XML 58 R44.htm IDEA: XBRL DOCUMENT v3.19.2
Basis of Presentation - Line of Business Financial Performance (Detail) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Condensed Income Statement        
Net interest income (taxable-equivalent basis) $ 3,332 $ 3,226 $ 6,618 $ 6,423
Net interest income (taxable-equivalent basis), Percent change 3.30%   3.00%  
Noninterest income [1] $ 2,473 2,404 $ 4,759 4,671
Noninterest income, Percent change 2.90%   1.90%  
Securities gains (losses), net $ 17 10 $ 22 15
Securities gains (losses), net, Percent change 70.00%   46.70%  
Total net revenue $ 5,822 5,640 $ 11,399 11,109
Total net revenue, Percent change 3.20%   2.60%  
Noninterest expense, Percent change 2.20%   1.60%  
Other intangibles, Percent change 5.00%   3.80%  
Total noninterest expense, Percent change 2.20%   1.60%  
Income before provision and income taxes, Percent change 4.50%   3.80%  
Provision for credit losses, Percent change 11.60%   11.10%  
Income before income taxes, Percent change 3.40%   2.70%  
Income taxes and taxable-equivalent adjustment, Percent change 1.30%   2.30%  
Net income, Percent change 4.00%   2.80%  
Net (income) loss attributable to noncontrolling interests, Percent change 12.50%   (6.70%)  
Net income attributable to U.S. Bancorp, Percent change 4.10%   2.80%  
Noninterest expense $ 3,111 3,045 $ 6,158 6,061
Other intangibles 42 40 82 79
Total noninterest expense 3,153 3,085 6,240 6,140
Income before provision and income taxes 2,669 2,555 5,159 4,969
Provision for credit losses 365 327 742 668
Income before income taxes 2,304 2,228 4,417 4,301
Income taxes and taxable-equivalent adjustment 476 470 881 861
Net income 1,828 1,758 3,536 3,440
Net (income) loss attributable to noncontrolling interests (7) (8) (16) (15)
Net income attributable to U.S. Bancorp 1,821 1,750 3,520 3,425
Average Balance Sheet        
Commercial $ 103,233 98,353 $ 102,600 97,912
Commercial, Percent change 5.00%   4.80%  
Commercial real estate $ 39,365 39,857 $ 39,417 40,110
Commercial real estate, Percent change (1.20%)   (1.70%)  
Residential mortgages $ 66,834 60,834 $ 66,212 60,505
Residential mortgages, Percent change 9.90%   9.40%  
Credit card $ 22,830 21,220 $ 22,714 21,252
Credit card, Percent change 7.60%   6.90%  
Other retail $ 56,956 55,463 $ 56,729 56,253
Other retail, Percent change 2.70%   0.80%  
Total loans, excluding covered loans   2,897   2,972
Total loans $ 289,218 278,624 $ 287,672 279,004
Total loans, Percent change 3.80%   3.10%  
Goodwill, Percent change 1.20%   1.20%  
Other intangible assets, Percent change (2.70%)   0.20%  
Assets, Percent change 3.80%   2.90%  
Noninterest-bearing deposits, Percent change (7.50%)   (7.50%)  
Interest checking, Percent change 0.70%   1.70%  
Savings products, Percent change 4.20%   1.10%  
Time deposits, Percent change 25.50%   23.80%  
Total deposits, Percent change 3.10%   1.70%  
Total U.S. Bancorp shareholders' equity, Percent change 6.30%   6.00%  
Goodwill $ 9,545 9,433 $ 9,549 9,436
Other intangible assets 3,309 3,401 3,383 3,375
Assets 471,598 454,489 467,521 454,389
Noninterest-bearing deposits 73,096 78,987 73,263 79,234
Interest checking 70,433 69,918 71,301 70,136
Savings products 154,621 148,402 149,662 148,080
Time deposits 47,082 37,515 46,100 37,252
Total deposits 345,232 334,822 340,326 334,702
Total U.S. Bancorp shareholders' equity 52,438 49,322 52,016 49,075
