Three Months
Ended June 30

Six Months Ended
June 30

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

2023

2022

2023

2022

Net income attributable to U.S. Bancorp

$

1,361

$

1,531

$

3,059

$

3,088

Preferred dividends

(73

)

(59

)

(171

)

(143

)

Earnings allocated to participating stock awards

(7

)

(8

)

(15

)

(15

)

Net income applicable to U.S. Bancorp common shareholders

$

1,281

$

1,464

$

2,873

$

2,930

Average common shares outstanding

1,533

1,486

1,532

1,485

Net effect of the exercise and assumed purchase of stock awards

—

1

Average diluted common shares outstanding

1,533

1,487

1,533

1,486

Earnings per common share

$

.84

$

.99

$

1.87

$

1.97

Diluted earnings per common share

$

.84

$

.99

$

1.87

$

1.97