US BANCORP \DE\ USB Income Statement

Us bancorp \de\ (USB)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Dec'09	Sep'09	Jun'09	Mar'09	Sep'08	Jun'08
Interest Income
Loans
3,311	3,422	3,555	3,582	3,540	3,475	3,353	3,197	3,095	3,060	3,049	2,889	2,790	2,738	2,731	2,664	2,644	2,583	2,520	2,463	2,493	2,541	2,518	2,532	2,522	2,595	2,568	2,552	2,562	2,639	2,650	2,631	2,638	2,634	2,621	2,563	2,552	2,565	2,560	2,515	2,505	2,496	2,373	2,345	2,350	2,487	2,429
Loans held for sale
44	55	48	34	25	57	36	39	33	40	40	29	35	44	43	36	31	40	60	65	41	41	36	24	27	31	46	54	72	74	76	67	65	61	42	34	63	84	71	47	44	56	87	71	63	52	49
Investment securities
692	709	734	745	705	689	661	653	613	579	568	555	530	523	515	523	517	499	502	505	495	488	476	461	441	409	420	392	410	416	438	470	468	463	470	459	428	397	400	394	410	396	374	402	434	478	494
Other interest income
69	69	100	90	81	90	73	59	50	51	47	46	38	36	31	29	29	34	35	35	32	32	27	30	32	33	34	40	67	67	63	60	61	62	67	63	57	47	46	39	34	26	23	22	20	40	43
Total interest income
4,116	4,255	4,437	4,451	4,351	4,311	4,123	3,948	3,791	3,730	3,704	3,519	3,393	3,341	3,320	3,252	3,221	3,156	3,117	3,068	3,061	3,102	3,057	3,047	3,022	3,068	3,068	3,038	3,111	3,196	3,227	3,228	3,232	3,220	3,200	3,119	3,100	3,093	3,077	2,995	2,993	2,974	2,857	2,840	2,867	3,057	3,015
Interest Expense
Deposits
525	654	744	762	695	606	491	427	345	311	293	238	199	170	161	152	139	113	113	113	118	117	115	114	119	128	134	144	155	161	172	177	181	194	202	210	234	232	231	229	236	265	299	314	324	425	458
Short-term borrowings
71	79	97	91	93	113	104	86	75	45	39	33	24	-109	70	66	65	56	66	62	61	59	72	63	69	83	98	87	85	89	103	127	123	124	143	131	133	134	149	137	128	127	138	131	143	276	263
Long-term debt
297	315	315	293	304	289	277	238	203	199	196	199	190	187	196	189	182	168	170	177	184	182	178	181	184	180	178	191	218	219	226	266	294	285	289	290	281	281	273	272	277	272	313	341	353	423	419
Total interest expense
893	1,048	1,156	1,146	1,092	1,008	872	751	623	555	528	470	413	248	427	407	386	337	349	352	363	358	365	358	372	391	410	422	458	469	501	570	598	603	634	631	648	647	653	638	641	664	750	786	820	1,124	1,140
Net interest income
3,223	3,207	3,281	3,305	3,259	3,303	3,251	3,197	3,168	3,175	3,176	3,049	2,980	3,093	2,893	2,845	2,835	2,819	2,768	2,716	2,698	2,744	2,692	2,689	2,650	2,677	2,658	2,616	2,653	2,727	2,726	2,658	2,634	2,617	2,566	2,488	2,452	2,446	2,424	2,357	2,352	2,310	2,107	2,054	2,047	1,933	1,875
Provision for credit losses
993	395	367	365	377	368	343	327	341	335	360	350	345	342	325	327	330	305	282	281	264	288	311	324	306	277	298	362	403	443	488	470	481	497	519	572	755	912	995	1,139	1,310	1,388	1,456	1,395	1,318	748	596
Net interest income after provision for credit losses
2,230	2,812	2,914	2,940	2,882	2,935	2,908	2,870	2,827	2,840	2,816	2,699	2,635	2,751	2,568	2,518	2,505	2,514	2,486	2,435	2,434	2,456	2,381	2,365	2,344	2,400	2,360	2,254	2,250	2,284	2,238	2,188	2,153	2,120	2,047	1,916	1,697	1,534	1,429	1,218	1,042	922	651	659	729	1,185	1,279
