EX-99.2 3 wfc2qer07-15x22ex992xsuppl.htm EX-99.2 Document
Exhibit 99.2                                                                        
erwellsfargoimagea06.jpg










2Q22 Quarterly Supplement


Wells Fargo & Company and Subsidiaries
QUARTERLY FINANCIAL DATA
TABLE OF CONTENTS
Pages
Consolidated Results
Average Balances and Interest Rates (Taxable-Equivalent Basis)
Reportable Operating Segment Results
Consumer Banking and Lending
Commercial Banking
Corporate and Investment Banking
Wealth and Investment Management
Corporate
Credit-Related Information
Consolidated Loans Outstanding – Period End Balances, Average Balances, and Average Interest Rates
Net Loan Charge-offs
Changes in Allowance for Credit Losses for Loans
Allocation of the Allowance for Credit Losses for Loans
Nonperforming Assets (Nonaccrual Loans and Foreclosed Assets)
Commercial and Industrial Loans and Lease Financing by Industry
Commercial Real Estate Loans by Property Type
Equity
Tangible Common Equity
Risk-Based Capital Ratios Under Basel III – Standardized Approach
Risk-Based Capital Ratios Under Basel III – Advanced Approach
Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Quarterly Report on Form 10-Q for the quarter ended June 30, 2022, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information.


Wells Fargo & Company and Subsidiaries
SUMMARY FINANCIAL DATA
Quarter endedJun 30, 2022
% Change from		Six months ended
(in millions, except per share amounts)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021		Jun 30,
2022		Jun 30,
2021		%
Change
Selected Income Statement Data
Total revenue$17,028 17,592 20,856 18,834 20,270 (3)%(16)$34,620 38,802 (11)%
Noninterest expense12,883 13,870 13,198 13,303 13,341 (7)(3)26,753 27,330 (2)
Pre-tax pre-provision profit (PTPP) (1)4,145 3,722 7,658 5,531 6,929 11 (40)7,867 11,472 (31)
Provision for credit losses580 (787)(452)(1,395)(1,260)174 146 (207)(2,308)(91)
Wells Fargo net income3,119 3,671 5,750 5,122 6,040 (15)(48)6,790 10,676 (36)
Wells Fargo net income applicable to common stock2,839 3,393 5,470 4,787 5,743 (16)(51)6,232 9,999 (38)
Common Share Data
Diluted earnings per common share0.74 0.88 1.38 1.17 1.38 (16)(46)1.62 2.40 (33)
Dividends declared per common share0.25 0.25 0.20 0.20 0.10 — 150 0.50 0.20 150 
Common shares outstanding3,793.0 3,789.9 3,885.8 3,996.9 4,108.0 — (8)
Average common shares outstanding3,793.8 3,831.1 3,927.6 4,056.3 4,124.6 (1)(8)3,812.3 4,132.9 (8)
Diluted average common shares outstanding3,819.6 3,868.9 3,964.7 4,090.4 4,156.1 (1)(8)3,845.0 4,164.6 (8)
Book value per common share (2)$41.72 42.21 43.32 42.47 41.74 (1)— 
Tangible book value per common share (2)(3)34.66 35.13 36.35 35.54 34.95 (1)(1)
Selected Equity Data (period-end)
Total equity179,793 181,689 190,110 191,071 193,127 (1)(7)
Common stockholders' equity158,256 159,968 168,331 169,753 171,453 (1)(8)
Tangible common equity (3)131,460 133,144 141,254 142,047 143,577 (1)(8)
Performance Ratios
Return on average assets (ROA) (4)0.66 %0.78 1.17 1.04 1.25 0.72 %1.11 
Return on average equity (ROE) (5)7.1 8.4 12.8 11.1 13.6 7.8 12.0 
Return on average tangible common equity (ROTCE) (3)8.6 10.0 15.3 13.2 16.3 9.3 14.4 
Efficiency ratio (6)76 79 63 71 66 77 70 
Net interest margin on a taxable-equivalent basis2.39 2.16 2.11 2.03 2.02 2.27 2.04 
(1)Pre-tax pre-provision profit (PTPP) is total revenue less noninterest expense. Management believes that PTPP is a useful financial measure because it enables investors and others to assess the Company’s ability to generate capital to cover credit losses through a credit cycle.
(2)Book value per common share is common stockholders' equity divided by common shares outstanding. Tangible book value per common share is tangible common equity divided by common shares outstanding.
(3)Tangible common equity, tangible book value per common share, and return on average tangible common equity are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” tables on pages 25 and 26.
(4)Represents Wells Fargo net income divided by average assets.
(5)Represents Wells Fargo net income applicable to common stock divided by average common stockholders’ equity.
(6)The efficiency ratio is noninterest expense divided by total revenue (net interest income and noninterest income).




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Wells Fargo & Company and Subsidiaries
SUMMARY FINANCIAL DATA (continued)
Quarter endedJun 30, 2022
% Change from		Six months ended
($ in millions, unless otherwise noted)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021		Jun 30,
2022		Jun 30,
2021		%
Change
Selected Balance Sheet Data (average)
Loans$926,567 898,005 875,036 854,024 854,747 3 %8 $912,365 864,041 6 %
Assets1,902,571 1,919,392 1,943,430 1,949,700 1,939,879 (1)(2)1,910,935 1,937,167 (1)
Deposits1,445,793 1,464,072 1,470,027 1,450,941 1,435,824 (1)1 1,454,882 1,414,765 3 
Selected Balance Sheet Data (period-end)
Debt securities516,772 535,916 537,531 542,993 533,565 (4)(3)
Loans943,734 911,807 895,394 862,827 852,300 4 11 
Allowance for credit losses for loans12,884 12,681 13,788 14,705 16,391 2 (21)
Equity securities61,774 70,755 72,886 66,526 64,547 (13)(4)
Assets1,881,142 1,939,709 1,948,068 1,954,901 1,945,996 (3)(3)
Deposits1,425,153 1,481,354 1,482,479 1,470,379 1,440,472 (4)(1)
Headcount (#) (period-end)243,674 246,577 249,435 253,871 259,196 (1)(6)
Capital and other metrics (1)
Risk-based capital ratios and components (2):
Standardized Approach:
Common Equity Tier 1 (CET1)10.3 %10.5 11.4 11.6 12.1 
Tier 1 capital11.9 12.0 12.9 13.2 13.7 
Total capital14.6 14.7 15.8 16.2 16.8 
Risk-weighted assets (RWAs) (in billions)$1,257.1 1,265.5 1,239.0 1,218.9 1,188.7 (1)6 
Advanced Approach:
Common Equity Tier 1 (CET1)11.6 %11.8 12.6 12.4 12.7 
Tier 1 capital13.3 13.5 14.3 14.1 14.5 
Total capital15.6 15.9 16.7 16.5 16.9 
Risk-weighted assets (RWAs) (in billions)$1,123.2 1,119.5 1,116.1 1,138.6 1,126.5 — — 
Tier 1 leverage ratio8.0 %8.0 8.3 8.4 8.5 
Supplementary Leverage Ratio (SLR)
6.6 6.6 6.9 6.9 7.1 
Total Loss Absorbing Capacity (TLAC) Ratio (3)
22.7 22.3 23.0 23.7 25.1 
Liquidity Coverage Ratio (LCR) (4)
121 119 118 119 123 
(1)Ratios and metrics for June 30, 2022, are preliminary estimates.
(2)See the tables on pages 27 and 28 for more information on CET1, tier 1 capital, and total capital.
(3)Represents TLAC divided by risk-weighted assets (RWAs), which is our binding TLAC ratio, determined by using the greater of RWAs under the Standardized and Advanced Approaches.
(4)Represents average high-quality liquid assets divided by average projected net cash outflows, as each is defined under the LCR rule.

