Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 226

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Chunk 226
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 at fair value with contractual principal outstanding of $ 3million at June 30, 2025 and $ 4million carried at fair value with contractual principal outstanding of $ 4million at December 31, 2024.

Fair Value of Financial Instruments

The following section summarizes the estimated fair value for financial instruments accounted for at amortized cost as of June 30, 2025 and December 31, 2024. In accordance with disclosure guidance related to fair values of financial instruments, the Company did not include assets and liabilities that are not financial instruments, such as the value of goodwill, long-term relationships with deposit, credit card, merchant processing and trust customers, other purchased intangibles, premises and equipment, deferred taxes and other liabilities. Additionally, in accordance with the disclosure guidance, receivables and payables due in one year or less, insurance contracts, equity investments not accounted for at fair value, and deposits with no defined or contractual maturities are excluded.

The estimated fair values of the Company’s financial instruments are shown in the table below:

|                                                                     |     | June 30, 2025 |         |                 |            |        |         |   |        |         |   |         |       |   |         |         | December 31, 2024 |         |                 |            |        |         |   |        |       |   |         |     |   |         |
|:--------------------------------------------------------------------|:----|:--------------|--------:|:----------------|:-----------|-------:|:--------|:--|-------:|:--------|:--|--------:|:------|:--|--------:|:--------|:------------------|--------:|:----------------|:-----------|-------:|:--------|:--|-------:|:------|:--|--------:|:----|:--|--------:|
|                                                                     |     |               |         | Carrying Amount | Fair Value |        |         |   |        |         |   |         |       |   |         |         |                   |         | Carrying Amount | Fair Value |        |         |   |        |       |   |         |     |   |         |
| (Dollars in Millions)                                               |     |               |         | Level 1         |            |        | Level 2 |   |        | Level 3 |   |         | Total |   |         | Level 1 |                   |         |