Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 89

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 89
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200 124,582 47,636 — 1,361,728 Quarter ended March 31, 2024Loans (average)$329,729 223,921 283,243 82,483 8,699 — 928,075 Assets (average)366,381 246,242 550,933 89,935 663,483 — 1,916,974 Deposits (average)773,248 164,027 183,273 101,474 119,606 — 1,341,628 Loans (period-end)328,007 227,660 275,597 82,999 8,521 — 922,784 Assets (period-end)366,036 249,963 553,105 90,648 699,401 — 1,959,153 Deposits (period-end)794,160 168,547 195,969 102,478 121,993 — 1,383,147 (1)Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for affordable housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company’s consolidated financial results.(2)Net interest income is interest earned on assets minus the interest paid on liabilities to fund those assets. Segment interest earned includes actual interest income on segment assets as well as a funding credit for their deposits. Segment interest paid on liabilities includes actual interest expense on segment liabilities as well as a funding charge for their assets.

Wells Fargo & Company115

Note 18:  Revenue and ExpensesRevenueOur revenue includes net interest income on financial instruments and noninterest income. Table 18.1 presents our revenue by operating segment. For additional description of ouroperating segments, including additional financial information and the underlying management accounting process, seeNote 17 (Operating Segments). For a description of our revenue from contracts with customers, see Note 21 (Revenue and Expenses) in our 2024 Form 10-K.Table 18.1:  Revenue by Operating Segment(in millions)Consumer Banking and LendingCommercial BankingCorporate and Investment BankingWealth and Investment ManagementCorporate