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Wells Fargo & Company and Subsidiaries
CONSOLIDATED STATEMENT OF INCOME
Quarter endedJun 30, 2022
% Change from		Six months ended
(in millions, except per share amounts)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021		Jun 30,
2022		Jun 30,
2021		%
Change
Interest income$11,556 10,181 10,121 9,834 9,693 14 %19 $21,737 19,739 10 %
Interest expense1,358 960 859 925 893 41 52 2,318 2,131 9 
Net interest income10,198 9,221 9,262 8,909 8,800 11 16 19,419 17,608 10 
Noninterest income
Deposit-related fees1,376 1,473 1,462 1,416 1,342 (7)3 2,849 2,597 10 
Lending-related fees353 342 357 365 362 3 (2)695 723 (4)
Investment advisory and other asset-based fees2,346 2,498 2,579 2,882 2,794 (6)(16)4,844 5,550 (13)
Commissions and brokerage services fees542 537 558 525 580 1 (7)1,079 1,216 (11)
Investment banking fees286 447 669 547 570 (36)(50)733 1,138 (36)
Card fees1,112 1,029 1,071 1,078 1,077 8 3 2,141 2,026 6 
Mortgage banking287 693 1,035 1,259 1,336 (59)(79)980 2,662 (63)
Net gains (losses) from trading activities446 218 (177)92 21 105 NM664 369 80 
Net gains from debt securities143 2 119 283 — NMNM145 151 (4)
Net gains (losses) from equity securities(615)576 2,470 869 2,696 NMNM(39)3,088 NM
Lease income333 327 46 322 313 2 6 660 628 5 
Other221 229 1,405 287 379 (3)(42)450 1,046 (57)
Total noninterest income6,830 8,371 11,594 9,925 11,470 (18)(40)15,201 21,194 (28)
Total revenue17,028 17,592 20,856 18,834 20,270 (3)(16)34,620 38,802 (11)
Provision for credit losses580 (787)(452)(1,395)(1,260)174 146 (207)(2,308)91
Noninterest expense
Personnel8,442 9,271 8,475 8,690 8,818 (9)(4)17,713 18,376 (4)
Technology, telecommunications and equipment799 876 827 741 815 (9)(2)1,675 1,659 1 
Occupancy705 722 725 738 735 (2)(4)1,427 1,505 (5)
Operating losses576 673 512 540 303 (14)90 1,249 516 142 
Professional and outside services1,310 1,286 1,468 1,417 1,450 2 (10)2,596 2,838 (9)
Leases (1)185 188 195 220 226 (2)(18)373 452 (17)
Advertising and promotion102 99 225 153 132 3 (23)201 222 (9)
Restructuring charges— 5 66 1 (4)(100)100 5 9 (44)
Other764 750 705 803 866 2 (12)1,514 1,753 (14)
Total noninterest expense12,883 13,870 13,198 13,303 13,341 (7)(3)26,753 27,330 (2)
Income before income tax expense3,565 4,509 8,110 6,926 8,189 (21)(56)8,074 13,780 (41)
Income tax expense613 707 1,711 1,521 1,445 (13)(58)1,320 2,346 (44)
Net income before noncontrolling interests2,952 3,802 6,399 5,405 6,744 (22)(56)6,754 11,434 (41)
Less: Net income (loss) from noncontrolling interests(167)131 649 283 704 NMNM(36)758 NM
Wells Fargo net income$3,119 3,671 5,750 5,122 6,040 (15)%(48)$6,790 10,676 (36)
Less: Preferred stock dividends and other280 278 280 335 297 1 (6)558 677 (18)
Wells Fargo net income applicable to common stock$2,839 3,393 5,470 4,787 5,743 (16)%(51)$6,232 9,999 (38)
Per share information
Earnings per common share$0.75 0.89 1.39 1.18 1.39 (16)(46)$1.63 2.42 (33)
Diluted earnings per common share0.74 0.88 1.38 1.17 1.38 (16)(46)1.62 2.40 (33)
NM – Not meaningful
(1)Represents expenses for assets we lease to customers.
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Wells Fargo & Company and Subsidiaries
CONSOLIDATED BALANCE SHEET
Jun 30, 2022
% Change from
(in millions)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021
Assets
Cash and due from banks$29,716 27,454 24,616 25,509 25,304 8 %17 
Interest-earning deposits with banks125,424 174,441 209,614 241,178 248,869 (28)(50)
Total cash, cash equivalents, and restricted cash155,140 201,895 234,230 266,687 274,173 (23)(43)
Federal funds sold and securities purchased under resale agreements55,546 67,764 66,223 67,807 70,149 (18)(21)
Debt securities:
Trading, at fair value89,157 86,672 88,265 94,943 82,727 3 8 
Available-for-sale, at fair value125,832 168,436 177,244 185,557 189,897 (25)(34)
Held-to-maturity, at amortized cost301,783 280,808 272,022 262,493 260,941 7 16 
Loans held for sale9,674 19,824 23,617 24,811 25,594 (51)(62)
Loans943,734 911,807 895,394 862,827 852,300 4 11 
Allowance for loan losses(11,786)(11,504)(12,490)(13,517)(15,148)(2)22 
Net loans931,948 900,303 882,904 849,310 837,152 4 11 
Mortgage servicing rights10,386 9,753 8,189 8,148 8,009 6 30 
Premises and equipment, net8,444 8,473 8,571 8,599 8,745 — (3)
Goodwill25,178 25,181 25,180 26,191 26,194 — (4)
Derivative assets 24,896 27,365 21,478 27,060 25,415 (9)(2)
Equity securities61,774 70,755 72,886 66,526 64,547 (13)(4)
Other assets81,384 72,480 67,259 66,769 72,453 12 12 
Total assets$1,881,142 1,939,709 1,948,068 1,954,901 1,945,996 (3)(3)
Liabilities
Noninterest-bearing deposits$515,437 529,957 527,748 529,051 504,108 (3)2 
Interest-bearing deposits909,716 951,397 954,731 941,328 936,364 (4)(3)
Total deposits1,425,153 1,481,354 1,482,479 1,470,379 1,440,472 (4)(1)
Short-term borrowings37,075 33,601 34,409 41,980 45,635 10 (19)
Derivative liabilities 17,168 15,499 9,424 12,976 14,551 11 18 
Accrued expenses and other liabilities71,662 74,229 70,957 75,513 72,555 (3)(1)
Long-term debt150,291 153,337 160,689 162,982 179,656 (2)(16)
Total liabilities1,701,349 1,758,020 1,757,958 1,763,830 1,752,869 (3)(3)
Equity
Wells Fargo stockholders’ equity:
Preferred stock20,057 20,057 20,057 20,270 20,820 — (4)
Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares
9,136 9,136 9,136 9,136 9,136 — — 
Additional paid-in capital60,024 59,899 60,196 60,134 60,018 — — 
Retained earnings184,475 182,623 180,322 175,709 171,765 1 7 
Accumulated other comprehensive income (loss)(10,608)(6,767)(1,702)(1,177)(564)(57)NM
Treasury stock (1)(84,906)(85,059)(79,757)(74,169)(69,038)— (23)
Unearned ESOP shares(646)(646)(646)(875)(875)— 26 
Total Wells Fargo stockholders’ equity177,532 179,243 187,606 189,028 191,262 (1)(7)
Noncontrolling interests2,261 2,446 2,504 2,043 1,865 (8)21 
Total equity179,793 181,689 190,110 191,071 193,127 (1)(7)
Total liabilities and equity$1,881,142 1,939,709 1,948,068 1,954,901 1,945,996 (3)(3)
NM – Not meaningful
(1)Number of shares of treasury stock were 1,688,846,993, 1,691,916,667, 1,596,009,977, 1,484,890,493, and 1,373,813,200 at June 30, and March 31, 2022, and December 31, September 30, and June 30, 2021, respectively.
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Wells Fargo & Company and Subsidiaries
AVERAGE BALANCES AND INTEREST RATES (TAXABLE-EQUIVALENT BASIS)(1)
Quarter endedJun 30, 2022
% Change from		Six months ended%
Change
 ($ in millions)Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 30, 2021Jun 30, 2021Mar 31, 2022Jun 30, 2021Jun 30, 2022Jun 30, 2021
Average Balances
Assets
Interest-earning deposits with banks$146,271 179,051 216,061 250,314 255,237 (18)%(43)$162,570 239,425 (32)%
Federal funds sold and securities purchased under resale agreements60,450 64,845 65,388 68,912 72,513 (7)(17)62,636 72,332 (13)
Trading debt securities89,258 90,677 92,597 88,476 84,612 (2)5 89,964 85,990 5 
Available-for-sale debt securities147,138 169,048 178,770 179,237 192,418 (13)(24)158,032 199,642 (21)
Held-to-maturity debt securities298,101 279,245 264,695 261,182 237,812 7 25 288,725 227,377 27 
Loans held for sale14,828 19,513 24,149 24,490 27,173 (24)(45)17,158 30,843 (44)
Loans926,567 898,005 875,036 854,024 854,747 3 8 912,365 864,041 6 
Equity securities30,770 33,282 35,711 32,790 29,773 (8)3 32,019 29,604 8 
Other16,085 11,498 11,514 10,070 9,103 40 77 13,804 9,299 48 
Total interest-earning assets1,729,468 1,745,164 1,763,921 1,769,495 1,763,388 (1)(2)1,737,273 1,758,553 (1)
Total noninterest-earning assets173,103 174,228 179,509 180,205 176,491 (1)(2)173,662 178,614 (3)
Total assets$1,902,571 1,919,392 1,943,430 1,949,700 1,939,879 (1)(2)$1,910,935 1,937,167 (1)
Liabilities
Interest-bearing deposits$924,526 945,335 938,682 941,014 941,746 (2)(2)$934,873 936,460 — 
Short-term borrowings35,591 32,758 37,845 43,899 48,505 9 (27)34,182 53,764 (36)
Long-term debt151,230 153,803 161,335 174,643 181,101 (2)(16)152,509 189,673 (20)
Other liabilities35,583 31,092 28,245 30,387 27,718 14 28 33,350 28,294 18 
Total interest-bearing liabilities1,146,930 1,162,988 1,166,107 1,189,943 1,199,070 (1)(4)1,154,914 1,208,191 (4)
Noninterest-bearing demand deposits521,267 518,737 531,345 509,927 494,078 — 6 520,009 478,305 9 
Other noninterest-bearing liabilities53,358 51,330 55,234 55,789 55,763 4 (4)52,350 60,645 (14)
Total liabilities1,721,555 1,733,055 1,752,686 1,755,659 1,748,911 (1)(2)1,727,273 1,747,141 (1)
Total equity181,016 186,337 190,744 194,041 190,968 (3)(5)183,662 190,026 (3)
 Total liabilities and equity$1,902,571 1,919,392 1,943,430 1,949,700 1,939,879 (1)(2)$1,910,935 1,937,167 (1)
Average Interest Rates
Interest-earning assets
Interest-earning deposits with banks0.88 %0.22 0.16 0.15 0.11 0.52 %0.11 
Federal funds sold and securities purchased under resale agreements0.47 (0.05)(0.01)0.03 0.02 0.20 0.03 
Trading debt securities2.50 2.44 2.39 2.33 2.37 2.47 2.41 
Available-for-sale debt securities1.91 1.72 1.55 1.57 1.43 1.81 1.53 
Held-to-maturity debt securities2.06 1.98 1.86 1.87 1.86 2.02 1.88 
Loans held for sale3.41 2.86 2.79 2.81 2.85 3.10 3.41 
Loans3.52 3.25 3.32 3.29 3.33 3.39 3.33 
Equity securities2.51 2.05 2.16 1.78 1.77 2.27 1.82 
Other0.65 0.12 0.09 0.09 0.04 0.43 0.04 
Total interest-earning assets2.70 2.38 2.31 2.24 2.23 2.54 2.28 
Interest-bearing liabilities
Interest-bearing deposits0.07 0.04 0.04 0.04 0.04 0.05 0.04 
Short-term borrowings0.34 (0.17)(0.14)(0.06)(0.09)0.10 (0.08)
Long-term debt2.67 1.98 1.71 1.71 1.57 2.32 1.83 
Other liabilities1.78 1.68 1.38 1.15 1.47 1.74 1.49 
Total interest-bearing liabilities0.47 0.33 0.29 0.31 0.30 0.40 0.35 
Interest rate spread on a taxable-equivalent basis (2)2.23 2.05 2.02 1.93 1.93 2.14 1.93 
Net interest margin on a taxable-equivalent basis (2)2.39 2.16 2.11 2.03 2.02 2.27 2.04 
(1)The average balance amounts represent amortized costs. The interest rates are based on interest income or expense amounts for the period and are annualized, if applicable. Interest rates include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(2)Includes taxable-equivalent adjustments of $108 million, $107 million, $106 million, $105 million and $109 million for the quarters ended June 30 and March 31, 2022, and December 31, September 30 and June 30, 2021, respectively, and $215 million and $216 million for the first half of 2022 and 2021, respectively, predominantly related to tax-exempt income on certain loans and securities. The federal statutory tax rate utilized was 21% for the periods presented.
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Wells Fargo & Company and Subsidiaries
COMBINED SEGMENT RESULTS (1)
Quarter ended June 30, 2022
(in millions)Consumer Banking and LendingCommercial BankingCorporate and Investment BankingWealth and Investment ManagementCorporate (2)Reconciling Items (3)Consolidated
Company
Net interest income$6,372 1,580 2,057 916 (619)(108)10,198 
Noninterest income2,135 912 1,516 2,789 (114)(408)6,830 
Total revenue8,507 2,492 3,573 3,705 (733)(516)17,028 
Provision for credit losses613 21 (62)(7)15 — 580 
Noninterest expense6,036 1,478 1,840 2,911 618 — 12,883 
Income (loss) before income tax expense (benefit)1,858 993 1,795 801 (1,366)(516)3,565 
Income tax expense (benefit)465 249 459 198 (242)(516)613 
Net income (loss) before noncontrolling interests1,393 744 1,336 603 (1,124)— 2,952 
Less: Net income (loss) from noncontrolling interests— 3 — — (170)— (167)
Net income (loss)$1,393 741 1,336 603 (954)— 3,119 
Quarter ended March 31, 2022
Net interest income$5,996 1,361 1,990 799 (818)(107)9,221 
Noninterest income2,567 966 1,480 2,958 806 (406)8,371 
Total revenue8,563 2,327 3,470 3,757 (12)(513)17,592 
Provision for credit losses(190)(344)(196)(37)(20)— (787)
Noninterest expense6,395 1,531 1,983 3,175 786 — 13,870 
Income (loss) before income tax expense (benefit)2,358 1,140 1,683 619 (778)(513)4,509 
Income tax expense (benefit)588 280 425 154 (227)(513)707 
Net income (loss) before noncontrolling interests1,770 860 1,258 465 (551)— 3,802 
Less: Net income from noncontrolling interests— 3 — — 128 — 131 
Net income (loss)$1,770 857 1,258 465 (679)— 3,671 
Quarter ended June 30, 2021
Net interest income$5,618 1,202 1,783 610 (304)(109)8,800 
Noninterest income3,068 906 1,555 2,926 3,327 (312)11,470 
Total revenue8,686 2,108 3,338 3,536 3,023 (421)20,270 
Provision for credit losses(367)(382)(501)24 (34)— (1,260)
Noninterest expense6,202 1,443 1,805 2,891 1,000 — 13,341 
Income (loss) before income tax expense (benefit)2,851 1,047 2,034 621 2,057 (421)8,189 
Income tax expense (benefit)713 261 513 156 223 (421)1,445 
Net income before noncontrolling interests2,138 786 1,521 465 1,834 — 6,744 
Less: Net income (loss) from noncontrolling interests— 2 (2)— 704 — 704 
Net income$2,138 784 1,523 465 1,130 — 6,040 
(1)The management reporting process is based on U.S. GAAP and includes specific adjustments, such as for funds transfer pricing for asset/liability management, shared revenues and expenses, and taxable-equivalent adjustments to consistently reflect income from taxable and tax-exempt sources, which allows management to assess performance across the operating segments. We define our operating segments by type of product and customer segment.
(2)All other business activities that are not included in the reportable operating segments have been included in Corporate. Corporate includes corporate treasury and enterprise functions, net of allocations (including funds transfer pricing, capital, liquidity and certain expenses), in support of the reportable operating segments, as well as our investment portfolio and affiliated venture capital and private equity businesses. Corporate also includes certain lines of business that management has determined are no longer consistent with the long-term strategic goals of the Company, as well as previously divested businesses.
(3)Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for low-income housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company’s consolidated financial results.
-8-

