPANY/MN | |||
Ticker: WFC Fiscal Year: 2009 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2009 10-K (Filed: Feb 26, 2010) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
| Cash flows from operating activities: | |||
| Net income before noncontrolling interests | $ 12,667 | 2,698 | 8,265 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 21,668 | 15,979 | 4,939 |
| Changes in fair value of MSRs (residential), MHFS and LHFS carried at fair value | (20) | 3,789 | 2,611 |
| Depreciation and amortization | 2,841 | 1,669 | 1,532 |
| Other net losses (gains) | (3,867) | 2,065 | (1,407) |
| Preferred shares released to ESOP | 106 | 451 | 418 |
| Stock option compensation expense | 221 | 174 | 129 |
| Excess tax benefits related to stock option payments | (18) | (121) | (196) |
| Originations of MHFS | (414,299) | (213,498) | (223,266) |
| Proceeds from sales of and principal collected on mortgages originated for sale | 399,261 | 220,254 | 216,270 |
| Originations of LHFS | (10,800) | 0 | 0 |
| Proceeds from sales of and principal collected on LHFS | 20,276 | 0 | 0 |
| Purchases of LHFS | (8,614) | 0 | 0 |
| Net change in: | |||
| Trading assets | 13,983 | (3,045) | (3,388) |
| Deferred income taxes | 9,453 | (1,642) | (31) |
| Accrued interest receivable | (293) | (2,676) | (407) |
| Accrued interest payable | (1,028) | 1,634 | (87) |
| Other assets, net | (15,018) | (21,578) | (587) |
| Other accrued expenses and liabilities, net | 2,094 | (10,941) | 4,491 |
| Net cash provided (used) by operating activities | 28,613 | (4,788) | 9,286 |
| Cash flows from investing activities: | |||
| Net change in federal funds sold, securities purchased under resale agreements and other short-term investments | 8,548 | 51,049 | 3,331 |
| Securities available for sale: | |||
| Sales proceeds | 53,038 | 60,806 | 47,990 |
| Prepayments and maturities | 38,811 | 24,317 | 8,505 |
| Purchases | (95,285) | (105,341) | (75,129) |
| Loans: | |||
| Decrease (increase) in banking subsidiaries' loan originations, net of collections | 52,240 | (54,815) | (48,615) |
| Proceeds from sales (including participations) of loans originated for investment by banking subsidiaries | 6,162 | 1,988 | 3,369 |
| Purchases (including participations) of loans by banking subsidiaries | (3,363) | (5,513) | (8,244) |
| Principal collected on nonbank entities' loans | 14,428 | 21,846 | 21,476 |
| Loans originated by nonbank entities | (9,961) | (19,973) | (25,284) |
| Net cash acquired from (paid for) acquisitions | (138) | 11,203 | (2,811) |
| Proceeds from sales of foreclosed assets | 3,759 | 1,746 | 1,405 |
| Changes in MSRs from purchases and sales | (10) | 92 | 791 |
| Other, net | 3,556 | (5,566) | (4,131) |
| Net cash provided (used) by investing activities | 71,785 | (18,161) | (77,347) |
| Cash flows from financing activities: | |||
| Net change in Deposits | 42,473 | 7,697 | 27,058 |
| Net change in Short-term borrowings | (69,108) | (14,888) | 39,827 |
| Long-term debt: | |||
| Proceeds from issuance | 8,396 | 35,701 | 29,360 |
| Repayment | (66,260) | (29,859) | (18,250) |
| Preferred stock: | |||
| Proceeds from issuance | 0 | 22,674 | 0 |
| Redeemed | (25,000) | 0 | 0 |
| Cash dividends paid | (2,178) | 0 | 0 |
| Proceeds from issuance of stock warrant | 0 | 2,326 | 0 |
| Common stock: | |||
| Proceeds from issuance | 21,976 | 14,171 | 1,876 |
| Repurchased | (220) | (1,623) | (7,418) |
| Cash dividends paid | (2,125) | (4,312) | (3,955) |
| Excess tax benefits related to stock option payments | 18 | 121 | 196 |
| Change in noncontrolling interests: | |||
| Purchase of Prudential's noncontrolling interest | (4,500) | 0 | 0 |
| Other, net | (553) | (53) | (176) |
| Other, net | 0 | 0 | (728) |
| Net cash provided (used) by financing activities | (97,081) | 31,955 | 67,790 |
| Net change in cash and due from banks | 3,317 | 9,006 | (271) |
| Cash and due from banks at beginning of year | 23,763 | 14,757 | |
| Cash and due from banks at end of year | 27,080 | 23,763 | 14,757 |
| Supplemental cash flow disclosures: | |||
| Cash paid for interest | 10,978 | 8,121 | 14,290 |
| Cash paid for income taxes | 3,042 | 2,554 | 3,719 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
WELLS FARGO & COMPANY/MN | ||
Ticker: WFC Fiscal Year: 2009 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2009 10-K (Filed: Feb 26, 2010) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2009 | Dec 31, 2008 | |
| Assets | ||
| Cash and due from banks | $ 27,080 | 23,763 |
| Federal funds sold, securities purchased under resale agreements and other short-term investments | 40,885 | 49,433 |
| Trading assets | 43,039 | 54,884 |
| Securities available for sale | 172,710 | 151,569 |
| Mortgages held for sale (includes $36,962 and $18,754 carried at fair value) | 39,094 | 20,088 |
| Loans held for sale (includes $149 and $398 carried at fair value) | 5,733 | 6,228 |
| Loans | 782,770 | 864,830 |
| Allowance for loan losses | (24,516) | (21,013) |
| Net loans | 758,254 | 843,817 |
| Mortgage servicing rights: | ||
| Measured at fair value (residential MSRs) | 16,004 | 14,714 |
| Amortized | 1,119 | 1,446 |
| Premises and equipment, net | 10,736 | 11,269 |
| Goodwill | 24,812 | 22,627 |
| Other assets | 104,180 | 109,801 |
| Total assets | 1,243,646 | 1,309,639 |
| Liabilities | ||
| Noninterest-bearing deposits | 181,356 | 150,837 |
| Interest-bearing deposits | 642,662 | 630,565 |
| Total deposits | 824,018 | 781,402 |
| Short-term borrowings | 38,966 | 108,074 |
| Accrued expenses and other liabilities | 62,442 | 50,689 |
| Long-term debt | 203,861 | 267,158 |
| Total liabilities | 1,129,287 | 1,207,323 |
| Equity | ||
| Wells Fargo stockholders' equity: | ||
| Preferred stock | 8,485 | 31,332 |
| Common stock - $1-2/3 par value, authorized 6,000,000,000 shares; issued 5,245,971,422 shares and 4,363,921,429 shares | 8,743 | 7,273 |
| Additional paid-in capital | 52,878 | 36,026 |
| Retained earnings | 41,563 | 36,543 |
| Cumulative other comprehensive income (loss) | 3,009 | (6,869) |
| Treasury stock - 67,346,829 shares and 135,290,540 shares | (2,450) | (4,666) |
| Unearned ESOP shares | (442) | (555) |
| Total Wells Fargo stockholders' equity | 111,786 | 99,084 |
| Noncontrolling interests | 2,573 | 3,232 |
| Total equity | 114,359 | 102,316 |
| Total liabilities and equity | 1,243,646 | 1,309,639 |
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2009 | |
| 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 |