Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Line of Business Financial Performance

Table 11  Line of Business Financial Performance

	Wholesale Banking and Commercial Real Estate							Consumer and Small Business Banking
Three Months Ended September 30, (Dollars in Millions)	2016		2015		Percent Change			2016		2015		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	563	$	507		11.0	%	$	1,203	$	1,150		4.6	%
Noninterest income		220		225		(2.2	)		712		629		13.2
Securities gains (losses), net		–		–		–			–		–		–
Total net revenue		783		732		7.0			1,915		1,779		7.6
Noninterest expense		348		329		5.8			1,275		1,247		2.2
Other intangibles		1		1		–			8		10		(20.0	)
Total noninterest expense		349		330		5.8			1,283		1,257		2.1
Income before provision and income taxes		434		402		8.0			632		522		21.1
Provision for credit losses		73		80		(8.8	)		45		31		45.2
Income before income taxes		361		322		12.1			587		491		19.6
Income taxes and taxable-equivalent adjustment		131		117		12.0			214		179		19.6
Net income		230		205		12.2			373		312		19.6
Net (income) loss attributable to noncontrolling interests		–		–		–			–		–		–
Net income attributable to U.S. Bancorp	$	230	$	205		12.2		$	373	$	312		19.6
Average Balance Sheet
Commercial	$	70,813	$	64,984		9.0	%	$	10,546	$	10,004		5.4	%
Commercial real estate		21,476		20,587		4.3			18,300		17,857		2.5
Residential mortgages		8		8		–			53,933		49,924		8.0
Credit card		–		–		–			–		–		–
Other retail		2		2		–			50,785		46,717		8.7
Total loans, excluding covered loans		92,299		85,581		7.8			133,564		124,502		7.3
Covered loans		–		–		–			4,107		4,839		(15.1	)
Total loans		92,299		85,581		7.8			137,671		129,341		6.4
Goodwill		1,647		1,647		–			3,681		3,681		–
Other intangible assets		16		20		(20.0	)		2,270		2,661		(14.7	)
Assets		100,871		93,681		7.7			153,496		147,273		4.2
Noninterest-bearing deposits		36,624		36,929		(.8	)		28,380		26,514		7.0
Interest checking		9,628		7,528		27.9			43,827		40,005		9.6
Savings products		44,288		28,855		53.5			57,777		54,161		6.7
Time deposits		13,490		13,827		(2.4	)		14,280		15,439		(7.5	)
Total deposits		104,030		87,139		19.4			144,264		136,119		6.0
Total U.S. Bancorp shareholders’ equity		8,997		8,497		5.9			11,312		10,629		6.4

	Wholesale Banking and Commercial Real Estate							Consumer and Small Business Banking
Nine Months Ended September 30, (Dollars in Millions)	2016		2015		Percent Change			2016		2015		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	1,638	$	1,495		9.6	%	$	3,532	$	3,410		3.6	%
Noninterest income		676		670		.9			1,900		1,877		1.2
Securities gains (losses), net		–		–		–			–		–		–
Total net revenue		2,314		2,165		6.9			5,432		5,287		2.7
Noninterest expense		1,047		986		6.2			3,704		3,616		2.4
Other intangibles		3		3		–			24		30		(20.0	)
Total noninterest expense		1,050		989		6.2			3,728		3,646		2.2
Income before provision and income taxes		1,264		1,176		7.5			1,704		1,641		3.8
Provision for credit losses		342		130		*			22		118		(81.4	)
Income before income taxes		922		1,046		(11.9	)		1,682		1,523		10.4
Income taxes and taxable-equivalent adjustment		335		381		(12.1	)		613		554		10.6
Net income		587		665		(11.7	)		1,069		969		10.3
Net (income) loss attributable to noncontrolling interests		–		–		–			–		–		–
Net income attributable to U.S. Bancorp	$	587	$	665		(11.7	)	$	1,069	$	969		10.3
Average Balance Sheet
Commercial	$	70,412	$	63,828		10.3	%	$	10,367	$	9,839		5.4	%
Commercial real estate		21,099		20,519		2.8			18,143		17,902		1.3
Residential mortgages		7		8		(12.5	)		53,127		49,678		6.9
Credit card		–		–		–			–		–		–
Other retail		2		3		(33.3	)		49,738		46,301		7.4
Total loans, excluding covered loans		91,520		84,358		8.5			131,375		123,720		6.2
Covered loans		–		–		–			4,289		5,006		(14.3	)
Total loans		91,520		84,358		8.5			135,664		128,726		5.4
Goodwill		1,647		1,647		–			3,681		3,681		–
Other intangible assets		17		21		(19.0	)		2,393		2,573		(7.0	)
Assets		99,937		92,805		7.7			150,704		146,200		3.1
Noninterest-bearing deposits		36,498		35,742		2.1			27,111		25,539		6.2
Interest checking		8,202		7,563		8.4			43,175		39,672		8.8
Savings products		40,028		27,194		47.2			57,057		53,381		6.9
Time deposits		13,000		15,467		(16.0	)		14,392		16,130		(10.8	)
Total deposits		97,728		85,966		13.7			141,735		134,722		5.2
Total U.S. Bancorp shareholders’ equity		8,927		8,261		8.1			11,138		10,944		1.8

