U.S. Bancorp (USB) financial statements (2020 and earlier)

Company profile

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

Balance sheet (Statement of financial position) ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments22,40521,45319,50515,70511,14710,654 
Cash and cash equivalents22,40521,45319,50515,70511,14710,654 
Disposal group, including discontinued operation     4,792 
Total current assets:22,40521,45319,50515,70511,14715,446 
Noncurrent Assets
Property, plant and equipment3,7022,4572,4322,4432,5132,6182,606
Intangible assets, net (including goodwill)12,87812,76112,66212,64712,71112,55112,734
Goodwill9,6559,3699,4349,3449,3619,3899,205
Intangible assets, net (excluding goodwill)3,2233,3923,2283,3033,3503,1623,529
Total noncurrent assets:16,58015,21815,09415,09015,22415,16915,340
Other undisclosed assets456,441430,703427,441415,169395,482371,914348,681
TOTAL ASSETS:495,426467,374462,040445,964421,853402,529364,021
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt23,72314,13916,65113,96327,87729,89327,608
Securities loaned50227111223 47 
Total current liabilities:23,77314,36616,76214,18627,87729,94027,608
Noncurrent Liabilities
Liabilities, other than long-term debt  1919191941
Estimated litigation liability  1919191941
Total noncurrent liabilities:  1919191941
Other undisclosed liabilities419,170401,351395,593383,826347,140328,402294,565
Total liabilities:442,943415,717412,374398,031375,036358,361322,214
Stockholders' equity
Stockholders' equity attributable to parent, including:51,85351,02949,04047,29846,13143,47941,113
Common stock21212121212121
Treasury stock, value(24,440)(20,188)(17,602)(15,280)(13,125)(11,245)(9,476)
Additional paid in capital8,4758,4698,4648,4408,3768,3138,216
Accumulated other comprehensive loss(1,373)(2,322)(1,404)(1,535)(1,019)(896)(1,071)
Retained earnings63,18659,06554,14250,15146,37742,53038,667
Other undisclosed stockholders' equity attributable to parent5,9845,9845,4195,5015,5014,7564,756
Stockholders' equity attributable to noncontrolling interest630628626635686689694
Total stockholders' equity:52,48351,65749,66647,93346,81744,16841,807
TOTAL LIABILITIES AND EQUITY:495,426467,374462,040445,964421,853402,529364,021

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues7322,63722,05721,30820,30620,16119,602
Gain on disposition of assets for financial service operations73 
Net investment income 16,17314,38513,16712,40212,228 
Financial services revenue6,0245,8295,5533,975 
Cost of revenue(1,504)(1,379)(1,390)(1,324)(1,132)(1,229) 
Provision for loan, lease, and other losses(1,504)(1,379)
Financial services costs(1,390)(1,324)(1,132)(1,229) 
Gross profit:(1,431)21,25820,66719,98419,17418,93219,602
Operating expenses (10,755)(3,455)(9,701)(9,112)(9,490)(1,725)
Other operating income, net
(Noninterest Income, Other Operating Income)
     1,040569
Operating income (loss):(1,431)10,50317,21210,28310,06210,48218,446
Nonoperating income
(Investment Income, Nonoperating)
     1123
Interest and debt expense(4,442)(3,254)(2,144)(1,639)(1,401)(1,453)(1,681)
Income (loss) from continuing operations before equity method investments, income taxes:(5,873)7,24915,0688,6448,6619,04016,788
Other undisclosed income (loss) from continuing operations before income taxes14,4671,429(7,551)(539)(631)(1,045)(9,024)
Income from continuing operations before income taxes:8,5948,6787,5178,1058,0307,9957,764
Income tax expense(1,648)(1,554)(1,264)(2,161)(2,097)(2,087)(2,032)
Net income:6,9467,1246,2535,9445,9335,9085,732
Net income (loss) attributable to noncontrolling interest(32)(28)(35)(56)(54)(57)104
Net income attributable to parent:6,9147,0966,2185,8885,8795,8515,836
Preferred stock dividends and other adjustments      (8)
Undistributed earnings (loss) allocated to participating securities, basic(29)(30)(28)
Other undisclosed net loss available to common stockholders, basic(302)(282)(277)(299)(271)(268)(276)
Net income available to common stockholders, diluted:6,5836,7845,9135,5895,6085,5835,552

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:6,9467,1246,2535,9445,9335,9085,732
Other comprehensive income (loss)949(618)131(516)(123)175(148)
Comprehensive income:7,8956,5066,3845,4285,8106,0835,584
Comprehensive loss, net of tax, attributable to noncontrolling interest(32)(28)(35)(56)(54)(57)(104)
Other undisclosed comprehensive income, net of tax, attributable to parent      208
Comprehensive income, net of tax, attributable to parent:7,8636,4786,3495,3725,7566,0265,688

Statements sources

The financial statements are based on the company's filings with the 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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