EX-12 2 d595135dex12.htm EX-12 EX-12

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges

 

(Dollars in Millions)    Three Months Ended
September 30, 2013		      Nine Months Ended
September 30, 2013		  

Earnings

  

   

  1. Net income attributable to U.S. Bancorp

    $ 1,468       $ 4,380   

  2. Applicable income taxes, including expense related to unrecognized tax positions

      542         1,629   
                 

  3. Net income attributable to U.S. Bancorp before income taxes (1 + 2)

    $ 2,010       $ 6,009   
                 

  4. Fixed charges:

      

 a. Interest expense excluding interest on deposits*

    $ 276       $ 857   

 b. Portion of rents representative of interest and amortization of debt expense

      27         81   
                 

 c. Fixed charges excluding interest on deposits (4a + 4b)

    $ 303       $ 938   

 d. Interest on deposits

      134         433   
                 

 e. Fixed charges including interest on deposits (4c + 4d)

    $ 437       $ 1,371   
                 

  5. Amortization of interest capitalized

    $ —       $ —   

  6. Earnings excluding interest on deposits (3 + 4c + 5)

      2,313         6,947   

  7. Earnings including interest on deposits (3 + 4e + 5)

      2,447         7,380   

  8. Fixed charges excluding interest on deposits (4c)

      303         938   

  9. Fixed charges including interest on deposits (4e)

      437         1,371   

Ratio of Earnings to Fixed Charges

      

10. Excluding interest on deposits (line 6/line 8)

      7.63         7.41   

11. Including interest on deposits (line 7/line 9)

      5.60         5.38   
                   

 

* Excludes interest expense related to unrecognized tax positions

 

84    U. S. Bancorp