Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 118

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 118
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 significant unobservable inputs (Level 3):Three Months Ended June 30 (Dollars in Millions)Beginning of Period BalanceNet Gains (Losses) Included in Net IncomePurchasesSalesIssuancesSettlementsEnd of Period BalanceNet Change in Unrealized Gains (Losses) Relating to Assets and Liabilities Held at End of Period2025Mortgage servicing rights$3,312 $(71)(a)$— $— $64 (c)$— $3,305 $(71)(a)Net derivative assets and liabilities(727)10 (b)52 — — 558 (107)463 (d)2024Mortgage servicing rights$3,462 $(12)(a) $1 $(189)$64 (c)$— $3,326 $(12)(a)Net derivative assets and liabilities(2,361)(1,004)(e)270 (3)— 795 (2,303)4 (f)Six Months Ended June 30 (Dollars in Millions)Beginning of Period BalanceNet Gains (Losses) Included in Net Income PurchasesSalesIssuancesSettlementsEnd of Period BalanceNet Change in Unrealized Gains (Losses) Relating to Assets and Liabilities Held at End of Period2025Mortgage servicing rights$3,369 $(188)(a)$— $1 $123 (c)$— $3,305 $(188)(a)Net derivative assets and liabilities(1,800)(181)(g)721 (2)1 1,154 (107)1,351 (h)2024Mortgage servicing rights$3,377 $18 (a)$1 $(189)$119 (c)$— $3,326 $18 (a)Net derivative assets and liabilities(1,885)(2,687)(i)648 (5)— 1,626 (2,303)(676)(j)(a)Included in mortgage banking revenue.(b)Approximately $53 million, $39 million and $(82) million included in mortgage banking revenue, capital markets revenue and other noninterest income, respectively.(c)Represents MSRs capitalized during the period.(d)Approximately $21 million, $526 million and $(82) million included in mortgage banking revenue, capital markets revenue and other noninterest income, respectively