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: 2010 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Interest income | |||
| Trading assets | $ 1,098 | 918 | 177 |
| Securities available for sale | 9,666 | 11,319 | 5,287 |
| Mortgages held for sale | 1,736 | 1,930 | 1,573 |
| Loans held for sale | 101 | 183 | 48 |
| Loans | 39,760 | 41,589 | 27,632 |
| Other interest income | 435 | 335 | 181 |
| Total interest income | 52,796 | 56,274 | 34,898 |
| Interest expense | |||
| Deposits | 2,832 | 3,774 | 4,521 |
| Short-term borrowings | 92 | 222 | 1,478 |
| Long-term debt | 4,888 | 5,782 | 3,756 |
| Other interest expense | 227 | 172 | |
| Total interest expense | 8,039 | 9,950 | 9,755 |
| Net interest income | 44,757 | 46,324 | 25,143 |
| Provision for credit losses | 15,753 | 21,668 | 15,979 |
| Net interest income after provision for credit losses | 29,004 | 24,656 | 9,164 |
| Noninterest income | |||
| Service charges on deposit accounts | 4,916 | 5,741 | 3,190 |
| Trust and investment fees | 10,934 | 9,735 | 2,924 |
| Card fees | 3,652 | 3,683 | 2,336 |
| Other fees | 3,990 | 3,804 | 2,097 |
| Mortgage banking | 9,737 | 12,028 | 2,525 |
| Insurance | 2,126 | 2,126 | 1,830 |
| Net gains from trading activities | 1,648 | 2,674 | 275 |
| Net gains (losses) on debt securities available for sale | (324) | (127) | 1,037 [1] |
| Net gains (losses) from equity investments | 779 | 185 | (757) [2] |
| Operating leases | 815 | 685 | 427 |
| Other | 2,180 | 1,828 | 850 |
| Total noninterest income | 40,453 | 42,362 | 16,734 |
| Noninterest expense | |||
| Salaries | 13,869 | 13,757 | 8,260 |
| Commission and incentive compensation | 8,692 | 8,021 | 2,676 |
| Employee benefits | 4,651 | 4,689 | 2,004 |
| Equipment | 2,636 | 2,506 | 1,357 |
| Net occupancy | 3,030 | 3,127 | 1,619 |
| Core deposit and other intangibles | 2,199 | 2,577 | 186 |
| FDIC and other deposit assessments | 1,197 | 1,849 | 120 |
| Other | 14,182 | 12,494 | 6,376 |
| Total noninterest expense | 50,456 | 49,020 | 22,598 |
| Income before income tax expense | 19,001 | 17,998 | 3,300 |
| Income tax expense | 6,338 | 5,331 | 602 |
| Net income before noncontrolling interests | 12,663 | 12,667 | 2,698 |
| Less: Net income from noncontrolling interests | 301 | 392 | 43 |
| Wells Fargo net income | 12,362 | 12,275 | 2,655 |
| Less: Preferred stock dividends and accretion and other | 730 | 4,285 | 286 |
| Wells Fargo net income applicable to common stock | 11,632 | 7,990 | 2,369 |
| Per share information | |||
| Earnings per common share | 2.23 | 1.76 | 0.70 |
| Diluted earnings per common share | 2.21 | 1.75 | 0.70 |
| Dividends declared per common share | 0.20 | 0.49 | 1.30 |
| Average common shares outstanding | 5,226,800 | 4,545,200 | 3,378,100 |
| Diluted average common shares outstanding | 5,263,100 | 4,562,700 | 3,391,300 |
| [1] Includes other-than-temporary impairment losses of $xxx million and $1,012 million recognized in earnings, consisting of $xx million and $2,352 million of total other-than-temporary impairment losses, net of $xx million and $1,340 million recognized in other comprehensive income, for the years ended December 31, 2010 and 2009, respectively. | |||
| [2] Includes other-than-temporary impairment losses of $xx million and $655 million for the years ended December 31, 2010 and 2009, respectively. | |||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2010 | |
| 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 |