Company: WFC-PC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000072971-25-000201
Chunk: 72

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 72
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1,216 384 1,600 Loans, net (2)882,361 — 3,211 845,016 848,227 Equity securities (cost method)3,782 — — 3,868 3,868 Total financial assets$1,431,329 204,998 298,891 852,276 1,356,165 Financial liabilitiesDeposits (3)$139,547 — 63,497 75,692 139,189 Short-term borrowings108,540 — 108,547 — 108,547 Long-term debt (4)169,567 — 171,747 2,334 174,081 Total financial liabilities$417,654 — 343,791 78,026 421,817 (1)Amounts consist of financial instruments for which carrying value approximates fair value.(2)Excludes lease financing in loans and loans held for sale, net of allowance for credit losses, of $15.9 billion and $16.2 billion at June 30, 2025, and December 31, 2024, respectively.(3)Excludes deposit liabilities with no defined or contractual maturity of $1.2 trillion at both June 30, 2025, and December 31, 2024.(4)Excludes obligations under finance leases of $14 million and $16 million at June 30, 2025, and December 31, 2024, respectively.

Wells Fargo & Company105

Note 13:  Securitizations and Variable Interest EntitiesInvolvement with Variable Interest Entities (VIEs)In the normal course of business, we enter into various types of on- and off-balance sheet transactions with special purpose entities (SPEs), which are corporations, trusts, limited liability companies or partnerships that are established for a limited purpose. SPEs are often formed in connection with securitization transactions whereby financial assets are transferred to an SPE. SPEs formed in connection with securitization transactions are generally considered variable interest entities (VIEs). The VIE may alter the risk profile of the asset by entering into derivative transactions or obtaining credit support, and issues various forms of interests in those assets to investors. When we transfer financial assets from our consolidated balance sheet to a VIE in connection with a securitization, we typically receive