Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 116

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 116
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 the derivative liability. A decrease in the loss estimate or an acceleration of the resolution of the related litigation would have resulted in a decrease in the derivative liability. 

U.S. Bancorp67

The following table summarizes the balances of assets and liabilities measured at fair value on a recurring basis: (Dollars in Millions)Level 1Level 2Level 3Netting TotalJune 30, 2025     Available-for-sale securities     U.S. Treasury and agencies$23,477 $4,640 $— $— $28,117 Mortgage-backed securities     Residential agency— 38,133 — — 38,133 Commercial     Agency— 7,615 — — 7,615 Non-agency— 7 — — 7 Asset-backed securities— 7,183 — — 7,183 Obligations of state and political subdivisions— 9,209 — — 9,209 Other— 313 — — 313 Total available-for-sale23,477 67,100 — — 90,577 Mortgage loans held for sale— 2,285 — — 2,285 Mortgage servicing rights— — 3,305 — 3,305 Derivative assets56 5,470 2,113 (3,438)4,201 Other assets437 2,250 — — 2,687 Total$23,970 $77,105 $5,418 $(3,438)$103,055 Time deposits$— $7,305 $— $— $7,305 Long-term debt— 1,152 — — 1,152 Derivative liabilities55 5,611 2,220 (4,161)3,725 Short-term borrowings and other liabilities(a)724 1,700 — — 2,424 Total$779 $15,768 $2,220 $(4,161)$14,606 December 31, 2024     Available-for-sale securities     U.S. Treasury and agencies$23,891 $4,496 $— $— $28,387 Mortgage-backed securities     Residential agency— 33,281