Business Segments (Tables)

12 Months Ended

Dec. 31, 2022

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)	2022			2021				2022			2021			2022			2021
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	3,468		$	2,853			$	6,904		$	6,085		$	1,624		$	1,002
Noninterest income		1,008			1,039				1,556			2,496			2,553			2,222
Total net revenue		4,476			3,892				8,460			8,581			4,177			3,224
Nointerest expense		1,872			1,741				5,824			5,575			2,417			2,094
Income (loss) before provision and income taxes		2,604			2,151				2,636			3,006			1,760			1,130
Provision for credit losses		149			65				228			(136	)		9			7
Income (loss) before income taxes		2,455			2,086				2,408			3,142			1,751			1,123
Income taxes and taxable-equivalent adjustment		614			522				602			785			438			281
Net income (loss)		1,841			1,564				1,806			2,357			1,313			842
Net (income) loss attributable to noncontrolling interests		–			–				–			–			–			–
Net income (loss) attributable to U.S. Bancorp	$	1,841		$	1,564			$	1,806		$	2,357		$	1,313		$	842

Average Balance Sheet
Loans	$	127,916		$	103,404			$	145,079		$	140,890		$	22,410		$	18,095
Other earning assets		4,532			4,537				3,117			8,093			273			242
Goodwill		1,915			1,715				3,249			3,429			1,720			1,628
Other intangible assets		57			5				3,785			2,761			308			84
Assets		143,370			115,423				160,713			161,385			26,036			21,303
Noninterest-bearing deposits		57,451			61,991				32,256			33,063			24,721			24,663
Interest-bearing deposits		97,169			71,711				167,938			157,592			73,461			76,000
Total deposits		154,620			133,702				200,194			190,655			98,182			100,663
Total U.S. Bancorp shareholders’ equity		14,403			13,906				12,550			12,319			3,675			3,154

	Payment Services							Treasury and Corporate Support						Consolidated Company
(Dollars in Millions)	2022			2021				2022			2021			2022			2021
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	2,498		$	2,457			$	352		$	203		$	14,846		$	12,600
Noninterest income		3,799	(a)		3,550	(a)			540			920			9,456	(b)		10,227	(b)
Total net revenue		6,297			6,007				892			1,123			24,302			22,827
Noninterest expense		3,551			3,386				1,242			932			14,906			13,728
Income (loss) before provision and income taxes		2,746			2,621				(350	)		191			9,396			9,099
Provision for credit losses		980			349				611			(1,458	)		1,977			(1,173	)
Income (loss) before income taxes		1,766			2,272				(961	)		1,649			7,419			10,272
Income taxes and taxable-equivalent adjustment		442			568				(515	)		131			1,581			2,287
Net income (loss)		1,324			1,704				(446	)		1,518			5,838			7,985
Net (income) loss attributable to noncontrolling interests		–			–				(13	)		(22	)		(13	)		(22	)
Net income (loss) attributable to U.S. Bancorp	$	1,324		$	1,704			$	(459	)	$	1,496		$	5,825		$	7,963

Average Balance Sheet
Loans	$	34,627		$	30,856			$	3,541		$	3,720		$	333,573		$	296,965
Other earning assets		634			93				203,214			196,211			211,770			209,176
Goodwill		3,305			3,184				–			–			10,189			9,956
Other intangible assets		423			507				4			–			4,577			3,357
Assets		41,109			36,549				220,921			221,872			592,149			556,532
Noninterest-bearing deposits		3,410			4,861				2,556			2,626			120,394			127,204
Interest-bearing deposits		162			145				3,260			1,629			341,990			307,077
Total deposits		3,572			5,006				5,816			4,255			462,384			434,281
Total U.S. Bancorp shareholders’ equity		8,235			7,642				11,553			16,789			50,416			53,810

(a)	Presented net of related rewards and rebate costs and certain partner payments of $2.9 billion and $2.5 billion for 2022 and 2021, respectively.

(b)	Includes revenue generated from certain contracts with customers of $8.0 billion and $ 7.5 billion for 2022 and 2021, respectively.