Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 229

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Chunk 229
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The Company is also required periodically to measure certain other financial assets at fair value on a nonrecurring basis. These measurements of fair value usually result from the application of lower-of-cost-or-fair value accounting or write-downs of individual assets.

The following table summarizes the balances as of the measurement date of assets measured at fair value on a nonrecurring basis, and still held as of the reporting date:

|                       |     | September 30, 2025 |   |         |   |   |         |   |     |         |   |     |       | December 31, 2024 |   |         |   |   |         |   |     |         |   |     |       |
|:----------------------|:----|:-------------------|:--|:--------|:--|:--|:--------|:--|----:|:--------|:--|----:|:------|:------------------|:--|:--------|:--|:--|:--------|:--|----:|:--------|:--|----:|:------|
| (Dollars in Millions) |     |                    |   | Level 1 |   |   | Level 2 |   |     | Level 3 |   |     | Total |                   |   | Level 1 |   |   | Level 2 |   |     | Level 3 |   |     | Total |
| Loans(a)              |     | $                  | — |         | $ | — |         | $ | 611 |         | $ | 611 |       | $                 | — |         | $ | — |         | $ | 636 |         | $ | 636 |       |
| Other assets(b)       |     |                    | — |         |   | — |         |   |  51 |         |   |  51 |       |                   | — |         |   | — |         |   |  25 |         |   |  25 |       |

(a) Represents the carrying value of loans for which adjustments were based on the fair value of the collateral, excluding loans fully charged-off.

(b) Primarily represents the fair value of foreclosed properties that were measured at fair value based on an appraisal or broker price opinion of the collateral subsequent to their initial acquisition.

The following table summarizes losses recognized related to nonrecurring fair value measurements of individual assets or portfolios:

| (D