2015 Q4 Form 10-K Financial Statement

#000007297117000278 Filed on March 01, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2014 Q4 2014
Revenue $47.55B
YoY Change 0.98%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $892.0M $582.0M $2.515B
YoY Change 53.26% -25.86% -23.63%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $4.025B
YoY Change -6.16%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $8.156B $8.311B $33.92B
YoY Change -1.86% 1.14% 3.94%
Income Tax $2.533B $2.519B $10.31B
% Of Pretax Income 31.06% 30.31% 30.39%
Net Earnings $5.575B $5.709B $23.06B
YoY Change -2.35% 1.76% 5.39%
Net Earnings / Revenue 48.49%
Basic Earnings Per Share $4.17
Diluted Earnings Per Share $1.077M $1.081M $4.10
COMMON SHARES
Basic Shares Outstanding 5.108B shares 5.237B shares
Diluted Shares Outstanding 5.324B shares

Balance Sheet

Concept 2015 Q4 2014 Q4 2014
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $239.5B $238.8B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $8.704B $8.743B $8.743B
YoY Change -0.45% -4.51% -4.51%
Goodwill $25.53B $25.71B
YoY Change -0.68% 0.27%
Intangibles
YoY Change
Long-Term Investments $13.65B $12.41B $12.41B
YoY Change 9.97% 3.49% 3.49%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1788B $1687B $1687B
YoY Change 5.96% 10.74% 10.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $59.45B $86.12B $74.87B
YoY Change -30.98% 29.63% 27.05%
Deferred Revenue
YoY Change
Short-Term Debt $97.53B $63.52B $63.52B
YoY Change 53.54% 17.88% 17.88%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $59.45B $86.12B $74.87B
YoY Change -30.98% 29.63% 27.05%
LONG-TERM LIABILITIES
Long-Term Debt $199.5B $183.9B $183.9B
YoY Change 8.48% 20.23% 20.23%
Other Long-Term Liabilities $13.92B
YoY Change
Total Long-Term Liabilities $213.5B $183.9B $183.9B
YoY Change 16.04% 20.23% 20.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.45B $86.12B $74.87B
Total Long-Term Liabilities $213.5B $183.9B $183.9B
Total Liabilities $1594B $1502B $1503B
YoY Change 6.12% 11.05% 11.04%
SHAREHOLDERS EQUITY
Retained Earnings $120.9B $107.0B
YoY Change 12.92% 15.89%
Common Stock $9.136B $9.136B
YoY Change 0.0% 0.0%
Preferred Stock $110.0M $109.0M
YoY Change 0.92% 14.74%
Treasury Stock (at cost) $18.87B $13.69B
YoY Change 37.82% 68.93%
Treasury Stock Shares 389.7M shares 311.5M shares
Shareholders Equity $193.0B $184.4B $184.4B
YoY Change
Total Liabilities & Shareholders Equity $1788B $1687B $1687B
YoY Change 5.96% 10.74% 10.74%

Cashflow Statement

Concept 2015 Q4 2014 Q4 2014
OPERATING ACTIVITIES
Net Income $5.575B $5.709B $23.06B
YoY Change -2.35% 1.76% 5.39%
Depreciation, Depletion And Amortization $892.0M $582.0M $2.515B
YoY Change 53.26% -25.86% -23.63%
Cash From Operating Activities -$3.897B $2.865B $17.53B
YoY Change -236.02% -80.14% -69.59%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions $174.0M
YoY Change
Other Investing Activities -$34.80B -$33.11B $891.0M
YoY Change 5.13% -34.75% -253.36%
Cash From Investing Activities -$34.80B -$33.11B -$128.4B
YoY Change 5.13% -34.75% -16.36%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.574B
YoY Change 141.83%
Debt Paid & Issued, Net $15.83B
YoY Change -37.74%
Cash From Financing Activities 40.42B 31.78B 110.5B
YoY Change 27.18% -14.81% 17.67%
NET CHANGE
Cash From Operating Activities -3.897B 2.865B 17.53B
Cash From Investing Activities -34.80B -33.11B -128.4B
Cash From Financing Activities 40.42B 31.78B 110.5B
Net Change In Cash 1.716B 1.539B -348.0M
YoY Change 11.5% 55.3% -82.07%
FREE CASH FLOW
Cash From Operating Activities -$3.897B $2.865B $17.53B
Capital Expenditures
Free Cash Flow
YoY Change

