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Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Interest Income      
Loans $ 13,603 $ 10,747 $ 12,018
Loans held for sale 201 232 216
Investment securities 3,378 2,365 2,428
Other interest income 763 143 178
Total interest income 17,945 13,487 14,840
Interest Expense      
Deposits 1,872 320 950
Short-term borrowings 565 70 141
Long-term debt 780 603 924
Total interest expense 3,217 993 2,015
Net interest income 14,728 12,494 12,825
Provision for credit losses 1,977 [1] (1,173) 3,806
Net interest income after provision for credit losses 12,751 13,667 9,019
Noninterest Income      
Card revenue 1,512 1,507 1,338
Corporate payment products revenue 698 575 497
Merchant processing services 1,579 1,449 1,261
Trust and investment management fees 2,209 1,832 1,736
Service charges 1,298 1,338 1,245
Commercial products revenue 1,105 1,102 1,143
Mortgage banking revenue 527 1,361 2,064
Investment products fees 235 239 192
Securities gains (losses), net 20 103 177
Other 273 721 748
Total noninterest income 9,456 10,227 10,401
Noninterest Expense      
Compensation and employee benefits 9,157 8,728 7,938
Net occupancy and equipment 1,096 1,048 1,092
Professional services 529 492 430
Marketing and business development 456 366 318
Technology and communications 1,726 1,728 1,582
Other intangibles 215 159 176
Merger and integration charges 329 0 0
Other 1,398 1,207 1,833
Total noninterest expense 14,906 13,728 13,369
Income before income taxes 7,301 10,166 6,051
Applicable income taxes 1,463 2,181 1,066
Net income (loss) 5,838 7,985 4,985
Net (income) loss attributable to noncontrolling interests (13) (22) (26)
Net income (loss) attributable to U.S. Bancorp 5,825 7,963 4,959
Net income applicable to U.S. Bancorp common shareholders $ 5,501 $ 7,605 $ 4,621
Earnings per common share $ 3.69 $ 5.11 $ 3.06
Diluted earnings per common share $ 3.69 $ 5.1 $ 3.06
Average common shares outstanding 1,489 1,489 1,509
Average diluted common shares outstanding 1,490 1,490 1,510
[1] Includes $662 million of provision for credit losses related to the acquisition of MUB.