Company: WFC-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000072971-25-000253
Chunk: 156

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 7
Chunk 156
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Note 7:  Intangible Assets and Other AssetsIntangible assets include MSRs, goodwill, and customer relationship and other intangibles. For additional information on MSRs, see Note 6 (Mortgage Banking Activities). Customer relationship and other intangibles, which are included in other assets on our consolidated balance sheet, had a net carrying value of $863 million and $73 million at September 30, 2025, and December 31, 2024, respectively.In April 2025, we acquired the remaining interest in our merchant services joint venture and recognized an intangible asset of $877 million related to the merchant relationships. We are amortizing this intangible asset on a straight-line basis over seven years. Estimated future amortization expense for this intangible asset is $31 million for the remainder of 2025, and $125 million for each of the years ended December 31, 2026, 2027, 2028, 2029, and 2030, respectively.Table 7.1 shows the allocation of goodwill to our reportable operating segments.Table 7.1:  Goodwill(in millions) Consumer Banking and LendingCommercial BankingCorporate and Investment BankingWealth and Investment ManagementCorporateConsolidated CompanyDecember 31, 2024$16,418 2,925 5,375 344 105 25,167 Divestitures (1)— — (101)— — (101)Foreign currency translation— 3 — — — 3 September 30, 2025$16,418 2,928 5,274 344 105 25,069 (1)Related to the divestiture of the non-agency portion of our commercial mortgage third-party servicing business in first quarter 2025.Table 7.2 presents the components of other assets.Table 7.2:  Other Assets(in millions)Sep 30, 2025Dec 31, 2024Corporate/bank-owned life insurance (1)$19,756 19,751 Accounts receivable (2)20,882 19,608 Interest receivable:AFS and HTM debt securities1,578 1,544 Loans3,368 3,420 Trading and other1,893 1,371 Operating lease assets (lessor) (3)5,098 5,286 Operating lease ROU assets (lessee)