U.S. Bancorp (Parent Company) (Tables)

12 Months Ended

Dec. 31, 2012

Condensed Statement of Financial Position of Parent Company Only

Condensed Balance Sheet

At December 31 (Dollars in Millions)	2012		2011
Assets
Due from banks, principally interest-bearing	$	3,630	$	4,728
Available-for-sale securities		425		1,166
Investments in bank subsidiaries		38,007		33,179
Investments in nonbank subsidiaries		1,445		1,321
Advances to bank subsidiaries		6,173		6,094
Advances to nonbank subsidiaries		1,404		1,190
Other assets		1,550		1,481
Total assets	$	52,634	$	49,159
Liabilities and Shareholders’ Equity
Short-term funds borrowed	$	134	$	29
Long-term debt		12,772		14,593
Other liabilities		730		559
Shareholders’ equity		38,998		33,978
Total liabilities and shareholders’ equity	$	52,634	$	49,159

Condensed Income Statement of Parent Company Only

Condensed Statement of Income

Year Ended December 31 (Dollars in Millions)	2012			2011			2010
Income
Dividends from bank subsidiaries	$	250		$	1,500		$	–
Dividends from nonbank subsidiaries		4			7			3
Interest from subsidiaries		96			101			109
Other income		149			134			105
Total income		499			1,742			217
Expense
Interest on short-term funds borrowed		1			1			1
Interest on long-term debt		392			424			366
Other expense		122			79			80
Total expense		515			504			447
Income before income taxes and equity in undistributed income of subsidiaries		(16	)		1,238			(230	)
Applicable income taxes		(85	)		(83	)		(70	)
Income of parent company		69			1,321			(160	)
Equity in undistributed income of subsidiaries		5,578			3,551			3,477
Net income attributable to U.S. Bancorp	$	5,647		$	4,872		$	3,317

Condensed Statement of Cash Flows of Parent Company Only

Condensed Statement of Cash Flows

Year Ended December 31 (Dollars in Millions)	2012			2011			2010
Operating Activities
Net income attributable to U.S. Bancorp	$	5,647		$	4,872		$	3,317
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed income of subsidiaries		(5,578	)		(3,551	)		(3,477	)
Other, net		(35	)		12			130
Net cash provided by (used in) operating activities		34			1,333			(30	)
Investing Activities
Proceeds from sales and maturities of investment securities		979			297			298
Purchases of investment securities		(35	)		(36	)		(63	)
Investments in subsidiaries		–			–			(1,750	)
Equity distributions from subsidiaries		845			77			58
Net (increase) decrease in short-term advances to subsidiaries		207			(4,613	)		(253	)
Long-term advances to subsidiaries		(500	)		–			(300	)
Principal collected on long-term advances to subsidiaries		–			–			300
Other, net		(22	)		(3	)		33
Net cash provided by (used in) investing activities		1,474			(4,278	)		(1,677	)
Financing Activities
Net increase (decrease) in short-term borrowings		105			(31	)		(782	)
Proceeds from issuance of long-term debt		3,550			2,426			4,250
Principal payments or redemption of long-term debt		(5,412	)		(851	)		(5,250	)
Fees paid on exchange of income trust securities for perpetual preferred stock		–			–			(4	)
Proceeds from issuance of preferred stock		2,163			676			–
Proceeds from issuance of common stock		395			180			119
Repurchase of common stock		(1,856	)		(514	)		–
Cash dividends paid on preferred stock		(204	)		(118	)		(89	)
Cash dividends paid on common stock		(1,347	)		(817	)		(383	)
Net cash provided by (used in) financing activities		(2,606	)		951			(2,139	)
Change in cash and due from banks		(1,098	)		(1,994	)		(3,846	)
Cash and due from banks at beginning of year		4,728			6,722			10,568
Cash and due from banks at end of year	$	3,630		$	4,728		$	6,722