TABLE 25

Line of Business Financial Performance


	Corporate and Commercial Banking								Consumer and Business Banking
Year Ended December 31 (Dollars in Millions)	2018		2017			Percent Change			2018		2017		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	2,938	$	2,905			1.1	%	$	6,164	$	5,832		5.7	%
Noninterest income		844		915			(7.8	)		2,302		2,386		(3.5	)
Securities gains (losses), net		–		(3	)		*			–		–		–
Total net revenue		3,782		3,817			(.9	)		8,466		8,218		3.0
Noninterest expense		1,578		1,552			1.7			5,217		5,056		3.2
Other intangibles		4		4			–			27		30		(10.0	)
Total noninterest expense		1,582		1,556			1.7			5,244		5,086		3.1
Income before provision and income taxes		2,200		2,261			(2.7	)		3,222		3,132		2.9
Provision for credit losses		65		(14	)		*			232		337		(31.2	)
Income before income taxes		2,135		2,275			(6.2	)		2,990		2,795		7.0
Income taxes and taxable-equivalent adjustment		534		828			(35.5	)		748		1,018		(26.5	)
Net income		1,601		1,447			10.6			2,242		1,777		26.2
Net (income) loss attributable to noncontrolling interests		–		–			–			–		–		–
Net income attributable to U.S. Bancorp	$	1,601	$	1,447			10.6		$	2,242	$	1,777		26.2
Average Balance Sheet
Commercial	$	75,010	$	73,483			2.1	%	$	9,855	$	9,980		(1.3	)%
Commercial real estate		18,869		20,452			(7.7	)		16,272		16,702		(2.6	)
Residential mortgages		6		6			–			58,549		55,939		4.7
Credit card		–		–			–			–		–		–
Other retail		1		–			*			53,990		53,199		1.5
Total loans, excluding covered loans		93,886		93,941			(.1	)		138,666		135,820		2.1
Covered loans		–		–			–			2,169		3,445		(37.0	)
Total loans		93,886		93,941			(.1	)		140,835		139,265		1.1
Goodwill		1,647		1,647			–			3,605		3,632		(.7	)
Other intangible assets		11		13			(15.4	)		2,953		2,740		7.8
Assets		102,834		102,528			.3			155,290		153,815		1.0
Noninterest-bearing deposits		33,074		36,030			(8.2	)		27,526		27,680		(.6	)
Interest checking		10,046		9,950			1.0			50,135		47,231		6.1
Savings products		41,889		45,764			(8.5	)		61,484		60,496		1.6
Time deposits		17,966		16,136			11.3			13,321		12,894		3.3
Total deposits		102,975		107,880			(4.5	)		152,466		148,301		2.8
Total U.S. Bancorp shareholders’ equity		10,465		9,870			6.0			11,816		11,133		6.1

*	Not meaningful

(a)

Presented net of related rewards and rebate costs and certain partner payments of $2.2 billion and $2.0 billion for 2018 and 2017, respectively.

(b)

Includes revenue generated from certain contracts with customers of $7.4 billion and $7.1 billion for 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

$	1,122		$	1,007			11.4	%	$	2,445		$	2,403			1.7	%	$	366		$	438			(16.4	)%	$	13,035		$	12,585			3.6	%
	1,748			1,643			6.4			3,601	^(a)		3,368	^(a)		6.9			1,077			948			13.6			9,572	^(b)		9,260	^(b)		3.4
	–			–			–			–			–			–			30			60			(50.0	)		30			57			(47.4	)
	2,870			2,650			8.3			6,046			5,771			4.8			1,473			1,446			1.9			22,637			21,902			3.4
	1,780			1,617			10.1			2,875			2,662			8.0			853			1,728			(50.6	)		12,303			12,615			(2.5	)
	16			20			(20.0	)		114			121			(5.8	)		–			–			–			161			175			(8.0	)
	1,796			1,637			9.7			2,989			2,783			7.4			853			1,728			(50.6	)		12,464			12,790			(2.5	)
	1,074			1,013			6.0			3,057			2,988			2.3			620			(282	)		*			10,173			9,112			11.6
	(2	)		(1	)		*			1,081			1,082			(.1	)		3			(14	)		*			1,379			1,390			(.8	)
	1,076			1,014			6.1			1,976			1,906			3.7			617			(268	)		*			8,794			7,722			13.9
	270			368			(26.6	)		495			693			(28.6	)		(377	)		(1,438	)		73.8			1,670			1,469			13.7
	806			646			24.8			1,481			1,213			22.1			994			1,170			(15.0	)		7,124			6,253			13.9
	–			–			–			–			(13	)		*			(28	)		(22	)		(27.3	)		(28	)		(35	)		20.0
$	806		$	646			24.8		$	1,481		$	1,200			23.4		$	966		$	1,148			(15.9	)	$	7,096		$	6,218			14.1

$	3,779		$	3,436			10.0	%	$	9,026		$	8,082			11.7	%	$	1,184		$	923			28.3	%	$	98,854		$	95,904			3.1	%
	520			511			1.8			–			–			–			4,316			4,412			(2.2	)		39,977			42,077			(5.0	)
	3,333			2,831			17.7			–			–			–			5			8			(37.5	)		61,893			58,784			5.3
	–			–			–			21,672			20,906			3.7			–			–			–			21,672			20,906			3.7
	1,740			1,755			(.9	)		404			459			(12.0	)		1			3			(66.7	)		56,136			55,416			1.3
	9,372			8,533			9.8			31,102			29,447			5.6			5,506			5,346			3.0			278,532			273,087			2.0
	–			–			–			–			–			–			–			5			*			2,169			3,450			(37.1	)
	9,372			8,533			9.8			31,102			29,447			5.6			5,506			5,351			2.9			280,701			276,537			1.5
	1,618			1,617			.1			2,569			2,465			4.2			–			–			–			9,439			9,361			.8
	63			81			(22.2	)		406			400			1.5			–			–			–			3,433			3,234			6.2
	12,445			11,750			5.9			36,916			35,009			5.4			149,529			145,480			2.8			457,014			448,582			1.9
	14,011			14,846			(5.6	)		1,099			1,037			6.0			2,486			2,340			6.2			78,196			81,933			(4.6	)
	9,929			10,729			(7.5	)		–			–			–			44			43			2.3			70,154			67,953			3.2
	42,223			42,978			(1.8	)		107			102			4.9			742			529			40.3			146,445			149,869			(2.3	)
	3,858			4,008			(3.7	)		3			2			50.0			3,519			719			*			38,667			33,759			14.5
	70,021			72,561			(3.5	)		1,209			1,141			6.0			6,791			3,631			87.0			333,462			333,514			–
	2,475			2,421			2.2			6,629			6,275			5.6			19,006			19,398			(2.0	)		50,391			49,097			2.6