Shareholder' Equity (Tables)

12 Months Ended

Dec. 31, 2018

Federal Home Loan Banks [Abstract]

Number of Shares Issued and Outstanding and Carrying Amount of Preferred Stock

The number of shares issued and outstanding and the carrying amount of each outstanding series of the Company’s preferred stock were as follows:

	2018								2017
At December 31 (Dollars in Millions)	Shares Issued and Outstanding		Liquidation Preference		Discount		Carrying Amount		Shares Issued and Outstanding		Liquidation Preference		Discount		Carrying Amount
Series A		12,510	$	1,251	$	145	$	1,106		12,510	$	1,251	$	145	$	1,106
Series B		40,000		1,000		–		1,000		40,000		1,000		–		1,000
Series F		44,000		1,100		12		1,088		44,000		1,100		12		1,088
Series H		20,000		500		13		487		20,000		500		13		487
Series I		30,000		750		5		745		30,000		750		5		745
Series J		40,000		1,000		7		993		40,000		1,000		7		993
Series K		23,000		575		10		565		–		–		–		–
Total preferred stock(a)		209,510	$	6,176	$	192	$	5,984		186,510	$	5,601	$	182	$	5,419

(a) The par value of all shares issued and outstanding at December 31, 2018 and 2017, was $1.00 per share.

Common Stock Repurchased

The following table summarizes the Company’s common stock repurchased in each of the last three years:

(Dollars and Shares in Millions)	Shares		Value
2018		54	$	2,844
2017		49		2,622
2016		61		2,600

Reconciliation of Transactions Affecting Accumulated Other Comprehensive Income (Loss) Included in Shareholders' Equity

Shareholders’ equity is affected by transactions and valuations of asset and liability positions that require adjustments to accumulated other comprehensive income (loss). The reconciliation of the transactions affecting accumulated other comprehensive income (loss) included in shareholders’ equity for the years ended December 31, is as follows:

(Dollars in Millions)	Unrealized Gains (Losses) on Investment Securities Available-For-Sale			Unrealized Gains (Losses) on Investment Securities Transferred From Available-For-Sale to Held-To-Maturity			Unrealized Gains (Losses) on Derivative Hedges			Unrealized Gains (Losses) on Retirement Plans			Foreign Currency Translation			Total
2018
Balance at beginning of period	$	(357	)	$	17		$	71		$	(1,066	)	$	(69	)	$	(1,404	)
Revaluation of tax related balances(a)		(77	)		4			15			(229	)		(13	)		(300	)
Changes in unrealized gains and losses		(656	)		–			39			(302	)		–			(919	)
Foreign currency translation adjustment(b)		–			–			–			–			3			3
Reclassification to earnings of realized gains and losses		(30	)		(9	)		(5	)		137			–			93
Applicable income taxes		174			2			(8	)		42			(5	)		205
Balance at end of period	$	(946	)	$	14		$	112		$	(1,418	)	$	(84	)	$	(2,322	)
2017
Balance at beginning of period	$	(431	)	$	25		$	55		$	(1,113	)	$	(71	)	$	(1,535	)
Changes in unrealized gains and losses		178			–			(5	)		(41	)		–			132
Foreign currency translation adjustment(b)		–			–			–			–			(2	)		(2	)
Reclassification to earnings of realized gains and losses		(57	)		(13	)		30			117			–			77
Applicable income taxes		(47	)		5			(9	)		(29	)		4			(76	)
Balance at end of period	$	(357	)	$	17		$	71		$	(1,066	)	$	(69	)	$	(1,404	)
2016
Balance at beginning of period	$	111		$	36		$	(67	)	$	(1,056	)	$	(43	)	$	(1,019	)
Changes in unrealized gains and losses		(858	)		–			74			(255	)		–			(1,039	)
Other-than-temporary impairment not recognized in earnings on securities available-for-sale		(1	)		–			–			–			–			(1	)
Foreign currency translation adjustment(b)		–			–			–			–			(28	)		(28	)
Reclassification to earnings of realized gains and losses		(22	)		(18	)		124			163			–			247
Applicable income taxes		339			7			(76	)		35			–			305
Balance at end of period	$	(431	)	$	25		$	55		$	(1,113	)	$	(71	)	$	(1,535	)

(a) Reflects the adoption of new accounting guidance on January 1, 2018 to reclassify the impact of the reduced federal statutory rate for corporations included in 2017 tax reform legislation from accumulated other comprehensive income to retained earnings.

(b) Represents the impact of changes in foreign currency exchange rates on the Company’s investment in foreign operations and related hedges.

Impact to Net Income for Items Reclassified out of Accumulated Other Comprehensive Income and into Earnings

Additional detail about the impact to net income for items reclassified out of accumulated other comprehensive income (loss) and into earnings for the years ended December 31, is as follows:

	Impact to Net Income									Affected Line Item in the Consolidated Statement of Income
(Dollars in Millions)	2018			2017			2016
Unrealized gains (losses) on investment securities available-for-sale
Realized gains (losses) on sale of investment securities	$	30		$	57		$	27		Total securities gains (losses), net
Other-than-temporary impairment recognized in earnings		–			–			(5	)
		30			57			22		Total before tax
		(7	)		(22	)		(9	)	Applicable income taxes
		23			35			13		Net-of-tax
Unrealized gains (losses) on investment securities transferred from available-for-sale to held-to-maturity
Amortization of unrealized gains		9			13			18		Interest income
		(2	)		(5	)		(7	)	Applicable income taxes
		7			8			11		Net-of-tax
Unrealized gains (losses) on derivative hedges
Realized gains (losses) on derivative hedges		5			(30	)		(124	)	Interest expense
		(2	)		11			48		Applicable income taxes
		3			(19	)		(76	)	Net-of-tax
Unrealized gains (losses) on retirement plans
Actuarial gains (losses) and prior service cost (credit) amortization		(137	)		(117	)		(163	)	Other noninterest expense
		35			45			63		Applicable income taxes
		(102	)		(72	)		(100	)	Net-of-tax
Total impact to net income	$	(69	)	$	(48	)	$	(152	)

