Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 80

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 80
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284 — 2 — 794 Foreign currency translation adjustment(a)— — — — — 4 4 Reclassification to earnings of realized (gains) losses— 111 60 (1)— — 170 Applicable income taxes(129)(28)(88)— (1)— (246)Balance at end of period$(4,699)$(3,082)$(297)$(956)$2 $(10)$(9,042)2024      Balance at beginning of period$(5,151)$(3,537)$(242)$(1,138)$— $(28)$(10,096)Changes in unrealized gains (losses)(171)— (343)— — — (514)Foreign currency translation adjustment(a)— — — — — 6 6 Reclassification to earnings of realized (gains) losses(2)114 49 — — — 161 Applicable income taxes45 (29)75 — — (1)90 Balance at end of period$(5,279)$(3,452)$(461)$(1,138)$— $(23)$(10,353)(a)Represents the impact of changes in foreign currency exchange rates on the Company’s investment in foreign operations and related hedges. Additional detail about the impact to net income for items reclassified out of accumulated other comprehensive income (loss) and into earnings is as follows:  Impact to Net Income   Three Months EndedMarch 31Affected Line Item in the  Consolidated Statement of Income(Dollars in Millions)20252024Unrealized gains (losses) on investment securities available-for-saleRealized gains (losses) on sales of investment securities$— $2 Securities gains (losses), net— (1)Applicable income taxes— 1 Net-of-taxUnrealized gains (losses) on investment securities transferred from available-for-sale to held-to-maturityAmortization of unrealized gains (losses)(111)(114)Interest income28 29 Applicable income taxes(83)(85)Net-of-taxUnrealized gains (losses) on derivative hedgesRealized gains (losses) on derivative hedges(60)(49)Net interest income15 13 Applicable income taxes(45)(36)Net-of-taxUnrealized gains