EX-99.2 3 wfc3qer10-14x22ex992xsuppl.htm EX-99.2 Document
Exhibit 99.2                                                                        
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3Q22 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 September 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 endedSep 30, 2022
% Change from		Nine months ended
(in millions, except per share amounts)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021		Sep 30,
2022		Sep 30,
2021		%
Change
Selected Income Statement Data
Total revenue$19,505 17,028 17,592 20,856 18,834 15 %4 $54,125 57,636 (6)%
Noninterest expense14,327 12,883 13,870 13,198 13,303 11 8 41,080 40,633 1 
Pre-tax pre-provision profit (PTPP) (1)5,178 4,145 3,722 7,658 5,531 25 (6)13,045 17,003 (23)
Provision for credit losses784 580 (787)(452)(1,395)35 156 577 (3,703)NM
Wells Fargo net income3,528 3,119 3,671 5,750 5,122 13 (31)10,318 15,798 (35)
Wells Fargo net income applicable to common stock3,250 2,839 3,393 5,470 4,787 14 (32)9,482 14,786 (36)
Common Share Data
Diluted earnings per common share0.85 0.74 0.88 1.38 1.17 15 (27)2.47 3.57 (31)
Dividends declared per common share0.30 0.25 0.25 0.20 0.20 20 50 0.80 0.40 100 
Common shares outstanding3,795.4 3,793.0 3,789.9 3,885.8 3,996.9 — (5)
Average common shares outstanding3,796.5 3,793.8 3,831.1 3,927.6 4,056.3 — (6)3,807.0 4,107.1 (7)
Diluted average common shares outstanding3,825.1 3,819.6 3,868.9 3,964.7 4,090.4 — (6)3,838.5 4,140.0 (7)
Book value per common share (2)$41.34 41.72 42.21 43.32 42.47 (1)(3)
Tangible book value per common share (2)(3) 34.27 34.66 35.13 36.35 35.54 (1)(4)
Selected Equity Data (period-end)
Total equity178,409 179,793 181,689 190,110 191,071 (1)(7)
Common stockholders' equity156,914 158,256 159,968 168,331 169,753 (1)(8)
Tangible common equity (3) 130,082 131,460 133,144 141,254 142,047 (1)(8)
Performance Ratios
Return on average assets (ROA) (4)0.74 %0.66 0.78 1.17 1.04 0.73 %1.09 
Return on average equity (ROE) (5)8.0 7.1 8.4 12.8 11.1 7.8 11.7 
Return on average tangible common equity (ROTCE) (3) 9.6 8.6 10.0 15.3 13.2 9.4 14.0 
Efficiency ratio (6)73 76 79 63 71 76 70 
Net interest margin on a taxable-equivalent basis2.83 2.39 2.16 2.11 2.03 2.46 2.03 
NM – Not meaningful
(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 endedSep 30, 2022
% Change from		Nine months ended
($ in millions, unless otherwise noted)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021		Sep 30,
2022		Sep 30,
2021		%
Change
Selected Balance Sheet Data (average)
Loans$945,465 926,567 898,005 875,036 854,024 2 %11 $923,520 860,666 7 %
Assets1,880,690 1,902,571 1,919,392 1,943,430 1,949,700 (1)(4)1,900,743 1,941,391 (2)
Deposits1,407,851 1,445,793 1,464,072 1,470,027 1,450,941 (3)(3)1,439,033 1,426,956 1 
Selected Balance Sheet Data (period-end)
Debt securities502,035 516,772 535,916 537,531 542,993 (3)(8)
Loans945,906 943,734 911,807 895,394 862,827 — 10 
Allowance for credit losses for loans13,225 12,884 12,681 13,788 14,705 3 (10)
Equity securities59,560 61,774 70,755 72,886 66,526 (4)(10)
Assets1,877,745 1,881,142 1,939,709 1,948,068 1,954,901 — (4)
Deposits1,398,151 1,425,153 1,481,354 1,482,479 1,470,379 (2)(5)
Headcount (#) (period-end)239,209 243,674 246,577 249,435 253,871 (2)(6)
Capital and other metrics (1)
Risk-based capital ratios and components (2):
Standardized Approach:
Common Equity Tier 1 (CET1)10.3 %10.4 10.5 11.4 11.6 
Tier 1 capital11.8 11.9 12.0 12.9 13.2 
Total capital14.5 14.6 14.7 15.8 16.2 
Risk-weighted assets (RWAs) (in billions)$1,257.4 1,253.6 1,265.5 1,239.0 1,218.9 — 3 
Advanced Approach:
Common Equity Tier 1 (CET1)11.7 %11.6 11.8 12.6 12.4 
Tier 1 capital13.5 13.3 13.5 14.3 14.1 
Total capital15.7 15.6 15.9 16.7 16.5 
Risk-weighted assets (RWAs) (in billions)$1,104.9 1,121.6 1,119.5 1,116.1 1,138.6 (1)(3)
Tier 1 leverage ratio8.0 %8.0 8.0 8.3 8.4 
Supplementary Leverage Ratio (SLR)
6.7 6.6 6.6 6.9 6.9 
Total Loss Absorbing Capacity (TLAC) Ratio (3)
23.0 22.7 22.3 23.0 23.7 
Liquidity Coverage Ratio (LCR) (4)
123 121 119 118 119 
(1)Ratios and metrics for September 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 endedSep 30, 2022
% Change from		Nine months ended
(in millions, except per share amounts)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021		Sep 30,
2022		Sep 30,
2021		%
Change
Interest income$14,494 11,556 10,181 10,121 9,834 25 %47 $36,231 29,573 23 %
Interest expense2,396 1,358 960 859 925 76 159 4,714 3,056 54 
Net interest income12,098 10,198 9,221 9,262 8,909 19 36 31,517 26,517 19 
Noninterest income
Deposit-related fees1,289 1,376 1,473 1,462 1,416 (6)(9)4,138 4,013 3 
Lending-related fees358 353 342 357 365 1 (2)1,053 1,088 (3)
Investment advisory and other asset-based fees2,111 2,346 2,498 2,579 2,882 (10)(27)6,955 8,432 (18)
Commissions and brokerage services fees562 542 537 558 525 4 7 1,641 1,741 (6)
Investment banking fees375 286 447 669 547 31 (31)1,108 1,685 (34)
Card fees1,119 1,112 1,029 1,071 1,078 1 4 3,260 3,104 5 
Mortgage banking324 287 693 1,035 1,259 13 (74)1,304 3,921 (67)
Net gains (losses) from trading activities900 446 218 (177)92 102 878 1,564 461 239 
Net gains from debt securities6 143 2 119 283 (96)(98)151 434 (65)
Net gains (losses) from equity securities(34)(615)576 2,470 869 94 NM(73)3,957 NM
Lease income322 333 327 46 322 (3)— 982 950 3 
Other75 221 229 1,405 287 (66)(74)525 1,333 (61)
Total noninterest income7,407 6,830 8,371 11,594 9,925 8 (25)22,608 31,119 (27)
Total revenue19,505 17,028 17,592 20,856 18,834 15 4 54,125 57,636 (6)
Provision for credit losses784 580 (787)(452)(1,395)35 156 577 (3,703)116
Noninterest expense
Personnel8,212 8,442 9,271 8,475 8,690 (3)(6)25,925 27,066 (4)
Technology, telecommunications and equipment798 799 876 827 741 — 8 2,473 2,400 3 
Occupancy732 705 722 725 738 4 (1)2,159 2,243 (4)
Operating losses2,218 576 673 512 540 285 311 3,467 1,056 228 
Professional and outside services1,235 1,310 1,286 1,468 1,417 (6)(13)3,831 4,255 (10)
Leases (1)186 185 188 195 220 1 (15)559 672 (17)
Advertising and promotion126 102 99 225 153 24 (18)327 375 (13)
Restructuring charges— — 5 66 1 NM(100)5 10 (50)
Other820 764 750 705 803 7 2 2,334 2,556 (9)
Total noninterest expense14,327 12,883 13,870 13,198 13,303 11 8 41,080 40,633 1 
Income before income tax expense4,394 3,565 4,509 8,110 6,926 23 (37)12,468 20,706 (40)
Income tax expense894 613 707 1,711 1,521 46 (41)2,214 3,867 (43)
Net income before noncontrolling interests3,500 2,952 3,802 6,399 5,405 19 (35)10,254 16,839 (39)
Less: Net income (loss) from noncontrolling interests(28)(167)131 649 283 83NM(64)1,041 NM
Wells Fargo net income$3,528 3,119 3,671 5,750 5,122 13 %(31)$10,318 15,798 (35)
Less: Preferred stock dividends and other278 280 278 280 335 (1)(17)836 1,012 (17)
Wells Fargo net income applicable to common stock$3,250 2,839 3,393 5,470 4,787 14 %(32)$9,482 14,786 (36)
Per share information
Earnings per common share$0.86 0.75 0.89 1.39 1.18 15 (27)$2.49 3.60 (31)
Diluted earnings per common share0.85 0.74 0.88 1.38 1.17 15 (27)2.47 3.57 (31)
NM – Not meaningful
(1)Represents expenses for assets we lease to customers.
