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: 2011 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Interest income | |||
| Trading assets | $ 1,440 | 1,098 | 918 |
| Securities available for sale | 8,475 | 9,666 | 11,319 |
| Mortgages held for sale | 1,644 | 1,736 | 1,930 |
| Loans held for sale | 58 | 101 | 183 |
| Loans | 37,247 | 39,760 | 41,589 |
| Other interest income | 548 | 435 | 335 |
| Total interest income | 49,412 | 52,796 | 56,274 |
| Interest expense | |||
| Deposits | 2,275 | 2,832 | 3,774 |
| Short-term borrowings | 80 | 92 | 222 |
| Long-term debt | 3,978 | 4,888 | 5,782 |
| Other interest expense | 316 | 227 | 172 |
| Total interest expense | 6,649 | 8,039 | 9,950 |
| Net interest income | 42,763 | 44,757 | 46,324 |
| Provision for credit losses | 7,899 | 15,753 | 21,668 |
| Net interest income after provision for credit losses | 34,864 | 29,004 | 24,656 |
| Noninterest income | |||
| Service charges on deposit accounts | 4,280 | 4,916 | 5,741 |
| Trust and investment fees | 11,304 | 10,934 | 9,735 |
| Card fees | 3,653 | 3,652 | 3,683 |
| Other fees | 4,193 | 3,990 | 3,804 |
| Mortgage banking | 7,832 | 9,737 | 12,028 |
| Insurance | 1,960 | 2,126 | 2,126 |
| Net gains (losses) from trading activities | 1,014 | 1,648 | 2,674 |
| Net gains (losses) on debt securities available for sale | 54 [1] | (324) | (127) |
| Net gains from equity investments | 1,482 [2] | 779 | 185 |
| Operating leases | 524 | 815 | 685 |
| Other | 1,889 | 2,180 | 1,828 |
| Total noninterest income | 38,185 | 40,453 | 42,362 |
| Noninterest expense | |||
| Salaries | 14,462 | 13,869 | 13,757 |
| Commission and incentive compensation | 8,857 | 8,692 | 8,021 |
| Employee benefits | 4,348 | 4,651 | 4,689 |
| Equipment | 2,283 | 2,636 | 2,506 |
| Net occupancy | 3,011 | 3,030 | 3,127 |
| Core deposit and other intangibles | 1,880 | 2,199 | 2,577 |
| FDIC and other deposit assessments | 1,266 | 1,197 | 1,849 |
| Other | 13,286 | 14,182 | 12,494 |
| Total noninterest expense | 49,393 | 50,456 | 49,020 |
| Income before income tax expense | 23,656 | 19,001 | 17,998 |
| Income tax expense | 7,445 | 6,338 | 5,331 |
| Net income before noncontrolling interests | 16,211 | 12,663 | 12,667 |
| Less: Net income from noncontrolling interests | 342 | 301 | 392 |
| Wells Fargo net income | 15,869 | 12,362 | 12,275 |
| Less: Preferred stock dividends and other | 844 | 730 | 4,285 |
| Wells Fargo net income applicable to common stock | 15,025 | 11,632 | 7,990 |
| Per share information | |||
| Earnings per common share | 2.85 | 2.23 | 1.76 |
| Diluted earnings per common share | 2.82 | 2.21 | 1.75 |
| Dividends declared per common share | 0.48 | 0.20 | 0.49 |
| Average common shares outstanding | 5,278,100 | 5,226,800 | 4,545,200 |
| Diluted average common shares outstanding | 5,323,400 | 5,263,100 | 4,562,700 |
| [1] Total other-than-temporary impairment (OTTI) losses (gains) were $349 million, $500 million and $2,352 million for the year ended December 31, 2011, 2010 and 2009, respectively. Of total OTTI, $423 million, $672 million and $1,012 million were recognized in earnings, and $(74) million, $(172) million and $1,340 million were recognized as non-credit related OTTI in other comprehensive income for the year ended December 31, 2011, 2010 and 2009, respectively. | |||
| [2] Includes OTTI losses of $288 million, $268 million and $655 million for the year ended December 31, 2011, 2010 and 2009, respectively. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
WELLS FARGO & COMPANY/MN | |||
Ticker: WFC Fiscal Year: 2011 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | |
| Cash flows from operating activities: | |||
| Net income (loss) before noncontrolling interests | $ 16,211 | 12,663 | 12,667 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for Loan, Lease, and Other Losses | 7,899 | 15,753 | 21,668 |
| Changes in fair value of MSRs (residential), MHFS and LHFS carried at fair value | (295) | (1,025) | (20) |
| Depreciation and amortization | 2,208 | 1,924 | 2,841 |
| Other net losses (gains) | 3,273 | 1,345 | (3,867) |
| Preferred stock released by ESOP | 959 | 796 | 106 |
| Stock incentive compensation expense | 529 | 436 | 245 |
| Excess tax benefits related to stock option payments | (79) | (98) | (18) |
| Originations of MHFS | (345,099) | (370,175) | (414,299) |
| Proceeds from sales of and principal collected on mortgages originated for sale | 298,524 | 355,325 | 399,261 |
| Originations of LHFS | (5) | (4,596) | (10,800) |
| Proceeds from sales of and principal collected on LHFS | 11,833 | 17,828 | 20,276 |
| Purchases of LHFS | (11,723) | (7,470) | (8,614) |
| Net change in: | |||
| Trading assets | 35,149 | 12,356 | 13,983 |
| Deferred income taxes | 3,573 | 4,287 | 9,453 |
| Accrued interest receivable | (401) | 1,051 | (293) |
| Accrued interest payable | (362) | (268) | (1,028) |
| Other assets, net | (11,529) | (19,631) | (15,018) |
| Other accrued expenses and liabilities, net | 3,000 | (1,729) | 2,070 |
| Net cash provided (used) by operating activities | 13,665 | 18,772 | 28,613 |
| Cash flows from investing activities: | |||
| Net change in Federal funds sold, securities purchased under resale agreements and other short term investments | 36,270 | (39,752) | 8,548 |
| Securities available for sale: | |||
| Sales proceeds | 23,062 | 8,668 | 53,038 |
| Prepayments and maturities | 52,618 | 47,919 | 38,811 |
| Purchases | (121,235) | (53,466) | (95,285) |
| Loans: | |||
| Loans originated by banking subsidiaries, net of principal collected | (35,686) | 15,869 | 52,240 |
| Proceeds from sales (including participations) of loans originated for investment by banking subsidiaries | 6,555 | 6,517 | 6,162 |
| Purchases (including participations) of loans by banking subsidiaries | (8,878) | (2,297) | (3,363) |
| Principal collected on nonbank entities' loans | 9,782 | 15,560 | 14,428 |
| Loans originated by nonbank entities | (7,522) | (10,836) | (9,961) |
| Net cash paid for acquisitions | (353) | (36) | (138) |
| Proceeds from sales of foreclosed assets | 10,655 | 5,444 | 3,759 |
| Changes in MSRs from purchases and sales | (155) | (65) | (10) |
| Other, net | (157) | 2,800 | 3,556 |
| Net cash provided (used) by investing activities | (35,044) | (3,675) | 71,785 |
| Cash flows from financing activities: | |||
| Net change in deposits | 72,128 | 23,924 | 42,473 |
| Net change in short-term borrowings | (6,231) | 11,308 | (69,108) |
| Long-term debt: | |||
| Proceeds from issuance | 11,687 | 3,489 | 8,396 |
| Repayment | (50,555) | (63,317) | (66,260) |
| Preferred stock: | |||
| Proceeds from issuance | 2,501 | 0 | 0 |
| Cash dividends paid | (844) | (737) | (2,178) |
| Redeemed | 0 | 0 | (25,000) |
| Common stock: | |||
| Proceeds from issuance | 1,296 | 1,375 | 21,976 |
| Repurchased | (2,416) | (91) | (220) |
| Cash dividends paid | (2,537) | (1,045) | (2,125) |
| Stock warrants: | |||
| Common stock warrants repurchased | (2) | (545) | 0 |
| Excess tax benefits related to stock option payments | 79 | 98 | 18 |
| Net change in noncontrolling interests: | |||
| Cash paid for purchase of Prudential's noncontrolling interest | 0 | 0 | (4,500) |
| Other | (331) | (592) | (553) |
