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Consolidated Statement of Income (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest Income    
Loans $ 3,540 $ 3,095
Loans held for sale 25 33
Investment securities 705 613
Other interest income 81 50
Total interest income 4,351 3,791
Interest Expense    
Deposits 695 345
Short-term borrowings 93 75
Long-term debt 304 203
Total interest expense 1,092 623
Net interest income 3,259 3,168
Provision for credit losses 377 341
Net interest income after provision for credit losses 2,882 2,827
Noninterest Income    
Credit and debit card revenue 304 324
Corporate payment products revenue 162 154
Merchant processing services 378 363
Trust and investment management fees 399 398
Deposit service charges 217 261
Treasury management fees 146 150
Commercial products revenue 219 220
Mortgage banking revenue 169 184
Investment products fees 45 46
Realized securities gains (losses), net 5 5
Other 247 167
Total noninterest income 2,291 2,272
Noninterest Expense    
Compensation 1,559 1,523
Employee benefits 333 330
Net occupancy and equipment 277 265
Professional services 95 83
Marketing and business development 89 97
Technology and communications 257 235
Postage, printing and supplies 72 80
Other intangibles 40 39
Other 365 403
Total noninterest expense 3,087 3,055
Income before income taxes 2,086 2,044
Applicable income taxes 378 362
Net income 1,708 1,682
Net (income) loss attributable to noncontrolling interests (9) (7)
Net income attributable to U.S. Bancorp 1,699 1,675
Net income applicable to U.S. Bancorp common shareholders $ 1,613 $ 1,597
Earnings per common share $ 1.01 $ 0.97
Diluted earnings per common share $ 1.00 $ 0.96
Average common shares outstanding 1,602 1,652
Average diluted common shares outstanding 1,605 1,657