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: 2013 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2013 10-K (Filed: Feb 26, 2014) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2013 | Dec 31, 2012 | Dec 31, 2011 | |
| Interest income: | |||
| Trading assets | $ 1,376 | 1,358 | 1,440 |
| Investment securities | 8,116 | 8,098 | 8,475 |
| Mortgages held for sale | 1,290 | 1,825 | 1,644 |
| Loans held for sale | 13 | 41 | 58 |
| Loans | 35,571 | 36,482 | 37,247 |
| Other interest income | 723 | 587 | 548 |
| Total interest income | 47,089 | 48,391 | 49,412 |
| Interest expense: | |||
| Deposits | 1,337 | 1,727 | 2,275 |
| Short-term borrowings | 60 | 79 | 80 |
| Long-term debt | 2,585 | 3,110 | 3,978 |
| Other interest expense | 307 | 245 | 316 |
| Total interest expense | 4,289 | 5,161 | 6,649 |
| Net interest income | 42,800 | 43,230 | 42,763 |
| Provision for credit losses | 2,309 | 7,217 | 7,899 |
| Net interest income after provision for credit losses | 40,491 | 36,013 | 34,864 |
| Noninterest income | |||
| Service charges on deposit accounts | 5,023 | 4,683 | 4,280 |
| Trust and investment fees | 13,430 | 11,890 | 11,304 |
| Card fees | 3,191 | 2,838 | 3,653 |
| Other fees | 4,340 | 4,519 | 4,193 |
| Mortgage banking | 8,774 | 11,638 | 7,832 |
| Insurance | 1,814 | 1,850 | 1,960 |
| Net gains from trading activities | 1,623 | 1,707 | 1,014 |
| Net gains (losses) on debt securities | (29) [1] | (128) | 54 |
| Net gains from equity investments | 1,472 | 1,485 | 1,482 [2] |
| Lease income | 663 | 567 | 524 |
| Other | 679 | 1,807 | 1,889 |
| Total noninterest income | 40,980 | 42,856 | 38,185 |
| Noninterest expense | |||
| Salaries | 15,152 | 14,689 | 14,462 |
| Commission and incentive compensation | 9,951 | 9,504 | 8,857 |
| Employee benefits | 5,033 | 4,611 | 4,348 |
| Equipment | 1,984 | 2,068 | 2,283 |
| Net occupancy | 2,895 | 2,857 | 3,011 |
| Core deposit and other intangibles | 1,504 | 1,674 | 1,880 |
| FDIC and other deposit assessments | 961 | 1,356 | 1,266 |
| Other | 11,362 | 13,639 | 13,286 |
| Total noninterest expense | 48,842 | 50,398 | 49,393 |
| Income before income tax expense | 32,629 | 28,471 | 23,656 |
| Income tax expense | 10,405 | 9,103 | 7,445 |
| Net income before noncontrolling interests | 22,224 | 19,368 | 16,211 |
| Less: Net income from noncontrolling interests | 346 | 471 | 342 |
| Wells Fargo net income | 21,878 | 18,897 | 15,869 |
| Less: Preferred stock dividends and other | 989 | 898 | 844 |
| Wells Fargo net income applicable to common stock | 20,889 | 17,999 | 15,025 |
| Per share information | |||
| Earnings per common share | 3.95 | 3.40 | 2.85 |
| Diluted earnings per common share | 3.89 | 3.36 | 2.82 |
| Dividends declared per common share | 1.15 | 0.88 | 0.48 |
| Average common shares outstanding | 5,287,300 | 5,287,600 | 5,278,100 |
| Diluted average common shares outstanding | 5,371,200 | 5,351,500 | 5,323,400 |
| [1] Total other-than-temporary impairment (OTTI) losses (gains) were $39 million, $3 million and $349 million for the year ended December 31, 2013, 2012 and 2011, respectively. Of total OTTI, losses of $158 million, $240 million and $423 million were recognized in earnings, and gains of $(119) million, $(237) million and $(74) million were recognized as non-credit-related OTTI in other comprehensive income for the year ended December 31, 2013, 2012 and 2011, respectively. | |||
| [2] Includes OTTI losses of $186 million, $176 million and $288 million for the year ended December 31, 2013, 2012 and 2011, respectively. | |||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2013 | |
| 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 |