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. | |||
| 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 |