Company: WFC-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000072971-25-000253
Chunk: 40

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 40
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 lease financing$239 233 $705 672 Other lease revenue:Lease financing22 23 68 69 Operating leases229 239 696 729 Other lease-related revenue (1)15 15 38 192 Noninterest income on leases266 277 802 990 Total leasing revenue$505 510 $1,507 1,662 (1)    Includes net gains or (losses) on disposition of assets leased under operating leases or lease financings.As a LesseeTable 8.2 presents balances for our operating leases.Table 8.2:  Operating Lease Right-of-Use (ROU) Assets and Lease Liabilities(in millions)Sep 30, 2025Dec 31, 2024ROU assets$3,659 3,850 Lease liabilities4,190 4,423 Total lease costs, which are included in occupancy expense, were $283 million and $309 million for the quarters ended September 30, 2025 and 2024, respectively, and $876 million and $905 million for the first nine months of 2025 and 2024, respectively.

Wells Fargo & Company87

Note 9:  Preferred Stock and Common StockWe are authorized to issue 20 million shares of preferred stock, without par value. Outstanding preferred shares rank senior to common shares both as to the payment of dividends and liquidation preferences but have no general voting rights. All outstanding preferred stock with a liquidation preference value, except for Series L Preferred Stock, may be redeemed for the liquidation preference value, plus any accrued but unpaid dividends, on any dividend payment date on or after the earliest redemption date for that series. Additionally, these same series of preferred stock may be redeemed following a “regulatory capital treatment event,” as described in the terms of each series. Capital actions, including redemptions of our preferred stock, may be subject to regulatory approval or conditions.In addition, we are authorized to issue 4 million shares of preference stock, without par value. We have not issued any preference shares under this authorization. If issued, preference shares would be limited to one vote per share.In June 2025, we redeemed our Preferred Stock, Series U.Table 9.1 summarizes information about our preferred stock.Table 9.1:  Preferred Stock September 30, 2025December 31, 2024(in millions, except shares)Earliest redemption dateShares