v3.25.4
Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2025
Long-Term Debt, Current and Noncurrent [Abstract]  
Long-Term Debt
Table 9.1 presents a summary of our long-term debt carrying values, which reflects unamortized debt discounts and premiums and hedge basis adjustments, unless we have elected the fair value option. See Note 13 (Derivatives) for additional information on qualifying hedge contracts and Note 14 (Fair Value Measurements) for additional information on fair value option elections. The interest rates displayed represent the range of contractual rates in effect at December 31, 2025. These interest rates do not include the effects of any associated derivatives designated in a hedge accounting relationship. 
Table 9.1: Long-Term Debt
December 31,
20252024
(in millions)Maturity date(s)Stated interest rate(s)
Wells Fargo & Company (Parent only)
Senior
Fixed-rate notes
2026-2045
0.63-6.75%
$27,340 33,194 
Floating-rate notes
2028-2048
2.72-5.69%
4,645 3,339 
FixFloat notes
2027-2053
1.74-6.49%
96,606 85,130 
Structured notes (1)7,607 7,189 
Total senior debt – Parent136,198 128,852 
Subordinated
Fixed-rate notes (2)
2026-2046
4.10-7.57%
16,358 17,091 
Total subordinated debt – Parent16,358 17,091 
Junior subordinated
Fixed-rate notes
2029-2036
5.95-7.95%
810 789 
Floating-rate notes
2026-2027
5.08-5.58%
382 368 
Total junior subordinated debt – Parent
1,192 1,157 
Total long-term debt – Parent (2)153,748 147,100 
Wells Fargo Bank, N.A., and other bank entities (Bank)
Senior
Fixed-rate notes
2026
5.25-5.45%
4,470 8,262 
Floating-rate notes
2026-2053
3.65-5.35%
1,010 1,864 
Floating-rate advances – Federal Home Loan Bank (FHLB) (3)
— 3,000 
Structured notes and other (1)4,729 2,598 
Total senior debt – Bank10,209 15,724 
Subordinated
Fixed-rate notes
2027-2038
5.85-6.92%
3,169 3,236 
Total subordinated debt – Bank3,169 3,236 
Junior subordinated
Floating-rate notes— 429 
Total junior subordinated debt – Bank (4)
— 429 
Credit card securitizations (5)
2027-2028
4.29-4.94%
3,775 2,240 
Other bank debt
2026-2064
0.50-8.75%
2,083 3,080 
Total long-term debt – Bank$19,236 24,709 

(continued on following page)
(continued from previous page)

December 31,
20252024
(in millions)Maturity date(s)Stated interest rate(s)
Other consolidated subsidiaries
Senior
Structured notes (1)$1,728 1,269 
Total long-term debt – Other consolidated subsidiaries1,728 1,269 
Total long-term debt (6)
$174,712 173,078 
(1)Includes certain structured notes that have coupon or repayment terms linked to the performance of debt or equity securities, an embedded equity, commodity, or currency index, or basket of indices, for which the maturity may be accelerated based on the value of a referenced index or security. In addition, a major portion consists of zero coupon notes where interest is paid as part of the final redemption amount.
(2)Includes fixed-rate subordinated notes issued by the Parent at a discount of $111 million and $114 million at December 31, 2025 and 2024, respectively, and debt issuance costs of $2 million at both December 31, 2025 and 2024, to effect a modification of Wells Fargo Bank, N.A., notes. These subordinated notes are carried at their par amount on the consolidated balance sheet of the Parent presented in Note 26 (Parent-Only Financial Statements). In addition, Parent long-term debt presented in Note 26 also includes affiliate related issuance costs of $394 million and $365 million at December 31, 2025 and 2024, respectively.
(3)We pledge certain assets as collateral to secure advances from the FHLB. For additional information, see Note 18 (Pledged Assets and Collateral).
(4)In second quarter 2025, we redeemed the long-term junior subordinated debt. See Note 15 (Securitizations and Variable Interest Entities) for additional information about trust preferred security VIEs.
(5)We pledge certain assets as collateral which can only be used to settle the liabilities of the consolidated VIE. For additional information about credit card securitizations, see Note 15 (Securitizations and Variable Interest Entities).
(6)The majority of long-term debt is redeemable at our option at one or more dates prior to contractual maturity.
Maturity of Long-Term Debt
The aggregate carrying value of long-term debt that matures (based on contractual payment dates) as of December 31, 2025, in each of the following five years and thereafter is presented in Table 9.2.
Table 9.2: Maturity of Long-Term Debt
December 31, 2025
(in millions)20262027202820292030ThereafterTotal
Wells Fargo & Company (Parent Only)
Senior debt$12,398 8,339 23,970 18,369 10,461 62,661 136,198 
Subordinated debt2,726 2,459 — — — 11,173 16,358 
Junior subordinated debt287 95 — 278 — 532 1,192 
Total long-term debt – Parent15,411 10,893 23,970 18,647 10,461 74,366 153,748 
Wells Fargo Bank, N.A., and other bank entities (Bank)
Senior debt
7,782 43 579 188 1,347 270 10,209 
Subordinated debt— 26 198 — — 2,945 3,169 
Credit card securitizations
— 2,265 1,510 — — — 3,775 
Other bank debt60 46 49 22 35 1,871 2,083 
Total long-term debt – Bank7,842 2,380 2,336 210 1,382 5,086 19,236 
Other consolidated subsidiaries
Senior debt221 43 60 314 300 790 1,728 
Total long-term debt – Other consolidated subsidiaries221 43 60 314 300 790 1,728 
Total long-term debt$23,474 13,316 26,366 19,171 12,143 80,242 174,712