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: 2012 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2012 10-K (Filed: Feb 27, 2013) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | |
| Interest income | |||
| Trading assets | $ 1,358 | 1,440 | 1,098 |
| Securities available for sale | 8,098 | 8,475 | 9,666 |
| Mortgages held for sale | 1,825 | 1,644 | 1,736 |
| Loans held for sale | 41 | 58 | 101 |
| Loans | 36,482 | 37,247 | 39,760 |
| Other interest income | 587 | 548 | 435 |
| Total interest income | 48,391 | 49,412 | 52,796 |
| Interest expense: | |||
| Deposits | 1,727 | 2,275 | 2,832 |
| Short-term borrowings | 79 | 80 | 92 |
| Long-term debt | 3,110 | 3,978 | 4,888 |
| Other interest expense | 245 | 316 | 227 |
| Total interest expense | 5,161 | 6,649 | 8,039 |
| Net interest income | 43,230 | 42,763 | 44,757 |
| Provision for credit losses | 7,217 | 7,899 | 15,753 |
| Net interest income after provision for credit losses | 36,013 | 34,864 | 29,004 |
| Noninterest income | |||
| Service charges on deposit accounts | 4,683 | 4,280 | 4,916 |
| Trust and investment fees | 11,890 | 11,304 | 10,934 |
| Card fees | 2,838 | 3,653 | 3,652 |
| Other fees | 4,519 | 4,193 | 3,990 |
| Mortgage banking | 11,638 | 7,832 | 9,737 |
| Insurance | 1,850 | 1,960 | 2,126 |
| Net gains from trading activities | 1,707 | 1,014 | 1,648 |
| Net gains (losses) on debt securities available for sale | (128) [1] | 54 | (324) |
| Net gains from equity investments | 1,485 [2] | 1,482 | 779 |
| Operating leases | 567 | 524 | 815 |
| Other | 1,807 | 1,889 | 2,180 |
| Total noninterest income | 42,856 | 38,185 | 40,453 |
| Noninterest expense | |||
| Salaries | 14,689 | 14,462 | 13,869 |
| Commission and incentive compensation | 9,504 | 8,857 | 8,692 |
| Employee benefits | 4,611 | 4,348 | 4,651 |
| Equipment | 2,068 | 2,283 | 2,636 |
| Net occupancy | 2,857 | 3,011 | 3,030 |
| Core deposit and other intangibles | 1,674 | 1,880 | 2,199 |
| FDIC and other deposit assessments | 1,356 | 1,266 | 1,197 |
| Other | 13,639 | 13,286 | 14,182 |
| Total noninterest expense | 50,398 | 49,393 | 50,456 |
| Income before income tax expense | 28,471 | 23,656 | 19,001 |
| Income tax expense | 9,103 | 7,445 | 6,338 |
| Net income before noncontrolling interests | 19,368 | 16,211 | 12,663 |
| Less: Net income (loss) from noncontrolling interests | 471 | 342 | 301 |
| Wells Fargo net income | 18,897 | 15,869 | 12,362 |
| Less: Preferred stock dividends and other | 898 | 844 | 730 |
| Wells Fargo net income applicable to common stock | 17,999 | 15,025 | 11,632 |
| Per share information | |||
| Earnings per common share | 3.40 | 2.85 | 2.23 |
| Diluted earnings per common share | 3.36 | 2.82 | 2.21 |
| Dividends declared per common share | 0.88 | 0.48 | 0.20 |
| Average common shares outstanding | 5,287,600 | 5,278,100 | 5,226,800 |
| Diluted average common shares outstanding | 5,351,500 | 5,323,400 | 5,263,100 |
| [1] Total other-than-temporary impairment (OTTI) losses (gains) were $3 million, $349 million and $500 million for the year ended December 31, 2012, 2011 and 2010, respectively. Of total OTTI, losses of $240 million, $423 million and $672 million were recognized in earnings, and gains of $(237) million, $(74) million and $(172) million were recognized as non-credit-related OTTI in other comprehensive income for the year ended December 31, 2012, 2011 and 2010, respectively. | |||
| [2] Includes OTTI losses of $176 million, $288 million and $268 million for the year ended December 31, 2012, 2011 and 2010, respectively. | |||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2012 | |
| 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 |