Wells Fargo 2005 Annual Report Download - page 94

Download and view the complete annual report

Please find page 94 of the 2005 Wells Fargo annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

(in millions, except per share amounts) Year ended December 31,
2005 2004 2003
Net income $ 7,671 $ 7,014 $ 6,202
Less: Preferred stock dividends —
—
3
Net income applicable to common stock (numerator) $ 7,671 $ 7,014 $ 6,199
EARNINGS PER COMMON SHARE
Average common shares outstanding (denominator) 1,686.3 1,692.2 1,681.1
Per share $4.55 $ 4.15 $ 3.69
DILUTED EARNINGS PER COMMON SHARE
Average common shares outstanding 1,686.3 1,692.2 1,681.1
Add: Stock options 18.9 20.8 16.0
Restricted share rights .3 .4 .4
Diluted average common shares outstanding (denominator) 1,705.5 1,713.4 1,697.5
Per share $4.50 $ 4.09 $ 3.65
92
The table below shows earnings per common share and
diluted earnings per common share and reconciles the
numerator and denominator of both earnings per common
share calculations.
Note 17: Earnings Per Common Share
At December 31, 2005, 2004 and 2003, options to purchase
4.9 million, 3.3 million and 4.4 million shares, respectively,
were outstanding but not included in the calculation of earn-
ings per common share because the exercise price was higher
than the market price, and therefore they were antidilutive.