U.S. Bank U.S. Bancorp 2001 Online Annual Report and Form 10-K

Five Star Service Guaranteed
Letter to Shareholders
Changing Banking Forever
Financial Information
Financial Highlights
Financial Summary
About U.S. Bancorp

Graphs of Selected Financial Highlights

> Forward Looking Statements

Net Income Diluted Earnings Per Common Share Dividends Declared Per Common Share


Return on Average Assets Return on Average Common Equity Dividend Payout Ratio


Net Interest Margin Efficiency Ratio Banking Efficiency Ratio


Average Assets Average Shareholders' Equity Average Equity to Average Assets


(a) The Company analyzes its performance on a net income basis in accordance with accounting principles generally accepted in the United States, as well as on an operating basis before merger and restructuring-related items referred to as "operating earnings." Operating earnings are presented as supplemental information to enhance the reader's understanding of, and highlight trends in, the Company's financial results excluding the impact of merger and restructuring-related items of specific business acquisitions and restructuring activities. Operating earnings should not be viewed as a substitute for net income and earnings per share as determined in accordance with accounting principles generally accepted in the United States. Merger and restructuring-related items excluded from net income to derive operating earnings may be significant and may not be comparable to other companies.
(b) Dividends per share have not been restated for the 2001 merger of Firstar and the former U.S. Bancorp ("USBM").
(c) Without investment banking and brokerage activity.



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