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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest Income        
Loans $ 3,197 $ 2,889 $ 6,292 $ 5,679
Loans held for sale 39 29 72 64
Investment securities 653 555 1,266 1,085
Other interest income 59 46 109 84
Total interest income 3,948 3,519 7,739 6,912
Interest Expense        
Deposits 427 238 772 437
Short-term borrowings 86 33 161 57
Long-term debt 238 199 441 389
Total interest expense 751 470 1,374 883
Net interest income 3,197 3,049 6,365 6,029
Provision for credit losses 327 350 668 695
Net interest income after provision for credit losses 2,870 2,699 5,697 5,334
Noninterest Income        
Credit and debit card revenue 351 330 675 629
Corporate payment products revenue 158 140 312 277
Merchant processing services 387 381 750 735
ATM processing services 90 75 169 146
Trust and investment management fees 401 380 799 748
Deposit service charges 183 179 365 351
Treasury management fees 155 160 305 313
Commercial products revenue 234 243 454 490
Mortgage banking revenue 191 212 375 419
Investment products fees 47 44 93 86
Realized securities gains (losses), net 10 9 15 38
Other 207 195 374 375
Total noninterest income 2,414 2,348 4,686 4,607
Noninterest Expense        
Compensation 1,542 1,416 3,065 2,807
Employee benefits 299 274 629 575
Net occupancy and equipment 262 255 527 502
Professional services 95 105 178 201
Marketing and business development 111 109 208 199
Technology and communications 242 223 477 440
Postage, printing and supplies 80 81 160 162
Other intangibles 40 43 79 87
Other 414 478 817 920
Total noninterest expense 3,085 2,984 6,140 5,893
Income before income taxes 2,199 2,063 4,243 4,048
Applicable income taxes 441 551 803 1,050
Net income 1,758 1,512 3,440 2,998
Net (income) loss attributable to noncontrolling interests (8) (12) (15) (25)
Net income attributable to U.S. Bancorp 1,750 1,500 3,425 2,973
Net income applicable to U.S. Bancorp common shareholders $ 1,678 $ 1,430 $ 3,275 $ 2,817
Earnings per common share $ 1.02 $ 0.85 $ 1.99 $ 1.67
Diluted earnings per common share 1.02 0.85 1.98 1.66
Dividends declared per common share $ 0.30 $ 0.28 $ 0.60 $ 0.56
Average common shares outstanding 1,642 1,684 1,647 1,689
Average diluted common shares outstanding 1,646 1,690 1,651 1,695