Three Months Ended
June 30

Six Months Ended
June 30

(Dollars and Shares in Millions, Except Per Share Data)

2020

2019

2020

2019

Net income attributable to U.S. Bancorp

$

689

$

1,821

$

1,860

$

3,520

Preferred dividends

(72

)

(72

)

(150

)

(151

)

Earnings allocated to participating stock awards

(3

)

(8

)

(8

)

(15

)

Net income applicable to U.S. Bancorp common shareholders

$

614

$

1,741

$

1,702

$

3,354

Average common shares outstanding

1,506

1,590

1,512

1,596

Net effect of the exercise and assumed purchase of stock awards

1

2

1

3

Average diluted common shares outstanding

1,507

1,592

1,513

1,599

Earnings per common share

$

.41

$

1.09

$

1.13

$

2.10

Diluted earnings per common share

$

.41

$

1.09

$

1.12

$

2.10