Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

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:

	2015								2014
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 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		20,000		500		13		487
Series I		30,000		750		5		745		–		–		–		–
Total preferred stock(a)		189,910	$	5,686	$	185	$	5,501		159,910	$	4,936	$	180	$	4,756

(a) The par value of all shares issued and outstanding at December 31, 2015 and 2014, 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
2015		52	$	2,246
2014		54		2,262
2013		65		2,336

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
2015
Balance at beginning of period	$	392		$	52		$	(172	)	$	(1,106	)	$	(62	)	$	(896	)
Changes in unrealized gains and losses		(457	)		–			(25	)		(142	)		–			(624	)
Foreign currency translation adjustment(a)		–			–			–			–			20			20
Reclassification to earnings of realized gains and losses		–			(25	)		195			223			–			393
Applicable income taxes		176			9			(65	)		(31	)		(1	)		88
Balance at end of period	$	111		$	36		$	(67	)	$	(1,056	)	$	(43	)	$	(1,019	)
2014
Balance at beginning of period	$	(77	)	$	70		$	(261	)	$	(743	)	$	(60	)	$	(1,071	)
Changes in unrealized gains and losses		764			–			(41	)		(733	)		–			(10	)
Other-than-temporary impairment not recognized in earnings on securities available-for-sale		1			–			–			–			–			1
Foreign currency translation adjustment(a)		–			–			–			–			(4	)		(4	)
Reclassification to earnings of realized gains and losses		(3	)		(30	)		186			144			–			297
Applicable income taxes		(293	)		12			(56	)		226			2			(109	)
Balance at end of period	$	392		$	52		$	(172	)	$	(1,106	)	$	(62	)	$	(896	)
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(a)		–			–			–			–			(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	)

(a) Represents the impact of changes in foreign currency exchange rates on the Company’s investment in foreign operations and related hedges.

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 (loss) and into earnings for the years ended December 31, is as follows:

	Impact to Net Income									Affected Line Item in the Consolidated Statement of Income
(Dollars in Millions)	2015			2014			2013
Unrealized gains (losses) on securities available-for-sale
Realized gains (losses) on sale of securities	$	1		$	11		$	23		Total securities gains (losses), net
Other-than-temporary impairment recognized in earnings		(1	)		(8	)		(14	)
		–			3			9		Total before tax
		–			(1	)		(4	)	Applicable income taxes
		–			2			5		Net-of-tax
Unrealized gains (losses) on securities transferred from available-for-sale to held-to-maturity
Amortization of unrealized gains		25			30			59		Interest income
		(9	)		(12	)		(22	)	Applicable income taxes
		16			18			37		Net-of-tax
Unrealized gains (losses) on derivative hedges
Realized gains (losses) on derivative hedges		(195	)		(186	)		(192	)	Net interest income
		75			71			74		Applicable income taxes
		(120	)		(115	)		(118	)	Net-of-tax
Unrealized gains (losses) on retirement plans
Actuarial gains (losses), prior service cost (credit) and transition obligation (asset) amortization		(223	)		(144	)		(249	)	Employee benefits expense
		85			56			96		Applicable income taxes
		(138	)		(88	)		(153	)	Net-of-tax
Total impact to net income	$	(242	)	$	(183	)	$	(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)	2015			2014
Basel III transitional standardized approach:
Common shareholders’ equity	$	40,630		$	38,723
Less intangible assets
Goodwill (net of deferred tax liability)		(8,295	)		(8,403	)
Other disallowed intangible assets		(335	)		(165	)
Other(a)		612			701
Total common equity tier 1 capital		32,612			30,856
Qualifying preferred stock		5,501			4,756
Noncontrolling interests eligible for tier 1 capital		318			408
Total tier 1 capital		38,431			36,020
Eligible portion of allowance for credit losses		4,255			3,957
Subordinated debt and noncontrolling interests eligible for tier 2 capital		2,616			3,215
Other		11			16
Total tier 2 capital		6,882			7,188
Total risk-based capital	$	45,313		$	43,208
Risk-weighted assets	$	341,360		$	317,398
Basel III transitional advanced approaches:
Common shareholders’ equity	$	40,630		$	38,723
Less intangible assets
Goodwill (net of deferred tax liability)		(8,295	)		(8,403	)
Other disallowed intangible assets		(335	)		(165	)
Other(a)		612			701
Total common equity tier 1 capital		32,612			30,856
Qualifying preferred stock		5,501			4,756
Noncontrolling interests eligible for tier 1 capital		318			408
Total tier 1 capital		38,431			36,020
Eligible portion of allowance for credit losses		1,204			1,224
Subordinated debt and noncontrolling interests eligible for tier 2 capital		2,616			3,215
Other		11			16
Total tier 2 capital		3,831			4,455
Total risk-based capital	$	42,262		$	40,475
Risk-weighted assets	$	261,668		$	248,596

(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

  TABLE 23   REGULATORY CAPITAL RATIOS

	U.S. Bancorp						U.S. Bank National Association
At December 31 (Dollars in Millions)	2015			2014			2015			2014
Basel III transitional standardized approach:
Common equity tier 1 capital	$	32,612		$	30,856		$	33,831		$	32,381
Tier 1 capital		38,431			36,020			34,148			32,789
Total risk-based capital		45,313			43,208			41,112			40,008
Risk-weighted assets		341,360			317,398			336,938			313,261
Common equity tier 1 capital as a percent of risk-weighted assets		9.6	%		9.7	%		10.0	%		10.3	%
Tier 1 capital as a percent of risk-weighted assets		11.3			11.3			10.1			10.5
Total risk-based capital as a percent of risk-weighted assets		13.3			13.6			12.2			12.8
Tier 1 capital as a percent of adjusted quarterly average assets (leverage ratio)		9.5			9.3			8.5			8.6
Basel III transitional advanced approaches:
Common equity tier 1 capital	$	32,612		$	30,856		$	33,831		$	32,381
Tier 1 capital		38,431			36,020			34,148			32,789
Total risk-based capital		42,262			40,475			38,090			37,299
Risk-weighted assets		261,668			248,596			258,207			245,007
Common equity tier 1 capital as a percent of risk-weighted assets		12.5	%		12.4	%		13.1	%		13.2	%
Tier 1 capital as a percent of risk-weighted assets		14.7			14.5			13.2			13.4
Total risk-based capital as a percent of risk-weighted assets		16.2			16.3			14.8			15.2

Bank Regulatory Capital Requirements

	Minimum			Well- Capitalized
2015
Common equity tier 1 capital as a percent of risk-weighted assets		4.5	%		6.5	%
Tier 1 capital as a percent of risk-weighted assets		6.0			8.0
Total risk-based capital as a percent of risk-weighted assets		8.0			10.0
Tier 1 capital as a percent of adjusted quarterly average assets (leverage ratio)		4.0			5.0
2014
Common equity tier 1 capital as a percent of risk-weighted assets		4.0	%		*
Tier 1 capital as a percent of risk-weighted assets		5.5			6.0	%
Total risk-based capital as a percent of risk-weighted assets		8.0			10.0
Tier 1 capital as a percent of adjusted quarterly average assets (leverage ratio)		4.0			5.0

* Not applicable.