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CY2015Q4 wfc Carrying Value Of Delinquent Loans Eligible For Repurchase
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CY2016Q4 wfc Carrying Value Of Delinquent Loans Eligible For Repurchase
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wfc Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion Into Interest Income
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wfc Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Accretion Into Noninterest Income Due To Sales
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wfc Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Addition Due To Acquisitions
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CY2015 wfc Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Accretable Yield Addition Due To Acquisitions
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wfc Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Changes In Expected Cash Flows That Do Not Affect Nonaccretable Difference
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CY2016Q4 wfc Commonstockcapitalsharesnotreserved
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CY2015 wfc Cost And Equity Method Other Than Temporary Impairment
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CY2015Q4 wfc Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of Two Hundred Basis Point Adverse Change In Discount Rate
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfTwoHundredBasisPointAdverseChangeInDiscountRate
82000000 usd
CY2016Q4 wfc Sensitivity Analysis Of Fair Value Of Interests Continued To Be Held By Transferor Servicing Assets Or Liabilities Impact Of Two Hundred Basis Point Adverse Change In Discount Rate
SensitivityAnalysisOfFairValueOfInterestsContinuedToBeHeldByTransferorServicingAssetsOrLiabilitiesImpactOfTwoHundredBasisPointAdverseChangeInDiscountRate
154000000 usd
CY2014 wfc Servicing Asset At Fair Value Sum Of Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions And Net Derivative Gains Losses
ServicingAssetAtFairValueSumOfChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptionsAndNetDerivativeGainsLosses
1387000000 usd
CY2015 wfc Servicing Asset At Fair Value Sum Of Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions And Net Derivative Gains Losses
ServicingAssetAtFairValueSumOfChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptionsAndNetDerivativeGainsLosses
885000000 usd
CY2016 wfc Servicing Asset At Fair Value Sum Of Changes In Fair Value Resulting From Changes In Valuation Inputs Or Changes In Assumptions And Net Derivative Gains Losses
ServicingAssetAtFairValueSumOfChangesInFairValueResultingFromChangesInValuationInputsOrChangesInAssumptionsAndNetDerivativeGainsLosses
826000000 usd
CY2014 wfc Servicing Fees Non Interest Income
ServicingFeesNonInterestIncome
4113000000 usd
CY2015 wfc Servicing Fees Non Interest Income
ServicingFeesNonInterestIncome
3898000000 usd
CY2016 wfc Servicing Fees Non Interest Income
ServicingFeesNonInterestIncome
3368000000 usd
CY2014 wfc Share Based Compensation And Preferred Stock Released By Employee Stock Option Plan
ShareBasedCompensationAndPreferredStockReleasedByEmployeeStockOptionPlan
1912000000 usd
CY2015 wfc Share Based Compensation And Preferred Stock Released By Employee Stock Option Plan
ShareBasedCompensationAndPreferredStockReleasedByEmployeeStockOptionPlan
1958000000 usd
CY2016 wfc Share Based Compensation And Preferred Stock Released By Employee Stock Option Plan
ShareBasedCompensationAndPreferredStockReleasedByEmployeeStockOptionPlan
1945000000 usd
CY2014 wfc Short Term Debt Average Weighted Average Interest Rate
ShortTermDebtAverageWeightedAverageInterestRate
0.0010
CY2015 wfc Short Term Debt Average Weighted Average Interest Rate
ShortTermDebtAverageWeightedAverageInterestRate
0.0007