Wells Fargo & Company and Subsidiaries
COMBINED SEGMENT RESULTS (continued) (1)
Six months ended June 30, 2022
(in millions)Consumer Banking and LendingCommercial BankingCorporate and Investment BankingWealth and Investment ManagementCorporate (2)Reconciling Items (3)Consolidated
Company
Net interest income$12,368 2,941 4,047 1,715 (1,437)(215)19,419 
Noninterest income4,702 1,878 2,996 5,747 692 (814)15,201 
Total revenue17,070 4,819 7,043 7,462 (745)(1,029)34,620 
Provision for credit losses423 (323)(258)(44)(5)— (207)
Noninterest expense12,431 3,009 3,823 6,086 1,404 — 26,753 
Income (loss) before income tax expense (benefit)
4,216 2,133 3,478 1,420 (2,144)(1,029)8,074 
Income tax expense (benefit)1,053 529 884 352 (469)(1,029)1,320 
Net income (loss) before noncontrolling interests3,163 1,604 2,594 1,068 (1,675)— 6,754 
Less: Net income (loss) from noncontrolling interests
— 6 — — (42)— (36)
Net income (loss)$3,163 1,598 2,594 1,068 (1,633)— 6,790 
Six months ended June 30, 2021
Net interest income$11,233 2,456 3,562 1,267 (694)(216)17,608 
Noninterest income6,107 1,733 3,380 5,813 4,744 (583)21,194 
Total revenue17,340 4,189 6,942 7,080 4,050 (799)38,802 
Provision for credit losses(786)(781)(785)(19)63 — (2,308)
Noninterest expense12,469 3,073 3,638 5,919 2,231 — 27,330 
Income (loss) before income tax expense (benefit)
5,657 1,897 4,089 1,180 1,756 (799)13,780 
Income tax expense (benefit)1,415 473 1,013 296 (52)(799)2,346 
Net income before noncontrolling interests4,242 1,424 3,076 884 1,808 — 11,434 
Less: Net income (loss) from noncontrolling interests— 3 (2)— 757 — 758 
Net income$4,242 1,421 3,078 884 1,051 — 10,676 
(1)The management reporting process is based on U.S. GAAP and includes specific adjustments, such as for funds transfer pricing for asset/liability management, shared revenues and expenses, and taxable-equivalent adjustments to consistently reflect income from taxable and tax-exempt sources, which allows management to assess performance across the operating segments. We define our operating segments by type of product and customer segment.
(2)All other business activities that are not included in the reportable operating segments have been included in Corporate. Corporate includes corporate treasury and enterprise functions, net of allocations (including funds transfer pricing, capital, liquidity and certain expenses), in support of the reportable operating segments, as well as our investment portfolio and affiliated venture capital and private equity businesses. Corporate also includes certain lines of business that management has determined are no longer consistent with the long-term strategic goals of the Company, as well as previously divested businesses.
(3)Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for low-income housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company’s consolidated financial results.
-9-

Wells Fargo & Company and Subsidiaries
CONSUMER BANKING AND LENDING SEGMENT
Quarter endedJun 30, 2022
% Change from		Six months ended
($ in millions)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021		Jun 30,
2022		Jun 30,
2021		%
Change
Income Statement
Net interest income $6,372 5,996 5,867 5,707 5,618 6 %13 $12,368 11,233 10 %
Noninterest income:
Deposit-related fees 779 845 853 799 732 (8)6 1,624 1,393 17 
Card fees 1,038 961 1,007 1,014 1,017 8 2 1,999 1,909 5 
Mortgage banking 211 654 905 1,168 1,158 (68)(82)865 2,417 (64)
Other107 107 101 116 161 — (34)214 388 (45)
Total noninterest income 2,135 2,567 2,866 3,097 3,068 (17)(30)4,702 6,107 (23)
Total revenue 8,507 8,563 8,733 8,804 8,686 (1)(2)17,070 17,340 (2)
Net charge-offs358 375 408 302 359 (5)— 733 729 1 
Change in the allowance for credit losses255 (565)(282)(820)(726)145135 (310)(1,515)80
Provision for credit losses613 (190)126 (518)(367)423267 423 (786)154
Noninterest expense6,036 6,395 6,126 6,053 6,202 (6)(3)12,431 12,469 — 
Income before income tax expense1,858 2,358 2,481 3,269 2,851 (21)(35)4,216 5,657 (25)
Income tax expense465 588 619 818 713 (21)(35)1,053 1,415 (26)
Net income$1,393 1,770 1,862 2,451 2,138 (21)(35)$3,163 4,242 (25)
Revenue by Line of Business
Consumer and Small Business Banking$5,510 5,071 4,872 4,822 4,714 9 17 $10,581 9,264 14 
Consumer Lending:
Home Lending972 1,490 1,843 2,012 2,072 (35)(53)2,462 4,299 (43)
Credit Card1,304 1,265 1,271 1,251 1,218 3 7 2,569 2,406 7 
Auto436 444 470 445 415 (2)5 880 818 8 
Personal Lending285 293 277 274 267 (3)7 578 553 5 
Total revenue$8,507 8,563 8,733 8,804 8,686 (1)(2)$17,070 17,340 (2)
Selected Balance Sheet Data (average)
Loans by Line of Business:
Consumer and Small Business Banking$10,453 10,605 12,573 15,122 18,768 (1)(44)$10,529 19,449 (46)
Consumer Lending:
Home Lending218,371 213,714 214,900 217,011 223,229 2 (2)216,055 233,078 (7)
Credit Card32,825 31,503 30,375 28,925 28,003 4 17 32,168 28,444 13 
Auto56,813 57,278 55,773 53,043 50,762 (1)12 57,044 50,143 14 
Personal Lending12,397 11,955 11,787 11,456 11,130 4 11 12,177 11,314 8 
Total loans$330,859 325,055 325,408 325,557 331,892 2 — $327,973 342,428 (4)
Total deposits898,650 881,339 864,373 848,419 835,752 2 8 890,042 812,723 10 
Allocated capital48,000 48,000 48,000 48,000 48,000 — — 48,000 48,000 — 
Selected Balance Sheet Data (period-end)
Loans by Line of Business:
Consumer and Small Business Banking$10,400 11,006 11,270 13,686 16,494 (6)(37)$10,400 16,494 (37)
Consumer Lending:
Home Lending222,088 215,858 214,407 216,649 218,626 3 2 222,088 218,626 2 
Credit Card34,075 31,974 31,671 29,433 28,548 7 19 34,075 28,548 19 
Auto56,224 57,652 57,260 54,472 51,784 (2)9 56,224 51,784 9 
Personal Lending12,945 12,068 11,966 11,678 11,308 7 14 12,945 11,308 14 
Total loans$335,732 328,558 326,574 325,918 326,760 2 3 $335,732 326,760 3 
Total deposits892,373 909,896 883,674 858,424 840,434 (2)6 892,373 840,434 6 


