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Consolidated Statement of Shareholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Change in accounting principle
[1]
Total U.S. Bancorp Shareholders’ Equity
Total U.S. Bancorp Shareholders’ Equity
Change in accounting principle
[1]
Common Stock
Preferred Stock
Capital Surplus
Retained Earnings
Retained Earnings
Change in accounting principle
[1]
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Beginning Balance (in shares) at Dec. 31, 2022         1,531              
Beginning Balance at Dec. 31, 2022 $ 51,232 $ 46 $ 50,766 $ 46 $ 21 $ 6,808 $ 8,712 $ 71,901 $ 46 $ (25,269) $ (11,407) $ 466
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 1,704   1,698         1,698       6
Other comprehensive income (loss) 1,254   1,254               1,254  
Preferred stock dividends [2] (98)   (98)         (98)        
Common stock dividends (740)   (740)         (740)        
Issuance of common and treasury stock (in shares)         3              
Issuance of common and treasury stock 6   6       (114)     120    
Purchase of treasury stock (in shares)         (1)              
Purchase of treasury stock (44)   (44)             (44)    
Distributions to noncontrolling interests (7)                     (7)
Stock option and restricted stock grants 101   101       101          
Ending Balance (in shares) at Mar. 31, 2023         1,533              
Ending Balance at Mar. 31, 2023 53,454   52,989   $ 21 6,808 8,699 72,807   (25,193) (10,153) 465
Beginning Balance (in shares) at Dec. 31, 2023         1,558              
Beginning Balance at Dec. 31, 2023 55,771   55,306   $ 21 6,808 8,673 74,026   (24,126) (10,096) 465
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 1,326   1,319         1,319       7
Other comprehensive income (loss) (257)   (257)               (257)  
Preferred stock dividends [3] (102)   (102)         (102)        
Common stock dividends (770)   (770)         (770)        
Issuance of common and treasury stock (in shares)         3              
Issuance of common and treasury stock 13   13       (139)     152    
Purchase of treasury stock (in shares)         (1)              
Purchase of treasury stock (49)   (49)             (49)    
Distributions to noncontrolling interests (7)                     (7)
Stock option and restricted stock grants 108   108       108          
Ending Balance (in shares) at Mar. 31, 2024         1,560              
Ending Balance at Mar. 31, 2024 $ 56,033   $ 55,568   $ 21 $ 6,808 $ 8,642 $ 74,473   $ (24,023) $ (10,353) $ 465
[1] Effective January 1, 2023, the Company adopted accounting guidance which removed the separate recognition and measurement of troubled debt restructurings. Upon adoption, the Company reduced its allowance for credit losses and increased retained earnings net of deferred taxes through a cumulative-effect adjustment.
[2] Reflects dividends declared per share on the Company’s Series A, Series B, Series J, Series K, Series L, Series M, Series N and Series O Non-Cumulative Perpetual Preferred Stock of $1,462.428, $339.357, $662.50, $343.75, $234.375, $250.00, $231.25 and $281.25, respectively.
[3] Reflects dividends declared per share on the Company’s Series A, Series B, Series J, Series K, Series L, Series M, Series N and Series O Non-Cumulative Perpetual Preferred Stock of $1,667.221, $390.264, $662.50, $343.75, $234.375, $250.00, $231.25, and $281.25, respectively.