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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating Activities    
Net income attributable to U.S. Bancorp $ 2,922 $ 3,059
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 1,121 1,248
Depreciation and amortization of premises and equipment 182 193
Amortization of intangibles 288 319
(Gain) loss on sale of loans held for sale (71) 18
(Gain) loss on sale of securities and other assets 15 24
Loans originated for sale, net of repayments (10,725) (14,639)
Proceeds from sales of loans held for sale 10,069 14,244
Other, net 1,734 (308)
Net cash provided by operating activities 5,535 4,158
Investing Activities    
Proceeds from sales of available-for-sale investment securities 648 8,135
Proceeds from maturities of held-to-maturity investment securities 2,973 2,995
Proceeds from maturities of available-for-sale investment securities 2,949 3,048
Purchases of held-to-maturity investment securities (156) (924)
Purchases of available-for-sale investment securities (14,085) (2,790)
Net increase in loans outstanding (3,063) (613)
Proceeds from sales of loans 248 5,105
Purchases of loans (567) (608)
Net increase in securities purchased under agreements to resell (1,842) (1,443)
Other, net (386) (1,416)
Net cash (used in) provided by investing activities (13,281) 11,489
Financing Activities    
Net increase (decrease) in deposits 11,473 (3,002)
Net increase in short-term borrowings 1,278 551
Proceeds from issuance of long-term debt 4,947 7,230
Principal payments or redemption of long-term debt (3,552) (1,644)
Proceeds from issuance of common stock 14 6
Repurchase of common stock (50) (44)
Cash dividends paid on preferred stock (178) (165)
Cash dividends paid on common stock (1,539) (1,479)
Other, net (7) 0
Net cash provided by financing activities 12,386 1,453
Change in cash and due from banks 4,640 17,100
Cash and due from banks at beginning of period 61,192 53,542
Cash and due from banks at end of period $ 65,832 $ 70,642