Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 64

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 64
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)$90,577 $92,793 $58 $(6,859)$85,992 (a)Represents fair value hedge basis adjustments related to active portfolio layer method hedges of available-for-sale investment securities, which are not allocated to individual securities in the portfolio. For additional information, refer to Note 12. 

36U.S. Bancorp

Investment securities with a fair value of $18.2 billion at June 30, 2025, and $18.8 billion at December 31, 2024, were pledged to secure public, private and trust deposits, repurchase agreements and for other purposes required by contractual obligation or law. Included in these amounts were securities where the Company and certain counterparties have agreements granting the counterparties the right to sell or pledge the securities. Investment securities securing these types of arrangements had a fair value of $351 million at June 30, 2025, and $320 million at December 31, 2024. The following table provides information about the amount of interest income from taxable and non-taxable investment securities: Three Months EndedJune 30Six Months EndedJune 30(Dollars in Millions)2025202420252024Taxable$1,281 $1,218 $2,515 $2,317 Non-taxable74 76 148 152 Total interest income from investment securities$1,355 $1,294 $2,663 $2,469 The following table provides information about the amount of gross gains and losses realized through the sales of available-for-sale investment securities: Three Months EndedJune 30Six Months EndedJune 30(Dollars in Millions)2025202420252024Realized gains$1 $— $8 $3 Realized losses(58)(36)(65)(37)Net realized gains (losses)$(57)$(36)$(57)$(34)Income tax (benefit) on net realized gains (losses)$(14)$(9)$(14)$(8)The Company conducts a regular assessment of its available-for-sale investment securities with unrealized losses to determine whether all or some portion of a security’s unrealized loss is related to credit and an allowance for credit losses is necessary. If the Company intends to sell or it is more likely than not the Company will be required to sell an investment security, the amortized cost of the security is written down to fair value