Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 216

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Chunk 216
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 during the three and nine months ended September 30, 2024, respectively. No amounts were reclassified into earnings on discontinued cash flow hedges because it is probable the original hedged forecasted cash flows will not occur.

The table below shows cumulative hedging adjustments and the carrying amount of assets and liabilities currently designated in fair value hedges:

| (Dollars in Millions)                       |     | Carrying Amount of the Hedged Assets 
 and Liabilities                      |        | September 30, 2025 |   |        | December 31, 2024 | Cumulative Hedging Adjustment |     | September 30, 2025 |   |      | December 31, 2024 |
|:--------------------------------------------|:----|:-------------------------------------|-------:|:-------------------|:--|-------:|:------------------|:------------------------------|----:|:-------------------|:--|-----:|:------------------|
| Line Item in the Consolidated Balance Sheet |     |                                      |        |                    |   |        |                   |                               |     |                    |   |      |                   |
| Available-for-sale investment securities(a) |     | $                                    | 26,687 |                    | $ | 29,005 |                   | $                             | 257 |                    | $ | -464 |                   |
| Long-term debt                              |     |                                      |  8,837 |                    |   | 10,632 |                   |                               | 209 |                    |   |   39 |                   |

Note: The table above excludes the cumulative hedging adjustment related to discontinued hedging relationships on available-for-sale investment securities and long-term debt of $( 8) million and $( 75) million, respectively, at September 30, 2025, compared with $( 72) million and $( 149) million at December 31, 2024, respectively. The carrying amount of available-for-sale investment securities and long-term debt related to discontinued hedging relationships was $ 9.3billion and $ 16.1billion, respectively, at September 30, 2025, compared with $ 6.8billion and $ 14.9billion at December 31, 2024, respectively.

(a) Includes amounts related to available-for-sale investment securities currently designated as the hedged item in a fair value hedge using the portfolio layer method. At September 30, 2025, the amortized cost of the