CY2016 wfc Short Term Debt Average Weighted Average Interest Rate
ShortTermDebtAverageWeightedAverageInterestRate
0.0029
CY2014 wfc Short Term Debt Maturity Period
ShortTermDebtMaturityPeriod
P30D
CY2015 wfc Short Term Debt Maturity Period
ShortTermDebtMaturityPeriod
P30D
CY2016 wfc Short Term Debt Maturity Period
ShortTermDebtMaturityPeriod
P30D
CY2015Q4 wfc Trading Assets
TradingAssets
64815000000 usd
CY2016Q4 wfc Trading Assets
TradingAssets
74397000000 usd
CY2014 wfc Transfers From Available For Sale Securities To Held To Maturity Securities
TransfersFromAvailableForSaleSecuritiesToHeldToMaturitySecurities
1810000000 usd
CY2015 wfc Transfers From Available For Sale Securities To Held To Maturity Securities
TransfersFromAvailableForSaleSecuritiesToHeldToMaturitySecurities
4972000000 usd
CY2016 wfc Transfers From Available For Sale Securities To Held To Maturity Securities
TransfersFromAvailableForSaleSecuritiesToHeldToMaturitySecurities
4161000000 usd
CY2014 wfc Transfers From Loans To Foreclosed Assets
TransfersFromLoansToForeclosedAssets
4094000000 usd
CY2015 wfc Transfers From Loans To Foreclosed Assets
TransfersFromLoansToForeclosedAssets
3274000000 usd
CY2016 wfc Transfers From Loans To Foreclosed Assets
TransfersFromLoansToForeclosedAssets
3092000000 usd
CY2014 wfc Transfers From Mortgage Held For Sale To Trading Assets
TransfersFromMortgageHeldForSaleToTradingAssets
28604000000 usd
CY2015 wfc Transfers From Mortgage Held For Sale To Trading Assets
TransfersFromMortgageHeldForSaleToTradingAssets
46291000000 usd
CY2016 wfc Transfers From Mortgage Held For Sale To Trading Assets
TransfersFromMortgageHeldForSaleToTradingAssets
72399000000 usd
CY2015Q4 wfc Unearned Esop Shares Cost
UnearnedESOPSharesCost
1362000000 usd
CY2016Q4 wfc Unearned Esop Shares Cost
UnearnedESOPSharesCost
1565000000 usd
CY2016Q4 wfc Unfunded Credit Commitments Consumer Mortgage Firstand Junior Linesof Credit Portfolio
UnfundedCreditCommitmentsConsumerMortgageFirstandJuniorLinesofCreditPortfolio
65900000000 usd
CY2015Q4 wfc Unpaid Principal Balance Of Mortgage Loans Eligible For Repurchase
UnpaidPrincipalBalanceOfMortgageLoansEligibleForRepurchase
1300000000 usd
CY2016Q4 wfc Unpaid Principal Balance Of Mortgage Loans Eligible For Repurchase
UnpaidPrincipalBalanceOfMortgageLoansEligibleForRepurchase
1200000000 usd
CY2014 wfc Unrealized Gain Loss On Mortgage Servicing Rights Mortgages Held For Sale And Loans Held For Sale
UnrealizedGainLossOnMortgageServicingRightsMortgagesHeldForSaleAndLoansHeldForSale
-1820000000 usd
CY2015 wfc Unrealized Gain Loss On Mortgage Servicing Rights Mortgages Held For Sale And Loans Held For Sale
UnrealizedGainLossOnMortgageServicingRightsMortgagesHeldForSaleAndLoansHeldForSale
-62000000 usd
CY2016 wfc Unrealized Gain Loss On Mortgage Servicing Rights Mortgages Held For Sale And Loans Held For Sale
UnrealizedGainLossOnMortgageServicingRightsMortgagesHeldForSaleAndLoansHeldForSale
-139000000 usd
CY2016Q4 wfc Unrecognized Tax Benefits Related To Income Tax Positions On Temporary Differences
UnrecognizedTaxBenefitsRelatedToIncomeTaxPositionsOnTemporaryDifferences
1800000000 usd
CY2014 wfc Unreimbursed Direct Servicing Costs
UnreimbursedDirectServicingCosts
694000000 usd
CY2015 wfc Unreimbursed Direct Servicing Costs
UnreimbursedDirectServicingCosts
625000000 usd
CY2016 wfc Unreimbursed Direct Servicing Costs
UnreimbursedDirectServicingCosts
819000000 usd
CY2015Q4 wfc Variable Interest Entity Nonconsolidated Assets
VariableInterestEntityNonconsolidatedAssets
1469435000000 usd
CY2016Q4 wfc Variable Interest Entity Nonconsolidated Assets
VariableInterestEntityNonconsolidatedAssets
1395604000000 usd
CY2015 wfc Warrants Purchased
WarrantsPurchased
0 shares
CY2016 wfc Warrants Purchased
WarrantsPurchased
0 shares
CY2015 wfc Weighted Average Contractual Yield On Available For Sale Debt Securities
