v3.26.1
Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Interest Income        
Loans $ 5,728 $ 5,548 $ 11,254 $ 11,081
Loans held for sale 43 59 78 87
Investment securities 1,344 1,355 2,647 2,663
Other interest income 483 642 1,026 1,289
Total interest income 7,598 7,604 15,005 15,120
Interest Expense        
Deposits 2,330 2,541 4,614 5,052
Short-term borrowings 249 291 463 540
Long-term debt 658 721 1,304 1,385
Total interest expense 3,237 3,553 6,381 6,977
Net interest income 4,361 4,051 8,624 8,143
Provision for credit losses 538 501 1,114 1,038
Net interest income after provision for credit losses 3,823 3,550 7,510 7,105
Noninterest Income        
Card revenue 435 413 826 787
Corporate payment and treasury management revenue 440 421 848 821
Merchant processing services 485 474 921 889
Trust and investment management fees 785 703 1,530 1,383
Lending and deposit-related fees 308 277 602 543
Capital markets revenue 512 315 889 607
Mortgage banking revenue 169 162 330 335
Investment products fees 102 90 199 177
Securities gains (losses), net (49) (57) (84) (57)
Other 138 126 261 275
Total noninterest income 3,325 2,924 6,322 5,760
Noninterest Expense        
Compensation and employee benefits 2,685 2,600 5,313 5,237
Net occupancy and equipment 303 301 607 607
Professional services 112 109 204 207
Marketing and business development 216 161 433 343
Technology and communications 601 534 1,174 1,067
Other intangibles 114 124 224 247
Other 397 352 738 705
Total noninterest expense 4,428 4,181 8,693 8,413
Income before income taxes 2,720 2,293 5,139 4,452
Applicable income taxes 537 472 1,006 915
Net income 2,183 1,821 4,133 3,537
Net (income) loss attributable to noncontrolling interests (6) (6) (11) (13)
Net income attributable to U.S. Bancorp 2,177 1,815 4,122 3,524
Net income applicable to U.S. Bancorp common shareholders, basic 2,098 1,733 3,939 3,336
Net income applicable to U.S. Bancorp common shareholders, diluted $ 2,098 $ 1,733 $ 3,939 $ 3,336
Earnings per common share (in dollars per share) $ 1.35 $ 1.11 $ 2.53 $ 2.14
Diluted earnings per common share (in dollars per share) $ 1.35 $ 1.11 $ 2.53 $ 2.14
Average common shares outstanding (in shares) 1,554 1,559 1,554 1,559
Average diluted common shares outstanding (in shares) 1,555 1,559 1,555 1,560