Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 103

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 103
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185)19 21 Note:  The Company does not exclude components from effectiveness testing for fair value and cash flow hedges. The Company reclassified losses of $5 million and $19 million into earnings during the three and nine months ended September 30, 2025, respectively, as a result of realized cash flows on discontinued cash flow hedges, compared with $7 million and $21 million during the three and nine months ended September 30, 2024, respectively. No amounts were reclassified into earnings on discontinued cash flow hedges because it is probable the original hedged forecasted cash flows will not occur. The table below shows cumulative hedging adjustments and the carrying amount of assets and liabilities currently designated in fair value hedges:  Carrying Amount of the Hedged Assets and LiabilitiesCumulative Hedging Adjustment (Dollars in Millions)September 30, 2025December 31, 2024September 30, 2025December 31, 2024Line Item in the Consolidated Balance Sheet    Available-for-sale investment securities(a)$26,687 $29,005 $257 $(464)Long-term debt8,837 10,632 209 39 Note:  The table above excludes the cumulative hedging adjustment related to discontinued hedging relationships on available-for-sale investment securities and long-term debt of $(8) million and $(75) million, respectively, at September 30, 2025, compared with $(72) million and $(149) million at December 31, 2024, respectively. The carrying amount of available-for-sale investment securities and long-term debt related to discontinued hedging relationships was $9.3 billion and $16.1 billion, respectively, at September 30, 2025, compared with $6.8 billion and $14.9 billion at December 31, 2024, respectively.(a)Includes amounts related to available-for-sale investment securities currently designated as the hedged item in a fair value hedge using the portfolio layer method. At September 30, 2025, the amortized cost of the closed portfolios used in these hedging relationships was $20.8 billion, of which $10.8 billion was designated as hedged. At September 30, 2025, the cumulative amount of basis adjustments associated with these hedging relationships was $293 million. At December 31, 2024, the