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Consolidated Statement of Income (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest Income        
Loans $ 2,631 $ 2,563 $ 5,269 $ 5,115
Loans held for sale 67 34 132 97
Investment securities 470 459 938 887
Other interest income 60 63 121 120
Total interest income 3,228 3,119 6,460 6,219
Interest Expense        
Deposits 177 210 358 444
Short-term borrowings 127 131 250 264
Long-term debt 266 290 560 571
Total interest expense 570 631 1,168 1,279
Net interest income 2,658 2,488 5,292 4,940
Provision for credit losses 470 572 951 1,327
Net interest income after provision for credit losses 2,188 1,916 4,341 3,613
Noninterest Income        
Credit and debit card revenue 235 286 437 553
Corporate payment products revenue 190 185 365 360
Merchant processing services 359 338 696 639
ATM processing services 89 114 176 226
Trust and investment management fees 262 258 514 514
Deposit service charges 156 162 309 305
Treasury management fees 142 144 276 281
Commercial products revenue 216 218 427 409
Mortgage banking revenue 490 239 942 438
Investment products fees and commissions 38 35 73 67
Securities gains (losses), net        
Realized gains (losses), net 21 1 30 2
Total other-than-temporary impairment (39) (19) (48) (30)
Portion of other-than-temporary impairment recognized in other comprehensive income (1) 10 (1) 15
Total securities gains (losses), net (19) (8) (19) (13)
Other 197 175 398 379
Total noninterest income 2,355 2,146 4,594 4,158
Noninterest Expense        
Compensation 1,076 1,004 2,128 1,963
Employee benefits 229 210 489 440
Net occupancy and equipment 230 249 450 498
Professional services 136 82 220 152
Marketing and business development 80 90 189 155
Technology and communications 201 189 402 374
Postage, printing and supplies 77 76 151 150
Other intangibles 70 75 141 150
Other 502 450 991 857
Total noninterest expense 2,601 2,425 5,161 4,739
Income before income taxes 1,942 1,637 3,774 3,032
Applicable income taxes 564 458 1,091 824
Net income 1,378 1,179 2,683 2,208
Net (income) loss attributable to noncontrolling interests 37 24 70 41
Net income attributable to U.S. Bancorp 1,415 1,203 2,753 2,249
Net income applicable to U.S. Bancorp common shareholders $ 1,345 $ 1,167 $ 2,630 $ 2,170
Earnings per common share $ 0.71 $ 0.61 $ 1.39 $ 1.13
Diluted earnings per common share $ 0.71 $ 0.60 $ 1.38 $ 1.12
Dividends declared per common share $ 0.195 $ 0.125 $ 0.390 $ 0.250
Average common shares outstanding 1,888 1,921 1,895 1,920
Average diluted common shares outstanding 1,898 1,929 1,904 1,929