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: 2022 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 21, 2023) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Supplemental Income Statement Elements [Abstract] | |||
| Interest income | |||
| Debt securities | $ 11,781 | 9,253 | 11,234 |
| Loans held for sale | 513 | 865 | 947 |
| Loans | 37,715 | 28,634 | 34,230 |
| Equity securities | 707 | 608 | 554 |
| Other interest income | 3,308 | 334 | 954 |
| Total interest income | 54,024 | 39,694 | 47,919 |
| Interest expense | |||
| Deposits | 2,349 | 388 | 2,804 |
| Short-term borrowings | 582 | (41) | 250 |
| Long-term debt | 5,505 | 3,173 | 4,471 |
| Other interest expense | 638 | 395 | 438 |
| Total interest expense | 9,074 | 3,915 | 7,963 |
| Net interest income | 44,950 | 35,779 | 39,956 |
| Noninterest income | |||
| Deposit and lending-related fees | 6,713 | 6,920 | 6,602 |
| Card fees | 4,355 | 4,175 | 3,544 |
| Mortgage banking | 1,383 | 4,956 | 3,493 |
| Net gains from trading and securities | 1,461 | 7,264 | 2,710 |
| Other | 2,238 | 3,734 | 3,847 |
| Total noninterest income | 28,835 | 42,713 | 34,308 |
| Total revenue | 73,785 | 78,492 | 74,264 |
| Provision for credit losses | 1,534 | (4,155) | 14,129 |
| Noninterest expense | |||
| Personnel | 34,340 | 35,541 | 34,811 |
| Technology, telecommunications and equipment | 3,375 | 3,227 | 3,099 |
| Occupancy | 2,881 | 2,968 | 3,263 |
| Operating losses | 6,984 | 1,568 | 3,523 |
| Professional and outside services | 5,188 | 5,723 | 6,706 |
| Advertising and promotion | 505 | 600 | 600 |
| Restructuring charges | 5 | 76 | 1,499 |
| Other | 4,004 | 4,128 | 4,129 |
| Total noninterest expense | 57,282 | 53,831 | 57,630 |
| Income before income tax expense | 14,969 | 28,816 | 2,505 |
| Income tax expense (benefit) | 2,087 | 5,578 | (1,157) |
| Net income before noncontrolling interests | 12,882 | 23,238 | 3,662 |
| Less: Net income (loss) from noncontrolling interests | (300) | 1,690 | 285 |
| Wells Fargo net income | 13,182 | 21,548 | 3,377 |
| Less: Preferred stock dividends and other | 1,115 | 1,292 | 1,591 |
| Wells Fargo net income applicable to common stock | 12,067 | 20,256 | 1,786 |
| Per share information | |||
| Earnings per common share (in dollars per share) | 3.17 | 4.99 | 0.43 |
| Diluted earnings per common share (in dollars per share) | 3.14 | 4.95 | 0.43 |
| Average common shares outstanding (in shares) | 3,805,200 | 4,061,900 | 4,118,000 |
| Diluted average common shares outstanding (in shares) | 3,837,000 | 4,096,200 | 4,134,200 |
| Product and Service | |||
| Investment advisory and other asset-based fees | |||
| Fee income | 9,004 | 11,011 | 9,863 |
| Commissions and brokerage services fees | |||
| Fee income | 2,242 | 2,299 | 2,384 |
| Investment banking fees | |||
| Fee income | 1,439 | 2,354 | 1,865 |
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2022 | |
| 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 |