Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 162

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 162
---
s from issuance of common stock                                                     |     |      |                    |     16 |      |   |     13 |
| Repurchase of common stock                                                                 |     |      |                    |   -160 |      |   |    -49 |
| Cash dividends paid on preferred stock                                                     |     |      |                    |    -72 |      |   |    -76 |
| Cash dividends paid on common stock                                                        |     |      |                    |   -787 |      |   |   -770 |
| Net cash (used in) provided by financing activities                                        |     |      |                    | -3,656 |      |   | 18,085 |
| Change in cash and due from banks                                                          |     |      |                    | -6,489 |      |   | 15,793 |
| Cash and due from banks at beginning of period                                             |     |      |                    | 56,502 |      |   | 61,192 |
| Cash and due from banks at end of period                                                   |     |      | $                  | 50,013 |      | $ | 76,985 |

See Notes to Consolidated Financial Statements.

| U.S. Bancorp |     | 33 |

#### Notes to Consolidated Financial Statements
(Unaudited)

| NOTE 1 |     | Basis of Presentation |

The accompanying consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and, therefore, do not include all information and notes necessary for a complete presentation of financial position, results of operations and cash flow activity required in accordance with accounting principles generally accepted in the United States. In the opinion of management of U.S. Bancorp (the “Company”), all adjustments (consisting only of normal recurring adjustments) necessary for a fair statement of results for the interim periods have been made. These financial statements and notes should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. Certain amounts in prior periods have been reclassified to conform to the current period presentation.

| NOTE 2 |     | Accounting Changes |

Income Taxes - Improvements to Income Tax Disclosures In December 2023, the Financial Accounting Standards Board issued guidance, effective for the Company for annual reporting periods beginning after December 15, 2024, related to income tax disclosures. This guidance requires additional information in income tax rate reconciliation disclosures and additional disclosures about income taxes