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Wells Fargo & Company and Subsidiaries
CONSOLIDATED BALANCE SHEET
Sep 30, 2022
% Change from
(in millions)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021
Assets
Cash and due from banks$27,634 29,716 27,454 24,616 25,509 (7)%8 
Interest-earning deposits with banks137,821 125,424 174,441 209,614 241,178 10 (43)
Total cash, cash equivalents, and restricted cash165,455 155,140 201,895 234,230 266,687 7 (38)
Federal funds sold and securities purchased under resale agreements55,840 55,546 67,764 66,223 67,807 1 (18)
Debt securities:
Trading, at fair value85,766 89,157 86,672 88,265 94,943 (4)(10)
Available-for-sale, at fair value115,835 125,832 168,436 177,244 185,557 (8)(38)
Held-to-maturity, at amortized cost300,434 301,783 280,808 272,022 262,493 — 14 
Loans held for sale9,434 9,674 19,824 23,617 24,811 (2)(62)
Loans945,906 943,734 911,807 895,394 862,827 — 10 
Allowance for loan losses(12,571)(11,786)(11,504)(12,490)(13,517)(7)7 
Net loans933,335 931,948 900,303 882,904 849,310 — 10 
Mortgage servicing rights11,027 10,386 9,753 8,189 8,148 6 35 
Premises and equipment, net8,493 8,444 8,473 8,571 8,599 1 (1)
Goodwill25,172 25,178 25,181 25,180 26,191 — (4)
Derivative assets 29,253 24,896 27,365 21,478 27,060 18 8 
Equity securities59,560 61,774 70,755 72,886 66,526 (4)(10)
Other assets78,141 81,384 72,480 67,259 66,769 (4)17 
Total assets$1,877,745 1,881,142 1,939,709 1,948,068 1,954,901 — (4)
Liabilities
Noninterest-bearing deposits$494,594 515,437 529,957 527,748 529,051 (4)(7)
Interest-bearing deposits903,557 909,716 951,397 954,731 941,328 (1)(4)
Total deposits1,398,151 1,425,153 1,481,354 1,482,479 1,470,379 (2)(5)
Short-term borrowings48,382 37,075 33,601 34,409 41,980 30 15 
Derivative liabilities 23,400 17,168 15,499 9,424 12,976 36 80 
Accrued expenses and other liabilities72,991 71,662 74,229 70,957 75,513 2 (3)
Long-term debt156,412 150,291 153,337 160,689 162,982 4 (4)
Total liabilities1,699,336 1,701,349 1,758,020 1,757,958 1,763,830 — (4)
Equity
Wells Fargo stockholders’ equity:
Preferred stock20,057 20,057 20,057 20,057 20,270 — (1)
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 capital60,216 60,024 59,899 60,196 60,134 — — 
Retained earnings186,551 184,475 182,623 180,322 175,709 1 6 
Accumulated other comprehensive income (loss)(14,344)(10,608)(6,767)(1,702)(1,177)(35)NM
Treasury stock (1)(84,781)(84,906)(85,059)(79,757)(74,169)— (14)
Unearned ESOP shares(646)(646)(646)(646)(875)— 26 
Total Wells Fargo stockholders’ equity176,189 177,532 179,243 187,606 189,028 (1)(7)
Noncontrolling interests2,220 2,261 2,446 2,504 2,043 (2)9 
Total equity178,409 179,793 181,689 190,110 191,071 (1)(7)
Total liabilities and equity$1,877,745 1,881,142 1,939,709 1,948,068 1,954,901 — (4)
NM – Not meaningful
(1)Number of shares of treasury stock were 1,686,372,007, 1,688,846,993, 1,691,916,667, 1,596,009,977, and 1,484,890,493 at September 30, June 30, and March 31, 2022, and December 31, and September 30, 2021, respectively.
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Wells Fargo & Company and Subsidiaries
AVERAGE BALANCES AND INTEREST RATES (TAXABLE-EQUIVALENT BASIS) (1)
Quarter endedSep 30, 2022
% Change from		Nine months ended%
Change
 ($ in millions)Sep 30, 2022Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 30, 2021Jun 30, 2022Sep 30, 2021Sep 30, 2022Sep 30, 2021
Average Balances
Assets
Interest-earning deposits with banks$130,761 146,271 179,051 216,061 250,314 (11)%(48)$151,851 243,095 (38)%
Federal funds sold and securities purchased under resale agreements57,432 60,450 64,845 65,388 68,912 (5)(17)60,882 71,179 (14)
Trading debt securities91,618 89,258 90,677 92,597 88,476 3 4 90,521 86,828 4 
Available-for-sale debt securities127,821 147,138 169,048 178,770 179,237 (13)(29)147,852 192,765 (23)
Held-to-maturity debt securities305,063 298,101 279,245 264,695 261,182 2 17 294,231 238,769 23 
Loans held for sale11,458 14,828 19,513 24,149 24,490 (23)(53)15,237 28,702 (47)
Loans945,465 926,567 898,005 875,036 854,024 2 11 923,520 860,666 7 
Equity securities29,722 30,770 33,282 35,711 32,790 (3)(9)31,244 30,678 2 
Other13,577 16,085 11,498 11,514 10,070 (16)35 13,727 9,559 44 
Total interest-earning assets1,712,917 1,729,468 1,745,164 1,763,921 1,769,495 (1)(3)1,729,065 1,762,241 (2)
Total noninterest-earning assets167,773 173,103 174,228 179,509 180,205 (3)(7)171,678 179,150 (4)
Total assets$1,880,690 1,902,571 1,919,392 1,943,430 1,949,700 (1)(4)$1,900,743 1,941,391 (2)
Liabilities
Interest-bearing deposits$902,219 924,526 945,335 938,682 941,014 (2)(4)$923,869 937,995 (2)
Short-term borrowings39,447 35,591 32,758 37,845 43,899 11 (10)35,956 50,439 (29)
Long-term debt158,984 151,230 153,803 161,335 174,643 5 (9)154,691 184,608 (16)
Other liabilities36,217 35,583 31,092 28,245 30,387 2 19 34,317 28,999 18 
Total interest-bearing liabilities1,136,867 1,146,930 1,162,988 1,166,107 1,189,943 (1)(4)1,148,833 1,202,041 (4)
Noninterest-bearing demand deposits505,632 521,267 518,737 531,345 509,927 (3)(1)515,164 488,961 5 
Other noninterest-bearing liabilities55,154 53,358 51,330 55,234 55,789 3 (1)53,295 59,010 (10)
Total liabilities1,697,653 1,721,555 1,733,055 1,752,686 1,755,659 (1)(3)1,717,292 1,750,012 (2)
Total equity183,037 181,016 186,337 190,744 194,041 1 (6)183,451 191,379 (4)
 Total liabilities and equity$1,880,690 1,902,571 1,919,392 1,943,430 1,949,700 (1)(4)$1,900,743 1,941,391 (2)
Average Interest Rates
Interest-earning assets
Interest-earning deposits with banks2.12 %0.88 0.22 0.16 0.15 0.98 %0.12 
Federal funds sold and securities purchased under resale agreements1.73 0.47 (0.05)(0.01)0.03 0.69 0.03 
Trading debt securities2.75 2.50 2.44 2.39 2.33 2.57 2.38 
Available-for-sale debt securities2.47 1.91 1.72 1.55 1.57 2.00 1.54 
Held-to-maturity debt securities2.23 2.06 1.98 1.86 1.87 2.09 1.88 
Loans held for sale4.18 3.41 2.86 2.79 2.81 3.38 3.24 
Loans4.28 3.52 3.25 3.32 3.29 3.70 3.32 
Equity securities2.09 2.51 2.05 2.16 1.78 2.22 1.81 
Other1.97 0.65 0.12 0.09 0.09 0.94 0.06 
Total interest-earning assets3.39 2.70 2.38 2.31 2.24 2.82 2.27 
Interest-bearing liabilities
Interest-bearing deposits0.23 0.07 0.04 0.04 0.04 0.11 0.04 
Short-term borrowings1.59 0.34 (0.17)(0.14)(0.06)0.65 (0.07)
Long-term debt3.90 2.67 1.98 1.71 1.71 2.87 1.79 
Other liabilities1.89 1.78 1.68 1.38 1.15 1.79 1.37 
Total interest-bearing liabilities0.84 0.47 0.33 0.29 0.31 0.55 0.34 
Interest rate spread on a taxable-equivalent basis (2)2.55 2.23 2.05 2.02 1.93 2.27 1.93 
Net interest margin on a taxable-equivalent basis (2)2.83 2.39 2.16 2.11 2.03 2.46 2.03 
