Company: WFC-PC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000072971-25-000201
Chunk: 40

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 40
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 presents balances for our operating leases.Table 8.2:  Operating Lease Right-of-Use (ROU) Assets and Lease Liabilities(in millions)Jun 30, 2025Dec 31, 2024ROU assets$3,687 3,850 Lease liabilities4,230 4,423 Total lease costs, which are included in occupancy expense, were $283 million and $303 million for the quarters ended June 30, 2025 and 2024, respectively, and $593 million and $596 million for the first half of 2025 and 2024, respectively.

88Wells Fargo & Company

Note 9:  Preferred Stock and Common StockWe are authorized to issue 20 million shares of preferred stock, without par value. Outstanding preferred shares rank senior to common shares both as to the payment of dividends and liquidation preferences but have no general voting rights. All outstanding preferred stock with a liquidation preference value, except for Series L Preferred Stock, may be redeemed for the liquidation preference value, plus any accrued but unpaid dividends, on any dividend payment date on or after the earliest redemption date for that series. Additionally, these same series of preferred stock may be redeemed following a “regulatory capital treatment event,” as described in the terms of each series. Capital actions, including redemptions of our preferred stock, may be subject to regulatory approval or conditions.In addition, we are authorized to issue 4 million shares of preference stock, without par value. We have not issued any preference shares under this authorization. If issued, preference shares would be limited to one vote per share.In June 2025, we redeemed our Preferred Stock, Series U.Table 9.1 summarizes information about our preferred stock.Table 9.1:  Preferred Stock June 30, 2025December 31, 2024(in millions, except shares)Earliest redemption dateShares authorizedand designatedShares issued and outstandingLiquidation preference valueCarryingvalue Shares authorizedand designatedSharesissued and outstandingLiquidation preference valueCarrying valueDEP SharesDividend Equalization Preferred Shares (DEP)Currently redeemable97,000 96,546 $— — 97,000 96,546 $— — Preferred Stock:Series L (1)7.50% Non-Cumulative Perpetual Convertible Class A—4,025,000 3,967,903 3,968 3,200