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Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest Income        
Loans $ 5,688 $ 5,862 $ 16,769 $ 17,335
Loans held for sale 35 45 122 123
Investment securities 1,392 1,316 4,055 3,785
Other interest income 812 863 2,101 2,592
Total interest income 7,927 8,086 23,047 23,835
Interest Expense        
Deposits 2,648 3,004 7,700 8,916
Short-term borrowings 328 284 868 850
Long-term debt 729 663 2,114 1,926
Total interest expense 3,705 3,951 10,682 11,692
Net interest income 4,222 4,135 12,365 12,143
Provision for credit losses 571 557 1,609 1,678
Net interest income after provision for credit losses 3,651 3,578 10,756 10,465
Noninterest Income        
Card revenue 440 426 1,280 1,246
Corporate payment products revenue 195 203 576 582
Merchant processing services 463 440 1,352 1,295
Trust and investment management fees 730 667 2,113 1,957
Service charges 333 302 984 939
Capital markets revenue 434 397 1,206 1,159
Mortgage banking revenue 180 155 515 511
Investment products fees 97 84 274 243
Securities gains (losses), net (7) (119) (64) (153)
Other 213 143 602 434
Total noninterest income 3,078 2,698 8,838 8,213
Noninterest Expense        
Compensation and employee benefits 2,561 2,637 7,798 7,947
Net occupancy and equipment 300 317 907 929
Professional services 117 130 324 356
Marketing and business development 175 165 518 459
Technology and communications 560 524 1,627 1,540
Other intangibles 125 142 372 430
Merger and integration charges 0 0 0 155
Other 359 289 1,064 1,061
Total noninterest expense 4,197 4,204 12,610 12,877
Income before income taxes 2,532 2,072 6,984 5,801
Applicable income taxes 524 350 1,439 1,142
Net income 2,008 1,722 5,545 4,659
Net (income) loss attributable to noncontrolling interests (7) (8) (20) (23)
Net income attributable to U.S. Bancorp 2,001 1,714 5,525 4,636
Net income applicable to U.S. Bancorp common shareholders, basic 1,893 1,601 5,229 4,328
Net income applicable to U.S. Bancorp common shareholders, diluted $ 1,893 $ 1,601 $ 5,229 $ 4,328
Earnings per common share (in dollars per share) $ 1.22 $ 1.03 $ 3.36 $ 2.77
Diluted earnings per common share (in dollars per share) $ 1.22 $ 1.03 $ 3.35 $ 2.77
Average common shares outstanding (in shares) 1,557 1,561 1,558 1,560
Average diluted common shares outstanding (in shares) 1,557 1,561 1,559 1,561