Earnings Per Share

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Earnings Per Share

 Note 10    Earnings Per Share

The components of earnings per share were:

	Three Months Ended March 31
(Dollars and Shares in Millions, Except Per Share Data)	2023			2022
Net income attributable to U.S. Bancorp	$	1,698		$	1,557
Preferred dividends		(98	)		(84	)
Earnings allocated to participating stock awards		(8	)		(7	)
Net income applicable to U.S. Bancorp common shareholders	$	1,592		$	1,466
Average common shares outstanding		1,532			1,485
Net effect of the exercise and assumed purchase of stock awards		—			1
Average diluted common shares outstanding		1,532			1,486
Earnings per common share	$	1.04		$	.99
Diluted earnings per common share	$	1.04		$	.99

Options outstanding at March 31, 2023 to purchase 1 million common shares were not included in the computation of diluted earnings per share for the three months ended March 31, 2023 because they were antidilutive.