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Operating Segments
 6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Operating Segments
Note 22: Operating Segments
We have three reportable operating segments: Community Banking; Wholesale Banking; and Wealth and Investment Management (WIM). We define our operating segments by product type and customer segment and their results 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. If the management structure and/or the allocation process changes, allocations, transfers and assignments may change. For a description of our operating segments see Note 26 (Operating Segments) in our 2018 Form 10-K. Table 22.1 presents our results by operating segment.
Table 22.1: Operating Segments
 
Community
Banking 
 
 
Wholesale
Banking
 
 
Wealth and Investment Management
 
 
Other (1)
 
 
Consolidated
Company
 
(income/expense in millions, average balances in billions)
2019

 
2018

 
2019

 
2018

 
2019

 
2018

 
2019

 
2018

 
2019

 
2018

Quarter ended June 30,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net interest income (2)
$
7,066

 
7,346

 
4,535

 
4,693

 
1,037

 
1,111

 
(543
)
 
(609
)
 
12,095

 
12,541

Provision (reversal of provision) for credit losses
479

 
484

 
28

 
(36
)
 
(1
)
 
(2
)
 
(3
)
 
6

 
503

 
452

Noninterest income
4,739

 
4,460

 
2,530

 
2,504

 
3,013

 
2,840

 
(793
)
 
(792
)
 
9,489

 
9,012

Noninterest expense
7,212

 
7,290

 
3,882

 
4,219

 
3,246

 
3,361

 
(891
)
 
(888
)
 
13,449

 
13,982

Income (loss) before income tax expense (benefit)
4,114

 
4,032

 
3,155

 
3,014

 
805

 
592

 
(442
)
 
(519
)
 
7,632

 
7,119

Income tax expense (benefit)
838

 
1,413

 
365

 
379

 
201

 
147

 
(110
)
 
(129
)
 
1,294

 
1,810

Net income (loss) before noncontrolling interests
3,276

 
2,619

 
2,790

 
2,635

 
604

 
445

 
(332
)
 
(390
)
 
6,338

 
5,309

Less: Net income from noncontrolling interests
129

 
123

 
1

 
—

 
2

 
—

 
—

 
—

 
132

 
123

Net income (loss) (3)
$
3,147

 
2,496

 
2,789

 
2,635

 
602

 
445

 
(332
)
 
(390
)
 
6,206

 
5,186

Average loans
$
457.7

 
463.8

 
474.0

 
464.7

 
75.0

 
74.7

 
(59.2
)
 
(59.1
)
 
947.5

 
944.1

Average assets
1,024.8

 
1,034.3

 
852.2

 
826.4

 
83.8

 
84.0

 
(60.2
)
 
(59.8
)
 
1,900.6

 
1,884.9

Average deposits
777.6

 
760.6

 
410.4

 
414.0

 
143.5

 
167.1

 
(62.5
)
 
(70.4
)
 
1,269.0

 
1,271.3

Six months ended June 30,
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net interest income (2)
$
14,314

 
14,541

 
9,069

 
9,225

 
2,138

 
2,223

 
(1,115
)
 
(1,210
)
 
24,406

 
24,779

Provision (reversal of provision) for credit losses
1,189

 
702

 
162

 
(56
)
 
3

 
(8
)
 
(6
)
 
5

 
1,348

 
643

Noninterest income
9,241

 
9,095

 
5,107

 
5,251

 
5,991

 
5,970

 
(1,552
)
 
(1,608
)
 
18,787

 
18,708

Noninterest expense
14,901

 
15,992

 
7,720

 
8,197

 
6,549

 
6,651

 
(1,805
)
 
(1,816
)
 
27,365

 
29,024

Income (loss) before income tax expense (benefit)
7,465

 
6,942

 
6,294

 
6,335

 
1,577

 
1,550

 
(856
)
 
(1,007
)
 
14,480

 
13,820

Income tax expense (benefit)
1,262

 
2,222

 
734

 
827

 
393

 
386

 
(214
)
 
(251
)
 
2,175

 
3,184

Net income (loss) before noncontrolling interests
6,203

 
4,720

 
5,560

 
5,508

 
1,184

 
1,164

 
(642
)
 
(756
)
 
12,305

 
10,636

Less: Net income (loss) from noncontrolling interests
233

 
311

 
1

 
(2
)
 
5

 
5

 
—

 
—

 
239

 
314

Net income (loss) (3)
$
5,970

 
4,409

 
5,559

 
5,510

 
1,179

 
1,159

 
(642
)
 
(756
)
 
12,066

 
10,322

Average loans
$
457.9

 
467.1

 
475.2

 
464.9

 
74.7

 
74.3

 
(59.1
)
 
(58.8
)
 
948.7

 
947.5

Average assets
1,020.1

 
1,048.0

 
848.4

 
827.8

 
83.5

 
84.1

 
(60.1
)
 
(59.6
)
 
1,891.9

 
1,900.3

Average deposits
771.6

 
754.1

 
410.1

 
429.9

 
148.3

 
172.5

 
(64.5
)
 
(72.3
)
 
1,265.5

 
1,284.2

(1)
Includes the elimination of certain items that are included in more than one business segment, substantially all of which represents products and services for Wealth and Investment Management customers served through Community Banking distribution channels. 
(2)
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 as well as interest credits for any funding of a segment available to be provided to other segments. The cost of liabilities includes actual interest expense on segment liabilities as well as funding charges for any funding provided from other segments.
(3)
Represents segment net income (loss) for Community Banking; Wholesale Banking; and Wealth and Investment Management segments and Wells Fargo net income for the consolidated company.