Corporate and Commercial Banking [Member]        
Condensed Income Statement        
Net interest income (taxable-equivalent basis) $ 718 726 $ 1,444 1,448
Net interest income (taxable-equivalent basis), Percent change (1.10%)   (0.30%)  
Noninterest income $ 245 223 $ 454 430
Noninterest income, Percent change 9.90%   5.60%  
Total net revenue $ 963 949 $ 1,898 1,878
Total net revenue, Percent change 1.50%   1.10%  
Noninterest expense, Percent change 1.00%   2.10%  
Total noninterest expense, Percent change 1.00%   2.10%  
Income before provision and income taxes, Percent change 1.80%   0.30%  
Provision for credit losses, Percent change 83.30%      
Income before income taxes, Percent change     1.70%  
Income taxes and taxable-equivalent adjustment, Percent change     1.50%  
Net income, Percent change     1.70%  
Net income attributable to U.S. Bancorp, Percent change     1.70%  
Noninterest expense $ 409 405 $ 818 801
Other intangibles 1 1 2 2
Total noninterest expense 410 406 820 803
Income before provision and income taxes 553 543 1,078 1,075
Provision for credit losses (2) (12) (13) 2
Income before income taxes 555 555 1,091 1,073
Income taxes and taxable-equivalent adjustment 139 139 273 269
Net income 416 416 818 804
Net income attributable to U.S. Bancorp 416 416 818 804
Average Balance Sheet        
Commercial $ 78,067 74,757 $ 77,914 74,757
Commercial, Percent change 4.40%   4.20%  
Commercial real estate $ 18,514 18,690 $ 18,579 18,908
Commercial real estate, Percent change (0.90%)   (1.70%)  
Residential mortgages $ 6 6 $ 6 6
Other retail 1 1 1 1
Total loans $ 96,588 93,454 $ 96,500 93,672
Total loans, Percent change 3.40%   3.00%  
Other intangible assets, Percent change (18.20%)   (18.20%)  
Assets, Percent change 4.10%   3.30%  
Noninterest-bearing deposits, Percent change (13.30%)   (12.90%)  
Interest checking, Percent change 10.60%   17.10%  
Savings products, Percent change (0.30%)   (3.40%)  
Time deposits, Percent change (3.00%)   3.20%  
Total deposits, Percent change (4.00%)   (3.50%)  
Total U.S. Bancorp shareholders' equity, Percent change (1.30%)   (0.50%)  
Goodwill $ 1,647 1,647 $ 1,647 1,647
Other intangible assets 9 11 9 11
Assets 106,680 102,521 105,915 102,551
Noninterest-bearing deposits 28,874 33,314 29,424 33,779
Interest checking 10,552 9,544 11,150 9,518
Savings products 42,325 42,448 41,739 43,187
Time deposits 17,813 18,370 18,003 17,451
Total deposits 99,564 103,676 100,316 103,935
Total U.S. Bancorp shareholders' equity 10,362 10,498 10,400 10,457
Consumer and Business Banking [Member]        
Condensed Income Statement        
Net interest income (taxable-equivalent basis) $ 1,581 1,519 $ 3,148 3,031
Net interest income (taxable-equivalent basis), Percent change 4.10%   3.90%  
Noninterest income $ 567 594 $ 1,102 1,171
Noninterest income, Percent change (4.50%)   (5.90%)  
Total net revenue $ 2,148 2,113 $ 4,250 4,202
Total net revenue, Percent change 1.70%   1.10%  
Noninterest expense, Percent change (0.70%)   (0.90%)  
Other intangibles, Percent change (28.60%)   (28.60%)  
Total noninterest expense, Percent change (0.80%)   (1.00%)  
Income before provision and income taxes, Percent change 5.90%   4.80%  
Provision for credit losses, Percent change 43.60%   35.50%  
Income before income taxes, Percent change 3.00%   2.50%  
Income taxes and taxable-equivalent adjustment, Percent change 3.30%   2.50%  
