Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 100

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 100
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 the loss estimate or an acceleration of the resolution of the related litigation would have resulted in a decrease in the derivative liability. 

U.S. Bancorp61

The following table summarizes the balances of assets and liabilities measured at fair value on a recurring basis: (Dollars in Millions)Level 1Level 2Level 3Netting TotalMarch 31, 2025     Available-for-sale securities     U.S. Treasury and agencies$23,999 $4,617 $— $— $28,616 Mortgage-backed securities     Residential agency— 33,674 — — 33,674 Commercial     Agency— 7,503 — — 7,503 Non-agency— 7 — — 7 Asset-backed securities— 7,332 — — 7,332 Obligations of state and political subdivisions— 9,326 — — 9,326 Other— 316 — — 316 Total available-for-sale23,999 62,775 — — 86,774 Mortgage loans held for sale— 1,704 — — 1,704 Mortgage servicing rights— — 3,312 — 3,312 Derivative assets53 4,374 1,523 (2,680)3,270 Other assets434 2,333 — — 2,767 Total$24,486 $71,186 $4,835 $(2,680)$97,827 Time deposits$— $6,506 $— $— $6,506 Long-term debt— 645 — — 645 Derivative liabilities84 4,429 2,250 (2,835)3,928 Short-term borrowings and other liabilities(a)587 1,859 — — 2,446 Total$671 $13,439 $2,250 $(2,835)$13,525 December 31, 2024     Available-for-sale securities     U.S. Treasury and agencies$23,891 $4,496 $— $— $28,387 Mortgage-backed securities     Residential agency— 33,281 — — 33,281 Commercial