Earnings Per Share

3 Months Ended

Mar. 31, 2013

Earnings Per Share [Abstract]

Earnings Per Share

Note 8 Earnings Per Share

The components of earnings per share were:

	Three Months Ended March 31,
(Dollars and Shares in Millions, Except Per Share Data)	2013			2012
Net income attributable to U.S. Bancorp	$	1,428		$	1,338
Preferred dividends		(64	)		(46	)
Earnings allocated to participating stock awards		(6	)		(7	)
Net income applicable to U.S. Bancorp common shareholders	$	1,358		$	1,285
Average common shares outstanding		1,858			1,901
Net effect of the exercise and assumed purchase of stock awards		9			9
Average diluted common shares outstanding		1,867			1,910
Earnings per common share	$	.73		$	.68
Diluted earnings per common share	$	.73		$	.67

Options and warrants outstanding at March 31, 2013 and 2012, to purchase 11 million and 45 million common shares, respectively, were not included in the computation of diluted earnings per share for the three months ended March 31, 2013 and 2012, respectively, because they were antidilutive. Convertible senior debentures outstanding at March 31, 2012, that could potentially be converted into shares of the Company’s common stock pursuant to specified formulas, were not included in the computation of dilutive earnings per share for the three months ended March 31, 2012, because they were antidilutive.