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Consolidated Statement of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest income:        
Trading assets $ 427 $ 331 $ 1,208 $ 998
Investment securities 2,066 2,038 6,288 5,997
Mortgages held for sale 215 320 580 1,069
Loans held for sale 50 3 53 10
Loans 8,963 8,901 26,561 26,664
Other interest income 243 183 679 515
Total interest income 11,964 11,776 35,369 35,253
Interest expense:        
Deposits 273 318 827 1,040
Short-term borrowings 15 9 41 46
Long-term debt 629 621 1,868 1,950
Other interest expense 106 80 286 220
Total interest expense 1,023 1,028 3,022 3,256
Net interest income 10,941 10,748 32,347 31,997
Provision for credit losses 368 75 910 1,946
Net interest income after provision for credit losses 10,573 10,673 31,437 30,051
Noninterest income        
Service charges on deposit accounts 1,311 1,278 3,809 3,740
Trust and investment fees 3,554 3,276 10,575 9,972
Card fees 875 813 2,506 2,364
Other fees 1,090 1,098 3,225 3,221
Mortgage banking 1,633 1,608 4,866 7,204
Insurance 388 413 1,273 1,361
Net gains from trading activities 168 397 982 1,298
Net gains (losses) on debt securities 253 [1] (6) [1] 407 [1] (15) [1]
Net gains from equity investments 712 [2] 502 [2] 2,008 [2] 818 [2]
Lease income 137 160 399 515
Other 151 191 507 640
Total noninterest income 10,272 9,730 30,557 31,118
Noninterest expense        
Salaries 3,914 3,910 11,437 11,341
Commission and incentive compensation 2,527 2,401 7,388 7,604
Employee benefits 931 1,172 3,473 3,873
Equipment 457 471 1,392 1,417
Net occupancy 731 728 2,195 2,163
Core deposit and other intangibles 342 375 1,032 1,129
FDIC and other deposit assessments 229 214 697 765
Other 3,117 2,831 8,776 8,465
Total noninterest expense 12,248 12,102 36,390 36,757
Income before income tax expense 8,597 8,301 25,604 24,412
Income tax expense 2,642 2,618 7,788 7,901
Net income before noncontrolling interests 5,955 5,683 17,816 16,511
Less: Net income from noncontrolling interests 226 105 468 243
Wells Fargo net income 5,729 5,578 17,348 16,268
Less: Preferred stock dividends and other 321 261 909 748
Wells Fargo net income applicable to common stock $ 5,408 $ 5,317 $ 16,439 $ 15,520
Per share information        
Earnings per common share $ 1.04 $ 1.00 $ 3.13 $ 2.93
Diluted earnings per common share $ 1.02 $ 0.99 $ 3.08 $ 2.89
Dividends declared per common share $ 0.35 $ 0.30 $ 1.00 $ 0.85
Average common shares outstanding 5,225.9 5,295.3 5,252.2 5,293.0
Diluted average common shares outstanding 5,310.4 5,381.7 5,339.2 5,374.7
[1] Total other-than-temporary impairment (OTTI) losses (reversal of losses) were $10 million and $(13) million for third quarter 2014 and 2013, respectively. Of total OTTI, losses of $15 million and $23 million were recognized in earnings, and reversal of losses of $(5) million and $(36) million were recognized as non-credit-related OTTI in other comprehensive income for third quarter 2014 and 2013, respectively. Total OTTI losses (reversal of losses) were $(1) million and $36 million for the first nine months of 2014 and 2013, respectively. Of total OTTI, losses of $35 million and $128 million were recognized in earnings, and reversal of losses of $(36) million and $(92) million were recognized as non-credit-related OTTI in other comprehensive income for the first nine months of 2014 and 2013, respectively.
[2] Includes OTTI losses of $40 million and $37 million for third quarter 2014 and 2013, respectively, and $237 million and $121 million for the first nine months of 2014 and 2013, respectively.