Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2012

Components of Earnings Per Share

The components of earnings per share were:

	Three Months Ended September 30,						Nine Months Ended September 30,
(Dollars and Shares in Millions, Except Per Share Data)	2012			2011			2012			2011
Net income attributable to U.S. Bancorp	$	1,474		$	1,273		$	4,227		$	3,522
Preferred dividends		(64	)		(30	)		(174	)		(99	)
Earnings allocated to participating stock awards		(6	)		(6	)		(19	)		(16	)
Net income applicable to U.S. Bancorp common shareholders	$	1,404		$	1,237		$	4,034		$	3,407
Average common shares outstanding		1,886			1,915			1,892			1,918
Net effect of the exercise and assumed purchase of stock awards and conversion of outstanding convertible notes		11			7			9			8
Average diluted common shares outstanding		1,897			1,922			1,901			1,926
Earnings per common share	$	.74		$	.65		$	2.13		$	1.78
Diluted earnings per common share	$	.74		$	.64		$	2.12		$	1.77