Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2013

Equity [Abstract]

Number of Shares Issued and Outstanding and Carrying Amount of Preferred Stock

The number of shares issued and outstanding and the carrying amount of each outstanding series of the Company’s preferred stock was as follows:

	2013								2012
At December 31, (Dollars in Millions)	Shares Issued and Outstanding		Liquidation Preference		Discount		Carrying Amount		Shares Issued and Outstanding		Liquidation Preference		Discount		Carrying Amount
Series A		12,510	$	1,251	$	145	$	1,106		12,510	$	1,251	$	145	$	1,106
Series B		40,000		1,000		–		1,000		40,000		1,000		–		1,000
Series D		–		–		–		–		20,000		500		–		500
Series F		44,000		1,100		12		1,088		44,000		1,100		12		1,088
Series G		43,400		1,085		10		1,075		43,400		1,085		10		1,075
Series H		20,000		500		13		487		–		–		–		–
Total preferred stock (a)		159,910	$	4,936	$	180	$	4,756		159,910	$	4,936	$	167	$	4,769

(a) The par value of all shares issued and outstanding at December 31, 2013 and 2012, was $1.00 per share.

Common Stock Repurchased

The following table summarizes the Company’s common stock repurchased in each of the last three years:

(Dollars and Shares in Millions)	Shares		Value
2013		65	$	2,336
2012		59		1,878
2011		22		550

Reconciliation of Transactions Affecting Accumulated Other Comprehensive Income (Loss) Included in Shareholders' Equity

Shareholders’ equity is affected by transactions and valuations of asset and liability positions that require adjustments to accumulated other comprehensive income (loss). The reconciliation of the transactions affecting accumulated other comprehensive income (loss) included in shareholders’ equity for the years ended December 31, is as follows:

(Dollars in Millions)	Unrealized Gains (Losses) on Securities Available-For-Sale			Unrealized Gains (Losses) on Securities Transferred From Available-For-Sale to Held-To-Maturity			Unrealized Gains (Losses) on Derivative Hedges			Unrealized Gains (Losses) on Retirement Plans			Foreign Currency Translation			Total
2013
Balance at beginning of period	$	679		$	107		$	(404	)	$	(1,265	)	$	(40	)	$	(923	)
Changes in unrealized gains and losses		(1,223	)		–			37			590			–			(596	)
Other-than-temporary impairment not recognized in earnings on securities available-for-sale		8			–			–			–			–			8
Foreign currency translation adjustment		–			–			–			–			(34	)		(34	)
Reclassification to earnings of realized gains and losses		(9	)		(59	)		192			249			–			373
Applicable income taxes		468			22			(86	)		(317	)		14			101
Balance at end of period	$	(77	)	$	70		$	(261	)	$	(743	)	$	(60	)	$	(1,071	)
2012
Balance at beginning of period	$	360		$	–		$	(489	)	$	(1,022	)	$	(49	)	$	(1,200	)
Changes in unrealized gains and losses		715			–			(74	)		(543	)		–			98
Other-than-temporary impairment not recognized in earnings on securities available-for-sale		12			–			–			–			–			12
Transfer of securities from available-for-sale to held-to-maturity		(224	)		224			–			–			–			–
Foreign currency translation adjustment		–			–			–			–			14			14
Reclassification to earnings of realized gains and losses		15			(51	)		211			150			–			325
Applicable income taxes		(199	)		(66	)		(52	)		150			(5	)		(172	)
Balance at end of period	$	679		$	107		$	(404	)	$	(1,265	)	$	(40	)	$	(923	)
2011
Balance at beginning of period	$	(213	)	$	–		$	(414	)	$	(803	)	$	(39	)	$	(1,469	)
Changes in unrealized gains and losses		920			–			(343	)		(464	)		–			113
Other-than-temporary impairment not recognized in earnings on securities available-for-sale		(25	)		–			–			–			–			(25	)
Foreign currency translation adjustment		–			–			–			–			(16	)		(16	)
Reclassification to earnings of realized gains and losses		31			–			222			110			–			363
Applicable income taxes		(353	)		–			46			135			6			(166	)
Balance at end of period	$	360		$	–		$	(489	)	$	(1,022	)	$	(49	)	$	(1,200	)

Impact to Net Income for Items Reclassified out of Accumulated Other Comprehensive Income and into Earnings

Additional detail about the impact to net income for items reclassified out of accumulated other comprehensive income and into earnings for the year ended December 31, 2013, is as follows:

(Dollars in Millions)	Impact to Net Income			Affected Line Item in the Consolidated Statement of Income
Unrealized gains (losses) on securities available-for-sale
Realized gains (losses) on sale of securities	$	23		Total securities gains (losses), net
Other-than-temporary impairment recognized in earnings		(14	)
		9		Total before tax
		(4	)	Applicable income taxes
		5		Net-of-tax
Unrealized gains (losses) on securities transferred from available-for-sale to held-to-maturity
Amortization of unrealized gains		59		Interest income
		(22	)	Applicable income taxes
		37		Net-of-tax
Unrealized gains (losses) on derivative hedges
Realized gains (losses) on derivative hedges		(192	)	Net interest income
		74		Applicable income taxes
		(118	)	Net-of-tax
Unrealized gains (losses) on retirement plans
Actuarial gains (losses), prior service cost (credit) and transition obligation (asset) amortization		(249	)	Employee benefits expense
		96		Applicable income taxes
		(153	)	Net-of-tax
Total impact to net income	$	(229	)

Components of Company's Regulatory Capital

The following table provides the components of the Company’s regulatory capital at December 31:

(Dollars in Millions)	2013			2012
Tier 1 Capital
Common shareholders’ equity	$	36,357		$	34,229
Qualifying preferred stock		4,756			4,769
Noncontrolling interests, less preferred stock not eligible for Tier 1 capital		688			685
Less intangible assets
Goodwill (net of deferred tax liability)		(8,343	)		(8,351	)
Other disallowed intangible assets		(708	)		(829	)
Other (a)		636			700
Total Tier 1 Capital		33,386			31,203
Tier 2 Capital
Eligible portion of allowance for credit losses		3,734			3,609
Eligible subordinated debt		2,299			2,953
Other		(79	)		15
Total Tier 2 Capital		5,954			6,577
Total Risk Based Capital	$	39,340		$	37,780
Risk-Weighted Assets	$	297,919		$	287,611

(a) Includes the impact of items included in other comprehensive income (loss), such as unrealized gains (losses) on available-for-sale securities, accumulated net gains on cash flow hedges, pension liability adjustments, etc.

Regulatory Capital Ratios

At December 31 (Dollars in Millions)	2013			2012
U.S. Bancorp
Tier 1 capital	$	33,386		$	31,203
As a percent of risk-weighted assets		11.2	%		10.8	%
As a percent of adjusted quarterly average assets (leverage ratio)		9.6	%		9.2	%
Total risk-based capital	$	39,340		$	37,780
As a percent of risk-weighted assets		13.2	%		13.1	%
Bank Subsidiary
U.S. Bank National Association
Tier 1 capital		10.3	%		10.6	%
Total risk-based capital		12.4			12.7
Leverage		8.8			9.0
Bank Regulatory Capital Requirements	Minimum			Well- Capitalized
Tier 1 capital		4.0	%		6.0	%
Total risk-based capital		8.0			10.0
Leverage		4.0			5.0