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: 2017 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Mar 1, 2018) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Interest income | |||
| Trading assets | $ 2,928 | 2,506 | 1,971 |
| Investment securities | 10,664 | 9,248 | 8,937 |
| Mortgages held for sale | 786 | 784 | 785 |
| Loans held for sale | 12 | 9 | 19 |
| Loans | 41,388 | 39,505 | 36,575 |
| Other interest income | 3,131 | 1,611 | 990 |
| Total interest income | 58,909 | 53,663 | 49,277 |
| Interest expense | |||
| Deposits | 3,013 | 1,395 | 963 |
| Short-term borrowings | 758 | 330 | 64 |
| Long-term debt | 5,157 | 3,830 | 2,592 |
| Other interest expense | 424 | 354 | 357 |
| Total interest expense | 9,352 | 5,909 | 3,976 |
| Net interest income | 49,557 | 47,754 | 45,301 |
| Provision for credit losses | 2,528 | 3,770 | 2,442 |
| Net interest income after provision for credit losses | 47,029 | 43,984 | 42,859 |
| Noninterest income | |||
| Service charges on deposit accounts | 5,111 | 5,372 | 5,168 |
| Trust and investment fees | 14,495 | 14,243 | 14,468 |
| Card fees | 3,960 | 3,936 | 3,720 |
| Other fees | 3,557 | 3,727 | 4,324 |
| Mortgage banking | 4,350 | 6,096 | 6,501 |
| Insurance | 1,049 | 1,268 | 1,694 |
| Net gains from trading activities | 1,053 | 834 | 614 |
| Net gains (losses) on debt securities | 479 | 942 [1] | 952 |
| Net gains from equity investments | 1,268 | 879 [2] | 2,230 |
| Lease income | 1,907 | 1,927 | 621 |
| Other | 1,603 | 1,289 | 464 |
| Total noninterest income | 38,832 | 40,513 | 40,756 |
| Noninterest expense | |||
| Salaries | 17,363 | 16,552 | 15,883 |
| Commission and incentive compensation | 10,442 | 10,247 | 10,352 |
| Employee benefits | 5,566 | 5,094 | 4,446 |
| Equipment | 2,237 | 2,154 | 2,063 |
| Net occupancy | 2,849 | 2,855 | 2,886 |
| Core deposit and other intangibles | 1,152 | 1,192 | 1,246 |
| FDIC and other deposit assessments | 1,287 | 1,168 | 973 |
| Other | 17,588 | 13,115 | 12,125 |
| Total noninterest expense | 58,484 | 52,377 | 49,974 |
| Income before income tax expense | 27,377 | 32,120 | 33,641 |
| Income tax expense | 4,917 | 10,075 | 10,365 |
| Net income before noncontrolling interests | 22,460 | 22,045 | 23,276 |
| Less: Net income from noncontrolling interests | 277 | 107 | 382 |
| Wells Fargo net income | 22,183 | 21,938 | 22,894 |
| Less: Preferred stock dividends and other | 1,629 | 1,565 | 1,424 |
| Wells Fargo net income applicable to common stock | 20,554 | 20,373 | 21,470 |
| Per share information | |||
| Earnings per common share (in dollars per share) | 4.14 | 4.03 | 4.18 |
| Diluted earnings per common share (in dollars per share) | 4.10 | 3.99 | 4.12 |
| Dividends declared per common share (in dollars per share) | 1.54 | 1.51 | 1.48 |
| Average common shares outstanding | 4,964,600 | 5,052,800 | 5,136,500 |
| Diluted average common shares outstanding | 5,017,300 | 5,108,300 | 5,209,800 |
| [1] Total other-than-temporary impairment (OTTI) losses were $205 million, $207 million and $136 million for the years ended December 31, 2017, 2016 and 2015, respectively. Of total OTTI, losses of $262 million, $189 million and $183 million were recognized in earnings, and losses (reversal of losses) of $(57) million, $18 million and $(47) million were recognized as non-credit-related OTTI in other comprehensive income for the years ended December 31, 2017, 2016 and 2015, respectively. | |||
| [2] Includes OTTI losses of $344 million, $453 million and $376 million for the years ended December 31, 2017, 2016 and 2015, respectively. | |||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2017 | |
| 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 |