2021 Q4 Form 10-K Financial Statement

#000007297122000096 Filed on February 22, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $78.49B
YoY Change 5.69%
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 $1.800B $7.890B $2.292B
YoY Change -21.47% -9.68% 7.35%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $3.915B
YoY Change -50.84%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $8.110B $28.82B $3.866B
YoY Change 109.78% 1050.34% 7.33%
Income Tax $1.711B $5.578B $574.0M
% Of Pretax Income 21.1% 19.36% 14.85%
Net Earnings $5.750B $21.55B $3.091B
YoY Change 86.02% 538.08% 7.59%
Net Earnings / Revenue 27.45%
Basic Earnings Per Share $4.99
Diluted Earnings Per Share $1.450M $4.95 $744.6K
COMMON SHARES
Basic Shares Outstanding 3.987B shares 4.062B shares 4.134B shares
Diluted Shares Outstanding 4.096B shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $234.2B $264.6B
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 $12.38B $12.38B $13.20B
YoY Change -6.25% -6.25% 41.81%
Goodwill $25.18B $26.39B
YoY Change -4.59% 0.01%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1948B $1948B $1953B
YoY Change -0.25% -0.25% 1.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $70.96B $68.17B $74.36B
YoY Change -4.58% -2.15% -1.07%
Deferred Revenue
YoY Change
Short-Term Debt $34.41B $34.41B $59.00B
YoY Change -41.68% -41.68% -43.55%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $70.96B $68.17B $74.36B
YoY Change -4.58% -2.15% -1.07%
LONG-TERM LIABILITIES
Long-Term Debt $160.7B $160.7B $213.0B
YoY Change -24.54% -24.54% -6.68%
Other Long-Term Liabilities $9.424B $9.424B $16.51B
YoY Change -42.92% -42.92% 81.84%
Total Long-Term Liabilities $170.1B $170.1B $229.5B
YoY Change -25.86% -25.86% -3.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $70.96B $68.17B $74.36B
Total Long-Term Liabilities $170.1B $170.1B $229.5B
Total Liabilities $1758B $1760B $1767B
YoY Change -0.52% -0.44% 1.59%
SHAREHOLDERS EQUITY
Retained Earnings $180.3B $162.7B
YoY Change 10.84% -2.41%
Common Stock $9.136B $9.136B
YoY Change 0.0% 0.0%
Preferred Stock $37.00M $53.00M
YoY Change -30.19% -25.35%
Treasury Stock (at cost) $79.76B $67.79B
YoY Change 17.65% -1.51%
Treasury Stock Shares 1.596B shares 1.338B shares
Shareholders Equity $187.6B $187.6B $184.7B
YoY Change
Total Liabilities & Shareholders Equity $1948B $1948B $1953B
YoY Change -0.25% -0.25% 1.32%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income $5.750B $21.55B $3.091B
YoY Change 86.02% 538.08% 7.59%
Depreciation, Depletion And Amortization $1.800B $7.890B $2.292B
YoY Change -21.47% -9.68% 7.35%
Cash From Operating Activities $4.817B -$11.53B -$22.77B
YoY Change -121.16% -661.92% -283.25%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$31.40B -$3.782B $20.51B
YoY Change -253.09% 382.4% -912.03%
Cash From Investing Activities -$31.40B -$7.619B $20.51B
YoY Change -253.09% -106.22% -912.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $14.46B
YoY Change 408.58%
Debt Paid & Issued, Net $47.13B
YoY Change -27.87%
Cash From Financing Activities -5.872B -$11.24B 20.10B
YoY Change -129.22% 804.1% -215.63%
NET CHANGE
Cash From Operating Activities 4.817B -$11.53B -22.77B
Cash From Investing Activities -31.40B -$7.619B 20.51B
Cash From Financing Activities -5.872B -$11.24B 20.10B
Net Change In Cash -32.46B -$30.38B 17.84B
YoY Change -281.91% -124.63% -338.5%
FREE CASH FLOW
Cash From Operating Activities $4.817B -$11.53B -$22.77B
Capital Expenditures
Free Cash Flow
YoY Change

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CY2020 us-gaap Proceeds From Payments For Other Financing Activities
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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:<div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.5pt">allowance for credit losses (Note 4 (Loans and Related Allowance for Credit Losses)); </span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.5pt">valuations of residential mortgage servicing rights (MSRs) (Note 8 (Securitizations and Variable Interest Entities) and Note 9 (Mortgage Banking Activities)); </span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.5pt">valuations of financial instruments (Note 17 (Fair Values of Assets and Liabilities));</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.5pt">liabilities for contingent litigation losses (Note 15 (Legal Actions));</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.5pt">income taxes; and</span></div><div style="padding-left:18pt;text-indent:-18pt"><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">•</span><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%;padding-left:14.5pt">goodwill impairment (Note 10 (Intangible Assets)).</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Wells Fargo Sans',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Actual results could differ from those estimates.</span></div>
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