Noninterest Income
Credit and debit card revenue
304	378	366	365	304	382	344	351	324	342	318	330	299	345	299	296	266	294	269	266	241	272	251	259	239	263	244	244	214	242	213	235	202	231	289	286	267	293	274	266	258	273	267	259	256	269	266
Corporate payment products revenue
145	158	177	167	162	163	169	158	154	148	150	140	137	0	190	181	170	170	190	178	170	174	195	182	173	166	192	176	172	178	201	190	175	171	203	185	175	173	191	178	168	166	181	168	154	179	174
Merchant processing services
337	409	410	404	378	389	392	387	363	374	377	381	354	310	412	403	373	393	400	395	359	384	387	384	356	367	371	373	347	354	345	359	337	378	338	338	301	323	318	320	292	312	300	278	258	300	309
ATM processing services
-	-	-	-	-	-	-	-	-	-	77	75	71	26	87	84	80	79	81	80	78	80	81	82	78	79	83	83	82	83	87	89	87	111	115	114	112	105	105	108	105	101	103	104	102	94	93
Trust and investment management fees
427	438	421	415	399	409	411	401	398	394	380	380	368	368	362	358	339	336	329	334	322	322	315	311	304	297	280	284	278	276	265	262	252	245	241	258	256	282	267	267	264	277	293	304	294	329	350
Deposit service charges
209	231	234	227	217	253	283	273	261	497	187	179	172	167	192	179	168	182	185	174	161	180	185	171	157	177	180	160	153	170	174	156	153	171	183	162	143	144	160	199	207	238	256	250	226	286	278
Treasury management fees
143	140	139	153	146	143	146	155	150	152	153	160	153	147	147	147	142	139	143	142	137	136	136	140	133	130	134	140	134	130	135	142	134	133	137	144	137	134	139	145	137	132	141	142	137	128	137
Commercial products revenue
246	226	240	249	219	225	216	234	220	224	240	243	247	317	219	238	197	222	231	214	200	219	209	221	205	243	207	209	200	226	225	216	211	220	212	218	191	208	197	205	161	185	157	144	129	132	117
Mortgage banking revenue
395	244	272	189	169	171	174	191	184	202	213	212	207	240	314	238	187	211	224	231	240	235	260	278	236	231	328	396	401	476	519	490	452	303	245	239	199	250	310	243	200	218	276	308	233	61	81
Investment products fees
49	48	46	47	45	48	47	47	46	45	42	44	42	49	41	39	40	44	46	48	47	49	49	47	46	45	46	46	41	39	38	38	35	31	31	35	32	29	27	30	25	27	27	27	28	37	37
Realized gains (losses), net
-	-	-	-	-	-	-	-	-	-	-	-	-	8	12	4	3	-	-	-	-	-	-	3	-	2	0	9	12	13	16	21	9	2	0	1	1	-8	9	0	12	21	1	69	56	0	14
Total other-than-temporary impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	2	2	0	2	-	1	-	-	-	3	2	-	1	2	2	1	1	13	39	9	19	11	19	11	186	28	30	-87	1,860	-148	-331	-381	-411	-77
Portion of other-than-temporary impairment recognized in other comprehensive income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	1	-2	-	-	-	-	-	-	1	-	0	1	1	6	-	2	1	-	-12	2	-10	-5	126	-10	-9	-41	-215	-71	-243	127	0	0
Securities gains (losses), net
50	26	25	17	5	5	10	10	5	10	9	9	29	6	10	3	3	-	-1	-	-	1	-3	0	5	1	-3	6	5	-	1	-19	-	-9	-9	-8	-5	-14	-9	-21	-34	-158	-76	-19	-198	-411	-63
