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 millions)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments70,64268,22853,54241,65239,12444,303
Cash and cash equivalents70,64268,22853,54241,65239,12444,303
Total current assets:70,64268,22853,54241,65239,12444,303
Noncurrent Assets
Property, plant and equipment3,6953,7353,8583,1553,1773,207
Intangible assets, net (including goodwill)19,12019,44319,52814,72914,64414,444
Goodwill12,48612,56012,37310,12510,15710,250
Intangible assets, net (excluding goodwill)6,6346,8837,1554,6044,4874,194
Total noncurrent assets:22,81523,17823,38617,88417,82117,651
Other undisclosed assets587,368590,971597,877541,437534,436524,563
TOTAL ASSETS:680,825682,377674,805600,973591,381586,517
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt32,33456,87531,21625,06624,96321,042
Securities loaned18220312018822570
Total current liabilities:32,51657,07831,33625,25425,18821,112
Noncurrent Liabilities
Other undisclosed liabilities594,825571,845592,237527,741517,124513,737
Total liabilities:627,341628,923623,573552,995542,312534,849
Equity
Equity, attributable to parent, including:53,01952,98950,76647,51348,60551,200
Common stock212121212121
Treasury stock, value(25,189)(25,193)(25,269)(27,188)(27,190)(27,193)
Additional paid in capital8,7428,6998,7128,5908,5558,515
Accumulated other comprehensive loss(10,718)(10,153)(11,407)(12,500)(10,361)(6,938)
Retained earnings73,35572,80771,90171,78270,77269,987
Other undisclosed equity, attributable to parent6,8086,8086,8086,8086,8086,808
Equity, attributable to noncontrolling interest465465466465464468
Total equity:53,48453,45451,23247,97849,06951,668
TOTAL LIABILITIES AND EQUITY:680,825682,377674,805600,973591,381586,517

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

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Revenues7,7167,122(12,550)4,9194,0303,621
Net investment income7,5266,964(11,971)4,7283,8253,418
Cost of revenue
(Provision for Loan, Lease, and Other Losses)
(821)(427)(1,192)(362)(311)(112)
Gross profit:6,8956,695(13,742)4,5573,7193,509
Operating expenses(1,260)(1,369)9,708(3,259)(3,187)(3,223)
Other operating income (expense), net
(Noninterest Income, Other Operating Income)
173159(197)170142158
Operating income (loss):5,8085,485(4,231)1,468674444
Interest and debt expense(3,111)(2,330)(1,681)(901)(390)(245)
Income (loss) from continuing operations before equity method investments, income taxes:2,6973,155(5,912)567284199
Other undisclosed income (loss) from continuing operations before income taxes(946)(996)7,0131,7301,6641,756
Income from continuing operations before income taxes:1,7512,1591,1012,2971,9481,955
Income tax expense(382)(455)(171)(481)(414)(397)
Income from continuing operations:1,3691,7049301,8161,5341,558
Income before gain (loss) on sale of properties:1,8161,5341,558
Net income:1,3691,7049301,8161,5341,558
Net loss attributable to noncontrolling interest(8)(6)(5)(4)(3)(1)
Net income attributable to parent:1,3611,6989251,8121,5311,557
Undistributed earnings (loss) allocated to participating securities, basic(7)(8)(4)(9)(8)(7)
Other undisclosed net loss available to common stockholders, basic(73)(98)(68)(85)(59)(84)
Net income available to common stockholders, diluted:1,2811,5928531,7181,4641,466

Comprehensive Income ($ in millions)

9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
3/31/2022
Q1
Net income:1,3691,7049301,8161,5341,558
Other comprehensive income (loss)(565)1,2541,093(2,139)(3,423)(4,995)
Comprehensive income (loss):8042,9582,023(323)(1,889)(3,437)
Comprehensive loss, net of tax, attributable to noncontrolling interest(8)(6)(5)(4)(3)(1)
Comprehensive income (loss), net of tax, attributable to parent:7962,9522,018(327)(1,892)(3,438)

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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