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Consolidated Statement of Income (Unaudited) (USD $)
In Millions, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Interest income    
Trading assets$ 343$ 270$ 1,040$ 803
Securities available for sale2,0532,4926,3837,292
Mortgages held for sale3894491,1881,241
Loans held for sale13224286
Loans9,2249,77927,97230,094
Other interest income156118409311
Total interest income12,17813,13037,03439,827
Interest expense    
Deposits5597211,7682,170
Short-term borrowings20276666
Long-term debt9801,2263,0933,735
Other interest expense7758236162
Total interest expense1,6362,0325,1636,133
Net interest income10,54211,09831,87133,694
Provision (reversal of provision) for credit losses1,8113,4455,85912,764
Net interest income after provision for credit losses8,7317,65326,01220,930
Noninterest income    
Service charges on deposit accounts1,1031,1323,1893,881
Trust and investment fees2,7862,5648,6467,976
Card fees1,0139352,9732,711
Other fees1,0851,0043,0972,927
Mortgage banking1,8332,4995,4686,980
Insurance4233971,4941,562
Net gains (losses) from trading activities(442)4705841,116
Net gains (losses) on debt securities available for sale300[1](114)[1]6[1](56)[1]
Net gains from equity investments344[2]131[2]1,421[2]462[2]
Operating leases284222464736
Other3575361,1301,727
Total noninterest income9,0869,77628,47230,022
Noninterest expense    
Salaries3,7183,47810,75610,356
Commission and incentive compensation2,0882,2806,6066,497
Employee benefits7801,0743,3363,459
Equipment5165571,6761,823
Net occupancy7517422,2522,280
Core deposit and other intangibles4665481,4131,650
FDIC and other deposit assessments332300952896
Other3,0263,2749,89410,155
Total noninterest expense11,67712,25336,88537,116
Income before income tax expense6,1405,17617,59913,836
Income tax expense1,9981,7515,5714,666
Net income before noncontrolling interests4,1423,42512,0289,170
Less: Net income from noncontrolling interests8786266222
Wells Fargo net income4,0553,33911,7628,948
Less: Preferred stock dividends and other216189625548
Wells Fargo net income applicable to common stock$ 3,839$ 3,150$ 11,137$ 8,400
Per share information    
Earnings per common share$ 0.73$ 0.60$ 2.11$ 1.61
Diluted earnings per common share$ 0.72$ 0.60$ 2.09$ 1.60
Dividends declared per common share$ 0.12$ 0.05$ 0.36$ 0.15
Average common shares outstanding5,275.55,240.15,280.25,216.9
Diluted average common shares outstanding5,319.25,273.25,325.65,252.9
[1]Total other-than-temporary impairment (OTTI) losses (gains) were $136 million and $50 million for third quarter 2011 and 2010, respectively. Of total OTTI $96 million and $144 million were recognized in earnings, and $40 million and $(94) million were recognized as non-credit-related OTTI in other comprehensive income for third quarter 2011 and 2010, respectively. Total other-than-temporary impairment (OTTI) losses (gains) were $189 million and $253 million for the nine months ended September 30, 2011 and 2010, respectively. Of total OTTI, $365 million and $342 million were recognized in earnings, and $(176) million and $(89) million were recognized as non-credit-related OTTI in other comprehensive income for the nine months ended September 30, 2011 and 2010, respectively.
[2]Includes OTTI losses of $48 million and $35 million for third quarter 2011 and 2010, respectively, and $105 million and $202 million for the nine months ended September 30, 2011 and 2010, respectively.