Other
220	138	284	257	247	310	226	207	167	205	194	195	180	169	172	386	184	269	229	210	199	318	177	369	176	157	115	159	138	152	193	197	201	446	186	175	204	295	131	170	135	245	168	90	169	8	113
Total noninterest income
2,525	2,436	2,614	2,490	2,291	2,498	2,418	2,414	2,272	2,370	2,340	2,348	2,259	2,144	2,445	2,552	2,149	2,340	2,326	2,272	2,154	2,370	2,242	2,444	2,108	2,156	2,177	2,276	2,165	2,329	2,396	2,355	2,239	2,431	2,171	2,146	2,012	2,222	2,110	2,110	1,918	2,016	2,093	2,055	1,788	1,412	1,892
Noninterest Expense
Compensation
1,620	1,597	1,595	1,574	1,559	1,568	1,529	1,542	1,523	1,499	1,440	1,416	1,391	1,357	1,329	1,277	1,249	1,212	1,225	1,196	1,179	1,151	1,132	1,125	1,115	1,103	1,088	1,098	1,082	1,083	1,109	1,076	1,052	1,057	1,021	1,004	959	999	973	946	861	816	769	764	786	763	761
Employee benefits
352	315	324	314	333	308	294	299	330	291	268	274	301	150	280	278	300	272	285	293	317	245	250	257	289	275	278	277	310	231	225	229	260	202	203	210	230	171	171	172	180	145	134	140	155	125	129
Net occupancy and equipment
276	286	279	281	277	266	270	262	265	259	258	255	247	247	250	243	248	246	251	247	247	248	249	241	249	240	240	234	235	234	233	230	220	249	252	249	249	237	229	226	227	214	203	208	211	199	190
Professional services
99	139	114	106	95	133	96	95	83	114	104	105	96	156	127	121	98	125	115	106	77	132	102	97	83	118	94	91	78	166	144	136	84	131	100	82	70	97	78	73	58	81	63	59	52	61	59
Marketing and business development
74	117	109	111	89	115	106	111	97	251	92	109	90	107	102	149	77	96	99	96	70	129	78	96	79	103	85	96	73	103	96	80	109	112	102	90	65	106	108	86	60	105	137	80	56	75	66
Technology and communications
289	291	277	270	257	254	247	242	235	236	227	223	217	160	243	241	233	230	222	221	214	219	219	214	211	209	214	214	211	214	205	201	201	195	189	189	185	187	186	186	185	186	175	157	155	153	149
Postage, printing and supplies
72	71	74	73	72	80	84	80	80	79	82	81	81	75	80	77	79	74	77	64	82	86	81	80	81	80	76	78	76	78	75	77	74	77	76	76	74	78	74	75	74	70	72	72	74	73	73
Other intangibles
42	44	42	42	40	41	41	40	39	44	44	43	44	45	45	44	45	46	42	43	43	51	51	48	49	56	55	55	57	66	67	70	71	74	75	75	75	89	90	91	97	107	94	95	91	88	87
Other
492	541	330	382	365	515	377	414	403	1,126	483	478	442	558	475	562	420	508	459	416	436	543	452	595	388	498	435	414	348	511	455	502	489	599	458	450	407	521	476	522	394	504	406	554	291	276	304
Total noninterest expense
3,316	3,401	3,144	3,153	3,087	3,280	3,044	3,085	3,055	3,899	2,998	2,984	2,909	2,855	2,931	2,992	2,749	2,809	2,775	2,682	2,665	2,804	2,614	2,753	2,544	2,682	2,565	2,557	2,470	2,686	2,609	2,601	2,560	2,696	2,476	2,425	2,314	2,485	2,385	2,377	2,136	2,228	2,053	2,129	1,871	1,813	1,818
Income before income taxes
1,439	1,847	2,384	2,277	2,086	2,153	2,282	2,199	2,044	1,311	2,158	2,063	1,985	2,040	2,082	2,078	1,905	2,045	2,037	2,025	1,923	2,022	2,009	2,056	1,908	1,874	1,972	1,973	1,945	1,927	2,025	1,942	1,832	1,855	1,742	1,637	1,395	1,271	1,154	951	824	710	691	585	646	784	1,353
