v3.25.2
Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest Income        
Loans $ 5,548 $ 5,761 $ 11,081 $ 11,473
Loans held for sale 59 41 87 78
Investment securities 1,355 1,294 2,663 2,469
Other interest income 642 889 1,289 1,729
Total interest income 7,604 7,985 15,120 15,749
Interest Expense        
Deposits 2,541 3,028 5,052 5,912
Short-term borrowings 291 296 540 566
Long-term debt 721 638 1,385 1,263
Total interest expense 3,553 3,962 6,977 7,741
Net interest income 4,051 4,023 8,143 8,008
Provision for credit losses 501 568 1,038 1,121
Net interest income after provision for credit losses 3,550 3,455 7,105 6,887
Noninterest Income        
Card revenue 442 428 840 820
Corporate payment products revenue 192 195 381 379
Merchant processing services 474 454 889 855
Trust and investment management fees 703 649 1,383 1,290
Service charges 336 322 651 637
Capital markets revenue 390 374 772 762
Mortgage banking revenue 162 190 335 356
Investment products fees 90 82 177 159
Securities gains (losses), net (57) (36) (57) (34)
Other 192 157 389 291
Total noninterest income 2,924 2,815 5,760 5,515
Noninterest Expense        
Compensation and employee benefits 2,600 2,619 5,237 5,310
Net occupancy and equipment 301 316 607 612
Professional services 109 116 207 226
Marketing and business development 161 158 343 294
Technology and communications 534 509 1,067 1,016
Other intangibles 124 142 247 288
Merger and integration charges 0 0 0 155
Other 352 354 705 772
Total noninterest expense 4,181 4,214 8,413 8,673
Income before income taxes 2,293 2,056 4,452 3,729
Applicable income taxes 472 445 915 792
Net income 1,821 1,611 3,537 2,937
Net (income) loss attributable to noncontrolling interests (6) (8) (13) (15)
Net income attributable to U.S. Bancorp 1,815 1,603 3,524 2,922
Net income applicable to U.S. Bancorp common shareholders, basic 1,733 1,518 3,336 2,727
Net income applicable to U.S. Bancorp common shareholders, diluted $ 1,733 $ 1,518 $ 3,336 $ 2,727
Earnings per common share (in dollars per share) $ 1.11 $ 0.97 $ 2.14 $ 1.75
Diluted earnings per common share (in dollars per share) $ 1.11 $ 0.97 $ 2.14 $ 1.75
Average common shares outstanding (in shares) 1,559 1,560 1,559 1,560
Average diluted common shares outstanding (in shares) 1,559 1,561 1,560 1,560