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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
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 4,597   4,582         4,582       15
Other comprehensive income (loss) (848)   (848)               (848)  
Preferred stock dividends [2] (273)   (273)         (273)        
Common stock dividends (2,233)   (2,233)         (2,233)        
Issuance of common and treasury stock (in shares)         27              
Issuance of common and treasury stock 931   931       (215)     1,146    
Purchase of treasury stock (in shares)         (1)              
Purchase of treasury stock (45)   (45)             (45)    
Distributions to noncontrolling interests (15)                     (15)
Net other changes in noncontrolling interests (1)                     (1)
Stock option and restricted stock grants 187   187       187          
Ending Balance (in shares) at Sep. 30, 2023         1,557              
Ending Balance at Sep. 30, 2023 $ 53,578   53,113   $ 21 6,808 8,684 74,023   (24,168) (12,255) 465
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Accounting Standards Update [Extensible Enumeration] Accounting Standards Update 2022-02 [Member]                      
Beginning Balance (in shares) at Jun. 30, 2023         1,533              
Beginning Balance at Jun. 30, 2023 $ 53,484   53,019   $ 21 6,808 8,742 73,355   (25,189) (10,718) 465
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 1,524   1,523         1,523       1
Other comprehensive income (loss) (1,537)   (1,537)               (1,537)  
Preferred stock dividends [3] (102)   (102)         (102)        
Common stock dividends (753)   (753)         (753)        
Issuance of common and treasury stock (in shares)         24              
Issuance of common and treasury stock 923   923       (99)     1,022    
Purchase of treasury stock (1)   (1)             (1)    
Distributions to noncontrolling interests (1)                     (1)
Stock option and restricted stock grants 41   41       41          
Ending Balance (in shares) at Sep. 30, 2023         1,557              
Ending Balance at Sep. 30, 2023 53,578   53,113   $ 21 6,808 8,684 74,023   (24,168) (12,255) 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) 4,659   4,636         4,636       23
Other comprehensive income (loss) 1,350   1,350               1,350  
Preferred stock dividends [4] (280)   (280)         (280)        
Common stock dividends (2,325)   (2,325)         (2,325)        
Issuance of common and treasury stock (in shares)         4              
Issuance of common and treasury stock 24   24       (143)     167    
Purchase of treasury stock (in shares)         (1)              
Purchase of treasury stock (51)   (51)             (51)    
Distributions to noncontrolling interests (23)                     (23)
Net other changes in noncontrolling interests (3)                     (3)
Stock option and restricted stock grants 199   199       199          
Ending Balance (in shares) at Sep. 30, 2024         1,561              
Ending Balance at Sep. 30, 2024 59,321   58,859   $ 21 6,808 8,729 76,057   (24,010) (8,746) 462
Beginning Balance (in shares) at Jun. 30, 2024         1,560              
Beginning Balance at Jun. 30, 2024 56,885   56,420   $ 21 6,808 8,688 75,231   (24,020) (10,308) 465
Increase (Decrease) in Stockholders' Equity [Roll Forward]                        
Net income (loss) 1,722   1,714         1,714       8
Other comprehensive income (loss) 1,562   1,562               1,562  
Preferred stock dividends [5] (103)   (103)         (103)        
Common stock dividends (785)   (785)         (785)        
Issuance of common and treasury stock (in shares)         1              
Issuance of common and treasury stock 10   10       (1)     11    
Purchase of treasury stock (1)   (1)             (1)    
Distributions to noncontrolling interests (8)                     (8)
Net other changes in noncontrolling interests (3)                     (3)
Stock option and restricted stock grants 42   42       42          
Ending Balance (in shares) at Sep. 30, 2024         1,561              
Ending Balance at Sep. 30, 2024 $ 59,321   $ 58,859   $ 21 $ 6,808 $ 8,729 $ 76,057   $ (24,010) $ (8,746) $ 462
[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 $4,733.948, $1,103.862, $1,325.00, $1,031.25, $703.125, $750.00, $693.75 and $843.75, respectively.
[3] 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 $1,684.00, $394.167, $662.50, $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 $5,020.442, $1,175.194, $1,325.00, $1,031.25, $703.125, $750.00, $693.75 and $843.75, respectively.
[5] 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 $1,682.317, $393.746, $662.50, $343.75, $234.375, $250.00, $231.25 and $281.25, respectively.