Components of Company's Regulatory Capital

The following table provides the components of the Company’s regulatory capital at December 31:

(Dollars in Millions)	2018			2017
Basel III standardized approach:
Common shareholders’ equity	$	45,045		$	43,621
Less intangible assets
Goodwill (net of deferred tax liability)		(8,549	)		(8,613	)
Other disallowed intangible assets		(601	)		(466	)
Other(a)		(1,171	)		(173	)
Total common equity tier 1 capital		34,724			34,369
Qualifying preferred stock		5,984			5,419
Noncontrolling interests eligible for tier 1 capital		36			117
Other(b)		(3	)		(99	)
Total tier 1 capital		40,741			39,806
Eligible portion of allowance for credit losses		4,441			4,417
Subordinated debt and noncontrolling interests eligible for tier 2 capital		2,996			3,280
Total tier 2 capital		7,437			7,697
Total risk-based capital	$	48,178		$	47,503
Risk-weighted assets	$	381,661		$	367,771
Basel III advanced approaches:
Common shareholders’ equity	$	45,045		$	43,621
Less intangible assets
Goodwill (net of deferred tax liability)		(8,549	)		(8,613	)
Other disallowed intangible assets		(601	)		(466	)
Other(a)		(1,171	)		(173	)
Total common equity tier 1 capital		34,724			34,369
Qualifying preferred stock		5,984			5,419
Noncontrolling interests eligible for tier 1 capital		36			117
Other(b)		(3	)		(99	)
Total tier 1 capital		40,741			39,806
Eligible portion of allowance for credit losses		1,399			1,391
Subordinated debt and noncontrolling interests eligible for tier 2 capital		2,996			3,280
Total tier 2 capital		4,395			4,671
Total risk-based capital	$	45,136		$	44,477
Risk-weighted assets	$	295,002		$	287,211

(a) Includes the impact of items included in other comprehensive income (loss), such as unrealized gains (losses) on available-for-sale securities, accumulated net gains on cash flow hedges, pension liability adjustments, etc., and the portion of deferred tax assets related to net operating loss and tax credit carryforwards not eligible for common equity tier 1 capital.

(b) Includes the remaining portion of deferred tax assets not eligible for total tier 1 capital.

Regulatory Capital Ratios

  TABLE 23   Regulatory Capital Ratios

	U.S. Bancorp						U.S. Bank National Association
At December 31 (Dollars in Millions)	2018			2017			2018			2017
Basel III standardized approach:
Common equity tier 1 capital	$	34,724		$	34,369		$	38,318		$	37,586
Tier 1 capital		40,741			39,806			38,351			37,701
Total risk-based capital		48,178			47,503			45,960			45,466
Risk-weighted assets		381,661			367,771			374,299			361,973
Common equity tier 1 capital as a percent of risk-weighted assets		9.1	%		9.3	%		10.2	%		10.4	%
Tier 1 capital as a percent of risk-weighted assets		10.7			10.8			10.2			10.4
Total risk-based capital as a percent of risk-weighted assets		12.6			12.9			12.3			12.6
Tier 1 capital as a percent of adjusted quarterly average assets (leverage ratio)		9.0			8.9			8.6			8.6
Basel III advanced approaches:
Common equity tier 1 capital	$	34,724		$	34,369		$	38,318		$	37,586
Tier 1 capital		40,741			39,806			38,351			37,701
Total risk-based capital		45,136			44,477			42,883			42,414
Risk-weighted assets		295,002			287,211			287,897			281,659
Common equity tier 1 capital as a percent of risk-weighted assets		11.8	%		12.0	%		13.3	%		13.3	%
Tier 1 capital as a percent of risk-weighted assets		13.8			13.9			13.3			13.4
Total risk-based capital as a percent of risk-weighted assets		15.3			15.5			14.9			15.1
Tier 1 capital as a percent of total on- and off-balance sheet leverage exposure (total leverage exposure ratio)		7.2						6.9

Bank Regulatory Capital Requirements

	Minimum			Well- Capitalized
2018
Common equity tier 1 capital as a percent of risk-weighted assets		6.375	%		6.500	%
Tier 1 capital as a percent of risk-weighted assets		7.875			8.000
Total risk-based capital as a percent of risk-weighted assets		9.875			10.000
Tier 1 capital as a percent of adjusted quarterly average assets (leverage ratio)		4.000			5.000
Tier 1 capital as a percent of total on- and off-balance sheet leverage exposure (total leverage exposure ratio)		3.000			3.000
2017
Common equity tier 1 capital as a percent of risk-weighted assets		5.750	%		6.500	%
Tier 1 capital as a percent of risk-weighted assets		7.250			8.000
Total risk-based capital as a percent of risk-weighted assets		9.250			10.000
Tier 1 capital as a percent of adjusted quarterly average assets (leverage ratio)		4.000			5.000