Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 241

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Chunk 241
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2025 and 2024, respectively. See Non-GAAP Financial Measures beginning on page 29.

(b) Payment Services noninterest income presented net of related rewards and rebate costs and certain partner payments of $ 2.3billion for both the nine months ended September 30, 2025 and 2024.

(c) Total noninterest income includes revenue generated from certain contracts with customers of $ 7.2billion and $ 6.8billion for the nine months ended September 30, 2025 and 2024, respectively.

(d) The Company, as a lessor, originates retail and commercial leases either directly to the consumer or indirectly through dealer networks. Under these arrangements, the Company recorded a total of $ 596million and $ 577million of revenue for the nine months ended September 30, 2025 and 2024, respectively, primarily consisting of interest income on sales-type and direct financing leases.

(e) Other direct expenses for each reportable segment includes: net occupancy and equipment, professional services, marketing and business development, technology and communications, and other.

| NOTE 17 |     | Subsequent Events |

The Company has evaluated the impact of events that have occurred subsequent to September 30, 2025 through the date the consolidated financial statements were filed with the SEC. Based on this evaluation, the Company has determined none of these events were required to be recognized or disclosed in the consolidated financial statements and related notes.

| U.S. Bancorp |     | 75 |

U.S. Bancorp

Consolidated Daily Average Balance Sheet and Related Yields and Rates (a)

| (Dollars in Millions) (Unaudited)                           
 Assets                                                      |     | For the Three Months Ended September 30 
 2025                                    |         | Average Balances |   |       | Interest |     |       | Yields and Rates | 2024 |         | Average Balances |   |       | Interest |     |       | Yields and Rates | 2025 v 2024 |       | % Change Average Balances |
|:------------------------------------------------------------|:----|:----------------------------------------|--------:|:-----------------|:--|------:|:---------|:----|------:|:-----------------|:-----|--------:|:-----------------|:--|------:|:---------|:----|------:|:-----------------|:------------|------:|--------------------------:|
| Investment securities(b)