Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 49

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 49
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347 Net income1,716 1,326 Net (income) loss attributable to noncontrolling interests(7)(7)Net income attributable to U.S. Bancorp$1,709 $1,319 Net income applicable to U.S. Bancorp common shareholders$1,603 $1,209 Earnings per common share$1.03 $.78 Diluted earnings per common share$1.03 $.78 Average common shares outstanding1,559 1,559 Average diluted common shares outstanding1,560 1,559 

See Notes to Consolidated Financial Statements. 

30U.S. Bancorp

U.S. Bancorp 

Consolidated Statement of Comprehensive Income 

(Dollars in Millions) (Unaudited)Three Months EndedMarch 3120252024Net income$1,716 $1,326 Other Comprehensive Income (Loss)Changes in unrealized gains (losses) on investment securities available-for-sale508 (171)Changes in unrealized gains (losses) on derivative hedges284 (343)Changes in debit valuation adjustments2 — Foreign currency translation4 6 Reclassification to earnings of realized (gains) losses170 161 Income taxes related to other comprehensive income (loss)(246)90 Total other comprehensive income (loss)722 (257)Comprehensive income (loss)2,438 1,069 Comprehensive (income) loss attributable to noncontrolling interests(7)(7)Comprehensive income (loss) attributable to U.S. Bancorp$2,431 $1,062 

See Notes to Consolidated Financial Statements. 

U.S. Bancorp31

U.S. Bancorp 

Consolidated Statement of Shareholders’ Equity 

U.S. Bancorp Shareholders(Dollars and Shares in Millions, Except Per Share Data) (Unaudited)Common Shares Outstanding Preferred StockCommon StockCapital Surplus Retained Earnings Treasury Stock Accumulated Other Comprehensive Income (Loss) Total U.S. Bancorp Shareholders’ Equity Noncontrolling Interests Total Equity Balance December 31, 20231,558$6,808 $21 $8,673 $74,026 $(24,126)$(10,096)$55,306 $465 $55,771 Net income (loss