Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 164

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 164
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ollars in Millions)                            |     | Three Months Ended 
 March 31           |       | 2025 |   |       | 2024 |
|:-------------------------------------------------|:----|:-------------------|------:|:-----|:--|------:|:-----|
| Taxable                                          |     | $                  | 1,234 |      | $ | 1,099 |      |
| Non-taxable                                      |     |                    |    74 |      |   |    76 |      |
| Total interest income from investment securities |     | $                  | 1,308 |      | $ | 1,175 |      |

The following table provides information about the amount of gross gains and losses realized through the sales of available-for-sale investment securities:

| (Dollars in Millions)                               |     | Three Months Ended 
 March 31           |    | 2025 |   |    | 2024 |
|:----------------------------------------------------|:----|:-------------------|---:|:-----|:--|---:|:-----|
| Realized gains                                      |     | $                  |  7 |      | $ |  3 |      |
| Realized losses                                     |     |                    | -7 |      |   | -1 |      |
| Net realized gains (losses)                         |     | $                  |  — |      | $ |  2 |      |
| Income tax (benefit) on net realized gains (losses) |     | $                  |  — |      | $ |  1 |      |

The Company conducts a regular assessment of its available-for-sale investment securities with unrealized losses to determine whether all or some portion of a security’s unrealized loss is related to credit and an allowance for credit losses is necessary. If the Company intends to sell or it is more likely than not the Company will be required to sell an investment security, the amortized cost of the security is written down to fair value. When evaluating credit losses, the Company considers various factors such as the nature of the investment security, the credit ratings or financial condition of the issuer, the extent of the unrealized loss, expected cash flows of underlying collateral, the existence of any government or agency guarantees, and market conditions. The Company measures the allowance for credit losses using market information where available and discounting the cash flows at the original effective rate of the investment security. The allowance for credit losses is adjusted each period through earnings