Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 114

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 114
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 and rebate costs and certain partner payments of $741 million and $739 million for the three months ended March 31, 2025 and 2024, respectively. (c)Total noninterest income includes revenue generated from certain contracts with customers of $2.3 billion and $2.2 billion for the three months ended March 31, 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 $197 million and $187 million of revenue for the three months ended March 31, 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 17Subsequent EventsThe Company has evaluated the impact of events that have occurred subsequent to March 31, 2025 through the date the consolidated financial statements were filed with the SEC. Based on this evaluation, the Company has determined none of these events were required to be recognized or disclosed in the consolidated financial statements and related notes.

68U.S. Bancorp

U.S. Bancorp 

Consolidated Daily Average Balance Sheet and Related Yields and Rates(a)For the Three Months Ended March 31202520242025 v 2024(Dollars in Millions) (Unaudited)Average BalancesInterestYields and RatesAverage BalancesInterestYields and Rates% Change Average BalancesAssetsInvestment securities(b)$171,178 $1,328 3.10 %$161,236 $1,194 2.96 %6.2 %Loans held for sale1,823 28 6.07 2,002 37 7.32 (8.9)Loans(c)Commercial140,130 2,040 5.90 130,767 2,180 6.70 7.2 Commercial real estate48,890 725 6.02 53,037 854 6.48 (7.8)Residential mortgages118,844 1,189 4.00 115,639 1,107 3.83 2.8 Credit card29,404 956 13