Business Segments (Tables)

12 Months Ended

Dec. 31, 2021

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
(Dollars in Millions)	2021			2020			2021			2020			2021			2020
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	2,900		$	3,411		$	6,077		$	5,759		$	1,002		$	1,246
Noninterest income		1,035			1,117			2,501			3,177			2,221			2,022
Total net revenue		3,935			4,528			8,578			8,936			3,223			3,268
Noninterest expense		1,678			1,711			5,690			5,470			2,045			1,961
Other intangibles		–			–			12			16			14			12
Total noninterest expense		1,678			1,711			5,702			5,486			2,059			1,973
Income (loss) before provision and income taxes		2,257			2,817			2,876			3,450			1,164			1,295
Provision for credit losses		89			604			(144	)		291			47			40
Income (loss) before income taxes		2,168			2,213			3,020			3,159			1,117			1,255
Income taxes and taxable-equivalent adjustment		542			554			755			791			280			314
Net income (loss)		1,626			1,659			2,265			2,368			837			941
Net (income) loss attributable to noncontrolling interests		–			–			–			–			–			–
Net income (loss) attributable to U.S. Bancorp	$	1,626		$	1,659		$	2,265		$	2,368		$	837		$	941
Average Balance Sheet
Loans	$	103,208		$	115,563		$	141,082		$	141,259		$	18,097		$	15,456
Other earning assets		4,537			4,163			8,093			7,175			242			287
Goodwill		1,715			1,647			3,428			3,500			1,628			1,617
Other intangible assets		5			6			2,760			2,105			84			39
Assets		115,194			128,038			161,571			159,191			21,236			18,564
Noninterest-bearing deposits		61,272			44,309			33,855			30,467			24,587			17,149
Interest-bearing deposits		71,246			88,138			158,434			131,536			75,618			77,525
Total deposits		132,518			132,447			192,289			162,003			100,205			94,674
Total U.S. Bancorp shareholders’ equity		13,928			15,063			12,337			12,739			3,154			2,936
	Payment Services						Treasury and Corporate Support						Consolidated Company
(Dollars in Millions)	2021			2020			2021			2020			2021			2020
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	2,458		$	2,562		$	163		$	(54	)	$	12,600		$	12,924
Noninterest income		3,550	(a)		3,124	(a)		920			961			10,227	(b)		10,401	(b)
Total net revenue		6,008			5,686			1,083			907			22,827			23,325
Noninterest expense		3,231			3,123			925			928			13,569			13,193
Other intangibles		133			148			–			–			159			176
Total noninterest expense		3,364			3,271			925			928			13,728			13,369
Income (loss) before provision and income taxes		2,644			2,415			158			(21	)		9,099			9,956
Provision for credit losses		349			681			(1,514	)		2,190			(1,173	)		3,806
Income (loss) before income taxes		2,295			1,734			1,672			(2,211	)		10,272			6,150
Income taxes and taxable-equivalent adjustment		575			434			135			(928	)		2,287			1,165
Net income (loss)		1,720			1,300			1,537			(1,283	)		7,985			4,985
Net (income) loss attributable to noncontrolling interests		–			–			(22	)		(26	)		(22	)		(26	)
Net income (loss) attributable to U.S. Bancorp	$	1,720		$	1,300		$	1,515		$	(1,309	)	$	7,963		$	4,959
Average Balance Sheet
Loans	$	30,856		$	31,539		$	3,722		$	3,452		$	296,965		$	307,269
Other earning assets		93			5			196,211			162,503			209,176			174,133
Goodwill		3,185			3,060			–			–			9,956			9,824
Other intangible assets		508			581			–			–			3,357			2,731
Assets		36,553			36,497			221,978			188,917			556,532			531,207
Noninterest-bearing deposits		4,861			4,351			2,629			2,263			127,204			98,539
Interest-bearing deposits		145			121			1,634			2,756			307,077			300,076
Total deposits		5,006			4,472			4,263			5,019			434,281			398,615
Total U.S. Bancorp shareholders’ equity		7,643			7,462			16,748			14,046			53,810			52,246

(a) Presented net of related rewards and rebate costs and certain partner payments of $2.5 billion and $2.1 billion for 2021 and 2020, respectively.

(b)  Includes revenue generated from certain contracts with customers of $7.5 billion and $6.9 billion for 2021 and 2020, respectively.