Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 152

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 11
Chunk 152
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,121  Exchange traded323 671 301 327  Total commodity contracts3,843 3,024 2,237 1,448  Equity contracts OTC5,508 7,900 6,139 9,977  Exchange traded6,563 4,716 7,195 4,271  Total equity contracts12,071 12,616 13,334 14,248  Foreign exchange contracts OTC29,868 32,356 51,541 50,654  Total foreign exchange contracts29,868 32,356 51,541 50,654  Credit contracts OTC95 50 91 46  Total credit contracts95 50 91 46 Total derivatives subject to enforceable master netting arrangements, gross69,457 72,999 94,692 95,429  Less: Gross amounts offset Counterparty netting (1)(50,002)(49,806)(69,080)(68,945) Cash collateral netting(4,108)(14,752)(9,617)(14,069)Total derivatives subject to enforceable master netting arrangements, net15,347 8,441 15,995 12,415 Derivatives not subject to enforceable master netting arrangements3,171 2,668 4,017 3,920 Total derivatives recognized in consolidated balance sheet, net18,518 11,109 20,012 16,335  Non-cash collateral(3,841)(1,441)(4,024)(2,853)Total derivatives, net$14,677 9,668 15,988 13,482 (1)Represents amounts with counterparties subject to enforceable master netting arrangements that have been offset in our consolidated balance sheet, including portfolio level valuation adjustments related to customer accommodation and other trading derivatives. These valuation adjustments were primarily related to interest rate and foreign exchange contracts. Table 11.7 and Table 11.8 present information related to derivative valuation adjustments.Fair Value and Cash Flow HedgesFor fair value hedges, we use interest rate swaps to convert certain of our fixed-rate long-term debt and time certificates of deposit to floating rates to hedge our exposure to interest rate risk. We also enter into cross-currency swaps, cross-currency interest rate swaps and forward contracts to hedge our exposure to