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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating Activities    
Net income attributable to U.S. Bancorp $ 4,636 $ 4,582
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 1,678 1,763
Depreciation and amortization of premises and equipment 271 288
Amortization of intangibles 430 480
(Gain) loss on sales of loans held for sale (32) 26
(Gain) loss on sales of securities and other assets 138 9
Loans originated for sale, net of repayments (17,898) (21,637)
Proceeds from sales of loans held for sale 16,756 21,164
Other, net 528 1,356
Net cash provided by operating activities 6,507 8,031
Investing Activities    
Proceeds from sales of available-for-sale investment securities 9,867 8,135
Proceeds from maturities of held-to-maturity investment securities 4,651 4,742
Proceeds from maturities of available-for-sale investment securities 4,537 4,828
Purchases of held-to-maturity investment securities (226) (924)
Purchases of available-for-sale investment securities (23,185) (4,857)
Net (increase) decrease in loans outstanding (1,535) 2,946
Proceeds from sales of loans 338 5,622
Purchases of loans (795) (900)
Net increase in securities purchased under agreements to resell (3,914) (1,731)
Net cash paid for acquisitions (103) 0
Other, net (1,294) (736)
Net cash (used in) provided by investing activities (11,659) 17,125
Financing Activities    
Net increase (decrease) in deposits 8,819 (6,245)
Net increase (decrease) in short-term borrowings 8,429 (9,887)
Proceeds from issuance of long-term debt 8,810 7,254
Principal payments or redemption of long-term debt (5,916) (3,906)
Proceeds from issuance of common stock 22 942
Repurchase of common stock (51) (45)
Cash dividends paid on preferred stock (254) (238)
Cash dividends paid on common stock (2,307) (2,219)
Other, net (30) 0
Net cash provided by (used in) financing activities 17,522 (14,344)
Change in cash and due from banks 12,370 10,812
Cash and due from banks at beginning of period 61,192 53,542
Cash and due from banks at end of period $ 73,562 $ 64,354