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Consolidated Statement of Income (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Interest income        
Trading assets $ 331 $ 299 $ 998 $ 1,019
Securities available for sale 2,038 1,966 5,997 6,201
Mortgages held for sale 320 476 1,069 1,412
Loans held for sale 3 17 10 38
Loans 8,901 9,016 26,664 27,455
Other interest income 183 151 515 409
Total interest income 11,776 11,925 35,253 36,534
Interest expense:        
Deposits 318 428 1,040 1,328
Short-term borrowings 9 19 46 55
Long-term debt 621 756 1,950 2,375
Other interest expense 80 60 220 189
Total interest expense 1,028 1,263 3,256 3,947
Net interest income 10,748 10,662 31,997 32,587
Provision for credit losses 75 1,591 1,946 5,386
Net interest income after provision for credit losses 10,673 9,071 30,051 27,201
Noninterest income        
Service charges on deposit accounts 1,278 1,210 3,740 3,433
Trust and investment fees 3,276 2,954 9,972 8,691
Card fees 813 744 2,364 2,102
Other fees 1,098 1,097 3,221 3,326
Mortgage banking 1,608 2,807 7,204 8,570
Insurance 413 414 1,361 1,455
Net gains from trading activities 397 529 1,298 1,432
Net gains (losses) on debt securities available for sale (6) [1] 3 [1] (15) [1] (65) [1]
Net gains from equity investments 502 [2] 164 [2] 818 [2] 770 [2]
Lease income 160 218 515 397
Other 191 411 640 1,440
Total noninterest income 9,730 10,551 31,118 31,551
Noninterest expense        
Salaries 3,910 3,648 11,341 10,954
Commission and incentive compensation 2,401 2,368 7,604 7,139
Employee benefits 1,172 1,063 3,873 3,720
Equipment 471 510 1,417 1,526
Net occupancy 728 727 2,163 2,129
Core deposit and other intangibles 375 419 1,129 1,256
FDIC and other deposit assessments 214 359 765 1,049
Other 2,831 3,018 8,465 9,729
Total noninterest expense 12,102 12,112 36,757 37,502
Income before income tax expense 8,301 7,510 24,412 21,250
Income tax expense 2,618 2,480 7,901 7,179
Net income before noncontrolling interests 5,683 5,030 16,511 14,071
Less: Net income from noncontrolling interests 105 93 243 264
Wells Fargo net income 5,578 4,937 16,268 13,807
Less: Preferred stock dividends and other 261 220 748 665
Wells Fargo net income applicable to common stock $ 5,317 $ 4,717 $ 15,520 $ 13,142
Per share information        
Earnings per common share $ 1.00 $ 0.89 $ 2.93 $ 2.48
Diluted earnings per common share $ 0.99 $ 0.88 $ 2.89 $ 2.45
Dividends declared per common share $ 0.30 $ 0.22 $ 0.85 $ 0.66
Average common shares outstanding 5,295.3 5,288.1 5,293.0 5,292.7
Diluted average common shares outstanding 5,381.7 5,355.6 5,374.7 5,355.7
[1] Total other-than-temporary impairment (OTTI) gains were $(13) million and $(101) million for third quarter 2013 and 2012, respectively. Of total OTTI, losses of $23 million and $36 million were recognized in earnings, and gains of $(36) million and $(137) million were recognized as non-credit-related OTTI in other comprehensive income for third quarter 2013 and 2012, respectively. Total OTTI losses (gains) were $36 million and $(19) million for the first nine months of 2013 and 2012, respectively. Of total OTTI, losses of $128 million and $163 million were recognized in earnings, and gains of $(92) million and $(182) million were recognized as non-credit-related OTTI in other comprehensive income for the first nine months of 2013 and 2012, respectively.
[2] Includes OTTI losses of $37 million and $36 million for third quarter 2013 and 2012, respectively, and $121 million and $94 million for the first nine months of 2013 and 2012, respectively.