Earnings Per Share

3 Months Ended

Mar. 31, 2019


Note 10		Earnings Per Share

The components of earnings per share were:


	Three Months Ended March 31
(Dollars and Shares in Millions, Except Per Share Data)	2019			2018
Net income attributable to U.S. Bancorp	$	1,699		$	1,675
Preferred dividends		(79	)		(70	)
Earnings allocated to participating stock awards		(7	)		(8	)
Net income applicable to U.S. Bancorp common shareholders	$	1,613		$	1,597
Average common shares outstanding		1,602			1,652
Net effect of the exercise and assumed purchase of stock awards		3			5
Average diluted common shares outstanding		1,605			1,657
Earnings per common share	$	1.01		$	.97
Diluted earnings per common share	$	1.00		$	.96

Options outstanding at March 31, 2019 and 2018, to purchase 1 million common shares, were not included in the computation of diluted earnings per share for the three months ended March 31, 2019 and 2018, because they were antidilutive.