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Consolidated Statement of Shareholders' Equity - USD ($)
shares in Millions, $ in Millions
Total
Change in accounting principle
[1]
Total U.S. Bancorp Shareholders’ Equity
Total U.S. Bancorp Shareholders’ Equity
Change in accounting principle
[1]
Common Stock
Preferred Stock
Capital Surplus
Retained Earnings
Retained Earnings
Change in accounting principle
[1]
Treasury Stock
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interests
Beginning Balance (in shares) at Dec. 31, 2022         1,531              
Beginning Balance at Dec. 31, 2022 $ 51,232 $ 46 $ 50,766 $ 46 $ 21 $ 6,808 $ 8,712 $ 71,901 $ 46 $ (25,269) $ (11,407) $ 466
Ending Balance (in shares) at Mar. 31, 2023         1,533              
Ending Balance at Mar. 31, 2023 $ 53,454   52,989   $ 21 6,808 8,699 72,807   (25,193) (10,153) 465
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Accounting Standards Update [Extensible Enumeration] Accounting Standards Update 2022-02 [Member]                      
Beginning Balance (in shares) at Dec. 31, 2022         1,531              
Beginning Balance at Dec. 31, 2022 $ 51,232 $ 46 50,766 $ 46 $ 21 6,808 8,712 71,901 $ 46 (25,269) (11,407) 466
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 3,073   3,059         3,059       14
Other comprehensive income (loss) 689   689               689  
Preferred stock dividends [2] (171)   (171)         (171)        
Common stock dividends (1,480)   (1,480)         (1,480)        
Issuance of common and treasury stock (in shares)         3              
Issuance of common and treasury stock 8   8       (116)     124    
Purchase of treasury stock (in shares)         (1)              
Purchase of treasury stock (44)   (44)             (44)    
Distributions to noncontrolling interests (14)                     (14)
Net other changes in noncontrolling interests (1)                     (1)
Stock option and restricted stock grants 146   146       146          
Ending Balance (in shares) at Jun. 30, 2023         1,533              
Ending Balance at Jun. 30, 2023 53,484   53,019   $ 21 6,808 8,742 73,355   (25,189) (10,718) 465
Beginning Balance (in shares) at Mar. 31, 2023         1,533              
Beginning Balance at Mar. 31, 2023 53,454   52,989   $ 21 6,808 8,699 72,807   (25,193) (10,153) 465
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 1,369   1,361         1,361       8
Other comprehensive income (loss) (565)   (565)               (565)  
Preferred stock dividends [3] (73)   (73)         (73)        
Common stock dividends (740)   (740)         (740)        
Issuance of common and treasury stock 2   2       (2)     4    
Distributions to noncontrolling interests (7)                     (7)
Net other changes in noncontrolling interests (1)                     (1)
Stock option and restricted stock grants 45   45       45          
Ending Balance (in shares) at Jun. 30, 2023         1,533              
Ending Balance at Jun. 30, 2023 53,484   53,019   $ 21 6,808 8,742 73,355   (25,189) (10,718) 465
Beginning Balance (in shares) at Dec. 31, 2023         1,558              
Beginning Balance at Dec. 31, 2023 55,771   55,306   $ 21 6,808 8,673 74,026   (24,126) (10,096) 465
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 2,937   2,922         2,922       15
Other comprehensive income (loss) (212)   (212)               (212)  
Preferred stock dividends [4] (177)   (177)         (177)        
Common stock dividends (1,540)   (1,540)         (1,540)        
Issuance of common and treasury stock (in shares)         3              
Issuance of common and treasury stock 14   14       (142)     156    
Purchase of treasury stock (in shares)         (1)              
Purchase of treasury stock (50)   (50)             (50)    
Distributions to noncontrolling interests (15)                     (15)
Stock option and restricted stock grants 157   157       157          
Ending Balance (in shares) at Jun. 30, 2024         1,560              
Ending Balance at Jun. 30, 2024 56,885   56,420   $ 21 6,808 8,688 75,231   (24,020) (10,308) 465
Beginning Balance (in shares) at Mar. 31, 2024         1,560              
Beginning Balance at Mar. 31, 2024 56,033   55,568   $ 21 6,808 8,642 74,473   (24,023) (10,353) 465
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 1,611   1,603         1,603       8
Other comprehensive income (loss) 45   45               45  
Preferred stock dividends [5] (75)   (75)         (75)        
Common stock dividends (770)   (770)         (770)        
Issuance of common and treasury stock 1   1       (3)     4    
Purchase of treasury stock (1)   (1)             (1)    
Distributions to noncontrolling interests (8)                     (8)
Stock option and restricted stock grants 49   49       49          
Ending Balance (in shares) at Jun. 30, 2024         1,560              
Ending Balance at Jun. 30, 2024 $ 56,885   $ 56,420   $ 21 $ 6,808 $ 8,688 $ 75,231   $ (24,020) $ (10,308) $ 465
[1] Effective January 1, 2023, the Company adopted accounting guidance which removed the separate recognition and measurement of troubled debt restructurings. Upon adoption, the Company reduced its allowance for credit losses and increased retained earnings net of deferred taxes through a cumulative-effect adjustment.
[2] Reflects dividends declared per share on the Company’s Series A, Series B, Series J, Series K, Series L, Series M, Series N and Series O Non-Cumulative Perpetual Preferred Stock of $3,049.948, $709.695, $662.50, $687.50, $468.75, $500.00, $462.50 and $562.50, respectively.
[3] Reflects dividends declared per share on the Company’s Series A, Series B, Series K, Series L, Series M, Series N and Series O Non-Cumulative Perpetual Preferred Stock of $1,587.52, $370.338, $343.75, $234.375, $250.00, $231.25 and $281.25, respectively.
[4] Reflects dividends declared per share on the Company’s Series A, Series B, Series J, Series K, Series L, Series M, Series N and Series O Non-Cumulative Perpetual Preferred Stock of $3,338.125, $781.448, $662.50, $687.50, $468.750, $500.00, $462.50 and $562.50, respectively.
[5] Reflects dividends declared per share on the Company’s Series A, Series B, Series K, Series L, Series M, Series N and Series O Non-Cumulative Perpetual Preferred Stock of $1,670.904, $391.184, $343.75, $234.375, $250.00, $231.25 and $281.25, respectively.