Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 237

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Chunk 237
---
 deposits                                             |     |                                                         | 267,930 |      |   | 271,934 |      |                               | 219,297 |      |   | 220,328 |      |                  |  2,692 |      |   |  2,845 |      |                                |  14,783 |      |   |  13,378 |      |                      | 504,702 |      |   | 508,485 |      |
| Total U.S. Bancorp shareholders’ equity                    |     |                                                         |  21,684 |      |   |  21,624 |      |                               |  13,633 |      |   |  14,705 |      |                  | 10,232 |      |   |  9,953 |      |                                |  14,709 |      |   |   9,567 |      |                      |  60,258 |      |   |  55,849 |      |

(a) Total net interest income includes a taxable-equivalent adjustment of $ 59million for the six months ended June 30, 2025 and 2024. See Non-GAAP Financial Measures beginning on page 29.

(b) Payment Services noninterest income presented net of related rewards and rebate costs and certain partner payments of $ 1.5billion for the six months ended June 30, 2025 and 2024.

(c) Total noninterest income includes revenue generated from certain contracts with customers of $ 4.7billion and $ 4.5billion for the six months ended June 30, 2025 and 2024, respectively.

(d) The Company, as a lessor, originates retail and commercial leases either directly to the consumer or indirectly through dealer networks. Under these arrangements, the Company recorded a total of $ 396million and $ 382million of revenue for the six months ended June 30, 2025 and 2024, respectively, primarily consisting of interest income on sales-type and direct financing leases.

(e) Other direct expenses for each reportable segment includes: net occupancy and equipment, professional services, marketing and business development, technology and communications, and other.

| NOTE 17 |     | Subsequent Events |

The Company has evaluated the impact of events that have occurred subsequent to June 30, 2025 through the date the consolidated financial statements were filed with the SEC. Based on this evaluation,