(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 $105 million, $108 million, $107 million, $106 million and $105 million for the quarters ended September 30, June 30, and March 31, 2022, and December 31 and September 30, 2021, respectively, and $320 million and $321 million for the first nine months 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 September 30, 2022
(in millions)Consumer Banking and LendingCommercial BankingCorporate and Investment BankingWealth and Investment ManagementCorporate (2)Reconciling Items (3)Consolidated
Company
Net interest income$7,102 1,991 2,270 1,088 (248)(105)12,098 
Noninterest income2,175 961 1,790 2,577 284 (380)7,407 
Total revenue9,277 2,952 4,060 3,665 36 (485)19,505 
Provision for credit losses917 (168)32 8 (5)— 784 
Noninterest expense6,758 1,526 1,900 2,796 1,347 — 14,327 
Income (loss) before income tax expense (benefit)1,602 1,594 2,128 861 (1,306)(485)4,394 
Income tax expense (benefit)401 409 536 222 (189)(485)894 
Net income (loss) before noncontrolling interests1,201 1,185 1,592 639 (1,117)— 3,500 
Less: Net income (loss) from noncontrolling interests— 3 — — (31)— (28)
Net income (loss)$1,201 1,182 1,592 639 (1,086)— 3,528 
Quarter ended June 30, 2022
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 September 30, 2021
Net interest income$5,707 1,231 1,866 637 (427)(105)8,909 
Noninterest income3,097 845 1,519 2,981 1,752 (269)9,925 
Total revenue8,804 2,076 3,385 3,618 1,325 (374)18,834 
Provision for credit losses(518)(335)(460)(73)(9)— (1,395)
Noninterest expense6,053 1,396 1,797 2,917 1,140 — 13,303 
Income (loss) before income tax expense (benefit)3,269 1,015 2,048 774 194 (374)6,926 
Income tax expense (benefit)818 254 518 195 110 (374)1,521 
Net income before noncontrolling interests2,451 761 1,530 579 84 — 5,405 
Less: Net income from noncontrolling interests— 2 — — 281 — 283 
Net income (loss)$2,451 759 1,530 579 (197)— 5,122 
(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)
Nine months ended September 30, 2022
(in millions)Consumer Banking and LendingCommercial BankingCorporate and Investment BankingWealth and Investment ManagementCorporate (2)Reconciling Items (3)Consolidated
Company
Net interest income$19,470 4,932 6,317 2,803 (1,685)(320)31,517 
Noninterest income6,877 2,839 4,786 8,324 976 (1,194)22,608 
Total revenue26,347 7,771 11,103 11,127 (709)(1,514)54,125 
Provision for credit losses1,340 (491)(226)(36)(10)— 577 
Noninterest expense19,189 4,535 5,723 8,882 2,751 — 41,080 
Income (loss) before income tax expense (benefit)
5,818 3,727 5,606 2,281 (3,450)(1,514)12,468 
Income tax expense (benefit)1,454 938 1,420 574 (658)(1,514)2,214 
Net income (loss) before noncontrolling interests4,364 2,789 4,186 1,707 (2,792)— 10,254 
Less: Net income (loss) from noncontrolling interests
— 9 — — (73)— (64)
Net income (loss)$4,364 2,780 4,186 1,707 (2,719)— 10,318 
Nine months ended September 30, 2021
Net interest income$16,940 3,687 5,428 1,904 (1,121)(321)26,517 
Noninterest income9,204 2,578 4,899 8,794 6,496 (852)31,119 
Total revenue26,144 6,265 10,327 10,698 5,375 (1,173)57,636 
Provision for credit losses(1,304)(1,116)(1,245)(92)54 — (3,703)
Noninterest expense18,522 4,469 5,435 8,836 3,371 — 40,633 
Income (loss) before income tax expense (benefit)
8,926 2,912 6,137 1,954 1,950 (1,173)20,706 
Income tax expense (benefit)2,233 727 1,531 491 58 (1,173)3,867 
Net income before noncontrolling interests6,693 2,185 4,606 1,463 1,892 — 16,839 
Less: Net income (loss) from noncontrolling interests— 5 (2)— 1,038 — 1,041 
Net income$6,693 2,180 4,608 1,463 854 — 15,798 
(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 endedSep 30, 2022
% Change from		Nine months ended
($ in millions)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021		Sep 30,
2022		Sep 30,
2021		%
Change
Income Statement
Net interest income $7,102 6,372 5,996 5,867 5,707 11 %24 $19,470 16,940 15 %
Noninterest income:
Deposit-related fees 773 779 845 853 799 (1)(3)2,397 2,192 9 
Card fees 1,043 1,038 961 1,007 1,014 — 3 3,042 2,923 4 
Mortgage banking 212 211 654 905 1,168 — (82)1,077 3,585 (70)
Other147 107 107 101 116 37 27 361 504 (28)
Total noninterest income 2,175 2,135 2,567 2,866 3,097 2 (30)6,877 9,204 (25)
Total revenue 9,277 8,507 8,563 8,733 8,804 9 5 26,347 26,144 1 
Net charge-offs435 358 375 408 302 22 44 1,168 1,031 13 
Change in the allowance for credit losses482 255 (565)(282)(820)89 159 172 (2,335)107 
Provision for credit losses917 613 (190)126 (518)50 277 1,340 (1,304)203 
Noninterest expense6,758 6,036 6,395 6,126 6,053 12 12 19,189 18,522 4 
Income before income tax expense1,602 1,858 2,358 2,481 3,269 (14)(51)5,818 8,926 (35)
Income tax expense401 465 588 619 818 (14)(51)1,454 2,233 (35)
Net income$1,201 1,393 1,770 1,862 2,451 (14)(51)$4,364 6,693 (35)
Revenue by Line of Business
Consumer and Small Business Banking$6,232 5,510 5,071 4,872 4,822 13 29 $16,813 14,086 19 
Consumer Lending:
Home Lending973 972 1,490 1,843 2,012 — (52)3,435 6,311 (46)
Credit Card1,349 1,304 1,265 1,271 1,251 3 8 3,918 3,657 7 
Auto423 436 444 470 445 (3)(5)1,303 1,263 3 
Personal Lending300 285 293 277 274 5 9 878 827 6 
Total revenue$9,277 8,507 8,563 8,733 8,804 9 5 $26,347 26,144 1 
Selected Balance Sheet Data (average)
Loans by Line of Business:
Consumer and Small Business Banking$9,895 10,453 10,605 12,573 15,122 (5)(35)$10,315 17,991 (43)
Consumer Lending:
Home Lending221,870 218,371 213,714 214,900 217,011 2 2 218,015 227,663 (4)
Credit Card35,052 32,825 31,503 30,375 28,925 7 21 33,139 28,607 16 
Auto55,430 56,813 57,278 55,773 53,043 (2)5 56,500 51,121 11 
Personal Lending13,397 12,397 11,955 11,787 11,456 8 17 12,588 11,361 11 
Total loans$335,644 330,859 325,055 325,408 325,557 1 3 $330,557 336,743 (2)
Total deposits888,037 898,650 881,339 864,373 848,419 (1)5 889,366 824,752 8 
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$9,898 10,400 11,006 11,270 13,686 (5)(28)$9,898 13,686 (28)
Consumer Lending:
Home Lending222,471 222,088 215,858 214,407 216,649 — 3 222,471 216,649 3 
Credit Card35,965 34,075 31,974 31,671 29,433 6 22 35,965 29,433 22 
Auto55,116 56,224 57,652 57,260 54,472 (2)1 55,116 54,472 1 
Personal Lending13,902 12,945 12,068 11,966 11,678 7 19 13,902 11,678 19 
Total loans$337,352 335,732 328,558 326,574 325,918 — 4 $337,352 325,918 4 
Total deposits886,991 892,373 909,896 883,674 858,424 (1)3 886,991 858,424 3 


-10-

Wells Fargo & Company and Subsidiaries
CONSUMER BANKING AND LENDING SEGMENT (continued)
Quarter endedSep 30, 2022
% Change from		Nine months ended
($ in millions, unless otherwise noted)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021		Sep 30,
2022		Sep 30,
2021		%
Change
Selected Metrics
Consumer Banking and Lending:
Return on allocated capital (1)9.4 %11.1 14.4 14.8 19.7 11.6 %18.1 
Efficiency ratio (2)73 71 75 70 69 73 71 
