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Earnings Per Share - Components of Earnings Per Share (Detail) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Earnings Per Share [Abstract]    
Net income attributable to U.S. Bancorp $ 2,280 $ 1,171
Preferred dividends (90) [1] (78) [2]
Impact of preferred stock call [3] (5)  
Earnings allocated to participating stock awards (10) (5)
Net income applicable to U.S. Bancorp common shareholders $ 2,175 $ 1,088
Average common shares outstanding 1,502 1,518
Net effect of the exercise and assumed purchase of stock awards 1 1
Average diluted common shares outstanding 1,503 1,519
Earnings per common share $ 1.45 $ 0.72
Diluted earnings per common share $ 1.45 $ 0.72
[1] Reflects dividends declared per share on the Company’s Series A, Series B, Series F, Series I, Series J, Series K, Series L and Series M Non-Cumulative Perpetual Preferred Stock of $875.00, $218.75, $406.25, $232.953, $662.50, $343.75, $234.375, and $202.778 respectively.
[2] Reflects dividends declared per share on the Company’s Series A, Series B, Series F, Series H, Series J and Series K Non-Cumulative Perpetual Preferred Stock of $884.722, $221.18, $406.25, $321.88, $662.50 and $343.75, respectively.
[3] Represents stock issuance costs originally recorded in preferred stock upon issuance of the Company’s Series I Preferred Stock that were reclassified to retained earnings on the date the Company announced its intent to redeem the outstanding shares.