Net income, Percent change 2.90%   2.50%  
Net income attributable to U.S. Bancorp, Percent change 2.90%   2.50%  
Noninterest expense $ 1,318 1,327 $ 2,605 2,628
Other intangibles 5 7 10 14
Total noninterest expense 1,323 1,334 2,615 2,642
Income before provision and income taxes 825 779 1,635 1,560
Provision for credit losses 79 55 149 110
Income before income taxes 746 724 1,486 1,450
Income taxes and taxable-equivalent adjustment 187 181 372 363
Net income 559 543 1,114 1,087
Net income attributable to U.S. Bancorp 559 543 1,114 1,087
Average Balance Sheet        
Commercial $ 9,709 9,792 $ 9,581 9,722
Commercial, Percent change (0.80%)   (1.50%)  
Commercial real estate $ 16,043 16,307 $ 16,024 16,363
Commercial real estate, Percent change (1.60%)   (2.10%)  
Residential mortgages $ 63,073 57,578 $ 62,493 57,315
Residential mortgages, Percent change 9.50%   9.00%  
Other retail $ 54,889 53,330 $ 54,642 54,123
Other retail, Percent change 2.90%   1.00%  
Covered loans   2,897   2,972
Total loans $ 143,714 139,904 $ 142,740 140,495
Total loans, Percent change 2.70%   1.60%  
Goodwill, Percent change (4.30%)   (4.30%)  
Other intangible assets, Percent change (7.30%)   (3.50%)  
Assets, Percent change 1.80%   0.70%  
Noninterest-bearing deposits, Percent change (1.10%)   (1.80%)  
Interest checking, Percent change 1.70%   2.70%  
Savings products, Percent change 0.20%   0.20%  
Time deposits, Percent change 21.10%   19.40%  
Total deposits, Percent change 2.20%   2.30%  
Total U.S. Bancorp shareholders' equity, Percent change (1.00%)   (0.90%)  
Goodwill $ 3,475 3,632 $ 3,475 3,632
Other intangible assets 2,717 2,932 2,799 2,902
Assets 157,384 154,579 156,039 154,999
Noninterest-bearing deposits 27,060 27,348 26,809 27,289
Interest checking 51,372 50,512 51,238 49,904
Savings products 62,041 61,936 61,709 61,608
Time deposits 15,470 12,773 15,135 12,673
Total deposits 155,943 152,569 154,891 151,474
Total U.S. Bancorp shareholders' equity 11,737 11,855 11,739 11,845
Wealth Management and Investment Services [Member]        
Condensed Income Statement        
Net interest income (taxable-equivalent basis) $ 299 282 $ 587 557
Net interest income (taxable-equivalent basis), Percent change 6.00%   5.40%  
Noninterest income $ 445 430 $ 875 861
Noninterest income, Percent change 3.50%   1.60%  
Total net revenue $ 744 712 $ 1,462 1,418
Total net revenue, Percent change 4.50%   3.10%  
Noninterest expense, Percent change (4.00%)   (1.00%)  
Other intangibles, Percent change (25.00%)   (25.00%)  
Total noninterest expense, Percent change (4.20%)   (1.20%)  
Income before provision and income taxes, Percent change 20.00%   10.30%  
Income before income taxes, Percent change 19.20%   10.70%  
Income taxes and taxable-equivalent adjustment, Percent change 18.80%   10.50%  
Net income, Percent change 19.40%   10.80%  
Net income attributable to U.S. Bancorp, Percent change 19.40%   10.80%  
Noninterest expense $ 435 453 $ 868 877
Other intangibles 3 4 6 8
Total noninterest expense 438 457 874 885
Income before provision and income taxes 306 255 588 533
Provision for credit losses 2   (1) 1
Income before income taxes 304 255 589 532
Income taxes and taxable-equivalent adjustment 76 64 147 133
Net income 228 191 442 399
Net income attributable to U.S. Bancorp 228 191 442 399
Average Balance Sheet        