WeightedAverageContractualYieldOnAvailableForSaleDebtSecurities
0.0355
CY2016 wfc Weighted Average Contractual Yield On Available For Sale Debt Securities
WeightedAverageContractualYieldOnAvailableForSaleDebtSecurities
0.0344
CY2015 wfc Weighted Average Contractual Yield On Available For Sale Debt Securities Expected To Mature After Five And Through Ten Years
WeightedAverageContractualYieldOnAvailableForSaleDebtSecuritiesExpectedToMatureAfterFiveAndThroughTenYears
0.0298
CY2016 wfc Weighted Average Contractual Yield On Available For Sale Debt Securities Expected To Mature After Five And Through Ten Years
WeightedAverageContractualYieldOnAvailableForSaleDebtSecuritiesExpectedToMatureAfterFiveAndThroughTenYears
0.0317
CY2015 wfc Weighted Average Contractual Yield On Available For Sale Debt Securities Expected To Mature After One And Through Five Years
WeightedAverageContractualYieldOnAvailableForSaleDebtSecuritiesExpectedToMatureAfterOneAndThroughFiveYears
0.0198
CY2016 wfc Weighted Average Contractual Yield On Available For Sale Debt Securities Expected To Mature After One And Through Five Years
WeightedAverageContractualYieldOnAvailableForSaleDebtSecuritiesExpectedToMatureAfterOneAndThroughFiveYears
0.0220
CY2015 wfc Weighted Average Contractual Yield On Available For Sale Debt Securities Expected To Mature After Ten Years
WeightedAverageContractualYieldOnAvailableForSaleDebtSecuritiesExpectedToMatureAfterTenYears
0.0407
CY2016 wfc Weighted Average Contractual Yield On Available For Sale Debt Securities Expected To Mature After Ten Years
WeightedAverageContractualYieldOnAvailableForSaleDebtSecuritiesExpectedToMatureAfterTenYears
0.0372
CY2015 wfc Weighted Average Contractual Yield On Available For Sale Debt Securities Expected To Mature Within One Year
WeightedAverageContractualYieldOnAvailableForSaleDebtSecuritiesExpectedToMatureWithinOneYear
0.0284
CY2016 wfc Weighted Average Contractual Yield On Available For Sale Debt Securities Expected To Mature Within One Year
WeightedAverageContractualYieldOnAvailableForSaleDebtSecuritiesExpectedToMatureWithinOneYear
0.0193
CY2014 wfc Weighted Average Rate Reduction Related To Loan Modifications
WeightedAverageRateReductionRelatedToLoanModifications
0.0341
CY2015 wfc Weighted Average Rate Reduction Related To Loan Modifications
WeightedAverageRateReductionRelatedToLoanModifications
0.0377
CY2016 wfc Weighted Average Rate Reduction Related To Loan Modifications
WeightedAverageRateReductionRelatedToLoanModifications
0.0413
CY2016 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-indent:24px;font-size:9pt;"><font style="font-family:Georgia,serif;font-size:9pt;">Our accounting and reporting policies conform with U.S. generally accepted accounting principles (GAAP) and practices in the financial services industry. To prepare the financial statements in conformity with GAAP, management must make estimates based on assumptions about future economic and market conditions (for example, unemployment, market liquidity, real estate prices, etc.) that affect the reported amounts of assets and liabilities at the date of the financial statements, income and expenses during the reporting period and the related disclosures. Although our estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition. Management has made significant estimates in several areas, including allowance for credit losses and purchased credit-impaired (PCI) loans (Note 6 (Loans and Allowance for Credit Losses)), valuations of residential mortgage servicing rights (MSRs) (Note 8 (Securitizations and Variable Interest Entities) and Note 9 (Mortgage Banking Activities)) and financial instruments (Note&#160;17 (Fair Values of Assets and Liabilities)) and income taxes (Note 21 (Income Taxes)). Actual results could differ from those estimates.</font></div></div>

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