Cash flow US Bancorp

Equities

USB

US9029733048

Banks

Market Closed - Nyse Other stock markets 01:30:01 14/09/2024 am IST			5-day change	1st Jan Change
44.62 ^USD	+1.76%		+0.29%	+3.10%

13/09	Keefe, Bruyette & Woods Raises Price Target on U.S. Bancorp to $49 From $46	MT
12/09	Sector Update: Financial Stocks Advance Pre-Bell Thursday	MT

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Published financial data: US BANCORP

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Interest Income On Loans	14.26B	12.23B	10.98B	13.8B	22.47B
Interest Income On Investments	3.23B	2.61B	2.51B	4.14B	7.54B
Interest Income, Total	17.49B	14.84B	13.49B	17.94B	30.01B
Interest On Deposits	2.86B	950M	320M	1.87B	8.78B
Total Interest On Borrowings	1.59B	1.06B	673M	1.34B	3.84B
Interest Expense, Total	4.44B	2.02B	993M	3.22B	12.61B
Net Interest Income	13.05B	12.82B	12.49B	14.73B	17.4B
Service Charges On Deposits	909M	677M	724M	1.3B	1.31B
Trust Income	1.67B	1.74B	1.83B	2.21B	2.46B
Credit Card Fee	1.41B	1.34B	1.51B	1.51B	1.63B
Total Mortgage Banking Activities	874M	2.06B	1.36B	527M	540M
Gain (Loss) on Sale of Assets	-	-	-	-	-
Gain (Loss) on Sale of Invest. & Securities - (Rev)	-166M	-1M	-29M	-45M	-145M
Total Other Non Interest Income	4.89B	4.41B	4.7B	3.89B	4.83B
Non Interest Income, Total	9.59B	10.22B	10.1B	9.39B	10.62B
Revenues Before Provison For Loan Losses	22.64B	23.05B	22.59B	24.12B	28.01B
Provision For Loan Losses	1.5B	3.81B	-1.17B	1.98B	2.28B
Total Revenues	21.14B	19.24B	23.76B	22.14B	25.74B
Salaries And Other Employee Benefits	7.43B	7.75B	8.52B	8.96B	10.19B
Amort. of Goodwill & Intang. Assets	168M	176M	159M	215M	636M
Occupancy Expense	729M	718M	684M	706M	770M
Selling General & Admin Expenses, Total	2.84B	2.89B	3.16B	3.3B	4.06B
Total Other Non Interest Expense	1.38B	1.66B	1.08B	1.33B	2.21B
Non Interest Expense, Total	12.55B	13.19B	13.6B	14.51B	17.86B
EBT, Excl. Unusual Items	8.59B	6.05B	10.17B	7.63B	7.87B
Total Merger & Related Restructuring Charges	-	-	-	-329M	-1.01B
EBT, Incl. Unusual Items	8.59B	6.05B	10.17B	7.3B	6.86B
Income Tax Expense	1.65B	1.07B	2.18B	1.46B	1.41B
Earnings From Continuing Operations	6.95B	4.98B	7.98B	5.84B	5.46B
Net Income to Company	6.95B	4.98B	7.98B	5.84B	5.46B
Minority Interest	-32M	-26M	-22M	-13M	-29M
Net Income - (IS)	6.91B	4.96B	7.96B	5.82B	5.43B
Preferred Dividend and Other Adjustments	331M	338M	358M	324M	378M
Net Income to Common Incl Extra Items	6.58B	4.62B	7.6B	5.5B	5.05B
Net Income to Common Excl. Extra Items	6.58B	4.62B	7.6B	5.5B	5.05B
Per Share Items
Net EPS - Basic	4.16	3.06	5.11	3.69	3.27
Basic EPS - Continuing Operations	4.16	3.06	5.11	3.69	3.27
Basic Weighted Average Shares Outstanding	1.58B	1.51B	1.49B	1.49B	1.54B
Net EPS - Diluted	4.16	3.06	5.1	3.69	3.27
Diluted EPS - Continuing Operations	4.16	3.06	5.1	3.69	3.27
Diluted Weighted Average Shares Outstanding	1.58B	1.51B	1.49B	1.49B	1.54B
Normalized Basic EPS	3.38	2.49	4.25	3.19	3.17
Normalized Diluted EPS	3.37	2.49	4.25	3.19	3.17
Dividend Per Share	1.58	1.68	1.76	1.88	1.93
Payout Ratio	39.7	57.51	36.26	52.79	60.99
American Depositary Receipts Ratio (ADR)	0.25	0.25	0.25	0.25	0.25
Supplemental Items
Effective Tax Rate - (Ratio)	19.18	17.62	21.45	20.04	20.5
Current Domestic Taxes	1.54B	1.5B	1.6B	1.77B	1.92B
Total Current Taxes	1.54B	1.5B	1.6B	1.77B	1.92B
Deferred Domestic Taxes	107M	-435M	580M	-304M	-509M
Total Deferred Taxes	107M	-435M	580M	-304M	-509M
