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Business Segments (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Business Segment Results
Condensed income statement results by business segment for the years ended December 31 were as follows:
Wealth, Corporate, Commercial and Institutional BankingConsumer and Business Banking Payment Services
(Dollars in Millions)202420232022202420232022202420232022
Net interest income (taxable-equivalent basis)(a)
$7,645 $7,862 $5,680 $7,658 $8,683 $7,266 $2,831 $2,609 $2,504 
Noninterest income(b)(c)
4,548 4,141 3,561 1,606 1,675 1,536 4,198 4,055 3,794 
Total net revenue12,193 12,003 9,241 9,264 10,358 8,802 7,029 6,664 6,298 
Compensation and employee benefits2,191 2,151 1,803 2,221 2,305 2,041 906 869 835 
Other intangibles206 230 37 266 292 42 97 114 136 
Net shared services2,116 2,132 1,547 2,800 2,956 2,655 2,126 2,017 1,656 
Other direct expenses(d)
936 931 748 1,282 1,316 1,041 926 920 898 
Total noninterest expense5,449 5,444 4,135 6,569 6,869 5,779 4,055 3,920 3,525 
Income (loss) before provision and income taxes6,744 6,559 5,106 2,695 3,489 3,023 2,974 2,744 2,773 
Provision for credit losses385 340 154 182 78 75 1,614 1,394 980 
Income (loss) before income taxes6,359 6,219 4,952 2,513 3,411 2,948 1,360 1,350 1,793 
Income taxes and taxable-equivalent adjustment1,590 1,555 1,239 629 854 738 340 337 448 
Net income (loss)4,769 4,664 3,713 1,884 2,557 2,210 1,020 1,013 1,345 
Net (income) loss attributable to noncontrolling interests— — — — — — — — — 
Net income (loss) attributable to U.S. Bancorp$4,769 $4,664 $3,713 $1,884 $2,557 $2,210 $1,020 $1,013 $1,345 
 Treasury and Corporate SupportConsolidated Company
(Dollars in Millions)202420232022202420232022
Net interest income (taxable-equivalent basis)(a)
$(1,725)$(1,627)$(604)$16,409 $17,527 $14,846 
Noninterest income(b)(c)
694 746 565 11,046 10,617 9,456 
Total net revenue(1,031)(881)(39)27,455 28,144 24,302 
Compensation and employee benefits5,236 5,091 4,478 10,554 10,416 9,157 
Other intangibles— — — 569 636 215 
Net shared services(7,042)(7,105)(5,858)— — — 
Other direct expenses(d)
2,921 4,654 2,847 6,065 7,821 5,534 
Total noninterest expense1,115 2,640 1,467 17,188 18,873 14,906 
Income (loss) before provision and income taxes(2,146)(3,521)(1,506)10,267 9,271 9,396 
Provision for credit losses57 463 768 2,238 2,275 1,977 
Income (loss) before income taxes(2,203)(3,984)(2,274)8,029 6,996 7,419 
Income taxes and taxable-equivalent adjustment(859)(1,208)(844)1,700 1,538 1,581 
Net income (loss)(1,344)(2,776)(1,430)6,329 5,458 5,838 
Net (income) loss attributable to noncontrolling interests(30)(29)(13)(30)(29)(13)
Net income (loss) attributable to U.S. Bancorp$(1,374)$(2,805)$(1,443)$6,299 $5,429 $5,825 
(a)Total net interest income includes a taxable-equivalent adjustment of $120 million, $131 million and $118 million for 2024, 2023 and 2022, respectively. See Non-GAAP Financial Measures beginning on page 57.
(b)Payment services noninterest income presented net of related rewards and rebate costs and certain partner payments of $3.1 billion, $3.0 billion and $2.9 billion for 2024, 2023 and 2022, respectively.
(c)Total noninterest income includes revenue generated from certain contracts with customers of $9.2 billion, $8.8 billion and $8.0 billion for 2024, 2023 and 2022, respectively.
(d)Other direct expenses for each reportable segment includes: net occupancy and equipment, professional services, marketing and business development, technology and communications, and other.
Average balances by business segment for the years ended December 31 were as follows:
Wealth, Corporate, Commercial and Institutional BankingConsumer and Business Banking Payment Services
(Dollars in Millions)202420232022202420232022202420232022
Loans$172,466 $175,836 $150,512 $155,088 $162,012 $144,441 $41,081 $38,471 $34,627 
Other earning assets10,122 6,613 4,771 2,410 2,388 3,117 142 97 634 
Goodwill4,825 4,682 3,634 4,326 4,466 3,250 3,357 3,327 3,305 
Other intangible assets981 1,007 365 4,539 5,264 3,784 277 352 423 
Assets201,362 202,701 169,554 168,913 179,247 160,174 47,169 44,291 41,072 
Noninterest-bearing deposits56,760 70,908 82,671 20,810 30,967 31,719 2,685 2,981 3,410 
Interest-bearing deposits214,622 203,038 175,345 200,611 185,712 163,190 96 103 162 
Total deposits271,382 273,946 258,016 221,421 216,679 194,909 2,781 3,084 3,572 
Total U.S. Bancorp shareholders’ equity21,438 22,366 18,159 14,426 16,026 12,678 10,005 9,310 8,233 
 
Treasury and Corporate SupportConsolidated Company
(Dollars in Millions)202420232022202420232022
Loans$5,240 $4,956 $3,993 $373,875 $381,275 $333,573 
Other earning assets220,092 214,826 203,248 232,766 223,924 211,770 
Goodwill— — — 12,508 12,475 10,189 
Other intangible assets9 16 5 5,806 6,639 4,577 
Assets246,570 237,201 221,349 664,014 663,440 592,149 
Noninterest-bearing deposits2,752 2,912 2,594 83,007 107,768 120,394 
Interest-bearing deposits11,179 9,042 3,293 426,508 397,895 341,990 
Total deposits13,931 11,954 5,887 509,515 505,663 462,384 
Total U.S. Bancorp shareholders’ equity11,337 5,958 11,346 57,206 53,660 50,416