Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 213

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Chunk 213
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ed                       |     |   |     90 |               |           |  — |     |   | — |            |   | — |                      |   |     90 |       |
| Gross amount of recognized liabilities        |     | $ |  7,713 |               | $         | 22 |     | $ | — |            | $ | — |                      | $ |  7,735 |       |

The Company executes its derivative, repurchase/reverse repurchase and securities loaned/borrowed transactions under the respective industry standard agreements. These agreements include master netting arrangements that allow for multiple contracts executed with the same counterparty to be viewed as a single arrangement. This allows for net settlement of a single amount on a daily basis. In the event of default, the master netting arrangement provides for close-out netting, which allows all of these positions with the defaulting counterparty to be terminated and net settled with a single payment amount.

The Company has elected to offset the assets and liabilities under netting arrangements for the balance sheet presentation of the majority of its derivative counterparties. The netting occurs at the counterparty level, and includes all assets and liabilities related to the derivative contracts, including those associated with cash collateral received or delivered. The Company has also elected to offset the assets and liabilities under netting arrangements for the balance sheet presentation of repurchase/reverse repurchase transactions with certain counterparties, but has not made the election for securities loaned/borrowed transactions.

| U.S. Bancorp |     | 63 |

The following tables provide information on the Company’s netting adjustments, and items not offset on the Consolidated Balance Sheet but available for offset in the event of default:

| (Dollars in Millions)         
 June 30, 2025                 |     | Financial Instruments(b) |        | Gross Recognized Assets | Gross Amounts Offset on the Consolidated Balance Sheet(a) 
 Collateral  Received(c)                                   |        |     |   |        | Net Amounts Presented on the Consolidated Balance Sheet | Gross Amounts Not Offset on the Consolidated Balance Sheet |        |     |   |        |     |   |       | Net Amount |
|:------------------------------|:----|:-------------------------|-------:|:------------------------|:----------------------------------------------------------|-------:|:----|:--|-------:|:--------------------------------------------------------|:-----------------------------------------------------------|-------:|:----|:--|-------:|:----|:--