Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2011

Significant Accounting Policies [Abstract]

Line of Business Financial Performance

	Wholesale Banking and Commercial Real Estate								Consumer and Small Business Banking
Year Ended December 31 (Dollars in Millions)	2011		2010			Percent Change			2011			2010			Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	2,123	$	2,004			5.9	%	$	4,604		$	4,411			4.4	%
Noninterest income		1,224		1,128			8.5			2,756			2,757			–
Securities gains (losses), net		–		(1	)		*			–			–			–
Total net revenue		3,347		3,131			6.9			7,360			7,168			2.7
Noninterest expense		1,269		1,215			4.4			4,569			4,282			6.7
Other intangibles		16		16			–			72			96			(25.0	)
Total noninterest expense		1,285		1,231			4.4			4,641			4,378			6.0
Income before provision and income taxes		2,062		1,900			8.5			2,719			2,790			(2.5	)
Provision for credit losses		424		1,255			(66.2	)		1,395			1,695			(17.7	)
Income before income taxes		1,638		645			*			1,324			1,095			20.9
Income taxes and taxable-equivalent adjustment		597		234			*			481			398			20.9
Net income		1,041		411			*			843			697			20.9
Net (income) loss attributable to noncontrolling interests		4		2			*			(1	)		(3	)		66.7
Net income attributable to U.S. Bancorp	$	1,045	$	413			*		$	842		$	694			21.3
Average Balance Sheet
Commercial	$	37,459	$	33,329			12.4	%	$	7,366		$	7,272			1.3	%
Commercial real estate		19,204		19,595			(2.0	)		15,537			13,821			12.4
Residential mortgages		67		80			(16.3	)		33,245			27,242			22.0
Credit card		–		–			–			–			–			–
Other retail		5		34			(85.3	)		45,730			45,036			1.5
Total loans, excluding covered loans		56,735		53,038			7.0			101,878			93,371			9.1
Covered loans		1,495		1,974			(24.3	)		8,394			9,542			(12.0	)
Total loans		58,230		55,012			5.8			110,272			102,913			7.2
Goodwill		1,604		1,608			(.2	)		3,520			3,538			(.5	)
Other intangible assets		52		69			(24.6	)		2,042			1,906			7.1
Assets		64,062		60,208			6.4			124,361			117,332			6.0
Noninterest-bearing deposits		25,172		17,226			46.1			17,903			16,601			7.8
Interest checking		12,691		13,547			(6.3	)		26,565			23,800			11.6
Savings products		9,309		11,614			(19.8	)		40,566			36,120			12.3
Time deposits		14,511		11,594			25.2			24,437			25,835			(5.4	)
Total deposits		61,683		53,981			14.3			109,471			102,356			7.0
Total U.S. Bancorp shareholders’ equity		5,586		5,378			3.9			9,431			8,614			9.5

* Not meaningful

Wealth Management and Securities Services							Payment Services									Treasury and Corporate Support									Consolidated Company
2011		2010		Percent Change			2011			2010			Percent Change			2011			2010			Percent Change			2011			2010			Percent Change
$	358	$	293		22.2	%	$	1,350		$	1,339			.8	%	$	1,913		$	1,741			9.9	%	$	10,348		$	9,788			5.7	%
	1,050		1,110		(5.4	)		3,247			3,150			3.1			514			293			75.4			8,791			8,438			4.2
	–		–		–			–			–			–			(31	)		(77	)		59.7			(31	)		(78	)		60.3
	1,408		1,403		.4			4,597			4,489			2.4			2,396			1,957			22.4			19,108			18,148			5.3
	1,079		984		9.7			1,763			1,686			4.6			932			849			9.8			9,612			9,016			6.6
	39		53		(26.4	)		172			201			(14.4	)		–			1			*			299			367			(18.5	)
	1,118		1,037		7.8			1,935			1,887			2.5			932			850			9.6			9,911			9,383			5.6
	290		366		(20.8	)		2,662			2,602			2.3			1,464			1,107			32.2			9,197			8,765			4.9
	3		17		(82.4	)		507			1,335			(62.0	)		14			54			(74.1	)		2,343			4,356			(46.2	)
	287		349		(17.8	)		2,155			1,267			70.1			1,450			1,053			37.7			6,854			4,409			55.5
	103		126		(18.3	)		787			462			70.3			98			(76	)		*			2,066			1,144			80.6
	184		223		(17.5	)		1,368			805			69.9			1,352			1,129			19.8			4,788			3,265			46.6
	–		–		–			(40	)		(29	)		(37.9	)		121			82			47.6			84			52			61.5
$	184	$	223		(17.5	)	$	1,328		$	776			71.1		$	1,473		$	1,211			21.6		$	4,872		$	3,317			46.9
$	1,046	$	1,035		1.1	%	$	5,640		$	5,212			8.2	%	$	105		$	180			(41.7	)%	$	51,616		$	47,028			9.8	%
	579		571		1.4			–			–			–			194			282			(31.2	)		35,514			34,269			3.6
	389		368		5.7			–			–			–			10			14			(28.6	)		33,711			27,704			21.7
	–		–		–			16,084			16,400			(1.9	)		–			3			*			16,084			16,403			(1.9	)
	1,565		1,601		(2.2	)		898			1,004			(10.6	)		1			11			(90.9	)		48,199			47,686			1.1
	3,579		3,575		.1			22,622			22,616			–			310			490			(36.7	)		185,124			173,090			7.0
	12		14		(14.3	)		5			5			–			6,397			8,397			(23.8	)		16,303			19,932			(18.2	)
	3,591		3,589		.1			22,627			22,621			–			6,707			8,887			(24.5	)		201,427			193,022			4.4
	1,463		1,516		(3.5	)		2,362			2,347			.6			–			–			–			8,949			9,009			(.7	)
	184		201		(8.5	)		792			944			(16.1	)		5			7			(28.6	)		3,075			3,127			(1.7	)
	5,990		5,802		3.2			27,936			27,308			2.3			95,915			75,211			27.5			318,264			285,861			11.3
	9,739		5,489		77.4			673			634			6.2			369			212			74.1			53,856			40,162			34.1
	3,249		2,704		20.2			320			119			*			2			14			(85.7	)		42,827			40,184			6.6
	21,687		12,601		72.1			30			23			30.4			181			224			(19.2	)		71,773			60,582			18.5
	5,569		5,960		(6.6	)		–			1			*			186			403			(53.8	)		44,703			43,793			2.1
	40,244		26,754		50.4			1,023			777			31.7			738			853			(13.5	)		213,159			184,721			15.4
	2,079		2,107		(1.3	)		5,280			5,310			(.6	)		9,824			6,640			48.0			32,200			28,049			14.8