-10-

Wells Fargo & Company and Subsidiaries
CONSUMER BANKING AND LENDING SEGMENT (continued)
Quarter endedJun 30, 2022
% Change from		Six months ended
($ in millions, unless otherwise noted)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021		Jun 30,
2022		Jun 30,
2021		%
Change
Selected Metrics
Consumer Banking and Lending:
Return on allocated capital (1)11.1 %14.4 14.8 19.7 17.3 12.7 %17.2 
Efficiency ratio (2)71 75 70 69 71 73 72 
Headcount (#) (period-end)109,200 113,273 112,913 114,334 116,185 (4)%(6)109,200 116,185 (6)%
Retail bank branches (#)4,660 4,705 4,777 4,796 4,878 (1)(4)4,660 4,878 (4)
Digital active customers (# in millions) (3)33.4 33.7 33.0 32.7 32.6 (1)2 33.4 32.6 2 
Mobile active customers (# in millions) (3)28.0 27.8 27.3 27.0 26.8 1 4 28.0 26.8 4 
Consumer and Small Business Banking:
Deposit spread (4) 1.7 %1.6 1.4 1.5 1.5 1.7 %1.6 
Debit card purchase volume ($ in billions) (5)$125.2 115.0122.4118.6122.09 3 $240.2 230.54 
Debit card purchase transactions (# in millions) (5)2,517 2,338 2,523 2,515 2,504 8 1 4,855 4,770 2 
Home Lending:
Mortgage banking:
Net servicing income $77 116 125 109 (76)(34)201 $193 (199)197 
Net gains on mortgage loan originations/sales 134 538 780 1,059 1,234 (75)(89)672 2,616 (74)
Total mortgage banking$211 654 905 1,168 1,158 (68)(82)$865 2,417 (64)
Originations ($ in billions):
Retail $19.6 24.1 32.8 35.2 36.9 (19)(47)$43.7 70.5 (38)
Correspondent 14.5 13.8 15.3 16.7 16.3 5 (11)28.3 34.5 (18)
Total originations $34.1 37.9 48.1 51.9 53.2 (10)(36)$72.0 105.0 (31)
% of originations held for sale (HFS) 46.1 %51.4 55.7 60.6 65.6 48.9 %70.7 
Third party mortgage loans serviced (period-end) ($ in billions) (6) $696.9 704.2 716.8 739.5 769.4 (1)(9)$696.9 769.4 (9)
Mortgage servicing rights (MSR) carrying value (period-end) 9,163 8,5116,9206,8626,7178 36 9,163 6,717 36 
Ratio of MSR carrying value (period-end) to third party mortgage loans serviced
(period-end) (6)
1.31 %1.21 0.97 0.93 0.87 1.31 %0.87 
Home lending loans 30+ days delinquency rate (7)(8)(9) 0.28 0.29 0.39 0.45 0.51 0.28 0.51 
Credit Card:
Point of sale (POS) volume ($ in billions)$30.1 26.027.524.623.616 28 $56.1 43.2 30 
New accounts (# in thousands)524 4845255263238 62 1,008 589 71 
Credit card loans 30+ days delinquency rate1.54 %1.58 1.52 1.46 1.53 1.54 %1.53 
Auto:
Auto originations ($ in billions)$5.4 7.39.49.28.3(26)(35)$12.7 15.3 (17)
Auto loans 30+ days delinquency rate (8)1.95 %1.68 1.84 1.46 1.30 1.95 %1.30 
Personal Lending:
New volume ($ in billions)$3.3 2.62.72.72.527 32 $5.9 4.434 
(1)Return on allocated capital is segment net income (loss) applicable to common stock divided by segment average allocated capital. Segment net income (loss) applicable to common stock is segment net income (loss) less allocated preferred stock dividends.
(2)Efficiency ratio is segment noninterest expense divided by segment total revenue (net interest income and noninterest income).
(3)Digital and mobile active customers is the number of consumer and small business customers who have logged on via a digital or mobile device, respectively, in the prior 90 days. Digital active customers includes both online and mobile customers.
(4)Deposit spread is (i) the internal funds transfer pricing credit on segment deposits minus interest paid to customers for segment deposits, divided by (ii) average segment deposits.
(5)Debit card purchase volume and transactions reflect combined activity for both consumer and business debit card purchases.
(6)Excludes residential mortgage loans subserviced for others.
(7)Excludes residential mortgage loans insured by the Federal Housing Administration (FHA) or guaranteed by the Department of Veterans Affairs (VA) and loans held for sale.
(8)Excludes nonaccrual loans.
(9)Beginning in second quarter 2020, customer payment deferral activities instituted in response to the COVID-19 pandemic may have delayed the recognition of delinquencies for those customers who would have otherwise moved into past due or nonaccrual status.


-11-

Wells Fargo & Company and Subsidiaries
COMMERCIAL BANKING SEGMENT
Quarter endedJun 30, 2022
% Change from		Six months ended
($ in millions)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021		Jun 30,
2022		Jun 30,
2021		%
Change
Income Statement
Net interest income$1,580 1,361 1,273 1,231 1,202 16 %31 $2,941 2,456 20 %
Noninterest income:
Deposit-related fees310 328 320 323 325 (5)(5)638 642 (1)
Lending-related fees122 121 129 132 135 1 (10)243 271 (10)
Lease income179 179 170 165 173 — 3 358 347 3 
Other301 338 392 225 273 (11)10 639 473 35 
Total noninterest income912 966 1,011 845 906 (6)1 1,878 1,733 8 
Total revenue2,492 2,327 2,284 2,076 2,108 7 18 4,819 4,189 15 
Net charge-offs4 (29)(7)16 53 114 (92)(25)92 NM
Change in the allowance for credit losses17 (315)(377)(351)(435)105 104 (298)(873)66 
Provision for credit losses21 (344)(384)(335)(382)106 105 (323)(781)59 
Noninterest expense1,478 1,531 1,393 1,396 1,443 (3)2 3,009 3,073 (2)
Income before income tax expense 993 1,140 1,275 1,015 1,047 (13)(5)2,133 1,897 12 
Income tax expense 249 280 318 254 261 (11)(5)529 473 12 
Less: Net income from noncontrolling interests3 3 3 2 2 — 50 6 3 100 
Net income$741 857 954 759 784 (14)(5)$1,598 1,421 12 
Revenue by Line of Business
Middle Market Banking$1,459 1,246 1,167 1,165 1,151 17 27 $2,705 2,310 17 
Asset-Based Lending and Leasing1,033 1,081 1,117 911 957 (4)8 2,114 1,879 13 
Total revenue$2,492 2,327 2,284 2,076 2,108 7 18 $4,819 4,189 15 
Revenue by Product
Lending and leasing$1,308 1,255 1,236 1,190 1,207 4 8 $2,563 2,409 6 
Treasury management and payments943 779 711 713 680 21 39 1,722 1,401 23 
Other241 293 337 173 221 (18)9 534 379 41 
Total revenue$2,492 2,327 2,284 2,076 2,108 7 18 $4,819 4,189 15 
Selected Metrics
Return on allocated capital14.3 %16.9 18.5 14.5 15.2 15.6 %13.8 
Efficiency ratio59 66 61 67 68 62 73 
Headcount (#) (period-end)17,792 17,36018,39718,63819,6472 (9)17,792 19,647(9)
NM – Not meaningful

-12-

Wells Fargo & Company and Subsidiaries
COMMERCIAL BANKING SEGMENT (continued)
Quarter endedJun 30, 2022
% Change from		Six months ended
($ in millions)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021		Jun 30,
2022		Jun 30,
2021		%
Change
Selected Balance Sheet Data (average)
Loans:
Commercial and industrial$143,833 135,792 125,011 118,039 117,585 6 %22 $139,835 119,248 17 %
Commercial real estate44,790 45,053 45,755 46,576 47,203 (1)(5)44,921 47,885 (6)
Lease financing and other13,396 13,550 13,855 14,007 13,784 (1)(3)13,472 13,712 (2)
Total loans$202,019 194,395 184,621 178,622 178,572 4 13 $198,228 180,845 10 
Loans by Line of Business:
Middle Market Banking$113,033 108,583 103,594 101,523 102,054 4 11 $110,820 103,210 7 
Asset-Based Lending and Leasing88,986 85,812 81,027 77,099 76,518 4 16 87,408 77,635 13 
Total loans $202,019 194,395 184,621 178,622 178,572 4 13 $198,228 180,845 10 
Total deposits188,286 200,699 207,678 199,226 192,586 (6)(2)194,458 190,984 2 
Allocated capital19,500 19,500 19,500 19,500 19,500 — — 19,500 19,500— 
Selected Balance Sheet Data (period-end)
Loans:
Commercial and industrial$146,656 140,932 131,078 120,203 117,782 4 25 $146,656 117,782 25 
Commercial real estate44,992 44,428 45,467 46,318 46,905 1 (4)44,992 46,905 (4)
Lease financing and other13,593 13,473 13,803 14,018 14,218 1 (4)13,593 14,218 (4)
Total loans$205,241 198,833 190,348 180,539 178,905 3 15 $205,241 178,905 15 
Loans by Line of Business:
Middle Market Banking$116,064 110,258 106,834 102,279 102,062 5 14 $116,064 102,062 14 
Asset-Based Lending and Leasing89,177 88,575 83,514 78,260 76,843 1 16 89,177 76,843 16 
Total loans$205,241 198,833 190,348 180,539 178,905 3 15 $205,241 178,905 15 
Total deposits183,145 195,549 205,428 204,853 197,461 (6)(7)183,145 197,461 (7)

-13-

Wells Fargo & Company and Subsidiaries
CORPORATE AND INVESTMENT BANKING SEGMENT
Quarter endedJun 30, 2022
% Change from		Six months ended
($ in millions)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021		Jun 30,
2022		Jun 30,
2021		%
Change
Income Statement
Net interest income$2,057 1,990 1,982 1,866 1,783 3 %15 $4,047 3,562 14 %
Noninterest income:
Deposit-related fees280 293 283 286 277 (4)1 573 543 6 
Lending-related fees195 185 192 196 190 5 3 380 373 2 
Investment banking fees307 462 678 536 580 (34)(47)769 1,191 (35)
Net gains (losses) from trading activities378 228 (174)85 30 66 NM606 361 68 
Other356 312 551 416 478 14 (26)668 912 (27)
Total noninterest income1,516 1,480 1,530 1,519 1,555 2 (3)2,996 3,380 (11)
Total revenue3,573 3,470 3,512 3,385 3,338 3 7 7,043 6,942 1 
Net charge-offs(11)(31)8 (48)(19)65 42 (42)18 NM
Change in the allowance for credit losses(51)(165)(202)(412)(482)69 89 (216)(803)73 
Provision for credit losses(62)(196)(194)(460)(501)68 88 (258)(785)67 
Noninterest expense1,840 1,983 1,765 1,797 1,805 (7)2 3,823 3,638 5 
Income before income tax expense1,795 1,683 1,941 2,048 2,034 7 (12)3,478 4,089 (15)
Income tax expense459 425 488 518 513 8 (11)884 1,013 (13)
Less: Net loss from noncontrolling interests— — (1)— (2)— 100 — (2)100 
Net income$1,336 1,258 1,454 1,530 1,523 6 (12)$2,594 3,078 (16)
Revenue by Line of Business
Banking:
Lending$528 521 519 502 474 1 11 $1,049 927 13 
Treasury Management and Payments529 432 373 372 353 22 50 961 723 33 
Investment Banking222 331 464 367 407 (33)(45)553 823 (33)
Total Banking1,279 1,284 1,356 1,241 1,234 — 4 2,563 2,473 4 
Commercial Real Estate1,060 995 1,095 942 1,014 7 5 2,055 1,926 7 
Markets:
Fixed Income, Currencies, and Commodities (FICC)934 877 794 884 888 6 5 1,811 2,032 (11)
Equities253 267 205 234 206 (5)23 520 458 14 
Credit Adjustment (CVA/DVA) and Other13 25 13 58 (16)(48)181 38 20 90 
Total Markets1,200 1,169 1,012 1,176 1,078 3 11 2,369 2,510 (6)
Other34 22 49 26 12 55 183 56 33 70 
Total revenue$3,573 3,470 3,512 3,385 3,338 3 7 $7,043 6,942 1 
Selected Metrics
Return on allocated capital13.8 %13.2 16.0 16.9 17.0 13.5 %17.3 
Efficiency ratio51 57 50 53 54 54 52 
Headcount (#) (period-end)9,000 8,4168,4898,4598,6737 4 9,000 8,6734 
NM – Not meaningful

