XML 15 R2.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Balance Sheet - USD ($)
$ in Millions
Sep. 30, 2023
Dec. 31, 2022
Assets    
Cash and due from banks $ 64,354 $ 53,542
Held-to-maturity (fair value $70,359 and $77,874, respectively) 85,342 [1] 88,740
Available-for-sale ($292 and $858 pledged as collateral, respectively) [3] 67,207 [1],[2] 72,910
Loans held for sale (including $2,263 and $1,849 of mortgage loans carried at fair value, respectively) 2,336 2,200
Loans    
Total loans 375,234 388,213
Less allowance for loan losses (7,218) (6,936)
Net loans 368,016 381,277
Premises and equipment 3,616 3,858
Goodwill 12,472 12,373
Other intangible assets 6,435 7,155
Other assets (including $2,585 and $702 of trading securities at fair value pledged as collateral, respectively) [3] 58,261 52,750
Total assets 668,039 674,805
Deposits    
Noninterest-bearing 98,006 137,743
Interest-bearing (including $444 of time deposits carried at fair value at September 30, 2023) 420,352 387,233
Total deposits 518,358 524,976
Short-term borrowings 21,900 31,216
Long-term debt 43,074 39,829
Other liabilities 31,129 27,552
Total liabilities 614,461 623,573
Shareholders' equity    
Preferred stock [4] 6,808 6,808
Common stock, par value $0.01 a share—authorized: 4,000,000,000 shares; issued: 9/30/23 and 12/31/22—2,125,725,742 shares 21 21
Capital surplus 8,684 8,712
Retained earnings 74,023 71,901
Less cost of common stock in treasury: 9/30/23—568,744,300 shares; 12/31/22—594,747,484 shares (24,168) (25,269)
Accumulated other comprehensive income (loss) (12,255) (11,407)
Total U.S. Bancorp shareholders' equity 53,113 50,766
Noncontrolling interests 465 466
Total equity 53,578 51,232
Total liabilities and equity 668,039 674,805
Commercial [Member]    
Loans    
Total loans 133,319 135,690
Commercial real estate [Member]    
Loans    
Total loans 54,131 55,487
Residential mortgages [Member]    
Loans    
Total loans [5],[6] 115,055 115,845
Credit card [Member]    
Loans    
Total loans [7] 27,080 26,295
Other retail [Member]    
Loans    
Total loans $ 45,649 $ 54,896
[1] The weighted-average maturity of total held-to-maturity investment securities was 9.2 years at December 31, 2022, with a corresponding weighted-average yield of 2.18 percent. The weighted-average maturity of total available-for-sale investment securities was 7.4 years at December 31, 2022, with a corresponding weighted-average yield of 2.94 percent.
[2] Amortized cost excludes portfolio level basis adjustments of $(95) million.
[3] Includes only collateral pledged by the Company where counterparties have the right to sell or pledge the collateral.
[4] The par value of all shares issued and outstanding at September 30, 2023 and December 31, 2022, was $1.00 per share.
[5] At September 30, 2023, $2.0 billion of GNMA loans 90 days or more past due and $963 million of modified GNMA loans whose repayments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs were classified with a pass rating, compared with $2.2 billion and $1.0 billion at December 31, 2022, respectively.
[6] At September 30, 2023, $558 million of loans 30–89 days past due and $2.0 billion of loans 90 days or more past due purchased and that could be purchased from Government National Mortgage Association (“GNMA”) mortgage pools under delinquent loan repurchase options whose repayments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs, were classified as current, compared with $647 million and $2.2 billion at December 31, 2022, respectively.
[7] Predominately all credit card loans are considered revolving loans. Includes an immaterial amount of revolving converted to term loans.