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Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Interest Income      
Loans $ 14,099 $ 13,120 $ 11,788
Loans held for sale 162 165 144
Investment securities 2,893 2,616 2,232
Other interest income 340 272 182
Total interest income 17,494 16,173 14,346
Interest Expense      
Deposits 2,855 1,869 1,041
Short-term borrowings 360 378 141
Long-term debt 1,227 1,007 784
Total interest expense 4,442 3,254 1,966
Net interest income 13,052 12,919 12,380
Provision for credit losses 1,504 1,379 1,390
Net interest income after provision for credit losses 11,548 11,540 10,990
Noninterest Income      
Credit and debit card revenue 1,413 1,401 1,289
Corporate payment products revenue 664 644 575
Merchant processing services 1,601 1,531 1,486
Trust and investment management fees 1,673 1,619 1,522
Deposit service charges 909 1,070 1,035
Treasury management fees 578 594 618
Commercial products revenue 934 895 954
Mortgage banking revenue 874 720 834
Investment products fees 186 188 173
Realized securities gains (losses), net 73 30 57
Other 926 910 774
Total noninterest income 9,831 9,602 9,317
Noninterest Expense      
Compensation 6,325 6,162 5,746
Employee benefits 1,286 1,231 1,134
Net occupancy and equipment 1,123 1,063 1,019
Professional services 454 407 419
Marketing and business development 426 429 542
Technology and communications 1,095 978 903
Postage, printing and supplies 290 324 323
Other intangibles 168 161 175
Other 1,618 1,709 2,529
Total noninterest expense 12,785 12,464 12,790
Income before income taxes 8,594 8,678 7,517
Applicable income taxes 1,648 1,554 1,264
Net income 6,946 7,124 6,253
Net (income) loss attributable to noncontrolling interests (32) (28) (35)
Net income attributable to U.S. Bancorp 6,914 7,096 6,218
Net income applicable to U.S. Bancorp common shareholders $ 6,583 $ 6,784 $ 5,913
Earnings per common share $ 4.16 $ 4.15 $ 3.53
Diluted earnings per common share $ 4.16 $ 4.14 $ 3.51
Average common shares outstanding 1,581 1,634 1,677
Average diluted common shares outstanding 1,583 1,638 1,683