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: 2016 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Mar 1, 2017) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Interest income | |||
| Trading assets | $ 2,506 | 1,971 | 1,685 |
| Investment securities | 9,248 | 8,937 | 8,438 |
| Mortgages held for sale | 784 | 785 | 767 |
| Loans held for sale | 9 | 19 | 78 |
| Loans | 39,505 | 36,575 | 35,652 |
| Other interest income | 1,611 | 990 | 932 |
| Total interest income | 53,663 | 49,277 | 47,552 |
| Interest expense | |||
| Deposits | 1,395 | 963 | 1,096 |
| Short-term borrowings | 330 | 64 | 59 |
| Long-term debt | 3,830 | 2,592 | 2,488 |
| Other interest expense | 354 | 357 | 382 |
| Total interest expense | 5,909 | 3,976 | 4,025 |
| Net interest income | 47,754 | 45,301 | 43,527 |
| Provision for credit losses | 3,770 | 2,442 | 1,395 |
| Net interest income after provision for credit losses | 43,984 | 42,859 | 42,132 |
| Noninterest income | |||
| Service charges on deposit accounts | 5,372 | 5,168 | 5,050 |
| Trust and investment fees | 14,243 | 14,468 | 14,280 |
| Card fees | 3,936 | 3,720 | 3,431 |
| Other fees | 3,727 | 4,324 | 4,349 |
| Mortgage banking | 6,096 | 6,501 | 6,381 |
| Insurance | 1,268 | 1,694 | 1,655 |
| Net gains from trading activities | 834 | 614 | 1,161 |
| Net gains (losses) on debt securities | 942 | 952 [1] | 593 |
| Net gains from equity investments | 879 [2] | 2,230 | 2,380 |
| Lease income | 1,927 | 621 | 526 |
| Other | 1,289 | 464 | 1,014 |
| Total noninterest income | 40,513 | 40,756 | 40,820 |
| Noninterest expense | |||
| Salaries | 16,552 | 15,883 | 15,375 |
| Commission and incentive compensation | 10,247 | 10,352 | 9,970 |
| Employee benefits | 5,094 | 4,446 | 4,597 |
| Equipment | 2,154 | 2,063 | 1,973 |
| Net occupancy | 2,855 | 2,886 | 2,925 |
| Core deposit and other intangibles | 1,192 | 1,246 | 1,370 |
| FDIC and other deposit assessments | 1,168 | 973 | 928 |
| Other | 13,115 | 12,125 | 11,899 |
| Total noninterest expense | 52,377 | 49,974 | 49,037 |
| Income before income tax expense | 32,120 | 33,641 | 33,915 |
| Income tax expense | 10,075 | 10,365 | 10,307 |
| Net income before noncontrolling interests | 22,045 | 23,276 | 23,608 |
| Less: Net income from noncontrolling interests | 107 | 382 | 551 |
| Wells Fargo net income | 21,938 | 22,894 | 23,057 |
| Less: Preferred stock dividends and other | 1,565 | 1,424 | 1,236 |
| Wells Fargo net income applicable to common stock | 20,373 | 21,470 | 21,821 |
| Per share information | |||
| Earnings per common share (in dollars per share) | 4.03 | 4.18 | 4.17 |
| Diluted earnings per common share (in dollars per share) | 3.99 | 4.12 | 4.10 |
| Dividends declared per common share (in dollars per share) | 1.51 | 1.48 | 1.35 |
| Average common shares outstanding | 5,052,800 | 5,136,500 | 5,237,200 |
| Diluted average common shares outstanding | 5,108,300 | 5,209,800 | 5,324,400 |
| [1] Total other-than-temporary impairment (OTTI) losses were $207 million, $136 million and $18 million for the years ended December 31, 2016, 2015 and 2014, respectively. Of total OTTI, losses of $189 million, $183 million and $49 million were recognized in earnings, and losses (reversal of losses) of $18 million, $(47) million and $(31) million were recognized as non-credit-related OTTI in other comprehensive income for the years ended December 31, 2016, 2015 and 2014, respectively. | |||
| [2] Includes OTTI losses of $453 million, $376 million and $273 million for the years ended December 31, 2016, 2015 and 2014, respectively. | |||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2016 | |
| 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 |