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: 2018 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 27, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| Cash flows from operating activities: | |||
| Net income before noncontrolling interests | $ 22,876 | 22,460 | 22,045 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | 1,744 | 2,528 | 3,770 |
| Changes in fair value of MSRs, MLHFS and LHFS carried at fair value | 453 | 886 | 139 |
| Depreciation, amortization and accretion | 5,593 | 5,406 | 4,970 |
| Other net gains (1) | (7,630) | (1,518) | (6,337) |
| Stock-based compensation | 2,255 | 2,046 | 1,945 |
| Originations and purchases of mortgage loans held for sale (1) | (152,832) | (181,269) | (205,300) |
| Proceeds from sales of and paydowns on mortgages loans held for sale (1) | 119,097 | 134,984 | 127,479 |
| Net change in: | |||
| Debt and equity securities, held for trading (1) | 35,054 | 33,505 | 63,309 |
| Loans held for sale (1) | (960) | 327 [1] | (451) |
| Deferred income taxes | 1,970 | 666 | 1,793 |
| Derivative assets and liabilities | 1,513 | (5,025) | 2,089 |
| Other assets (1) | 7,805 | (1,214) | (14,232) |
| Other accrued expenses and liabilities | (865) | 4,837 | (211) |
| Net cash provided by operating activities | 36,073 | 18,619 | 1,008 |
| Cash flows from investing activities: | |||
| Net change in: | |||
| Federal funds sold and securities purchased under resale agreements (2) | (1,184) | (21,497) | (15,747) |
| Available-for-sale debt securities: | |||
| Proceeds from sales (1) | 7,320 | 42,067 | 30,958 |
| Prepayments and maturities (1) | 36,725 | 45,688 | 40,998 |
| Purchases (1) | (60,067) | (103,656) | (120,978) |
| Held-to-maturity securities: | |||
| Paydowns and maturities | 10,934 | 10,673 | 7,957 |
| Purchases | 0 | 0 | (23,593) |
| Equity securities, not held for trading: | |||
| Proceeds from sales and capital returns (1) | 6,242 | 5,451 | 3,711 |
| Purchases (1) | (6,433) | (3,735) | (5,383) |
| Loans: | |||
| Loans originated by banking subsidiaries, net of principal collected | (18,619) | 317 | (39,002) |
| Proceeds from sales (including participations) of loans held for investment | 16,294 | 10,439 | 10,061 |
| Purchases (including participations) of loans | (2,088) | (3,702) | (6,221) |
| Principal collected on nonbank entities loans | 6,791 | 7,448 | 6,844 |
| Loans originated by nonbank entities | (6,482) | (6,814) | (7,743) |
| Net cash paid for acquisitions | (10) | (320) | (30,584) |
| Proceeds from sales of foreclosed assets and short sales | 3,592 | 5,198 | 7,311 |
| Other, net (2) | (769) | (709) | (508) |
| Net cash used by investing activities | (7,754) | (13,152) | (141,919) |
| Cash flows from financing activities: | |||
| Net change in: | |||
| Deposits | (48,034) | 29,912 | 82,767 |
| Short-term borrowings | 2,531 | 14,020 | (1,198) |
| Long-term debt: | |||
| Proceeds from issuance | 47,595 | 43,575 | 90,111 |
| Repayment | (40,565) | (80,802) | (34,462) |
| Preferred stock: | |||
| Proceeds from issuance | 0 | 677 | 2,101 |
| Redeemed | (2,150) | 0 | 0 |
| Cash dividends paid | (1,622) | (1,629) | (1,566) |
| Common stock: | |||
| Proceeds from issuance | 632 | 1,211 | 1,415 |
| Stock tendered for payment of withholding taxes | (331) | (393) | (494) |
| Repurchased | (20,633) | (9,908) | (8,116) |
| Cash dividends paid | (7,692) | (7,480) | (7,472) |
| Net change in noncontrolling interests | (462) | 30 | (188) |
| Other, net | (248) | (133) | (107) |
| Net cash provided (used) by financing activities | (70,979) | (10,920) | 122,791 |
| Net change in cash, cash equivalents, and restricted cash (2) | (42,660) | (5,453) | (18,120) |
| Cash, cash equivalents, and restricted cash at beginning of year (2) | 215,947 | 221,400 [2] | 239,520 |
| Cash, cash equivalents, and restricted cash at end of year (2) | 173,287 | 215,947 | 221,400 [2] |
| Supplemental cash flow disclosures: | |||
| Cash paid for interest | 14,366 | 9,103 | 5,573 |
| Cash paid for income taxes | 1,977 | 6,592 | 8,446 |
| [1] (1)Financial information for the prior periods has been revised to reflect presentation changes made in connection with our adoption in first quarter 2018 of ASU 2016-01 Financial Instruments Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. See Note 1 (Summary of Significant Accounting Policies) for more information. | |||
| [2] (2)Financial information has been revised to reflect the impact of our adoption in first quarter 2018 of ASU 2016-18 Statement of Cash Flows (Topic 230): Restricted Cash in which we changed the presentation of our cash and cash equivalents to include both cash and due from banks as well as interest-earning deposits with banks, which are inclusive of any restricted cash. See Note 1 (Summary of Significant Accounting Policies) for more information. | |||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2018 | |
| 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 |