EX-12 2 d694900dex12.htm EX-12 EX-12

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges

 

(Dollars in Millions)    Three Months Ended
March 31, 2014		  

Earnings

  

  1. Net income attributable to U.S. Bancorp

    $ 1,397   

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

      496   
        

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

    $ 1,893   
        

  4. Fixed charges:

   

 a. Interest expense excluding interest on deposits*

    $ 253   

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

      29   
        

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

      282   

 d. Interest on deposits

      119   
        

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

    $ 401   
        

  5. Amortization of interest capitalized

    $ —   

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

      2,175   

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

      2,294   

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

      282   

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

      401   

Ratio of Earnings to Fixed Charges

   

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

      7.71   

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

      5.72   
          

 

* Excludes interest expense related to unrecognized tax positions

 

U. S. Bancorp    79