Company: WFC-PC
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0000072971-25-000253
Chunk: 103

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 1
Chunk 103
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 (losses) from trading activities (2)— (1)4,158 123 54 — 4,334 Net losses from debt securities (2)— — — — (472)— (472)Net gains (losses) from equity securities (2)(2)25 15 15 302 — 355 Lease income (2)— 408 122 — 460 — 990 Other (2)(4)275 749 455 60 487 (1,091)935 Total noninterest income5,938 2,759 8,850 8,861 761 (1,091)26,078 Total revenue$27,221 9,607 14,731 11,478 234 (1,353)61,918 (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 $240 million and $695 million for the third quarter and first nine months of 2025, respectively, and $238 million and $701 million for the third quarter and first nine months of 2024, respectively.(4)The cost of credit card rewards and rebates of $737 million and $2.1 billion for the third quarter and first nine months of 2025, respectively, and $694 million and $2.0 billion for the third quarter and first nine months 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 non