Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 1

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 1
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 presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim financial statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our 2024 Form 10-K.Accounting Standards Adopted in 2025We did not adopt any accounting standards in first quarter 2025.Subsequent Events We have evaluated the effects of events that have occurred subsequent to March 31, 2025, and there have been no material events that would require recognition in our first quarter 2025 consolidated financial statements or disclosure in the Notes to the consolidated financial statements.

Wells Fargo & Company59

Note 2:  Trading ActivitiesTable 2.1 presents a summary of our trading assets and liabilities measured at fair value through earnings.Table 2.1:  Trading Assets and Liabilities(in millions)  Mar 31,2025Dec 31,2024Trading assets:Debt securities$125,037 121,205 Equity securities23,320 19,270 Loans held for sale3,330 3,587 Gross trading derivative assets71,861 97,696 Netting (1)(53,506)(77,926)Total trading derivative assets18,355 19,770 Total trading assets170,042 163,832 Trading liabilities:Short sale and other liabilities34,032 28,744 Interest-bearing deposits173 318 Long-term debt4,069 3,495 Gross trading derivative liabilities73,070 96,783 Netting (1)(62,761)(81,345)Total trading derivative liabilities10,309 15,438 Total trading liabilities$48,583 47,995 (1)Represents balance sheet netting for trading derivative asset and liability balances, and trading portfolio level valuation adjustments. See Note 11 (Derivatives) for additional information.Table 2.2 provides net interest income earned from trading assets and liabilities, and net gains and losses due to the realized and unrealized gains and losses from trading activities. Net interest income also includes dividend income on trading securities and dividend expense on trading securities we have sold, but not yet purchased.Table 2.2:  Net Interest Income and Net Gains (Losses) from Trading ActivitiesQuarter ended March 31,(in millions)20252024Net interest income:Interest income (1)$