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: 2022 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 21, 2023) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Supplemental Income Statement Elements [Abstract] | |||
| Interest income | |||
| Debt securities | $ 11,781 | 9,253 | 11,234 |
| Loans held for sale | 513 | 865 | 947 |
| Loans | 37,715 | 28,634 | 34,230 |
| Equity securities | 707 | 608 | 554 |
| Other interest income | 3,308 | 334 | 954 |
| Total interest income | 54,024 | 39,694 | 47,919 |
| Interest expense | |||
| Deposits | 2,349 | 388 | 2,804 |
| Short-term borrowings | 582 | (41) | 250 |
| Long-term debt | 5,505 | 3,173 | 4,471 |
| Other interest expense | 638 | 395 | 438 |
| Total interest expense | 9,074 | 3,915 | 7,963 |
| Net interest income | 44,950 | 35,779 | 39,956 |
| Noninterest income | |||
| Deposit and lending-related fees | 6,713 | 6,920 | 6,602 |
| Card fees | 4,355 | 4,175 | 3,544 |
| Mortgage banking | 1,383 | 4,956 | 3,493 |
| Net gains from trading and securities | 1,461 | 7,264 | 2,710 |
| Other | 2,238 | 3,734 | 3,847 |
| Total noninterest income | 28,835 | 42,713 | 34,308 |
| Total revenue | 73,785 | 78,492 | 74,264 |
| Provision for credit losses | 1,534 | (4,155) | 14,129 |
| Noninterest expense | |||
| Personnel | 34,340 | 35,541 | 34,811 |
| Technology, telecommunications and equipment | 3,375 | 3,227 | 3,099 |
| Occupancy | 2,881 | 2,968 | 3,263 |
| Operating losses | 6,984 | 1,568 | 3,523 |
| Professional and outside services | 5,188 | 5,723 | 6,706 |
| Advertising and promotion | 505 | 600 | 600 |
| Restructuring charges | 5 | 76 | 1,499 |
| Other | 4,004 | 4,128 | 4,129 |
| Total noninterest expense | 57,282 | 53,831 | 57,630 |
| Income before income tax expense | 14,969 | 28,816 | 2,505 |
| Income tax expense (benefit) | 2,087 | 5,578 | (1,157) |
| Net income before noncontrolling interests | 12,882 | 23,238 | 3,662 |
| Less: Net income (loss) from noncontrolling interests | (300) | 1,690 | 285 |
| Wells Fargo net income | 13,182 | 21,548 | 3,377 |
| Less: Preferred stock dividends and other | 1,115 | 1,292 | 1,591 |
| Wells Fargo net income applicable to common stock | 12,067 | 20,256 | 1,786 |
| Per share information | |||
| Earnings per common share (in dollars per share) | 3.17 | 4.99 | 0.43 |
| Diluted earnings per common share (in dollars per share) | 3.14 | 4.95 | 0.43 |
| Average common shares outstanding (in shares) | 3,805,200 | 4,061,900 | 4,118,000 |
| Diluted average common shares outstanding (in shares) | 3,837,000 | 4,096,200 | 4,134,200 |
| Product and Service | |||
| Investment advisory and other asset-based fees | |||
| Fee income | 9,004 | 11,011 | 9,863 |
| Commissions and brokerage services fees | |||
| Fee income | 2,242 | 2,299 | 2,384 |
| Investment banking fees | |||
| Fee income | 1,439 | 2,354 | 1,865 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
WELLS FARGO & COMPANY/MN | |||
Ticker: WFC Fiscal Year: 2022 | |||
Consolidated Statement of Comprehensive Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 21, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Supplemental Income Statement Elements [Abstract] | |||
| Net income before noncontrolling interests | $ 12,882 | 23,238 | 3,662 |
| Other comprehensive income (loss), after tax: | |||
| Net change in debt securities | (10,500) | (2,375) | 1,487 |
| Net change in derivatives and hedging activities | (1,090) | 159 | 149 |
| Defined benefit plans adjustments | 154 | 349 | (181) |
| Other | (241) | (30) | 50 |
| Other comprehensive income (loss), after tax | (11,677) | (1,897) | 1,505 |
| Total comprehensive income before noncontrolling interests | 1,205 | 21,341 | 5,167 |
| Less: Other comprehensive income (loss) from noncontrolling interests | 2 | (1) | 0 |
| Less: Net income (loss) from noncontrolling interests | (300) | 1,690 | 285 |
| Wells Fargo comprehensive income | 1,503 | 19,652 | 4,882 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
WELLS FARGO & COMPANY/MN | |||
Ticker: WFC Fiscal Year: 2022 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 21, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Cash flows from operating activities: | |||
| Net income before noncontrolling interests | $ 12,882 | 23,238 | 3,662 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 1,534 | (4,155) | 14,129 |
| Changes in fair value of MSRs and LHFS carried at fair value | (1,326) | (1,188) | 4,321 |
| Depreciation, amortization and accretion | 6,832 | 7,890 | 8,219 |
| Deferred income tax expense (benefit) | 1,075 | (1,292) | (3,289) |
| Other, net | (14,524) | (12,194) | 7,024 |
| Originations and purchases of loans held for sale | (74,910) | (158,923) | (181,961) |
| Proceeds from sales of and paydowns on loans originally classified as held for sale | 65,418 | 101,293 | 122,592 |
| Net change in: | |||
| Debt and equity securities, held for trading | 31,579 | 19,334 | 43,214 |
| Derivative assets and liabilities | 7,856 | (2,472) | (5,492) |
| Other assets | (9,137) | 15,477 | (12,304) |
| Other accrued expenses and liabilities | (231) | 1,467 | 1,936 |
