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: 2021 | |||
Consolidated Statement of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 22, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash flows from operating activities: | |||
| Net income before noncontrolling interests | $ 23,238 | 3,662 | 20,206 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Provision for credit losses | (4,155) | 14,129 | 2,687 |
| Changes in fair value of MSRs and LHFS carried at fair value | (1,188) | 4,321 | 3,702 |
| Depreciation, amortization and accretion | 7,890 | 8,219 | 6,573 [1] |
| Deferred income tax benefit | (1,292) | (3,289) | (3,192) |
| Other, net | (12,194) | 7,024 | (3,239) |
| Originations and purchases of loans held for sale | (158,923) | (181,961) | (159,309) |
| Proceeds from sales of and paydowns on loans originally classified as held for sale | 101,293 | 122,592 | 114,155 |
| Net change in: | |||
| Debt and equity securities, held for trading | 19,334 | 43,214 | 22,066 |
| Derivative assets and liabilities | (2,472) | (5,492) | (2,665) |
| Other assets | 15,477 | (12,304) | 3,034 |
| Other accrued expenses and liabilities | 1,467 | 1,936 | 2,712 |
| Net cash provided (used) by operating activities | (11,525) | 2,051 | 6,730 |
| Cash flows from investing activities: | |||
| Net change in: | |||
| Federal funds sold and securities purchased under resale agreements | (551) | 36,468 | (21,933) |
| Available-for-sale debt securities: | |||
| Proceeds from sales | 17,958 | 48,638 | 9,386 |
| Prepayments and maturities | 75,701 | 78,174 | 46,542 |
| Purchases | (110,431) | (91,545) | (57,015) |
| Held-to-maturity debt securities: | |||
| Paydowns and maturities | 79,517 | 36,641 | 13,684 |
| Purchases | (71,245) | (46,755) | (8,649) |
| Equity securities, not held for trading: | |||
| Proceeds from sales and capital returns | 4,933 | 12,187 | 6,143 |
| Purchases | (7,680) | (8,677) | (6,865) |
| Loans: | |||
| Loans originated by banking subsidiaries, net of principal collected | (28,809) | 53,718 | (23,698) |
| Proceeds from sales of loans originally classified as held for investment | 31,847 | 9,359 | 12,038 |
| Purchases of loans | (389) | (1,313) | (2,033) |
| Principal collected on nonbank entities loans | 8,985 | 7,927 | 3,912 |
| Loans originated by nonbank entities | (11,237) | (13,052) | (5,274) |
| Other, net | 3,782 | 784 | 4,131 |
| Net cash provided (used) by investing activities | (7,619) | 122,554 | (29,631) |
| Cash flows from financing activities: | |||
| Net change in: | |||
| Deposits | 78,582 | 81,755 | 36,137 |
| Short-term borrowings | (24,590) | (45,513) | (1,275) |
| Long-term debt: | |||
| Proceeds from issuance | 1,275 | 38,136 | 53,381 |
| Repayment | (47,134) | (65,347) | (60,996) |
| Preferred stock: | |||
| Proceeds from issuance | 5,756 | 3,116 | 0 |
| Redeemed | (6,675) | (3,602) | (1,550) |
| Cash dividends paid | (1,205) | (1,290) | (1,391) |
| Common stock: | |||
| Repurchased | (14,464) | (3,415) | (24,533) |
| Cash dividends paid | (2,422) | (4,852) | (8,198) |
| Other, net | (361) | (231) | (711) [2] |
| Net cash used by financing activities | (11,238) | (1,243) | (9,136) |
| Net change in cash, cash equivalents, and restricted cash | (30,382) | 123,362 | (32,037) |
| Cash, cash equivalents, and restricted cash at beginning of period | 264,612 | 141,250 | |
| Cash, cash equivalents, and restricted cash at end of period | 234,230 | 264,612 | 141,250 |
| Supplemental cash flow disclosures: | |||
| Cash paid for interest | 4,384 | 8,414 | 18,834 |
| Cash paid for income taxes, net | 3,166 | 1,175 | 7,493 |
| [1] In second quarter 2021, we elected to change our accounting method for low-income housing tax credit investments and elected to change the presentation of investment tax credits related to solar energy investments. Prior period balances have been revised to conform with the current period presentation. For additional information, see Note 1 (Summary of Significant Accounting Policies). | |||
| [2] Prior period balances have been revised to conform with the current period presentation. | |||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2021 | |
| 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 |