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Earnings Per Share (Tables)
 12 Months Ended
Dec. 31, 2016
Earnings Per Share [Abstract]  
Components of Earnings Per Share

The components of earnings per share were:

 

Year Ended December 31

(Dollars and Shares in Millions, Except Per Share Data)

      2016        2015        2014  

Net income attributable to U.S. Bancorp

      $ 5,888         $ 5,879         $ 5,851   

Preferred dividends

        (281 )         (247 )         (243 ) 

Impact of the purchase of noncontrolling interests(a)

        9           –           –   

Earnings allocated to participating stock awards

        (27 )         (24 )         (25 ) 
    

 

 

  

Net income applicable to U.S. Bancorp common shareholders

      $ 5,589         $ 5,608         $ 5,583   
    

 

 

  

Average common shares outstanding

        1,718           1,764           1,803   

Net effect of the exercise and assumed purchase of stock awards

        6           8           10   
    

 

 

  

Average diluted common shares outstanding

        1,724           1,772           1,813   
    

 

 

  

Earnings per common share

      $ 3.25         $ 3.18         $ 3.10   

Diluted earnings per common share

      $ 3.24         $ 3.16         $ 3.08   
(a) Represents the difference between the carrying amount and amount paid by the Company to purchase third party investor holdings of the preferred stock of USB Realty Corp, a consolidated subsidiary of the Company.