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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating Activities    
Net income attributable to U.S. Bancorp $ 3,059 $ 3,088
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 1,248 423
Depreciation and amortization of premises and equipment 193 170
Amortization of intangibles 319 87
(Gain) loss on sale of loans held for sale 18 192
(Gain) loss on sale of securities and other assets 24 (67)
Loans originated for sale, net of repayments (14,639) (17,325)
Proceeds from sales of loans held for sale 14,244 20,564
Other, net (308) 3,594
Net cash provided by operating activities 4,158 10,726
Investing Activities    
Proceeds from sales of available-for-sale investment securities 8,135 14,797
Proceeds from maturities of held-to-maturity investment securities 2,995 2,407
Proceeds from maturities of available-for-sale investment securities 3,048 9,665
Purchases of held-to-maturity investment securities (924) (6,288)
Purchases of available-for-sale investment securities (2,790) (18,240)
Net increase in loans outstanding (613) (20,072)
Proceeds from sales of loans 5,105 1,671
Purchases of loans (608) (1,698)
Net increase in securities purchased under agreements to resell (1,443) (154)
Other, net (1,416) (1,604)
Net cash provided by (used in) investing activities 11,489 (19,516)
Financing Activities    
Net (decrease) increase in deposits (3,002) 11,019
Net increase in short-term borrowings 551 13,167
Proceeds from issuance of long-term debt 7,230 2,206
Principal payments or redemption of long-term debt (1,644) (5,154)
Proceeds from issuance of preferred stock 0 437
Proceeds from issuance of common stock 6 16
Repurchase of preferred stock 0 (1,100)
Repurchase of common stock (44) (55)
Cash dividends paid on preferred stock (165) (154)
Cash dividends paid on common stock (1,479) (1,373)
Net cash provided by financing activities 1,453 19,009
Change in cash and due from banks 17,100 10,219
Cash and due from banks at beginning of period 53,542 28,905
Cash and due from banks at end of period $ 70,642 $ 39,124