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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest Income        
Loans $ 2,901 $ 2,664 $ 5,698 $ 5,308
Loans held for sale 29 36 64 67
Investment securities 555 523 1,085 1,040
Other interest income 46 29 84 58
Total interest income 3,531 3,252 6,931 6,473
Interest Expense        
Deposits 238 152 437 291
Short-term borrowings 77 66 143 131
Long-term debt 199 189 389 371
Total interest expense 514 407 969 793
Net interest income 3,017 2,845 5,962 5,680
Provision for credit losses 350 327 695 657
Net interest income after provision for credit losses 2,667 2,518 5,267 5,023
Noninterest Income        
Credit and debit card revenue 319 296 611 562
Corporate payment products revenue 184 181 363 351
Merchant processing services 407 403 785 776
ATM processing services 90 84 175 164
Trust and investment management fees 380 358 748 697
Deposit service charges 184 179 361 347
Treasury management fees 160 147 313 289
Commercial products revenue 210 238 417 435
Mortgage banking revenue 212 238 419 425
Investment products fees 41 39 81 79
Securities gains (losses), net        
Realized gains (losses), net 9 4 38 7
Total other-than-temporary impairment       (2)
Portion of other-than-temporary impairment recognized in other comprehensive income (loss)   (1)   1
Total securities gains (losses), net 9 3 38 6
Other 223 386 437 570
Total noninterest income 2,419 2,552 4,748 4,701
Noninterest Expense        
Compensation 1,416 1,277 2,807 2,526
Employee benefits 287 278 601 578
Net occupancy and equipment 255 243 502 491
Professional services 105 121 201 219
Marketing and business development 109 149 199 226
Technology and communications 242 241 477 474
Postage, printing and supplies 81 77 162 156
Other intangibles 43 44 87 89
Other 485 562 931 982
Total noninterest expense 3,023 2,992 5,967 5,741
Income before income taxes 2,063 2,078 4,048 3,983
Applicable income taxes 551 542 1,050 1,046
Net income 1,512 1,536 2,998 2,937
Net (income) loss attributable to noncontrolling interests (12) (14) (25) (29)
Net income attributable to U.S. Bancorp 1,500 1,522 2,973 2,908
Net income applicable to U.S. Bancorp common shareholders $ 1,430 $ 1,435 $ 2,817 $ 2,764
Earnings per common share $ 0.85 $ 0.83 $ 1.67 $ 1.60
Diluted earnings per common share 0.85 0.83 1.66 1.59
Dividends declared per common share $ 0.280 $ 0.255 $ 0.560 $ 0.510
Average common shares outstanding 1,684 1,725 1,689 1,731
Average diluted common shares outstanding 1,690 1,731 1,695 1,737