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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest Income        
Loans $ 3,059 $ 2,731 $ 8,757 $ 8,039
Loans held for sale 40 43 104 110
Investment securities 568 515 1,653 1,555
Other interest income 47 31 131 89
Total interest income 3,714 3,320 10,645 9,793
Interest Expense        
Deposits 293 161 730 452
Short-term borrowings 90 70 233 201
Long-term debt 196 196 585 567
Total interest expense 579 427 1,548 1,220
Net interest income 3,135 2,893 9,097 8,573
Provision for credit losses 360 325 1,055 982
Net interest income after provision for credit losses 2,775 2,568 8,042 7,591
Noninterest Income        
Credit and debit card revenue 308 299 919 861
Corporate payment products revenue 201 190 564 541
Merchant processing services 405 412 1,190 1,188
ATM processing services 92 87 267 251
Trust and investment management fees 380 362 1,128 1,059
Deposit service charges 192 192 553 539
Treasury management fees 153 147 466 436
Commercial products revenue 221 219 638 654
Mortgage banking revenue 213 314 632 739
Investment products fees 39 41 120 120
Securities gains (losses), net        
Realized gains (losses), net 9 12 47 19
Total other-than-temporary impairment   (2)   (4)
Portion of other-than-temporary impairment recognized in other comprehensive income (loss)       1
Total securities gains (losses), net 9 10 47 16
Other 209 172 646 742
Total noninterest income 2,422 2,445 7,170 7,146
Noninterest Expense        
Compensation 1,440 1,329 4,247 3,855
Employee benefits 281 280 882 858
Net occupancy and equipment 258 250 760 741
Professional services 104 127 305 346
Marketing and business development 92 102 291 328
Technology and communications 246 243 723 717
Postage, printing and supplies 82 80 244 236
Other intangibles 44 45 131 134
Other 492 475 1,423 1,457
Total noninterest expense 3,039 2,931 9,006 8,672
Income before income taxes 2,158 2,082 6,206 6,065
Applicable income taxes 589 566 1,639 1,612
Net income 1,569 1,516 4,567 4,453
Net (income) loss attributable to noncontrolling interests (6) (14) (31) (43)
Net income attributable to U.S. Bancorp 1,563 1,502 4,536 4,410
Net income applicable to U.S. Bancorp common shareholders $ 1,485 $ 1,434 $ 4,302 $ 4,198
Earnings per common share $ 0.89 $ 0.84 $ 2.56 $ 2.44
Diluted earnings per common share 0.88 0.84 2.55 2.43
Dividends declared per common share $ 0.30 $ 0.28 $ 0.86 $ 0.79
Average common shares outstanding 1,672 1,710 1,683 1,724
Average diluted common shares outstanding 1,678 1,716 1,689 1,730