Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2014

Earnings Per Share [Abstract]

Components of Earnings Per Share

The components of earnings per share were:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Dollars and Shares in Millions, Except Per Share Data)	2014			2013			2014			2013
Net income attributable to U.S. Bancorp	$	1,471		$	1,468		$	4,363		$	4,380
Preferred dividends		(60	)		(61	)		(181	)		(189	)
Impact of preferred stock redemption (a)		–			–			–			(8	)
Earnings allocated to participating stock awards		(6	)		(7	)		(19	)		(20	)
Net income applicable to U.S. Bancorp common shareholders	$	1,405		$	1,400		$	4,163		$	4,163
Average common shares outstanding		1,798			1,832			1,809			1,844
Net effect of the exercise and assumed purchase of stock awards		9			11			10			10
Average diluted common shares outstanding		1,807			1,843			1,819			1,854
Earnings per common share	$	.78		$	.76		$	2.30		$	2.26
Diluted earnings per common share	$	.78		$	.76		$	2.29		$	2.25

(a) Represents stock issuance costs originally recorded in capital surplus upon the issuance of the Company’s Series D Non-Cumulative Perpetual Preferred Stock that were reclassified to retained earnings on the redemption date.