Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 222

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Chunk 222
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         | $ |  13,291 |       |

Note: Excluded from the table above are equity investments without readily determinable fair values. The Company has elected to carry these investments at historical cost, adjusted for impairment and any changes resulting from observable price changes for identical or similar investments of the issuer. The aggregate carrying amount of these equity investments was $ 169million and $ 159million at June 30, 2025 and December 31, 2024, respectively, and reflect no impairment or observable price change adjustment at both June 30, 2025 and December 31, 2024. The Company did not record any adjustments for observable price changes during the first six months of 2025 and 2024.

(a) Primarily represents the Company’s obligation on securities sold short required to be accounted for at fair value per applicable accounting guidance.

| 68 |     | U.S. Bancorp |

The following table presents the changes in fair value for all assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

| Three Months Ended June 30            
 (Dollars in Millions)                 
 2025                                  |     |   |        | Beginning of Period Balance |   |        | Net Gains (Losses) Included in Net Income |    |     |   |     | Purchases |   |      | Sales |     |   |     | Issuances |    |     |   |       | Settlements |     |   |        | End of Period Balance |   |       | Net Change in Unrealized Gains (Losses) Relating to Assets and Liabilities Held at End of Period |    |
|:--------------------------------------|:----|:--|-------:|:----------------------------|:--|-------:|:------------------------------------------|:---|:----|:--|----:|:----------|:--|-----:|:------|:----|:--|----:|:----------|:---|:----|:--|------:|:------------|:----|:--|-------:|:----------------------|:--|------:|:-------------------------------------------------------------------------------------------------|:---|
| Mortgage servicing rights             |     | $ |  3,312 |                             | $ |    -71 |                                           | -a |     | $ |   — |           | $ |    — |       |     | $ |  64 |           | -c |     |