Company: WFC-PC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000072971-25-000201
Chunk: 94

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 94
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 such as technology, telecommunications and equipment expense, occupancy expense, and professional and outside services expense.TAXABLE-EQUIVALENT ADJUSTMENTS.  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.

Wells Fargo & Company117

Note 17:  Operating Segments (continued)

Table 17.1 presents our results by operating segment.Table 17.1:  Operating Segments(in millions)Consumer Banking and LendingCommercial BankingCorporate and Investment BankingWealth and Investment ManagementCorporateReconciling Items (1)ConsolidatedCompanyQuarter ended June 30, 2025Net interest income (2)$7,199 1,983 1,815 891 (103)(77)11,708 Noninterest income2,029 950 2,858 3,007 662 (392)9,114 Total revenue9,228 2,933 4,673 3,898 559 (469)20,822 Provision for credit losses945 (43)103 12 (12)— 1,005 Personnel expense3,475 982 1,452 2,630 170 — 8,709 Nonpersonnel expense2,324 537 799 615 395 — 4,670 Total noninterest expense5,799 1,519 2,251 3,245 565 — 13,379 Income (loss) before income tax expense (benefit)2,484 1,457 2,319 641 6 (469)6,438 Income tax expense (benefit)621 369 582 161 (348)(469)916 Net income before noncontrolling interests1,863 1,088 1,737 480 354 — 5,522 Less: Net income from noncontrolling interests— 2 — — 26 — 28 Net income$1,863 1,086 1,737 480 328 — 5,494