Applicable income taxes
260	354	467	449	378	291	460	441	362	-375	589	551	499	549	566	542	504	556	534	528	479	521	523	547	496	403	542	529	558	552	593	564	527	527	490	458	366	315	260	199	161	108	86	100	101	198	386
Net income
1,179	1,493	1,917	1,828	1,708	1,862	1,822	1,758	1,682	1,686	1,569	1,512	1,486	1,491	1,516	1,536	1,401	1,489	1,503	1,497	1,444	1,501	1,486	1,509	1,412	1,471	1,430	1,444	1,387	1,375	1,432	1,378	1,305	1,328	1,252	1,179	1,029	956	894	752	663	602	605	485	545	586	967
Net (income) loss attributable to noncontrolling interests
8	7	9	7	9	6	7	8	7	4	6	12	13	13	14	14	15	13	14	14	13	13	15	14	15	15	-38	-40	-41	-45	-42	-37	-33	-22	-21	-24	-17	-18	-14	-14	-6	0	2	14	16	10	17
Net income attributable to U.S. Bancorp
1,171	1,486	1,908	1,821	1,699	1,856	1,815	1,750	1,675	1,682	1,563	1,500	1,473	1,478	1,502	1,522	1,386	1,476	1,489	1,483	1,431	1,488	1,471	1,495	1,397	1,456	1,468	1,484	1,428	1,420	1,474	1,415	1,338	1,350	1,273	1,203	1,046	974	908	766	669	602	603	471	529	576	950
Net income applicable to U.S. Bancorp common shareholders
1,088	1,408	1,821	1,741	1,613	1,777	1,732	1,678	1,597	1,611	1,485	1,430	1,387	1,391	1,434	1,435	1,329	1,404	1,422	1,417	1,365	1,420	1,405	1,427	1,331	1,389	1,400	1,405	1,358	1,349	1,404	1,345	1,285	1,314	1,237	1,167	1,003	951	871	862	648	580	583	221	419	557	926
Earnings per common share
0.72	0.90	1.16	1.09	1.01	1.10	1.06	1.02	0.97	0.97	0.89	0.85	0.82	0.81	0.84	0.83	0.77	0.80	0.81	0.80	0.77	0.80	0.78	0.79	0.73	0.77	0.76	0.76	0.73	0.72	0.74	0.71	0.68	0.69	0.65	0.61	0.52	0.49	0.46	0.45	0.34	0.30	0.31	0.12	0.24	0.32	0.53
Diluted earnings per common share
0.72	0.92	1.15	1.09	1.00	1.10	1.06	1.02	0.96	0.96	0.88	0.85	0.82	0.81	0.84	0.83	0.76	0.79	0.81	0.80	0.76	0.79	0.78	0.78	0.73	0.75	0.76	0.76	0.73	0.72	0.74	0.71	0.67	0.70	0.64	0.60	0.52	0.49	0.45	0.45	0.34	0.31	0.30	0.12	0.24	0.32	0.53
Dividends declared per common share
-	-	-	-	-	-	-	-	-	-	0.30	0.28	0.28	-	0.28	0.25	0.25	0.25	0.25	0.25	0.24	0.24	0.24	0.24	0.23	0.23	0.23	0.23	0.19	0.19	0.19	0.19	0.19	0.12	0.12	0.12	0.12	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.05	0.42	0.42
Average common shares outstanding
1,518	1,557	1,575	1,590	1,602	1,613	1,629	1,642	1,652	1,658	1,672	1,684	1,694	1,700	1,710	1,725	1,737	1,746	1,758	1,771	1,781	1,785	1,798	1,811	1,818	1,823	1,832	1,843	1,858	1,873	1,886	1,888	1,901	1,902	1,915	1,921	1,918	1,913	1,913	1,912	1,910	1,909	1,908	1,833	1,754	1,743	1,740
Average diluted common shares outstanding
1,519	1,557	1,578	1,592	1,605	1,616	1,633	1,646	1,657	1,663	1,678	1,690	1,701	1,706	1,716	1,731	1,743	1,754	1,766	1,779	1,789	1,796	1,807	1,821	1,828	1,833	1,843	1,853	1,867	1,879	1,897	1,898	1,910	1,913	1,922	1,929	1,928	1,924	1,920	1,921	1,919	1,919	1,917	1,840	1,760	1,756	1,755