Earnings Per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 15 Earnings Per Share

The components of earnings per share were:

Year Ended December 31 (Dollars and Shares in Millions, Except Per Share Data)	2024		2023		2022
Net income attributable to U.S. Bancorp	$	6,299	$	5,429	$	5,825
Preferred dividends	(352)		(350)		(296)
Earnings allocated to participating stock awards	(38)		(28)		(28)
Net income applicable to U.S. Bancorp common shareholders	$	5,909	$	5,051	$	5,501
Average common shares outstanding	1,560		1,543		1,489
Net effect of the exercise and assumed purchase of stock awards	1		—		1
Average diluted common shares outstanding	1,561		1,543		1,490
Earnings per common share	$	3.79	$	3.27	$	3.69
Diluted earnings per common share	$	3.79	$	3.27	$	3.69

Options outstanding at December 31, 2024, 2023 and 2022, to purchase 1 million, 3 million and 1 million common shares, respectively, were not included in the computation of diluted earnings per share for the years ended December 31, 2024, 2023 and 2022, because they were antidilutive.