Retail bank branches (#)4,612 4,660 4,705 4,777 4,796 (1)%(4)4,612 4,796 (4)%
Digital active customers (# in millions) (3)33.6 33.4 33.7 33.0 32.7 1 3 33.6 32.7 3 
Mobile active customers (# in millions) (3) 28.3 28.0 27.8 27.3 27.0 1 5 28.3 27.0 5 
Consumer and Small Business Banking:
Deposit spread (4) 2.1 %1.7 1.6 1.4 1.5 1.8 %1.5 
Debit card purchase volume ($ in billions) (5)$122.4 125.2115.0122.4118.6(2)3 $362.6 349.14 
Debit card purchase transactions (# in millions) (5) 2,501 2,517 2,338 2,523 2,515 (1)(1)7,356 7,285 1 
Home Lending:
Mortgage banking:
Net servicing income $81 77 116 125 109 5 (26)$274 (90)404 
Net gains on mortgage loan originations/sales 131 134 538 780 1,059 (2)(88)803 3,675 (78)
Total mortgage banking$212 211 654 905 1,168 — (82)$1,077 3,585 (70)
Originations ($ in billions):
Retail $12.4 19.6 24.1 32.8 35.2 (37)(65)$56.1 105.7 (47)
Correspondent9.1 14.5 13.8 15.3 16.7 (37)(46)37.4 51.2 (27)
Total originations$21.5 34.1 37.9 48.1 51.9 (37)(59)$93.5 156.9 (40)
% of originations held for sale (HFS) 59.2 %46.1 51.4 55.7 60.6 51.2 %67.3 
Third party mortgage loans serviced (period-end) ($ in billions) (6) $687.4 696.9 704.2 716.8 739.5 (1)(7)$687.4 739.5 (7)
Mortgage servicing rights (MSR) carrying value (period-end) 9,828 9,1638,5116,9206,8627 43 9,828 6,862 43 
Ratio of MSR carrying value (period-end) to third party mortgage loans serviced
(period-end) (6)
1.43 %1.31 1.21 0.97 0.93 1.43 %0.93 
Home lending loans 30+ days delinquency rate (7)(8)(9) 0.29 0.28 0.29 0.39 0.45 0.29 0.45 
Credit Card:
Point of sale (POS) volume ($ in billions)$30.7 30.126.027.524.62 25 $86.8 67.8 28 
New accounts (# in thousands)584 52448452552611 11 1,592 1,115 43 
Credit card loans 30+ days delinquency rate1.81 %1.54 1.58 1.52 1.46 1.81 %1.46 
Auto:
Auto originations ($ in billions) $5.4 5.47.39.49.2— (41)$18.1 24.5 (26)
Auto loans 30+ days delinquency rate (8) 2.19 %1.95 1.68 1.84 1.46 2.19 %1.46 
Personal Lending:
New volume ($ in billions)$3.5 3.32.62.72.76 30 $9.4 7.132 
(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 endedSep 30, 2022
% Change from		Nine months ended
($ in millions)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021		Sep 30,
2022		Sep 30,
2021		%
Change
Income Statement
Net interest income$1,991 1,580 1,361 1,273 1,231 26 %62 $4,932 3,687 34 %
Noninterest income:
Deposit-related fees256 310 328 320 323 (17)(21)894 965 (7)
Lending-related fees126 122 121 129 132 3 (5)369 403 (8)
Lease income176 179 179 170 165 (2)7 534 512 4 
Other403 301 338 392 225 34 79 1,042 698 49 
Total noninterest income961 912 966 1,011 845 5 14 2,839 2,578 10 
Total revenue2,952 2,492 2,327 2,284 2,076 18 42 7,771 6,265 24 
Net charge-offs(3)4 (29)(7)16 NMNM(28)108 NM
Change in the allowance for credit losses(165)17 (315)(377)(351)NM53 (463)(1,224)62 
Provision for credit losses(168)21 (344)(384)(335)NM50 (491)(1,116)56 
Noninterest expense1,526 1,478 1,531 1,393 1,396 3 9 4,535 4,469 1 
Income before income tax expense 1,594 993 1,140 1,275 1,015 61 57 3,727 2,912 28 
Income tax expense 409 249 280 318 254 64 61 938 727 29 
Less: Net income from noncontrolling interests3 3 3 3 2 — 50 9 5 80 
Net income$1,182 741 857 954 759 60 56 $2,780 2,180 28 
Revenue by Line of Business
Middle Market Banking$1,793 1,459 1,246 1,167 1,165 23 54 $4,498 3,475 29 
Asset-Based Lending and Leasing1,159 1,033 1,081 1,117 911 12 27 3,273 2,790 17 
Total revenue$2,952 2,492 2,327 2,284 2,076 18 42 $7,771 6,265 24 
Revenue by Product
Lending and leasing$1,333 1,308 1,255 1,236 1,190 2 12 $3,896 3,599 8 
Treasury management and payments1,242 943 779 711 713 32 74 2,964 2,114 40 
Other377 241 293 337 173 56 118 911 552 65 
Total revenue$2,952 2,492 2,327 2,284 2,076 18 42 $7,771 6,265 24 
Selected Metrics
Return on allocated capital23.1 %14.3 16.9 18.5 14.5 18.1 %14.0 
Efficiency ratio52 59 66 61 67 58 71 
NM – Not meaningful

-12-

Wells Fargo & Company and Subsidiaries
COMMERCIAL BANKING SEGMENT (continued)
Quarter endedSep 30, 2022
% Change from		Nine months ended
($ in millions)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021		Sep 30,
2022		Sep 30,
2021		%
Change
Selected Balance Sheet Data (average)
Loans:
Commercial and industrial$150,365 143,833 135,792 125,011 118,039 5 %27 $143,383 118,840 21 %
Commercial real estate45,121 44,790 45,053 45,755 46,576 1 (3)44,988 47,444 (5)
Lease financing and other13,511 13,396 13,550 13,855 14,007 1 (4)13,486 13,812 (2)
Total loans$208,997 202,019 194,395 184,621 178,622 3 17 $201,857 180,096 12 
Loans by Line of Business:
Middle Market Banking$117,031 113,033 108,583 103,594 101,523 4 15 $112,913 102,642 10 
Asset-Based Lending and Leasing91,966 88,986 85,812 81,027 77,099 3 19 88,944 77,454 15 
Total loans $208,997 202,019 194,395 184,621 178,622 3 17 $201,857 180,096 12 
Total deposits180,231 188,286 200,699 207,678 199,226 (4)(10)189,664 193,761 (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$155,400 146,656 140,932 131,078 120,203 6 29 $155,400 120,203 29 
Commercial real estate45,540 44,992 44,428 45,467 46,318 1 (2)45,540 46,318 (2)
Lease financing and other13,645 13,593 13,473 13,803 14,018 — (3)13,645 14,018 (3)
Total loans$214,585 205,241 198,833 190,348 180,539 5 19 $214,585 180,539 19 
Loans by Line of Business:
Middle Market Banking$118,627 116,064 110,258 106,834 102,279 2 16 $118,627 102,279 16 
Asset-Based Lending and Leasing95,958 89,177 88,575 83,514 78,260 8 23 95,958 78,260 23 
Total loans$214,585 205,241 198,833 190,348 180,539 5 19 $214,585 180,539 19 
Total deposits172,727 183,145 195,549 205,428 204,853 (6)(16)172,727 204,853 (16)

-13-

Wells Fargo & Company and Subsidiaries
CORPORATE AND INVESTMENT BANKING SEGMENT
Quarter endedSep 30, 2022
% Change from		Nine months ended
($ in millions)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021		Sep 30,
2022		Sep 30,
2021		%
Change
Income Statement
Net interest income$2,270 2,057 1,990 1,982 1,866 10 %22 $6,317 5,428 16 %
Noninterest income:
Deposit-related fees255 280 293 283 286 (9)(11)828 829 — 
Lending-related fees198 195 185 192 196 2 1 578 569 2 
Investment banking fees392 307 462 678 536 28 (27)1,161 1,727 (33)
Net gains (losses) from trading activities674 378 228 (174)85 78 693 1,280 446 187 
Other271 356 312 551 416 (24)(35)939 1,328 (29)
Total noninterest income1,790 1,516 1,480 1,530 1,519 18 18 4,786 4,899 (2)
Total revenue4,060 3,573 3,470 3,512 3,385 14 20 11,103 10,327 8 
Net charge-offs(16)(11)(31)8 (48)(45)67 (58)(30)(93)
Change in the allowance for credit losses48 (51)(165)(202)(412)194 112 (168)(1,215)86 
Provision for credit losses32 (62)(196)(194)(460)152 107 (226)(1,245)82 
Noninterest expense1,900 1,840 1,983 1,765 1,797 3 6 5,723 5,435 5 
Income before income tax expense2,128 1,795 1,683 1,941 2,048 19 4 5,606 6,137 (9)
Income tax expense536 459 425 488 518 17 3 1,420 1,531 (7)
Less: Net loss from noncontrolling interests— — — (1)— — — — (2)100 
Net income$1,592 1,336 1,258 1,454 1,530 19 4 $4,186 4,608 (9)
Revenue by Line of Business
Banking:
Lending$580 528 521 519 502 10 16 $1,629 1,429 14 
Treasury Management and Payments670 529 432 373 372 27 80 1,631 1,095 49 
Investment Banking336 222 331 464 367 51 (8)889 1,190 (25)
Total Banking1,586 1,279 1,284 1,356 1,241 24 28 4,149 3,714 12 
Commercial Real Estate1,212 1,060 995 1,095 942 14 29 3,267 2,868 14 
Markets:
Fixed Income, Currencies, and Commodities (FICC)914 934 877 794 884 (2)3 2,725 2,916 (7)
Equities316 253 267 205 234 25 35 836 692 21 
Credit Adjustment (CVA/DVA) and Other17 13 25 13 58 31 (71)55 78 (29)
Total Markets1,247 1,200 1,169 1,012 1,176 4 6 3,616 3,686 (2)
Other15 34 22 49 26 (56)(42)71 59 20 
Total revenue$4,060 3,573 3,470 3,512 3,385 14 20 $11,103 10,327 8 
Selected Metrics
Return on allocated capital16.6 %13.8 13.2 16.0 16.9 14.6 %17.2 
Efficiency ratio47 51 57 50 53 52 53 


-14-

Wells Fargo & Company and Subsidiaries
CORPORATE AND INVESTMENT BANKING SEGMENT (continued)
Quarter endedSep 30, 2022
% Change from		Nine months ended
($ in millions)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021		Sep 30,
2022		Sep 30,
2021		%
Change
Selected Balance Sheet Data (average)
Loans:
Commercial and industrial$205,185 200,527 191,152 182,778 170,486 2 %20 $199,006 166,647 19 %
Commercial real estate101,055 98,167 93,346 89,216 86,809 3 16 97,551 85,349 14 
Total loans$306,240 298,694 284,498 271,994 257,295 3 19 $296,557 251,996 18 
Loans by Line of Business:
Banking$109,909 109,123 102,485 101,589 95,911 1 15 $107,200 91,130 18 
Commercial Real Estate137,568 133,212 126,248 116,630 110,683 3 24 132,384 109,073 21 
Markets58,763 56,359 55,765 53,775 50,701 4 16 56,973 51,793 10 
Total loans$306,240 298,694 284,498 271,994 257,295 3 19 $296,557 251,996 18 
Trading-related assets:
Trading account securities$110,919 110,499 115,687 118,147 112,148 — (1)$112,351 107,771 4 
Reverse repurchase agreements/securities borrowed45,486 48,909 54,832 53,526 56,758 (7)(20)49,708 60,903 (18)
Derivative assets28,050 30,845 26,244 24,267 25,191 (9)11 28,386 25,668 11 
Total trading-related assets$184,455 190,253 196,763 195,940 194,097 (3)(5)$190,445 194,342 (2)
Total assets560,509 564,306 551,404 543,946 524,124 (1)7 558,773 516,401 8 
Total deposits156,830 164,860 169,181 182,101 189,424 (5)(17)163,578 191,560 (15)
Allocated capital36,000 36,000 36,000 34,000 34,000 — 6 36,000 34,000 6 
Selected Balance Sheet Data (period-end)
Loans:
Commercial and industrial$198,253 207,414 194,201 191,391 177,002 (4)12 $198,253 177,002 12 
Commercial real estate101,440 100,872 96,426 92,983 86,955 1 17 101,440 86,955 17 
Total loans$299,693 308,286 290,627 284,374 263,957 (3)14 $299,693 263,957 14 
Loans by Line of Business:
Banking$103,809 111,639 107,081 101,926 99,683 (7)4 $103,809 99,683 4 
Commercial Real Estate137,077 137,083 129,375 125,926 112,050 — 22 137,077 112,050 22 
Markets58,807 59,564 54,171 56,522 52,224 (1)13 58,807 52,224 13 
Total loans$299,693 308,286 290,627 284,374 263,957 (3)14 $299,693 263,957 14 
Trading-related assets:
Trading account securities$113,488 109,634 113,763 108,697 114,187 4 (1)$113,488 114,187 (1)
Reverse repurchase agreements/securities borrowed44,194 42,696 57,579 55,973 55,123 4 (20)44,194 55,123 (20)
Derivative assets28,545 24,540 26,695 21,398 27,096 16 5 28,545 27,096 5 
Total trading-related assets$186,227 176,870 198,037 186,068 196,406 5 (5)$186,227 196,406 (5)
Total assets550,695 567,733 564,976 546,549 535,385 (3)3 550,695 535,385 3 
Total deposits154,550 162,439 168,467 168,609 191,786 (5)(19)154,550 191,786 (19)

-15-

Wells Fargo & Company and Subsidiaries
WEALTH AND INVESTMENT MANAGEMENT SEGMENT
Quarter endedSep 30, 2022
% Change from		Nine months ended
($ in millions, unless otherwise noted)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021		Sep 30,
2022		Sep 30,
2021		%
Change
Income Statement
Net interest income$1,088 916 799 666 637 19 %71 $2,803 1,904 47 %
Noninterest income:
Investment advisory and other asset-based fees 2,066 2,306 2,476 2,429 2,457 (10)(16)6,848 7,145 (4)
Commissions and brokerage services fees 486 459 454 484 458 6 6 1,399 1,526 (8)
Other25 24 28 69 66 4 (62)77 123 (37)
Total noninterest income2,577 2,789 2,958 2,982 2,981 (8)(14)8,324 8,794 (5)
Total revenue3,665 3,705 3,757 3,648 3,618 (1)1 11,127 10,698 4 
Net charge-offs(1)— (4)19 (3)NM67 (5)(9)44 
Change in the allowance for credit losses9 (7)(33)(22)(70)229 113 (31)(83)63 
Provision for credit losses8 (7)(37)(3)(73)214 111 (36)(92)61 
Noninterest expense2,796 2,911 3,175 2,898 2,917 (4)(4)8,882 8,836 1 
Income before income tax expense861 801 619 753 774 7 11 2,281 1,954 17 
Income tax expense222 198 154 189 195 12 14 574 491 17 
Net income$639 603 465 564 579 6 10 $1,707 1,463 17 
Selected Metrics
Return on allocated capital28.4 %27.1 21.0 25.0 25.7 25.5 %21.8 
Efficiency ratio76 79 85 79 81 80 83 
Advisory assets ($ in billions)$756 800912964920(6)(18)$756 920 (18)
Other brokerage assets and deposits ($ in billions) 1,003 1,0351,1681,2191,171(3)(14)1,003 1,171(14)
Total client assets ($ in billions)
$1,759 1,8352,0802,1832,091(4)(16)$1,759 2,091 (16)
Annualized revenue per advisor ($ in thousands) (1)
1,212 1,213 1,221 1,171 1,141 — 6 1,215 1,094 11 
Total financial and wealth advisors (#) (period-end)
12,011 12,184 12,250 12,367 12,552 (1)(4)12,011 12,552 (4)
Selected Balance Sheet Data (average)
Total loans$85,472 85,912 84,765 84,007 82,785 (1)3 $85,386 81,810 4 
Total deposits158,367 173,670 185,814 180,939 176,570 (9)(10)172,516 175,087 (1)
Allocated capital8,750 8,750 8,750 8,750 8,750 — — 8,750 8,750 — 
Selected Balance Sheet Data (period-end)
Total loans85,180 85,342 84,688 84,101 82,824 — 3 85,180 82,824 3 
Total deposits148,890 165,633 183,727 192,548 177,809 (10)(16)148,890 177,809 (16)
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 endedSep 30, 2022
% Change from		Nine months ended
($ in millions)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021		Sep 30,
2022		Sep 30,
2021		%
Change
Income Statement
Net interest income$(248)(619)(818)(420)(427)60 %42 $(1,685)(1,121)(50)%
Noninterest income284 (114)806 3,540 1,752 349 (84)976 6,496 (85)
Total revenue 36 (733)(12)3,120 1,325 105 (97)(709)5,375 NM
Net charge-offs(16)(6)(6)(5)(10)NM(60)(28)59 NM
Change in the allowance for credit losses11 21 (14)8 1 (48)NM18 (5)460 
Provision for credit losses(5)15 (20)3 (9)NM44 (10)54 NM
Noninterest expense1,347 618 786 1,016 1,140 118 18 2,751 3,371 (18)
Income (loss) before income tax expense (benefit)(1,306)(1,366)(778)2,101 194 4 NM(3,450)1,950 NM
Income tax expense (benefit)(189)(242)(227)538 110 22 NM(658)58 NM
Less: Net income (loss) from noncontrolling interests(31)(170)128 647 281 82 NM(73)1,038 NM
Net income (loss) $(1,086)(954)(679)916 (197)(14)NM$(2,719)854 NM
Selected Balance Sheet Data (average)
Cash, cash equivalents, and restricted cash$134,725 145,637 178,747 216,156 250,414 (7)(46)$152,875 242,853 (37)
Available-for-sale debt securities110,575 127,997 156,756 169,953 172,035 (14)(36)131,607 185,847 (29)
Held-to-maturity debt securities297,335 291,710 275,510 262,969 260,167 2 14 288,265 238,591 21 
Equity securities15,423 15,681 15,760 15,172 13,254 (2)16 15,620 11,894 31 
Total loans9,112 9,083 9,292 9,006 9,765 — (7)9,163 10,021 (9)
Total assets617,713 642,606 687,341 727,818 762,067 (4)(19)648,966 748,236 (13)
Total deposits24,386 20,327 27,039 34,936 37,302 20 (35)23,909 41,796 (43)
Selected Balance Sheet Data (period-end)
Cash, cash equivalents, and restricted cash$141,743 123,872 175,201 209,696 241,423 14 (41)$141,743 241,423 (41)
Available-for-sale debt securities104,726 114,469 157,164 165,926 173,237 (9)(40)104,726 173,237 (40)
Held-to-maturity debt securities297,530 298,895 277,965 269,285 261,583 — 14 297,530 261,583 14 
Equity securities15,581 15,004 16,137 16,549 14,022 4 11 15,581 14,022 11 
Total loans9,096 9,133 9,101 9,997 9,589 — (5)9,096 9,589 (5)
Total assets615,408 611,658 682,912 721,335 751,155 1 (18)615,408 751,155 (18)
Total deposits34,993 21,563 23,715 32,220 37,507 62 (7)34,993 37,507 (7)
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 endedSep 30, 2022
$ Change from
($ in millions) Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021
Period-End Loans
Commercial and industrial$379,694 380,235 362,137 350,436 326,425 (541)53,269 
Real estate mortgage133,770 133,411 129,495 127,733 121,985 359 11,785 
Real estate construction21,889 21,743 20,613 20,092 21,129 146 760 
Lease financing14,617 14,530 14,469 14,859 15,398 87 (781)
Total commercial549,970 549,919 526,714 513,120 484,937 51 65,033 
Residential mortgage – first lien254,165 252,941 245,242 242,270 242,935 1,224 11,230 
Residential mortgage – junior lien13,900 14,604 15,392 16,618 18,026 (704)(4,126)
Credit card43,558 41,222 38,639 38,453 36,061 2,336 7,497 
Auto54,545 55,658 57,083 56,659 53,827 (1,113)718 
Other consumer29,768 29,390 28,737 28,274 27,041 378 2,727 
Total consumer395,936 393,815 385,093 382,274 377,890 2,121 18,046 
Total loans$945,906 943,734 911,807 895,394 862,827 2,172 83,079 
Average Loans
Commercial and industrial$381,375 370,615 353,829 335,752 319,426 10,760 61,949 
Real estate mortgage133,720 131,128 127,464 123,806 121,453 2,592 12,267 
Real estate construction21,571 21,328 20,259 20,800 21,794 243 (223)
Lease financing14,526 14,445 14,586 15,227 15,492 81 (966)
Total commercial551,192 537,516 516,138 495,585 478,165 13,676 73,027 
Residential mortgage – first lien253,383 248,879 242,883 242,515 243,201 4,504 10,182 
Residential mortgage – junior lien14,226 14,998 16,017 17,317 18,809 (772)(4,583)
Credit card42,407 39,614 38,164 37,041 35,407 2,793 7,000 
Auto54,874 56,262 56,701 55,161 52,370 (1,388)2,504 
Other consumer29,383 29,298 28,102 27,417 26,072 85 3,311 
Total consumer394,273 389,051 381,867 379,451 375,859 5,222 18,414 
Total loans$945,465 926,567 898,005 875,036 854,024 18,898 91,441 
Average Interest Rates
Commercial and industrial4.13 %2.92 2.41 2.45 2.44 
Real estate mortgage4.12 3.00 2.65 2.64 2.67 
Real estate construction4.93 3.59 3.31 3.08 3.10 
Lease financing3.76 4.24 4.24 4.27 4.45 
Total commercial4.14 3.00 2.56 2.58 2.60 
Residential mortgage – first lien3.16 3.12 3.14 3.27 3.12 
Residential mortgage – junior lien5.28 4.48 4.17 4.22 4.11 
Credit card11.51 11.13 11.32 11.25 11.47 
Auto4.27 4.18 4.17 4.37 4.44 
Other consumer5.58 4.26 3.69 3.67 3.70 
Total consumer4.47 4.23 4.20 4.28 4.18 
Total loans4.28 %3.52 3.25 3.32 3.29 

-18-

Wells Fargo & Company and Subsidiaries
NET LOAN CHARGE-OFFS
Quarter ended
Sep 30, 2022Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 30, 2021Sep 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)Jun 30,
2022		Sep 30,
2021
By product:
Commercial:
Commercial and industrial$13 0.01 %$27 0.03 %$(23)(0.03)%$3 — %$46 0.06 %$(14)(33)
Real estate mortgage(12)(0.04)(4)(0.01)(5)(0.02)22 0.07 (10)(0.03)(8)(2)
Real estate construction— — — — — — — — 1 — — (1)
Lease financing5 0.15 — — (1)(0.02)3 0.09 1 0.03 5 4 
Total commercial6 — 23 0.02 (29)(0.02)28 0.02 38 0.03 (17)(32)
Consumer:
Residential mortgage – first lien(1)— (3)(0.01)(3)— 110 0.18 (14)(0.02)2 13 
Residential mortgage – junior lien(13)(0.36)(13)(0.36)(18)(0.46)8 0.19 (28)(0.61)— 15 
Credit card202 1.90 199 2.02 176 1.87 150 1.61 158 1.77 3 44 
Auto121 0.87 68 0.49 96 0.68 58 0.41 26 0.20 53 95 
Other consumer84 1.13 70 0.98 83 1.20 67 0.96 79 1.22 14 5 
Total consumer393 0.40 321 0.33 334 0.35 393 0.41 221 0.23 72 172 
Total net charge-offs$399 0.17 %$344 0.15 %$305 0.14 %$421 0.19 %$259 0.12 %$55 140 
By segment:
Consumer Banking and Lending$435 0.51 %$358 0.43 %$375 0.47 %$410 0.50 %$302 0.37 %$77 133 
Commercial Banking(3)(0.01)3 0.01 (29)(0.06)(9)(0.02)16 0.04 (6)(19)
Corporate and Investing Banking(16)(0.02)(11)(0.01)(31)(0.04)8 0.01 (48)(0.07)(5)32 
Wealth and Investment Management(1)— — — (4)(0.02)18 0.09 (3)(0.01)(1)2 
Corporate(16)(0.70)(6)(0.26)(6)(0.26)(6)(0.26)(8)(0.33)(10)(8)
Total net charge-offs$399 0.17 %$344 0.15 %$305 0.14 %$421 0.19 %$259 0.12 %$55 140 
(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 endedSep 30, 2022
$ Change from
($ in millions)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021
Balance, beginning of period$12,884 12,681 13,788 14,705 16,391 203 (3,507)
Provision for credit losses773 578 (775)(464)(1,387)195 2,160 
Interest income on certain loans (1)(26)(27)(29)(33)(35)1 9 
Net loan charge-offs:
Commercial:
Commercial and industrial(13)(27)23 (3)(46)14 33 
Real estate mortgage12 4 5 (22)10 8 2 
Real estate construction— — — — (1)— 1 
Lease financing(5)— 1 (3)(1)(5)(4)
Total commercial(6)(23)29 (28)(38)17 32 
Consumer:
Residential mortgage – first lien1 3 3 (110)14 (2)(13)
Residential mortgage – junior lien13 13 18 (8)28 — (15)
Credit card(202)(199)(176)(150)(158)(3)(44)
Auto(121)(68)(96)(58)(26)(53)(95)
Other consumer(84)(70)(83)(67)(79)(14)(5)
Total consumer(393)(321)(334)(393)(221)(72)(172)
Net loan charge-offs(399)(344)(305)(421)(259)(55)(140)
Other(7)(4)2 1 (5)(3)(2)
Balance, end of period$13,225 12,884 12,681 13,788 14,705 341 (1,480)
Components:
Allowance for loan losses$12,571 11,786 11,504 12,490 13,517 785 (946)
Allowance for unfunded credit commitments654 1,098 1,177 1,298 1,188 (444)(534)
Allowance for credit losses for loans$13,225 12,884 12,681 13,788 14,705 341 (1,480)
Ratio of allowance for loan losses to total net loan charge-offs (annualized) 7.94x8.549.317.4913.14
Allowance for loan losses as a percentage of:
Total loans1.33 %1.25 1.26 1.39 1.57 
Nonaccrual loans225 197 167 173 192 
Allowance for credit losses for loans as a percentage of:
Total loans1.40 1.37 1.39 1.54 1.70 
Nonaccrual loans237 215 185 191 208 
(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    
Sep 30, 2022Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 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
$4,547 1.20 %$4,620 1.22 %$4,625 1.28 %$4,873 1.39 %$5,193 1.59 %
Real estate mortgage
1,656 1.24 1,810 1.36 1,883 1.45 2,085 1.63 2,422 1.99 
Real estate construction
577 2.64 378 1.74 366 1.78 431 2.15 470 2.22 
Lease financing
211 1.44 274 1.89 274 1.89 402 2.71 480 3.12 
Total commercial
6,991 1.27 7,082 1.29 7,148 1.36 7,791 1.52 8,565 1.77 
Consumer:
Residential mortgage – first lien (1)1,027 0.40 1,024 0.40 927 0.38 1,156 0.48 1,197 0.49 
Residential mortgage – junior lien (1)(26)(0.19)(6)(0.04)2 0.01 130 0.78 201 1.12 
Credit card3,364 7.72 3,253 7.89 3,094 8.01 3,290 8.56 3,356 9.31 
Auto1,340 2.46 1,045 1.88 1,030 1.80 928 1.64 901 1.67 
Other consumer529 1.78 486 1.65 480 1.67 493 1.74 485 1.79 
Total consumer
6,234 1.57 5,802 1.47 5,533 1.44 5,997 1.57 6,140 1.62 
Total allowance for credit losses for loans$13,225 1.40 %$12,884 1.37 %$12,681 1.39 %$13,788 1.54 %$14,705 1.70 %
By segment:
Consumer Banking and Lending$7,002 2.08 %$6,540 1.95 %$6,305 1.92 %$6,891 2.11 %$7,194 2.21 %
Commercial Banking2,477 1.15 2,644 1.29 2,631 1.32 2,950 1.55 3,334 1.85 
Corporate and Investing Banking3,517 1.17 3,480 1.13 3,532 1.22 3,705 1.30 3,900 1.48 
Wealth and Investment Management240 0.28 231 0.27 238 0.28 271 0.32 292 0.35 
Corporate(11)(0.12)(11)(0.12)(25)(0.27)(29)(0.29)(15)(0.16)
Total allowance for credit losses for loans$13,225 1.40 %$12,884 1.37 %$12,681 1.39 %$13,788 1.54 %$14,705 1.70 %
(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)
Sep 30, 2022Jun 30, 2022Mar 31, 2022Dec 31, 2021Sep 30, 2021Sep 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		Jun 30,
2022		Sep 30,
2021
By product:
Nonaccrual loans:
Commercial:
Commercial and industrial$742 0.20 %$722 0.19 %$799 0.22 %$980 0.28 %$1,274 0.39 %$20 (532)
Real estate mortgage850 0.64 898 0.67 1,033 0.80 1,235 0.97 1,538 1.26 (48)(688)
Real estate construction3 0.01 3 0.01 4 0.02 13 0.06 20 0.09 — (17)
Lease financing108 0.74 96 0.66 117 0.81 148 1.00 188 1.22 12 (80)
Total commercial1,703 0.31 1,719 0.31 1,953 0.37 2,376 0.46 3,020 0.62 (16)(1,317)
Consumer:
Residential mortgage – first lien (1)3,024 1.19 3,322 1.31 3,873 1.58 3,803 1.57 3,093 1.27 (298)(69)
Residential mortgage – junior lien (1)653 4.70 729 4.99 802 5.21 801 4.82 702 3.89 (76)(49)
Auto171 0.31 188 0.34 208 0.36 198 0.35 206 0.38 (17)(35)
Other consumer36 0.12 35 0.12 35 0.12 34 0.12 37 0.14 1 (1)
Total consumer3,884 0.98 4,274 1.09 4,918 1.28 4,836 1.27 4,038 1.07 (390)(154)
Total nonaccrual loans5,587 0.59 5,993 0.64 6,871 0.75 7,212 0.81 7,058 0.82 (406)(1,471)
Foreclosed assets125 130 130 112 121 (5)4 
Total nonperforming assets$5,712 0.60 %$6,123 0.65 %$7,001 0.77 %$7,324 0.82 %$7,179 0.83 %$(411)(1,467)
By segment:
Consumer Banking and Lending$3,811 1.13 %$4,179 1.24 %$4,754 1.45 %$4,672 1.43 %$3,955 1.21 %$(368)(144)
Commercial Banking1,025 0.48 1,065 0.52 1,242 0.62 1,520 0.80 1,827 1.01 (40)(802)
Corporate and Investing Banking673 0.22 646 0.21 706 0.24 778 0.27 1,073 0.41 27 (400)
Wealth and Investment Management203 0.24 233 0.27 299 0.35 354 0.42 324 0.39 (30)(121)
Corporate— — — — — — — — — — — — 
Total nonperforming assets$5,712 0.60 %$6,123 0.65 %$7,001 0.77 %$7,324 0.82 %$7,179 0.83 %$(411)(1,467)
(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
Sep 30, 2022Jun 30, 2022Sep 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$53 144,595 15 %$248,059 $56 146,264 15 %$245,199 $140 134,060 16 %$227,289 
Technology, telecom and media69 27,892 367,050 70 26,215 367,564 75 21,226 260,120 
Real estate and construction65 25,572 359,197 67 26,154 358,281 87 20,900 250,959 
Equipment, machinery and parts manufacturing14 22,915 246,784 19 21,473 245,914 29 17,503 243,051 
Retail49 19,673 245,653 19 18,994 241,335 36 17,181 239,977 
Materials and commodities78 17,026 240,173 25 16,793 238,571 40 13,225 235,410 
Food and beverage manufacturing18 15,659 234,794 6 15,522 233,816 7 12,637 130,880 
Oil, gas and pipelines55 9,858 130,897 84 9,878 131,043 280 8,725 128,955 
Health care and pharmaceuticals21 14,472 229,207 20 13,936 129,624 28 12,821 129,718 
Auto related9 12,137 127,262 11 11,868 127,255 56 9,290 124,868 
Utilities61 8,848 *26,090 77 9,060 *25,579 67 7,025 *21,953 
Commercial services28 10,818 125,676 38 10,954 124,824 77 9,537 124,158 
Diversified or miscellaneous11 8,219 *21,009 10 8,661 *20,714 4 6,792 *17,643 
Entertainment and recreation35 11,407 117,812 39 11,399 118,909 26 8,451 *16,716 
Banks— 15,575 217,694 — 19,775 220,836 — 15,444 215,812 
Insurance and fiduciaries1 4,515 *15,630 1 5,104 *15,688 1 4,071 *15,080 
Transportation services226 7,817 *15,405 213 8,583 *15,725 431 8,319 *15,896 
Government and education16 6,578 *12,657 16 6,096 *12,225 4 5,303 *10,794 
Agribusiness25 6,301 *11,417 26 6,070 *11,631 51 5,333 *10,986 
Other16 4,434 *11,677 21 1,966 *9,248 23 3,980 *11,602 
Total$850 394,311 42 %$804,143 $818 394,765 42 %$793,981 $1,462 341,823 40 %$731,867 
*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
Sep 30, 2022Jun 30, 2022Sep 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$9 38,855 4 %$51,565 $10 37,707 4 %$49,748 $14 28,948 3 %$37,988 
Office buildings173 35,194 440,411 109 36,161 4 41,546 167 36,206 4 41,932 
Industrial/warehouse44 19,453 224,465 57 18,501 2 22,354 97 17,758 2 20,758 
Hotel/motel153 13,144 114,030 186 13,378 1 14,110 297 12,113 1 12,529 
Retail (excluding shopping center)87 11,853 112,576 105 11,970 1 12,744 141 13,116 2 13,789 
Shopping center253 9,825 110,434 283 10,167 1 10,781 593 10,712 1 11,321 
Institutional34 7,987 *9,411 37 7,739 *9,229 64 7,184 *9,037 
Mixed use properties57 7,356 *8,688 61 7,517 *8,974 94 6,233 *7,360 
Collateral pool— 3,305 *3,804 — 3,389 *3,904 — 3,095 *3,770 
Storage facility— 2,877 *3,110 — 2,825 *3,044 — 2,161 *2,815 
Other43 5,810 *8,866 53 5,800 *9,248 91 5,588 *8,069 
Total
$853 155,659 16 %$187,360 $901 155,154 16 %$185,682 $1,558 143,114 17 %$169,368 
*Less than 1%.
(1)Total commitments consists of loans outstanding plus unfunded credit commitments, excluding issued letters of credit.
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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.
Sep 30, 2022
% Change from
(in millions, except ratios)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021
Tangible book value per common share:
Total equity$178,409 179,793 181,689 190,110 191,071 (1)%(7)
Adjustments:
Preferred stock(20,057)(20,057)(20,057)(20,057)(20,270)— 1 
Additional paid-in capital on preferred stock136 135 136 136 120 1 13 
Unearned ESOP shares646 646 646 646 875 — (26)
Noncontrolling interests(2,220)(2,261)(2,446)(2,504)(2,043)2 (9)
Total common stockholders' equity(A)156,914 158,256 159,968 168,331 169,753 (1)(8)
Adjustments:
Goodwill(25,172)(25,178)(25,181)(25,180)(26,191)— 4 
Certain identifiable intangible assets (other than MSRs)(171)(191)(210)(225)(281)10 39 
Goodwill and other intangibles on investments in consolidated portfolio companies (included in
other assets)
(2,378)(2,307)(2,304)(2,437)(2,120)(3)(12)
Applicable deferred taxes related to goodwill and other intangible assets (1)889 880 871 765 886 1 — 
Tangible common equity(B)$130,082 131,460 133,144 141,254 142,047 (1)(8)
Common shares outstanding(C)3,795.4 3,793.0 3,789.9 3,885.8 3,996.9 — (5)
Book value per common share(A)/(C)$41.34 41.72 42.21 43.32 42.47 (1)(3)
Tangible book value per common share(B)/(C)34.27 34.66 35.13 36.35 35.54 (1)(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.
-25-

Wells Fargo & Company and Subsidiaries
TANGIBLE COMMON EQUITY (continued)
Quarter endedSep 30, 2022
% Change from		Nine months ended
(in millions, except ratios)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021		Sep 30,
2022		Sep 30,
2021		%
Change
Return on average tangible common equity:
Net income applicable to common stock(A)$3,250 2,839 3,393 5,470 4,787 14 %(32)$9,482 14,786 (36)%
Average total equity183,037 181,016 186,337 190,744 194,041 1 (6)183,451 191,379 (4)
Adjustments:
Preferred stock(20,057)(20,057)(20,057)(20,267)(21,403)— 6 (20,057)(21,449)(6)
Additional paid-in capital on preferred stock135 135 134 120 145 — (7)135 143 (6)
Unearned ESOP shares646 646 646 872 875 — (26)646 875 (26)
Noncontrolling interests(2,258)(2,386)(2,468)(2,119)(1,845)5 (22)(2,370)(1,427)66 
Average common stockholders’ equity(B)161,503 159,354 164,592 169,350 171,813 1 (6)161,805 169,521 (5)
Adjustments:
Goodwill(25,177)(25,179)(25,180)(25,569)(26,192)— 4 (25,179)(26,262)(4)
Certain identifiable intangible assets (other than MSRs)
(181)(200)(218)(246)(290)10 38 (199)(310)(36)
Goodwill and other intangibles on investments in consolidated portfolio companies (included in other assets)(2,359)(2,304)(2,395)(2,309)(2,169)(2)(9)(2,352)(2,198)7 
Applicable deferred taxes related to goodwill and other intangible assets (1)886 877 803 848 882 1 — 855 873 (2)
Average tangible common equity(C)$134,672 132,548 137,602 142,074 144,044 2 (7)$134,930 141,624 (5)
Return on average common stockholders’ equity (ROE) (annualized)(A)/(B)8.0 %7.1 8.4 12.8 11.1 7.8 %11.7 
Return on average tangible common equity (ROTCE) (annualized)(A)/(C)9.6 8.6 10.0 15.3 13.2 9.4 14.0 
(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)
EstimatedSep 30, 2022
% Change from
($ in billions)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021
Total equity$178.4 179.8 181.7 190.1 191.1 (1)%(7)
Adjustments:
Preferred stock(20.1)(20.1)(20.1)(20.1)(20.3)— 1 
Additional paid-in capital on preferred stock0.1 0.2 0.1 0.1 0.1 (33)13 
Unearned ESOP shares0.7 0.7 0.7 0.7 0.9 — (15)
Noncontrolling interests(2.2)(2.3)(2.4)(2.5)(2.0)2 (9)
Total common stockholders' equity156.9 158.3 160.0 168.3 169.8 (1)(8)
Adjustments:
Goodwill(25.2)(25.2)(25.2)(25.2)(26.2)— 4 
Certain identifiable intangible assets (other than MSRs)(0.2)(0.2)(0.2)(0.2)(0.3)19 39 
Goodwill and other intangibles on investments in consolidated portfolio companies (included in other assets)(2.4)(2.3)(2.3)(2.4)(2.1)(3)(12)
Applicable deferred taxes related to goodwill and other intangible assets (2)0.9 0.9 0.9 0.8 0.9 2 — 
Current expected credit loss (CECL) transition provision (3)0.2 0.2 0.2 0.2 0.5 1 (61)
Other(0.4)(1.6)(1.1)(0.9)(1.0)75 61 
Common Equity Tier 1(A)129.8 130.1 132.3 140.6 141.6 — (8)
Preferred stock20.1 20.1 20.1 20.1 20.3 — (1)
Additional paid-in capital on preferred stock(0.1)(0.2)(0.1)(0.2)(0.1)50— 
Unearned ESOP shares(0.7)(0.7)(0.7)(0.6)(0.9)6 20 
Other(0.3)(0.2)(0.3)(0.2)(0.3)(39)6 
Total Tier 1 capital(B)148.8 149.1 151.3 159.7 160.6 — (7)
Long-term debt and other instruments qualifying as Tier 220.6 21.6 22.3 22.7 22.8 (5)(10)
Qualifying allowance for credit losses (4)13.6 13.2 13.0 14.1 14.6 3 (7)
Other(0.3)(0.3)(0.3)(0.2)(0.4)8 39 
Total qualifying capital(C)$182.7 183.6 186.3 196.3 197.6 — (8)
Total risk-weighted assets (RWAs)(D)$1,257.4 1,253.6 1,265.5 1,239.0 1,218.9 — 3 
Common Equity Tier 1 to total RWAs(A)/(D)10.3 %10.4 10.5 11.4 11.6 
Tier 1 capital to total RWAs(B)/(D)11.8 11.9 12.0 12.9 13.2 
Total capital to total RWAs(C)/(D)14.5 14.6 14.7 15.8 16.2 
(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.

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Wells Fargo & Company and Subsidiaries
RISK-BASED CAPITAL RATIOS UNDER BASEL III – ADVANCED APPROACH (1)
EstimatedSep 30, 2022
% Change from
($ in billions)Sep 30,
2022		Jun 30,
2022		Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2022		Sep 30,
2021
Total equity$178.4 179.8 181.7 190.1 191.1 (1)%(7)
Adjustments:
Preferred stock(20.1)(20.1)(20.1)(20.1)(20.3)— 1 
Additional paid-in capital on preferred stock0.1 0.2 0.1 0.2 0.1 (43)13 
Unearned ESOP shares0.7 0.7 0.7 0.6 0.9 — (15)
Noncontrolling interests(2.2)(2.3)(2.4)(2.5)(2.0)5 (9)
Total common stockholders' equity156.9 158.3 160.0 168.3 169.8 (1)(8)
Adjustments:
Goodwill(25.2)(25.2)(25.2)(25.2)(26.2)— 4 
Certain identifiable intangible assets (other than MSRs)(0.2)(0.2)(0.2)(0.2)(0.3)19 39 
Goodwill and other intangibles on investments in consolidated portfolio companies (included in other assets)(2.4)(2.3)(2.3)(2.4)(2.1)(3)(12)
Applicable deferred taxes related to goodwill and other intangible assets (2)0.9 0.9 0.9 0.8 0.9 2 — 
CECL transition provision (3)0.2 0.2 0.2 0.2 0.5 1 (61)
Other(0.4)(1.6)(1.1)(0.9)(1.0)74 61 
Common Equity Tier 1(A)129.8 130.1 132.3 140.6 141.6 — (8)
Preferred stock20.1 20.1 20.1 20.1 20.3 — (1)
Additional paid-in capital on preferred stock(0.1)(0.2)(0.1)(0.2)(0.1)50— 
Unearned ESOP shares(0.7)(0.7)(0.7)(0.6)(0.9)6 20 
Other(0.3)(0.2)(0.3)(0.2)(0.3)(41)6 
Total Tier 1 capital(B)148.8 149.1 151.3 159.7 160.6 — (7)
Long-term debt and other instruments qualifying as Tier 220.6 21.6 22.3 22.7 22.8 (5)(10)
Qualifying allowance for credit losses (4)4.4 4.4 4.4 4.4 4.4 — 1 
Other(0.3)(0.3)(0.3)(0.2)(0.4)19 39 
Total qualifying capital(C)$173.5 174.8 177.7 186.6 187.4 (1)(7)
Total RWAs(D)$1,104.9 1,121.6 1,119.5 1,116.1 1,138.6 (1)(3)
Common Equity Tier 1 to total RWAs(A)/(D)11.7 %11.6 11.8 12.6 12.4 
Tier 1 capital to total RWAs(B)/(D)13.5 13.3 13.5 14.3 14.1 
Total capital to total RWAs(C)/(D)15.7 15.6 15.9 16.7 16.5 
(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-