Other Comprehensive Income (Tables)

6 Months Ended

Jun. 30, 2024

Accumulative Other Comprehensive Income Balances [Abstract]

Table 21.1 provides the components of other comprehensive income (OCI), reclassifications to net income by income statement line item, and the related tax effects.

Table 21.1: Summary of Other Comprehensive Income


	Quarter ended June 30,								Six months ended June 30,
	2024					2023			2024					2023
(in millions)	Before tax		Tax effect	Net of tax		Before tax	Tax effect	Net of tax	Before tax		Tax effect	Net of tax		Before tax	Tax effect	Net of tax
Debt securities:
Net unrealized gains (losses) arising during the period	$	(300)	72	(228)		(557)	138	(419)	$	(972)	237	(735)		(199)	51	(148)
Reclassification of net (gains) losses to net income	151		(36)	115		148	(37)	111	263		(63)	200		269	(67)	202
Net change	(149)		36	(113)		(409)	101	(308)	(709)		174	(535)		70	(16)	54
Derivatives and hedging activities:
Fair Value Hedges:
Change in fair value of excluded components on fair value hedges (1)	7		(3)	4		5	(1)	4	11		(3)	8		11	(3)	8
Cash Flow Hedges:
Net unrealized gains (losses) arising during the period on cash flow hedges	(322)		80	(242)		(1,001)	248	(753)	(1,230)		304	(926)		(617)	153	(464)
Reclassification of net (gains) losses to net income	211		(51)	160		185	(46)	139	455		(112)	343		298	(74)	224
Net change	(104)		26	(78)		(811)	201	(610)	(764)		189	(575)		(308)	76	(232)
Defined benefit plans adjustments:
Net actuarial and prior service gains (losses) arising during the period	—		—	—		—	—	—	—		—	—		—	—	—
Reclassification of amounts to noninterest expense (2)	28		(7)	21		28	(7)	21	55		(13)	42		55	(13)	42
Net change	28		(7)	21		28	(7)	21	55		(13)	42		55	(13)	42
Debit valuation adjustments (DVA) and other:
Net unrealized gains (losses) arising during the period	(8)		1	(7)		(13)	3	(10)	(31)		7	(24)		(9)	2	(7)
Reclassification of net (gains) losses to net income	—		—	—		—	—	—	—		—	—		—	—	—
Net change	(8)		1	(7)		(13)	3	(10)	(31)		7	(24)		(9)	2	(7)
Foreign currency translation adjustments:
Net unrealized gains (losses) arising during the period	2		—	2		39	—	39	(48)		(1)	(49)		65	(1)	64
Reclassification of net (gains) losses to net income	—		—	—		—	—	—	—		—	—		—	—	—
Net change	2		—	2		39	—	39	(48)		(1)	(49)		65	(1)	64
Other comprehensive income (loss)	$	(231)	56	(175)		(1,166)	298	(868)	$	(1,497)	356	(1,141)		(127)	48	(79)
Less: Other comprehensive income from noncontrolling interests, net of tax				—				1				—				—
Wells Fargo other comprehensive loss, net of tax				$	(175)			(869)				$	(1,141)			(79)

(1)Represents changes in fair value of cross-currency swaps attributable to changes in cross-currency basis spreads, which are excluded from the assessment of hedge effectiveness and recorded in other comprehensive income.

(2)These items are included in the computation of net periodic benefit cost (see Note 19 (Employee Benefits) for additional information).

Accumulated OCI Balances

Table 21.2 provides the accumulated OCI balance activity on an after-tax basis.

Table 21.2: Accumulated OCI Balances


(in millions)	Debt securities (1)		Fair value hedges (2)	Cash flow hedges (3)	Defined benefit plans adjustments	Debit valuation adjustments (DVA) and other	Foreign currency translation adjustments	Accumulated other comprehensive income (loss)
Quarter ended June 30, 2024


Balance, beginning of period	(8,986)		(57)	(1,289)	(1,812)	(32)	(370)	(12,546)
Net unrealized gains (losses) arising during the period	(228)		4	(242)	—	(7)	2	(471)
Amounts reclassified from accumulated other comprehensive income	115		—	160	21	—	—	296
Net change	(113)		4	(82)	21	(7)	2	(175)
Less: Other comprehensive income from noncontrolling interests	—		—	—	—	—	—	—
Balance, end of period (3)	$	(9,099)	(53)	(1,371)	(1,791)	(39)	(368)	(12,721)
Quarter ended June 30, 2023


Balance, beginning of period	(9,473)		(73)	(809)	(1,880)	17	(354)	(12,572)
Net unrealized gains arising during the period	(419)		4	(753)	—	(10)	39	(1,139)
Amounts reclassified from accumulated other comprehensive income	111		—	139	21	—	—	271
Net change	(308)		4	(614)	21	(10)	39	(868)
Less: Other comprehensive loss from noncontrolling interests	—		—	—	—	—	1	1
Balance, end of period (3)	$	(9,781)	(69)	(1,423)	(1,859)	7	(316)	(13,441)
Six months ended June 30, 2024


Balance, beginning of period	$	(8,564)	(61)	(788)	(1,833)	(15)	(319)	(11,580)
Net unrealized gains (losses) arising during the period	(735)		8	(926)	—	(24)	(49)	(1,726)
Amounts reclassified from accumulated other comprehensive income	200		—	343	42	—	—	585
Net change	(535)		8	(583)	42	(24)	(49)	(1,141)
Less: Other comprehensive income from noncontrolling interests	—		—	—	—	—	—	—
Balance, end of period	$	(9,099)	(53)	(1,371)	(1,791)	(39)	(368)	(12,721)
Six months ended June 30, 2023

Balance, beginning of period	$	(9,835)	(77)	(1,183)	(1,901)	(6)	(380)	(13,382)
Transition adjustment	—		—	—	—	20	—	20
Balance, beginning of period	(9,835)		(77)	(1,183)	(1,901)	14	(380)	(13,362)
Net unrealized gains arising during the period	(148)		8	(464)	—	(7)	64	(547)
Amounts reclassified from accumulated other comprehensive income	202		—	224	42	—	—	468
Net change	54		8	(240)	42	(7)	64	(79)
Less: Other comprehensive loss from noncontrolling interests	—		—	—	—	—	—	—
Balance, end of period	$	(9,781)	(69)	(1,423)	(1,859)	7	(316)	(13,441)

(1)At June 30, 2024 and 2023, accumulated other comprehensive loss includes unamortized after-tax unrealized losses of $3.3 billion and $3.7 billion, respectively, associated with the transfer of securities from AFS to HTM. These amounts are subsequently amortized into earnings over the same period as the related unamortized premiums and discounts.

(2)Substantially all of the amounts for fair value hedges are foreign exchange contracts.

(3)Substantially all of the amounts for cash flow hedges are interest rate contracts.