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
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments128,772122,010245,312251,221244,297288,567
Cash and cash equivalents31,91531,958159,157165,455155,140201,895
Short-term investments96,85790,05286,15585,76689,15786,672
Total current assets:128,772122,010245,312251,221244,297288,567
Noncurrent Assets
Operating lease, right-of-use asset3,6593,7823,8373,8043,8353,782
Intangible assets, net (including goodwill)26,41426,44326,49526,53826,58226,619
Goodwill25,17525,17325,17325,17225,17825,181
Intangible assets, net (excluding goodwill)1,2391,2701,3221,3661,4041,438
Total noncurrent assets:30,07330,22530,33230,34230,41730,401
Other undisclosed assets1,717,4751,734,1651,605,3721,596,1821,606,4281,620,741
TOTAL ASSETS:1,876,3201,886,4001,881,0161,877,7451,881,1421,939,709
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt84,25581,00751,14548,38237,07533,601
Total current liabilities:84,25581,00751,14548,38237,07533,601
Noncurrent Liabilities
Other undisclosed liabilities1,610,1131,622,1731,647,9961,650,9541,664,2741,724,419
Total liabilities:1,694,3681,703,1801,699,1411,699,3361,701,3491,758,020
Equity
Equity, attributable to parent, including:180,191181,168179,889176,189177,532179,243
Preferred stock19,44819,44819,44820,05720,05720,057
Common stock9,1369,1369,1369,1369,1369,136
Treasury stock, value(89,860)(86,049)(82,853)(84,781)(84,906)(85,059)
Additional paid in capital60,17359,94660,31960,21660,02459,899
Accumulated other comprehensive loss(13,441)(12,572)(13,381)(14,344)(10,608)(6,767)
Retained earnings195,164191,688187,649186,551184,475182,623
Other undisclosed equity, attributable to parent(429)(429)(429)(646)(646)(646)
Equity, attributable to noncontrolling interest1,7612,0521,9862,2202,2612,446
Total equity:181,952183,220181,875178,409179,793181,689
TOTAL LIABILITIES AND EQUITY:1,876,3201,886,4001,881,0161,877,7451,881,1421,939,709

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues15,78814,96712,73511,7799,3349,037
Net investment income14,20913,41512,35010,2788,2427,358
Cost of revenue(1,775)(1,268)(1,019)(846)(644) 
Provision for loan, lease, and other losses(1,713)(1,207)(957)(784)(580) 
Gross profit:14,01313,69911,71610,9338,6909,037
Operating expenses(2,195)(2,096)(2,257)(2,093)(2,117)(2,112)
Other operating income, net
(Noninterest Income, Other Operating Income)
412580731397554556
Operating income:12,23012,18310,1909,2377,1277,481
Interest and debt expense(7,667)(6,020)(4,360)(2,396)(1,358)(960)
Income from continuing operations before equity method investments, income taxes:4,5636,1635,8306,8415,7696,521
Other undisclosed income (loss) from continuing operations before income taxes1,270(317)(3,329)(2,447)(2,204)(2,012)
Income from continuing operations before income taxes:5,8335,8462,5014,3943,5654,509
Income tax expense (benefit)(930)(966)127(894)(613)(707)
Income from continuing operations:4,9034,8802,6283,5002,9523,802
Income before gain (loss) on sale of properties:3,5002,9523,802
Net income:4,9034,8802,6283,5002,9523,802
Net income (loss) attributable to noncontrolling interest3511123628167(131)
Net income attributable to parent:4,9384,9912,8643,5283,1193,671
Preferred stock dividends and other adjustments(279)(278)(279)(278)(280)(278)
Net income available to common stockholders, diluted:4,6594,7132,5853,2502,8393,393

Comprehensive Income ($ in millions)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:4,9034,8802,6283,5002,9523,802
Other comprehensive income (loss)(868)789963(3,734)(3,841)(5,065)
Comprehensive income (loss):4,0355,6693,591(234)(889)(1,263)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest3411223626167(131)
Comprehensive income (loss), net of tax, attributable to parent:4,0695,7813,827(208)(722)(1,394)

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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