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Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Interest income      
Debt securities (1) $ 14,406 $ 12,946 [1] $ 11,244 [1]
Mortgage loans held for sale 777 786 784
Loans held for sale (1) 140 50 [1] 38 [1]
Loans 43,974 41,388 39,505
Equity securities (1) 992 799 [1] 635 [1]
Other interest income (1) 4,358 2,940 [1] 1,457 [1]
Total interest income 64,647 58,909 53,663
Interest expense      
Deposits 5,622 3,013 1,395
Short-term borrowings 1,717 758 330
Long-term debt 6,703 5,157 3,830
Other interest expense 610 424 354
Total interest expense 14,652 9,352 5,909
Net interest income 49,995 49,557 47,754
Provision for credit losses 1,744 2,528 3,770
Net interest income after provision for credit losses 48,251 47,029 43,984
Noninterest income      
Mortgage banking 3,017 4,350 6,096
Insurance 429 1,049 1,268
Net gains from trading activities (1) 602 542 [1] 610 [1]
Net gains on debt securities (2) [2] 108 479 942
Net gains from equity securities (1)(3) [3] 1,515 1,779 [1] 1,103 [1]
Lease income 1,753 1,907 1,927
Other 2,473 1,603 1,289
Total noninterest income 36,413 38,832 40,513
Noninterest expense      
Salaries 17,834 17,363 16,552
Commission and incentive compensation 10,264 10,442 10,247
Employee benefits 4,926 5,566 5,094
Equipment 2,444 2,237 2,154
Net occupancy 2,888 2,849 2,855
Core deposit and other intangibles 1,058 1,152 1,192
FDIC and other deposit assessments 1,110 1,287 1,168
Other 15,602 17,588 13,115
Total noninterest expense 56,126 58,484 52,377
Income before income tax expense 28,538 27,377 32,120
Income tax expense 5,662 4,917 10,075
Net income before noncontrolling interests 22,876 22,460 22,045
Less: Net income from noncontrolling interests 483 277 107
Wells Fargo net income 22,393 22,183 21,938
Less: Preferred stock dividends and other 1,704 1,629 1,565
Wells Fargo net income applicable to common stock $ 20,689 $ 20,554 $ 20,373
Per share information      
Earnings per common share (in dollars per share) $ 4.31 $ 4.14 $ 4.03
Diluted earnings per common share (in dollars per share) $ 4.28 $ 4.10 $ 3.99
Average common shares outstanding (in shares) 4,799.7 4,964.6 5,052.8
Diluted average common shares outstanding (in shares) 4,838.4 5,017.3 5,108.3
Service charges on deposit accounts      
Noninterest income      
Fee income $ 4,716 $ 5,111 $ 5,372
Trust and investment fees      
Noninterest income      
Fee income 14,509 14,495 14,243
Card fees      
Noninterest income      
Fee income 3,907 3,960 3,936
Other fees      
Noninterest income      
Fee income $ 3,384 $ 3,557 $ 3,727
[1] (1)Financial information for the prior periods has been revised to reflect presentation changes made in connection with our adoption in first quarter 2018 of Accounting Standards Update (ASU) 2016-01 – Financial Instruments – Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities. See Note 1 (Summary of Significant Accounting Policies) for more information.
[2] (2)Total other-than-temporary impairment (OTTI) losses were $17 million, $205 million and $207 million for the years ended December 31, 2018, 2017 and 2016, respectively. Of total OTTI, losses of $28 million, $262 million and $189 million were recognized in earnings, and losses (reversal of losses) of $(11) million, $(57) million and $18 million were recognized as non-credit-related OTTI in other comprehensive income for the years ended December 31, 2018, 2017 and 2016, respectively.
[3] (3)Includes OTTI losses of $352 million, $344 million and $453 million for the years ended December 31, 2018, 2017 and 2016, respectively.