Normalized Net Income	5.34B	3.76B	6.33B	4.76B	4.89B
Non-Cash Pension Expense	-36M	-34M	-64M	-95M	-172M
Supplemental Operating Expense Items
Stock-Based Comp., SG&A Exp. (Total)	178M	189M	207M	202M	224M
Total Stock-Based Compensation	178M	189M	207M	202M	224M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	19.2B	62.51B	28.83B	53.5B	61.14B
Investment Securities, Total	33.23B	36.88B	51.88B	43.46B	44.51B
Trading Asset Securities, Total	1.92B	4.13B	2.28B	2.44B	2.86B
Mortgage Backed Securities	95.56B	105B	127B	124B	116B
Total investments	131B	146B	182B	170B	163B
Gross Loans	296B	298B	312B	388B	374B
Allowance For Loan Losses	-4.02B	-7.31B	-5.72B	-6.94B	-7.38B
Other Adjustments to Gross Loans	-	-	-	-	-
Net Loans	292B	290B	306B	381B	366B
Gross Property Plant And Equipment	8.66B	8.62B	8.25B	8.93B	8.26B
Accumulated Depreciation	-4.95B	-5.15B	-4.95B	-5.07B	-4.64B
Net Property Plant And Equipment	3.7B	3.47B	3.3B	3.86B	3.62B
Goodwill	9.66B	9.92B	10.26B	12.37B	12.49B
Other Intangibles, Total	677M	654M	785M	3.4B	2.71B
Loans Held For Sale	5.58B	8.76B	7.78B	2.2B	2.2B
Restricted Cash	3.2B	73M	78M	45M	53M
Other Current Assets, Total	951M	1.26B	1.19B	702M	3.55B
Other Real Estate Owned And Foreclosed	137M	74M	44M	44M	45M
Other Long-Term Assets, Total	29.53B	30.42B	33.13B	47.68B	47.74B
Total Assets	495B	554B	573B	675B	663B
Liabilities
Interest Bearing Deposits	254B	289B	310B	375B	407B
Institutional Deposits	32.27B	22.24B	11.36B	12B	15.34B
Non-Interest Bearing Deposits	75.59B	118B	135B	138B	89.99B
Total Deposits	362B	430B	456B	525B	512B
Short-Term Borrowings	24.64B	13.06B	13.1B	37.36B	19.87B
Current Portion of Long-Term Debt	-	-	1.3B	-	6.66B
Current Portion of Leases	313M	308M	305M	398M	418M
Long-Term Debt	35.72B	36.95B	27.44B	34.6B	32.62B
Federal Home Loan Bank Debt - Long-Term	4.38B	4.28B	3.27B	5.05B	12.05B
Long-Term Leases	1.1B	1B	978M	1.28B	1.14B
Trust Preferred Securities (BS)	-	-	-	-	-
Other Non Current Liabilities	14.88B	14.82B	15.41B	19.9B	22.65B
Total Liabilities	443B	500B	518B	624B	608B
Preferred Stock Redeemable	5.98B	5.98B	6.37B	6.81B	6.81B
Total Preferred Equity	5.98B	5.98B	6.37B	6.81B	6.81B
Common Stock, Total	21M	21M	21M	21M	21M
Additional Paid In Capital	8.48B	8.51B	8.54B	8.71B	8.67B
Retained Earnings	63.19B	64.19B	69.2B	71.9B	74.03B
Treasury Stock	-24.44B	-25.93B	-27.27B	-25.27B	-24.13B
Comprehensive Income and Other	-1.37B	322M	-1.94B	-11.41B	-10.1B
Total Common Equity	45.87B	47.11B	48.55B	43.96B	48.5B
Minority Interest	630M	630M	469M	466M	465M
Total Equity	52.48B	53.72B	55.39B	51.23B	55.77B
Total Liabilities And Equity	495B	554B	573B	675B	663B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	1.52B	1.5B	1.48B	1.53B	1.56B
ECS Total Common Shares Outstanding	1.53B	1.51B	1.48B	1.53B	1.56B
Book Value / Share	29.9	31.26	32.72	28.71	31.13
Tangible Book Value	35.54B	36.54B	37.5B	28.18B	33.3B
Tangible Book Value Per Share	23.16	24.25	25.28	18.41	21.37
Tangible Book Value Per Share (As Reported)	-	-	-	-	22.3
Average Assets	476B	531B	557B	592B	663B
Average Loans	294B	314B	305B	337B	384B
Total Debt	66.15B	55.59B	46.4B	78.69B	72.75B
Debt Equivalent of Unfunded Proj. Benefit Obligation	991M	307M	-83M	-758M	-501M
Net Debt	45.03B	-11.05B	15.3B	22.75B	8.75B
Full Time Employees	69.65K	68.11K	68.8K	76.65K	75.46K
Number Of Offices	2.8K	2.43K	2.23K	2.49K	2.27K
Assets under Capital Lease - Gross	-	-	-	-	-

