Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 77

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 77
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Long-term debtAccrued expenses and other liabilitiesMarch 31, 2025Commercial and industrial loans and leases$1,731 1,561 170 — (130)Credit card securitizations9,357 9,200 26 (2,257)(4)Other662 — 660 — (2)Total consolidated VIEs$11,750 10,761 856 (2,257)(136)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 have 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 are receivables from us, we do not consolidate the VIEs even though we own all of the voting equity shares of the VIEs, have fully guaranteed the obligations of the VIEs, and may have 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 $432 million and $429 million at March 31, 2025, and December 31, 2024, respectively.

108Wells Fargo & Company

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 – Carrying Value and Maximum Exposure to Loss Maximum exposure to loss (in millions)Carrying value of obligationExpires in one year or lessExpires after one year through three yearsExpires after three years through