Company: WFC-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000072971-25-000253
Chunk: 56

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 56
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, respectively.(2)Represents the full carrying amount of the hedged asset or liability item as of the balance sheet date, except for circumstances in which only a portion of the asset or liability was designated as the hedged item in which case only the portion designated is presented.(3)The balance includes $488 million and $566 million of long-term debt cumulative basis adjustments as of September 30, 2025, and December 31, 2024, respectively, on terminated hedges whereby the hedged items have subsequently been re-designated into existing hedges.(4)Carrying amount represents the amortized cost.(5)At September 30, 2025, and December 31, 2024, the amortized cost of closed portfolios of AFS debt securities using the portfolio layer method was $28.9 billion and $18.6 billion, respectively, of which $14.4 billion and $9.0 billion was designated as hedged, respectively. The balance includes cumulative basis adjustments of $129 million and $(43) million as of September 30, 2025, and December 31, 2024, respectively, related to certain AFS debt securities designated as the hedged item in a fair value hedge using the portfolio layer method.(6)Other assets consists of hedged physical commodity inventory.Derivatives Not Designated as Hedging InstrumentsDerivatives not designated as hedging instruments include economic hedges and derivatives entered into for customer accommodation trading purposes.Economic hedge derivatives do not qualify for, or we have elected not to apply, hedge accounting. We use economic hedge derivatives to manage our non-trading exposures to interest rate risk, equity price risk, foreign currency risk, and credit risk.For additional information on other derivatives, see Note 14 (Derivatives) in our 2024 Form 10-K.Table 11.6 shows the net gains (losses) related to economic hedge derivatives. Gains (losses) on customer accommodation trading derivatives are excluded from Table 11.6. For additional information, see Note 2 (Trading Activities).Table 11.6:  Gains (Losses) on Economic Hedge DerivativesQuarter ended September 30,Nine months ended September 30,(in millions)2025202420252024Interest rate contracts (1)$53 392 $298 (37)Equity contracts (2)219 27 267 153 Foreign