Wells Fargo & Company (WFC) Financial Statements (2024 and earlier)

Company Profile

Business Address 420 MONTGOMERY STREET
SAN FRANCISCO, CA 94163
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments245,312322,495373,716262,919272,832216,973
Cash and cash equivalents159,157234,230264,612141,250173,287215,947
Short-term investments86,15588,265109,104121,66999,5451,026
Total current assets:245,312322,495373,716262,919272,832216,973
Noncurrent Assets
Operating lease, right-of-use asset3,8373,8054,3064,724
Property, plant and equipment    9,3098,9208,847
Long-term investments and receivables      23,515
Long-term investments      23,515
Intangible assets, net (including goodwill)26,49526,67428,04628,25728,42029,635
Goodwill25,17325,18026,39226,39026,41826,587
Intangible assets, net (excluding goodwill)1,3221,4941,6541,8672,0023,048
Total noncurrent assets:30,33230,47932,35242,29037,34061,997
Other undisclosed assets1,605,3721,595,0941,549,0951,622,3461,585,7111,672,787
TOTAL ASSETS:1,881,0161,948,0681,955,1631,927,5551,895,8831,951,757
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt51,14534,40958,999104,512105,787103,256
Total current liabilities:51,14534,40958,999104,512105,787103,256
Noncurrent Liabilities
Liabilities, other than long-term debt  4,9004,20011,5783,9003,600
Deferred income tax liabilities    7,278
Qualified affordable housing project investments, commitment  4,9004,2004,3003,9003,600
Total noncurrent liabilities:  4,9004,20011,5783,9003,600
Other undisclosed liabilities1,647,9961,718,6491,706,0441,623,4811,589,1301,636,822
Total liabilities:1,699,1411,757,9581,769,2431,739,5711,698,8171,743,678
Equity
Equity, attributable to parent, including:179,889187,606184,887187,146196,166206,936
Preferred stock19,44820,05721,13621,54923,21425,358
Common stock9,1369,1369,1369,1369,1369,136
Treasury stock, value(82,853)(79,757)(67,791)(68,831)(47,194)(29,892)
Additional paid in capital60,31960,19660,19761,04960,68560,893
Accumulated other comprehensive income (loss)(13,381)(1,702)194(1,311)(6,336)(2,144)
Retained earnings187,649180,322162,890166,697158,163145,263
Other undisclosed equity, attributable to parent(429)(646)(875)(1,143)(1,502)(1,678)
Equity, attributable to noncontrolling interest1,9862,5041,0338389001,143
Total equity:181,875190,110185,920187,984197,066208,079
TOTAL LIABILITIES AND EQUITY:1,881,0161,948,0681,955,1631,927,5551,895,8831,951,757

Income Statement (P&L) ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues42,16429,49936,01085,06386,40888,389
Net investment income38,22829,49936,01050,16649,24945,317
Financial services revenue27,518
Cost of revenue(1,781) (14,129)(2,687)(1,744)(2,528)
Provision for loan, lease, and other losses(1,534) (14,129)(2,687)(1,744)
Financial services costs(2,528)
Gross profit:40,38329,49921,88182,37684,66485,861
Operating expenses(8,579)(9,367)(12,068)(34,637)(25,648)(25,778)
Other operating income (expense), net2,238  (3,840)  
Noninterest income, other operating income2,238     
Other expenses    (3,840)  
Operating income:34,04220,1329,81343,89959,01660,083
Interest and debt expense(9,074)(3,915)(7,963)(18,852)(14,652)(9,352)
Income from continuing operations before equity method investments, income taxes:24,96816,2171,85025,04744,36450,731
Other undisclosed income (loss) from continuing operations before income taxes(9,999)12,599(1,269)(849)(15,826)(23,354)
Income from continuing operations before income taxes:14,96928,81658124,19828,53827,377
Income tax expense (benefit)(2,087)(5,578)3,005(4,157)(5,662)(4,917)
Income from continuing operations:12,88223,2383,58620,04122,87622,460
Income before gain (loss) on sale of properties:23,2383,58620,04122,87622,460
Net income:12,88223,2383,58620,04122,87622,460
Net income (loss) attributable to noncontrolling interest300(1,690)(285)(492)(483)(277)
Net income attributable to parent:13,18221,5483,30119,54922,39322,183
Preferred stock dividends and other adjustments(1,115)(1,292)(1,591)(1,611)(1,704)(1,629)
Net income available to common stockholders, diluted:12,06720,2561,71017,93820,68920,554

Comprehensive Income ($ in millions)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:12,88223,2383,58620,04122,87622,460
Other comprehensive income (loss)(11,677)(1,897)1,5064,544(3,676)763
Comprehensive income:1,20521,3415,09224,58519,20023,223
Comprehensive income (loss), net of tax, attributable to noncontrolling interest298(1,689)(285)(492)(481)(215)
Comprehensive income, net of tax, attributable to parent:1,50319,6524,80724,09318,71923,008

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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