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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest Income        
Loans $ 2,463 $ 2,532 $ 4,956 $ 5,054
Loans held for sale 65 24 106 51
Investment securities 505 461 1,000 902
Other interest income 35 30 67 62
Total interest income 3,068 3,047 6,129 6,069
Interest Expense        
Deposits 113 114 231 233
Short-term borrowings 62 63 123 132
Long-term debt 177 181 361 365
Total interest expense 352 358 715 730
Net interest income 2,716 2,689 5,414 5,339
Provision for credit losses 281 324 545 630
Net interest income after provision for credit losses 2,435 2,365 4,869 4,709
Noninterest Income        
Credit and debit card revenue 266 259 507 498
Corporate payment products revenue 178 182 348 355
Merchant processing services 395 384 754 740
ATM processing services 80 82 158 160
Trust and investment management fees 334 311 656 615
Deposit service charges 174 171 335 328
Treasury management fees 142 140 279 273
Commercial products revenue 214 221 414 426
Mortgage banking revenue 231 278 471 514
Investment products fees 48 47 95 93
Securities gains (losses), net        
Realized gains (losses), net 0 3 0 8
Total other-than-temporary impairment   (2)   (2)
Portion of other-than-temporary impairment recognized in other comprehensive income   (1)   (1)
Total securities gains (losses), net       5
Other 210 369 409 545
Total noninterest income 2,272 2,444 4,426 4,552
Noninterest Expense        
Compensation 1,196 1,125 2,375 2,240
Employee benefits 293 257 610 546
Net occupancy and equipment 247 241 494 490
Professional services 106 97 183 180
Marketing and business development 96 96 166 175
Technology and communications 221 214 435 425
Postage, printing and supplies 64 80 146 161
Other intangibles 43 48 86 97
Other 416 595 852 983
Total noninterest expense 2,682 2,753 5,347 5,297
Income before income taxes 2,025 2,056 3,948 3,964
Applicable income taxes 528 547 1,007 1,043
Net income 1,497 1,509 2,941 2,921
Net (income) loss attributable to noncontrolling interests (14) (14) (27) (29)
Net income attributable to U.S. Bancorp 1,483 1,495 2,914 2,892
Net income applicable to U.S. Bancorp common shareholders $ 1,417 $ 1,427 $ 2,782 $ 2,758
Earnings per common share $ 0.80 $ 0.79 $ 1.57 $ 1.52
Diluted earnings per common share 0.80 0.78 1.56 1.51
Dividends declared per common share $ 0.255 $ 0.245 $ 0.500 $ 0.475
Average common shares outstanding 1,771 1,811 1,776 1,815
Average diluted common shares outstanding 1,779 1,821 1,784 1,825