U.S. Bancorp (USB) Financial Statements (2024 and earlier)

Company Profile

Business Address U.S. BANCORP
MINNEAPOLIS, MN 55402-7020
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2023
MRQ
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments53,542,00028,905,00062,580,00022,405,00021,453,00019,505,000
Cash and cash equivalents53,542,00028,905,00062,580,00022,405,00021,453,00019,505,000
Total current assets:53,542,00028,905,00062,580,00022,405,00021,453,00019,505,000
Noncurrent Assets
Property, plant and equipment3,858,0003,305,0003,468,0003,702,0002,457,0002,432,000
Intangible assets, net (including goodwill)19,528,00014,000,00012,782,00012,878,00012,761,00012,662,000
Goodwill12,373,00010,262,0009,918,0009,655,0009,369,0009,434,000
Intangible assets, net (excluding goodwill)7,155,0003,738,0002,864,0003,223,0003,392,0003,228,000
Total noncurrent assets:23,386,00017,305,00016,250,00016,580,00015,218,00015,094,000
Other undisclosed assets597,877,000527,074,000475,075,000456,441,000430,703,000427,441,000
TOTAL ASSETS:674,805,000573,284,000553,905,000495,426,000467,374,000462,040,000
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt31,216,00011,796,00011,766,00023,723,00014,139,00016,651,000
Securities loaned120,000169,000218,00050,000227,000111,000
Total current liabilities:31,336,00011,965,00011,984,00023,773,00014,366,00016,762,000
Noncurrent Liabilities
Liabilities, other than long-term debt      19,000
Estimated litigation liability      19,000
Total noncurrent liabilities:      19,000
Other undisclosed liabilities592,237,000505,932,000488,196,000419,170,000401,351,000395,593,000
Total liabilities:623,573,000517,897,000500,180,000442,943,000415,717,000412,374,000
Equity
Equity, attributable to parent, including:50,766,00054,918,00053,095,00051,853,00051,029,00049,040,000
Common stock21,00021,00021,00021,00021,00021,000
Treasury stock, value(25,269,000)(27,271,000)(25,930,000)(24,440,000)(20,188,000)(17,602,000)
Additional paid in capital8,712,0008,539,0008,511,0008,475,0008,469,0008,464,000
Accumulated other comprehensive income (loss)(11,407,000)(1,943,000)322,000(1,373,000)(2,322,000)(1,404,000)
Retained earnings71,901,00069,201,00064,188,00063,186,00059,065,00054,142,000
Other undisclosed equity, attributable to parent6,808,0006,371,0005,983,0005,984,0005,984,0005,419,000
Equity, attributable to noncontrolling interest466,000469,000630,000630,000628,000626,000
Total equity:51,232,00055,387,00053,725,00052,483,00051,657,00049,666,000
TOTAL LIABILITIES AND EQUITY:674,805,000573,284,000553,905,000495,426,000467,374,000462,040,000

Income Statement (P&L) ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Revenues20,000103,000177,00073,00022,637,00022,057,000
Gain (loss) on disposition of assets for financial service operations20,000103,000177,00073,000 
Net investment income    16,173,00014,385,000
Financial services revenue6,024,000
Cost of revenue(1,977,000) (3,806,000)(1,504,000)(1,379,000)(1,390,000)
Provision for loan, lease, and other losses(1,977,000) (3,806,000)(1,504,000)(1,379,000)
Financial services costs(1,390,000)
Gross profit:(1,957,000)103,000(3,629,000)(1,431,000)21,258,00020,667,000
Operating expenses    (10,755,000)(3,455,000)
Other operating income, net
(Noninterest Income, Other Operating Income)
273,000721,000748,000   
Operating income (loss):(1,684,000)824,000(2,881,000)(1,431,000)10,503,00017,212,000
Interest and debt expense(3,217,000)(993,000)(2,015,000)(4,442,000)(3,254,000)(2,144,000)
Income (loss) from continuing operations before equity method investments, income taxes:(4,901,000)(169,000)(4,896,000)(5,873,000)7,249,00015,068,000
Other undisclosed income (loss) from continuing operations before income taxes12,202,00010,335,00010,947,00014,467,0001,429,000(7,551,000)
Income from continuing operations before income taxes:7,301,00010,166,0006,051,0008,594,0008,678,0007,517,000
Income tax expense(1,463,000)(2,181,000)(1,066,000)(1,648,000)(1,554,000)(1,264,000)
Income from continuing operations:5,838,0007,985,0004,985,0006,946,0007,124,0006,253,000
Income before gain (loss) on sale of properties:7,985,0004,985,0006,946,0007,124,0006,253,000
Net income:5,838,0007,985,0004,985,0006,946,0007,124,0006,253,000
Net loss attributable to noncontrolling interest(13,000)(22,000)(26,000)(32,000)(28,000)(35,000)
Net income attributable to parent:5,825,0007,963,0004,959,0006,914,0007,096,0006,218,000
Undistributed earnings (loss) allocated to participating securities, basic(28,000)(38,000)(21,000)(29,000)(30,000)(28,000)
Other undisclosed net loss available to common stockholders, basic(296,000)(320,000)(317,000)(302,000)(282,000)(277,000)
Net income available to common stockholders, diluted:5,501,0007,605,0004,621,0006,583,0006,784,0005,913,000

Comprehensive Income ($ in thousands)

9/30/2023
TTM
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
Net income:5,838,0007,985,0004,985,0006,946,0007,124,0006,253,000
Other comprehensive income (loss)(9,464,000)(2,265,000)1,695,000949,000(618,000)131,000
Comprehensive income (loss):(3,626,000)5,720,0006,680,0007,895,0006,506,0006,384,000
Comprehensive loss, net of tax, attributable to noncontrolling interest(13,000)(22,000)(26,000)(32,000)(28,000)(35,000)
Comprehensive income (loss), net of tax, attributable to parent:(3,639,000)5,698,0006,654,0007,863,0006,478,0006,349,000

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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