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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest Income        
Loans $ 2,664 $ 2,463 $ 5,308 $ 4,956
Loans held for sale 36 65 67 106
Investment securities 523 505 1,040 1,000
Other interest income 29 35 58 67
Total interest income 3,252 3,068 6,473 6,129
Interest Expense        
Deposits 152 113 291 231
Short-term borrowings 66 62 131 123
Long-term debt 189 177 371 361
Total interest expense 407 352 793 715
Net interest income 2,845 2,716 5,680 5,414
Provision for credit losses 327 281 657 545
Net interest income after provision for credit losses 2,518 2,435 5,023 4,869
Noninterest Income        
Credit and debit card revenue 296 266 562 507
Corporate payment products revenue 181 178 351 348
Merchant processing services 403 395 776 754
ATM processing services 84 80 164 158
Trust and investment management fees 358 334 697 656
Deposit service charges 179 174 347 335
Treasury management fees 147 142 289 279
Commercial products revenue 238 214 435 414
Mortgage banking revenue 238 231 425 471
Investment products fees 39 48 79 95
Securities gains (losses), net        
Realized gains (losses), net 4   7  
Total other-than-temporary impairment     (2)  
Portion of other-than-temporary impairment recognized in other comprehensive income (1)   1  
Total securities gains (losses), net 3   6  
Other 386 210 570 409
Total noninterest income 2,552 2,272 4,701 4,426
Noninterest Expense        
Compensation 1,277 1,196 2,526 2,375
Employee benefits 278 293 578 610
Net occupancy and equipment 243 247 491 494
Professional services 121 106 219 183
Marketing and business development 149 96 226 166
Technology and communications 241 221 474 435
Postage, printing and supplies 77 64 156 146
Other intangibles 44 43 89 86
Other 562 416 982 852
Total noninterest expense 2,992 2,682 5,741 5,347
Income before income taxes 2,078 2,025 3,983 3,948
Applicable income taxes 542 528 1,046 1,007
Net income 1,536 1,497 2,937 2,941
Net (income) loss attributable to noncontrolling interests (14) (14) (29) (27)
Net income attributable to U.S. Bancorp 1,522 1,483 2,908 2,914
Net income applicable to U.S. Bancorp common shareholders $ 1,435 $ 1,417 $ 2,764 $ 2,782
Earnings per common share $ 0.83 $ 0.80 $ 1.60 $ 1.57
Diluted earnings per common share 0.83 0.80 1.59 1.56
Dividends declared per common share $ 0.255 $ 0.255 $ 0.510 $ 0.500
Average common shares outstanding 1,725 1,771 1,731 1,776
Average diluted common shares outstanding 1,731 1,779 1,737 1,784