Year Ended December 31 (Dollars and Shares in Millions, Except Per Share Data) | 2013 | 2012 | 2011 | 2013 v 2012 | 2012 v 2011 | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total net revenue (taxable-equivalent basis) | $ | 19,602 | $ | 20,288 | $ | 19,108 | (3.4) | % | 6.2 | % | |||
Noninterest expense | 10,274 | 10,456 | 9,911 | (1.7) | 5.5 | ||||||||
Provision for credit losses | 1,340 | 1,882 | 2,343 | (28.8) | (19.7) | ||||||||
Income taxes and taxable-equivalent adjustments | 2,256 | 2,460 | 2,066 | (8.3) | 19.1 | ||||||||
Net income | 5,732 | 5,490 | 4,788 | 4.4 | 14.7 | ||||||||
Net (income) loss attributable to noncontrolling interests | 104 | 157 | 84 | (33.8) | 86.9 | ||||||||
Net income attributable to U.S. Bancorp | $ | 5,836 | $ | 5,647 | $ | 4,872 | 3.3 | 15.9 | |||||
Net income applicable to U.S. Bancorp common shareholders | $ |
5,552 |
$ |
5,383 |
$ |
4,721 |
3.1 |
14.0 |
|||||
Per Common Share | |||||||||||||
Earnings per share | $ | 3.02 | $ | 2.85 | $ | 2.47 | 6.0 | % | 15.4 | % | |||
Diluted earnings per share | $ | 3.00 | $ | 2.84 | $ | 2.46 | 5.6 | 15.4 | |||||
Dividends declared per share | .885 | .780 | .500 | 13.5 | 56.0 | ||||||||
Book value per share | 19.92 | 18.31 | 16.43 | 8.8 | 11.4 | ||||||||
Market value per share | 40.40 | 31.94 | 27.05 | 26.5 | 18.1 | ||||||||
Average common shares outstanding | 1,839 | 1,887 | 1,914 | (2.5) | (1.4) | ||||||||
Average diluted common shares outstanding | 1,849 | 1,896 | 1,923 | (2.5) | (1.4) | ||||||||
Financial Ratios | |||||||||||||
Return on average assets | 1.65 | % | 1.65 | % | 1.53 | % | |||||||
Return on average common equity | 15.8 | 16.2 | 15.8 | ||||||||||
Net interest margin (taxable-equivalent basis) | 3.44 | 3.58 | 3.65 | ||||||||||
Efficiency ratio(a) | 52.4 | 51.5 | 51.8 | ||||||||||
Average Balances | |||||||||||||
Loans | $ | 227,474 | $ | 215,374 | $ | 201,427 | 5.6 | % | 6.9 | % | |||
Investment securities | 75,046 | 72,501 | 63,645 | 3.5 | 13.9 | ||||||||
Earning assets | 315,139 | 306,270 | 283,290 | 2.9 | 8.1 | ||||||||
Assets | 352,680 | 342,849 | 318,264 | 2.9 | 7.7 | ||||||||
Deposits | 250,457 | 235,710 | 213,159 | 6.3 | 10.6 | ||||||||
Total U.S. Bancorp shareholders' equity | 39,917 | 37,611 | 32,200 | 6.1 | 16.8 | ||||||||
Period End Balances | |||||||||||||
Loans | $ | 235,235 | $ | 223,329 | $ | 209,835 | 5.3 | % | 6.4 | % | |||
Allowance for credit losses | 4,537 | 4,733 | 5,014 | (4.1) | (5.6) | ||||||||
Investment securities | 79,855 | 74,528 | 70,814 | 7.1 | 5.2 | ||||||||
Assets | 364,021 | 353,855 | 340,122 | 2.9 | 4.0 | ||||||||
Deposits | 262,123 | 249,183 | 230,885 | 5.2 | 7.9 | ||||||||
Total U.S. Bancorp shareholders' equity | 41,113 | 38,998 | 33,978 | 5.4 | 14.8 | ||||||||
Capital ratios | |||||||||||||
Tier 1 capital | 11.2 | % | 10.8 | % | 10.8 | % | |||||||
Total risk-based capital | 13.2 | 13.1 | 13.3 | ||||||||||
Leverage | 9.6 | 9.2 | 9.1 | ||||||||||
Tangible common equity to tangible assets(b) | 7.7 | 7.2 | 6.6 | ||||||||||
Tangible common equity to risk-weighted assets using Basel I definition(b) | 9.1 | 8.6 | 8.1 | ||||||||||
Tier 1 common equity to risk-weighted assets using Basel I definition(b) | 9.4 | 9.0 | 8.6 | ||||||||||
Common equity tier 1 to risk-weighted assets estimated using final rules for the Basel III standardized approach(b) | 8.8 | – | – | ||||||||||
Common equity tier 1 to risk-weighted assets approximated using proposed rules for the Basel III standardized approach released June 2012(b) | – | 8.1 | – | ||||||||||
Common equity tier 1 to risk-weighted assets approximated using proposed rules for the Basel III standardized approach released prior to June 2012(b) | – | – | 8.2 | ||||||||||
(a) Computed as noninterest expense divided by the sum of net interest income on a taxable-equivalent basis and noninterest income excluding net securities gains (losses). (b) See Non-GAAP Financial Measures beginning on page 65. |