-14-

Wells Fargo & Company and Subsidiaries
CORPORATE AND INVESTMENT BANKING SEGMENT (continued)
Quarter endedJun 30, 2022
% Change from		Six months ended
($ in millions)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021		Jun 30,
2022		Jun 30,
2021		%
Change
Selected Balance Sheet Data (average)
Loans:
Commercial and industrial$200,527 191,152 182,778 170,486 167,076 5 %20 $195,865 164,696 19 %
Commercial real estate98,167 93,346 89,216 86,809 85,346 5 15 95,770 84,606 13 
Total loans$298,694 284,498 271,994 257,295 252,422 5 18 $291,635 249,302 17 
Loans by Line of Business:
Banking$109,123 102,485 101,589 95,911 90,839 6 20 $105,822 88,699 19 
Commercial Real Estate133,212 126,248 116,630 110,683 108,893 6 22 129,749 108,255 20 
Markets56,359 55,765 53,775 50,701 52,690 1 7 56,064 52,348 7 
Total loans$298,694 284,498 271,994 257,295 252,422 5 18 $291,635 249,302 17 
Trading-related assets:
Trading account securities$110,499 115,687 118,147 112,148 104,743 (4)5 $113,079 105,546 7 
Reverse repurchase agreements/securities borrowed48,909 54,832 53,526 56,758 62,066 (11)(21)51,854 63,010 (18)
Derivative assets30,845 26,244 24,267 25,191 24,731 18 25 28,557 25,910 10 
Total trading-related assets$190,253 196,763 195,940 194,097 191,540 (3)(1)$193,490 194,466 (1)
Total assets564,306 551,404 543,946 524,124 513,414 2 10 557,891 512,476 9 
Total deposits164,860 169,181 182,101 189,424 190,810 (3)(14)167,009 192,645 (13)
Allocated capital36,000 36,000 34,000 34,000 34,000 — 6 36,000 34,000 6 
Selected Balance Sheet Data (period-end)
Loans:
Commercial and industrial$207,414 194,201 191,391 177,002 166,969 7 24 $207,414 166,969 24 
Commercial real estate100,872 96,426 92,983 86,955 86,290 5 17 100,872 86,290 17 
Total loans$308,286 290,627 284,374 263,957 253,259 6 22 $308,286 253,259 22 
Loans by Line of Business:
Banking$111,639 107,081 101,926 99,683 92,758 4 20 $111,639 92,758 20 
Commercial Real Estate137,083 129,375 125,926 112,050 108,885 6 26 137,083 108,885 26 
Markets59,564 54,171 56,522 52,224 51,616 10 15 59,564 51,616 15 
Total loans$308,286 290,627 284,374 263,957 253,259 6 22 $308,286 253,259 22 
Trading-related assets:
Trading account securities$109,634 113,763 108,697 114,187 108,291 (4)1 $109,634 108,291 1 
Reverse repurchase agreements/securities borrowed42,696 57,579 55,973 55,123 57,351 (26)(26)42,696 57,351 (26)
Derivative assets24,540 26,695 21,398 27,096 25,288 (8)(3)24,540 25,288 (3)
Total trading-related assets$176,870 198,037 186,068 196,406 190,930 (11)(7)$176,870 190,930 (7)
Total assets567,733 564,976 546,549 535,385 516,518 — 10 567,733 516,518 10 
Total deposits162,439 168,467 168,609 191,786 188,219 (4)(14)162,439 188,219 (14)

-15-

Wells Fargo & Company and Subsidiaries
WEALTH AND INVESTMENT MANAGEMENT SEGMENT
Quarter endedJun 30, 2022
% Change from		Six months ended
($ in millions, unless otherwise noted)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021		Jun 30,
2022		Jun 30,
2021		%
Change
Income Statement
Net interest income$916 799 666 637 610 15 %50 $1,715 1,267 35 %
Noninterest income:
Investment advisory and other asset-based fees 2,306 2,476 2,429 2,457 2,382 (7)(3)4,782 4,688 2 
Commissions and brokerage services fees 459 454 484 458 513 1 (11)913 1,068 (15)
Other24 28 69 66 31 (14)(23)52 57 (9)
Total noninterest income2,789 2,958 2,982 2,981 2,926 (6)(5)5,747 5,813 (1)
Total revenue3,705 3,757 3,648 3,618 3,536 (1)5 7,462 7,080 5 
Net charge-offs— (4)19 (3)(6)100 100 (4)(6)33 
Change in the allowance for credit losses(7)(33)(22)(70)30 79 NM(40)(13)NM
Provision for credit losses(7)(37)(3)(73)24 81 NM(44)(19)NM
Noninterest expense2,911 3,175 2,898 2,917 2,891 (8)1 6,086 5,919 3 
Income before income tax expense801 619 753 774 621 29 29 1,420 1,180 20 
Income tax expense198 154 189 195 156 29 27 352 296 19 
Net income$603 465 564 579 465 30 30 $1,068 884 21 
Selected Metrics
Return on allocated capital27.1 %21.0 25.0 25.7 20.7 24.1 %19.8 
Efficiency ratio79 85 79 81 82 82 84 
Headcount (#) (period-end)24,996 25,16525,90626,11226,989(1)(7)24,996 26,989(7)
Advisory assets ($ in billions)
$800 912964920931(12)(14)$800 931 (14)
Other brokerage assets and deposits ($ in billions) 1,035 1,1681,2191,1711,212(11)(15)1,035 1,212(15)
Total client assets ($ in billions)
$1,835 2,0802,1832,0912,143(12)(14)$1,835 2,143 (14)
Annualized revenue per advisor ($ in thousands) (1)
1,213 1,221 1,171 1,141 1,084 (1)12 1,217 1,071 14 
Total financial and wealth advisors (#) (period-end)
12,184 12,250 12,367 12,552 12,819 (1)(5)12,184 12,819 (5)
Selected Balance Sheet Data (average)
Total loans$85,912 84,765 84,007 82,785 81,784 1 5 $85,342 81,314 5 
Total deposits173,670 185,814 180,939 176,570 174,980 (7)(1)179,708 174,333 3 
Allocated capital8,750 8,750 8,750 8,750 8,750 — — 8,750 8,750 — 
Selected Balance Sheet Data (period-end)
Total loans85,342 84,688 84,101 82,824 82,783 1 3 85,342 82,783 3 
Total deposits165,633 183,727 192,548 177,809 174,267 (10)(5)165,633 174,267 (5)
NM – Not meaningful
(1)Represents annualized segment total revenue divided by average total financial and wealth advisors for the period.
-16-

Wells Fargo & Company and Subsidiaries
CORPORATE (1)
Quarter endedJun 30, 2022
% Change from		Six months ended
($ in millions)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021		Jun 30,
2022		Jun 30,
2021		%
Change
Income Statement
Net interest income$(619)(818)(420)(427)(304)24 %NM$(1,437)(694)NM
Noninterest income(114)806 3,540 1,752 3,327 NMNM692 4,744 (85)%
Total revenue (733)(12)3,120 1,325 3,023 NMNM(745)4,050 NM
Net charge-offs(6)(6)(5)(10)(8)— 25 (12)69 NM
Change in the allowance for credit losses21 (14)8 1 (26)250 181 7 (6)217 
Provision for credit losses15 (20)3 (9)(34)175 144 (5)63 NM
Noninterest expense618 786 1,016 1,140 1,000 (21)(38)1,404 2,231 (37)
Income (loss) before income tax expense (benefit)(1,366)(778)2,101 194 2,057 (76)NM(2,144)1,756 NM
Income tax expense (benefit)(242)(227)538 110 223 (7)NM(469)(52)NM
Less: Net income (loss) from noncontrolling interests(170)128 647 281 704 NMNM(42)757 NM
Net income (loss) $(954)(679)916 (197)1,130 (41)NM$(1,633)1,051 NM
Selected Metrics
Headcount (#) (period-end)82,68682,36383,73086,32887,702— (6)82,68687,702(6)
Selected Balance Sheet Data (average)
Cash, cash equivalents, and restricted cash$145,637 178,747 216,156 250,414 255,043 (19)(43)$162,101 239,010 (32)
Available-for-sale debt securities127,997 156,756 169,953 172,035 185,396 (18)(31)142,297 192,867 (26)
Held-to-maturity debt securities291,710 275,510 262,969 260,167 237,788 6 23 283,655 227,623 25 
Equity securities15,681 15,760 15,172 13,254 11,499 (1)36 15,720 11,203 40 
Total loans9,083 9,292 9,006 9,765 10,077 (2)(10)9,187 10,152 (10)
Total assets642,606 687,341 727,818 762,067 754,629 (7)(15)664,850 741,203 (10)
Total deposits20,327 27,039 34,936 37,302 41,696 (25)(51)23,665 44,080 (46)
Selected Balance Sheet Data (period-end)
Cash, cash equivalents, and restricted cash$123,872 175,201 209,696 241,423 248,784 (29)(50)$123,872 248,784 (50)
Available-for-sale debt securities114,469 157,164 165,926 173,237 177,923 (27)(36)114,469 177,923 (36)
Held-to-maturity debt securities298,895 277,965 269,285 261,583 260,054 8 15 298,895 260,054 15 
Equity securities15,004 16,137 16,549 14,022 13,142 (7)14 15,004 13,142 14 
Total loans9,133 9,101 9,997 9,589 10,593 — (14)9,133 10,593 (14)
Total assets611,658 682,912 721,335 751,155 761,915 (10)(20)611,658 761,915 (20)
Total deposits21,563 23,715 32,220 37,507 40,091 (9)(46)21,563 40,091 (46)
NM – Not meaningful
(1)All other business activities that are not included in the reportable operating segments have been included in Corporate. Corporate includes corporate treasury and enterprise functions, net of allocations (including funds transfer pricing, capital, liquidity and certain expenses), in support of the reportable operating segments, as well as our investment portfolio and affiliated venture capital and private equity businesses. Corporate also includes certain lines of business that management has determined are no longer consistent with the long-term strategic goals of the Company, as well as previously divested businesses.

