Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 128

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 128
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 business segment when the loss event is realized in a manner similar to a loan charge-off. Noninterest expenses incurred by centrally managed operations or business segments that directly support another business segment’s operations are charged to the applicable business segment based on its utilization of those services, primarily measured by the volume of customer activities, number of employees or other relevant factors. These allocated expenses are reported as net shared services expense within noninterest expense. Certain activities that do not directly support the operations of the business segments or for which the business segments are not considered financially accountable in evaluating their performance are not charged to the business segments. The income or expenses associated with these corporate activities, including merger and integration charges, are reported within the Treasury and Corporate Support business segment. Income taxes are assessed to each business segment at a standard tax rate with the residual tax expense or benefit to arrive at the consolidated effective tax rate included in Treasury and Corporate Support. Designations, assignments and allocations change from time to time as management systems are enhanced, methods of evaluating performance or product lines change or business segments are realigned to better respond to the Company’s diverse customer base. During 2025 and 2024, certain organization and methodology changes were made, including revising the Company’s business segment funds transfer-pricing methodology related to deposits and loans during the second quarter of 2024. Prior period results were recast and presented on a comparable basis.

U.S. Bancorp73

Business segment results for the three months ended June 30 were as follows:  Wealth, Corporate, Commercial and Institutional Banking Consumer and Business Banking Payment ServicesTreasury and Corporate Support Consolidated Company (Dollars in Millions)2025202420252024202520242025202420252024Condensed Income StatementNet interest income (taxable-equivalent basis)(a)$1,801 $1,928 $1,843 $1,912 $730 $673 $(294)$(461)$4,080 $4,052 Noninterest income(b)(c)1,199 1,130 406 414 1,116 1,093 203 178 2,924 2,815 Total net revenue(d)3,000 3,058 2,249 2,326 1,846 1,766 (91)(283)7,004 6,867 Compensation and employee benefits535 548 528 551 220 217 1,317 1,303 2