Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 121

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 121
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 values of the Company’s financial instruments are shown in the table below: June 30, 2025December 31, 2024Carrying AmountFair ValueCarrying AmountFair Value(Dollars in Millions)Level 1Level 2Level 3TotalLevel 1Level 2Level 3TotalFinancial AssetsCash and due from banks$57,807 $57,807 $— $— $57,807 $56,502 $56,502 $— $— $56,502 Federal funds sold and securities purchased under resale agreements5,481 — 5,481 — 5,481 6,380 — 6,380 — 6,380 Investment securities held-to-maturity77,879 638 66,394 — 67,032 78,634 1,275 65,000 — 66,275 Loans held for sale(a)3 — — 3 3 322 — — 322 322 Loans, net of allowance for losses372,706 — — 368,767 368,767 372,249 — — 365,628 365,628 Other(b)2,585 — 1,983 602 2,585 2,482 — 1,767 715 2,482 Financial LiabilitiesTime deposits(c)49,577 — 49,604 — 49,604 49,015 — 49,156 — 49,156 Short-term borrowings(d)12,615 — 12,441 — 12,441 13,583 — 13,419 — 13,419 Long-term debt(e)62,861 — 62,111 — 62,111 57,611 — 56,441 — 56,441 Other(f)4,723 — 1,378 3,345 4,723 5,220 — 1,369 3,851 5,220 (a)Excludes mortgages held for sale for which the fair value option under applicable accounting guidance was elected. (b)Includes investments in Federal Reserve Bank and FHLB stock and tax-advantaged investments. (c)Excludes time deposits for which the fair value option under applicable accounting guidance was elected.