Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 50

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 50
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 items no longer designated(in millions)Carrying amount of assets/(liabilities) (1)(2)Hedge accountingbasis adjustmentassets/(liabilities) (3)Carrying amount of assets/(liabilities) (2)Hedge accounting basis adjustmentassets/(liabilities)March 31, 2025Available-for-sale debt securities (4)(5)$47,521 (952)10,014 284 Other assets (6)9,747 977 — — Interest-bearing deposits(43,952)(98)— — Long-term debt(154,333)10,772 — — December 31, 2024Available-for-sale debt securities (4)(5)$37,410 (1,546)10,778 312 Other assets (6)4,787 100 — — Interest-bearing deposits(54,084)(56)— — Long-term debt(151,743)12,858 — — (1)Does not include the carrying amount of hedged items where only foreign currency risk is the designated hedged risk. The carrying amount excluded $271 million and $260 million for AFS debt securities where only foreign currency risk is the designated hedged risk as of March 31, 2025, and December 31, 2024, 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 $538 million and $566 million of long-term debt cumulative basis adjustments as of March 31, 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 March 31, 2025, and December 31, 2024, the amortized cost of closed portfolios of AFS debt securities using the portfolio layer method was $24.7 billion and $18.6 billion, respectively, of which $13.5 billion and $9.0 billion was designated as hedged, respectively. The balance includes cumulative basis adjustments of $59 million and $(43) million as of March 31,