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Consolidated Statement of Income (Unaudited) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Interest Income        
Loans $ 2,650 $ 2,621 $ 7,919 $ 7,736
Loans held for sale 76 42 208 139
Investment securities 438 470 1,376 1,357
Other interest income 63 67 184 187
Total interest income 3,227 3,200 9,687 9,419
Interest Expense        
Deposits 172 202 530 646
Short-term borrowings 103 143 353 407
Long-term debt 226 289 786 860
Total interest expense 501 634 1,669 1,913
Net interest income 2,726 2,566 8,018 7,506
Provision for credit losses 488 519 1,439 1,846
Net interest income after provision for credit losses 2,238 2,047 6,579 5,660
Noninterest Income        
Credit and debit card revenue 213 289 650 842
Corporate payment products revenue 201 203 566 563
Merchant processing services 345 338 1,041 977
ATM processing services 87 115 263 341
Trust and investment management fees 265 241 779 755
Deposit service charges 174 183 483 488
Treasury management fees 135 137 411 418
Commercial products revenue 225 212 652 621
Mortgage banking revenue 519 245 1,461 683
Investment products fees and commissions 38 31 111 98
Securities gains (losses), net        
Realized gains (losses), net 16   46 2
Total other-than-temporary impairment (13) (11) (61) (41)
Portion of other-than-temporary impairment recognized in other comprehensive income (2) 2 (3) 17
Total securities gains (losses), net 1 (9) (18) (22)
Other 193 186 591 565
Total noninterest income 2,396 2,171 6,990 6,329
Noninterest Expense        
Compensation 1,109 1,021 3,237 2,984
Employee benefits 225 203 714 643
Net occupancy and equipment 233 252 683 750
Professional services 144 100 364 252
Marketing and business development 96 102 285 257
Technology and communications 205 189 607 563
Postage, printing and supplies 75 76 226 226
Other intangibles 67 75 208 225
Other 455 458 1,446 1,315
Total noninterest expense 2,609 2,476 7,770 7,215
Income before income taxes 2,025 1,742 5,799 4,774
Applicable income taxes 593 490 1,684 1,314
Net income 1,432 1,252 4,115 3,460
Net (income) loss attributable to noncontrolling interests 42 21 112 62
Net income attributable to U.S. Bancorp 1,474 1,273 4,227 3,522
Net income applicable to U.S. Bancorp common shareholders $ 1,404 $ 1,237 $ 4,034 $ 3,407
Earnings per common share $ 0.74 $ 0.65 $ 2.13 $ 1.78
Diluted earnings per common share $ 0.74 $ 0.64 $ 2.12 $ 1.77
Dividends declared per common share $ 0.195 $ 0.125 $ 0.585 $ 0.375
Average common shares outstanding 1,886 1,915 1,892 1,918
Average diluted common shares outstanding 1,897 1,922 1,901 1,926