-17-

Wells Fargo & Company and Subsidiaries
CONSOLIDATED LOANS OUTSTANDING – PERIOD-END BALANCES, AVERAGE BALANCES, AND AVERAGE INTEREST RATES
Quarter endedJun 30, 2022
$ Change from
($ in millions) Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021
Period-End Loans
Commercial and industrial$380,235 362,137 350,436 326,425 317,618 18,098 62,617 
Real estate mortgage133,411 129,495 127,733 121,985 120,678 3,916 12,733 
Real estate construction21,743 20,613 20,092 21,129 22,406 1,130 (663)
Lease financing14,530 14,469 14,859 15,398 15,720 61 (1,190)
Total commercial549,919 526,714 513,120 484,937 476,422 23,205 73,497 
Residential mortgage – first lien252,941 245,242 242,270 242,935 244,371 7,699 8,570 
Residential mortgage – junior lien14,604 15,392 16,618 18,026 19,637 (788)(5,033)
Credit card41,222 38,639 38,453 36,061 34,936 2,583 6,286 
Auto55,658 57,083 56,659 53,827 51,073 (1,425)4,585 
Other consumer29,390 28,737 28,274 27,041 25,861 653 3,529 
Total consumer393,815 385,093 382,274 377,890 375,878 8,722 17,937 
Total loans$943,734 911,807 895,394 862,827 852,300 31,927 91,434 
Average Loans
Commercial and industrial$370,615 353,829 335,752 319,426 318,917 16,786 51,698 
Real estate mortgage131,128 127,464 123,806 121,453 120,526 3,664 10,602 
Real estate construction21,328 20,259 20,800 21,794 22,015 1,069 (687)
Lease financing14,445 14,586 15,227 15,492 15,565 (141)(1,120)
Total commercial537,516 516,138 495,585 478,165 477,023 21,378 60,493 
Residential mortgage – first lien248,879 242,883 242,515 243,201 247,815 5,996 1,064 
Residential mortgage – junior lien14,998 16,017 17,317 18,809 20,457 (1,019)(5,459)
Credit card39,614 38,164 37,041 35,407 34,211 1,450 5,403 
Auto56,262 56,701 55,161 52,370 50,014 (439)6,248 
Other consumer29,298 28,102 27,417 26,072 25,227 1,196 4,071 
Total consumer389,051 381,867 379,451 375,859 377,724 7,184 11,327 
Total loans$926,567 898,005 875,036 854,024 854,747 28,562 71,820 
Average Interest Rates
Commercial and industrial2.92 %2.41 2.45 2.44 2.52 
Real estate mortgage3.00 2.65 2.64 2.67 2.74 
Real estate construction3.59 3.31 3.08 3.10 3.08 
Lease financing4.24 4.24 4.27 4.45 4.49 
Total commercial3.00 2.56 2.58 2.60 2.66 
Residential mortgage – first lien3.12 3.14 3.27 3.12 3.16 
Residential mortgage – junior lien4.48 4.17 4.22 4.11 4.13 
Credit card11.13 11.32 11.25 11.47 11.48 
Auto4.18 4.17 4.37 4.44 4.52 
Other consumer4.26 3.69 3.67 3.70 3.70 
Total consumer4.23 4.20 4.28 4.18 4.18 
Total loans3.52 %3.25 3.32 3.29 3.33 

-18-

Wells Fargo & Company and Subsidiaries
NET LOAN CHARGE-OFFS
Quarter ended
Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 30, 2021Jun 30, 2021Jun 30, 2022
$ Change from
($ in millions)Net loan 
charge-offs		As a % of average loans (1)Net loan 
charge-offs		As a % of average loans (1)Net loan 
charge-offs		As a % of average loans (1)Net loan 
charge-offs		As a % of average loans (1)Net loan 
charge-offs		As a % of average loans (1)Mar 31,
2022		Jun 30,
2021
By product:
Commercial:
Commercial and industrial$27 0.03 %$(23)(0.03)%$3 — %$46 0.06 %$81 0.10 %$50 (54)
Real estate mortgage(4)(0.01)(5)(0.02)22 0.07 (10)(0.03)(5)(0.02)1 1 
Real estate construction— — — — — — 1 — (1)— — 1 
Lease financing— (0.02)(1)(0.02)3 0.09 1 0.03 5 0.12 1 (5)
Total commercial23 0.02 (29)(0.02)28 0.02 38 0.03 80 0.07 52 (57)
Consumer:
Residential mortgage – first lien(3)(0.01)(3)— 110 0.18 (14)(0.02)(19)(0.03)— 16 
Residential mortgage – junior lien(13)(0.36)(18)(0.46)8 0.19 (28)(0.61)(31)(0.60)5 18 
Credit card199 2.02 176 1.87 150 1.61 158 1.77 256 3.01 23 (57)
Auto68 0.49 96 0.68 58 0.41 26 0.20 45 0.35 (28)23 
Other consumer70 0.98 83 1.20 67 0.96 79 1.22 50 0.80 (13)20 
Total consumer321 0.33 334 0.35 393 0.41 221 0.23 301 0.32 (13)20 
Total net charge-offs$344 0.15 %$305 0.14 %$421 0.19 %$259 0.12 %$381 0.18 %$39 (37)
By segment:
Consumer Banking and Lending$358 0.43 %$375 0.47 %$410 0.50 %$302 0.37 %$359 0.43 %$(17)(1)
Commercial Banking3 0.01 (29)(0.06)(9)(0.02)16 0.04 50 0.11 32 (47)
Corporate and Investing Banking(11)(0.01)(31)(0.04)8 0.01 (48)(0.07)(18)(0.03)20 7 
Wealth and Investment Management— — (4)(0.02)18 0.09 (3)(0.01)(3)(0.01)4 3 
Corporate(6)(0.26)(6)(0.26)(6)(0.26)(8)(0.33)(7)(0.28)— 1 
Total net charge-offs$344 0.15 %$305 0.14 %$421 0.19 %$259 0.12 %$381 0.18 %$39 (37)
(1)Quarterly net charge-offs (recoveries) as a percentage of average loans are annualized.
-19-

Wells Fargo & Company and Subsidiaries
CHANGES IN ALLOWANCE FOR CREDIT LOSSES FOR LOANS
Quarter endedJun 30, 2022
$ Change from
($ in millions)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021
Balance, beginning of period$12,681 13,788 14,705 16,391 18,043 (1,107)(5,362)
Provision for credit losses578 (775)(464)(1,387)(1,239)1,353 1,817 
Interest income on certain loans (1)(27)(29)(33)(35)(36)2 9 
Net loan charge-offs:
Commercial:
Commercial and industrial(27)23 (3)(46)(81)(50)54 
Real estate mortgage4 5 (22)10 5 (1)(1)
Real estate construction— — — (1)1 — (1)
Lease financing— 1 (3)(1)(5)(1)5 
Total commercial(23)29 (28)(38)(80)(52)57 
Consumer:
Residential mortgage – first lien3 3 (110)14 19 — (16)
Residential mortgage – junior lien13 18 (8)28 31 (5)(18)
Credit card(199)(176)(150)(158)(256)(23)57 
Auto(68)(96)(58)(26)(45)28 (23)
Other consumer(70)(83)(67)(79)(50)13 (20)
Total consumer(321)(334)(393)(221)(301)13 (20)
Net loan charge-offs(344)(305)(421)(259)(381)(39)37 
Other(4)2 1 (5)4 (6)(8)
Balance, end of period$12,884 12,681 13,788 14,705 16,391 203 (3,507)
Components:
Allowance for loan losses$11,786 11,504 12,490 13,517 15,148 282 (3,362)
Allowance for unfunded credit commitments1,098 1,177 1,298 1,188 1,243 (79)(145)
Allowance for credit losses for loans$12,884 12,681 13,788 14,705 16,391 203 (3,507)
Ratio of allowance for loan losses to total net loan charge-offs (annualized) 8.54x9.317.4913.149.93
Allowance for loan losses as a percentage of:
Total loans1.25 %1.26 1.39 1.57 1.78 
Nonaccrual loans197 167 173 192 205 
Allowance for credit losses for loans as a percentage of:
Total loans1.37 1.39 1.54 1.70 1.92 
Nonaccrual loans215 185 191 208 222 
(1)Loans with an allowance for credit losses measured by discounting expected cash flows using the loan’s effective interest rate over the remaining life of the loan recognize changes in the allowance for credit losses attributable to the passage of time as interest income.
-20-

Wells Fargo & Company and Subsidiaries
ALLOCATION OF ALLOWANCE FOR CREDIT LOSSES FOR LOANS
Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 30, 2021Jun 30, 2021
($ in millions)ACLACL
as %
of loan
class		ACLACL
as %
of loan
class		ACLACL
as %
of loan
class		ACLACL
as %
of loan
class		ACLACL
as %
of loan
class
By product:
Commercial:
Commercial and industrial
$4,620 1.22 %$4,625 1.28 %$4,873 1.39 %$5,193 1.59 %$5,640 1.78 %
Real estate mortgage
1,810 1.36 1,883 1.45 2,085 1.63 2,422 1.99 2,884 2.39 
Real estate construction
378 1.74 366 1.78 431 2.15 470 2.22 530 2.37 
Lease financing
274 1.89 274 1.89 402 2.71 480 3.12 516 3.28 
Total commercial
7,082 1.29 7,148 1.36 7,791 1.52 8,565 1.77 9,570 2.01 
Consumer:
Residential mortgage – first lien (1)1,024 0.40 927 0.38 1,156 0.48 1,197 0.49 1,283 0.53 
Residential mortgage – junior lien (1)(6)(0.04)2 0.01 130 0.78 201 1.12 320 1.63 
Credit card3,253 7.89 3,094 8.01 3,290 8.56 3,356 9.31 3,663 10.48 
Auto1,045 1.88 1,030 1.80 928 1.64 901 1.67 1,026 2.01 
Other consumer486 1.65 480 1.67 493 1.74 485 1.79 529 2.05 
Total consumer
5,802 1.47 5,533 1.44 5,997 1.57 6,140 1.62 6,821 1.81 
Total allowance for credit losses for loans$12,884 1.37 %$12,681 1.39 %$13,788 1.54 %$14,705 1.70 %$16,391 1.92 %
By segment:
Consumer Banking and Lending$6,540 1.95 %$6,305 1.92 %$6,891 2.11 %$7,194 2.21 %$8,035 2.46 %
Commercial Banking2,644 1.29 2,631 1.32 2,950 1.55 3,334 1.85 3,692 2.06 
Corporate and Investing Banking3,480 1.13 3,532 1.22 3,705 1.30 3,900 1.48 4,318 1.70 
Wealth and Investment Management231 0.27 238 0.28 271 0.32 292 0.35 362 0.44 
Corporate(11)(0.12)(25)(0.27)(29)(0.29)(15)(0.16)(16)(0.15)
Total allowance for credit losses for loans$12,884 1.37 %$12,681 1.39 %$13,788 1.54 %$14,705 1.70 %$16,391 1.92 %
(1)Includes negative allowance for expected recoveries of amounts previously charged off.