Commercial $ 3,952 3,737 $ 3,937 3,699
Commercial, Percent change 5.80%   6.40%  
Commercial real estate $ 494 522 $ 499 517
Commercial real estate, Percent change (5.40%)   (3.50%)  
Residential mortgages $ 3,755 3,245 $ 3,713 3,179
Residential mortgages, Percent change 15.70%   16.80%  
Other retail $ 1,706 1,721 $ 1,718 1,710
Other retail, Percent change (0.90%)   0.50%  
Total loans $ 9,907 9,225 $ 9,867 9,105
Total loans, Percent change 7.40%   8.40%  
Goodwill, Percent change (0.10%)   (0.10%)  
Other intangible assets, Percent change (24.20%)   (23.50%)  
Assets, Percent change 7.70%   8.70%  
Noninterest-bearing deposits, Percent change (8.00%)   (7.70%)  
Interest checking, Percent change (15.30%)   (17.80%)  
Savings products, Percent change 14.40%   6.60%  
Time deposits, Percent change (3.70%)   (0.50%)  
Total deposits, Percent change 4.70%   (0.30%)  
Total U.S. Bancorp shareholders' equity, Percent change 2.10%   2.40%  
Goodwill $ 1,617 1,619 $ 1,617 1,619
Other intangible assets 50 66 52 68
Assets 13,185 12,248 13,189 12,137
Noninterest-bearing deposits 13,609 14,792 13,458 14,584
Interest checking 8,323 9,824 8,769 10,674
Savings products 49,362 43,154 45,277 42,457
Time deposits 3,747 3,891 3,777 3,796
Total deposits 75,041 71,661 71,281 71,511
Total U.S. Bancorp shareholders' equity 2,528 2,476 2,522 2,464
Payment Services [Member]        
Condensed Income Statement        
Net interest income (taxable-equivalent basis) 592 592 $ 1,215 1,202
Net interest income (taxable-equivalent basis), Percent change     1.10%  
Noninterest income [2] $ 950 902 $ 1,801 1,750
Noninterest income, Percent change 5.30%   2.90%  
Total net revenue $ 1,542 1,494 $ 3,016 2,952
Total net revenue, Percent change 3.20%   2.20%  
Noninterest expense, Percent change 4.40%   3.50%  
Other intangibles, Percent change 17.90%   16.40%  
Total noninterest expense, Percent change 4.90%   4.00%  
Income before provision and income taxes, Percent change 1.60%   0.40%  
Provision for credit losses, Percent change 5.00%   5.10%  
Income before income taxes, Percent change (0.40%)   (2.40%)  
Income taxes and taxable-equivalent adjustment, Percent change     (2.10%)  
Net income, Percent change (0.60%)   (2.40%)  
Net income attributable to U.S. Bancorp, Percent change (0.60%)   (2.40%)  
Noninterest expense $ 736 705 $ 1,458 1,409
Other intangibles 33 28 64 55
Total noninterest expense 769 733 1,522 1,464
Income before provision and income taxes 773 761 1,494 1,488
Provision for credit losses 295 281 581 553
Income before income taxes 478 480 913 935
Income taxes and taxable-equivalent adjustment 120 120 229 234
Net income 358 360 684 701
Net income attributable to U.S. Bancorp 358 360 684 701
Average Balance Sheet        
Commercial $ 10,087 8,963 $ 9,766 8,660
Commercial, Percent change 12.50%   12.80%  
Credit card $ 22,830 21,220 $ 22,714 21,252
Credit card, Percent change 7.60%   6.90%  
Other retail $ 360 408 $ 368 416
Other retail, Percent change (11.80%)   (11.50%)  
Total loans $ 33,277 30,591 $ 32,848 30,328
Total loans, Percent change 8.80%   8.30%  
Goodwill, Percent change 10.70%   10.70%  
Other intangible assets, Percent change 36.00%   32.70%  
Assets, Percent change 8.20%   7.50%  
Noninterest-bearing deposits, Percent change 5.80%   4.20%  
Savings products, Percent change 6.60%   5.70%  
Time deposits, Percent change (33.30%)   (33.30%)  
