Company: WFC-PC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000072971-25-000201
Chunk: 84

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 84
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1)Long-term debtAccrued expenses and other liabilitiesJune 30, 2025Commercial and industrial loans and leases$1,727 1,568 159 — (133)Credit card securitizations9,464 9,284 49 (3,772)(8)Other1,109 — 1,106 — (3)Total consolidated VIEs$12,300 10,852 1,314 (3,772)(144)December 31, 2024Commercial and industrial loans and leases$1,737 1,570 167 — (118)Credit card securitizations9,803 9,615 25 (2,240)(5)Other479 — 479 — (1)Total consolidated VIEs$12,019 11,185 671 (2,240)(124)(1)All other assets includes loans held for sale and other assets.

Other TransactionsIn addition to the transactions included in the previous tables, we used wholly-owned trust preferred security VIEs to issue debt securities or preferred equity exclusively to third-party investors. As the sole assets of the VIEs were receivables from us, we did not consolidate the VIEs even though we owned all of the voting equity shares of the VIEs, had fully guaranteed the obligations of the VIEs, and had the right to redeem the third-party securities under certain circumstances. On our consolidated balance sheet, we reported the debt securities issued to the VIEs as long-term junior subordinated debt with a carrying value of $0 and $429 million at June 30, 2025, and December 31, 2024, respectively. In second quarter 2025, we redeemed the long-term junior subordinated debt, which triggered the redemption of the securities issued by the VIEs to third-party investors.

Wells Fargo & Company111

Note 14:  Guarantees and Other CommitmentsGuarantees are contracts that contingently require us to make payments to a guaranteed party based on an event or a change in an underlying asset, liability, rate or index. For additionaldescriptions of our guarantees, see Note 17 (Guarantees and Other Commitments) in our 2024 Form 10-K. Table 14.1 shows carrying value and maximum exposure to loss on our guarantees.Table 14.1:  Guarantees –