Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 96

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 96
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 on retirement plansActuarial gains (losses) and prior service cost (credit) amortization1 — 4 — Other noninterest expense— — (1)— Applicable income taxes1 — 3 — Net-of-taxTotal impact to net income$(145)$(244)$(453)$(549) 

NOTE 9Earnings Per ShareThe components of earnings per share were:  Three Months EndedSeptember 30Nine Months EndedSeptember 30(Dollars and Shares in Millions, Except Per Share Data)2025202420252024Net income attributable to U.S. Bancorp$2,001 $1,714 $5,525 $4,636 Preferred dividends(97)(103)(262)(280)Earnings allocated to participating stock awards(11)(10)(34)(28)Net income applicable to U.S. Bancorp common shareholders$1,893 $1,601 $5,229 $4,328 Average common shares outstanding1,557 1,561 1,558 1,560 Net effect of the exercise and assumed purchase of stock awards— — 1 1 Average diluted common shares outstanding1,557 1,561 1,559 1,561 Earnings per common share$1.22 $1.03 $3.36 $2.77 Diluted earnings per common share$1.22 $1.03 $3.35 $2.77 

Options outstanding at September 30, 2025 to purchase 1 million common shares for the three and nine months ended September 30, 2025, and outstanding at September 30, 2024 to purchase 1 million common shares for the three and nine months ended September 30, 2024 were not included in the computation of diluted earnings per share because they were antidilutive. 

U.S. Bancorp55

NOTE 10Employee BenefitsThe components of net periodic benefit cost for the Company’s pension plans were:  Three Months EndedSeptember 30Nine Months EndedSeptember 30(Dollars in Millions)2025202420252024Service cost$54 $55 $160 $164 Interest cost102 94 307 282 Expected return on plan assets(147)(146)(440)(438)Prior service cost (credit) amortization(1)(1)(3)(