-21-

Wells Fargo & Company and Subsidiaries
NONPERFORMING ASSETS (NONACCRUAL LOANS AND FORECLOSED ASSETS)
Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 30, 2021Jun 30, 2021Jun 30, 2022
$ Change from
($ in millions)Balance% of
total
loans		Balance% of
total
loans		Balance% of
total
loans		Balance% of
total
loans		Balance% of
total
loans		Mar 31,
2022		Jun 30,
2021
By product:
Nonaccrual loans:
Commercial:
Commercial and industrial$722 0.19 %$799 0.22 %$980 0.28 %$1,274 0.39 %$1,691 0.53 %$(77)(969)
Real estate mortgage898 0.67 1,033 0.80 1,235 0.97 1,538 1.26 1,598 1.32 (135)(700)
Real estate construction3 0.01 4 0.02 13 0.06 20 0.09 45 0.20 (1)(42)
Lease financing96 0.66 117 0.81 148 1.00 188 1.22 215 1.37 (21)(119)
Total commercial1,719 0.31 1,953 0.37 2,376 0.46 3,020 0.62 3,549 0.74 (234)(1,830)
Consumer:
Residential mortgage – first lien (1)3,322 1.31 3,873 1.58 3,803 1.57 3,093 1.27 2,852 1.17 (551)470 
Residential mortgage – junior lien (1)729 4.99 802 5.21 801 4.82 702 3.89 713 3.63 (73)16 
Auto188 0.34 208 0.36 198 0.35 206 0.38 221 0.43 (20)(33)
Other consumer35 0.12 35 0.12 34 0.12 37 0.14 36 0.14 — (1)
Total consumer4,274 1.09 4,918 1.28 4,836 1.27 4,038 1.07 3,822 1.02 (644)452 
Total nonaccrual loans5,993 0.64 6,871 0.75 7,212 0.81 7,058 0.82 7,371 0.86 (878)(1,378)
Foreclosed assets130 130 112 121 129 — 1 
Total nonperforming assets$6,123 0.65 %$7,001 0.77 %$7,324 0.82 %$7,179 0.83 %$7,500 0.88 %$(878)(1,377)
By segment:
Consumer Banking and Lending$4,179 1.24 %$4,754 1.45 %$4,672 1.43 %$3,955 1.21 %$3,730 1.14 %$(575)449 
Commercial Banking1,065 0.52 1,242 0.62 1,520 0.80 1,827 1.01 2,096 1.17 (177)(1,031)
Corporate and Investing Banking646 0.21 706 0.24 778 0.27 1,073 0.41 1,310 0.52 (60)(664)
Wealth and Investment Management233 0.27 299 0.35 354 0.42 324 0.39 364 0.44 (66)(131)
Corporate— — — — — — — — — — — — 
Total nonperforming assets$6,123 0.65 %$7,001 0.77 %$7,324 0.82 %$7,179 0.83 %$7,500 0.88 %$(878)(1,377)
(1)Residential mortgage loans predominantly insured by the FHA or guaranteed by the VA are not placed on nonaccrual status because they are insured or guaranteed.

-22-

Wells Fargo & Company and Subsidiaries
COMMERCIAL AND INDUSTRIAL LOANS AND LEASE FINANCING BY INDUSTRY
Jun 30, 2022Mar 31, 2022Jun 30, 2021
($ in millions)Nonaccrual
loans		Loans outstanding balance% of
total
loans		Total commitments (1)Nonaccrual
loans		Loans outstanding balance% of
total
loans		Total commitments (1)Nonaccrual
loans		Loans outstanding balance% of
total
loans		Total commitments (1)
Financials except banks$56 146,264 16 %$245,199 $59 140,267 15 %$243,327 $154 124,759 15 %$214,618 
Technology, telecom and media70 27,701 369,050 63 24,382 361,361 65 20,669 258,791 
Real estate and construction67 26,154 358,281 72 24,961 355,720 136 22,488 353,516 
Equipment, machinery and parts manufacturing19 21,669 246,111 17 19,763 244,596 41 16,833 240,112 
Retail19 18,994 241,335 21 17,529 240,551 44 16,726 239,646 
Materials and commodities25 16,793 238,571 28 16,141 238,443 19 13,033 235,185 
Food and beverage manufacturing6 15,522 233,816 6 14,935 231,771 9 11,955 129,441 
Oil, gas and pipelines84 9,878 131,043 85 8,447 *29,592 486 9,186 128,753 
Health care and pharmaceuticals20 13,936 129,624 25 13,279 129,597 26 13,484 229,037 
Auto related11 11,905 127,291 22 10,762 126,020 63 9,873 125,024 
Utilities77 9,060 *25,579 78 8,303 *24,408 67 7,136 *21,596 
Commercial services38 10,954 124,824 69 10,632 125,104 76 10,018 123,785 
Banks— 19,775 220,836 — 18,336 218,823 — 14,839 215,289 
Diversified or miscellaneous10 8,661 *20,714 21 8,233 *18,936 27 6,309 *16,078 
Entertainment and recreation39 11,562 119,073 43 11,438 119,381 68 7,612 *15,493 
Transportation services213 8,583 *15,725 246 8,116 *15,126 492 8,566 116,814 
Insurance and fiduciaries1 5,104 *15,688 1 4,366 *15,304 1 4,371 *16,340 
Government and education16 6,096 *12,225 4 5,717 *11,073 4 5,033 *10,634 
Agribusiness26 6,070 *11,631 32 6,058 *11,514 57 5,402 *11,161 
Other21 84 *7,365 24 4,941 *12,392 71 5,046 *12,511 
Total
$818 394,765 42 %$793,981 $916 376,606 41 %$773,039 $1,906 333,338 39 %$713,824 
*Less than 1%.
(1)Total commitments consists of loans outstanding plus unfunded credit commitments, excluding issued letters of credit. In second quarter 2022, we reclassified commitments for commercial securities-based loans originated by the Wealth and Investment Management operating segment to consumer loan commitments. Prior period balances have been revised to conform with the current period presentation.
-23-

Wells Fargo & Company and Subsidiaries
COMMERCIAL REAL ESTATE LOANS BY PROPERTY TYPE
Jun 30, 2022Mar 31, 2022Jun 30, 2021
($ in millions)Nonaccrual
loans		Loans outstanding balance% of
total
loans		Total commitments (1)Nonaccrual
loans		Loans outstanding balance% of
total
loans		Total commitments (1)Nonaccrual
loans		Loans outstanding balance% of
total
loans		Total commitments (1)
Apartments$10 37,707 4 %$49,748 13 33,501 4 %$44,686 27 28,853 3 %$36,462 
Office buildings109 36,161 441,546 130 36,551 4 42,169 148 36,271 4 42,072 
Industrial/warehouse57 18,501 222,354 70 17,929 2 21,092 90 17,077 2 19,948 
Hotel/motel186 13,378 114,110 200 12,439 1 12,940 361 12,271 1 12,706 
Retail (excluding shopping center)105 11,970 112,744 117 12,308 1 12,982 233 13,233 2 13,947 
Shopping center283 10,167 110,781 342 10,295 1 10,938 509 10,913 1 11,581 
Institutional37 7,739 *9,229 39 7,886 *9,519 74 6,908 *8,213 
Mixed use properties61 7,517 *8,974 71 7,503 *9,051 98 6,244 *7,280 
Collateral pool— 3,389 *3,904 — 3,603 *4,193 — 3,138 *3,770 
Storage facility— 2,825 *3,044 — 2,529 *3,025 — 1,907 *2,572 
Other53 5,800 *9,248 55 5,564 *8,401 103 6,269 *9,587 
Total
$901 155,154 16 %$185,682 1,037 150,108 16 %$178,996 1,643 143,084 17 %$168,138 
*Less than 1%.
(1)Total commitments consists of loans outstanding plus unfunded credit commitments, excluding issued letters of credit.
-24-

Wells Fargo & Company and Subsidiaries
TANGIBLE COMMON EQUITY

We also evaluate our business based on certain ratios that utilize tangible common equity. Tangible common equity is a non-GAAP financial measure and represents total equity less preferred equity, noncontrolling interests, goodwill, certain identifiable intangible assets (other than MSRs) and goodwill and other intangibles on investments in consolidated portfolio companies, net of applicable deferred taxes. The ratios are (i) tangible book value per common share, which represents tangible common equity divided by common shares outstanding; and (ii) return on average tangible common equity (ROTCE), which represents our annualized earnings as a percentage of tangible common equity. The methodology of determining tangible common equity may differ among companies. Management believes that tangible book value per common share and return on average tangible common equity, which utilize tangible common equity, are useful financial measures because they enable management, investors, and others to assess the Company’s use of equity.