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	6.91B	4.96B	7.96B	5.82B	5.43B
Depreciation, Depletion & Amortization	334M	351M	338M	345M	382M
Amortization of Goodwill and Intangible Assets - (CF)	168M	176M	159M	215M	636M
Total Depreciation, Depletion & Amortization	502M	527M	497M	560M	1.02B
Gain (Loss) on Sale of Loans & Receivables - (CF)	-762M	-2.19B	-1.14B	387M	7M
(Gain) Loss on Sale of Investments - (CF)	-469M	-344M	-398M	-188M	119M
Provision for Credit Losses	1.5B	3.81B	-1.17B	1.98B	2.28B
Net (Increase) Decrease in Loans Originated / Sold - Operating	-3.26B	-1.98B	1.69B	5.77B	-250M
Other Operating Activities	458M	-1.06B	2.43B	6.79B	-151M
Cash from Operations	4.89B	3.72B	9.87B	21.12B	8.45B
Cash Acquisitions	-	-	-	12.26B	-330M
Investment in Marketable and Equity Securities, Total	-9.49B	-11.78B	-41.75B	25.65B	12.01B
Net (Increase) Decrease in Loans Originated / Sold - Investing	-10.78B	-3.02B	-15.74B	-25.01B	8.43B
Other Investing Activities, Total	-1.3B	-636M	3M	-5.39B	-1.18B
Cash from Investing	-21.56B	-15.44B	-57.49B	7.5B	18.92B
Short Term Debt Issued, Total	9.58B	-	30M	15.21B	-
Long-Term Debt Issued, Total	9.9B	14.5B	2.63B	8.73B	15.58B
Total Debt Issued	19.48B	14.5B	2.66B	23.94B	15.58B
Short Term Debt Repaid, Total	-	-11.96B	-	-	-16.51B
Long-Term Debt Repaid, Total	-11.12B	-14.48B	-11.43B	-6.93B	-4.08B
Total Debt Repaid	-11.12B	-26.43B	-11.43B	-6.93B	-20.59B
Issuance of Common Stock	88M	15M	43M	21M	951M
Repurchase of Common Stock	-4.52B	-1.67B	-1.56B	-69M	-62M
Issuance of Preferred Stock	-	486M	2.22B	437M	-
Repurchase of Preferred Stock	-	-	-1.25B	-1.1B	-
Common Dividends Paid	-2.44B	-2.55B	-2.58B	-2.78B	-2.97B
Preferred Dividends Paid	-302M	-300M	-308M	-299M	-341M
Common & Preferred Stock Dividends Paid	-2.74B	-2.85B	-2.89B	-3.08B	-3.31B
Net Increase (Decrease) in Deposit Accounts - (CF)	16.44B	67.85B	26.31B	-17.22B	-12.29B
Other Financing Activities, Total	-	-	-167M	-	-
Cash from Financing	17.62B	51.9B	13.94B	-3.98B	-19.72B
Net Change in Cash	952M	40.18B	-33.68B	24.64B	7.65B
Supplemental Items
Cash Interest Paid	4.4B	2.2B	1.06B	2.72B	12.28B
Cash Income Tax Paid (Refund)	941M	1.02B	535M	767M	645M
