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: 2021 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 22, 2022) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Supplemental Income Statement Elements [Abstract] | |||
| Interest income | |||
| Debt securities | $ 9,253 | 11,234 | 14,955 |
| Loans held for sale | 865 | 947 | 892 |
| Loans | 28,634 | 34,230 | 44,218 |
| Equity securities | 608 | 554 | 962 |
| Other interest income | 334 | 954 | 5,128 |
| Total interest income | 39,694 | 47,919 | 66,155 |
| Interest expense | |||
| Deposits | 388 | 2,804 | 8,635 |
| Short-term borrowings | (41) | 250 | 2,316 |
| Long-term debt | 3,173 | 4,471 | 7,350 |
| Other interest expense | 395 | 438 | 551 |
| Total interest expense | 3,915 | 7,963 | 18,852 |
| Net interest income | 35,779 | 39,956 | 47,303 |
| Noninterest income | |||
| Deposit and lending-related fees | 6,920 | 6,602 | 7,293 |
| Card fees | 4,175 | 3,544 | 4,016 |
| Mortgage banking | 4,956 | 3,493 | 2,715 |
| Net gains on trading and securities | 7,264 | 2,710 | 3,976 |
| Other | 3,734 | 3,847 | 7,457 |
| Total noninterest income | 42,713 | 34,308 | 39,529 |
| Total revenue | 78,492 | 74,264 | 86,832 |
| Provision for credit losses | (4,155) | 14,129 | 2,687 |
| Noninterest expense | |||
| Personnel | 35,541 | 34,811 | 35,128 |
| Technology, telecommunications and equipment | 3,227 | 3,099 | 3,276 |
| Occupancy | 2,968 | 3,263 | 2,945 |
| Operating losses | 1,568 | 3,523 | 4,321 |
| Professional and outside services | 5,723 | 6,706 | 6,745 |
| Advertising and promotion | 600 | 600 | 1,076 |
| Restructuring charges | 76 | 1,499 | 0 |
| Other | 4,128 | 4,129 | 4,687 |
| Total noninterest expense | 53,831 | 57,630 | 58,178 |
| Income before income tax expense (benefit) | 28,816 | 2,505 | 25,967 |
| Income tax expense (benefit) | 5,578 | (1,157) | 5,761 |
| Net income before noncontrolling interests | 23,238 | 3,662 | 20,206 |
| Less: Net income from noncontrolling interests | 1,690 | 285 | 491 |
| Net income (loss) | 21,548 | 3,377 | 19,715 |
| Less: Preferred stock dividends and other | 1,292 | 1,591 | 1,612 |
| Wells Fargo net income applicable to common stock | 20,256 | 1,786 | 18,103 |
| Per share information | |||
| Earnings per common share (in dollars per share) | 4.99 | 0.43 | 4.12 |
| Diluted earnings per common share (in dollars per share) | 4.95 | 0.43 | 4.09 |
| Average common shares outstanding (in shares) | 4,061,900 | 4,118,000 | 4,393,100 |
| Diluted average common shares outstanding (in shares) | 4,096,200 | 4,134,200 | 4,425,400 |
| Product and Service | |||
| Investment advisory and other asset-based fees | |||
| Fee income | 11,011 | 9,863 | 9,814 |
| Commissions and brokerage service fees | |||
| Fee income | 2,299 | 2,384 | 2,461 [1] |
| Investment banking fees | |||
| Fee income | 2,354 | 1,865 | 1,797 |
| [1] In first quarter 2021, trust and investment management fees and asset-based brokerage fees were combined into a single line item for investment advisory and other asset-based fees, and brokerage commissions and other brokerage services fees were combined into a single line item for commissions and brokerage services fees. Prior period balances have been revised to conform with the current period presentation. | |||
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2021 | |
| 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 |