Wells Fargo & Company (LON: 0R2F)

Wells Fargo & Company Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 29, 2024	Dec 30, 2023	Dec 30, 2022	Dec 30, 2021	Dec 30, 2020	Dec 30, 2019
Interest Income on Loans	59,325	57,518	38,228	29,499	35,177	45,110
Interest Income on Investments	32,236	27,600	15,796	10,195	12,742	21,045
Total Interest Income	91,561	85,118	54,024	39,694	47,919	66,155
Interest Paid on Deposits	23,734	16,503	2,349	388	2,804	8,635
Interest Paid on Borrowings	19,216	16,240	6,725	3,527	5,159	10,217
Total Interest Expense	42,950	32,743	9,074	3,915	7,963	18,852
Net Interest Income	48,611	52,375	44,950	35,779	39,956	47,303
Net Interest Income Growth (YoY)	-8.35%	16.52%	25.63%	-10.45%	-15.53%	-5.38%
Trust Income	9,378	8,670	9,004	11,011	9,863	9,814
Mortgage Banking Activities	955	829	1,383	4,956	3,530	2,715
Income From Trading Activities	5,322	4,368	1,461	7,264	2,710	3,976
Gain (Loss) on Sale of Assets	-	-	-	-	-	82
Other Non-Interest Income	11,672	10,215	10,857	13,236	11,640	15,731
Total Non-Interest Income	33,785	30,222	29,418	43,387	34,345	39,611
Non-Interest Income Growth (YoY)	16.04%	2.73%	-32.20%	26.33%	-13.29%	8.69%
Revenues Before Loan Losses	82,396	82,597	74,368	79,166	74,301	86,914
Provision for Loan Losses	4,521	5,399	1,534	-4,155	14,129	2,687
Revenue	77,875	77,198	72,834	83,321	60,172	84,227
Revenue Growth (YoY)	1.03%	5.99%	-12.59%	38.47%	-28.56%	-0.55%
Salaries and Employee Benefits	34,717	34,707	33,362	34,536	34,189	33,911
Occupancy Expenses	1,626	1,626	1,582	1,631	1,815	1,419
Selling, General & Administrative	12,373	12,197	11,345	11,892	12,475	13,840
Other Non-Interest Expense	5,416	4,953	7,603	5,282	7,652	9,090
Total Non-Interest Expense	54,132	53,483	53,892	53,341	56,131	58,260
EBT Excluding Unusual Items	23,743	23,715	18,942	29,980	4,041	25,967
Asset Writedown	-	-	-	-	-37	-
Legal Settlements	-179	-179	-3,308	-341	-	-
Other Unusual Items	-2,173	-1,900	-	-	-	-
Pretax Income	21,391	21,636	15,629	29,563	2,505	25,967
Income Tax Expense	3,179	2,607	2,251	5,764	-1,157	5,761
Earnings From Continuing Operations	18,212	19,029	13,378	23,799	3,662	20,206
Minority Interest in Earnings	-123	113	299	-1,690	-285	-491
Net Income	18,089	19,142	13,677	22,109	3,377	19,715
Preferred Dividends & Other Adjustments	1,124	1,160	1,115	1,291	1,591	1,610
Net Income to Common	16,965	17,982	12,562	20,818	1,786	18,105
Net Income Growth	-4.04%	39.96%	-38.14%	554.69%	-82.87%	-11.96%
Basic Shares Outstanding	3,503	3,688	3,805	4,062	4,118	4,393
Diluted Shares Outstanding	3,542	3,720	3,837	4,096	4,134	4,425
Shares Change (YoY)	-5.91%	-3.04%	-6.33%	-0.92%	-6.58%	-8.54%
EPS (Basic)	4.84	4.88	3.30	5.13	0.43	4.12
EPS (Diluted)	4.79	4.83	3.27	5.08	0.43	4.09
EPS Growth	1.87%	47.71%	-35.63%	1081.40%	-89.49%	-4.44%
Dividend Per Share	1.450	1.300	1.100	0.600	1.220	1.920
Dividend Growth	16.00%	18.18%	83.33%	-50.82%	-36.46%	17.07%
Effective Tax Rate	14.86%	12.05%	14.40%	19.50%	-	22.19%

Source: S&P Capital IQ. Banks template. Financial Sources.