* Not meaningful

Wealth Management and Securities Services								Payment Services									Treasury and Corporate Support									Consolidated Company
2016			2015		Percent Change			2016			2015			Percent Change			2016			2015			Percent Change			2016			2015			Percent Change
$	135		$	90		50.0	%	$	538		$	484			11.2	%	$	504		$	590			(14.6	)%	$	2,943		$	2,821			4.3	%
	403			368		9.5			912			874			4.3			188			231			(18.6	)		2,435			2,327			4.6
	–			–		–			–			–			–			10			(1	)		*			10			(1	)		*
	538			458		17.5			1,450			1,358			6.8			702			820			(14.4	)		5,388			5,147			4.7
	383			355		7.9			679			635			6.9			201			167			20.4			2,886			2,733			5.6
	6			7		(14.3	)		30			24			25.0			–			–			–			45			42			7.1
	389			362		7.5			709			659			7.6			201			167			20.4			2,931			2,775			5.6
	149			96		55.2			741			699			6.0			501			653			(23.3	)		2,457			2,372			3.6
	(1	)		1		*			208			180			15.6			–			(10	)		*			325			282			15.2
	150			95		57.9			533			519			2.7			501			663			(24.4	)		2,132			2,090			2.0
	55			35		57.1			194			189			2.6			22			67			(67.2	)		616			587			4.9
	95			60		58.3			339			330			2.7			479			596			(19.6	)		1,516			1,503			.9
	–			–		–			(8	)		(8	)		–			(6	)		(6	)		–			(14	)		(14	)		–
$	95		$	60		58.3		$	331		$	322			2.8		$	473		$	590			(19.8	)	$	1,502		$	1,489			.9
$	2,892		$	2,212		30.7	%	$	7,766		$	7,239			7.3	%	$	352		$	265			32.8	%	$	92,369		$	84,704			9.0	%
	513			570		(10.0	)		–			–			–			3,085			3,302			(6.6	)		43,374			42,316			2.5
	2,343			1,887		24.2			–			–			–			–			12			*			56,284			51,831			8.6
	–			–		–			20,628			17,944			15.0			–			–			–			20,628			17,944			15.0
	1,549			1,544		.3			515			586			(12.1	)		–			–			–			52,851			48,849			8.2
	7,297			6,213		17.4			28,909			25,769			12.2			3,437			3,579			(4.0	)		265,506			245,644			8.1
	–			1		*			–			–			–			24			52			(53.8	)		4,131			4,892			(15.6	)
	7,297			6,214		17.4			28,909			25,769			12.2			3,461			3,631			(4.7	)		269,637			250,536			7.6
	1,567			1,567		–			2,463			2,476			(.5	)		–			–			–			9,358			9,371			(.1	)
	99			123		(19.5	)		494			381			29.7			–			–			–			2,879			3,185			(9.6	)
	10,382			9,117		13.9			34,733			31,585			10.0			138,381			128,783			7.5			437,863			410,439			6.7
	13,825			14,922		(7.4	)		954			851			12.1			2,238			1,724			29.8			82,021			80,940			1.3
	9,967			8,703		14.5			–			618			*			34			34			–			63,456			56,888			11.5
	37,961			34,227		10.9			98			92			6.5			492			483			1.9			140,616			117,818			19.4
	3,777			3,775		.1			–			–			–			908			1,005			(9.7	)		32,455			34,046			(4.7	)
	65,530			61,627		6.3			1,052			1,561			(32.6	)		3,672			3,246			13.1			318,548			289,692			10.0
	2,378			2,308		3.0			6,386			5,829			9.6			18,718			17,604			6.3			47,791			44,867			6.5
