$USB-PS

US BANCORP \DE\

CIK:0000036104|SEC Filings

Consolidated Statement of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest Income
Loans	$ 5,728	$ 5,548	$ 11,254	$ 11,081
Loans held for sale	43	59	78	87
Investment securities	1,344	1,355	2,647	2,663
Other interest income	483	642	1,026	1,289
Total interest income	7,598	7,604	15,005	15,120
Interest Expense
Deposits	2,330	2,541	4,614	5,052
Short-term borrowings	249	291	463	540
Long-term debt	658	721	1,304	1,385
Total interest expense	3,237	3,553	6,381	6,977
Net interest income	4,361	4,051	8,624	8,143
Provision for credit losses	538	501	1,114	1,038
Net interest income after provision for credit losses	3,823	3,550	7,510	7,105
Noninterest Income
Card revenue	435	413	826	787
Corporate payment and treasury management revenue	440	421	848	821
Merchant processing services	485	474	921	889
Trust and investment management fees	785	703	1,530	1,383
Lending and deposit-related fees	308	277	602	543
Capital markets revenue	512	315	889	607
Mortgage banking revenue	169	162	330	335
Investment products fees	102	90	199	177
Securities gains (losses), net	(49)	(57)	(84)	(57)
Other	138	126	261	275
Total noninterest income	3,325	2,924	6,322	5,760
Noninterest Expense
Compensation and employee benefits	2,685	2,600	5,313	5,237
Net occupancy and equipment	303	301	607	607
Professional services	112	109	204	207
Marketing and business development	216	161	433	343
Technology and communications	601	534	1,174	1,067
Other intangibles	114	124	224	247
Other	397	352	738	705
Total noninterest expense	4,428	4,181	8,693	8,413
Income before income taxes	2,720	2,293	5,139	4,452
Applicable income taxes	537	472	1,006	915
Net income	2,183	1,821	4,133	3,537
Net (income) loss attributable to noncontrolling interests	(6)	(6)	(11)	(13)
Net income attributable to U.S. Bancorp	2,177	1,815	4,122	3,524
Net income applicable to U.S. Bancorp common shareholders, basic	2,098	1,733	3,939	3,336
Net income applicable to U.S. Bancorp common shareholders, diluted	$ 2,098	$ 1,733	$ 3,939	$ 3,336
Earnings per common share (in dollars per share)	$ 1.35	$ 1.11	$ 2.53	$ 2.14
Diluted earnings per common share (in dollars per share)	$ 1.35	$ 1.11	$ 2.53	$ 2.14
Average common shares outstanding (in shares)	1,554	1,559	1,554	1,559
Average diluted common shares outstanding (in shares)	1,555	1,559	1,555	1,560

Consolidated Statement of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net income attributable to U.S. Bancorp	$ 4,122	$ 3,524
Adjustments to reconcile net income to net cash provided by operating activities
Provision for credit losses	1,114	1,038
Depreciation and amortization of premises and equipment	189	185
Amortization of intangibles	224	247
(Gain) loss on sales of loans held for sale	(74)	(108)
(Gain) loss on sales of securities and other assets	70	15
Loans originated for sale, net of repayments	(11,316)	(9,847)
Proceeds from sales of loans held for sale	10,729	9,839
Other, net	1,102	(3,288)
Net cash provided by operating activities	6,160	1,605
Investing Activities
Proceeds from sales of available-for-sale investment securities	8,146	3,525
Proceeds from maturities of held-to-maturity investment securities	3,362	3,652
Proceeds from maturities of available-for-sale investment securities	5,474	2,860
Purchases of held-to-maturity investment securities	(1,059)	(2,620)
Purchases of available-for-sale investment securities	(12,216)	(9,478)
Net increase in loans outstanding	(19,309)	(7,168)
Proceeds from sales of loans	432	6,518
Purchases of loans	(856)	(696)
Net decrease in securities purchased under agreements to resell	6,673	922
Net cash paid for acquisitions	(246)	(35)
Other, net	(2,129)	(1,398)
Net cash used in investing activities	(11,728)	(3,918)
Financing Activities
Net increase (decrease) in deposits	10,013	(199)
Net increase (decrease) in short-term borrowings	19,948	(479)
Proceeds from issuance of long-term debt	7,386	9,327
Principal payments or redemption of long-term debt	(9,708)	(3,750)
Proceeds from issuance of common stock	19	22
Repurchase of common stock	(477)	(266)
Cash dividends paid on preferred stock	(160)	(168)
Cash dividends paid on common stock	(1,628)	(1,571)
Other, net	(25)	(47)
Net cash provided by financing activities	25,368	2,869
Effect of exchange rate changes on cash and due from banks	(199)	749
Change in cash and due from banks	19,601	1,305
Cash and due from banks at beginning of period	46,890	56,502
Cash and due from banks at end of period	$ 66,491	$ 57,807