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Earnings Per Share - Components of Earnings Per Share (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Earnings Per Share [Abstract]    
Net income attributable to U.S. Bancorp $ 1,319 $ 1,698
Preferred dividends (102) [1] (98) [2]
Earnings allocated to participating stock awards (8) (8)
Net income applicable to U.S. Bancorp common shareholders 1,209 1,592
Net income applicable to U.S. Bancorp common shareholders, diluted $ 1,209 $ 1,592
Average common shares outstanding (in shares) 1,559 1,532
Average diluted common shares outstanding (in shares) 1,559 1,532
Earnings per common share (in dollars per share) $ 0.78 $ 1.04
Diluted earnings per common share (in dollars per share) $ 0.78 $ 1.04
[1] 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.
[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.