Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 221

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Chunk 221
---
 |                                                         |                                                            |   -851 |     |   | -6,787 |     |   |     7 |            |
| Securities loaned         |     |                           |     90 |                              |                                                           |       — |     |   |     90 |                                                         |                                                            |      — |     |   |    -88 |     |   |     2 |            |
| Total                     |     | $                         | 15,816 |                              | $                                                         |  -2,949 |     | $ | 12,867 |                                                         | $                                                          | -1,028 |     | $ | -6,875 |     | $ | 4,964 |            |

(a) Includes $ 1.7billion and $1.9 billion of cash collateral related receivables that were netted against derivative liabilities at both September 30, 2025 and December 31, 2024.

(b) For derivative liabilities this includes any derivative asset fair values that could be offset in the event of counterparty default; for repurchase agreements this includes any reverse repurchase agreement receivables that could be offset in the event of counterparty default; for securities loaned this includes any securities borrowed receivables that could be offset in the event of counterparty default.

(c) Includes the fair value of securities pledged by the Company to the counterparty. These securities are included on the Consolidated Balance Sheet unless the Company defaults.

(d) Excludes $ 119million and $ 79million at September 30, 2025 and December 31, 2024, respectively, of derivative liabilities not subject to netting arrangements.

| NOTE 14 |     | Fair Values of Assets and Liabilities |

The Company uses fair value measurements for the initial recording of certain assets and liabilities, periodic remeasurement of certain assets and liabilities, and disclosures. Derivatives, trading and available-for-sale investment securities, MSRs, certain time deposits and structured long-term notes, and substantially all MLHFS are recorded at fair value on a recurring basis. Additionally, from time to time, the Company may be required to record at fair value other assets on a nonrecurring basis, such as loans held for sale, loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application of lower-of-cost-or-fair value accounting or impairment write-downs of individual assets. Other financial instruments, such as held-to-maturity investment securities, loans,