Table 11

Line of Business Financial Performance


	Corporate and Commercial Banking								Consumer and Business Banking
Three Months Ended March 31 (Dollars in Millions)	2018		2017			Percent Change			2018		2017		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	724	$	712			1.7	%	$	1,524	$	1,418		7.5	%
Noninterest income		207		247			(16.2	)		568		571		(.5	)
Securities gains (losses), net		–		(3	)		*			–		–		–
Total net revenue		931		956			(2.6	)		2,092		1,989		5.2
Noninterest expense		404		394			2.5			1,291		1,253		3.0
Other intangibles		1		1			–			7		7		–
Total noninterest expense		405		395			2.5			1,298		1,260		3.0
Income before provision and income taxes		526		561			(6.2	)		794		729		8.9
Provision for credit losses		14		36			(61.1	)		56		65		(13.8	)
Income before income taxes		512		525			(2.5	)		738		664		11.1
Income taxes and taxable-equivalent adjustment		128		191			(33.0	)		185		242		(23.6	)
Net income		384		334			15.0			553		422		31.0
Net (income) loss attributable to noncontrolling interests		–		–			–			–		–		–
Net income attributable to U.S. Bancorp	$	384	$	334			15.0		$	553	$	422		31.0
Average Balance Sheet
Commercial	$	74,808	$	72,414			3.3	%	$	9,838	$	9,913		(.8	)%
Commercial real estate		19,137		21,305			(10.2	)		18,217		18,551		(1.8	)
Residential mortgages		6		8			(25.0	)		57,066		55,239		3.3
Credit card		–		–			–			–		–		–
Other retail		–		–			–			55,010		51,687		6.4
Total loans, excluding covered loans		93,951		93,727			.2			140,131		135,390		3.5
Covered loans		–		–			–			3,048		3,717		(18.0	)
Total loans		93,951		93,727			.2			143,179		139,107		2.9
Goodwill		1,647		1,647			–			3,681		3,681		–
Other intangible assets		12		15			(20.0	)		2,871		2,768		3.7
Assets		102,642		102,309			.3			157,544		153,647		2.5
Noninterest-bearing deposits		34,388		36,939			(6.9	)		27,381		26,965		1.5
Interest checking		9,493		9,256			2.6			49,400		46,298		6.7
Savings products		43,938		48,820			(10.0	)		61,543		59,850		2.8
Time deposits		16,523		12,484			32.4			12,576		13,207		(4.8	)
Total deposits		104,342		107,499			(2.9	)		150,900		146,320		3.1
Total U.S. Bancorp shareholders’ equity		10,417		9,680			7.6			12,219		11,522		6.0

*	Not meaningful

(a)

Presented net of related rewards and rebate costs and certain partner payments of $534 million and $468 million for the three months ended March 31, 2018 and 2017, respectively.

(b)

Includes revenue generated from contracts with customers of $1.8 billion and $1.7 billion for the three months ended March 31, 2018 and 2017, respectively.


Wealth Management and Investment Services							Payment Services									Treasury and Corporate Support									Consolidated Company
2018		2017		Percent Change			2018			2017			Percent Change			2018			2017			Percent Change			2018			2017			Percent Change

	$ 284	$	250		13.6	%	$	612		$	595			2.9	%	$	53		$	55			(3.6	)%	$	3,197		$	3,030			5.5	%
	432		399		8.3			847	(a)		798	(a)		6.1			213			215			(.9	)		2,267	(b)		2,230	(b)		1.7
	–		–		–			–			–			–			5			32			(84.4	)		5			29			(82.8	)
	716		649		10.3			1,459			1,393			4.7			271			302			(10.3	)		5,469			5,289			3.4
	421		398		5.8			702			646			8.7			198			174			13.8			3,016			2,865			5.3
	4		5		(20.0	)		27			31			(12.9	)		–			–			–			39			44			(11.4	)
	425		403		5.5			729			677			7.7			198			174			13.8			3,055			2,909			5.0
	291		246		18.3			730			716			2.0			73			128			(43.0	)		2,414			2,380			1.4
	1		1		–			272			241			12.9			(2	)		2			*			341			345			(1.2	)
	290		245		18.4			458			475			(3.6	)		75			126			(40.5	)		2,073			2,035			1.9
	73		89		(18.0	)		115			173			(33.5	)		(110	)		(146	)		24.7			391			549			(28.8	)
	217		156		39.1			343			302			13.6			185			272			(32.0	)		1,682			1,486			13.2
	–		–		–			–			(7	)		*			(7	)		(6	)		(16.7	)		(7	)		(13	)		46.2
	$ 217	$	156		39.1		$	343		$	295			16.3		$	178		$	266			(33.1	)	$	1,675		$	1,473			13.7

	$ 3,660	$	3,190		14.7	%	$	8,354		$	7,611			9.8	%	$	805		$	611			31.8	%	$	97,465		$	93,739			4.0	%
	509		514		(1.0	)		–			–			–			2,503			2,788			(10.2	)		40,366			43,158			(6.5	)
	3,096		2,645		17.1			–			–			–			6			8			(25.0	)		60,174			57,900			3.9
	–		–		–			21,284			20,845			2.1			–			–			–			21,284			20,845			2.1
	1,617		1,617		–			424			480			(11.7	)		–			–			–			57,051			53,784			6.1
	8,882		7,966		11.5			30,062			28,936			3.9			3,314			3,407			(2.7	)		276,340			269,426			2.6
	–		–		–			–			–			–			–			15			*			3,048			3,732			(18.3	)
	8,882		7,966		11.5			30,062			28,936			3.9			3,314			3,422			(3.2	)		279,388			273,158			2.3
	1,570		1,566		.3			2,542			2,453			3.6			–			–			–			9,440			9,347			1.0
	70		87		(19.5	)		396			437			(9.4	)		–			–			–			3,349			3,307			1.3
	11,875		11,446		3.7			36,173			34,566			4.6			146,054			139,343			4.8			454,288			441,311			2.9
	14,329		13,841		3.5			1,127			1,024			10.1			2,257			1,969			14.6			79,482			80,738			(1.6	)
	11,423		10,087		13.2			–			–			–			42			40			5.0			70,358			65,681			7.1
	41,662		42,145		(1.1	)		103			99			4.0			509			454			12.1			147,755			151,368			(2.4	)
	3,695		4,755		(22.3	)		3			1			*			4,188			199			*			36,985			30,646			20.7
	71,109		70,828		.4			1,233			1,124			9.7			6,996			2,662			*			334,580			328,433			1.9
	2,399		2,403		(.2	)		6,622			6,405			3.4			17,168			17,913			(4.2	)		48,825			47,923			1.9