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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income        
Trading assets $ 710 $ 572 $ 1,353 $ 1,168
Investment securities 2,698 2,176 5,373 4,438
Mortgages held for sale 195 181 379 342
Loans held for sale 4 3 5 5
Loans 10,358 9,822 20,499 19,399
Other interest income 750 392 1,332 766
Total interest income 14,715 13,146 28,941 26,118
Interest expense        
Deposits 683 332 1,220 639
Short-term borrowings 163 77 277 144
Long-term debt 1,278 921 2,461 1,763
Other interest expense 108 83 200 172
Total interest expense 2,232 1,413 4,158 2,718
Net interest income 12,483 11,733 24,783 23,400
Provision for credit losses 555 1,074 1,160 2,160
Net interest income after provision for credit losses 11,928 10,659 23,623 21,240
Noninterest income        
Service charges on deposit accounts 1,276 1,336 2,589 2,645
Trust and investment fees 3,629 3,547 7,199 6,932
Card fees 1,019 997 1,964 1,938
Other fees 902 906 1,767 1,839
Mortgage banking 1,148 1,414 2,376 3,012
Insurance 280 286 557 713
Net gains from trading activities 237 328 676 528
Net gains on debt securities [1] 120 447 156 691
Net gains from equity investments [2] 188 189 591 433
Lease income 493 497 974 870
Other 394 482 539 1,356
Total noninterest income 9,686 10,429 19,388 20,957
Noninterest expense        
Salaries 4,343 4,099 8,604 8,135
Commission and incentive compensation 2,499 2,604 5,224 5,249
Employee benefits 1,308 1,244 2,994 2,770
Equipment 529 493 1,106 1,021
Net occupancy 706 716 1,418 1,427
Core deposit and other intangibles 287 299 576 592
FDIC and other deposit assessments 328 255 661 505
Other 3,541 3,156 6,750 6,195
Total noninterest expense 13,541 12,866 27,333 25,894
Income before income tax expense 8,073 8,222 15,678 16,303
Income tax expense 2,225 2,649 4,282 5,216
Net income before noncontrolling interests 5,848 5,573 11,396 11,087
Less: Net income from noncontrolling interests 38 15 129 67
Wells Fargo net income 5,810 5,558 11,267 11,020
Less: Preferred stock dividends and other 406 385 807 762
Wells Fargo net income applicable to common stock $ 5,404 $ 5,173 $ 10,460 $ 10,258
Per share information        
Earnings per common share (in dollars per share) $ 1.08 $ 1.02 $ 2.09 $ 2.02
Diluted earnings per common share (in dollars per share) 1.07 1.01 2.07 2.00
Dividends declared per common share (in dollars per share) $ 0.380 $ 0.380 $ 0.760 $ 0.755
Average common shares outstanding (in shares) 4,989.9 5,066.9 4,999.2 5,071.3
Diluted average common shares outstanding (in shares) 5,037.7 5,118.1 5,054.8 5,129.8
[1] (1)Total other-than-temporary impairment (OTTI) losses were $6 million and $11 million for second quarter 2017 and 2016, respectively. Of total OTTI, losses of $48 million and $26 million were recognized in earnings, and losses (reversal of losses) of $(42) million and $(15) million were recognized as non-credit-related OTTI in other comprehensive income for second quarter 2017 and 2016, respectively. Total OTTI losses were $49 million and $87 million for the first half of 2017 and 2016, respectively. Of total OTTI, losses of $100 million and $91 million were recognized in earnings, and reversal of losses of $(51) million and $(4) million were recognized as non-credit-related OTTI in other comprehensive income for the first half of 2017 and 2016, respectively.
[2] (2)Includes OTTI losses of $25 million and $104 million for second quarter 2017 and 2016, respectively, and $102 million and $237 million for the first half of 2017 and 2016, respectively.