| Net cash provided (used) by financing activities | 24,775 | (26,133) | (97,081) |
| Net change in cash and due from banks | 3,396 | (11,036) | 3,317 |
| Cash and due from banks at beginning of year | 16,044 | 27,080 | 23,763 |
| Cash and due from banks at end of year | 19,440 | 16,044 | 27,080 |
| Supplemental cash flow disclosures: | |||
| Cash paid for interest | 7,011 | 8,307 | 10,978 |
| Cash paid for income taxes | 4,875 | 1,187 | 3,042 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
WELLS FARGO & COMPANY/MN | ||
Ticker: WFC Fiscal Year: 2011 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2011 10-K (Filed: Feb 28, 2012) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2011 | Dec 31, 2010 | |
| Assets | ||
| Cash and Due from Banks | $ 19,440 | 16,044 |
| Federal funds sold, securities purchased under resale agreements and other short-term investments | 44,367 | 80,637 |
| Trading assets | 77,814 | 51,414 |
| Securities available for sale | 222,613 | 172,654 |
| Mortgages held for sale (includes $44,791 and $47,531 carried at fair value) | 48,357 | 51,763 |
| Loans held for sale (includes $1,176 and $873 carried at fair value) | 1,338 | 1,290 |
| Loans (includes $5,916 and $309 carried at fair value) | 769,631 | 757,267 |
| Allowance for loan losses | (19,372) | (23,022) |
| Net loans | 750,259 | 734,245 |
| Mortgage servicing rights: | ||
| Measured at fair value | 12,603 | 14,467 |
| Amortized | 1,408 | 1,419 |
| Premises and equipment, net | 9,531 | 9,644 |
| Goodwill | 25,115 | 24,770 |
| Other assets | 101,022 | 99,781 |
| Total assets | 1,313,867 [1] | 1,258,128 |
| Liabilities | ||
| Noninterest-bearing deposits | 244,003 | 191,256 |
| Interest-bearing deposits | 676,067 | 656,686 |
| Total deposits | 920,070 | 847,942 |
| Short-term borrowings | 49,091 | 55,401 |
| Accrued expenses and other liabilities | 77,665 | 69,913 |
| Long-term debt (includes $0 and $306 carried at fair value) | 125,354 | 156,983 |
| Total liabilities | 1,172,180 [2] | 1,130,239 |
| Equity | ||
| Wells Fargo stockholders' equity: | ||
| Preferred stock | 11,431 | 8,689 |
| Common stock - $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,358,522,061 shares and 5,272,414,622 shares | 8,931 | 8,787 |
| Additional paid-in capital | 55,957 | 53,426 |
| Retained earnings | 64,385 | 51,918 |
| Cumulative other comprehensive income | 3,207 | 4,738 |
| Treasury stock - 95,910,425 shares and 10,131,394 shares | (2,744) | (487) |
| Unearned ESOP shares | (926) | (663) |
| Total Wells Fargo stockholders' equity | 140,241 | 126,408 |
| Noncontrolling interests | 1,446 | 1,481 |
| Total equity | 141,687 | 127,889 |
| Total liabilities and equity | 1,313,867 | 1,258,128 |
| [2] Our consolidated liabilities at December 31, 2011 and at December 31, 2010, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Short-term borrowings, $24 million and $7 million; Accrued expenses and other liabilities, $175 million and $98 million; Long-term debt, $4.9 billion and $8.3 billion; and Total liabilities, $5.1 billion and $8.4 billion. | ||
| [1] Our consolidated assets at December 31, 2011 and at December 31, 2010, 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, $321 million and $200 million; Trading assets, $293 million and $143 million; Securities available for sale, $3.3 billion and $2.2 billion; Mortgages held for sale, $444 million and $634 million; Net loans, $12.0 billion and $16.7 billion; Other assets, $1.9 billion and $2.1 bil | ||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2011 | |
| 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 |