The tables below provide a reconciliation of these non-GAAP financial measures to GAAP financial measures.
Jun 30, 2022
% Change from
(in millions, except ratios)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021
Tangible book value per common share:
Total equity$179,793 181,689 190,110 191,071 193,127 (1)%(7)
Adjustments:
Preferred stock(20,057)(20,057)(20,057)(20,270)(20,820)— 4 
Additional paid-in capital on preferred stock135 136 136 120 136 (1)(1)
Unearned ESOP shares646 646 646 875 875 — (26)
Noncontrolling interests(2,261)(2,446)(2,504)(2,043)(1,865)8 (21)
Total common stockholders' equity(A)158,256 159,968 168,331 169,753 171,453 (1)(8)
Adjustments:
Goodwill(25,178)(25,181)(25,180)(26,191)(26,194)— 4 
Certain identifiable intangible assets (other than MSRs)(191)(210)(225)(281)(301)9 37 
Goodwill and other intangibles on investments in consolidated portfolio companies (included in
other assets)
(2,307)(2,304)(2,437)(2,120)(2,256)— (2)
Applicable deferred taxes related to goodwill and other intangible assets (1)880 871 765 886 875 1 1 
Tangible common equity(B)$131,460 133,144 141,254 142,047 143,577 (1)(8)
Common shares outstanding(C)3,793.0 3,789.9 3,885.8 3,996.9 4,108.0 — (8)
Book value per common share(A)/(C)$41.72 42.21 43.32 42.47 41.74 (1)— 
Tangible book value per common share(B)/(C)34.66 35.13 36.35 35.54 34.95 (1)(1)

-25-

Wells Fargo & Company and Subsidiaries
TANGIBLE COMMON EQUITY (continued)
Quarter endedJun 30, 2022
% Change from		Six months ended
(in millions, except ratios)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021		Jun 30,
2022		Jun 30,
2021		%
Change
Return on average tangible common equity:
Net income applicable to common stock(A)$2,839 3,393 5,470 4,787 5,743 (16)%(51)$6,232 9,999 (38)%
Average total equity181,016 186,337 190,744 194,041 190,968 (3)(5)183,662 190,026 (3)
Adjustments:
Preferred stock(20,057)(20,057)(20,267)(21,403)(21,108)— 5 (20,057)(21,472)(7)
Additional paid-in capital on preferred stock135 134 120 145 138 1 (2)135 142 (5)
Unearned ESOP shares646 646 872 875 875 — (26)646 875 (26)
Noncontrolling interests(2,386)(2,468)(2,119)(1,845)(1,313)3 (82)(2,427)(1,215)100 
Average common stockholders’ equity(B)159,354 164,592 169,350 171,813 169,560 (3)(6)161,959 168,356 (4)
Adjustments:
Goodwill(25,179)(25,180)(25,569)(26,192)(26,213)— 4 (25,180)(26,297)(4)
Certain identifiable intangible assets (other than MSRs)
(200)(218)(246)(290)(310)8 35 (209)(320)(35)
Goodwill and other intangibles on investments in consolidated portfolio companies (included in other assets)(2,304)(2,395)(2,309)(2,169)(2,208)4 (4)(2,349)(2,212)6 
Applicable deferred taxes related to goodwill and other intangible assets (1)877 803 848 882 873 9 — 840 868 (3)
Average tangible common equity(C)$132,548 137,602 142,074 144,044 141,702 (4)(6)$135,061 140,395 (4)
Return on average common stockholders’ equity (ROE) (annualized)(A)/(B)7.1 %8.4 12.8 11.1 13.6 7.8 %12.0 
Return on average tangible common equity (ROTCE) (annualized)(A)/(C)8.6 10.0 15.3 13.2 16.3 9.3 14.4 
(1)Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period end.
-26-

Wells Fargo & Company and Subsidiaries
RISK-BASED CAPITAL RATIOS UNDER BASEL III – STANDARDIZED APPROACH (1)
EstimatedJun 30, 2022
% Change from
($ in billions)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021
Total equity$179.8 181.7 190.1 191.1 193.1 (1)%(7)
Adjustments:
Preferred stock(20.1)(20.1)(20.1)(20.3)(20.8)— 4 
Additional paid-in capital on preferred stock0.2 0.1 0.1 0.1 0.2 73 — 
Unearned ESOP shares0.7 0.7 0.7 0.9 0.9 — (15)
Noncontrolling interests(2.3)(2.4)(2.5)(2.0)(1.9)8 (21)
Total common stockholders' equity158.3 160.0 168.3 169.8 171.5 (1)(8)
Adjustments:
Goodwill(25.2)(25.2)(25.2)(26.2)(26.2)— 4 
Certain identifiable intangible assets (other than MSRs)(0.2)(0.2)(0.2)(0.3)(0.3)9 37 
Goodwill and other intangibles on investments in consolidated portfolio companies (included in other assets)(2.3)(2.3)(2.4)(2.1)(2.3)— (2)
Applicable deferred taxes related to goodwill and other intangible assets (2)0.9 0.9 0.8 0.9 0.9 1 1 
Current expected credit loss (CECL) transition provision (3)0.2 0.2 0.2 0.5 0.9 1 (80)
Other(1.6)(1.1)(0.9)(1.0)(1.1)(39)(41)
Common Equity Tier 1(A)130.1 132.3 140.6 141.6 143.4 (2)(9)
Preferred stock20.1 20.1 20.1 20.3 20.8 — (4)
Additional paid-in capital on preferred stock(0.2)(0.1)(0.2)(0.1)(0.2)(100)— 
Unearned ESOP shares(0.7)(0.7)(0.6)(0.9)(0.9)— 15 
Other(0.2)(0.3)(0.2)(0.3)(0.1)31 NM
Total Tier 1 capital(B)149.1 151.3 159.7 160.6 163.0 (1)(9)
Long-term debt and other instruments qualifying as Tier 221.6 22.3 22.7 22.8 23.2 (3)(7)
Qualifying allowance for credit losses (4)13.2 13.0 14.1 14.6 14.3 2 (7)
Other(0.3)(0.3)(0.2)(0.4)(0.5)(14)31 
Total qualifying capital(C)$183.6 186.3 196.3 197.6 200.1 (1)(8)
Total risk-weighted assets (RWAs)(D)$1,257.1 1,265.5 1,239.0 1,218.9 1,188.7 (1)6 
Common Equity Tier 1 to total RWAs(A)/(D)10.3 %10.5 11.4 11.6 12.1 
Tier 1 capital to total RWAs(B)/(D)11.9 12.0 12.9 13.2 13.7 
Total capital to total RWAs(C)/(D)14.6 14.7 15.8 16.2 16.8 
NM – Not meaningful
(1)The Basel III capital rules provide for two capital frameworks (the Standardized Approach and the Advanced Approach applicable to certain institutions), and we must calculate our CET1, tier 1 and total capital ratios under both approaches.
(2)Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period end.
(3)In second quarter 2020, the Company elected to apply a modified transition provision issued by federal banking regulators related to the impact of CECL on regulatory capital. The rule permits certain banking organizations to exclude from regulatory capital the initial adoption impact of CECL, plus 25% of the cumulative changes in the allowance for credit losses (ACL) under CECL for each period until December 31, 2021, followed by a three-year phase-out period in which the benefit is reduced by 25% in year one, 50% in year two and 75% in year three.
(4)Under the Standardized Approach, the allowance for credit losses is includable in Tier 2 Capital up to 1.25% of Standardized credit RWAs with any excess allowance for credit losses deducted from total RWAs.

-27-

Wells Fargo & Company and Subsidiaries
RISK-BASED CAPITAL RATIOS UNDER BASEL III – ADVANCED APPROACH (1)
EstimatedJun 30, 2022
% Change from
($ in billions)Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2022		Jun 30,
2021
Total equity$179.8 181.7 190.1 191.1 193.1 (1)%(7)
Adjustments:
Preferred stock(20.1)(20.1)(20.1)(20.3)(20.8)— 4 
Additional paid-in capital on preferred stock0.2 0.1 0.2 0.1 0.2 73 — 
Unearned ESOP shares0.7 0.7 0.6 0.9 0.9 — (15)
Noncontrolling interests(2.3)(2.4)(2.5)(2.0)(1.9)8 (21)
Total common stockholders' equity158.3 160.0 168.3 169.8 171.5 (1)(8)
Adjustments:
Goodwill(25.2)(25.2)(25.2)(26.2)(26.2)— 4 
Certain identifiable intangible assets (other than MSRs)(0.2)(0.2)(0.2)(0.3)(0.3)9 37 
Goodwill and other intangibles on investments in consolidated portfolio companies (included in other assets)(2.3)(2.3)(2.4)(2.1)(2.3)— (2)
Applicable deferred taxes related to goodwill and other intangible assets (2)0.9 0.9 0.8 0.9 0.9 1 1 
CECL transition provision (3)0.2 0.2 0.2 0.5 0.9 1 (80)
Other(1.6)(1.1)(0.9)(1.0)(1.1)(39)(41)
Common Equity Tier 1(A)130.1 132.3 140.6 141.6 143.4 (2)(9)
Preferred stock20.1 20.1 20.1 20.3 20.8 — (4)
Additional paid-in capital on preferred stock(0.2)(0.1)(0.2)(0.1)(0.2)(100)— 
Unearned ESOP shares(0.7)(0.7)(0.6)(0.9)(0.9)(7)15 
Other(0.2)(0.3)(0.2)(0.3)(0.1)31 NM
Total Tier 1 capital(B)149.1 151.3 159.7 160.6 163.0 (1)(9)
Long-term debt and other instruments qualifying as Tier 221.6 22.3 22.7 22.8 23.2 (3)(7)
Qualifying allowance for credit losses (4)4.4 4.4 4.4 4.4 4.3 — 3 
Other(0.3)(0.3)(0.2)(0.4)(0.4)(14)12 
Total qualifying capital(C)$174.8 177.7 186.6 187.4 190.1 (2)(8)
Total RWAs(D)$1,123.2 1,119.5 1,116.1 1,138.6 1,126.5 — — 
Common Equity Tier 1 to total RWAs(A)/(D)11.6 %11.8 12.6 12.4 12.7 
Tier 1 capital to total RWAs(B)/(D)13.3 13.5 14.3 14.1 14.5 
Total capital to total RWAs(C)/(D)15.6 15.9 16.7 16.5 16.9 
NM – Not meaningful
(1)The Basel III capital rules provide for two capital frameworks (the Standardized Approach and the Advanced Approach applicable to certain institutions), and we must calculate our CET1, tier 1 and total capital ratios under both approaches.
(2)Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period end.
(3)In second quarter 2020, the Company elected to apply a modified transition provision issued by federal banking regulators related to the impact of CECL on regulatory capital. The rule permits certain banking organizations to exclude from regulatory capital the initial adoption impact of CECL, plus 25% of the cumulative changes in the allowance for credit losses (ACL) under CECL for each period until December 31, 2021, followed by a three-year phase-out period in which the benefit is reduced by 25% in year one, 50% in year two and 75% in year three.
(4)Under the Advanced Approach, the allowance for credit losses that exceeds expected credit losses is eligible for inclusion in Tier 2 Capital, to the extent the excess allowance does not exceed 0.60% of Advanced credit RWAs with any excess allowance for credit losses deducted from total RWAs.
-28-