Company: WFC-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000072971-25-000253
Chunk: 38

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 38
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 2029, and 2030, respectively.(3)Represents the reduction in the cash flows expected to be collected during the period, net of income accreted due to the passage of time, for residential MSRs measured using the fair value method.(4)Refer to the analysis of changes in residential MSRs presented in Table 6.1 in this Note for more detail.(5)See Note 11 (Derivatives) for additional information on economic hedges for residential MSRs.(6)Includes net losses of $(6) million and $(20) million in the third quarter and first nine months of 2025, respectively, and $(56) million and $(5) million in the third quarter and first nine months of 2024, respectively, related to derivatives used as economic hedges of mortgage loans held for sale and derivative loan commitments.

Wells Fargo & Company85

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