Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 184

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 184
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 |      |   |   -42 |      |                  |     7 |      |   |     7 |      |

Note: The Company does not exclude components from effectiveness testing for fair value and cash flow hedges. The Company reclassified losses of $ 7million into earnings during both the three months ended March 31, 2025 and 2024, as a result of realized cash flows on discontinued cash flow hedges. No amounts were reclassified into earnings on discontinued cash flow hedges because it is probable the original hedged forecasted cash flows will not occur.

The table below shows cumulative hedging adjustments and the carrying amount of assets and liabilities currently designated in fair value hedges:

| (Dollars in Millions)                       |     | Carrying Amount of the Hedged Assets 
 and Liabilities                      |        | March 31, 2025 |   |        | December 31, 2024 | Cumulative Hedging Adjustment |     | March 31, 2025 |   |      | December 31, 2024 |
|:--------------------------------------------|:----|:-------------------------------------|-------:|:---------------|:--|-------:|:------------------|:------------------------------|----:|:---------------|:--|-----:|:------------------|
| Line Item in the Consolidated Balance Sheet |     |                                      |        |                |   |        |                   |                               |     |                |   |      |                   |
| Available-for-sale investment securities(a) |     | $                                    | 28,033 |                | $ | 29,005 |                   | $                             |  -1 |                | $ | -464 |                   |
| Long-term debt                              |     |                                      | 13,210 |                |   | 10,632 |                   |                               | 150 |                |   |   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 $( 54) million and $( 135) million, respectively, at March 31, 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 $ 14.2billion, respectively, at March 31, 2025,