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Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Interest Income      
Loans $ 22,324 $ 13,603 $ 10,747
Loans held for sale 147 201 232
Investment securities 4,485 3,378 2,365
Other interest income 3,051 763 143
Total interest income 30,007 17,945 13,487
Interest Expense      
Deposits 8,775 1,872 320
Short-term borrowings 1,971 565 70
Long-term debt 1,865 780 603
Total interest expense 12,611 3,217 993
Net interest income 17,396 14,728 12,494
Provision for credit losses 2,275 1,977 (1,173)
Net interest income after provision for credit losses 15,121 12,751 13,667
Noninterest Income      
Card revenue 1,630 1,512 1,507
Corporate payment products revenue 759 698 575
Merchant processing services 1,659 1,579 1,449
Trust and investment management fees 2,459 2,209 1,832
Service charges 1,306 1,298 1,338
Commercial products revenue 1,372 1,105 1,102
Mortgage banking revenue 540 527 1,361
Investment products fees 279 235 239
Securities gains (losses), net (145) 20 103
Other 758 273 721
Total noninterest income 10,617 9,456 10,227
Noninterest Expense      
Compensation and employee benefits 10,416 9,157 8,728
Net occupancy and equipment 1,266 1,096 1,048
Professional services 560 529 492
Marketing and business development 726 456 366
Technology and communications 2,049 1,726 1,728
Other intangibles 636 215 159
Merger and integration charges 1,009 329 0
Other 2,211 1,398 1,207
Total noninterest expense 18,873 14,906 13,728
Income before income taxes 6,865 7,301 10,166
Applicable income taxes 1,407 1,463 2,181
Net income (loss) 5,458 5,838 7,985
Net (income) loss attributable to noncontrolling interests (29) (13) (22)
Net income (loss) attributable to U.S. Bancorp 5,429 5,825 7,963
Net income applicable to U.S. Bancorp common shareholders 5,051 5,501 7,605
Net income applicable to U.S. Bancorp common shareholders, diluted $ 5,051 $ 5,501 $ 7,605
Earnings per common share (in dollars per share) $ 3.27 $ 3.69 $ 5.11
Diluted earnings per common share (in dollars per share) $ 3.27 $ 3.69 $ 5.10
Average common shares outstanding (in shares) 1,543 1,489 1,489
Average diluted common shares outstanding (in shares) 1,543 1,490 1,490