10-KPeriod: FY2007

US BANCORP \DE\ Annual Report, Year Ended Dec 31, 2007

Filed February 25, 2008For Securities:USBUSB-PHUSB-PPUSB-PRUSB-PQUSB-PSUSB-PA

Summary

US Bancorp (USB) filed its 2007 10-K on February 25, 2008, presenting a comprehensive overview of its financial performance and strategic positioning. The report covers operations through December 30, 2007, providing investors with insights into the company's business segments, risk factors, financial condition, and results of operations. Investors should pay close attention to the Management's Discussion and Analysis (MD&A) and the Financial Statements for a detailed understanding of the company's performance and outlook. The filing occurs during a period of significant economic uncertainty, particularly within the financial sector. While specific details are within the MD&A and financial statements, investors should consider the broader economic environment of 2007, including housing market concerns and credit market stress, as these factors likely influenced USB's performance and strategic decisions. The report's structure follows standard SEC reporting, with essential information on business operations, risks, financial data, and corporate governance detailed across its various sections.

Financial Highlights

24 data points
Beta

Net Income

$4.32B

EPS (Diluted)

$2.42

Cash & Equivalents

$8.88B

Free Cash Flow

$2.90B

Financial Statements
Beta
Interest Expense$6.45B
Net Income$4.32B
EPS (Basic)$2.45
EPS (Diluted)$2.42
Shares Outstanding (Basic)1.74B
Shares Outstanding (Diluted)1.76B

Key Highlights

  • 1The 10-K provides a full-year view of US Bancorp's operations for the fiscal year ending December 30, 2007.
  • 2Key sections for investors include Item 7 (Management's Discussion and Analysis) and Item 8 (Financial Statements) for detailed performance and condition insights.
  • 3The filing date of February 25, 2008, places this report in the context of the unfolding global financial crisis.
  • 4Risk factors (Item 1A) are crucial for understanding potential headwinds and challenges facing the company.
  • 5Selected Financial Data (Item 6) offers a historical perspective on key financial metrics.
  • 6Information on executive compensation (Item 11) and corporate governance (Item 10) is provided, relevant for evaluating management and oversight.
  • 7The report includes standard sections on business overview, legal proceedings, market information, and internal controls.

Frequently Asked Questions

US Bancorp is a diversified financial services holding company. Its primary businesses include commercial banking, trust services, investment management, and payment services, serving both retail and commercial clients across the United States.

While specific risks are detailed in Item 1A, common risks for a bank of this size and nature include credit risk (loan defaults), interest rate risk (impact of changing rates on profitability), liquidity risk (ability to meet short-term obligations), operational risk (failures in systems or processes), and regulatory risk (changes in laws and regulations). Given the 2007 filing date, risks related to the subprime mortgage crisis and general economic downturn would be of significant concern.

Key financial performance metrics for 2007 can be found in Item 6 (Selected Financial Data) for a historical overview, and more comprehensively in Item 8 (Financial Statements and Supplementary Data), which includes the Consolidated Statements of Operations, Balance Sheets, and Cash Flows, along with accompanying notes. Item 7 (Management's Discussion and Analysis of Financial Condition and Results of Operations) provides management's analysis and narrative explanation of these results.

Item 3 of the filing typically discloses material legal proceedings. