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[ "ADOBE INC.\r\nCONSOLIDATED BALANCE SHEETS\r\n(In millions, except par value)\r\nDecember 1,\r\n2023\r\nDecember 2,\r\n2022\r\nASSETS\r\nCurrent assets:\r\nCash and cash equivalents $ 7,141 $ 4,236\r\nShort-term investments 701 1,860\r\nTrade receivables, net of allowances for doubtful accounts of $16 and of $23, respectively 2,224 2,065\r\nPrepaid expenses and other current assets 1,018 835\r\nTotal current assets 11,084 8,996\r\nProperty and equipment, net 2,030 1,908\r\nOperating lease right-of-use assets, net 358 407\r\nGoodwill 12,805 12,787\r\nOther intangibles, net 1,088 1,449\r\nDeferred income taxes 1,191 777\r\nOther assets 1,223 841\r\nTotal assets $ 29,779 $ 27,165\r\nLIABILITIES AND STOCKHOLDERS’ EQUITY\r\nCurrent liabilities:\r\nTrade payables $ 314 $ 379", "ADOBE INC.\r\nCONSOLIDATED STATEMENTS OF INCOME\r\n(In millions, except per share data)\r\nYears Ended\r\nDecember 1,\r\n2023\r\nDecember 2,\r\n2022\r\nDecember 3,\r\n2021\r\nRevenue:\r\nSubscription $ 18,284 $ 16,388 $ 14,573\r\nProduct 460 532 555\r\nServices and other 665 686 657\r\nTotal revenue 19,409 17,606 15,785\r\nCost of revenue:\r\nSubscription 1,822 1,646 1,374\r\nProduct 29 35 41\r\nServices and other 503 484 450\r\nTotal cost of revenue 2,354 2,165 1,865" ]

[ "As of\n(in millions) December 1, 2023 December 2, 2022\nCash and cash equivalents $ 7,141 $ 4,236\nShort-term investments $ 701 $ 1,860\nWorking capital $ 2,833 $ 868\nStockholders’ equity $ 16,518 $ 14,051", "ADOBE INC.\nCONSOLIDATED BALANCE SHEETS\n(In millions, except par value)\nDecember 1,\n2023\nDecember 2,\n2022\nASSETS\nCurrent assets:\nCash and cash equivalents $ 7,141 $ 4,236\nShort-term investments 701 1,860\nTrade receivables, net of allowances for doubtful accounts of $16 and of $23, respectively 2,224 2,065\nPrepaid expenses and other current assets 1,018 835\nTotal current assets 11,084 8,996\nProperty and equipment, net 2,030 1,908\nOperating lease right-of-use assets, net 358 407\nGoodwill 12,805 12,787\nOther intangibles, net 1,088 1,449\nDeferred income taxes 1,191 777\nOther assets 1,223 841\nTotal assets $ 29,779 $ 27,165\nLIABILITIES AND STOCKHOLDERS’ EQUITY\nCurrent liabilities:\nTrade payables $ 314 $ 379\nAccrued expenses 1,942 1,790\nDebt — 500\nDeferred revenue 5,837 5,297\nIncome taxes payable 85 75\nOperating lease liabilities 73 87\nTotal current liabilities 8,251 8,128" ]

[ "ADOBE INC.\r\nCONSOLIDATED BALANCE SHEETS\r\n(In millions, except par value)\r\nDecember 1,\r\n2023\r\nDecember 2,\r\n2022\r\nASSETS\r\nCurrent assets:\r\nCash and cash equivalents $ 7,141 $ 4,236\r\nShort-term investments 701 1,860\r\nTrade receivables, net of allowances for doubtful accounts of $16 and of $23, respectively 2,224 2,065\r\nPrepaid expenses and other current assets 1,018 835\r\nTotal current assets 11,084 8,996\r\nProperty and equipment, net 2,030 1,908\r\nOperating lease right-of-use assets, net 358 407\r\nGoodwill 12,805 12,787\r\nOther intangibles, net 1,088 1,449\r\nDeferred income taxes 1,191 777\r\nOther assets 1,223 841\r\nTotal assets $ 29,779 $ 27,165\r\nLIABILITIES AND STOCKHOLDERS’ EQUITY\r\nCurrent liabilities:\r\nTrade payables $ 314 $ 379\r\nAccrued expenses 1,942 1,790\r\nDebt — 500\r\nDeferred revenue 5,837 5,297\r\nIncome taxes payable 85 75\r\nOperating lease liabilities 73 87\r\nTotal current liabilities 8,251 8,128\r\nLong-term liabilities:\r\nDebt 3,634 3,629" ]

[ "ADOBE INC.\r\nCONSOLIDATED STATEMENTS OF INCOME\r\n(In millions, except per share data)\r\nYears Ended\r\nDecember 1,\r\n2023\r\nDecember 2,\r\n2022\r\nDecember 3,\r\n2021\r\nRevenue:\r\nSubscription $ 18,284 $ 16,388 $ 14,573\r\nProduct 460 532 555\r\nServices and other 665 686 657\r\nTotal revenue 19,409 17,606 15,785\r\nCost of revenue:\r\nSubscription 1,822 1,646 1,374\r\nProduct 29 35 41\r\nServices and other 503 484 450\r\nTotal cost of revenue 2,354 2,165 1,865\r\nGross profit 17,055 15,441 13,920\r\nOperating expenses:\r\nResearch and development 3,473 2,987 2,540\r\nSales and marketing 5,351 4,968 4,321\r\nGeneral and administrative 1,413 1,219 1,085\r\nAmortization of intangibles 168 169 172\r\nTotal operating expenses 10,405 9,343 8,118\r\nOperating income 6,650 6,098 5,802\r\nNon-operating income (expense):\r\nInterest expense (113) (112) (113)" ]

[ "ADOBE INC.\r\nCONSOLIDATED BALANCE SHEETS\r\n(In millions, except par value)\r\nDecember 1,\r\n2023\r\nDecember 2,\r\n2022\r\nASSETS\r\nCurrent assets:\r\nCash and cash equivalents $ 7,141 $ 4,236\r\nShort-term investments 701 1,860\r\nTrade receivables, net of allowances for doubtful accounts of $16 and of $23, respectively 2,224 2,065\r\nPrepaid expenses and other current assets 1,018 835\r\nTotal current assets 11,084 8,996\r\nProperty and equipment, net 2,030 1,908\r\nOperating lease right-of-use assets, net 358 407\r\nGoodwill 12,805 12,787\r\nOther intangibles, net 1,088 1,449\r\nDeferred income taxes 1,191 777\r\nOther assets 1,223 841\r\nTotal assets $ 29,779 $ 27,165\r\nLIABILITIES AND STOCKHOLDERS’ EQUITY\r\nCurrent liabilities:\r\nTrade payables $ 314 $ 379\r\nAccrued expenses 1,942 1,790\r\nDebt — 500\r\nDeferred revenue 5,837 5,297\r\nIncome taxes payable 85 75\r\nOperating lease liabilities 73 87\r\nTotal current liabilities 8,251 8,128\r\nLong-term liabilities:\r\nDebt 3,634 3,629\r\nDeferred revenue 113 117\r\nIncome taxes payable 514 530\r\nOperating lease liabilities 373 417\r\nOther liabilities 376 293\r\nTotal liabilities 13,261 13,114\r\nCommitments and contingencies\r\nStockholders’ equity:\r\nPreferred stock, $0.0001 par value; 2 shares authorized; none issued — —\r\nCommon stock, $0.0001 par value; 900 shares authorized; 601 shares issued;\r\n455 and 462 shares outstanding, respectively — —\r\nAdditional paid-in-capital 11,586 9,868\r\nRetained earnings 33,346 28,319\r\nAccumulated other comprehensive income (loss) (285) (293)\r\nTreasury stock, at cost (146 and 139 shares, respectively) (28,129) (23,843)\r\nTotal stockholders’ equity 16,518 14,051" ]

[ "ADOBE INC.\r\nCONSOLIDATED STATEMENTS OF INCOME\r\n(In millions, except per share data)\r\nYears Ended\r\nDecember 1,\r\n2023\r\nDecember 2,\r\n2022\r\nDecember 3,\r\n2021\r\nRevenue:\r\nSubscription $ 18,284 $ 16,388 $ 14,573\r\nProduct 460 532 555\r\nServices and other 665 686 657\r\nTotal revenue 19,409 17,606 15,785\r\nCost of revenue:\r\nSubscription 1,822 1,646 1,374\r\nProduct 29 35 41\r\nServices and other 503 484 450\r\nTotal cost of revenue 2,354 2,165 1,865\r\nGross profit 17,055 15,441 13,920\r\nOperating expenses:\r\nResearch and development 3,473 2,987 2,540\r\nSales and marketing 5,351 4,968 4,321\r\nGeneral and administrative 1,413 1,219 1,085\r\nAmortization of intangibles 168 169 172\r\nTotal operating expenses 10,405 9,343 8,118\r\nOperating income 6,650 6,098 5,802\r\nNon-operating income (expense):\r\nInterest expense (113) (112) (113)\r\nInvestment gains (losses), net 16 (19) 16\r\nOther income (expense), net 246 41 —\r\nTotal non-operating income (expense), net 149 (90) (97)\r\nIncome before income taxes 6,799 6,008 5,705\r\nProvision for income taxes 1,371 1,252 883\r\nNet income $ 5,428 $ 4,756 $ 4,822", "ADOBE INC.\r\nCONSOLIDATED BALANCE SHEETS\r\n(In millions, except par value)\r\nDecember 1,\r\n2023\r\nDecember 2,\r\n2022\r\nASSETS\r\nCurrent assets:\r\nCash and cash equivalents $ 7,141 $ 4,236\r\nShort-term investments 701 1,860\r\nTrade receivables, net of allowances for doubtful accounts of $16 and of $23, respectively 2,224 2,065\r\nPrepaid expenses and other current assets 1,018 835\r\nTotal current assets 11,084 8,996\r\nProperty and equipment, net 2,030 1,908\r\nOperating lease right-of-use assets, net 358 407\r\nGoodwill 12,805 12,787\r\nOther intangibles, net 1,088 1,449\r\nDeferred income taxes 1,191 777\r\nOther assets 1,223 841\r\nTotal assets $ 29,779 $ 27,165\r\nLIABILITIES AND STOCKHOLDERS’ EQUITY\r\nCurrent liabilities:\r\nTrade payables $ 314 $ 379\r\nAccrued expenses 1,942 1,790\r\nDebt — 500\r\nDeferred revenue 5,837 5,297\r\nIncome taxes payable 85 75\r\nOperating lease liabilities 73 87\r\nTotal current liabilities 8,251 8,128\r\nLong-term liabilities:\r\nDebt 3,634 3,629\r\nDeferred revenue 113 117\r\nIncome taxes payable 514 530\r\nOperating lease liabilities 373 417\r\nOther liabilities 376 293\r\nTotal liabilities 13,261 13,114\r\nCommitments and contingencies\r\nStockholders’ equity:\r\nPreferred stock, $0.0001 par value; 2 shares authorized; none issued — —\r\nCommon stock, $0.0001 par value; 900 shares authorized; 601 shares issued;\r\n455 and 462 shares outstanding, respectively — —\r\nAdditional paid-in-capital 11,586 9,868\r\nRetained earnings 33,346 28,319\r\nAccumulated other comprehensive income (loss) (285) (293)\r\nTreasury stock, at cost (146 and 139 shares, respectively) (28,129) (23,843)\r\nTotal stockholders’ equity 16,518 14,051" ]

[ "ADOBE INC.\nCONSOLIDATED BALANCE SHEETS\n(In millions, except par value)\nDecember 1,\n2023\nDecember 2,\n2022\nASSETS\nCurrent assets:\nCash and cash equivalents $ 7,141 $ 4,236\nShort-term investments 701 1,860\nTrade receivables, net of allowances for doubtful accounts of $16 and of $23, respectively 2,224 2,065\nPrepaid expenses and other current assets 1,018 835\nTotal current assets 11,084 8,996\nProperty and equipment, net 2,030 1,908\nOperating lease right-of-use assets, net 358 407\nGoodwill 12,805 12,787\nOther intangibles, net 1,088 1,449\nDeferred income taxes 1,191 777\nOther assets 1,223 841\nTotal assets $ 29,779 $ 27,165\nLIABILITIES AND STOCKHOLDERS’ EQUITY\nCurrent liabilities:\nTrade payables $ 314 $ 379\nAccrued expenses 1,942 1,790\nDebt — 500\nDeferred revenue 5,837 5,297\nIncome taxes payable 85 75\nOperating lease liabilities 73 87\nTotal current liabilities 8,251 8,128", "ADOBE INC.\nCONSOLIDATED STATEMENTS OF INCOME\n(In millions, except per share data)\nYears Ended\nDecember 1,\n2023\nDecember 2,\n2022\nDecember 3,\n2021\nRevenue:\nSubscription $ 18,284 $ 16,388 $ 14,573\nProduct 460 532 555\nServices and other 665 686 657\nTotal revenue 19,409 17,606 15,785" ]

[ "ADOBE INC.\r\nCONSOLIDATED STATEMENTS OF INCOME\r\n(In millions, except per share data)\r\nYears Ended\r\nDecember 1,\r\n2023\r\nDecember 2,\r\n2022\r\nDecember 3,\r\n2021\r\nRevenue:\r\nSubscription $ 18,284 $ 16,388 $ 14,573\r\nProduct 460 532 555\r\nServices and other 665 686 657\r\nTotal revenue 19,409 17,606 15,785\r\nCost of revenue:\r\nSubscription 1,822 1,646 1,374\r\nProduct 29 35 41\r\nServices and other 503 484 450\r\nTotal cost of revenue 2,354 2,165 1,865\r\nGross profit 17,055 15,441 13,920\r\nOperating expenses:\r\nResearch and development 3,473 2,987 2,540\r\nSales and marketing 5,351 4,968 4,321\r\nGeneral and administrative 1,413 1,219 1,085\r\nAmortization of intangibles 168 169 172\r\nTotal operating expenses 10,405 9,343 8,118\r\nOperating income 6,650 6,098 5,802\r\nNon-operating income (expense):\r\nInterest expense (113) (112) (113)\r\nInvestment gains (losses), net 16 (19) 16\r\nOther income (expense), net 246 41 —\r\nTotal non-operating income (expense), net 149 (90) (97)\r\nIncome before income taxes 6,799 6,008 5,705\r\nProvision for income taxes 1,371 1,252 883\r\nNet income $ 5,428 $ 4,756 $ 4,822" ]

[ "ADOBE INC.\r\nCONSOLIDATED BALANCE SHEETS\r\n(In millions, except par value)\r\nDecember 1,\r\n2023\r\nDecember 2,\r\n2022\r\nASSETS\r\nCurrent assets:\r\nCash and cash equivalents $ 7,141 $ 4,236\r\nShort-term investments 701 1,860\r\nTrade receivables, net of allowances for doubtful accounts of $16 and of $23, respectively 2,224 2,065\r\nPrepaid expenses and other current assets 1,018 835\r\nTotal current assets 11,084 8,996\r\nProperty and equipment, net 2,030 1,908\r\nOperating lease right-of-use assets, net 358 407\r\nGoodwill 12,805 12,787\r\nOther intangibles, net 1,088 1,449\r\nDeferred income taxes 1,191 777\r\nOther assets 1,223 841\r\nTotal assets $ 29,779 $ 27,165\r\nLIABILITIES AND STOCKHOLDERS’ EQUITY\r\nCurrent liabilities:\r\nTrade payables $ 314 $ 379\r\nAccrued expenses 1,942 1,790\r\nDebt — 500\r\nDeferred revenue 5,837 5,297\r\nIncome taxes payable 85 75\r\nOperating lease liabilities 73 87\r\nTotal current liabilities 8,251 8,128\r\nLong-term liabilities:\r\nDebt 3,634 3,629\r\nDeferred revenue 113 117\r\nIncome taxes payable 514 530\r\nOperating lease liabilities 373 417\r\nOther liabilities 376 293\r\nTotal liabilities 13,261 13,114\r\nCommitments and contingencies\r\nStockholders’ equity:\r\nPreferred stock, $0.0001 par value; 2 shares authorized; none issued — —\r\nCommon stock, $0.0001 par value; 900 shares authorized; 601 shares issued;\r\n455 and 462 shares outstanding, respectively — —\r\nAdditional paid-in-capital 11,586 9,868\r\nRetained earnings 33,346 28,319\r\nAccumulated other comprehensive income (loss) (285) (293)\r\nTreasury stock, at cost (146 and 139 shares, respectively) (28,129) (23,843)\r\nTotal stockholders’ equity 16,518 14,051\r\nTotal liabilities and stockholders’ equity $ 29,779 $ 27,165" ]

[ "ADOBE INC.\r\nCONSOLIDATED STATEMENTS OF CASH FLOWS\r\n(In millions)\r\nYears Ended\r\nDecember 1,\r\n2023\r\nDecember 2,\r\n2022\r\nDecember 3,\r\n2021\r\nCash flows from operating activities:\r\nNet income $ 5,428 $ 4,756 $ 4,822\r\nAdjustments to reconcile net income to net cash provided by operating activities:\r\nDepreciation, amortization and accretion 872 856 788\r\nStock-based compensation 1,718 1,440 1,069\r\nReduction of operating lease right-of-use assets 72 83 73\r\nDeferred income taxes (426) 328 183\r\nUnrealized losses (gains) on investments, net (10) 29 (4)\r\nOther non-cash items 3 10 7\r\nChanges in operating assets and liabilities, net of acquired assets and\r\nassumed liabilities:\r\nTrade receivables, net (159) (198) (430)\r\nPrepaid expenses and other assets (818) (94) (475)\r\nTrade payables (49) 66 (20)\r\nAccrued expenses and other liabilities 146 7 162\r\nIncome taxes payable (11) 19 2\r\nDeferred revenue 536 536 1,053\r\nNet cash provided by operating activities 7,302 7,838 7,230\r\nCash flows from investing activities:\r\nPurchases of short-term investments — (909) (1,533)\r\nMaturities of short-term investments 965 683 877\r\nProceeds from sales of short-term investments 223 270 191\r\nAcquisitions, net of cash acquired — (126) (2,682)\r\nPurchases of property and equipment (360) (442) (348)\r\nPurchases of long-term investments, intangibles and other assets (53) (46) (42)\r\nProceeds from sales of long-term investments and other assets 1 — —\r\nNet cash provided by (used for) investing activities 776 (570) (3,537)\r\nCash flows from financing activities:\r\nRepurchases of common stock (4,400) (6,550) (3,950)" ]

[ "ADOBE INC.\r\nCONSOLIDATED STATEMENTS OF INCOME\r\n(In millions, except per share data)\r\nYears Ended\r\nDecember 1,\r\n2023\r\nDecember 2,\r\n2022\r\nDecember 3,\r\n2021\r\nRevenue:\r\nSubscription $ 18,284 $ 16,388 $ 14,573\r\nProduct 460 532 555\r\nServices and other 665 686 657\r\nTotal revenue 19,409 17,606 15,785\r\nCost of revenue:\r\nSubscription 1,822 1,646 1,374\r\nProduct 29 35 41\r\nServices and other 503 484 450\r\nTotal cost of revenue 2,354 2,165 1,865\r\nGross profit 17,055 15,441 13,920\r\nOperating expenses:\r\nResearch and development 3,473 2,987 2,540\r\nSales and marketing 5,351 4,968 4,321\r\nGeneral and administrative 1,413 1,219 1,085\r\nAmortization of intangibles 168 169 172\r\nTotal operating expenses 10,405 9,343 8,118\r\nOperating income 6,650 6,098 5,802\r\nNon-operating income (expense):\r\nInterest expense (113) (112) (113)\r\nInvestment gains (losses), net 16 (19) 16\r\nOther income (expense), net 246 41 —\r\nTotal non-operating income (expense), net 149 (90) (97)\r\nIncome before income taxes 6,799 6,008 5,705\r\nProvision for income taxes 1,371 1,252 883" ]

[ "(in millions) 2023 2022 2021\r\nInterest expense $ (113) $ (112) $ (113)\r\nInvestment gains (losses), net:\r\nRealized investment gains $ 6 $ 11 $ 9\r\nRealized investment losses — (1) —\r\nUnrealized investment gains (losses), net 10 (29) 7\r\nInvestment gains (losses), net $ 16 $ (19) $ 16\r\nOther income (expense), net:\r\nInterest income $ 269 $ 61 $ 17\r\nForeign exchange gains (losses) (17) (21) (17)\r\nRealized losses on fixed income investments (7) — —\r\nOther 1 1 —\r\nOther income (expense), net $ 246 $ 41 $ —\r\nNon-operating income (expense), net $ 149 $ (90) $ (97)" ]

[ "Interest Rate Risk\nShort-Term Investments and Fixed Income Securities\nAt December 1, 2023, we had debt securities classified as short-term investments of $701 million. Changes in interest\nrates could adversely affect the market value of these investments. A sensitivity analysis was performed on our short-term\ninvestment portfolio as of December 1, 2023, based on an estimate of the hypothetical changes in market value of the portfolio\nthat would result from an immediate parallel shift in the yield curve. A 150 basis point increase in interest rates would lead to a\n$6 million decrease in the market value of our short-term investments. Conversely, a 150 basis point decrease in interest rates\nwould lead to a $6 million increase in the market value of our short-term investments.\nSenior Notes\nAs of December 1, 2023, we had $3.65 billion of senior notes outstanding which bear interest at fixed rates, and\ntherefore do not subject us to financial statement risk associated with changes in interest rates. As of December 1, 2023, the\ntotal carrying amount of our senior notes was $3.63 billion and the related fair value based on observable market prices in less\nactive markets was $3.39 billion.", "(dollars in millions) Issuance Date Due Date\nEffective\nInterest\nRate 2023 2022\n1.70% 2023 Notes February 2020 February 2023 1.92% $ — $ 500\n1.90% 2025 Notes February 2020 February 2025 2.07% 500 500\n3.25% 2025 Notes January 2015 February 2025 3.67% 1,000 1,000\n2.15% 2027 Notes February 2020 February 2027 2.26% 850 850\n2.30% 2030 Notes February 2020 February 2030 2.69% 1,300 1,300\nTotal debt outstanding, at par $ 3,650 $ 4,150\nLess: Current portion of debt, at par — (500)\nUnamortized discount and debt issuance costs (16) (21)\nCarrying value of long-term debt $ 3,634 $ 3,629\nCarrying value of current debt, net of unamortized discount and debt issuance costs $ — $ 500" ]

[ "ADOBE INC.\r\nCONSOLIDATED STATEMENTS OF CASH FLOWS\r\n(In millions)\r\nYears Ended\r\nDecember 1,\r\n2023\r\nDecember 2,\r\n2022\r\nDecember 3,\r\n2021\r\nCash flows from operating activities:\r\nNet income $ 5,428 $ 4,756 $ 4,822\r\nAdjustments to reconcile net income to net cash provided by operating activities:\r\nDepreciation, amortization and accretion 872 856 788\r\nStock-based compensation 1,718 1,440 1,069\r\nReduction of operating lease right-of-use assets 72 83 73\r\nDeferred income taxes (426) 328 183\r\nUnrealized losses (gains) on investments, net (10) 29 (4)\r\nOther non-cash items 3 10 7\r\nChanges in operating assets and liabilities, net of acquired assets and\r\nassumed liabilities:\r\nTrade receivables, net (159) (198) (430)\r\nPrepaid expenses and other assets (818) (94) (475)\r\nTrade payables (49) 66 (20)\r\nAccrued expenses and other liabilities 146 7 162\r\nIncome taxes payable (11) 19 2\r\nDeferred revenue 536 536 1,053\r\nNet cash provided by operating activities 7,302 7,838 7,230\r\nCash flows from investing activities:\r\nPurchases of short-term investments — (909) (1,533)\r\nMaturities of short-term investments 965 683 877\r\nProceeds from sales of short-term investments 223 270 191\r\nAcquisitions, net of cash acquired — (126) (2,682)\r\nPurchases of property and equipment (360) (442) (348)\r\nPurchases of long-term investments, intangibles and other assets (53) (46) (42)\r\nProceeds from sales of long-term investments and other assets 1 — —\r\nNet cash provided by (used for) investing activities 776 (570) (3,537)\r\nCash flows from financing activities:\r\nRepurchases of common stock (4,400) (6,550) (3,950)\r\nProceeds from re-issuance of treasury stock 314 278 291\r\nTaxes paid related to net share settlement of equity awards (589) (518) (719)\r\nRepayment of debt (500) — —\r\nOther financing activities, net (7) (35) 77\r\nNet cash used for financing activities (5,182) (6,825) (4,301)" ]

[ "(in millions)\r\nDigital\r\nMedia\r\nDigital\r\nExperience\r\nPublishing and\r\nAdvertising Total Goodwill\r\nBalances at December 3, 2021 $ 3,731 $ 8,539 $ 398 $ 12,668\r\nAcquisitions 161 — — 161\r\nForeign currency translation (3) (39) — (42)\r\nBalances at December 2, 2022 $ 3,889 $ 8,500 $ 398 $ 12,787\r\nForeign currency translation 1 17 — 18\r\nBalances at December 1, 2023 $ 3,890 $ 8,517 $ 398 $ 12,805" ]

[ "(in millions) 2023 2022\r\nGross\r\nCarrying\r\nAmount\r\nAccumulated\r\nAmortization Net\r\nGross\r\nCarrying\r\nAmount\r\nAccumulated\r\nAmortization Net\r\nCustomer contracts and relationships $ 1,204 $ (619) $ 585 $ 1,204 $ (495) $ 709\r\nPurchased technology 984 (647) 337 1,060 (530) 530\r\nTrademarks 376 (217) 159 375 (172) 203\r\nOther 22 (15) 7 61 (54) 7\r\nOther intangibles, net $ 2,586 $ (1,498) $ 1,088 $ 2,700 $ (1,251) $ 1,449" ]

[ "ADOBE INC.\nCONSOLIDATED BALANCE SHEETS\n(In millions, except par value)\nDecember 1,\n2023\nDecember 2,\n2022\nASSETS\nCurrent assets:\nCash and cash equivalents $ 7,141 $ 4,236\nShort-term investments 701 1,860\nTrade receivables, net of allowances for doubtful accounts of $16 and of $23, respectively 2,224 2,065", "Allowance for Doubtful Accounts\nWe maintain an allowance for doubtful accounts which reflects our best estimate of potentially uncollectible trade\nreceivables and is based on both specific and general reserves. We maintain general reserves on a collective basis by\nconsidering factors such as historical experience, credit-worthiness, the age of the trade receivable balances, current economic\nconditions and a reasonable and supportable forecast of future economic conditions. The allowance for doubtful accounts was\n$16 million and $23 million as of December 1, 2023 and December 2, 2022, respectively." ]

[ "PayPal Holdings, Inc. CONSOLIDATED BALANCE SHEETS As of December 31, 2023 2022 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 9,081 $ 7,776 Short-term investments 4,979 3,092 Accounts receivable, net 1,069 963 Loans and interest receivable, held for sale 563 — Loans and interest receivable, net of allowances of $540 and $598 as of December 31, 2023 and 2022, respectively 5,433 7,431 Funds receivable and customer accounts 38,935 36,264 Prepaid expenses and other current assets 2,509 1,898 Total current assets 62,569 57,424 Long-term investments 3,273 5,018 Property and equipment, net 1,488 1,730 Goodwill 11,026 11,209 Intangible assets, net 537 788 Other assets 3,273 2,455 Total assets $ 82,166 $ 78,624 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 139 $ 126 Funds payable and amounts due to customers 41,935 40,014 Accrued expenses and other current liabilities 6,392 4,868 Total current liabilities 48,466 45,008 Other long-term liabilities 2,973 2,925 Long-term debt 9,676 10,417 Total liabilities 61,115 58,350 Commitments and contingencies (Note 13) Equity: Common stock, $0.0001 par value; 4,000 shares authorized; 1,072 and 1,136 shares outstanding as of December 31, 2023 and 2022, respectively — — Preferred stock, $0.0001 par value; 100 shares authorized, unissued — — Treasury stock at cost, 245 and 173 shares as of December 31, 2023 and 2022, respectively (21,045) (16,079) Additional paid-in-capital 19,642 18,327 Retained earnings 23,200 18,954 Accumulated other comprehensive income (loss) (746) (928) Total equity 21,051 20,274 Total liabilities and equity $ 82,166 $ 78,624" ]

[ "PayPal Holdings, Inc. CONSOLIDATED BALANCE SHEETS As of December 31, 2023 2022 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 9,081 $ 7,776 Short-term investments 4,979 3,092 Accounts receivable, net 1,069 963 Loans and interest receivable, held for sale 563 — Loans and interest receivable, net of allowances of $540 and $598 as of December 31, 2023 and 2022, respectively 5,433 7,431 Funds receivable and customer accounts 38,935 36,264 Prepaid expenses and other current assets 2,509 1,898 Total current assets 62,569 57,424 Long-term investments 3,273 5,018 Property and equipment, net 1,488 1,730 Goodwill 11,026 11,209 Intangible assets, net 537 788 Other assets 3,273 2,455 Total assets $ 82,166 $ 78,624 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 139 $ 126 Funds payable and amounts due to customers 41,935 40,014 Accrued expenses and other current liabilities 6,392 4,868 Total current liabilities 48,466 45,008 Other long-term liabilities 2,973 2,925 Long-term debt 9,676 10,417 Total liabilities 61,115 58,350 Commitments and contingencies (Note 13) Equity: Common stock, $0.0001 par value; 4,000 shares authorized; 1,072 and 1,136 shares outstanding as of December 31, 2023 and 2022, respectively — — Preferred stock, $0.0001 par value; 100 shares authorized, unissued — — Treasury stock at cost, 245 and 173 shares as of December 31, 2023 and 2022, respectively (21,045) (16,079) Additional paid-in-capital 19,642 18,327 Retained earnings 23,200 18,954 Accumulated other comprehensive income (loss) (746) (928) Total equity 21,051 20,274 Total liabilities and equity $ 82,166 $ 78,624" ]

[ "PayPal Holdings, Inc. CONSOLIDATED BALANCE SHEETS As of December 31, 2023 2022 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 9,081 $ 7,776 Short-term investments 4,979 3,092 Accounts receivable, net 1,069 963 Loans and interest receivable, held for sale 563 — Loans and interest receivable, net of allowances of $540 and $598 as of December 31, 2023 and 2022, respectively 5,433 7,431 Funds receivable and customer accounts 38,935 36,264 Prepaid expenses and other current assets 2,509 1,898 Total current assets 62,569 57,424 Long-term investments 3,273 5,018 Property and equipment, net 1,488 1,730 Goodwill 11,026 11,209 Intangible assets, net 537 788 Other assets 3,273 2,455 Total assets $ 82,166 $ 78,624 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 139 $ 126 Funds payable and amounts due to customers 41,935 40,014 Accrued expenses and other current liabilities 6,392 4,868 Total current liabilities 48,466 45,008 Other long-term liabilities 2,973 2,925 Long-term debt 9,676 10,417 Total liabilities 61,115 58,350 Commitments and contingencies (Note 13) Equity: Common stock, $0.0001 par value; 4,000 shares authorized; 1,072 and 1,136 shares outstanding as of December 31, 2023 and 2022, respectively — — Preferred stock, $0.0001 par value; 100 shares authorized, unissued — — Treasury stock at cost, 245 and 173 shares as of December 31, 2023 and 2022, respectively (21,045) (16,079) Additional paid-in-capital 19,642 18,327 Retained earnings 23,200 18,954 Accumulated other comprehensive income (loss) (746) (928) Total equity 21,051 20,274 Total liabilities and equity $ 82,166 $ 78,624" ]

[ "PayPal Holdings, Inc. CONSOLIDATED BALANCE SHEETS As of December 31, 2023 2022 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 9,081 $ 7,776 Short-term investments 4,979 3,092 Accounts receivable, net 1,069 963 Loans and interest receivable, held for sale 563 — Loans and interest receivable, net of allowances of $540 and $598 as of December 31, 2023 and 2022, respectively 5,433 7,431 Funds receivable and customer accounts 38,935 36,264 Prepaid expenses and other current assets 2,509 1,898 Total current assets 62,569 57,424 Long-term investments 3,273 5,018 Property and equipment, net 1,488 1,730 Goodwill 11,026 11,209 Intangible assets, net 537 788 Other assets 3,273 2,455 Total assets $ 82,166 $ 78,624 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 139 $ 126 Funds payable and amounts due to customers 41,935 40,014 Accrued expenses and other current liabilities 6,392 4,868 Total current liabilities 48,466 45,008 Other long-term liabilities 2,973 2,925 Long-term debt 9,676 10,417 Total liabilities 61,115 58,350 Commitments and contingencies (Note 13) Equity: Common stock, $0.0001 par value; 4,000 shares authorized; 1,072 and 1,136 shares outstanding as of December 31, 2023 and 2022, respectively — — Preferred stock, $0.0001 par value; 100 shares authorized, unissued — — Treasury stock at cost, 245 and 173 shares as of December 31, 2023 and 2022, respectively (21,045) (16,079) Additional paid-in-capital 19,642 18,327 Retained earnings 23,200 18,954 Accumulated other comprehensive income (loss) (746) (928) Total equity 21,051 20,274 Total liabilities and equity $ 82,166 $ 78,624" ]

[ "PayPal Holdings, Inc. CONSOLIDATED BALANCE SHEETS As of December 31, 2023 2022 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 9,081 $ 7,776 Short-term investments 4,979 3,092 Accounts receivable, net 1,069 963 Loans and interest receivable, held for sale 563 — Loans and interest receivable, net of allowances of $540 and $598 as of December 31, 2023 and 2022, respectively 5,433 7,431 Funds receivable and customer accounts 38,935 36,264 Prepaid expenses and other current assets 2,509 1,898 Total current assets 62,569 57,424 Long-term investments 3,273 5,018 Property and equipment, net 1,488 1,730 Goodwill 11,026 11,209 Intangible assets, net 537 788 Other assets 3,273 2,455 Total assets $ 82,166 $ 78,624 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 139 $ 126 Funds payable and amounts due to customers 41,935 40,014 Accrued expenses and other current liabilities 6,392 4,868 Total current liabilities 48,466 45,008 Other long-term liabilities 2,973 2,925 Long-term debt 9,676 10,417 Total liabilities 61,115 58,350 Commitments and contingencies (Note 13) Equity: Common stock, $0.0001 par value; 4,000 shares authorized; 1,072 and 1,136 shares outstanding as of December 31, 2023 and 2022, respectively — — Preferred stock, $0.0001 par value; 100 shares authorized, unissued — — Treasury stock at cost, 245 and 173 shares as of December 31, 2023 and 2022, respectively (21,045) (16,079) Additional paid-in-capital 19,642 18,327 Retained earnings 23,200 18,954 Accumulated other comprehensive income (loss) (746) (928) Total equity 21,051 20,274 Total liabilities and equity $ 82,166 $ 78,624" ]

[ "PayPal Holdings, Inc. CONSOLIDATED BALANCE SHEETS As of December 31, 2023 2022 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 9,081 $ 7,776 Short-term investments 4,979 3,092 Accounts receivable, net 1,069 963 Loans and interest receivable, held for sale 563 — Loans and interest receivable, net of allowances of $540 and $598 as of December 31, 2023 and 2022, respectively 5,433 7,431 Funds receivable and customer accounts 38,935 36,264 Prepaid expenses and other current assets 2,509 1,898 Total current assets 62,569 57,424 Long-term investments 3,273 5,018 Property and equipment, net 1,488 1,730 Goodwill 11,026 11,209 Intangible assets, net 537 788 Other assets 3,273 2,455 Total assets $ 82,166 $ 78,624 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 139 $ 126 Funds payable and amounts due to customers 41,935 40,014 Accrued expenses and other current liabilities 6,392 4,868 Total current liabilities 48,466 45,008 Other long-term liabilities 2,973 2,925 Long-term debt 9,676 10,417 Total liabilities 61,115 58,350 Commitments and contingencies (Note 13) Equity: Common stock, $0.0001 par value; 4,000 shares authorized; 1,072 and 1,136 shares outstanding as of December 31, 2023 and 2022, respectively — — Preferred stock, $0.0001 par value; 100 shares authorized, unissued — — Treasury stock at cost, 245 and 173 shares as of December 31, 2023 and 2022, respectively (21,045) (16,079) Additional paid-in-capital 19,642 18,327 Retained earnings 23,200 18,954 Accumulated other comprehensive income (loss) (746) (928) Total equity 21,051 20,274 Total liabilities and equity $ 82,166 $ 78,624" ]

[ "PayPal Holdings, Inc. CONSOLIDATED BALANCE SHEETS As of December 31, 2023 2022 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 9,081 $ 7,776 Short-term investments 4,979 3,092 Accounts receivable, net 1,069 963 Loans and interest receivable, held for sale 563 — Loans and interest receivable, net of allowances of $540 and $598 as of December 31, 2023 and 2022, respectively 5,433 7,431 Funds receivable and customer accounts 38,935 36,264 Prepaid expenses and other current assets 2,509 1,898 Total current assets 62,569 57,424 Long-term investments 3,273 5,018 Property and equipment, net 1,488 1,730 Goodwill 11,026 11,209 Intangible assets, net 537 788 Other assets 3,273 2,455 Total assets $ 82,166 $ 78,624 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 139 $ 126 Funds payable and amounts due to customers 41,935 40,014 Accrued expenses and other current liabilities 6,392 4,868 Total current liabilities 48,466 45,008 Other long-term liabilities 2,973 2,925 Long-term debt 9,676 10,417 Total liabilities 61,115 58,350 Commitments and contingencies (Note 13) Equity: Common stock, $0.0001 par value; 4,000 shares authorized; 1,072 and 1,136 shares outstanding as of December 31, 2023 and 2022, respectively — — Preferred stock, $0.0001 par value; 100 shares authorized, unissued — — Treasury stock at cost, 245 and 173 shares as of December 31, 2023 and 2022, respectively (21,045) (16,079) Additional paid-in-capital 19,642 18,327 Retained earnings 23,200 18,954 Accumulated other comprehensive income (loss) (746) (928) Total equity 21,051 20,274 Total liabilities and equity $ 82,166 $ 78,624" ]

[ "PayPal Holdings, Inc. CONSOLIDATED BALANCE SHEETS As of December 31, 2023 2022 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 9,081 $ 7,776 Short-term investments 4,979 3,092 Accounts receivable, net 1,069 963 Loans and interest receivable, held for sale 563 — Loans and interest receivable, net of allowances of $540 and $598 as of December 31, 2023 and 2022, respectively 5,433 7,431 Funds receivable and customer accounts 38,935 36,264 Prepaid expenses and other current assets 2,509 1,898 Total current assets 62,569 57,424 Long-term investments 3,273 5,018 Property and equipment, net 1,488 1,730 Goodwill 11,026 11,209 Intangible assets, net 537 788 Other assets 3,273 2,455 Total assets $ 82,166 $ 78,624 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 139 $ 126 Funds payable and amounts due to customers 41,935 40,014 Accrued expenses and other current liabilities 6,392 4,868 Total current liabilities 48,466 45,008 Other long-term liabilities 2,973 2,925 Long-term debt 9,676 10,417 Total liabilities 61,115 58,350 Commitments and contingencies (Note 13) Equity: Common stock, $0.0001 par value; 4,000 shares authorized; 1,072 and 1,136 shares outstanding as of December 31, 2023 and 2022, respectively — — Preferred stock, $0.0001 par value; 100 shares authorized, unissued — — Treasury stock at cost, 245 and 173 shares as of December 31, 2023 and 2022, respectively (21,045) (16,079) Additional paid-in-capital 19,642 18,327 Retained earnings 23,200 18,954 Accumulated other comprehensive income (loss) (746) (928) Total equity 21,051 20,274 Total liabilities and equity $ 82,166 $ 78,624" ]

[ "PayPal Holdings, Inc. CONSOLIDATED BALANCE SHEETS As of December 31, 2023 2022 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 9,081 $ 7,776 Short-term investments 4,979 3,092 Accounts receivable, net 1,069 963 Loans and interest receivable, held for sale 563 — Loans and interest receivable, net of allowances of $540 and $598 as of December 31, 2023 and 2022, respectively 5,433 7,431 Funds receivable and customer accounts 38,935 36,264 Prepaid expenses and other current assets 2,509 1,898 Total current assets 62,569 57,424 Long-term investments 3,273 5,018 Property and equipment, net 1,488 1,730 Goodwill 11,026 11,209 Intangible assets, net 537 788 Other assets 3,273 2,455 Total assets $ 82,166 $ 78,624 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 139 $ 126 Funds payable and amounts due to customers 41,935 40,014 Accrued expenses and other current liabilities 6,392 4,868 Total current liabilities 48,466 45,008 Other long-term liabilities 2,973 2,925 Long-term debt 9,676 10,417 Total liabilities 61,115 58,350 Commitments and contingencies (Note 13) Equity: Common stock, $0.0001 par value; 4,000 shares authorized; 1,072 and 1,136 shares outstanding as of December 31, 2023 and 2022, respectively — — Preferred stock, $0.0001 par value; 100 shares authorized, unissued — — Treasury stock at cost, 245 and 173 shares as of December 31, 2023 and 2022, respectively (21,045) (16,079) Additional paid-in-capital 19,642 18,327 Retained earnings 23,200 18,954 Accumulated other comprehensive income (loss) (746) (928) Total equity 21,051 20,274 Total liabilities and equity $ 82,166 $ 78,624" ]

[ "PayPal Holdings, Inc. CONSOLIDATED BALANCE SHEETS As of December 31, 2023 2022 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 9,081 $ 7,776 Short-term investments 4,979 3,092 Accounts receivable, net 1,069 963 Loans and interest receivable, held for sale 563 — Loans and interest receivable, net of allowances of $540 and $598 as of December 31, 2023 and 2022, respectively 5,433 7,431 Funds receivable and customer accounts 38,935 36,264 Prepaid expenses and other current assets 2,509 1,898 Total current assets 62,569 57,424 Long-term investments 3,273 5,018 Property and equipment, net 1,488 1,730 Goodwill 11,026 11,209 Intangible assets, net 537 788 Other assets 3,273 2,455 Total assets $ 82,166 $ 78,624 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 139 $ 126 Funds payable and amounts due to customers 41,935 40,014 Accrued expenses and other current liabilities 6,392 4,868 Total current liabilities 48,466 45,008 Other long-term liabilities 2,973 2,925 Long-term debt 9,676 10,417 Total liabilities 61,115 58,350 Commitments and contingencies (Note 13) Equity: Common stock, $0.0001 par value; 4,000 shares authorized; 1,072 and 1,136 shares outstanding as of December 31, 2023 and 2022, respectively — — Preferred stock, $0.0001 par value; 100 shares authorized, unissued — — Treasury stock at cost, 245 and 173 shares as of December 31, 2023 and 2022, respectively (21,045) (16,079) Additional paid-in-capital 19,642 18,327 Retained earnings 23,200 18,954 Accumulated other comprehensive income (loss) (746) (928) Total equity 21,051 20,274 Total liabilities and equity $ 82,166 $ 78,624" ]

[ "PayPal Holdings, Inc. CONSOLIDATED BALANCE SHEETS As of December 31, 2023 2022 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 9,081 $ 7,776 Short-term investments 4,979 3,092 Accounts receivable, net 1,069 963 Loans and interest receivable, held for sale 563 — Loans and interest receivable, net of allowances of $540 and $598 as of December 31, 2023 and 2022, respectively 5,433 7,431 Funds receivable and customer accounts 38,935 36,264 Prepaid expenses and other current assets 2,509 1,898 Total current assets 62,569 57,424 Long-term investments 3,273 5,018 Property and equipment, net 1,488 1,730 Goodwill 11,026 11,209 Intangible assets, net 537 788 Other assets 3,273 2,455 Total assets $ 82,166 $ 78,624 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 139 $ 126 Funds payable and amounts due to customers 41,935 40,014 Accrued expenses and other current liabilities 6,392 4,868 Total current liabilities 48,466 45,008 Other long-term liabilities 2,973 2,925 Long-term debt 9,676 10,417 Total liabilities 61,115 58,350 Commitments and contingencies (Note 13) Equity: Common stock, $0.0001 par value; 4,000 shares authorized; 1,072 and 1,136 shares outstanding as of December 31, 2023 and 2022, respectively — — Preferred stock, $0.0001 par value; 100 shares authorized, unissued — — Treasury stock at cost, 245 and 173 shares as of December 31, 2023 and 2022, respectively (21,045) (16,079) Additional paid-in-capital 19,642 18,327 Retained earnings 23,200 18,954 Accumulated other comprehensive income (loss) (746) (928) Total equity 21,051 20,274 Total liabilities and equity $ 82,166 $ 78,624" ]

[ "PayPal Holdings, Inc. CONSOLIDATED BALANCE SHEETS As of December 31, 2023 2022 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents $ 9,081 $ 7,776 Short-term investments 4,979 3,092 Accounts receivable, net 1,069 963 Loans and interest receivable, held for sale 563 — Loans and interest receivable, net of allowances of $540 and $598 as of December 31, 2023 and 2022, respectively 5,433 7,431 Funds receivable and customer accounts 38,935 36,264 Prepaid expenses and other current assets 2,509 1,898 Total current assets 62,569 57,424 Long-term investments 3,273 5,018 Property and equipment, net 1,488 1,730 Goodwill 11,026 11,209 Intangible assets, net 537 788 Other assets 3,273 2,455 Total assets $ 82,166 $ 78,624 LIABILITIES AND EQUITY Current liabilities: Accounts payable $ 139 $ 126 Funds payable and amounts due to customers 41,935 40,014 Accrued expenses and other current liabilities 6,392 4,868 Total current liabilities 48,466 45,008 Other long-term liabilities 2,973 2,925 Long-term debt 9,676 10,417 Total liabilities 61,115 58,350 Commitments and contingencies (Note 13) Equity: Common stock, $0.0001 par value; 4,000 shares authorized; 1,072 and 1,136 shares outstanding as of December 31, 2023 and 2022, respectively — — Preferred stock, $0.0001 par value; 100 shares authorized, unissued — — Treasury stock at cost, 245 and 173 shares as of December 31, 2023 and 2022, respectively (21,045) (16,079) Additional paid-in-capital 19,642 18,327 Retained earnings 23,200 18,954 Accumulated other comprehensive income (loss) (746) (928) Total equity 21,051 20,274 Total liabilities and equity $ 82,166 $ 78,624" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2023 2022 2021 (In millions) Cash flows from operating activities: Net income (loss) $ 4,246 $ 2,419 $ 4,169 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Transaction and credit losses 1,682 1,572 1,060 Depreciation and amortization 1,072 1,317 1,265 Stock-based compensation 1,475 1,261 1,376 Deferred income taxes (668) (811) (482) Net (gains) losses on strategic investments (201) 304 (46) Gain on divestiture of business, excluding transaction costs (356) — — Accretion of discounts on investments, net of amortization of premiums (367) (70) 73 Adjustments to loans and interest receivable, held for sale 53 — — Other (104) 275 27 Originations of loans receivable, held for sale (11,470) — — Proceeds from repayments and sales of loans receivable, originally classified as held for sale 10,795 — — Changes in assets and liabilities: Accounts receivable (114) (163) (222) Transaction loss allowance for cash losses, net (1,188) (1,230) (1,178) Other current assets and non-current assets 203 118 (486) Accounts payable 7 (35) (31) Other current liabilities and non-current liabilities (222) 856 272 Net cash provided by operating activities 4,843 5,813 5,797 Cash flows from investing activities: Purchases of property and equipment (623) (706) (908) Proceeds from sales of property and equipment 45 5 5 Purchases and originations of loans receivable (25,198) (28,170) (13,420) Proceeds from repayments and sales of loans receivable, originally classified as held for investment 26,660 24,903 11,826 Purchases of investments (21,980) (20,219) (40,116) Maturities and sales of investments 24,295 23,411 39,698 Acquisitions, net of cash and restricted cash acquired — — (2,763) Proceeds from divestiture of business, net of cash divested 466 — — Funds receivable (2,943) (2,720) 193 Collateral posted related to derivative instruments, net (56) (19) 336 Other investing activities 86 187 — Net cash provided by (used in) investing activities 752 (3,328) (5,149) Cash flows from financing activities: Proceeds from issuance of common stock 127 143 162 Purchases of treasury stock (5,002) (4,199) (3,373) Tax withholdings related to net share settlements of equity awards (257) (336) (1,036) Borrowings under financing arrangements 1,528 3,475 272 Repayments under financing arrangements (1,053) (1,686) (361) Funds payable and amounts due to customers 1,861 1,405 3,572 Collateral received related to derivative instruments, net (197) (6) 207 Other financing activities — 1 — 64 Table of Contents PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued) Year Ended December 31, 2023 2022 2021 (In millions) Net cash used in financing activities (2,993) (1,203) (557) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 76 (155) (102) Net change in cash, cash equivalents, and restricted cash 2,678 1,127 (11) Cash, cash equivalents, and restricted cash at beginning of period 19,156 18,029 18,040 Cash, cash equivalents, and restricted cash at end of period $ 21,834 $ 19,156 $ 18,029 Supplemental cash flow disclosures: Cash paid for interest $ 331 $ 280 $ 231 Cash paid for income taxes, net $ 2,118 $ 878 $ 474 The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows: Cash and cash equivalents $ 9,081 $ 7,776 $ 5,197 Short-term and long-term investments 3 17 109 Funds receivable and customer accounts 12,750 11,363 12,723 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 21,834 $ 19,156 $ 18,029" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2023 2022 2021 (In millions) Cash flows from operating activities: Net income (loss) $ 4,246 $ 2,419 $ 4,169 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Transaction and credit losses 1,682 1,572 1,060 Depreciation and amortization 1,072 1,317 1,265 Stock-based compensation 1,475 1,261 1,376 Deferred income taxes (668) (811) (482) Net (gains) losses on strategic investments (201) 304 (46) Gain on divestiture of business, excluding transaction costs (356) — — Accretion of discounts on investments, net of amortization of premiums (367) (70) 73 Adjustments to loans and interest receivable, held for sale 53 — — Other (104) 275 27 Originations of loans receivable, held for sale (11,470) — — Proceeds from repayments and sales of loans receivable, originally classified as held for sale 10,795 — — Changes in assets and liabilities: Accounts receivable (114) (163) (222) Transaction loss allowance for cash losses, net (1,188) (1,230) (1,178) Other current assets and non-current assets 203 118 (486) Accounts payable 7 (35) (31) Other current liabilities and non-current liabilities (222) 856 272 Net cash provided by operating activities 4,843 5,813 5,797 Cash flows from investing activities: Purchases of property and equipment (623) (706) (908) Proceeds from sales of property and equipment 45 5 5 Purchases and originations of loans receivable (25,198) (28,170) (13,420) Proceeds from repayments and sales of loans receivable, originally classified as held for investment 26,660 24,903 11,826 Purchases of investments (21,980) (20,219) (40,116) Maturities and sales of investments 24,295 23,411 39,698 Acquisitions, net of cash and restricted cash acquired — — (2,763) Proceeds from divestiture of business, net of cash divested 466 — — Funds receivable (2,943) (2,720) 193 Collateral posted related to derivative instruments, net (56) (19) 336 Other investing activities 86 187 — Net cash provided by (used in) investing activities 752 (3,328) (5,149) Cash flows from financing activities: Proceeds from issuance of common stock 127 143 162 Purchases of treasury stock (5,002) (4,199) (3,373) Tax withholdings related to net share settlements of equity awards (257) (336) (1,036) Borrowings under financing arrangements 1,528 3,475 272 Repayments under financing arrangements (1,053) (1,686) (361) Funds payable and amounts due to customers 1,861 1,405 3,572 Collateral received related to derivative instruments, net (197) (6) 207 Other financing activities — 1 — 64 Table of Contents PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued) Year Ended December 31, 2023 2022 2021 (In millions) Net cash used in financing activities (2,993) (1,203) (557) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 76 (155) (102) Net change in cash, cash equivalents, and restricted cash 2,678 1,127 (11) Cash, cash equivalents, and restricted cash at beginning of period 19,156 18,029 18,040 Cash, cash equivalents, and restricted cash at end of period $ 21,834 $ 19,156 $ 18,029 Supplemental cash flow disclosures: Cash paid for interest $ 331 $ 280 $ 231 Cash paid for income taxes, net $ 2,118 $ 878 $ 474 The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows: Cash and cash equivalents $ 9,081 $ 7,776 $ 5,197 Short-term and long-term investments 3 17 109 Funds receivable and customer accounts 12,750 11,363 12,723 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 21,834 $ 19,156 $ 18,029" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2023 2022 2021 (In millions) Cash flows from operating activities: Net income (loss) $ 4,246 $ 2,419 $ 4,169 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Transaction and credit losses 1,682 1,572 1,060 Depreciation and amortization 1,072 1,317 1,265 Stock-based compensation 1,475 1,261 1,376 Deferred income taxes (668) (811) (482) Net (gains) losses on strategic investments (201) 304 (46) Gain on divestiture of business, excluding transaction costs (356) — — Accretion of discounts on investments, net of amortization of premiums (367) (70) 73 Adjustments to loans and interest receivable, held for sale 53 — — Other (104) 275 27 Originations of loans receivable, held for sale (11,470) — — Proceeds from repayments and sales of loans receivable, originally classified as held for sale 10,795 — — Changes in assets and liabilities: Accounts receivable (114) (163) (222) Transaction loss allowance for cash losses, net (1,188) (1,230) (1,178) Other current assets and non-current assets 203 118 (486) Accounts payable 7 (35) (31) Other current liabilities and non-current liabilities (222) 856 272 Net cash provided by operating activities 4,843 5,813 5,797 Cash flows from investing activities: Purchases of property and equipment (623) (706) (908) Proceeds from sales of property and equipment 45 5 5 Purchases and originations of loans receivable (25,198) (28,170) (13,420) Proceeds from repayments and sales of loans receivable, originally classified as held for investment 26,660 24,903 11,826 Purchases of investments (21,980) (20,219) (40,116) Maturities and sales of investments 24,295 23,411 39,698 Acquisitions, net of cash and restricted cash acquired — — (2,763) Proceeds from divestiture of business, net of cash divested 466 — — Funds receivable (2,943) (2,720) 193 Collateral posted related to derivative instruments, net (56) (19) 336 Other investing activities 86 187 — Net cash provided by (used in) investing activities 752 (3,328) (5,149) Cash flows from financing activities: Proceeds from issuance of common stock 127 143 162 Purchases of treasury stock (5,002) (4,199) (3,373) Tax withholdings related to net share settlements of equity awards (257) (336) (1,036) Borrowings under financing arrangements 1,528 3,475 272 Repayments under financing arrangements (1,053) (1,686) (361) Funds payable and amounts due to customers 1,861 1,405 3,572 Collateral received related to derivative instruments, net (197) (6) 207 Other financing activities — 1 — 64 Table of Contents PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued) Year Ended December 31, 2023 2022 2021 (In millions) Net cash used in financing activities (2,993) (1,203) (557) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 76 (155) (102) Net change in cash, cash equivalents, and restricted cash 2,678 1,127 (11) Cash, cash equivalents, and restricted cash at beginning of period 19,156 18,029 18,040 Cash, cash equivalents, and restricted cash at end of period $ 21,834 $ 19,156 $ 18,029 Supplemental cash flow disclosures: Cash paid for interest $ 331 $ 280 $ 231 Cash paid for income taxes, net $ 2,118 $ 878 $ 474 The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows: Cash and cash equivalents $ 9,081 $ 7,776 $ 5,197 Short-term and long-term investments 3 17 109 Funds receivable and customer accounts 12,750 11,363 12,723 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 21,834 $ 19,156 $ 18,029" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2023 2022 2021 (In millions) Cash flows from operating activities: Net income (loss) $ 4,246 $ 2,419 $ 4,169 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Transaction and credit losses 1,682 1,572 1,060 Depreciation and amortization 1,072 1,317 1,265 Stock-based compensation 1,475 1,261 1,376 Deferred income taxes (668) (811) (482) Net (gains) losses on strategic investments (201) 304 (46) Gain on divestiture of business, excluding transaction costs (356) — — Accretion of discounts on investments, net of amortization of premiums (367) (70) 73 Adjustments to loans and interest receivable, held for sale 53 — — Other (104) 275 27 Originations of loans receivable, held for sale (11,470) — — Proceeds from repayments and sales of loans receivable, originally classified as held for sale 10,795 — — Changes in assets and liabilities: Accounts receivable (114) (163) (222) Transaction loss allowance for cash losses, net (1,188) (1,230) (1,178) Other current assets and non-current assets 203 118 (486) Accounts payable 7 (35) (31) Other current liabilities and non-current liabilities (222) 856 272 Net cash provided by operating activities 4,843 5,813 5,797 Cash flows from investing activities: Purchases of property and equipment (623) (706) (908) Proceeds from sales of property and equipment 45 5 5 Purchases and originations of loans receivable (25,198) (28,170) (13,420) Proceeds from repayments and sales of loans receivable, originally classified as held for investment 26,660 24,903 11,826 Purchases of investments (21,980) (20,219) (40,116) Maturities and sales of investments 24,295 23,411 39,698 Acquisitions, net of cash and restricted cash acquired — — (2,763) Proceeds from divestiture of business, net of cash divested 466 — — Funds receivable (2,943) (2,720) 193 Collateral posted related to derivative instruments, net (56) (19) 336 Other investing activities 86 187 — Net cash provided by (used in) investing activities 752 (3,328) (5,149) Cash flows from financing activities: Proceeds from issuance of common stock 127 143 162 Purchases of treasury stock (5,002) (4,199) (3,373) Tax withholdings related to net share settlements of equity awards (257) (336) (1,036) Borrowings under financing arrangements 1,528 3,475 272 Repayments under financing arrangements (1,053) (1,686) (361) Funds payable and amounts due to customers 1,861 1,405 3,572 Collateral received related to derivative instruments, net (197) (6) 207 Other financing activities — 1 — 64 Table of Contents PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued) Year Ended December 31, 2023 2022 2021 (In millions) Net cash used in financing activities (2,993) (1,203) (557) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 76 (155) (102) Net change in cash, cash equivalents, and restricted cash 2,678 1,127 (11) Cash, cash equivalents, and restricted cash at beginning of period 19,156 18,029 18,040 Cash, cash equivalents, and restricted cash at end of period $ 21,834 $ 19,156 $ 18,029 Supplemental cash flow disclosures: Cash paid for interest $ 331 $ 280 $ 231 Cash paid for income taxes, net $ 2,118 $ 878 $ 474 The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows: Cash and cash equivalents $ 9,081 $ 7,776 $ 5,197 Short-term and long-term investments 3 17 109 Funds receivable and customer accounts 12,750 11,363 12,723 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 21,834 $ 19,156 $ 18,029" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2023 2022 2021 (In millions) Cash flows from operating activities: Net income (loss) $ 4,246 $ 2,419 $ 4,169 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Transaction and credit losses 1,682 1,572 1,060 Depreciation and amortization 1,072 1,317 1,265 Stock-based compensation 1,475 1,261 1,376 Deferred income taxes (668) (811) (482) Net (gains) losses on strategic investments (201) 304 (46) Gain on divestiture of business, excluding transaction costs (356) — — Accretion of discounts on investments, net of amortization of premiums (367) (70) 73 Adjustments to loans and interest receivable, held for sale 53 — — Other (104) 275 27 Originations of loans receivable, held for sale (11,470) — — Proceeds from repayments and sales of loans receivable, originally classified as held for sale 10,795 — — Changes in assets and liabilities: Accounts receivable (114) (163) (222) Transaction loss allowance for cash losses, net (1,188) (1,230) (1,178) Other current assets and non-current assets 203 118 (486) Accounts payable 7 (35) (31) Other current liabilities and non-current liabilities (222) 856 272 Net cash provided by operating activities 4,843 5,813 5,797 Cash flows from investing activities: Purchases of property and equipment (623) (706) (908) Proceeds from sales of property and equipment 45 5 5 Purchases and originations of loans receivable (25,198) (28,170) (13,420) Proceeds from repayments and sales of loans receivable, originally classified as held for investment 26,660 24,903 11,826 Purchases of investments (21,980) (20,219) (40,116) Maturities and sales of investments 24,295 23,411 39,698 Acquisitions, net of cash and restricted cash acquired — — (2,763) Proceeds from divestiture of business, net of cash divested 466 — — Funds receivable (2,943) (2,720) 193 Collateral posted related to derivative instruments, net (56) (19) 336 Other investing activities 86 187 — Net cash provided by (used in) investing activities 752 (3,328) (5,149) Cash flows from financing activities: Proceeds from issuance of common stock 127 143 162 Purchases of treasury stock (5,002) (4,199) (3,373) Tax withholdings related to net share settlements of equity awards (257) (336) (1,036) Borrowings under financing arrangements 1,528 3,475 272 Repayments under financing arrangements (1,053) (1,686) (361) Funds payable and amounts due to customers 1,861 1,405 3,572 Collateral received related to derivative instruments, net (197) (6) 207 Other financing activities — 1 — 64 Table of Contents PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued) Year Ended December 31, 2023 2022 2021 (In millions) Net cash used in financing activities (2,993) (1,203) (557) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 76 (155) (102) Net change in cash, cash equivalents, and restricted cash 2,678 1,127 (11) Cash, cash equivalents, and restricted cash at beginning of period 19,156 18,029 18,040 Cash, cash equivalents, and restricted cash at end of period $ 21,834 $ 19,156 $ 18,029 Supplemental cash flow disclosures: Cash paid for interest $ 331 $ 280 $ 231 Cash paid for income taxes, net $ 2,118 $ 878 $ 474 The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows: Cash and cash equivalents $ 9,081 $ 7,776 $ 5,197 Short-term and long-term investments 3 17 109 Funds receivable and customer accounts 12,750 11,363 12,723 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 21,834 $ 19,156 $ 18,029" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2023 2022 2021 (In millions) Cash flows from operating activities: Net income (loss) $ 4,246 $ 2,419 $ 4,169 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Transaction and credit losses 1,682 1,572 1,060 Depreciation and amortization 1,072 1,317 1,265 Stock-based compensation 1,475 1,261 1,376 Deferred income taxes (668) (811) (482) Net (gains) losses on strategic investments (201) 304 (46) Gain on divestiture of business, excluding transaction costs (356) — — Accretion of discounts on investments, net of amortization of premiums (367) (70) 73 Adjustments to loans and interest receivable, held for sale 53 — — Other (104) 275 27 Originations of loans receivable, held for sale (11,470) — — Proceeds from repayments and sales of loans receivable, originally classified as held for sale 10,795 — — Changes in assets and liabilities: Accounts receivable (114) (163) (222) Transaction loss allowance for cash losses, net (1,188) (1,230) (1,178) Other current assets and non-current assets 203 118 (486) Accounts payable 7 (35) (31) Other current liabilities and non-current liabilities (222) 856 272 Net cash provided by operating activities 4,843 5,813 5,797 Cash flows from investing activities: Purchases of property and equipment (623) (706) (908) Proceeds from sales of property and equipment 45 5 5 Purchases and originations of loans receivable (25,198) (28,170) (13,420) Proceeds from repayments and sales of loans receivable, originally classified as held for investment 26,660 24,903 11,826 Purchases of investments (21,980) (20,219) (40,116) Maturities and sales of investments 24,295 23,411 39,698 Acquisitions, net of cash and restricted cash acquired — — (2,763) Proceeds from divestiture of business, net of cash divested 466 — — Funds receivable (2,943) (2,720) 193 Collateral posted related to derivative instruments, net (56) (19) 336 Other investing activities 86 187 — Net cash provided by (used in) investing activities 752 (3,328) (5,149) Cash flows from financing activities: Proceeds from issuance of common stock 127 143 162 Purchases of treasury stock (5,002) (4,199) (3,373) Tax withholdings related to net share settlements of equity awards (257) (336) (1,036) Borrowings under financing arrangements 1,528 3,475 272 Repayments under financing arrangements (1,053) (1,686) (361) Funds payable and amounts due to customers 1,861 1,405 3,572 Collateral received related to derivative instruments, net (197) (6) 207 Other financing activities — 1 — 64 Table of Contents PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued) Year Ended December 31, 2023 2022 2021 (In millions) Net cash used in financing activities (2,993) (1,203) (557) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 76 (155) (102) Net change in cash, cash equivalents, and restricted cash 2,678 1,127 (11) Cash, cash equivalents, and restricted cash at beginning of period 19,156 18,029 18,040 Cash, cash equivalents, and restricted cash at end of period $ 21,834 $ 19,156 $ 18,029 Supplemental cash flow disclosures: Cash paid for interest $ 331 $ 280 $ 231 Cash paid for income taxes, net $ 2,118 $ 878 $ 474 The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows: Cash and cash equivalents $ 9,081 $ 7,776 $ 5,197 Short-term and long-term investments 3 17 109 Funds receivable and customer accounts 12,750 11,363 12,723 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 21,834 $ 19,156 $ 18,029" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2023 2022 2021 (In millions) Cash flows from operating activities: Net income (loss) $ 4,246 $ 2,419 $ 4,169 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Transaction and credit losses 1,682 1,572 1,060 Depreciation and amortization 1,072 1,317 1,265 Stock-based compensation 1,475 1,261 1,376 Deferred income taxes (668) (811) (482) Net (gains) losses on strategic investments (201) 304 (46) Gain on divestiture of business, excluding transaction costs (356) — — Accretion of discounts on investments, net of amortization of premiums (367) (70) 73 Adjustments to loans and interest receivable, held for sale 53 — — Other (104) 275 27 Originations of loans receivable, held for sale (11,470) — — Proceeds from repayments and sales of loans receivable, originally classified as held for sale 10,795 — — Changes in assets and liabilities: Accounts receivable (114) (163) (222) Transaction loss allowance for cash losses, net (1,188) (1,230) (1,178) Other current assets and non-current assets 203 118 (486) Accounts payable 7 (35) (31) Other current liabilities and non-current liabilities (222) 856 272 Net cash provided by operating activities 4,843 5,813 5,797 Cash flows from investing activities: Purchases of property and equipment (623) (706) (908) Proceeds from sales of property and equipment 45 5 5 Purchases and originations of loans receivable (25,198) (28,170) (13,420) Proceeds from repayments and sales of loans receivable, originally classified as held for investment 26,660 24,903 11,826 Purchases of investments (21,980) (20,219) (40,116) Maturities and sales of investments 24,295 23,411 39,698 Acquisitions, net of cash and restricted cash acquired — — (2,763) Proceeds from divestiture of business, net of cash divested 466 — — Funds receivable (2,943) (2,720) 193 Collateral posted related to derivative instruments, net (56) (19) 336 Other investing activities 86 187 — Net cash provided by (used in) investing activities 752 (3,328) (5,149) Cash flows from financing activities: Proceeds from issuance of common stock 127 143 162 Purchases of treasury stock (5,002) (4,199) (3,373) Tax withholdings related to net share settlements of equity awards (257) (336) (1,036) Borrowings under financing arrangements 1,528 3,475 272 Repayments under financing arrangements (1,053) (1,686) (361) Funds payable and amounts due to customers 1,861 1,405 3,572 Collateral received related to derivative instruments, net (197) (6) 207 Other financing activities — 1 — 64 Table of Contents PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued) Year Ended December 31, 2023 2022 2021 (In millions) Net cash used in financing activities (2,993) (1,203) (557) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 76 (155) (102) Net change in cash, cash equivalents, and restricted cash 2,678 1,127 (11) Cash, cash equivalents, and restricted cash at beginning of period 19,156 18,029 18,040 Cash, cash equivalents, and restricted cash at end of period $ 21,834 $ 19,156 $ 18,029 Supplemental cash flow disclosures: Cash paid for interest $ 331 $ 280 $ 231 Cash paid for income taxes, net $ 2,118 $ 878 $ 474 The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows: Cash and cash equivalents $ 9,081 $ 7,776 $ 5,197 Short-term and long-term investments 3 17 109 Funds receivable and customer accounts 12,750 11,363 12,723 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 21,834 $ 19,156 $ 18,029" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2023 2022 2021 (In millions) Cash flows from operating activities: Net income (loss) $ 4,246 $ 2,419 $ 4,169 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Transaction and credit losses 1,682 1,572 1,060 Depreciation and amortization 1,072 1,317 1,265 Stock-based compensation 1,475 1,261 1,376 Deferred income taxes (668) (811) (482) Net (gains) losses on strategic investments (201) 304 (46) Gain on divestiture of business, excluding transaction costs (356) — — Accretion of discounts on investments, net of amortization of premiums (367) (70) 73 Adjustments to loans and interest receivable, held for sale 53 — — Other (104) 275 27 Originations of loans receivable, held for sale (11,470) — — Proceeds from repayments and sales of loans receivable, originally classified as held for sale 10,795 — — Changes in assets and liabilities: Accounts receivable (114) (163) (222) Transaction loss allowance for cash losses, net (1,188) (1,230) (1,178) Other current assets and non-current assets 203 118 (486) Accounts payable 7 (35) (31) Other current liabilities and non-current liabilities (222) 856 272 Net cash provided by operating activities 4,843 5,813 5,797 Cash flows from investing activities: Purchases of property and equipment (623) (706) (908) Proceeds from sales of property and equipment 45 5 5 Purchases and originations of loans receivable (25,198) (28,170) (13,420) Proceeds from repayments and sales of loans receivable, originally classified as held for investment 26,660 24,903 11,826 Purchases of investments (21,980) (20,219) (40,116) Maturities and sales of investments 24,295 23,411 39,698 Acquisitions, net of cash and restricted cash acquired — — (2,763) Proceeds from divestiture of business, net of cash divested 466 — — Funds receivable (2,943) (2,720) 193 Collateral posted related to derivative instruments, net (56) (19) 336 Other investing activities 86 187 — Net cash provided by (used in) investing activities 752 (3,328) (5,149) Cash flows from financing activities: Proceeds from issuance of common stock 127 143 162 Purchases of treasury stock (5,002) (4,199) (3,373) Tax withholdings related to net share settlements of equity awards (257) (336) (1,036) Borrowings under financing arrangements 1,528 3,475 272 Repayments under financing arrangements (1,053) (1,686) (361) Funds payable and amounts due to customers 1,861 1,405 3,572 Collateral received related to derivative instruments, net (197) (6) 207 Other financing activities — 1 — 64 Table of Contents PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued) Year Ended December 31, 2023 2022 2021 (In millions) Net cash used in financing activities (2,993) (1,203) (557) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 76 (155) (102) Net change in cash, cash equivalents, and restricted cash 2,678 1,127 (11) Cash, cash equivalents, and restricted cash at beginning of period 19,156 18,029 18,040 Cash, cash equivalents, and restricted cash at end of period $ 21,834 $ 19,156 $ 18,029 Supplemental cash flow disclosures: Cash paid for interest $ 331 $ 280 $ 231 Cash paid for income taxes, net $ 2,118 $ 878 $ 474 The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows: Cash and cash equivalents $ 9,081 $ 7,776 $ 5,197 Short-term and long-term investments 3 17 109 Funds receivable and customer accounts 12,750 11,363 12,723 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 21,834 $ 19,156 $ 18,029" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended December 31, 2023 2022 2021 (In millions) Cash flows from operating activities: Net income (loss) $ 4,246 $ 2,419 $ 4,169 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Transaction and credit losses 1,682 1,572 1,060 Depreciation and amortization 1,072 1,317 1,265 Stock-based compensation 1,475 1,261 1,376 Deferred income taxes (668) (811) (482) Net (gains) losses on strategic investments (201) 304 (46) Gain on divestiture of business, excluding transaction costs (356) — — Accretion of discounts on investments, net of amortization of premiums (367) (70) 73 Adjustments to loans and interest receivable, held for sale 53 — — Other (104) 275 27 Originations of loans receivable, held for sale (11,470) — — Proceeds from repayments and sales of loans receivable, originally classified as held for sale 10,795 — — Changes in assets and liabilities: Accounts receivable (114) (163) (222) Transaction loss allowance for cash losses, net (1,188) (1,230) (1,178) Other current assets and non-current assets 203 118 (486) Accounts payable 7 (35) (31) Other current liabilities and non-current liabilities (222) 856 272 Net cash provided by operating activities 4,843 5,813 5,797 Cash flows from investing activities: Purchases of property and equipment (623) (706) (908) Proceeds from sales of property and equipment 45 5 5 Purchases and originations of loans receivable (25,198) (28,170) (13,420) Proceeds from repayments and sales of loans receivable, originally classified as held for investment 26,660 24,903 11,826 Purchases of investments (21,980) (20,219) (40,116) Maturities and sales of investments 24,295 23,411 39,698 Acquisitions, net of cash and restricted cash acquired — — (2,763) Proceeds from divestiture of business, net of cash divested 466 — — Funds receivable (2,943) (2,720) 193 Collateral posted related to derivative instruments, net (56) (19) 336 Other investing activities 86 187 — Net cash provided by (used in) investing activities 752 (3,328) (5,149) Cash flows from financing activities: Proceeds from issuance of common stock 127 143 162 Purchases of treasury stock (5,002) (4,199) (3,373) Tax withholdings related to net share settlements of equity awards (257) (336) (1,036) Borrowings under financing arrangements 1,528 3,475 272 Repayments under financing arrangements (1,053) (1,686) (361) Funds payable and amounts due to customers 1,861 1,405 3,572 Collateral received related to derivative instruments, net (197) (6) 207 Other financing activities — 1 — 64 Table of Contents PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS—(Continued) Year Ended December 31, 2023 2022 2021 (In millions) Net cash used in financing activities (2,993) (1,203) (557) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 76 (155) (102) Net change in cash, cash equivalents, and restricted cash 2,678 1,127 (11) Cash, cash equivalents, and restricted cash at beginning of period 19,156 18,029 18,040 Cash, cash equivalents, and restricted cash at end of period $ 21,834 $ 19,156 $ 18,029 Supplemental cash flow disclosures: Cash paid for interest $ 331 $ 280 $ 231 Cash paid for income taxes, net $ 2,118 $ 878 $ 474 The table below reconciles cash, cash equivalents, and restricted cash as reported in the consolidated balance sheets to the total of the same amounts shown in the consolidated statements of cash flows: Cash and cash equivalents $ 9,081 $ 7,776 $ 5,197 Short-term and long-term investments 3 17 109 Funds receivable and customer accounts 12,750 11,363 12,723 Total cash, cash equivalents, and restricted cash shown in the consolidated statements of cash flows $ 21,834 $ 19,156 $ 18,029" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Other comprehensive income (loss), net of reclassification adjustments: Foreign currency translation adjustments (“CTA”) (156) (305) (72) Net investment hedges CTA gains (losses), net 192 (25) — Tax (expense) benefit on net investment hedges CTA gains (losses), net (44) 6 — Unrealized (losses) gains on cash flow hedges, net (167) (88) 522 Tax benefit (expense) on unrealized (losses) gains on cash flow hedges, net 8 4 (26) Unrealized gains (losses) on available-for-sale debt securities, net 457 (504) (98) Tax (expense) benefit on unrealized gains (losses) on available-for-sale debt securities, net (108) 120 22 Other comprehensive income (loss), net of tax 182 (792) 348 Comprehensive income (loss) $ 4,428 $ 1,627 $ 4,517" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions, except for per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 Operating expenses: Transaction expense 14,385 12,173 10,315 Transaction and credit losses 1,682 1,572 1,060 Customer support and operations 1,919 2,120 2,075 Sales and marketing 1,809 2,257 2,445 Technology and development 2,973 3,253 3,038 General and administrative 2,059 2,099 2,114 Restructuring and other (84) 207 62 Total operating expenses 24,743 23,681 21,109 Operating income 5,028 3,837 4,262 Other income (expense), net 383 (471) (163) Income before income taxes 5,411 3,366 4,099 Income tax expense (benefit) 1,165 947 (70) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Net income (loss) per share: Basic $ 3.85 $ 2.10 $ 3.55 Diluted $ 3.84 $ 2.09 $ 3.52 Weighted average shares: Basic 1,103 1,154 1,174 Diluted 1,107 1,158 1,186" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions, except for per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 Operating expenses: Transaction expense 14,385 12,173 10,315 Transaction and credit losses 1,682 1,572 1,060 Customer support and operations 1,919 2,120 2,075 Sales and marketing 1,809 2,257 2,445 Technology and development 2,973 3,253 3,038 General and administrative 2,059 2,099 2,114 Restructuring and other (84) 207 62 Total operating expenses 24,743 23,681 21,109 Operating income 5,028 3,837 4,262 Other income (expense), net 383 (471) (163) Income before income taxes 5,411 3,366 4,099 Income tax expense (benefit) 1,165 947 (70) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Net income (loss) per share: Basic $ 3.85 $ 2.10 $ 3.55 Diluted $ 3.84 $ 2.09 $ 3.52 Weighted average shares: Basic 1,103 1,154 1,174 Diluted 1,107 1,158 1,186" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions, except for per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 Operating expenses: Transaction expense 14,385 12,173 10,315 Transaction and credit losses 1,682 1,572 1,060 Customer support and operations 1,919 2,120 2,075 Sales and marketing 1,809 2,257 2,445 Technology and development 2,973 3,253 3,038 General and administrative 2,059 2,099 2,114 Restructuring and other (84) 207 62 Total operating expenses 24,743 23,681 21,109 Operating income 5,028 3,837 4,262 Other income (expense), net 383 (471) (163) Income before income taxes 5,411 3,366 4,099 Income tax expense (benefit) 1,165 947 (70) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Net income (loss) per share: Basic $ 3.85 $ 2.10 $ 3.55 Diluted $ 3.84 $ 2.09 $ 3.52 Weighted average shares: Basic 1,103 1,154 1,174 Diluted 1,107 1,158 1,186" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions, except for per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 Operating expenses: Transaction expense 14,385 12,173 10,315 Transaction and credit losses 1,682 1,572 1,060 Customer support and operations 1,919 2,120 2,075 Sales and marketing 1,809 2,257 2,445 Technology and development 2,973 3,253 3,038 General and administrative 2,059 2,099 2,114 Restructuring and other (84) 207 62 Total operating expenses 24,743 23,681 21,109 Operating income 5,028 3,837 4,262 Other income (expense), net 383 (471) (163) Income before income taxes 5,411 3,366 4,099 Income tax expense (benefit) 1,165 947 (70) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Net income (loss) per share: Basic $ 3.85 $ 2.10 $ 3.55 Diluted $ 3.84 $ 2.09 $ 3.52 Weighted average shares: Basic 1,103 1,154 1,174 Diluted 1,107 1,158 1,186" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions, except for per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 Operating expenses: Transaction expense 14,385 12,173 10,315 Transaction and credit losses 1,682 1,572 1,060 Customer support and operations 1,919 2,120 2,075 Sales and marketing 1,809 2,257 2,445 Technology and development 2,973 3,253 3,038 General and administrative 2,059 2,099 2,114 Restructuring and other (84) 207 62 Total operating expenses 24,743 23,681 21,109 Operating income 5,028 3,837 4,262 Other income (expense), net 383 (471) (163) Income before income taxes 5,411 3,366 4,099 Income tax expense (benefit) 1,165 947 (70) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Net income (loss) per share: Basic $ 3.85 $ 2.10 $ 3.55 Diluted $ 3.84 $ 2.09 $ 3.52 Weighted average shares: Basic 1,103 1,154 1,174 Diluted 1,107 1,158 1,186" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions, except for per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 Operating expenses: Transaction expense 14,385 12,173 10,315 Transaction and credit losses 1,682 1,572 1,060 Customer support and operations 1,919 2,120 2,075 Sales and marketing 1,809 2,257 2,445 Technology and development 2,973 3,253 3,038 General and administrative 2,059 2,099 2,114 Restructuring and other (84) 207 62 Total operating expenses 24,743 23,681 21,109 Operating income 5,028 3,837 4,262 Other income (expense), net 383 (471) (163) Income before income taxes 5,411 3,366 4,099 Income tax expense (benefit) 1,165 947 (70) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Net income (loss) per share: Basic $ 3.85 $ 2.10 $ 3.55 Diluted $ 3.84 $ 2.09 $ 3.52 Weighted average shares: Basic 1,103 1,154 1,174 Diluted 1,107 1,158 1,186" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions, except for per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 Operating expenses: Transaction expense 14,385 12,173 10,315 Transaction and credit losses 1,682 1,572 1,060 Customer support and operations 1,919 2,120 2,075 Sales and marketing 1,809 2,257 2,445 Technology and development 2,973 3,253 3,038 General and administrative 2,059 2,099 2,114 Restructuring and other (84) 207 62 Total operating expenses 24,743 23,681 21,109 Operating income 5,028 3,837 4,262 Other income (expense), net 383 (471) (163) Income before income taxes 5,411 3,366 4,099 Income tax expense (benefit) 1,165 947 (70) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Net income (loss) per share: Basic $ 3.85 $ 2.10 $ 3.55 Diluted $ 3.84 $ 2.09 $ 3.52 Weighted average shares: Basic 1,103 1,154 1,174 Diluted 1,107 1,158 1,186", "OTHER INCOME (EXPENSE), NET The following table reconciles the components of other income (expense), net for the periods presented below: Year Ended December 31, 2023 2022 2021 (In millions) Interest income $ 480 $ 174 $ 57 Interest expense (347) (304) (232) Net gains (losses) on strategic investments 201 (304) 46 Other 49 (37) (34) Other income (expense), net $ 383 $ (471) $ (163)" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions, except for per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 Operating expenses: Transaction expense 14,385 12,173 10,315 Transaction and credit losses 1,682 1,572 1,060 Customer support and operations 1,919 2,120 2,075 Sales and marketing 1,809 2,257 2,445 Technology and development 2,973 3,253 3,038 General and administrative 2,059 2,099 2,114 Restructuring and other (84) 207 62 Total operating expenses 24,743 23,681 21,109 Operating income 5,028 3,837 4,262 Other income (expense), net 383 (471) (163) Income before income taxes 5,411 3,366 4,099 Income tax expense (benefit) 1,165 947 (70) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Net income (loss) per share: Basic $ 3.85 $ 2.10 $ 3.55 Diluted $ 3.84 $ 2.09 $ 3.52 Weighted average shares: Basic 1,103 1,154 1,174 Diluted 1,107 1,158 1,186" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions, except for per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 Operating expenses: Transaction expense 14,385 12,173 10,315 Transaction and credit losses 1,682 1,572 1,060 Customer support and operations 1,919 2,120 2,075 Sales and marketing 1,809 2,257 2,445 Technology and development 2,973 3,253 3,038 General and administrative 2,059 2,099 2,114 Restructuring and other (84) 207 62 Total operating expenses 24,743 23,681 21,109 Operating income 5,028 3,837 4,262 Other income (expense), net 383 (471) (163) Income before income taxes 5,411 3,366 4,099 Income tax expense (benefit) 1,165 947 (70) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Net income (loss) per share: Basic $ 3.85 $ 2.10 $ 3.55 Diluted $ 3.84 $ 2.09 $ 3.52 Weighted average shares: Basic 1,103 1,154 1,174 Diluted 1,107 1,158 1,186" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions, except for per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 Operating expenses: Transaction expense 14,385 12,173 10,315 Transaction and credit losses 1,682 1,572 1,060 Customer support and operations 1,919 2,120 2,075 Sales and marketing 1,809 2,257 2,445 Technology and development 2,973 3,253 3,038 General and administrative 2,059 2,099 2,114 Restructuring and other (84) 207 62 Total operating expenses 24,743 23,681 21,109 Operating income 5,028 3,837 4,262 Other income (expense), net 383 (471) (163) Income before income taxes 5,411 3,366 4,099 Income tax expense (benefit) 1,165 947 (70) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Net income (loss) per share: Basic $ 3.85 $ 2.10 $ 3.55 Diluted $ 3.84 $ 2.09 $ 3.52 Weighted average shares: Basic 1,103 1,154 1,174 Diluted 1,107 1,158 1,186" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Other comprehensive income (loss), net of reclassification adjustments: Foreign currency translation adjustments (“CTA”) (156) (305) (72) Net investment hedges CTA gains (losses), net 192 (25) — Tax (expense) benefit on net investment hedges CTA gains (losses), net (44) 6 — Unrealized (losses) gains on cash flow hedges, net (167) (88) 522 Tax benefit (expense) on unrealized (losses) gains on cash flow hedges, net 8 4 (26) Unrealized gains (losses) on available-for-sale debt securities, net 457 (504) (98) Tax (expense) benefit on unrealized gains (losses) on available-for-sale debt securities, net (108) 120 22 Other comprehensive income (loss), net of tax 182 (792) 348 Comprehensive income (loss) $ 4,428 $ 1,627 $ 4,517" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY Common Stock Shares Treasury Stock Additional Paid-In Capital Accumulated Other Comprehensive Income (Loss) Retained Earnings Noncontrolling Interest Total Equity (In millions) Balances at December 31, 2020 1,172 $ (8,507) $ 16,644 $ (484) $ 12,366 $ 44 $ 20,063 Net income — — — — 4,169 — 4,169 Foreign CTA — — — (72) — — (72) Unrealized gains on cash flow hedges, net — — — 522 — — 522 Tax expense on unrealized gains on cash flow hedges, net — — — (26) — — (26) Unrealized losses on available-for-sale debt securities, net — — — (98) — — (98) Tax benefit on unrealized losses on available-for-sale debt securities, net — — — 22 — — 22 Common stock and stock-based awards issued and assumed, net of shares withheld for employee taxes 11 — (881) — — — (881) Common stock repurchased (15) (3,373) — — — — (3,373) Stock-based compensation — — 1,445 — — — 1,445 Change in noncontrolling interest — — — — (44) (44) Balances at December 31, 2021 1,168 $ (11,880) $ 17,208 $ (136) $ 16,535 $ — $ 21,727 Net income — — — — 2,419 — 2,419 Foreign CTA — — — (305) — — (305) Net investment hedge CTA losses, net — — — (25) — — (25) Tax benefit on net investment hedges CTA losses, net — — — 6 — — 6 Unrealized losses on cash flow hedges, net — — — (88) — — (88) Tax benefit on unrealized losses on cash flow hedges, net — — — 4 — — 4 Unrealized losses on available-for-sale debt securities, net — — — (504) — — (504) Tax benefit on unrealized losses on available-for-sale debt securities, net — — — 120 — — 120 Common stock and stock-based awards issued, net of shares withheld for employee taxes 9 — (195) — — — (195) Common stock repurchased (41) (4,199) — — — — (4,199) Stock-based compensation — — 1,313 — — — 1,313 Other — — 1 — — — 1 Balances at December 31, 2022 1,136 $ (16,079) $ 18,327 $ (928) $ 18,954 $ — $ 20,274 Net income — — — — 4,246 — 4,246 Foreign CTA — — — (156) — — (156) Net investment hedge CTA gains, net — — — 192 — — 192 Tax expense on net investment hedges CTA gains, net — — — (44) — — (44) Unrealized losses on cash flow hedges, net — — — (167) — — (167) Tax benefit on unrealized losses on cash flow hedges, net — — — 8 — — 8 Unrealized gains on available-for-sale debt securities, net — — — 457 — — 457 Tax expense on unrealized gains on available-for-sale debt securities, net — — — (108) — — (108) Common stock and stock-based awards issued, net of shares withheld for employee taxes 9 — (130) — — — (130) Common stock repurchased (74) (5,046) — — — — (5,046) Treasury stock reissuance 1 80 — — — — 80 Stock-based compensation — — 1,445 — — — 1,445 Balances at December 31, 2023 1,072 $ (21,045) $ 19,642 $ (746) $ 23,200 $ — $ 21,051" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions, except for per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 Operating expenses: Transaction expense 14,385 12,173 10,315 Transaction and credit losses 1,682 1,572 1,060 Customer support and operations 1,919 2,120 2,075 Sales and marketing 1,809 2,257 2,445 Technology and development 2,973 3,253 3,038 General and administrative 2,059 2,099 2,114 Restructuring and other (84) 207 62 Total operating expenses 24,743 23,681 21,109 Operating income 5,028 3,837 4,262 Other income (expense), net 383 (471) (163) Income before income taxes 5,411 3,366 4,099 Income tax expense (benefit) 1,165 947 (70) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Net income (loss) per share: Basic $ 3.85 $ 2.10 $ 3.55 Diluted $ 3.84 $ 2.09 $ 3.52 Weighted average shares: Basic 1,103 1,154 1,174 Diluted 1,107 1,158 1,186" ]

[ "PayPal Holdings, Inc. CONSOLIDATED STATEMENTS OF INCOME (LOSS) Year Ended December 31, 2023 2022 2021 (In millions, except for per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 Operating expenses: Transaction expense 14,385 12,173 10,315 Transaction and credit losses 1,682 1,572 1,060 Customer support and operations 1,919 2,120 2,075 Sales and marketing 1,809 2,257 2,445 Technology and development 2,973 3,253 3,038 General and administrative 2,059 2,099 2,114 Restructuring and other (84) 207 62 Total operating expenses 24,743 23,681 21,109 Operating income 5,028 3,837 4,262 Other income (expense), net 383 (471) (163) Income before income taxes 5,411 3,366 4,099 Income tax expense (benefit) 1,165 947 (70) Net income (loss) $ 4,246 $ 2,419 $ 4,169 Net income (loss) per share: Basic $ 3.85 $ 2.10 $ 3.55 Diluted $ 3.84 $ 2.09 $ 3.52 Weighted average shares: Basic 1,103 1,154 1,174 Diluted 1,107 1,158 1,186" ]

[ "OVERVIEW OF RESULTS OF OPERATIONS The following table provides a summary of our consolidated financial results for the years ended December 31, 2023, 2022, and 2021: Year Ended December 31, Percent Increase/(Decrease) 2023 2022 2021 2023 2022 (In millions, except percentages and per share amounts) Net revenues $ 29,771 $ 27,518 $ 25,371 8 % 8 % Operating expenses 24,743 23,681 21,109 4 % 12 % Operating income 5,028 3,837 4,262 31 % (10)% Operating margin 17 % 14 % 17 % ** ** Other income (expense), net 383 (471) (163) 181 % 189 % Income tax expense (benefit) 1,165 947 (70) 23 % ** Effective tax rate 22 % 28 % (2)% ** ** Net income (loss) $ 4,246 $ 2,419 $ 4,169 76 % (42)% Net income (loss) per diluted share $ 3.84 $ 2.09 $ 3.52 84 % (41)% Net cash provided by operating activities $ 4,843 $ 5,813 $ 5,797 (17)% — %" ]

[ "IMPACT OF FOREIGN CURRENCY EXCHANGE RATES We have significant international operations that are denominated in foreign currencies, primarily the British pound, Euro, Australian dollar, and Canadian dollar, subjecting us to foreign currency exchange risk which may adversely impact our financial results. The strengthening or weakening of the United States (“U.S.”) dollar versus foreign currencies in which we conduct our international operations impacts the translation of our net revenues and expenses generated in these foreign currencies into the U.S. dollar. In 2023, 2022, and 2021, we generated approximately 42%, 43%, and 46% of our net revenues from customers domiciled outside of the U.S., respectively. Because we generate substantial net revenues internationally, we are subject to the risks of doing business outside of the U.S., including those discussed under “Item 1A. Risk Factors.” We calculate the year-over-year impact of foreign currency exchange movements on our business using prior period foreign currency exchange rates applied to current period transactional currency amounts. While changes in foreign currency exchange rates affect our reported results, we have a foreign currency exchange exposure management program in which we use foreign currency exchange contracts, designated as cash flow hedges, intended to reduce the impact on earnings from foreign currency exchange rate movements. Gains and losses from these foreign currency exchange contracts are recognized as a component of transaction revenues or operating expenses (as applicable) in the same period the forecasted transactions impact earnings. 35 Table of Contents In the years ended December 31, 2023 and 2022, the year-over-year foreign currency exchange rate movements relative to the U.S. dollar had the following impact on our reported results: Year Ended December 31, 2023 2022 (In millions) Favorable (unfavorable) impact to net revenues (exclusive of hedging impact) $ 128 $ (949) Hedging impact 111 462 Favorable (unfavorable) impact to net revenues 239 (487) (Unfavorable) favorable impact to operating expense (29) 492 Net favorable impact to operating income $ 210 $ 5" ]

[ "Future obligations As of December 31, 2023 and 2022, approximately $6.2 billion and $4.9 billion, respectively, of unused credit was available to PayPal Credit account holders in the U.K. While this amount represents the total unused credit available, we have not experienced, and do not anticipate, that all of our PayPal Credit account holders will access their entire available credit at any given point in time. In addition, the individual lines of credit that make up this unused credit are subject to periodic review and termination based on, among other things, account usage and customer creditworthiness. We have certain fixed contractual obligations and commitments that include future estimated payments for general operating purposes. Changes in our business needs, contractual cancellation provisions, fluctuating interest rates, and other factors may result in actual payments differing from our estimates. We cannot provide certainty regarding the timing and amounts of these payments. The following table summarizes our obligations as of December 31, 2023 that are expected to impact liquidity and cash flow in future periods. We believe we will be able to fund these obligations through our existing cash and investment portfolio and cash expected to be generated from operations. Purchase Obligations Operating Leases Transition Tax Long-term Debt Total Payments Due During the Year Ending December 31, (In millions) 2024 $ 936 $ 186 284 $ 1,575 $ 2,981 2025 477 153 354 1,498 2,482 2026 348 139 — 1,689 2,176 2027 — 118 — 732 850 2028 — 87 — 483 570 Thereafter — 174 — 8,996 9,170 $ 1,761 $ 857 $ 638 $ 14,973 $ 18,229" ]

[ "DISAGGREGATION OF REVENUE We determine operating segments based on how our chief operating decision maker (“CODM”) manages the business, makes operating decisions around the allocation of resources, and evaluates operating performance. Our CODM is our Chief Executive Officer, who regularly reviews our operating results on a consolidated basis. We operate as one segment and have one reportable segment. Based on the information provided to and reviewed by our CODM, we believe that the nature, amount, timing, and uncertainty of our revenue and cash flows and how they are affected by economic factors are most appropriately depicted through our primary geographical markets and types of revenue categories (transaction revenues and revenues from other value added services). Revenues recorded within these categories are earned from similar products and services for which the nature of associated fees and the related revenue recognition models are substantially similar. The following table presents our revenue disaggregated by primary geographical market and category: Year Ended December 31, 2023 2022 2021 (In millions) Primary geographical markets U.S. $ 17,253 $ 15,807 $ 13,712 Other countries 12,518 11,711 11,659 Total net revenues $ 29,771 $ 27,518 $ 25,371 Revenue category Transaction revenues $ 26,857 $ 25,206 $ 23,402 Revenues from other value added services 2,914 2,312 1,969 Total net revenues $ 29,771 $ 27,518 $ 25,371" ]

[ "The components of lease expense were as follows: Year Ended December 31, 2023 2022 2021 (In millions) Lease expense Operating lease expense $ 156 $ 171 $ 170 Sublease income (9) (8) (8) Lease expense, net $ 147 $ 163 $ 162" ]

[ "Geographical information The following table summarizes long-lived assets based on geography, which consist of property and equipment, net and operating lease ROU assets: As of December 31, 2023 2022 (In millions) Long-lived assets: U.S. $ 1,629 $ 1,910 Other countries 249 394 Total long-lived assets $ 1,878 $ 2,304" ]

[ "Paidy We completed the acquisition of Paidy in October 2021 by acquiring all outstanding shares for total consideration of approximately $2.7 billion, consisting of approximately $2.6 billion in cash and approximately $161 million in assumed restricted stock and restricted stock units, subject to vesting conditions. Paidy is a two-sided payments platform that primarily provides buy now, pay later solutions (installment credit offerings) in Japan. With the acquisition of Paidy, we expanded our capabilities and relevance in Japan. 79 Table of Contents PayPal Holdings, Inc. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued) The following table summarizes the final allocation of the purchase consideration to the fair value of the assets acquired and liabilities assumed: (In millions) Goodwill $ 1,897 Customer lists and user base 512 Marketing related 83 Developed technology 47 Total intangibles $ 642 Loans and interest receivable, net 197 Cash and cash equivalents 102 Other net assets 87 Short-term and long-term debt (188) Deferred tax liabilities, net (166) Total purchase price $ 2,571" ]

[ "INTANGIBLE ASSETS The components of identifiable intangible assets were as follows: December 31, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Useful Life (Years) (In millions, except years) Intangible assets: Customer lists and user base $ 1,546 $ (1,140) $ 406 7 $ 1,664 $ (1,092) $ 572 7 Marketing related 387 (350) 37 5 395 (339) 56 5 Developed technology 1,013 (999) 14 3 1,099 (1,048) 51 3 All other 433 (353) 80 7 438 (329) 109 7 Intangible assets, net $ 3,379 $ (2,842) $ 537 $ 3,596 $ (2,808) $ 788" ]

[ "Our available-for-sale debt securities included within cash and cash equivalents, funds receivable and customer accounts, short-term investments, and longterm investments classified by date of contractual maturity were as follows: December 31, 2023 Amortized Cost Fair Value (In millions) One year or less $ 14,971 $ 14,862 After one year through five years 5,454 5,426 After five years through ten years 2,178 2,181 After ten years 36 36 Total $ 22,639 $ 22,505" ]

[ "RESTRUCTURING During the first quarter of 2023, management initiated a global workforce reduction intended to focus resources on core strategic priorities and improve our cost structure and operating efficiency. The associated restructuring charges in 2023 were $122 million. We primarily incurred employee severance and benefits costs, which were substantially completed by the fourth quarter of 2023. The following table summarizes the restructuring reserve activity during the year ended December 31, 2023: Employee Severance and Benefits and Other Associated Costs (In millions) Accrued liability as of January 1, 2023 $ 24 Charges 122 Payments (142) Accrued liability as of December 31, 2023 $ 4" ]

[ "INTANGIBLE ASSETS The components of identifiable intangible assets were as follows: December 31, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Useful Life (Years) Gross Carrying Amount Accumulated Amortization Net Carrying Amount Weighted Average Useful Life (Years) (In millions, except years) Intangible assets: Customer lists and user base $ 1,546 $ (1,140) $ 406 7 $ 1,664 $ (1,092) $ 572 7 Marketing related 387 (350) 37 5 395 (339) 56 5 Developed technology 1,013 (999) 14 3 1,099 (1,048) 51 3 All other 433 (353) 80 7 438 (329) 109 7 Intangible assets, net $ 3,379 $ (2,842) $ 537 $ 3,596 $ (2,808) $ 788" ]

[ "DISAGGREGATION OF REVENUE We determine operating segments based on how our chief operating decision maker (“CODM”) manages the business, makes operating decisions around the allocation of resources, and evaluates operating performance. Our CODM is our Chief Executive Officer, who regularly reviews our operating results on a consolidated basis. We operate as one segment and have one reportable segment. Based on the information provided to and reviewed by our CODM, we believe that the nature, amount, timing, and uncertainty of our revenue and cash flows and how they are affected by economic factors are most appropriately depicted through our primary geographical markets and types of revenue categories (transaction revenues and revenues from other value added services). Revenues recorded within these categories are earned from similar products and services for which the nature of associated fees and the related revenue recognition models are substantially similar. The following table presents our revenue disaggregated by primary geographical market and category: Year Ended December 31, 2023 2022 2021 (In millions) Primary geographical markets U.S. $ 17,253 $ 15,807 $ 13,712 Other countries 12,518 11,711 11,659 Total net revenues $ 29,771 $ 27,518 $ 25,371 Revenue category Transaction revenues $ 26,857 $ 25,206 $ 23,402 Revenues from other value added services 2,914 2,312 1,969 Total net revenues $ 29,771 $ 27,518 $ 25,371" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Balance Sheet (in millions, except shares) Dec 31, 2023 Dec 31, 2022 Assets Cash and due from banks $ 33,026 34,596 Interest-earning deposits with banks 204,193 124,561 Federal funds sold and securities purchased under resale agreements 80,456 68,036 Debt securities: Trading, at fair value (includes assets pledged as collateral of $62,537 and $26,932) 97,302 86,155 Available-for-sale, at fair value (amortized cost of $137,155 and $121,725, and includes assets pledged as collateral of $5,055 and $0) 130,448 113,594 Held-to-maturity, at amortized cost (fair value $227,316 and $255,521) 262,708 297,059 Loans held for sale (includes $2,892 and $4,220 carried at fair value) 4,936 7,104 Loans 936,682 955,871 Allowance for loan losses (14,606) (12,985) Net loans 922,076 942,886 Mortgage servicing rights (includes $7,468 and $9,310 carried at fair value) 8,508 10,480 Premises and equipment, net 9,266 8,350 Goodwill 25,175 25,173 Derivative assets 18,223 22,774 Equity securities (includes $19,841 and $28,383 carried at fair value; and assets pledged as collateral of $2,683 and $747) 57,336 64,414 Other assets (1) 78,815 75,838 Total assets (2) $ 1,932,468 1,881,020 Liabilities Noninterest-bearing deposits $ 360,279 458,010 Interest-bearing deposits (includes $1,297 and $0 carried at fair value) 997,894 925,975 Total deposits 1,358,173 1,383,985 Short-term borrowings (includes $219 and $181 carried at fair value) 89,559 51,145 Derivative liabilities (1) 18,495 20,067 Accrued expenses and other liabilities (includes $25,335 and $20,290 carried at fair value) (1) 71,210 68,740 Long-term debt (includes $2,308 and $1,346 carried at fair value) 207,588 174,870 Total liabilities (3) 1,745,025 1,698,807 Equity Wells Fargo stockholders’ equity: Preferred stock – aggregate liquidation preference of $20,216 and $20,216 19,448 19,448 Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares 9,136 9,136 Additional paid-in capital 60,555 60,319 Retained earnings (1) 201,136 187,968 Accumulated other comprehensive loss (1) (11,580) (13,362) Treasury stock, at cost – 1,882,948,892 shares and 1,648,007,022 shares (92,960) (82,853) Unearned ESOP shares — (429) Total Wells Fargo stockholders’ equity 185,735 180,227 Noncontrolling interests 1,708 1,986 Total equity 187,443 182,213 Total liabilities and equity $ 1,932,468 1,881,020" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Balance Sheet (in millions, except shares) Dec 31, 2023 Dec 31, 2022 Assets Cash and due from banks $ 33,026 34,596 Interest-earning deposits with banks 204,193 124,561 Federal funds sold and securities purchased under resale agreements 80,456 68,036 Debt securities: Trading, at fair value (includes assets pledged as collateral of $62,537 and $26,932) 97,302 86,155 Available-for-sale, at fair value (amortized cost of $137,155 and $121,725, and includes assets pledged as collateral of $5,055 and $0) 130,448 113,594 Held-to-maturity, at amortized cost (fair value $227,316 and $255,521) 262,708 297,059 Loans held for sale (includes $2,892 and $4,220 carried at fair value) 4,936 7,104 Loans 936,682 955,871 Allowance for loan losses (14,606) (12,985) Net loans 922,076 942,886 Mortgage servicing rights (includes $7,468 and $9,310 carried at fair value) 8,508 10,480 Premises and equipment, net 9,266 8,350 Goodwill 25,175 25,173 Derivative assets 18,223 22,774 Equity securities (includes $19,841 and $28,383 carried at fair value; and assets pledged as collateral of $2,683 and $747) 57,336 64,414 Other assets (1) 78,815 75,838 Total assets (2) $ 1,932,468 1,881,020 Liabilities Noninterest-bearing deposits $ 360,279 458,010 Interest-bearing deposits (includes $1,297 and $0 carried at fair value) 997,894 925,975 Total deposits 1,358,173 1,383,985 Short-term borrowings (includes $219 and $181 carried at fair value) 89,559 51,145 Derivative liabilities (1) 18,495 20,067 Accrued expenses and other liabilities (includes $25,335 and $20,290 carried at fair value) (1) 71,210 68,740 Long-term debt (includes $2,308 and $1,346 carried at fair value) 207,588 174,870 Total liabilities (3) 1,745,025 1,698,807 Equity Wells Fargo stockholders’ equity: Preferred stock – aggregate liquidation preference of $20,216 and $20,216 19,448 19,448 Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares 9,136 9,136 Additional paid-in capital 60,555 60,319 Retained earnings (1) 201,136 187,968 Accumulated other comprehensive loss (1) (11,580) (13,362) Treasury stock, at cost – 1,882,948,892 shares and 1,648,007,022 shares (92,960) (82,853) Unearned ESOP shares — (429) Total Wells Fargo stockholders’ equity 185,735 180,227 Noncontrolling interests 1,708 1,986 Total equity 187,443 182,213 Total liabilities and equity $ 1,932,468 1,881,020" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Balance Sheet (in millions, except shares) Dec 31, 2023 Dec 31, 2022 Assets Cash and due from banks $ 33,026 34,596 Interest-earning deposits with banks 204,193 124,561 Federal funds sold and securities purchased under resale agreements 80,456 68,036 Debt securities: Trading, at fair value (includes assets pledged as collateral of $62,537 and $26,932) 97,302 86,155 Available-for-sale, at fair value (amortized cost of $137,155 and $121,725, and includes assets pledged as collateral of $5,055 and $0) 130,448 113,594 Held-to-maturity, at amortized cost (fair value $227,316 and $255,521) 262,708 297,059 Loans held for sale (includes $2,892 and $4,220 carried at fair value) 4,936 7,104 Loans 936,682 955,871 Allowance for loan losses (14,606) (12,985) Net loans 922,076 942,886 Mortgage servicing rights (includes $7,468 and $9,310 carried at fair value) 8,508 10,480 Premises and equipment, net 9,266 8,350 Goodwill 25,175 25,173 Derivative assets 18,223 22,774 Equity securities (includes $19,841 and $28,383 carried at fair value; and assets pledged as collateral of $2,683 and $747) 57,336 64,414 Other assets (1) 78,815 75,838 Total assets (2) $ 1,932,468 1,881,020 Liabilities Noninterest-bearing deposits $ 360,279 458,010 Interest-bearing deposits (includes $1,297 and $0 carried at fair value) 997,894 925,975 Total deposits 1,358,173 1,383,985 Short-term borrowings (includes $219 and $181 carried at fair value) 89,559 51,145 Derivative liabilities (1) 18,495 20,067 Accrued expenses and other liabilities (includes $25,335 and $20,290 carried at fair value) (1) 71,210 68,740 Long-term debt (includes $2,308 and $1,346 carried at fair value) 207,588 174,870 Total liabilities (3) 1,745,025 1,698,807 Equity Wells Fargo stockholders’ equity: Preferred stock – aggregate liquidation preference of $20,216 and $20,216 19,448 19,448 Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares 9,136 9,136 Additional paid-in capital 60,555 60,319 Retained earnings (1) 201,136 187,968 Accumulated other comprehensive loss (1) (11,580) (13,362) Treasury stock, at cost – 1,882,948,892 shares and 1,648,007,022 shares (92,960) (82,853) Unearned ESOP shares — (429) Total Wells Fargo stockholders’ equity 185,735 180,227 Noncontrolling interests 1,708 1,986 Total equity 187,443 182,213 Total liabilities and equity $ 1,932,468 1,881,020" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Balance Sheet (in millions, except shares) Dec 31, 2023 Dec 31, 2022 Assets Cash and due from banks $ 33,026 34,596 Interest-earning deposits with banks 204,193 124,561 Federal funds sold and securities purchased under resale agreements 80,456 68,036 Debt securities: Trading, at fair value (includes assets pledged as collateral of $62,537 and $26,932) 97,302 86,155 Available-for-sale, at fair value (amortized cost of $137,155 and $121,725, and includes assets pledged as collateral of $5,055 and $0) 130,448 113,594 Held-to-maturity, at amortized cost (fair value $227,316 and $255,521) 262,708 297,059 Loans held for sale (includes $2,892 and $4,220 carried at fair value) 4,936 7,104 Loans 936,682 955,871 Allowance for loan losses (14,606) (12,985) Net loans 922,076 942,886 Mortgage servicing rights (includes $7,468 and $9,310 carried at fair value) 8,508 10,480 Premises and equipment, net 9,266 8,350 Goodwill 25,175 25,173 Derivative assets 18,223 22,774 Equity securities (includes $19,841 and $28,383 carried at fair value; and assets pledged as collateral of $2,683 and $747) 57,336 64,414 Other assets (1) 78,815 75,838 Total assets (2) $ 1,932,468 1,881,020 Liabilities Noninterest-bearing deposits $ 360,279 458,010 Interest-bearing deposits (includes $1,297 and $0 carried at fair value) 997,894 925,975 Total deposits 1,358,173 1,383,985 Short-term borrowings (includes $219 and $181 carried at fair value) 89,559 51,145 Derivative liabilities (1) 18,495 20,067 Accrued expenses and other liabilities (includes $25,335 and $20,290 carried at fair value) (1) 71,210 68,740 Long-term debt (includes $2,308 and $1,346 carried at fair value) 207,588 174,870 Total liabilities (3) 1,745,025 1,698,807 Equity Wells Fargo stockholders’ equity: Preferred stock – aggregate liquidation preference of $20,216 and $20,216 19,448 19,448 Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares 9,136 9,136 Additional paid-in capital 60,555 60,319 Retained earnings (1) 201,136 187,968 Accumulated other comprehensive loss (1) (11,580) (13,362) Treasury stock, at cost – 1,882,948,892 shares and 1,648,007,022 shares (92,960) (82,853) Unearned ESOP shares — (429) Total Wells Fargo stockholders’ equity 185,735 180,227 Noncontrolling interests 1,708 1,986 Total equity 187,443 182,213 Total liabilities and equity $ 1,932,468 1,881,020" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Balance Sheet (in millions, except shares) Dec 31, 2023 Dec 31, 2022 Assets Cash and due from banks $ 33,026 34,596 Interest-earning deposits with banks 204,193 124,561 Federal funds sold and securities purchased under resale agreements 80,456 68,036 Debt securities: Trading, at fair value (includes assets pledged as collateral of $62,537 and $26,932) 97,302 86,155 Available-for-sale, at fair value (amortized cost of $137,155 and $121,725, and includes assets pledged as collateral of $5,055 and $0) 130,448 113,594 Held-to-maturity, at amortized cost (fair value $227,316 and $255,521) 262,708 297,059 Loans held for sale (includes $2,892 and $4,220 carried at fair value) 4,936 7,104 Loans 936,682 955,871 Allowance for loan losses (14,606) (12,985) Net loans 922,076 942,886 Mortgage servicing rights (includes $7,468 and $9,310 carried at fair value) 8,508 10,480 Premises and equipment, net 9,266 8,350 Goodwill 25,175 25,173 Derivative assets 18,223 22,774 Equity securities (includes $19,841 and $28,383 carried at fair value; and assets pledged as collateral of $2,683 and $747) 57,336 64,414 Other assets (1) 78,815 75,838 Total assets (2) $ 1,932,468 1,881,020 Liabilities Noninterest-bearing deposits $ 360,279 458,010 Interest-bearing deposits (includes $1,297 and $0 carried at fair value) 997,894 925,975 Total deposits 1,358,173 1,383,985 Short-term borrowings (includes $219 and $181 carried at fair value) 89,559 51,145 Derivative liabilities (1) 18,495 20,067 Accrued expenses and other liabilities (includes $25,335 and $20,290 carried at fair value) (1) 71,210 68,740 Long-term debt (includes $2,308 and $1,346 carried at fair value) 207,588 174,870 Total liabilities (3) 1,745,025 1,698,807 Equity Wells Fargo stockholders’ equity: Preferred stock – aggregate liquidation preference of $20,216 and $20,216 19,448 19,448 Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares 9,136 9,136 Additional paid-in capital 60,555 60,319 Retained earnings (1) 201,136 187,968 Accumulated other comprehensive loss (1) (11,580) (13,362) Treasury stock, at cost – 1,882,948,892 shares and 1,648,007,022 shares (92,960) (82,853) Unearned ESOP shares — (429) Total Wells Fargo stockholders’ equity 185,735 180,227 Noncontrolling interests 1,708 1,986 Total equity 187,443 182,213 Total liabilities and equity $ 1,932,468 1,881,020" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Balance Sheet (in millions, except shares) Dec 31, 2023 Dec 31, 2022 Assets Cash and due from banks $ 33,026 34,596 Interest-earning deposits with banks 204,193 124,561 Federal funds sold and securities purchased under resale agreements 80,456 68,036 Debt securities: Trading, at fair value (includes assets pledged as collateral of $62,537 and $26,932) 97,302 86,155 Available-for-sale, at fair value (amortized cost of $137,155 and $121,725, and includes assets pledged as collateral of $5,055 and $0) 130,448 113,594 Held-to-maturity, at amortized cost (fair value $227,316 and $255,521) 262,708 297,059 Loans held for sale (includes $2,892 and $4,220 carried at fair value) 4,936 7,104 Loans 936,682 955,871 Allowance for loan losses (14,606) (12,985) Net loans 922,076 942,886 Mortgage servicing rights (includes $7,468 and $9,310 carried at fair value) 8,508 10,480 Premises and equipment, net 9,266 8,350 Goodwill 25,175 25,173 Derivative assets 18,223 22,774 Equity securities (includes $19,841 and $28,383 carried at fair value; and assets pledged as collateral of $2,683 and $747) 57,336 64,414 Other assets (1) 78,815 75,838 Total assets (2) $ 1,932,468 1,881,020 Liabilities Noninterest-bearing deposits $ 360,279 458,010 Interest-bearing deposits (includes $1,297 and $0 carried at fair value) 997,894 925,975 Total deposits 1,358,173 1,383,985 Short-term borrowings (includes $219 and $181 carried at fair value) 89,559 51,145 Derivative liabilities (1) 18,495 20,067 Accrued expenses and other liabilities (includes $25,335 and $20,290 carried at fair value) (1) 71,210 68,740 Long-term debt (includes $2,308 and $1,346 carried at fair value) 207,588 174,870 Total liabilities (3) 1,745,025 1,698,807 Equity Wells Fargo stockholders’ equity: Preferred stock – aggregate liquidation preference of $20,216 and $20,216 19,448 19,448 Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares 9,136 9,136 Additional paid-in capital 60,555 60,319 Retained earnings (1) 201,136 187,968 Accumulated other comprehensive loss (1) (11,580) (13,362) Treasury stock, at cost – 1,882,948,892 shares and 1,648,007,022 shares (92,960) (82,853) Unearned ESOP shares — (429) Total Wells Fargo stockholders’ equity 185,735 180,227 Noncontrolling interests 1,708 1,986 Total equity 187,443 182,213 Total liabilities and equity $ 1,932,468 1,881,020" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Balance Sheet (in millions, except shares) Dec 31, 2023 Dec 31, 2022 Assets Cash and due from banks $ 33,026 34,596 Interest-earning deposits with banks 204,193 124,561 Federal funds sold and securities purchased under resale agreements 80,456 68,036 Debt securities: Trading, at fair value (includes assets pledged as collateral of $62,537 and $26,932) 97,302 86,155 Available-for-sale, at fair value (amortized cost of $137,155 and $121,725, and includes assets pledged as collateral of $5,055 and $0) 130,448 113,594 Held-to-maturity, at amortized cost (fair value $227,316 and $255,521) 262,708 297,059 Loans held for sale (includes $2,892 and $4,220 carried at fair value) 4,936 7,104 Loans 936,682 955,871 Allowance for loan losses (14,606) (12,985) Net loans 922,076 942,886 Mortgage servicing rights (includes $7,468 and $9,310 carried at fair value) 8,508 10,480 Premises and equipment, net 9,266 8,350 Goodwill 25,175 25,173 Derivative assets 18,223 22,774 Equity securities (includes $19,841 and $28,383 carried at fair value; and assets pledged as collateral of $2,683 and $747) 57,336 64,414 Other assets (1) 78,815 75,838 Total assets (2) $ 1,932,468 1,881,020 Liabilities Noninterest-bearing deposits $ 360,279 458,010 Interest-bearing deposits (includes $1,297 and $0 carried at fair value) 997,894 925,975 Total deposits 1,358,173 1,383,985 Short-term borrowings (includes $219 and $181 carried at fair value) 89,559 51,145 Derivative liabilities (1) 18,495 20,067 Accrued expenses and other liabilities (includes $25,335 and $20,290 carried at fair value) (1) 71,210 68,740 Long-term debt (includes $2,308 and $1,346 carried at fair value) 207,588 174,870 Total liabilities (3) 1,745,025 1,698,807 Equity Wells Fargo stockholders’ equity: Preferred stock – aggregate liquidation preference of $20,216 and $20,216 19,448 19,448 Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares 9,136 9,136 Additional paid-in capital 60,555 60,319 Retained earnings (1) 201,136 187,968 Accumulated other comprehensive loss (1) (11,580) (13,362) Treasury stock, at cost – 1,882,948,892 shares and 1,648,007,022 shares (92,960) (82,853) Unearned ESOP shares — (429) Total Wells Fargo stockholders’ equity 185,735 180,227 Noncontrolling interests 1,708 1,986 Total equity 187,443 182,213 Total liabilities and equity $ 1,932,468 1,881,020" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Balance Sheet (in millions, except shares) Dec 31, 2023 Dec 31, 2022 Assets Cash and due from banks $ 33,026 34,596 Interest-earning deposits with banks 204,193 124,561 Federal funds sold and securities purchased under resale agreements 80,456 68,036 Debt securities: Trading, at fair value (includes assets pledged as collateral of $62,537 and $26,932) 97,302 86,155 Available-for-sale, at fair value (amortized cost of $137,155 and $121,725, and includes assets pledged as collateral of $5,055 and $0) 130,448 113,594 Held-to-maturity, at amortized cost (fair value $227,316 and $255,521) 262,708 297,059 Loans held for sale (includes $2,892 and $4,220 carried at fair value) 4,936 7,104 Loans 936,682 955,871 Allowance for loan losses (14,606) (12,985) Net loans 922,076 942,886 Mortgage servicing rights (includes $7,468 and $9,310 carried at fair value) 8,508 10,480 Premises and equipment, net 9,266 8,350 Goodwill 25,175 25,173 Derivative assets 18,223 22,774 Equity securities (includes $19,841 and $28,383 carried at fair value; and assets pledged as collateral of $2,683 and $747) 57,336 64,414 Other assets (1) 78,815 75,838 Total assets (2) $ 1,932,468 1,881,020 Liabilities Noninterest-bearing deposits $ 360,279 458,010 Interest-bearing deposits (includes $1,297 and $0 carried at fair value) 997,894 925,975 Total deposits 1,358,173 1,383,985 Short-term borrowings (includes $219 and $181 carried at fair value) 89,559 51,145 Derivative liabilities (1) 18,495 20,067 Accrued expenses and other liabilities (includes $25,335 and $20,290 carried at fair value) (1) 71,210 68,740 Long-term debt (includes $2,308 and $1,346 carried at fair value) 207,588 174,870 Total liabilities (3) 1,745,025 1,698,807 Equity Wells Fargo stockholders’ equity: Preferred stock – aggregate liquidation preference of $20,216 and $20,216 19,448 19,448 Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares 9,136 9,136 Additional paid-in capital 60,555 60,319 Retained earnings (1) 201,136 187,968 Accumulated other comprehensive loss (1) (11,580) (13,362) Treasury stock, at cost – 1,882,948,892 shares and 1,648,007,022 shares (92,960) (82,853) Unearned ESOP shares — (429) Total Wells Fargo stockholders’ equity 185,735 180,227 Noncontrolling interests 1,708 1,986 Total equity 187,443 182,213 Total liabilities and equity $ 1,932,468 1,881,020" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Balance Sheet (in millions, except shares) Dec 31, 2023 Dec 31, 2022 Assets Cash and due from banks $ 33,026 34,596 Interest-earning deposits with banks 204,193 124,561 Federal funds sold and securities purchased under resale agreements 80,456 68,036 Debt securities: Trading, at fair value (includes assets pledged as collateral of $62,537 and $26,932) 97,302 86,155 Available-for-sale, at fair value (amortized cost of $137,155 and $121,725, and includes assets pledged as collateral of $5,055 and $0) 130,448 113,594 Held-to-maturity, at amortized cost (fair value $227,316 and $255,521) 262,708 297,059 Loans held for sale (includes $2,892 and $4,220 carried at fair value) 4,936 7,104 Loans 936,682 955,871 Allowance for loan losses (14,606) (12,985) Net loans 922,076 942,886 Mortgage servicing rights (includes $7,468 and $9,310 carried at fair value) 8,508 10,480 Premises and equipment, net 9,266 8,350 Goodwill 25,175 25,173 Derivative assets 18,223 22,774 Equity securities (includes $19,841 and $28,383 carried at fair value; and assets pledged as collateral of $2,683 and $747) 57,336 64,414 Other assets (1) 78,815 75,838 Total assets (2) $ 1,932,468 1,881,020 Liabilities Noninterest-bearing deposits $ 360,279 458,010 Interest-bearing deposits (includes $1,297 and $0 carried at fair value) 997,894 925,975 Total deposits 1,358,173 1,383,985 Short-term borrowings (includes $219 and $181 carried at fair value) 89,559 51,145 Derivative liabilities (1) 18,495 20,067 Accrued expenses and other liabilities (includes $25,335 and $20,290 carried at fair value) (1) 71,210 68,740 Long-term debt (includes $2,308 and $1,346 carried at fair value) 207,588 174,870 Total liabilities (3) 1,745,025 1,698,807 Equity Wells Fargo stockholders’ equity: Preferred stock – aggregate liquidation preference of $20,216 and $20,216 19,448 19,448 Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares 9,136 9,136 Additional paid-in capital 60,555 60,319 Retained earnings (1) 201,136 187,968 Accumulated other comprehensive loss (1) (11,580) (13,362) Treasury stock, at cost – 1,882,948,892 shares and 1,648,007,022 shares (92,960) (82,853) Unearned ESOP shares — (429) Total Wells Fargo stockholders’ equity 185,735 180,227 Noncontrolling interests 1,708 1,986 Total equity 187,443 182,213 Total liabilities and equity $ 1,932,468 1,881,020" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Balance Sheet (in millions, except shares) Dec 31, 2023 Dec 31, 2022 Assets Cash and due from banks $ 33,026 34,596 Interest-earning deposits with banks 204,193 124,561 Federal funds sold and securities purchased under resale agreements 80,456 68,036 Debt securities: Trading, at fair value (includes assets pledged as collateral of $62,537 and $26,932) 97,302 86,155 Available-for-sale, at fair value (amortized cost of $137,155 and $121,725, and includes assets pledged as collateral of $5,055 and $0) 130,448 113,594 Held-to-maturity, at amortized cost (fair value $227,316 and $255,521) 262,708 297,059 Loans held for sale (includes $2,892 and $4,220 carried at fair value) 4,936 7,104 Loans 936,682 955,871 Allowance for loan losses (14,606) (12,985) Net loans 922,076 942,886 Mortgage servicing rights (includes $7,468 and $9,310 carried at fair value) 8,508 10,480 Premises and equipment, net 9,266 8,350 Goodwill 25,175 25,173 Derivative assets 18,223 22,774 Equity securities (includes $19,841 and $28,383 carried at fair value; and assets pledged as collateral of $2,683 and $747) 57,336 64,414 Other assets (1) 78,815 75,838 Total assets (2) $ 1,932,468 1,881,020 Liabilities Noninterest-bearing deposits $ 360,279 458,010 Interest-bearing deposits (includes $1,297 and $0 carried at fair value) 997,894 925,975 Total deposits 1,358,173 1,383,985 Short-term borrowings (includes $219 and $181 carried at fair value) 89,559 51,145 Derivative liabilities (1) 18,495 20,067 Accrued expenses and other liabilities (includes $25,335 and $20,290 carried at fair value) (1) 71,210 68,740 Long-term debt (includes $2,308 and $1,346 carried at fair value) 207,588 174,870 Total liabilities (3) 1,745,025 1,698,807 Equity Wells Fargo stockholders’ equity: Preferred stock – aggregate liquidation preference of $20,216 and $20,216 19,448 19,448 Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares 9,136 9,136 Additional paid-in capital 60,555 60,319 Retained earnings (1) 201,136 187,968 Accumulated other comprehensive loss (1) (11,580) (13,362) Treasury stock, at cost – 1,882,948,892 shares and 1,648,007,022 shares (92,960) (82,853) Unearned ESOP shares — (429) Total Wells Fargo stockholders’ equity 185,735 180,227 Noncontrolling interests 1,708 1,986 Total equity 187,443 182,213 Total liabilities and equity $ 1,932,468 1,881,020" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Balance Sheet (in millions, except shares) Dec 31, 2023 Dec 31, 2022 Assets Cash and due from banks $ 33,026 34,596 Interest-earning deposits with banks 204,193 124,561 Federal funds sold and securities purchased under resale agreements 80,456 68,036 Debt securities: Trading, at fair value (includes assets pledged as collateral of $62,537 and $26,932) 97,302 86,155 Available-for-sale, at fair value (amortized cost of $137,155 and $121,725, and includes assets pledged as collateral of $5,055 and $0) 130,448 113,594 Held-to-maturity, at amortized cost (fair value $227,316 and $255,521) 262,708 297,059 Loans held for sale (includes $2,892 and $4,220 carried at fair value) 4,936 7,104 Loans 936,682 955,871 Allowance for loan losses (14,606) (12,985) Net loans 922,076 942,886 Mortgage servicing rights (includes $7,468 and $9,310 carried at fair value) 8,508 10,480 Premises and equipment, net 9,266 8,350 Goodwill 25,175 25,173 Derivative assets 18,223 22,774 Equity securities (includes $19,841 and $28,383 carried at fair value; and assets pledged as collateral of $2,683 and $747) 57,336 64,414 Other assets (1) 78,815 75,838 Total assets (2) $ 1,932,468 1,881,020 Liabilities Noninterest-bearing deposits $ 360,279 458,010 Interest-bearing deposits (includes $1,297 and $0 carried at fair value) 997,894 925,975 Total deposits 1,358,173 1,383,985 Short-term borrowings (includes $219 and $181 carried at fair value) 89,559 51,145 Derivative liabilities (1) 18,495 20,067 Accrued expenses and other liabilities (includes $25,335 and $20,290 carried at fair value) (1) 71,210 68,740 Long-term debt (includes $2,308 and $1,346 carried at fair value) 207,588 174,870 Total liabilities (3) 1,745,025 1,698,807 Equity Wells Fargo stockholders’ equity: Preferred stock – aggregate liquidation preference of $20,216 and $20,216 19,448 19,448 Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares 9,136 9,136 Additional paid-in capital 60,555 60,319 Retained earnings (1) 201,136 187,968 Accumulated other comprehensive loss (1) (11,580) (13,362) Treasury stock, at cost – 1,882,948,892 shares and 1,648,007,022 shares (92,960) (82,853) Unearned ESOP shares — (429) Total Wells Fargo stockholders’ equity 185,735 180,227 Noncontrolling interests 1,708 1,986 Total equity 187,443 182,213 Total liabilities and equity $ 1,932,468 1,881,020" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Statement of Cash Flows Year ended December 31, (in millions) 2023 2022 2021 Cash flows from operating activities: Net income before noncontrolling interests (1) $ 19,029 13,378 23,799 Adjustments to reconcile net income to net cash provided by operating activities: Provision for credit losses 5,399 1,534 (4,155) Changes in fair value of MSRs and LHFS carried at fair value 851 (1,326) (1,188) Depreciation, amortization and accretion 6,271 6,832 7,890 Deferred income tax expense (benefit) (1) (50) 1,239 (1,106) Other, net 7,149 (14,524) (12,194) Originations and purchases of loans held for sale (30,365) (74,910) (158,923) Proceeds from sales of and paydowns on loans originally classified as held for sale 26,793 65,418 101,293 Net change in: Debt and equity securities, held for trading 3,349 31,579 19,334 Derivative assets and liabilities (1) 4,155 7,850 (2,484) Other assets (1) (6,838) (9,162) 15,477 Other accrued expenses and liabilities (1) 4,615 (860) 732 Net cash provided (used) by operating activities 40,358 27,048 (11,525) Cash flows from investing activities: Net change in: Federal funds sold and securities purchased under resale agreements (12,729) (704) (551) Available-for-sale debt securities: Proceeds from sales 14,651 16,895 17,958 Paydowns and maturities 14,872 19,791 75,701 Purchases (26,051) (40,104) (110,431) Held-to-maturity debt securities: Paydowns and maturities 18,372 27,666 79,517 Purchases (4,225) (2,360) (71,245) Equity securities, not held for trading: Proceeds from sales and capital returns 2,244 4,326 4,933 Purchases (5,811) (6,984) (7,680) Loans: Loans originated by banking subsidiaries, net of principal collected 10,296 (74,861) (28,809) Proceeds from sales of loans originally classified as held for investment 4,275 12,446 31,847 Purchases of loans (1,637) (741) (389) Principal collected on nonbank entities’ loans 4,871 5,173 8,985 Loans originated by nonbank entities (3,476) (3,824) (11,237) Other, net 391 805 3,782 Net cash provided (used) by investing activities 16,043 (42,476) (7,619) Cash flows from financing activities: Net change in: Deposits (25,812) (98,494) 78,582 Short-term borrowings 38,414 16,564 (24,590) Long-term debt: Proceeds from issuance 49,071 53,737 1,275 Repayment (22,886) (19,587) (47,134) Preferred stock: Proceeds from issuance 1,722 — 5,756 Redeemed (1,725) — (6,675) Cash dividends paid (1,141) (1,115) (1,205) Common stock: Repurchased (11,851) (6,033) (14,464) Cash dividends paid (4,789) (4,178) (2,422) Other, net (509) (539) (361) Net cash provided (used) by financing activities 20,494 (59,645) (11,238) Net change in cash, cash equivalents, and restricted cash 76,895 (75,073) (30,382) Cash, cash equivalents, and restricted cash at beginning of period (2) 159,157 234,230 264,612 Cash, cash equivalents, and restricted cash at end of period (2) $ 236,052 159,157 234,230 Supplemental cash flow disclosures: Cash paid for interest $ 30,431 8,289 4,384 Net cash paid (refunded) for income taxes (1,786) 3,376 3,166" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Statement of Cash Flows Year ended December 31, (in millions) 2023 2022 2021 Cash flows from operating activities: Net income before noncontrolling interests (1) $ 19,029 13,378 23,799 Adjustments to reconcile net income to net cash provided by operating activities: Provision for credit losses 5,399 1,534 (4,155) Changes in fair value of MSRs and LHFS carried at fair value 851 (1,326) (1,188) Depreciation, amortization and accretion 6,271 6,832 7,890 Deferred income tax expense (benefit) (1) (50) 1,239 (1,106) Other, net 7,149 (14,524) (12,194) Originations and purchases of loans held for sale (30,365) (74,910) (158,923) Proceeds from sales of and paydowns on loans originally classified as held for sale 26,793 65,418 101,293 Net change in: Debt and equity securities, held for trading 3,349 31,579 19,334 Derivative assets and liabilities (1) 4,155 7,850 (2,484) Other assets (1) (6,838) (9,162) 15,477 Other accrued expenses and liabilities (1) 4,615 (860) 732 Net cash provided (used) by operating activities 40,358 27,048 (11,525) Cash flows from investing activities: Net change in: Federal funds sold and securities purchased under resale agreements (12,729) (704) (551) Available-for-sale debt securities: Proceeds from sales 14,651 16,895 17,958 Paydowns and maturities 14,872 19,791 75,701 Purchases (26,051) (40,104) (110,431) Held-to-maturity debt securities: Paydowns and maturities 18,372 27,666 79,517 Purchases (4,225) (2,360) (71,245) Equity securities, not held for trading: Proceeds from sales and capital returns 2,244 4,326 4,933 Purchases (5,811) (6,984) (7,680) Loans: Loans originated by banking subsidiaries, net of principal collected 10,296 (74,861) (28,809) Proceeds from sales of loans originally classified as held for investment 4,275 12,446 31,847 Purchases of loans (1,637) (741) (389) Principal collected on nonbank entities’ loans 4,871 5,173 8,985 Loans originated by nonbank entities (3,476) (3,824) (11,237) Other, net 391 805 3,782 Net cash provided (used) by investing activities 16,043 (42,476) (7,619) Cash flows from financing activities: Net change in: Deposits (25,812) (98,494) 78,582 Short-term borrowings 38,414 16,564 (24,590) Long-term debt: Proceeds from issuance 49,071 53,737 1,275 Repayment (22,886) (19,587) (47,134) Preferred stock: Proceeds from issuance 1,722 — 5,756 Redeemed (1,725) — (6,675) Cash dividends paid (1,141) (1,115) (1,205) Common stock: Repurchased (11,851) (6,033) (14,464) Cash dividends paid (4,789) (4,178) (2,422) Other, net (509) (539) (361) Net cash provided (used) by financing activities 20,494 (59,645) (11,238) Net change in cash, cash equivalents, and restricted cash 76,895 (75,073) (30,382) Cash, cash equivalents, and restricted cash at beginning of period (2) 159,157 234,230 264,612 Cash, cash equivalents, and restricted cash at end of period (2) $ 236,052 159,157 234,230 Supplemental cash flow disclosures: Cash paid for interest $ 30,431 8,289 4,384 Net cash paid (refunded) for income taxes (1,786) 3,376 3,166" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Statement of Cash Flows Year ended December 31, (in millions) 2023 2022 2021 Cash flows from operating activities: Net income before noncontrolling interests (1) $ 19,029 13,378 23,799 Adjustments to reconcile net income to net cash provided by operating activities: Provision for credit losses 5,399 1,534 (4,155) Changes in fair value of MSRs and LHFS carried at fair value 851 (1,326) (1,188) Depreciation, amortization and accretion 6,271 6,832 7,890 Deferred income tax expense (benefit) (1) (50) 1,239 (1,106) Other, net 7,149 (14,524) (12,194) Originations and purchases of loans held for sale (30,365) (74,910) (158,923) Proceeds from sales of and paydowns on loans originally classified as held for sale 26,793 65,418 101,293 Net change in: Debt and equity securities, held for trading 3,349 31,579 19,334 Derivative assets and liabilities (1) 4,155 7,850 (2,484) Other assets (1) (6,838) (9,162) 15,477 Other accrued expenses and liabilities (1) 4,615 (860) 732 Net cash provided (used) by operating activities 40,358 27,048 (11,525) Cash flows from investing activities: Net change in: Federal funds sold and securities purchased under resale agreements (12,729) (704) (551) Available-for-sale debt securities: Proceeds from sales 14,651 16,895 17,958 Paydowns and maturities 14,872 19,791 75,701 Purchases (26,051) (40,104) (110,431) Held-to-maturity debt securities: Paydowns and maturities 18,372 27,666 79,517 Purchases (4,225) (2,360) (71,245) Equity securities, not held for trading: Proceeds from sales and capital returns 2,244 4,326 4,933 Purchases (5,811) (6,984) (7,680) Loans: Loans originated by banking subsidiaries, net of principal collected 10,296 (74,861) (28,809) Proceeds from sales of loans originally classified as held for investment 4,275 12,446 31,847 Purchases of loans (1,637) (741) (389) Principal collected on nonbank entities’ loans 4,871 5,173 8,985 Loans originated by nonbank entities (3,476) (3,824) (11,237) Other, net 391 805 3,782 Net cash provided (used) by investing activities 16,043 (42,476) (7,619) Cash flows from financing activities: Net change in: Deposits (25,812) (98,494) 78,582 Short-term borrowings 38,414 16,564 (24,590) Long-term debt: Proceeds from issuance 49,071 53,737 1,275 Repayment (22,886) (19,587) (47,134) Preferred stock: Proceeds from issuance 1,722 — 5,756 Redeemed (1,725) — (6,675) Cash dividends paid (1,141) (1,115) (1,205) Common stock: Repurchased (11,851) (6,033) (14,464) Cash dividends paid (4,789) (4,178) (2,422) Other, net (509) (539) (361) Net cash provided (used) by financing activities 20,494 (59,645) (11,238) Net change in cash, cash equivalents, and restricted cash 76,895 (75,073) (30,382) Cash, cash equivalents, and restricted cash at beginning of period (2) 159,157 234,230 264,612 Cash, cash equivalents, and restricted cash at end of period (2) $ 236,052 159,157 234,230 Supplemental cash flow disclosures: Cash paid for interest $ 30,431 8,289 4,384 Net cash paid (refunded) for income taxes (1,786) 3,376 3,166" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Statement of Cash Flows Year ended December 31, (in millions) 2023 2022 2021 Cash flows from operating activities: Net income before noncontrolling interests (1) $ 19,029 13,378 23,799 Adjustments to reconcile net income to net cash provided by operating activities: Provision for credit losses 5,399 1,534 (4,155) Changes in fair value of MSRs and LHFS carried at fair value 851 (1,326) (1,188) Depreciation, amortization and accretion 6,271 6,832 7,890 Deferred income tax expense (benefit) (1) (50) 1,239 (1,106) Other, net 7,149 (14,524) (12,194) Originations and purchases of loans held for sale (30,365) (74,910) (158,923) Proceeds from sales of and paydowns on loans originally classified as held for sale 26,793 65,418 101,293 Net change in: Debt and equity securities, held for trading 3,349 31,579 19,334 Derivative assets and liabilities (1) 4,155 7,850 (2,484) Other assets (1) (6,838) (9,162) 15,477 Other accrued expenses and liabilities (1) 4,615 (860) 732 Net cash provided (used) by operating activities 40,358 27,048 (11,525) Cash flows from investing activities: Net change in: Federal funds sold and securities purchased under resale agreements (12,729) (704) (551) Available-for-sale debt securities: Proceeds from sales 14,651 16,895 17,958 Paydowns and maturities 14,872 19,791 75,701 Purchases (26,051) (40,104) (110,431) Held-to-maturity debt securities: Paydowns and maturities 18,372 27,666 79,517 Purchases (4,225) (2,360) (71,245) Equity securities, not held for trading: Proceeds from sales and capital returns 2,244 4,326 4,933 Purchases (5,811) (6,984) (7,680) Loans: Loans originated by banking subsidiaries, net of principal collected 10,296 (74,861) (28,809) Proceeds from sales of loans originally classified as held for investment 4,275 12,446 31,847 Purchases of loans (1,637) (741) (389) Principal collected on nonbank entities’ loans 4,871 5,173 8,985 Loans originated by nonbank entities (3,476) (3,824) (11,237) Other, net 391 805 3,782 Net cash provided (used) by investing activities 16,043 (42,476) (7,619) Cash flows from financing activities: Net change in: Deposits (25,812) (98,494) 78,582 Short-term borrowings 38,414 16,564 (24,590) Long-term debt: Proceeds from issuance 49,071 53,737 1,275 Repayment (22,886) (19,587) (47,134) Preferred stock: Proceeds from issuance 1,722 — 5,756 Redeemed (1,725) — (6,675) Cash dividends paid (1,141) (1,115) (1,205) Common stock: Repurchased (11,851) (6,033) (14,464) Cash dividends paid (4,789) (4,178) (2,422) Other, net (509) (539) (361) Net cash provided (used) by financing activities 20,494 (59,645) (11,238) Net change in cash, cash equivalents, and restricted cash 76,895 (75,073) (30,382) Cash, cash equivalents, and restricted cash at beginning of period (2) 159,157 234,230 264,612 Cash, cash equivalents, and restricted cash at end of period (2) $ 236,052 159,157 234,230 Supplemental cash flow disclosures: Cash paid for interest $ 30,431 8,289 4,384 Net cash paid (refunded) for income taxes (1,786) 3,376 3,166" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Statement of Cash Flows Year ended December 31, (in millions) 2023 2022 2021 Cash flows from operating activities: Net income before noncontrolling interests (1) $ 19,029 13,378 23,799 Adjustments to reconcile net income to net cash provided by operating activities: Provision for credit losses 5,399 1,534 (4,155) Changes in fair value of MSRs and LHFS carried at fair value 851 (1,326) (1,188) Depreciation, amortization and accretion 6,271 6,832 7,890 Deferred income tax expense (benefit) (1) (50) 1,239 (1,106) Other, net 7,149 (14,524) (12,194) Originations and purchases of loans held for sale (30,365) (74,910) (158,923) Proceeds from sales of and paydowns on loans originally classified as held for sale 26,793 65,418 101,293 Net change in: Debt and equity securities, held for trading 3,349 31,579 19,334 Derivative assets and liabilities (1) 4,155 7,850 (2,484) Other assets (1) (6,838) (9,162) 15,477 Other accrued expenses and liabilities (1) 4,615 (860) 732 Net cash provided (used) by operating activities 40,358 27,048 (11,525) Cash flows from investing activities: Net change in: Federal funds sold and securities purchased under resale agreements (12,729) (704) (551) Available-for-sale debt securities: Proceeds from sales 14,651 16,895 17,958 Paydowns and maturities 14,872 19,791 75,701 Purchases (26,051) (40,104) (110,431) Held-to-maturity debt securities: Paydowns and maturities 18,372 27,666 79,517 Purchases (4,225) (2,360) (71,245) Equity securities, not held for trading: Proceeds from sales and capital returns 2,244 4,326 4,933 Purchases (5,811) (6,984) (7,680) Loans: Loans originated by banking subsidiaries, net of principal collected 10,296 (74,861) (28,809) Proceeds from sales of loans originally classified as held for investment 4,275 12,446 31,847 Purchases of loans (1,637) (741) (389) Principal collected on nonbank entities’ loans 4,871 5,173 8,985 Loans originated by nonbank entities (3,476) (3,824) (11,237) Other, net 391 805 3,782 Net cash provided (used) by investing activities 16,043 (42,476) (7,619) Cash flows from financing activities: Net change in: Deposits (25,812) (98,494) 78,582 Short-term borrowings 38,414 16,564 (24,590) Long-term debt: Proceeds from issuance 49,071 53,737 1,275 Repayment (22,886) (19,587) (47,134) Preferred stock: Proceeds from issuance 1,722 — 5,756 Redeemed (1,725) — (6,675) Cash dividends paid (1,141) (1,115) (1,205) Common stock: Repurchased (11,851) (6,033) (14,464) Cash dividends paid (4,789) (4,178) (2,422) Other, net (509) (539) (361) Net cash provided (used) by financing activities 20,494 (59,645) (11,238) Net change in cash, cash equivalents, and restricted cash 76,895 (75,073) (30,382) Cash, cash equivalents, and restricted cash at beginning of period (2) 159,157 234,230 264,612 Cash, cash equivalents, and restricted cash at end of period (2) $ 236,052 159,157 234,230 Supplemental cash flow disclosures: Cash paid for interest $ 30,431 8,289 4,384 Net cash paid (refunded) for income taxes (1,786) 3,376 3,166" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Statement of Cash Flows Year ended December 31, (in millions) 2023 2022 2021 Cash flows from operating activities: Net income before noncontrolling interests (1) $ 19,029 13,378 23,799 Adjustments to reconcile net income to net cash provided by operating activities: Provision for credit losses 5,399 1,534 (4,155) Changes in fair value of MSRs and LHFS carried at fair value 851 (1,326) (1,188) Depreciation, amortization and accretion 6,271 6,832 7,890 Deferred income tax expense (benefit) (1) (50) 1,239 (1,106) Other, net 7,149 (14,524) (12,194) Originations and purchases of loans held for sale (30,365) (74,910) (158,923) Proceeds from sales of and paydowns on loans originally classified as held for sale 26,793 65,418 101,293 Net change in: Debt and equity securities, held for trading 3,349 31,579 19,334 Derivative assets and liabilities (1) 4,155 7,850 (2,484) Other assets (1) (6,838) (9,162) 15,477 Other accrued expenses and liabilities (1) 4,615 (860) 732 Net cash provided (used) by operating activities 40,358 27,048 (11,525) Cash flows from investing activities: Net change in: Federal funds sold and securities purchased under resale agreements (12,729) (704) (551) Available-for-sale debt securities: Proceeds from sales 14,651 16,895 17,958 Paydowns and maturities 14,872 19,791 75,701 Purchases (26,051) (40,104) (110,431) Held-to-maturity debt securities: Paydowns and maturities 18,372 27,666 79,517 Purchases (4,225) (2,360) (71,245) Equity securities, not held for trading: Proceeds from sales and capital returns 2,244 4,326 4,933 Purchases (5,811) (6,984) (7,680) Loans: Loans originated by banking subsidiaries, net of principal collected 10,296 (74,861) (28,809) Proceeds from sales of loans originally classified as held for investment 4,275 12,446 31,847 Purchases of loans (1,637) (741) (389) Principal collected on nonbank entities’ loans 4,871 5,173 8,985 Loans originated by nonbank entities (3,476) (3,824) (11,237) Other, net 391 805 3,782 Net cash provided (used) by investing activities 16,043 (42,476) (7,619) Cash flows from financing activities: Net change in: Deposits (25,812) (98,494) 78,582 Short-term borrowings 38,414 16,564 (24,590) Long-term debt: Proceeds from issuance 49,071 53,737 1,275 Repayment (22,886) (19,587) (47,134) Preferred stock: Proceeds from issuance 1,722 — 5,756 Redeemed (1,725) — (6,675) Cash dividends paid (1,141) (1,115) (1,205) Common stock: Repurchased (11,851) (6,033) (14,464) Cash dividends paid (4,789) (4,178) (2,422) Other, net (509) (539) (361) Net cash provided (used) by financing activities 20,494 (59,645) (11,238) Net change in cash, cash equivalents, and restricted cash 76,895 (75,073) (30,382) Cash, cash equivalents, and restricted cash at beginning of period (2) 159,157 234,230 264,612 Cash, cash equivalents, and restricted cash at end of period (2) $ 236,052 159,157 234,230 Supplemental cash flow disclosures: Cash paid for interest $ 30,431 8,289 4,384 Net cash paid (refunded) for income taxes (1,786) 3,376 3,166" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Statement of Cash Flows Year ended December 31, (in millions) 2023 2022 2021 Cash flows from operating activities: Net income before noncontrolling interests (1) $ 19,029 13,378 23,799 Adjustments to reconcile net income to net cash provided by operating activities: Provision for credit losses 5,399 1,534 (4,155) Changes in fair value of MSRs and LHFS carried at fair value 851 (1,326) (1,188) Depreciation, amortization and accretion 6,271 6,832 7,890 Deferred income tax expense (benefit) (1) (50) 1,239 (1,106) Other, net 7,149 (14,524) (12,194) Originations and purchases of loans held for sale (30,365) (74,910) (158,923) Proceeds from sales of and paydowns on loans originally classified as held for sale 26,793 65,418 101,293 Net change in: Debt and equity securities, held for trading 3,349 31,579 19,334 Derivative assets and liabilities (1) 4,155 7,850 (2,484) Other assets (1) (6,838) (9,162) 15,477 Other accrued expenses and liabilities (1) 4,615 (860) 732 Net cash provided (used) by operating activities 40,358 27,048 (11,525) Cash flows from investing activities: Net change in: Federal funds sold and securities purchased under resale agreements (12,729) (704) (551) Available-for-sale debt securities: Proceeds from sales 14,651 16,895 17,958 Paydowns and maturities 14,872 19,791 75,701 Purchases (26,051) (40,104) (110,431) Held-to-maturity debt securities: Paydowns and maturities 18,372 27,666 79,517 Purchases (4,225) (2,360) (71,245) Equity securities, not held for trading: Proceeds from sales and capital returns 2,244 4,326 4,933 Purchases (5,811) (6,984) (7,680) Loans: Loans originated by banking subsidiaries, net of principal collected 10,296 (74,861) (28,809) Proceeds from sales of loans originally classified as held for investment 4,275 12,446 31,847 Purchases of loans (1,637) (741) (389) Principal collected on nonbank entities’ loans 4,871 5,173 8,985 Loans originated by nonbank entities (3,476) (3,824) (11,237) Other, net 391 805 3,782 Net cash provided (used) by investing activities 16,043 (42,476) (7,619) Cash flows from financing activities: Net change in: Deposits (25,812) (98,494) 78,582 Short-term borrowings 38,414 16,564 (24,590) Long-term debt: Proceeds from issuance 49,071 53,737 1,275 Repayment (22,886) (19,587) (47,134) Preferred stock: Proceeds from issuance 1,722 — 5,756 Redeemed (1,725) — (6,675) Cash dividends paid (1,141) (1,115) (1,205) Common stock: Repurchased (11,851) (6,033) (14,464) Cash dividends paid (4,789) (4,178) (2,422) Other, net (509) (539) (361) Net cash provided (used) by financing activities 20,494 (59,645) (11,238) Net change in cash, cash equivalents, and restricted cash 76,895 (75,073) (30,382) Cash, cash equivalents, and restricted cash at beginning of period (2) 159,157 234,230 264,612 Cash, cash equivalents, and restricted cash at end of period (2) $ 236,052 159,157 234,230 Supplemental cash flow disclosures: Cash paid for interest $ 30,431 8,289 4,384 Net cash paid (refunded) for income taxes (1,786) 3,376 3,166" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Statement of Comprehensive Income Year ended December 31, (in millions) 2023 2022 2021 Net income before noncontrolling interests (1) $ 19,029 13,378 23,799 Other comprehensive income (loss), after tax: Net change in debt securities 1,271 (10,500) (2,374) Net change in derivatives and hedging activities 411 (1,090) 159 Defined benefit plans adjustments 68 154 349 Other (1) 34 (178) (94) Other comprehensive income (loss), after tax 1,784 (11,614) (1,960) Total comprehensive income before noncontrolling interests 20,813 1,764 21,839 Less: Other comprehensive income from noncontrolling interests 2 2 — Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo comprehensive income $ 20,924 2,061 20,149" ]

[ "Financial Statements Wells Fargo & Company and Subsidiaries Consolidated Statement of Income Year ended December 31, (in millions, except per share amounts) 2023 2022 2021 Interest income Debt securities $ 16,108 11,781 9,253 Loans held for sale 363 513 865 Loans 57,155 37,715 28,634 Equity securities 682 707 608 Other interest income 10,810 3,308 334 Total interest income 85,118 54,024 39,694 Interest expense Deposits 16,503 2,349 388 Short-term borrowings 3,848 582 (41) Long-term debt 11,572 5,505 3,173 Other interest expense 820 638 395 Total interest expense 32,743 9,074 3,915 Net interest income 52,375 44,950 35,779 Noninterest income Deposit and lending-related fees 6,140 6,713 6,920 Investment advisory and other asset-based fees 8,670 9,004 11,011 Commissions and brokerage services fees 2,375 2,242 2,299 Investment banking fees 1,649 1,439 2,354 Card fees 4,256 4,355 4,175 Mortgage banking 829 1,383 4,956 Net gains from trading and securities 4,368 1,461 7,264 Other (1) 1,935 2,821 4,408 Total noninterest income 30,222 29,418 43,387 Total revenue 82,597 74,368 79,166 Provision for credit losses 5,399 1,534 (4,155) Noninterest expense Personnel 35,829 34,340 35,541 Technology, telecommunications and equipment 3,920 3,375 3,227 Occupancy 2,884 2,881 2,968 Operating losses 1,183 6,984 1,568 Professional and outside services 5,085 5,188 5,723 Advertising and promotion 812 505 600 Other (1) 5,849 3,932 4,131 Total noninterest expense 55,562 57,205 53,758 Income before income tax expense 21,636 15,629 29,563 Income tax expense (1) 2,607 2,251 5,764 Net income before noncontrolling interests 19,029 13,378 23,799 Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo net income (1) $ 19,142 13,677 22,109 Less: Preferred stock dividends and other 1,160 1,115 1,291 Wells Fargo net income applicable to common stock $ 17,982 12,562 20,818 Per share information Earnings per common share $ 4.88 3.30 5.13 Diluted earnings per common share 4.83 3.27 5.08 Average common shares outstanding 3,688.3 3,805.2 4,061.9 Diluted average common shares outstanding 3,720.4 3,837.0 4,096.2" ]

[ "Financial Statements Wells Fargo & Company and Subsidiaries Consolidated Statement of Income Year ended December 31, (in millions, except per share amounts) 2023 2022 2021 Interest income Debt securities $ 16,108 11,781 9,253 Loans held for sale 363 513 865 Loans 57,155 37,715 28,634 Equity securities 682 707 608 Other interest income 10,810 3,308 334 Total interest income 85,118 54,024 39,694 Interest expense Deposits 16,503 2,349 388 Short-term borrowings 3,848 582 (41) Long-term debt 11,572 5,505 3,173 Other interest expense 820 638 395 Total interest expense 32,743 9,074 3,915 Net interest income 52,375 44,950 35,779 Noninterest income Deposit and lending-related fees 6,140 6,713 6,920 Investment advisory and other asset-based fees 8,670 9,004 11,011 Commissions and brokerage services fees 2,375 2,242 2,299 Investment banking fees 1,649 1,439 2,354 Card fees 4,256 4,355 4,175 Mortgage banking 829 1,383 4,956 Net gains from trading and securities 4,368 1,461 7,264 Other (1) 1,935 2,821 4,408 Total noninterest income 30,222 29,418 43,387 Total revenue 82,597 74,368 79,166 Provision for credit losses 5,399 1,534 (4,155) Noninterest expense Personnel 35,829 34,340 35,541 Technology, telecommunications and equipment 3,920 3,375 3,227 Occupancy 2,884 2,881 2,968 Operating losses 1,183 6,984 1,568 Professional and outside services 5,085 5,188 5,723 Advertising and promotion 812 505 600 Other (1) 5,849 3,932 4,131 Total noninterest expense 55,562 57,205 53,758 Income before income tax expense 21,636 15,629 29,563 Income tax expense (1) 2,607 2,251 5,764 Net income before noncontrolling interests 19,029 13,378 23,799 Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo net income (1) $ 19,142 13,677 22,109 Less: Preferred stock dividends and other 1,160 1,115 1,291 Wells Fargo net income applicable to common stock $ 17,982 12,562 20,818 Per share information Earnings per common share $ 4.88 3.30 5.13 Diluted earnings per common share 4.83 3.27 5.08 Average common shares outstanding 3,688.3 3,805.2 4,061.9 Diluted average common shares outstanding 3,720.4 3,837.0 4,096.2" ]

[ "Financial Statements Wells Fargo & Company and Subsidiaries Consolidated Statement of Income Year ended December 31, (in millions, except per share amounts) 2023 2022 2021 Interest income Debt securities $ 16,108 11,781 9,253 Loans held for sale 363 513 865 Loans 57,155 37,715 28,634 Equity securities 682 707 608 Other interest income 10,810 3,308 334 Total interest income 85,118 54,024 39,694 Interest expense Deposits 16,503 2,349 388 Short-term borrowings 3,848 582 (41) Long-term debt 11,572 5,505 3,173 Other interest expense 820 638 395 Total interest expense 32,743 9,074 3,915 Net interest income 52,375 44,950 35,779 Noninterest income Deposit and lending-related fees 6,140 6,713 6,920 Investment advisory and other asset-based fees 8,670 9,004 11,011 Commissions and brokerage services fees 2,375 2,242 2,299 Investment banking fees 1,649 1,439 2,354 Card fees 4,256 4,355 4,175 Mortgage banking 829 1,383 4,956 Net gains from trading and securities 4,368 1,461 7,264 Other (1) 1,935 2,821 4,408 Total noninterest income 30,222 29,418 43,387 Total revenue 82,597 74,368 79,166 Provision for credit losses 5,399 1,534 (4,155) Noninterest expense Personnel 35,829 34,340 35,541 Technology, telecommunications and equipment 3,920 3,375 3,227 Occupancy 2,884 2,881 2,968 Operating losses 1,183 6,984 1,568 Professional and outside services 5,085 5,188 5,723 Advertising and promotion 812 505 600 Other (1) 5,849 3,932 4,131 Total noninterest expense 55,562 57,205 53,758 Income before income tax expense 21,636 15,629 29,563 Income tax expense (1) 2,607 2,251 5,764 Net income before noncontrolling interests 19,029 13,378 23,799 Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo net income (1) $ 19,142 13,677 22,109 Less: Preferred stock dividends and other 1,160 1,115 1,291 Wells Fargo net income applicable to common stock $ 17,982 12,562 20,818 Per share information Earnings per common share $ 4.88 3.30 5.13 Diluted earnings per common share 4.83 3.27 5.08 Average common shares outstanding 3,688.3 3,805.2 4,061.9 Diluted average common shares outstanding 3,720.4 3,837.0 4,096.2" ]

[ "Financial Statements Wells Fargo & Company and Subsidiaries Consolidated Statement of Income Year ended December 31, (in millions, except per share amounts) 2023 2022 2021 Interest income Debt securities $ 16,108 11,781 9,253 Loans held for sale 363 513 865 Loans 57,155 37,715 28,634 Equity securities 682 707 608 Other interest income 10,810 3,308 334 Total interest income 85,118 54,024 39,694 Interest expense Deposits 16,503 2,349 388 Short-term borrowings 3,848 582 (41) Long-term debt 11,572 5,505 3,173 Other interest expense 820 638 395 Total interest expense 32,743 9,074 3,915 Net interest income 52,375 44,950 35,779 Noninterest income Deposit and lending-related fees 6,140 6,713 6,920 Investment advisory and other asset-based fees 8,670 9,004 11,011 Commissions and brokerage services fees 2,375 2,242 2,299 Investment banking fees 1,649 1,439 2,354 Card fees 4,256 4,355 4,175 Mortgage banking 829 1,383 4,956 Net gains from trading and securities 4,368 1,461 7,264 Other (1) 1,935 2,821 4,408 Total noninterest income 30,222 29,418 43,387 Total revenue 82,597 74,368 79,166 Provision for credit losses 5,399 1,534 (4,155) Noninterest expense Personnel 35,829 34,340 35,541 Technology, telecommunications and equipment 3,920 3,375 3,227 Occupancy 2,884 2,881 2,968 Operating losses 1,183 6,984 1,568 Professional and outside services 5,085 5,188 5,723 Advertising and promotion 812 505 600 Other (1) 5,849 3,932 4,131 Total noninterest expense 55,562 57,205 53,758 Income before income tax expense 21,636 15,629 29,563 Income tax expense (1) 2,607 2,251 5,764 Net income before noncontrolling interests 19,029 13,378 23,799 Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo net income (1) $ 19,142 13,677 22,109 Less: Preferred stock dividends and other 1,160 1,115 1,291 Wells Fargo net income applicable to common stock $ 17,982 12,562 20,818 Per share information Earnings per common share $ 4.88 3.30 5.13 Diluted earnings per common share 4.83 3.27 5.08 Average common shares outstanding 3,688.3 3,805.2 4,061.9 Diluted average common shares outstanding 3,720.4 3,837.0 4,096.2" ]

[ "Financial Statements Wells Fargo & Company and Subsidiaries Consolidated Statement of Income Year ended December 31, (in millions, except per share amounts) 2023 2022 2021 Interest income Debt securities $ 16,108 11,781 9,253 Loans held for sale 363 513 865 Loans 57,155 37,715 28,634 Equity securities 682 707 608 Other interest income 10,810 3,308 334 Total interest income 85,118 54,024 39,694 Interest expense Deposits 16,503 2,349 388 Short-term borrowings 3,848 582 (41) Long-term debt 11,572 5,505 3,173 Other interest expense 820 638 395 Total interest expense 32,743 9,074 3,915 Net interest income 52,375 44,950 35,779 Noninterest income Deposit and lending-related fees 6,140 6,713 6,920 Investment advisory and other asset-based fees 8,670 9,004 11,011 Commissions and brokerage services fees 2,375 2,242 2,299 Investment banking fees 1,649 1,439 2,354 Card fees 4,256 4,355 4,175 Mortgage banking 829 1,383 4,956 Net gains from trading and securities 4,368 1,461 7,264 Other (1) 1,935 2,821 4,408 Total noninterest income 30,222 29,418 43,387 Total revenue 82,597 74,368 79,166 Provision for credit losses 5,399 1,534 (4,155) Noninterest expense Personnel 35,829 34,340 35,541 Technology, telecommunications and equipment 3,920 3,375 3,227 Occupancy 2,884 2,881 2,968 Operating losses 1,183 6,984 1,568 Professional and outside services 5,085 5,188 5,723 Advertising and promotion 812 505 600 Other (1) 5,849 3,932 4,131 Total noninterest expense 55,562 57,205 53,758 Income before income tax expense 21,636 15,629 29,563 Income tax expense (1) 2,607 2,251 5,764 Net income before noncontrolling interests 19,029 13,378 23,799 Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo net income (1) $ 19,142 13,677 22,109 Less: Preferred stock dividends and other 1,160 1,115 1,291 Wells Fargo net income applicable to common stock $ 17,982 12,562 20,818 Per share information Earnings per common share $ 4.88 3.30 5.13 Diluted earnings per common share 4.83 3.27 5.08 Average common shares outstanding 3,688.3 3,805.2 4,061.9 Diluted average common shares outstanding 3,720.4 3,837.0 4,096.2" ]

[ "Financial Statements Wells Fargo & Company and Subsidiaries Consolidated Statement of Income Year ended December 31, (in millions, except per share amounts) 2023 2022 2021 Interest income Debt securities $ 16,108 11,781 9,253 Loans held for sale 363 513 865 Loans 57,155 37,715 28,634 Equity securities 682 707 608 Other interest income 10,810 3,308 334 Total interest income 85,118 54,024 39,694 Interest expense Deposits 16,503 2,349 388 Short-term borrowings 3,848 582 (41) Long-term debt 11,572 5,505 3,173 Other interest expense 820 638 395 Total interest expense 32,743 9,074 3,915 Net interest income 52,375 44,950 35,779 Noninterest income Deposit and lending-related fees 6,140 6,713 6,920 Investment advisory and other asset-based fees 8,670 9,004 11,011 Commissions and brokerage services fees 2,375 2,242 2,299 Investment banking fees 1,649 1,439 2,354 Card fees 4,256 4,355 4,175 Mortgage banking 829 1,383 4,956 Net gains from trading and securities 4,368 1,461 7,264 Other (1) 1,935 2,821 4,408 Total noninterest income 30,222 29,418 43,387 Total revenue 82,597 74,368 79,166 Provision for credit losses 5,399 1,534 (4,155) Noninterest expense Personnel 35,829 34,340 35,541 Technology, telecommunications and equipment 3,920 3,375 3,227 Occupancy 2,884 2,881 2,968 Operating losses 1,183 6,984 1,568 Professional and outside services 5,085 5,188 5,723 Advertising and promotion 812 505 600 Other (1) 5,849 3,932 4,131 Total noninterest expense 55,562 57,205 53,758 Income before income tax expense 21,636 15,629 29,563 Income tax expense (1) 2,607 2,251 5,764 Net income before noncontrolling interests 19,029 13,378 23,799 Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo net income (1) $ 19,142 13,677 22,109 Less: Preferred stock dividends and other 1,160 1,115 1,291 Wells Fargo net income applicable to common stock $ 17,982 12,562 20,818 Per share information Earnings per common share $ 4.88 3.30 5.13 Diluted earnings per common share 4.83 3.27 5.08 Average common shares outstanding 3,688.3 3,805.2 4,061.9 Diluted average common shares outstanding 3,720.4 3,837.0 4,096.2" ]

[ "Financial Statements Wells Fargo & Company and Subsidiaries Consolidated Statement of Income Year ended December 31, (in millions, except per share amounts) 2023 2022 2021 Interest income Debt securities $ 16,108 11,781 9,253 Loans held for sale 363 513 865 Loans 57,155 37,715 28,634 Equity securities 682 707 608 Other interest income 10,810 3,308 334 Total interest income 85,118 54,024 39,694 Interest expense Deposits 16,503 2,349 388 Short-term borrowings 3,848 582 (41) Long-term debt 11,572 5,505 3,173 Other interest expense 820 638 395 Total interest expense 32,743 9,074 3,915 Net interest income 52,375 44,950 35,779 Noninterest income Deposit and lending-related fees 6,140 6,713 6,920 Investment advisory and other asset-based fees 8,670 9,004 11,011 Commissions and brokerage services fees 2,375 2,242 2,299 Investment banking fees 1,649 1,439 2,354 Card fees 4,256 4,355 4,175 Mortgage banking 829 1,383 4,956 Net gains from trading and securities 4,368 1,461 7,264 Other (1) 1,935 2,821 4,408 Total noninterest income 30,222 29,418 43,387 Total revenue 82,597 74,368 79,166 Provision for credit losses 5,399 1,534 (4,155) Noninterest expense Personnel 35,829 34,340 35,541 Technology, telecommunications and equipment 3,920 3,375 3,227 Occupancy 2,884 2,881 2,968 Operating losses 1,183 6,984 1,568 Professional and outside services 5,085 5,188 5,723 Advertising and promotion 812 505 600 Other (1) 5,849 3,932 4,131 Total noninterest expense 55,562 57,205 53,758 Income before income tax expense 21,636 15,629 29,563 Income tax expense (1) 2,607 2,251 5,764 Net income before noncontrolling interests 19,029 13,378 23,799 Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo net income (1) $ 19,142 13,677 22,109 Less: Preferred stock dividends and other 1,160 1,115 1,291 Wells Fargo net income applicable to common stock $ 17,982 12,562 20,818 Per share information Earnings per common share $ 4.88 3.30 5.13 Diluted earnings per common share 4.83 3.27 5.08 Average common shares outstanding 3,688.3 3,805.2 4,061.9 Diluted average common shares outstanding 3,720.4 3,837.0 4,096.2" ]

[ "Financial Statements Wells Fargo & Company and Subsidiaries Consolidated Statement of Income Year ended December 31, (in millions, except per share amounts) 2023 2022 2021 Interest income Debt securities $ 16,108 11,781 9,253 Loans held for sale 363 513 865 Loans 57,155 37,715 28,634 Equity securities 682 707 608 Other interest income 10,810 3,308 334 Total interest income 85,118 54,024 39,694 Interest expense Deposits 16,503 2,349 388 Short-term borrowings 3,848 582 (41) Long-term debt 11,572 5,505 3,173 Other interest expense 820 638 395 Total interest expense 32,743 9,074 3,915 Net interest income 52,375 44,950 35,779 Noninterest income Deposit and lending-related fees 6,140 6,713 6,920 Investment advisory and other asset-based fees 8,670 9,004 11,011 Commissions and brokerage services fees 2,375 2,242 2,299 Investment banking fees 1,649 1,439 2,354 Card fees 4,256 4,355 4,175 Mortgage banking 829 1,383 4,956 Net gains from trading and securities 4,368 1,461 7,264 Other (1) 1,935 2,821 4,408 Total noninterest income 30,222 29,418 43,387 Total revenue 82,597 74,368 79,166 Provision for credit losses 5,399 1,534 (4,155) Noninterest expense Personnel 35,829 34,340 35,541 Technology, telecommunications and equipment 3,920 3,375 3,227 Occupancy 2,884 2,881 2,968 Operating losses 1,183 6,984 1,568 Professional and outside services 5,085 5,188 5,723 Advertising and promotion 812 505 600 Other (1) 5,849 3,932 4,131 Total noninterest expense 55,562 57,205 53,758 Income before income tax expense 21,636 15,629 29,563 Income tax expense (1) 2,607 2,251 5,764 Net income before noncontrolling interests 19,029 13,378 23,799 Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo net income (1) $ 19,142 13,677 22,109 Less: Preferred stock dividends and other 1,160 1,115 1,291 Wells Fargo net income applicable to common stock $ 17,982 12,562 20,818 Per share information Earnings per common share $ 4.88 3.30 5.13 Diluted earnings per common share 4.83 3.27 5.08 Average common shares outstanding 3,688.3 3,805.2 4,061.9 Diluted average common shares outstanding 3,720.4 3,837.0 4,096.2" ]

[ "Financial Statements Wells Fargo & Company and Subsidiaries Consolidated Statement of Income Year ended December 31, (in millions, except per share amounts) 2023 2022 2021 Interest income Debt securities $ 16,108 11,781 9,253 Loans held for sale 363 513 865 Loans 57,155 37,715 28,634 Equity securities 682 707 608 Other interest income 10,810 3,308 334 Total interest income 85,118 54,024 39,694 Interest expense Deposits 16,503 2,349 388 Short-term borrowings 3,848 582 (41) Long-term debt 11,572 5,505 3,173 Other interest expense 820 638 395 Total interest expense 32,743 9,074 3,915 Net interest income 52,375 44,950 35,779 Noninterest income Deposit and lending-related fees 6,140 6,713 6,920 Investment advisory and other asset-based fees 8,670 9,004 11,011 Commissions and brokerage services fees 2,375 2,242 2,299 Investment banking fees 1,649 1,439 2,354 Card fees 4,256 4,355 4,175 Mortgage banking 829 1,383 4,956 Net gains from trading and securities 4,368 1,461 7,264 Other (1) 1,935 2,821 4,408 Total noninterest income 30,222 29,418 43,387 Total revenue 82,597 74,368 79,166 Provision for credit losses 5,399 1,534 (4,155) Noninterest expense Personnel 35,829 34,340 35,541 Technology, telecommunications and equipment 3,920 3,375 3,227 Occupancy 2,884 2,881 2,968 Operating losses 1,183 6,984 1,568 Professional and outside services 5,085 5,188 5,723 Advertising and promotion 812 505 600 Other (1) 5,849 3,932 4,131 Total noninterest expense 55,562 57,205 53,758 Income before income tax expense 21,636 15,629 29,563 Income tax expense (1) 2,607 2,251 5,764 Net income before noncontrolling interests 19,029 13,378 23,799 Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo net income (1) $ 19,142 13,677 22,109 Less: Preferred stock dividends and other 1,160 1,115 1,291 Wells Fargo net income applicable to common stock $ 17,982 12,562 20,818 Per share information Earnings per common share $ 4.88 3.30 5.13 Diluted earnings per common share 4.83 3.27 5.08 Average common shares outstanding 3,688.3 3,805.2 4,061.9 Diluted average common shares outstanding 3,720.4 3,837.0 4,096.2" ]

[ "Financial Statements Wells Fargo & Company and Subsidiaries Consolidated Statement of Income Year ended December 31, (in millions, except per share amounts) 2023 2022 2021 Interest income Debt securities $ 16,108 11,781 9,253 Loans held for sale 363 513 865 Loans 57,155 37,715 28,634 Equity securities 682 707 608 Other interest income 10,810 3,308 334 Total interest income 85,118 54,024 39,694 Interest expense Deposits 16,503 2,349 388 Short-term borrowings 3,848 582 (41) Long-term debt 11,572 5,505 3,173 Other interest expense 820 638 395 Total interest expense 32,743 9,074 3,915 Net interest income 52,375 44,950 35,779 Noninterest income Deposit and lending-related fees 6,140 6,713 6,920 Investment advisory and other asset-based fees 8,670 9,004 11,011 Commissions and brokerage services fees 2,375 2,242 2,299 Investment banking fees 1,649 1,439 2,354 Card fees 4,256 4,355 4,175 Mortgage banking 829 1,383 4,956 Net gains from trading and securities 4,368 1,461 7,264 Other (1) 1,935 2,821 4,408 Total noninterest income 30,222 29,418 43,387 Total revenue 82,597 74,368 79,166 Provision for credit losses 5,399 1,534 (4,155) Noninterest expense Personnel 35,829 34,340 35,541 Technology, telecommunications and equipment 3,920 3,375 3,227 Occupancy 2,884 2,881 2,968 Operating losses 1,183 6,984 1,568 Professional and outside services 5,085 5,188 5,723 Advertising and promotion 812 505 600 Other (1) 5,849 3,932 4,131 Total noninterest expense 55,562 57,205 53,758 Income before income tax expense 21,636 15,629 29,563 Income tax expense (1) 2,607 2,251 5,764 Net income before noncontrolling interests 19,029 13,378 23,799 Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo net income (1) $ 19,142 13,677 22,109 Less: Preferred stock dividends and other 1,160 1,115 1,291 Wells Fargo net income applicable to common stock $ 17,982 12,562 20,818 Per share information Earnings per common share $ 4.88 3.30 5.13 Diluted earnings per common share 4.83 3.27 5.08 Average common shares outstanding 3,688.3 3,805.2 4,061.9 Diluted average common shares outstanding 3,720.4 3,837.0 4,096.2" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Statement of Comprehensive Income Year ended December 31, (in millions) 2023 2022 2021 Net income before noncontrolling interests (1) $ 19,029 13,378 23,799 Other comprehensive income (loss), after tax: Net change in debt securities 1,271 (10,500) (2,374) Net change in derivatives and hedging activities 411 (1,090) 159 Defined benefit plans adjustments 68 154 349 Other (1) 34 (178) (94) Other comprehensive income (loss), after tax 1,784 (11,614) (1,960) Total comprehensive income before noncontrolling interests 20,813 1,764 21,839 Less: Other comprehensive income from noncontrolling interests 2 2 — Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo comprehensive income $ 20,924 2,061 20,149" ]

[ "Wells Fargo & Company and Subsidiaries Consolidated Statement of Changes in Equity Wells Fargo stockholders’ equity Preferred stock Common stock ($ and shares in millions) Shares Amount Shares Amount Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss) Treasury stock Unearned ESOP shares Noncontrolling interests Total equity Balance December 31, 2020 5.5 $ 21,136 4,144.0 $ 9,136 60,197 162,683 194 (67,791) (875) 1,032 185,712 Cumulative effect from change in accounting policy (1) (738) 20 (718) Balance January 1, 2021 5.5 21,136 4,144.0 9,136 60,197 161,945 214 (67,791) (875) 1,032 184,994 Net income (1) 22,109 1,690 23,799 Other comprehensive loss, net of tax (1) (1,960) — (1,960) Noncontrolling interests (219) (219) Common stock issued 43.8 (7) (162) 2,265 2,096 Common stock repurchased (306.4) (14,464) (14,464) Preferred stock issued 0.2 5,810 (54) 5,756 Preferred stock redeemed (2) (0.2) (6,676) 86 (86) — (6,676) Preferred stock issued to ESOP — — — — — — — Preferred stock released by ESOP (16) 229 213 Preferred stock converted to common shares (0.2) (213) 4.4 (8) 221 — Common stock dividends 29 (2,455) (2,426) Preferred stock dividends (1,205) (1,205) Stock-based compensation 1,043 1,043 Net change in deferred compensation and related plans (1,074) 12 (1,062) Net change (0.2) (1,079) (258.2) — (1) 18,201 (1,960) (11,966) 229 1,471 4,895 Balance December 31, 2021 5.3 $ 20,057 3,885.8 $ 9,136 60,196 180,146 (1,746) (79,757) (646) 2,503 189,889 Net income (loss) (1) 13,677 (299) 13,378 Other comprehensive income (loss), net of tax (1) (11,616) 2 (11,614) Noncontrolling interests (220) (220) Common stock issued 43.5 129 (497) 2,181 1,813 Common stock repurchased (110.4) (6,033) (6,033) Preferred stock issued — — — — Preferred stock redeemed (3) (0.6) (609) (37) — 646 — Common stock issued to ESOP (3) — — 14.9 (129) 747 (618) — Common stock released by ESOP (1) 189 188 Preferred stock converted to common shares — — — — — — Common stock dividends 59 (4,243) (4,184) Preferred stock dividends (1,115) (1,115) Stock-based compensation 1,002 1,002 Net change in deferred compensation and related plans (900) 9 (891) Net change (0.6) (609) (52.0) — 123 7,822 (11,616) (3,096) 217 (517) (7,676) Balance December 31, 2022 4.7 $ 19,448 3,833.8 $ 9,136 60,319 187,968 (13,362) (82,853) (429) 1,986 182,213 (1) In first quarter 2023, we adopted ASU 2018-12 – Financial Services – Insurance (Topic 944)T: argeted Improvements to the Accounting for Long-Duration Contracts. For additional information, see Note 1 (Summary of Significant Accounting Policies). (2) Represents the impact of the redemption of Preferred Stock, Series I, Series P and Series W, in first quarter 2021; Preferred Stock, Series N, in second quarter 2021; and Preferred Stock, Series O and Series X, in third quarter 2021. (3) In fourth quarter 2022, we redeemed all outstanding shares of our ESOP Preferred Stock in exchange for shares of the Company’s common stock. The accompanying notes are an integral part of these statements. Wells Fargo & Company 87 Wells Fargo & Company and Subsidiaries Consolidated Statement of Changes in Equity Wells Fargo stockholders’ equity Preferred stock Common stock ($ and shares in millions) Shares Amount Shares Amount Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss) Treasury stock Unearned ESOP shares Noncontrolling interests Total equity Balance December 31, 2022 4.7 $ 19,448 3,833.8 $ 9,136 60,319 187,968 (13,362) (82,853) (429) 1,986 182,213 Cumulative effect from change in accounting policy (1) 323 323 Balance January 1, 2023 4.7 19,448 3,833.8 9,136 60,319 188,291 (13,362) (82,853) (429) 1,986 182,536 Net income (loss) 19,142 (113) 19,029 Other comprehensive income, net of tax 1,782 2 1,784 Noncontrolling interests (167) (167) Common stock issued 37.2 — (258) 1,892 1,634 Common stock repurchased (272.1) (11,954) (11,954) Preferred stock issued 0.1 1,725 (3) 1,722 Preferred stock redeemed (2) (0.1) (1,725) 19 (19) — (1,725) Common stock issued to ESOP — — — — — — — Common stock released by ESOP (3) 1 429 430 Preferred stock converted to common shares — — — — — — Common stock dividends 83 (4,879) (4,796) Preferred stock dividends (1,141) (1,141) Stock-based compensation 1,122 1,122 Net change in deferred compensation and related plans (986) (45) (1,031) Net change — — (234.9) — 236 12,845 1,782 (10,107) 429 (278) 4,907 Balance December 31, 2023 4.7 $ 19,448 3,598.9 $ 9,136 60,555 201,136 (11,580) (92,960) — 1,708 187,443" ]

[ "Financial Statements Wells Fargo & Company and Subsidiaries Consolidated Statement of Income Year ended December 31, (in millions, except per share amounts) 2023 2022 2021 Interest income Debt securities $ 16,108 11,781 9,253 Loans held for sale 363 513 865 Loans 57,155 37,715 28,634 Equity securities 682 707 608 Other interest income 10,810 3,308 334 Total interest income 85,118 54,024 39,694 Interest expense Deposits 16,503 2,349 388 Short-term borrowings 3,848 582 (41) Long-term debt 11,572 5,505 3,173 Other interest expense 820 638 395 Total interest expense 32,743 9,074 3,915 Net interest income 52,375 44,950 35,779 Noninterest income Deposit and lending-related fees 6,140 6,713 6,920 Investment advisory and other asset-based fees 8,670 9,004 11,011 Commissions and brokerage services fees 2,375 2,242 2,299 Investment banking fees 1,649 1,439 2,354 Card fees 4,256 4,355 4,175 Mortgage banking 829 1,383 4,956 Net gains from trading and securities 4,368 1,461 7,264 Other (1) 1,935 2,821 4,408 Total noninterest income 30,222 29,418 43,387 Total revenue 82,597 74,368 79,166 Provision for credit losses 5,399 1,534 (4,155) Noninterest expense Personnel 35,829 34,340 35,541 Technology, telecommunications and equipment 3,920 3,375 3,227 Occupancy 2,884 2,881 2,968 Operating losses 1,183 6,984 1,568 Professional and outside services 5,085 5,188 5,723 Advertising and promotion 812 505 600 Other (1) 5,849 3,932 4,131 Total noninterest expense 55,562 57,205 53,758 Income before income tax expense 21,636 15,629 29,563 Income tax expense (1) 2,607 2,251 5,764 Net income before noncontrolling interests 19,029 13,378 23,799 Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo net income (1) $ 19,142 13,677 22,109 Less: Preferred stock dividends and other 1,160 1,115 1,291 Wells Fargo net income applicable to common stock $ 17,982 12,562 20,818 Per share information Earnings per common share $ 4.88 3.30 5.13 Diluted earnings per common share 4.83 3.27 5.08 Average common shares outstanding 3,688.3 3,805.2 4,061.9 Diluted average common shares outstanding 3,720.4 3,837.0 4,096.2" ]

[ "Financial Statements Wells Fargo & Company and Subsidiaries Consolidated Statement of Income Year ended December 31, (in millions, except per share amounts) 2023 2022 2021 Interest income Debt securities $ 16,108 11,781 9,253 Loans held for sale 363 513 865 Loans 57,155 37,715 28,634 Equity securities 682 707 608 Other interest income 10,810 3,308 334 Total interest income 85,118 54,024 39,694 Interest expense Deposits 16,503 2,349 388 Short-term borrowings 3,848 582 (41) Long-term debt 11,572 5,505 3,173 Other interest expense 820 638 395 Total interest expense 32,743 9,074 3,915 Net interest income 52,375 44,950 35,779 Noninterest income Deposit and lending-related fees 6,140 6,713 6,920 Investment advisory and other asset-based fees 8,670 9,004 11,011 Commissions and brokerage services fees 2,375 2,242 2,299 Investment banking fees 1,649 1,439 2,354 Card fees 4,256 4,355 4,175 Mortgage banking 829 1,383 4,956 Net gains from trading and securities 4,368 1,461 7,264 Other (1) 1,935 2,821 4,408 Total noninterest income 30,222 29,418 43,387 Total revenue 82,597 74,368 79,166 Provision for credit losses 5,399 1,534 (4,155) Noninterest expense Personnel 35,829 34,340 35,541 Technology, telecommunications and equipment 3,920 3,375 3,227 Occupancy 2,884 2,881 2,968 Operating losses 1,183 6,984 1,568 Professional and outside services 5,085 5,188 5,723 Advertising and promotion 812 505 600 Other (1) 5,849 3,932 4,131 Total noninterest expense 55,562 57,205 53,758 Income before income tax expense 21,636 15,629 29,563 Income tax expense (1) 2,607 2,251 5,764 Net income before noncontrolling interests 19,029 13,378 23,799 Less: Net income (loss) from noncontrolling interests (113) (299) 1,690 Wells Fargo net income (1) $ 19,142 13,677 22,109 Less: Preferred stock dividends and other 1,160 1,115 1,291 Wells Fargo net income applicable to common stock $ 17,982 12,562 20,818 Per share information Earnings per common share $ 4.88 3.30 5.13 Diluted earnings per common share 4.83 3.27 5.08 Average common shares outstanding 3,688.3 3,805.2 4,061.9 Diluted average common shares outstanding 3,720.4 3,837.0 4,096.2" ]

[ "Term/Acronym Definition Displacement (Applicable only to US Participants) A position elimination, substantial position change or other qualifying event described in the Wells Fargo & Company Severance Plan (the “Severance Plan”) resulting in the termination of the Participant’s employment. Earn or Earned An Award will be deemed “Earned” under the Plan when all of the terms and conditions under the Plan have been satisfied with respect to an Award, including: 1. the Participant’s manager has determined the Participant has met the criteria set forth in Section IV; 2. the Participant’s manager has completed an Award recommendation for the Participant; 3. the aggregate recommendations for the business have been approved by the Operating Committee member; and 4. the HRC has approved Plan funding and authorized the payment of Awards. In-Year payments for deceased Participants do not require the HRC approval of Plan funding prior to payment of the Award. Eligibility Date September 30 of each Plan Year Employer The Wells Fargo entity that employs the Participant. Executive Officer Executive Officers shall be those persons designated “officers” by the Wells Fargo & Company’s Board of Directors for purposes of Section 16 of the Exchange Act and the rules thereunder (“Section 16”). Additionally, any Operating Committee Member who is not designated an “officer” under Section 16 shall be considered an Executive Officer for purposes of this Plan. Fixed Term Employee A person who is an employee of Wells Fargo & Company or any of its subsidiaries on a temporary contract with a defined contract end date (unless they are in the flexible or intern classification). Employees are generally considered one of the following: 1. Full-time: with standard hours of 30 or more hours per week (unless in the flexible or intern classification). 2. Part-time: with standard hours of at least 17.5 and less than 30 hours per week are classified as “part-time” (unless in the flexible or intern classification). Standard hours and the number of hours actually worked may vary somewhat for part-time employees in a nonexempt or non-overtime eligible position, depending on business needs. Non-US employee hours per week may be different based on the location. Good Leaver Event (Applicable only to non-US Participants) For the purpose of Section VII, B, c, vi, the following reasons are Good Leaver Events: 1. A Participant who is absent from work due to injury, ill-health, or disability for a period of 182 days (whether or not consecutive) in any period of twelve (12) consecutive months. 2. A Participant’s office or employment, by the virtue of which the participant is eligible for an Award, being transferred to a person or entity that is not an affiliated company of Wells Fargo. 3. Redundancy, where Wells Fargo has determined that the Participant’s position is no longer necessary and shall be discontinued and is expressly dismissed by reason of “redundancy”. For the avoidance of doubt, the Participant is not redundant if, in the view of Wells Fargo, they have been offered reasonable alternative employment or if their employment is terminated without Cause in circumstances other than the discontinuance of the Participant’s position." ]

[ "Table 2: Ratios and Per Common Share Data (1) Year ended December 31, 2023 2022 2021 Performance ratios Return on average assets (ROA) (2) 1.02 % 0.72 1.14 Return on average equity (ROE) (3) 11.0 7.8 12.3 Return on average tangible common equity (ROTCE) (4) 13.1 9.3 14.8 Efficiency ratio (5) 67 77 68 Capital and other metrics (6) Wells Fargo common stockholders’ equity to assets 8.61 8.56 8.63 Total equity to assets 9.70 9.69 9.75 Risk-based capital ratios and components: Standardized Approach: Common Equity Tier 1 (CET1) 11.43 10.60 11.35 Tier 1 capital 12.98 12.11 12.89 Total capital 15.67 14.82 15.84 Risk-weighted assets (RWAs) (in billions) $ 1,231.7 1,259.9 1,239.0 Advanced Approach: Common Equity Tier 1 (CET1) 12.63 % 12.00 12.60 Tier 1 capital 14.34 13.72 14.31 Total capital 16.40 15.94 16.72 Risk-weighted assets (RWAs) (in billions) $ 1,114.3 1,112.3 1,116.1 Tier 1 leverage ratio 8.50 % 8.26 8.34 Supplementary Leverage Ratio (SLR) 7.09 6.86 6.89 Total Loss Absorbing Capacity (TLAC) Ratio (7) 25.05 23.27 23.03 Liquidity Coverage Ratio (LCR) (8) 125 122 118 Average balances: Average Wells Fargo common stockholders’ equity to average assets 8.67 8.53 8.69 Average total equity to average assets 9.80 9.67 9.81 Per common share data Dividend payout ratio (9) 26.9 33.6 11.8 Book value (10) $ 46.25 41.98 43.26" ]