Other Comprehensive Income

3 Months Ended

Mar. 31, 2022

Cumulative Other Comprehensive Income Balances [Abstract]


Note 21: Other Comprehensive Income

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 March 31,
		2022	2021
(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				$	(6,888)	1,697	(5,191)		(2,012)	500	(1,512)
Reclassification of net (gains) losses to net income				58		(15)	43		(14)	1	(13)
Net change				(6,830)		1,682	(5,148)		(2,026)	501	(1,525)
Derivatives and hedging activities:
Fair Value Hedges:
Change in fair value of excluded components on fair value hedges (1)				64		(16)	48		25	(6)	19
Cash Flow Hedges:
Net unrealized gains (losses) arising during the period on cash flow hedges				(51)		13	(38)		(31)	8	(23)
Reclassification of net (gains) losses to net income				14		(4)	10		53	(13)	40
Net change				27		(7)	20		47	(11)	36
Defined benefit plans adjustments:
Net actuarial and prior service gains (losses) arising during the period				19		(5)	14		10	(3)	7
Reclassification of amounts to noninterest expense (2)				76		(18)	58		36	(8)	28
Net change				95		(23)	72		46	(11)	35
Debit valuation adjustments (DVA):
Net unrealized gains (losses) arising during the period				(4)		1	(3)		—	—	—
Reclassification of net (gains) losses to net income				—		—	—		—	—	—
Net change				(4)		1	(3)		—	—	—
Foreign currency translation adjustments:
Net unrealized gains (losses) arising during the period				(6)		—	(6)		13	(2)	11
Reclassification of net (gains) losses to net income				—		—	—		—	—	—
Net change				(6)		—	(6)		13	(2)	11
Other comprehensive income (loss)				$	(6,718)	1,653	(5,065)		(1,920)	477	(1,443)
Less: Other comprehensive income from noncontrolling interests, net of tax							—				1
Wells Fargo other comprehensive loss, net of tax							$	(5,065)			(1,444)

(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 18 (Employee Benefits and Other Expenses) for additional information).

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

Table 21.2: Cumulative OCI Balances


(in millions)	Debt securities		Fair value hedges (1)	Cash flow hedges (2)	Defined benefit plans adjustments	Debit valuation adjustments (DVA)	Foreign currency translation adjustments	Cumulative other comprehensive income (loss)


















Quarter ended March 31, 2022


Balance, beginning of period	$	665	(143)	(27)	(2,055)	—	(142)	(1,702)
Net unrealized gains (losses) arising during the period	(5,191)		48	(38)	14	(3)	(6)	(5,176)
Amounts reclassified from accumulated other comprehensive income	43		—	10	58	—	—	111
Net change	(5,148)		48	(28)	72	(3)	(6)	(5,065)
Less: Other comprehensive income from noncontrolling interests	—		—	—	—	—	—	—
Balance, end of period	$	(4,483)	(95)	(55)	(1,983)	(3)	(148)	(6,767)
Quarter ended March 31, 2021


Balance, beginning of period	$	3,039	(204)	(125)	(2,404)	—	(112)	194
Net unrealized gains (losses) arising during the period	(1,512)		19	(23)	7	—	11	(1,498)
Amounts reclassified from accumulated other comprehensive income	(13)		—	40	28	—	—	55
Net change	(1,525)		19	17	35	—	11	(1,443)
Less: Other comprehensive income from noncontrolling interests	—		—	—	—	—	1	1
Balance, end of period	$	1,514	(185)	(108)	(2,369)	—	(102)	(1,250)

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

(2)Majority of the amounts for cash flow hedges are interest rate contracts.