XML 16 R2.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Interest income        
Debt securities $ 4,630 $ 4,178 $ 13,362 $ 11,998
Loans held for sale 129 87 376 278
Loans 14,618 14,755 43,897 42,188
Equity securities 156 152 502 516
Other interest income 3,465 2,921 10,585 7,299
Total interest income 22,998 22,093 68,722 62,279
Interest expense        
Deposits 6,445 4,608 18,405 11,174
Short-term borrowings 1,435 1,133 4,030 2,664
Long-term debt 3,163 3,039 9,676 8,243
Other interest expense 265 208 771 594
Total interest expense 11,308 8,988 32,882 22,675
Net interest income 11,690 13,105 35,840 39,604
Noninterest income        
Deposit and lending-related fees 1,675 1,551 4,890 4,572
Card fees 1,096 1,098 3,258 3,229
Mortgage banking 280 193 753 627
Net gains (losses) from trading and securities 1,248 1,246 4,217 3,263
Other 596 381 1,925 1,373
Total noninterest income 8,676 7,752 26,078 22,515
Total revenue 20,366 20,857 61,918 62,119
Provision for credit losses 1,065 1,197 3,239 4,117
Noninterest expense        
Personnel 8,591 8,627 26,658 26,648
Technology, telecommunications and equipment 1,142 975 3,301 2,844
Occupancy 786 724 2,263 2,144
Operating losses 293 329 1,419 828
Professional and outside services 1,130 1,310 3,370 3,843
Advertising and promotion 205 215 626 553
Other 920 933 3,061 2,916
Total noninterest expense 13,067 13,113 40,698 39,776
Income (loss) before income tax expense 6,234 6,547 17,981 18,226
Income tax expense (benefit) 1,064 811 3,279 2,707
Net income (loss) before noncontrolling interests 5,170 5,736 14,702 15,519
Net income (loss) from noncontrolling interests 56 (31) 59 (177)
Wells Fargo net income (loss) 5,114 5,767 14,643 15,696
Preferred stock dividends and other 262 317 838 874
Wells Fargo net income (loss) applicable to common stock $ 4,852 $ 5,450 $ 13,805 $ 14,822
Per share information        
Earnings per common share (in dollars per share) $ 1.43 $ 1.49 $ 3.99 $ 3.99
Diluted earnings per common share (in dollars per share) $ 1.42 $ 1.48 $ 3.94 $ 3.96
Average common shares outstanding (in shares) 3,384.8 3,648.8 3,464.1 3,710.9
Diluted average common shares outstanding (in shares) 3,425.1 3,680.6 3,503.5 3,741.6
Investment advisory and other asset-based fees [Member]        
Noninterest income        
Fee income $ 2,463 $ 2,224 $ 7,209 $ 6,501
Commissions and brokerage services fees [Member]        
Noninterest income        
Fee income 646 567 1,886 1,756
Investment banking fees [Member]        
Noninterest income        
Fee income $ 672 $ 492 $ 1,940 $ 1,194