Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2016

Equity [Abstract]

Regulatory Capital Ratios

 TABLE 23   _{Regulatory Capital Ratios}

	U.S. Bancorp						U.S. Bank National Association
At December 31 (Dollars in Millions)	2016			2015			2016			2015
Basel III transitional standardized approach:
Common equity tier 1 capital	$	33,720		$	32,612		$	36,914		$	33,831
Tier 1 capital		39,421			38,431			37,114			34,148
Total risk-based capital		47,355			45,313			44,853			41,112
Risk-weighted assets		358,237			341,360			352,023			336,938
Common equity tier 1 capital as a percent of risk-weighted assets		9.4	%		9.6	%		10.5	%		10.0	%
Tier 1 capital as a percent of risk-weighted assets		11.0			11.3			10.5			10.1
Total risk-based capital as a percent of risk-weighted assets		13.2			13.3			12.7			12.2
Tier 1 capital as a percent of adjusted quarterly average assets (leverage ratio)		9.0			9.5			8.6			8.5
Basel III transitional advanced approaches:
Common equity tier 1 capital	$	33,720		$	32,612		$	36,914		$	33,831
Tier 1 capital		39,421			38,431			37,114			34,148
Total risk-based capital		44,264			42,262			41,737			38,090
Risk-weighted assets		277,141			261,668			271,920			258,207
Common equity tier 1 capital as a percent of risk-weighted assets		12.2	%		12.5	%		13.6	%		13.1	%
Tier 1 capital as a percent of risk-weighted assets		14.2			14.7			13.6			13.2
Total risk-based capital as a percent of risk-weighted assets		16.0			16.2			15.3			14.8

Bank Regulatory Capital Requirements

	Minimum			Well- Capitalized
2016
Common equity tier 1 capital as a percent of risk-weighted assets		5.125	%		6.500	%
Tier 1 capital as a percent of risk-weighted assets		6.625			8.000
Total risk-based capital as a percent of risk-weighted assets		8.625			10.000
Tier 1 capital as a percent of adjusted quarterly average assets (leverage ratio)		4.000			5.000
2015
Common equity tier 1 capital as a percent of risk-weighted assets		4.500	%		6.500	%
Tier 1 capital as a percent of risk-weighted assets		6.000			8.000
Total risk-based capital as a percent of risk-weighted assets		8.000			10.000
Tier 1 capital as a percent of adjusted quarterly average assets (leverage ratio)		4.000			5.000

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:

	2016								2015
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		30,000		750		5		745
Total preferred stock(a)		189,910	$	5,686	$	185	$	5,501		189,910	$	5,686	$	185	$	5,501

(a) The par value of all shares issued and outstanding at December 31, 2016 and 2015, 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
2016		61	$	2,600
2015		52		2,246
2014		54		2,262

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
2016
Balance at beginning of period	$	111		$	36		$	(67	)	$	(1,056	)	$	(43	)	$	(1,019	)
Changes in unrealized gains and losses		(858	)		–			74			(255	)		–			(1,039	)
Other-than-temporary impairment not recognized in earnings on securities available-for-sale		(1	)		–			–			–			–			(1	)
Foreign currency translation adjustment(a)		–			–			–			–			(28	)		(28	)
Reclassification to earnings of realized gains and losses		(22	)		(18	)		124			163			–			247
Applicable income taxes		339			7			(76	)		35			–			305
Balance at end of period	$	(431	)	$	25		$	55		$	(1,113	)	$	(71	)	$	(1,535	)
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	)

(a) Represents the impact of changes in foreign currency exchange rates on the Company’s net 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)	2016			2015			2014
Unrealized gains (losses) on securities available-for-sale
Realized gains (losses) on sale of securities	$	27		$	1		$	11		Total securities gains (losses), net
Other-than-temporary impairment recognized in earnings		(5	)		(1	)		(8	)
		22			–			3		Total before tax
		(9	)		–			(1	)	Applicable income taxes
		13			–			2		Net-of-tax
Unrealized gains (losses) on securities transferred from available-for-sale to held-to-maturity
Amortization of unrealized gains		18			25			30		Interest income
		(7	)		(9	)		(12	)	Applicable income taxes
		11			16			18		Net-of-tax
Unrealized gains (losses) on derivative hedges
Realized gains (losses) on derivative hedges		(124	)		(195	)		(186	)	Net interest income
		48			75			71		Applicable income taxes
		(76	)		(120	)		(115	)	Net-of-tax
Unrealized gains (losses) on retirement plans
Actuarial gains (losses), prior service cost (credit) and transition obligation (asset) amortization		(163	)		(223	)		(144	)	Employee benefits expense
		63			85			56		Applicable income taxes
		(100	)		(138	)		(88	)	Net-of-tax
Total impact to net income	$	(152	)	$	(242	)	$	(183	)

Components of Company's Regulatory Capital

The following table provides the components of the Company’s regulatory capital at December 31:

(Dollars in Millions)	2016			2015
Basel III transitional standardized approach:
Common shareholders’ equity	$	41,797		$	40,630
Less intangible assets
Goodwill (net of deferred tax liability)		(8,203	)		(8,295	)
Other disallowed intangible assets		(427	)		(335	)
Other(a)		553			612
Total common equity tier 1 capital		33,720			32,612
Qualifying preferred stock		5,501			5,501
Noncontrolling interests eligible for tier 1 capital		203			318
Other		(3	)		–
Total tier 1 capital		39,421			38,431
Eligible portion of allowance for credit losses		4,357			4,255
Subordinated debt and noncontrolling interests eligible for tier 2 capital		3,576			2,616
Other		1			11
Total tier 2 capital		7,934			6,882
Total risk-based capital	$	47,355		$	45,313
Risk-weighted assets	$	358,237		$	341,360
Basel III transitional advanced approaches:
Common shareholders’ equity	$	41,797		$	40,630
Less intangible assets
Goodwill (net of deferred tax liability)		(8,203	)		(8,295	)
Other disallowed intangible assets		(427	)		(335	)
Other(a)		553			612
Total common equity tier 1 capital		33,720			32,612
Qualifying preferred stock		5,501			5,501
Noncontrolling interests eligible for tier 1 capital		203			318
Other		(3	)		–
Total tier 1 capital		39,421			38,431
Eligible portion of allowance for credit losses		1,266			1,204
Subordinated debt and noncontrolling interests eligible for tier 2 capital		3,576			2,616
Other		1			11
Total tier 2 capital		4,843			3,831
Total risk-based capital	$	44,264		$	42,262
Risk-weighted assets	$	277,141		$	261,668

(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.