Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 210

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Chunk 210
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 |   |      |                   |
| Available-for-sale investment securities(a) |     | $                                    | 28,421 |               | $ | 29,005 |                   | $                             | 281 |               | $ | -464 |                   |
| Long-term debt                              |     |                                      | 15,752 |               |   | 10,632 |                   |                               | 217 |               |   |   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 $( 47) million and $( 98) million, respectively, at June 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 $ 8.1billion and $ 11.6billion, respectively, at June 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 June 30, 2025, the amortized cost of the closed portfolios used in these hedging relationships was $ 21.0billion, of which $ 11.3billion was designated as hedged. At June 30, 2025, the cumulative amount of basis adjustments associated with these hedging relationships was $ 302million. At December 31, 2024, the amortized cost of the closed portfolios used in these hedging relationships was $ 17.5billion, of which $ 11.6billion was designated as hedged. At December 31, 2024, the cumulative amount of basis adjustments associated with these hedging relationships was $ 13million.

| 60 |     | U.S. Bancorp |

The table below shows the gains (losses) recognized in earnings for other economic hedges and the customer-related positions:

| (Dollars in Millions)                    
 Asset and Liability Management Positions 
 Other economic hedges                    
 Interest rate contracts                  |     | Location of Gains (Losses)                
 Recognized in Earnings                    | Three Months Ended 
 June 30            |     | 202