| Net cash provided (used) by operating activities | 27,048 | (11,525) | 2,051 |
| Cash flows from investing activities: | |||
| Net change in: | |||
| Federal funds sold and securities purchased under resale agreements | (704) | (551) | 36,468 |
| Available-for-sale debt securities: | |||
| Proceeds from sales | 16,895 | 17,958 | 48,638 |
| Paydowns and maturities | 19,791 | 75,701 | 78,174 |
| Purchases | (40,104) | (110,431) | (91,545) |
| Held-to-maturity debt securities: | |||
| Paydowns and maturities | 27,666 | 79,517 | 36,641 |
| Purchases | (2,360) | (71,245) | (46,755) |
| Equity securities, not held for trading: | |||
| Proceeds from sales and capital returns | 4,326 | 4,933 | 12,187 |
| Purchases | (6,984) | (7,680) | (8,677) |
| Loans: | |||
| Loans originated by banking subsidiaries, net of principal collected | (74,861) | (28,809) | 53,718 |
| Proceeds from sales of loans originally classified as held for investment | 12,446 | 31,847 | 9,359 |
| Purchases of loans | (741) | (389) | (1,313) |
| Principal collected on nonbank entities loans | 5,173 | 8,985 | 7,927 |
| Loans originated by nonbank entities | (3,824) | (11,237) | (13,052) |
| Other, net | 805 | 3,782 | 784 |
| Net cash provided (used) by investing activities | (42,476) | (7,619) | 122,554 |
| Cash flows from financing activities: | |||
| Net change in: | |||
| Deposits | (98,494) | 78,582 | 81,755 |
| Short-term borrowings | 16,564 | (24,590) | (45,513) |
| Long-term debt: | |||
| Proceeds from issuance | 53,737 | 1,275 | 38,136 |
| Repayment | (19,587) | (47,134) | (65,347) |
| Preferred stock: | |||
| Proceeds from issuance | 0 | 5,756 | 3,116 |
| Redeemed | 0 | (6,675) | (3,602) |
| Cash dividends paid | (1,115) | (1,205) | (1,290) |
| Common stock: | |||
| Repurchased | (6,033) | (14,464) | (3,415) |
| Cash dividends paid | (4,178) | (2,422) | (4,852) |
| Other, net | (539) | (361) | (231) |
| Net cash used by financing activities | (59,645) | (11,238) | (1,243) |
| Net change in cash, cash equivalents, and restricted cash | (75,073) | (30,382) | 123,362 |
| Cash, cash equivalents, and restricted cash at beginning of period | 234,230 | 264,612 | |
| Cash, cash equivalents, and restricted cash at end of period | 159,157 | 234,230 | 264,612 |
| Supplemental cash flow disclosures: | |||
| Cash paid for interest | 8,289 | 4,384 | 8,414 |
| Cash paid for income taxes, net | 3,376 | 3,166 | 1,175 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
WELLS FARGO & COMPANY/MN | ||
Ticker: WFC Fiscal Year: 2022 | ||
Consolidated Balance Sheet | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 21, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Supplemental Income Statement Elements [Abstract] | ||
| Assets | ||
| Cash and due from banks | $ 34,596 | 24,616 |
| Interest-earning deposits with banks | 124,561 | 209,614 |
| Total cash, cash equivalents, and restricted cash | 159,157 | 234,230 |
| Federal funds sold and securities purchased under resale agreements | 68,036 | 66,223 |
| Trading, at fair value | 86,155 | 88,265 |
| Available-for-sale, at fair value | 113,594 | 177,244 |
| Held-to-maturity, at amortized cost, net of allowance for credit losses | 297,059 | 272,022 |
| Loans held for sale | 7,104 | 23,617 |
| Total loans | 955,871 | 895,394 |
| Allowance for loan losses | (12,985) | (12,490) |
| Net loans | 942,886 | 882,904 |
| Mortgage servicing rights | 10,480 | 8,189 |
| Premises and equipment, net | 8,350 | 8,571 |
| Goodwill | 25,173 | 25,180 |
| Derivative assets | 22,774 | 21,478 |
| Equity securities | 64,414 | 72,886 |
| Other assets | 75,834 | 67,259 |
| Total assets | 1,881,016 | 1,948,068 |
| Liabilities | ||
| Noninterest-bearing deposits | 458,010 | 527,748 |
| Interest-bearing deposits | 925,975 | 954,731 |
| Total deposits | 1,383,985 | 1,482,479 |
| Short-term borrowings | 51,145 | 34,409 |
| Derivative liabilities | 20,085 | 9,424 |
| Accrued expenses and other liabilities | 69,056 | 70,957 |
| Long-term debt | 174,870 | 160,689 |
| Total liabilities | 1,699,141 | 1,757,958 [1] |
| Equity | ||
| Wells Fargo stockholders equity: | ||
| Preferred stock | 19,448 | 20,057 |
| Common stock | 9,136 | 9,136 |
| Additional paid-in capital | 60,319 | 60,196 |
| Retained earnings | 187,649 | 180,322 |
| Accumulated other comprehensive loss | (13,381) | (1,702) |
| Treasury stock, at cost | (82,853) | (79,757) |
| Unearned ESOP shares | (429) | (646) |
| Total Wells Fargo stockholders equity | 179,889 | 187,606 |
| Noncontrolling interests | 1,986 | 2,504 |
| Total equity | 181,875 | 190,110 |
| Total liabilities and equity | 1,881,016 | 1,948,068 |
| [1] Our consolidated liabilities at December 31, 2022 and 2021, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Long-term debt, $0 million and $149 million; All other liabilities, $201 million and $259 million; and Total liabilities, $201 million and $408 million, respectively. | ||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2022 | |
| 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 |