Business Segments (Tables)

12 Months Ended

Dec. 31, 2019

Text Block [Abstract]

Business Segments Reporting Information Details

Business segment results for the years ended December 31 were as follows:

	Corporate and Commercial Banking						Consumer and Business Banking						Wealth Management and Investment Services
Year Ended December 31 (Dollars in Millions)	2019			2018			2019			2018			2019			2018
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	2,871		$	2,936		$	6,261		$	6,156		$	1,157		$	1,131
Noninterest income		867			843			2,387			2,316			1,799			1,748
Securities gains (losses), net		–			–			–			–			–			–
Total net revenue		3,738			3,779			8,648			8,472			2,956			2,879
Noninterest expense		1,607			1,591			5,285			5,232			1,752			1,778
Other intangibles		4			4			20			27			13			16
Total noninterest expense		1,611			1,595			5,305			5,259			1,765			1,794
Income before provision and income taxes		2,127			2,184			3,343			3,213			1,191			1,085
Provision for credit losses		78			65			310			232			(3	)		(2	)
Income before income taxes		2,049			2,119			3,033			2,981			1,194			1,087
Income taxes and taxable-equivalent adjustment		513			531			759			745			299			273
Net income		1,536			1,588			2,274			2,236			895			814
Net (income) loss attributable to noncontrolling interests		–			–			–			–			–			–
Net income attributable to U.S. Bancorp	$	1,536		$	1,588		$	2,274		$	2,236		$	895		$	814
Average Balance Sheet
Loans	$	96,608		$	93,854		$	144,595		$	140,875		$	10,080		$	9,364
Other earning assets		3,751			3,072			3,989			3,501			282			184
Goodwill		1,647			1,647			3,475			3,604			1,617			1,618
Other intangible assets		8			11			2,617			2,953			49			63
Assets		106,716			102,801			158,884			155,267			13,330			12,437
Noninterest-bearing deposits		29,152			32,938			27,876			27,691			13,195			14,006
Interest-bearing deposits		72,780			69,913			129,289			124,934			62,031			56,000
Total deposits		101,932			102,851			157,165			152,625			75,226			70,006
Total U.S. Bancorp shareholders’ equity		10,399			10,463			11,713			11,812			2,525			2,476
	Payment Services						Treasury and Corporate Support						Consolidated Company
Year Ended December 31 (Dollars in Millions)	2019			2018			2019			2018			2019			2018
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	2,493		$	2,443		$	373		$	369		$	13,155		$	13,035
Noninterest income		3,707	(a)		3,599	(a)		998			1,066			9,758	(b)		9,572	(b)
Securities gains (losses), net		–			–			73			30			73			30
Total net revenue		6,200			6,042			1,444			1,465			22,986			22,637
Noninterest expense		2,940			2,859			1,033			843			12,617			12,303
Other intangibles		131			114			–			–			168			161
Total noninterest expense		3,071			2,973			1,033			843			12,785			12,464
Income before provision and income taxes		3,129			3,069			411			622			10,201			10,173
Provision for credit losses		1,108			1,081			11			3			1,504			1,379
Income before income taxes		2,021			1,988			400			619			8,697			8,794
Income taxes and taxable-equivalent adjustment		505			497			(325	)		(376	)		1,751			1,670
Net income		1,516			1,491			725			995			6,946			7,124
Net (income) loss attributable to noncontrolling interests		–			–			(32	)		(28	)		(32	)		(28	)
Net income attributable to U.S. Bancorp	$	1,516		$	1,491		$	693		$	967		$	6,914		$	7,096
Average Balance Sheet
Loans	$	33,566		$	31,102		$	5,837		$	5,506		$	290,686		$	280,701
Other earning assets		348			291			131,481			127,318			139,851			134,366
Goodwill		2,839			2,570			–			–			9,578			9,439
Other intangible assets		538			406			–			–			3,212			3,433
Assets		39,743			36,912			156,980			149,597			475,653			457,014
Noninterest-bearing deposits		1,205			1,099			2,435			2,462			73,863			78,196
Interest-bearing deposits		115			110			8,734			4,309			272,949			255,266
Total deposits		1,320			1,209			11,169			6,771			346,812			333,462
Total U.S. Bancorp shareholders’ equity		7,084			6,629			20,902			18,383			52,623			49,763

(a) Presented net of related rewards and rebate costs and certain partner payments of $2.2 billion for 2019 and 2018.

(b) Includes revenue generated from certain contracts with customers of $7.3 billion and $7.4 billion for 2019 and 2018, respectively.