Company: WFC-PC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000072971-25-000201
Chunk: 102

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 102
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Net losses from debt securities (2)— — — — (25)— (25)Net gains from equity securities (2)— 14 14 15 55 — 98 Lease income (2)— 282 122 — 309 — 713 Other (2)(4)198 380 274 25 371 (632)616 Total noninterest income3,963 1,715 5,848 5,825 683 (632)17,402 Total revenue$18,097 6,274 9,820 7,600 571 (810)41,552 (1)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.(2)These revenue types are related to financial assets and liabilities, including loans, leases, securities and derivatives, with additional details included in other footnotes to our financial statements.(3)We earned trailing commissions of $222 million and $455 million for the second quarter and first half of 2025, respectively, and $232 million and $463 million for the second quarter and first half of 2024, respectively.(4)The cost of credit card rewards and rebates of $737 million and $1.4 billion for the second quarter and first half of 2025, respectively, and $690 million and $1.3 billion for the second quarter and first half of 2024, respectively, are presented net against the related revenue. In April 2025, we completed our acquisition of the remaining interest in our merchant services joint venture and recognized a net gain of $253 million in other noninterest income in Corporate. Following the acquisition, the revenue from this business has been included in card fees. Prior to the acquisition, our share of the net earnings of the joint venture, which was accounted for as an equity method investment, was included in other noninterest income.

Wells Fargo & Company121

Note 18:  Revenue and Expenses (continued)

Expenses

OPERATING LOSSES.  Operating losses consist of expenses related to:•Legal actions such as