Total deposits, Percent change 5.80%   4.20%  
Total U.S. Bancorp shareholders' equity, Percent change 6.80%   6.50%  
Goodwill $ 2,806 2,535 $ 2,810 2,538
Other intangible assets 533 392 523 394
Assets 39,519 36,535 39,070 36,348
Noninterest-bearing deposits 1,148 1,085 1,152 1,106
Savings products 113 106 111 105
Time deposits 2 3 2 3
Total deposits 1,263 1,194 1,265 1,214
Total U.S. Bancorp shareholders' equity 7,050 6,601 7,040 6,611
Treasury and Corporate Support [Member]        
Condensed Income Statement        
Net interest income (taxable-equivalent basis) $ 142 107 $ 224 185
Net interest income (taxable-equivalent basis), Percent change 32.70%   21.10%  
Noninterest income $ 266 255 $ 527 459
Noninterest income, Percent change 4.30%   14.80%  
Securities gains (losses), net $ 17 10 $ 22 15
Securities gains (losses), net, Percent change 70.00%   46.70%  
Total net revenue $ 425 372 $ 773 659
Total net revenue, Percent change 14.20%   17.30%  
Noninterest expense, Percent change 37.40%   18.20%  
Total noninterest expense, Percent change 37.40%   18.20%  
Income before provision and income taxes, Percent change (2.30%)   16.30%  
Income before income taxes, Percent change 3.30%   8.70%  
Income taxes and taxable-equivalent adjustment, Percent change (35.30%)   (1.40%)  
Net income, Percent change 7.70%   6.50%  
Net (income) loss attributable to noncontrolling interests, Percent change 12.50%   (6.70%)  
Net income attributable to U.S. Bancorp, Percent change 8.30%   6.50%  
Noninterest expense $ 213 155 $ 409 346
Total noninterest expense 213 155 409 346
Income before provision and income taxes 212 217 364 313
Provision for credit losses (9) 3 26 2
Income before income taxes 221 214 338 311
Income taxes and taxable-equivalent adjustment (46) (34) (140) (138)
Net income 267 248 478 449
Net (income) loss attributable to noncontrolling interests (7) (8) (16) (15)
Net income attributable to U.S. Bancorp 260 240 462 434
Average Balance Sheet        
Commercial $ 1,418 1,104 $ 1,402 1,074
Commercial, Percent change 28.40%   30.50%  
Commercial real estate $ 4,314 4,338 $ 4,315 4,322
Commercial real estate, Percent change (0.60%)   (0.20%)  
Residential mortgages   5   5
Other retail   3   3
Total loans $ 5,732 5,450 $ 5,717 5,404
Total loans, Percent change 5.20%   5.80%  
Assets, Percent change 4.20%   3.30%  
Noninterest-bearing deposits, Percent change (1.80%)   (2.30%)  
Savings products, Percent change 2.90%   14.20%  
Total deposits, Percent change     91.40%  
Total U.S. Bancorp shareholders' equity, Percent change 16.00%   14.80%  
Assets $ 154,830 148,606 $ 153,308 148,354
Noninterest-bearing deposits 2,405 2,448 2,420 2,476
Interest checking 186 38 144 40
Savings products 780 758 826 723
Time deposits 10,050 2,478 9,183 3,329
Total deposits 13,421 5,722 12,573 6,568
Total U.S. Bancorp shareholders' equity $ 20,761 $ 17,892 $ 20,315 $ 17,698
[1] Includes revenue generated from certain contracts with customers of $1.9 billion for both the three months ended June 30, 2019 and 2018, and $3.6 billion and $3.7 billion for the six months ended June 30, 2019 and 2018, respectively.
[2] Presented net of related rewards and rebate costs and certain partner payments of $566 million and $533 million for the three months ended June 30, 2019 and 2018, respectively, and $1.1 billion for both the six months ended June 30, 2019 and 2018.