Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 62

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 62
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 increase in deposits7,834 8,819 Net (decrease) increase in short-term borrowings(69)8,429 Proceeds from issuance of long-term debt10,291 8,810 Principal payments or redemption of long-term debt(6,372)(5,916)Proceeds from issuance of common stock32 22 Repurchase of common stock(367)(51)Cash dividends paid on preferred stock(237)(254)Cash dividends paid on common stock(2,355)(2,307)Other, net(68)(30)Net cash provided by financing activities8,689 17,522 Change in cash and due from banks10,135 12,370 Cash and due from banks at beginning of period56,502 61,192 Cash and due from banks at end of period$66,637 $73,562  See Notes to Consolidated Financial Statements. 

U.S. Bancorp35

Notes to Consolidated Financial Statements 

(Unaudited) 

 NOTE 1Basis of Presentation

The accompanying consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all information and notes necessary for a complete presentation of financial position, results of operations and cash flow activity required in accordance with accounting principles generally accepted in the United States. In the opinion of management of U.S. Bancorp (the “Company”), all adjustments (consisting only of normal recurring adjustments) necessary for a fair statement of results for the interim periods have been made. These financial statements and notes should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. Certain amounts in prior periods have been reclassified to conform to the current period presentation. 

NOTE 2Accounting ChangesIncome Taxes - Improvements to Income Tax Disclosures In December 2023, the Financial Accounting Standards Board issued guidance, effective for the Company for annual reporting periods beginning after December 15, 2024, related to income tax disclosures. This guidance requires additional information in income tax rate reconciliation disclosures and additional disclosures about income taxes paid. The guidance is required, at a minimum, to be adopted on a prospective basis, with an option to apply it retrospectively. The Company expects the adoption of this guidance will not be material to its financial statements.

 NOTE 3  Investment SecuritiesThe Company