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Operating Segments
 9 Months Ended
Sep. 30, 2014
Operating Segments [Abstract]  
Operating Segments

Note 18: Operating Segments       

 

We have three reportable operating segments: Community Banking; Wholesale Banking; and Wealth, Brokerage and Retirement. The results for these operating segments are based on our management accounting process, for which there is no comprehensive, authoritative guidance equivalent to GAAP for financial accounting. The management accounting process measures the performance of the operating segments based on our management structure and is not necessarily comparable with similar information for other financial services companies. We define our operating segments by product type and customer segment. If the management structure and/or the allocation process changes, allocations, transfers and assignments may change. For a complete description of our operating segments, including the underlying management accounting process, see Note 24 (Operating Segments) to Financial Statements in our 2013 Form 10-K.

 

                   
                   
           Wealth,      
           Brokerage       
     Community Wholesale  and    Consolidated
(income/expense in millions,   Banking Banking  Retirement  Other (1) Company
average balances in billions) 20142013 20142013 20142013 20142013 20142013
Quarter ended September 30,               
Net interest income (2) $ 7,472 7,244  3,007 3,059  790 749  (328) (304)  10,941 10,748
Provision (reversal of provision)               
 for credit losses  465 240  (85) (144)  (25) (38)  13 17  368 75
Noninterest income  5,356 5,000  2,895 2,812  2,763 2,558  (742) (640)  10,272 9,730
Noninterest expense  7,051 7,060  3,250 3,084  2,690 2,619  (743) (661)  12,248 12,102
Income (loss) before income                
 tax expense (benefit)  5,312 4,944  2,737 2,931  888 726  (340) (300)  8,597 8,301
Income tax expense (benefit)  1,609 1,505  824 952  338 275  (129) (114)  2,642 2,618
Net income (loss) before                
 noncontrolling interests  3,703 3,439  1,913 1,979  550 451  (211) (186)  5,955 5,683
Less: Net income (loss) from                
 noncontrolling interests  233 98  (7) 6  - 1  - -  226 105
Net income (loss) (3) $ 3,470 3,341  1,920 1,973  550 450  (211) (186)  5,729 5,578
Average loans$ 498.6 497.7  316.5 287.7  52.6 46.7  (34.5) (30.0)  833.2 802.1
Average assets  950.2 836.6  553.0 498.1  188.8 180.8  (74.1) (68.5)  1,617.9 1,447.0
Average core deposits  646.9 618.2  278.4 235.3  153.6 150.6  (66.7) (63.8)  1,012.2 940.3
                   
Nine months ended September 30,              
Net interest income (2) $ 22,133 21,614  8,851 9,165  2,333 2,118  (970) (900)  32,347 31,997
Provision (reversal of provision)               
 for credit losses  1,163 2,265  (227) (320)  (58) (5)  32 6  910 1,946
Noninterest income  15,894 16,471  8,577 8,927  8,238 7,647  (2,152) (1,927)  30,557 31,118
Noninterest expense  20,845 21,650  9,668 9,358  8,096 7,800  (2,219) (2,051)  36,390 36,757
Income (loss) before income                
 tax expense (benefit)  16,019 14,170  7,987 9,054  2,533 1,970  (935) (782)  25,604 24,412
Income tax expense (benefit)  4,805 4,426  2,376 3,024  962 748  (355) (297)  7,788 7,901
Net income (loss) before                
 noncontrolling interests  11,214 9,744  5,611 6,030  1,571 1,222  (580) (485)  17,816 16,511
Less: Net income (loss) from                
 noncontrolling interests  469 234  (3) 8  2 1  - -  468 243
Net income (loss) (3) $ 10,745 9,510  5,614 6,022  1,569 1,221  (580) (485)  17,348 16,268
Average loans$ 503.0 498.3  308.9 285.3  51.2 45.3  (33.7) (29.8)  829.4 799.1
Average assets  920.5 819.2  534.4 496.9  189.0 179.4  (74.3) (69.7)  1,569.6 1,425.8
Average core deposits  637.8 620.1  267.8 230.0  154.2 148.8  (67.1) (64.8)  992.7 934.1
                   
                   

  • Includes corporate items not specific to a business segment and the elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for wealth management customers provided in Community Banking stores.
  • Net interest income is the difference between interest earned on assets and the cost of liabilities to fund those assets. Interest earned includes actual interest earned on segment assets and, if the segment has excess liabilities, interest credits for providing funding to other segments. The cost of liabilities includes interest expense on segment liabilities and, if the segment does not have enough liabilities to fund its assets, a funding charge based on the cost of excess liabilities from another segment.
  • Represents segment net income (loss) for Community Banking; Wholesale Banking; and Wealth, Brokerage and Retirement segments and Wells Fargo net income for the consolidated company.