Wealth Management and Securities Services								Payment Services									Treasury and Corporate Support									Consolidated Company
2016			2015		Percent Change			2016			2015			Percent Change			2016			2015			Percent Change			2016			2015			Percent Change
$	374		$	252		48.4	%	$	1,578		$	1,410			11.9	%	$	1,605		$	1,776			(9.6	)%	$	8,727		$	8,343			4.6	%
	1,183			1,100		7.5			2,651			2,501			6.0			720			605			19.0			7,130			6,753			5.6
	–			–		–			–			–			–			16			(1	)		*			16			(1	)		*
	1,557			1,352		15.2			4,229			3,911			8.1			2,341			2,380			(1.6	)		15,873			15,095			5.2
	1,110			1,056		5.1			1,991			1,892			5.2			686			444			54.5			8,538			7,994			6.8
	18			21		(14.3	)		89			74			20.3			–			–			–			134			128			4.7
	1,128			1,077		4.7			2,080			1,966			5.8			686			444			54.5			8,672			8,122			6.8
	429			275		56.0			2,149			1,945			10.5			1,655			1,936			(14.5	)		7,201			6,973			3.3
	(2	)		–		*			615			585			5.1			5			(6	)		*			982			827			18.7
	431			275		56.7			1,534			1,360			12.8			1,650			1,942			(15.0	)		6,219			6,146			1.2
	157			100		57.0			558			495			12.7			103			172			(40.1	)		1,766			1,702			3.8
	274			175		56.6			976			865			12.8			1,547			1,770			(12.6	)		4,453			4,444			.2
	–			–		–			(25	)		(24	)		(4.2	)		(18	)		(17	)		(5.9	)		(43	)		(41	)		(4.9	)
$	274		$	175		56.6		$	951		$	841			13.1		$	1,529		$	1,753			(12.8	)	$	4,410		$	4,403			.2
$	2,874		$	2,254		27.5	%	$	7,438		$	6,975			6.6	%	$	360		$	271			32.8	%	$	91,451		$	83,167			10.0	%
	521			569		(8.4	)		–			–			–			3,159			3,486			(9.4	)		42,922			42,476			1.1
	2,200			1,760		25.0			–			–			–			–			12			*			55,334			51,458			7.5
	–			–		–			20,339			17,794			14.3			–			–			–			20,339			17,794			14.3
	1,537			1,502		2.3			532			605			(12.1	)		–			–			–			51,809			48,411			7.0
	7,132			6,085		17.2			28,309			25,374			11.6			3,519			3,769			(6.6	)		261,855			243,306			7.6
	–			1		*			–			–			–			35			45			(22.2	)		4,324			5,052			(14.4	)
	7,132			6,086		17.2			28,309			25,374			11.6			3,554			3,814			(6.8	)		266,179			248,358			7.2
	1,566			1,567		(.1	)		2,467			2,477			(.4	)		–			–			–			9,361			9,372			(.1	)
	104			130		(20.0	)		503			403			24.8			–			–			–			3,017			3,127			(3.5	)
	10,249			9,143		12.1			34,245			31,364			9.2			134,286			127,245			5.5			429,421			406,757			5.6
	13,270			13,776		(3.7	)		947			875			8.2			2,102			1,691			24.3			79,928			77,623			3.0
	9,328			7,721		20.8			–			602			*			41			34			20.6			60,746			55,592			9.3
	35,515			33,785		5.1			97			90			7.8			494			481			2.7			133,191			114,931			15.9
	3,743			3,426		9.3			–			–			–			2,312			1,504			53.7			33,447			36,527			(8.4	)
	61,856			58,708		5.4			1,044			1,567			(33.4	)		4,949			3,710			33.4			307,312			284,673			8.0
	2,379			2,306		3.2			6,362			5,809			9.5			18,434			17,169			7.4			47,240			44,489			6.2