Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 103

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 103
---
 value hedges:  Carrying Amount of the Hedged Assets and LiabilitiesCumulative Hedging Adjustment (Dollars in Millions)June 30, 2025December 31, 2024June 30, 2025December 31, 2024Line Item in the Consolidated Balance Sheet    Available-for-sale investment securities(a)$28,421 $29,005 $281 $(464)Long-term debt15,752 10,632 217 39 Note:  The table above excludes the cumulative hedging adjustment related to discontinued hedging relationships on available-for-sale investment securities and long-term debt of $(47) million and $(98) million, respectively, at June 30, 2025, compared with $(72) million and $(149) million at December 31, 2024, respectively. The carrying amount of available-for-sale investment securities and long-term debt related to discontinued hedging relationships was $8.1 billion and $11.6 billion, respectively, at June 30, 2025, compared with $6.8 billion and $14.9 billion at December 31, 2024, respectively.(a)Includes amounts related to available-for-sale investment securities currently designated as the hedged item in a fair value hedge using the portfolio layer method. At June 30, 2025, the amortized cost of the closed portfolios used in these hedging relationships was $21.0 billion, of which $11.3 billion was designated as hedged. At June 30, 2025, the cumulative amount of basis adjustments associated with these hedging relationships was $302 million. At December 31, 2024, the amortized cost of the closed portfolios used in these hedging relationships was $17.5 billion, of which $11.6 billion was designated as hedged. At December 31, 2024, the cumulative amount of basis adjustments associated with these hedging relationships was $13 million.

60U.S. Bancorp

The table below shows the gains (losses) recognized in earnings for other economic hedges and the customer-related positions:  Three Months EndedJune 30Six Months EndedJune 30(Dollars in Millions)Location of Gains (Losses) Recognized in Earnings2025202420252024Asset and Liability Management Positions Other economic hedges Interest rate contracts F