Employee Benefits

9 Months Ended

Sep. 30, 2019

Defined Benefit Plan [Abstract]

Employee Benefits

Note 19: Employee Benefits

We sponsor a frozen noncontributory qualified defined benefit retirement plan, the Wells Fargo & Company Cash Balance Plan (Cash Balance Plan), which covers eligible employees of Wells Fargo. The Cash Balance Plan was frozen on July 1, 2009, and no new benefits accrue after that date. For additional information on our pension and postretirement plans, including

plan assumptions, investment strategy and asset allocation, projected benefit payments, and valuation methodologies used for assets measured at fair value, see Note 22 (Employee Benefits and Other Expenses) in our 2018 Form 10-K.

Table 19.1 presents the components of net periodic benefit cost.

Table 19.1: Net Periodic Benefit Cost

	2019						2018
	Pension benefits						Pension benefits
(in millions)	Qualified			Non-qualified	Other benefits		Qualified		Non-qualified	Other benefits
Quarter ended September 30,
Service cost	$	3		—	—		2		—	—
Interest cost (1)	105			5	6		97		5	6
Expected return on plan assets (1)	(142		)	—	(7	)	(160	)	—	(8	)
Amortization of net actuarial loss (gain) (1)	37			3	(5	)	32		4	(4	)
Amortization of prior service credit (1)	—			—	(2	)	—		—	(3	)
Settlement loss (1)	—			—	—		—		—	—
Net periodic benefit cost (income)	$	3		8	(8	)	(29	)	9	(9	)
Nine months ended September 30,
Service cost	$	9		—	—		5		—	—
Interest cost (1)	314			16	17		293		16	16
Expected return on plan assets (1)	(426		)	—	(21	)	(481	)	—	(23	)
Amortization of net actuarial loss (gain) (1)	111			8	(13	)	98		10	(13	)
Amortization of prior service credit (1)	—			—	(7	)	—		—	(8	)
Settlement loss (1)	—			2	—		—		3	—
Net periodic benefit cost (income)	$	8		26	(24	)	(85	)	29	(28	)

(1)

Balances are reported in other noninterest expense on the consolidated statement of income.