Earnings Per Share

3 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Earnings Per Share

 Note 9    Earnings Per Share

The components of earnings per share were:

	Three Months Ended March 31
(Dollars and Shares in Millions, Except Per Share Data)	2020			2019
Net income attributable to U.S. Bancorp	$	1,171		$	1,699
Preferred dividends		(78	)		(79	)
Earnings allocated to participating stock awards		(5	)		(7	)
Net income applicable to U.S. Bancorp common shareholders	$	1,088		$	1,613
Average common shares outstanding		1,518			1,602
Net effect of the exercise and assumed purchase of stock awards		1			3
Average diluted common shares outstanding		1,519			1,605
Earnings per common share	$	.72		$	1.01
Diluted earnings per common share	$	.72		$	1.00

Options outstanding at March 31, 2020 and 2019, to purchase 1 million common shares, were not included in the computation of diluted earnings per share for the three months ended March 31, 2020 and 2019, because they were antidilutive.