Other Comprehensive Income (Tables)

9 Months Ended

Sep. 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 September 30,								Nine months ended September 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	$	3,754	(923)	2,831		(2,790)	686	(2,104)	$	2,782	(686)	2,096		(2,989)	737	(2,252)
Reclassification of net (gains) losses to net income	590		(147)	443		152	(37)	115	853		(210)	643		421	(104)	317
Net change	4,344		(1,070)	3,274		(2,638)	649	(1,989)	3,635		(896)	2,739		(2,568)	633	(1,935)
Derivatives and hedging activities:
Fair Value Hedges:
Change in fair value of excluded components on fair value hedges (1)	5		(1)	4		9	(2)	7	16		(4)	12		20	(5)	15
Cash Flow Hedges:
Net unrealized gains (losses) arising during the period on cash flow hedges	1,094		(270)	824		(757)	187	(570)	(136)		34	(102)		(1,374)	340	(1,034)
Reclassification of net (gains) losses to net income	222		(56)	166		206	(50)	156	677		(168)	509		504	(124)	380
Net change	1,321		(327)	994		(542)	135	(407)	557		(138)	419		(850)	211	(639)
Defined benefit plans adjustments:
Net actuarial and prior service gains (losses) arising during the period	—		—	—		—	—	—	—		—	—		—	—	—
Reclassification of amounts to noninterest expense (2)	27		(6)	21		27	(6)	21	82		(19)	63		82	(19)	63
Net change	27		(6)	21		27	(6)	21	82		(19)	63		82	(19)	63
Debit valuation adjustments (DVA) and other:
Net unrealized gains (losses) arising during the period	(1)		—	(1)		(13)	3	(10)	(32)		7	(25)		(22)	5	(17)
Reclassification of net (gains) losses to net income	—		—	—		—	—	—	—		—	—		—	—	—
Net change	(1)		—	(1)		(13)	3	(10)	(32)		7	(25)		(22)	5	(17)
Foreign currency translation adjustments:
Net unrealized gains (losses) arising during the period	61		—	61		(48)	(1)	(49)	13		(1)	12		17	(2)	15
Reclassification of net (gains) losses to net income	—		—	—		—	—	—	—		—	—		—	—	—
Net change	61		—	61		(48)	(1)	(49)	13		(1)	12		17	(2)	15
Other comprehensive income (loss)	$	5,752	(1,403)	4,349		(3,214)	780	(2,434)	$	4,255	(1,047)	3,208		(3,341)	828	(2,513)
Less: Other comprehensive income from noncontrolling interests, net of tax				—				2				—				2
Wells Fargo other comprehensive income (loss), net of tax				$	4,349			(2,436)				$	3,208			(2,515)

(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 September 30, 2024


Balance, beginning of period	$	(9,099)	(53)	(1,371)	(1,791)	(39)	(368)	(12,721)
Net unrealized gains (losses) arising during the period	2,831		4	824	—	(1)	61	3,719
Amounts reclassified from accumulated other comprehensive income	443		—	166	21	—	—	630
Net change	3,274		4	990	21	(1)	61	4,349
Less: Other comprehensive income from noncontrolling interests	—		—	—	—	—	—	—
Balance, end of period	$	(5,825)	(49)	(381)	(1,770)	(40)	(307)	(8,372)
Quarter ended September 30, 2023


Balance, beginning of period	$	(9,781)	(69)	(1,423)	(1,859)	7	(316)	(13,441)
Net unrealized gains (losses) arising during the period	(2,104)		7	(570)	—	(10)	(49)	(2,726)
Amounts reclassified from accumulated other comprehensive income	115		—	156	21	—	—	292
Net change	(1,989)		7	(414)	21	(10)	(49)	(2,434)
Less: Other comprehensive income from noncontrolling interests	—		—	—	—	—	2	2
Balance, end of period	$	(11,770)	(62)	(1,837)	(1,838)	(3)	(367)	(15,877)
Nine months ended September 30, 2024


Balance, beginning of period	$	(8,564)	(61)	(788)	(1,833)	(15)	(319)	(11,580)
Net unrealized gains (losses) arising during the period	2,096		12	(102)	—	(25)	12	1,993
Amounts reclassified from accumulated other comprehensive income	643		—	509	63	—	—	1,215
Net change	2,739		12	407	63	(25)	12	3,208
Less: Other comprehensive income from noncontrolling interests	—		—	—	—	—	—	—
Balance, end of period	$	(5,825)	(49)	(381)	(1,770)	(40)	(307)	(8,372)
Nine months ended September 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 (losses) arising during the period	(2,252)		15	(1,034)	—	(17)	15	(3,273)
Amounts reclassified from accumulated other comprehensive income	317		—	380	63	—	—	760
Net change	(1,935)		15	(654)	63	(17)	15	(2,513)
Less: Other comprehensive income from noncontrolling interests	—		—	—	—	—	2	2
Balance, end of period	$	(11,770)	(62)	(1,837)	(1,838)	(3)	(367)	(15,877)

(1)At September 30, 2024 and 2023, accumulated other comprehensive loss includes unamortized after-tax unrealized losses of $3.2 billion and $3.6 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.