Net Debt Issued / Repaid	8.36B	-11.93B	-8.78B	17.02B	-5.01B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.44	0.95	1.42	0.94	0.82
Return On Equity %	13.34	9.39	14.64	10.95	10.2
Return on Common Equity	14.48	9.94	15.9	11.89	10.93
Shareholders Value Added	1.63B	-444M	2.38B	695M	1.15B
Margin Analysis
SG&A Margin	52.03	59.04	52.02	58.55	58.35
Net Interest Income / Total Revenues %	61.74	66.65	52.58	66.52	67.59
EBT Excl. Non-Recurring Items Margin %	40.65	31.45	42.78	34.46	30.59
Income From Continuing Operations Margin %	32.86	25.91	33.6	26.37	21.21
Net Income Margin %	32.71	25.77	33.51	26.31	21.09
Net Avail. For Common Margin %	31.14	24.02	32	24.84	19.62
Normalized Net Income Margin	25.26	19.52	26.65	21.48	19.01
Asset quality
Nonperforming Loans / Total Loans %	0.23	0.41	0.27	0.25	0.39
Nonperforming Loans / Total Assets %	0.14	0.22	0.15	0.14	0.22
Nonperforming Assets / Total Assets %	0.17	0.23	0.15	0.15	0.23
NPAs / Loans and OREO	0.28	0.44	0.28	0.26	0.4
NPAs / Equity	1.58	2.42	1.59	1.98	2.68
Allowance for Credit Losses / Net Charge-offs %	276.48	409.52	839.3	652.49	387.35
Allowance for Credit Losses / Nonperforming Loans %	580.92	597.55	686.33	713.58	509.25
Allowance for Credit Losses / Total Loans %	1.36	2.46	1.83	1.79	1.97
Net Charge-offs / Total Average Loans %	0.49	0.57	0.22	0.32	0.5
Provision for Loan Losses / Net Charge-offs %	103.44	213.1	-171.99	185.98	119.42
Earning Assets / IBL	129.42	132.51	141.17	136.05	127.1
Interest Income / Average Assets	3.68	2.79	2.42	3.03	4.52
Interest Expense / Average Assets	0.93	0.38	0.18	0.54	1.9
Net Interest Income / Average Assets	2.74	2.41	2.24	2.49	2.62
Non Interest Income / Average Assets	2.02	1.92	1.81	1.59	1.6
Non Interest Expense / Average Asset	2.64	2.48	2.44	2.45	2.69
Capital And Funding
Total Average Common Equity / Total Average Assets %	9.44	8.86	8.49	7.41	6.91
Total Average Equity / Total Average Assets %	10.82	10.12	9.68	8.54	8
Total Equity + Allowance for Loan Losses / Total Loans %	18.87	20.29	19.43	14.86	16.77
Gross Loans / Total Deposits %	81.82	69.27	68.41	73.95	72.97
Net Loans / Total Deposits %