Other Comprehensive Income


Note 20: Other Comprehensive Income

Table 20.1 provides the components of other comprehensive income (OCI), reclassifications to net income by income statement line item, and the related tax effects. Income tax

effects are reclassified from accumulated OCI to net income in the same period as the related pre-tax amount.

Table 20.1: Summary of Other Comprehensive Income


	Quarter ended March 31,
		2026	2025
(in millions)				Before tax		Tax effect	Net of tax		Before tax	Tax effect	Net of tax
Debt securities:
Net unrealized gains (losses) arising during the period				$	(1,281)	317	(964)		2,256	(556)	1,700
Reclassification of net (gains) losses to net income				108		(27)	81		(29)	7	(22)
Net change				(1,173)		290	(883)		2,227	(549)	1,678
Derivatives and hedging activities:
Fair value hedges:
Change in fair value of excluded components (1)				12		(3)	9		7	(2)	5
Cash flow hedges:
Net unrealized gains (losses) arising during the period				(557)		137	(420)		444	(110)	334
Reclassification of net (gains) losses to net income				80		(19)	61		142	(35)	107
Net change				(465)		115	(350)		593	(147)	446
Defined benefit plans adjustments:
Net actuarial and prior service gains (losses) arising during the period				—		—	—		—	—	—
Reclassification of amounts to noninterest expense (2)				24		(5)	19		25	(5)	20
Net change				24		(5)	19		25	(5)	20
Debit valuation adjustments (DVA) and other:
Net unrealized gains (losses) arising during the period				68		(17)	51		11	(3)	8
Reclassification of net (gains) losses to net income				—		—	—		—	—	—
Net change				68		(17)	51		11	(3)	8
Foreign currency translation adjustments:
Net unrealized gains (losses) arising during the period				(85)		(1)	(86)		27	—	27
Reclassification of net (gains) losses to net income				—		—	—		—	—	—
Net change				(85)		(1)	(86)		27	—	27
Other comprehensive income (loss)				$	(1,631)	382	(1,249)		2,883	(704)	2,179
Less: Other comprehensive income from noncontrolling interests, net of tax							—				1
Wells Fargo other comprehensive income (loss), net of tax							$	(1,249)			2,178

(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 recognized in OCI.

(2)These items are included in the computation of net periodic benefit cost. See Note 18 (Employee Benefits) for additional information.

Table 20.2 provides the accumulated OCI balance activity net of tax.

Table 20.2: 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 March 31, 2026


Balance, beginning of period	$	(4,388)	(30)	(150)	(1,596)	(108)	(401)	(6,673)
Net unrealized gains (losses) arising during the period	(964)		9	(420)	—	51	(86)	(1,410)
Amounts reclassified from accumulated other comprehensive income	81		—	61	19	—	—	161
Net change	(883)		9	(359)	19	51	(86)	(1,249)
Less: Other comprehensive income from noncontrolling interests	—		—	—	—	—	—	—
Balance, end of period	$	(5,271)	(21)	(509)	(1,577)	(57)	(487)	(7,922)
Quarter ended March 31, 2025


Balance, beginning of period	$	(8,856)	(46)	(1,071)	(1,673)	(46)	(484)	(12,176)
Net unrealized gains arising during the period	1,700		5	334	—	8	27	2,074
Amounts reclassified from accumulated other comprehensive income (loss)	(22)		—	107	20	—	—	105
Net change	1,678		5	441	20	8	27	2,179
Less: Other comprehensive income from noncontrolling interests	—		—	—	—	—	1	1
Balance, end of period	$	(7,178)	(41)	(630)	(1,653)	(38)	(458)	(9,998)

(1)At March 31, 2026 and 2025, accumulated other comprehensive loss includes unamortized after-tax unrealized losses of $2.6 billion and $3.0 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.