Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 189

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 189
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ted against derivative assets at March 31, 2025 and December 31, 2024, respectively.

(b) For derivative assets this includes any derivative liability fair values that could be offset in the event of counterparty default; for reverse repurchase agreements this includes any repurchase agreement payables that could be offset in the event of counterparty default; for securities borrowed this includes any securities loaned payables that could be offset in the event of counterparty default.

(c) Includes the fair value of securities received by the Company from the counterparty. These securities are not included on the Consolidated Balance Sheet unless the counterparty defaults.

(d) Excludes $ 25million and $ 15million at March 31, 2025 and December 31, 2024, respectively, of derivative assets not subject to netting arrangements.

| (Dollars in Millions)     
 March 31, 2025            |     | Financial  Instruments(b) |        | Gross Recognized Liabilities | Gross Amounts Offset on the Consolidated Balance Sheet(a) 
 Collateral  Pledged(c)                                    |        |     |   |        | Net Amounts Presented on the Consolidated Balance Sheet | Gross Amounts Not Offset on the Consolidated Balance Sheet |        |     |   |        |     |   |       | Net Amount |
|:--------------------------|:----|:--------------------------|-------:|:-----------------------------|:----------------------------------------------------------|-------:|:----|:--|-------:|:--------------------------------------------------------|:-----------------------------------------------------------|-------:|:----|:--|-------:|:----|:--|------:|:-----------|
| Derivative liabilities(d) |     | $                         |  6,695 |                              | $                                                         | -2,835 |     | $ |  3,860 |                                                         | $                                                          |   -187 |     | $ |      — |     | $ | 3,673 |            |
| Repurchase agreements     |     |                           |  9,313 |                              |                                                           |      — |     |   |  9,313 |                                                         |                                                            |   -394 |     |   | -8,912 |     |   |     7 |            |
| Securities loaned         |     |                           |    141 |                              |                                                           |      — |     |   |    141 |                                                         |                                                            |      — |     |   |   -139 |