Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 51

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 7
Chunk 51
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 were subject to certain transitional provisions for the implementation of accounting guidance related to impairment of financial instruments based on the CECL methodology. As a result, these capital measures disclosed by the Company may be considered non-GAAP financial measures. Management believes this information helps investors assess trends in the Company’s capital utilization and adequacy. The Company also discloses net interest income and related ratios and analysis on a taxable-equivalent basis, which may also be considered non-GAAP financial measures. The Company believes this presentation to be the preferred industry measurement of net interest income as it provides a relevant comparison of net interest income arising from taxable and tax-exempt sources. In addition, certain performance measures utilize net interest income on a taxable-equivalent basis, including the efficiency ratio and net interest margin. There may be limits in the usefulness of these measures to investors. As a result, the Company encourages readers to consider the consolidated financial statements and other financial information contained in this report in their entirety, and not to rely on any single financial measure. 

The following tables show the Company’s calculation of these non-GAAP financial measures: 

(Dollars in Millions)June 30,2025December 31,2024Total equity$61,896 $59,040 Preferred stock(6,808)(6,808)Noncontrolling interests(458)(462)Common equity(1)54,630 51,770 Goodwill (net of deferred tax liability)(a)(11,613)(11,508)Intangible assets (net of deferred tax liability), other than mortgage servicing rights(1,699)(1,846)Tangible common equity(2)41,318 38,416 Common equity tier 1 capital, determined in accordance with transitional regulatory capital requirements related to the CECL methodology implementation47,877 Adjustments(b)(433)Common equity tier 1 capital, reflecting the full implementation of the CECL methodology(3)47,444 Total assets(4)686,370 678,318 Goodwill (net of deferred tax liability)(a)(11,613)(11,508)Intangible assets (net of deferred tax liability), other than mortgage servicing rights(1,699)(1,846)Tangible assets(5)673,058 664,964 Risk-weighted assets, determined in accordance with prescribed regulatory capital requirements effective for the Company(6)459,522 450,498 Adjustments(c)(368)Risk-weighted assets, reflecting the full implementation of the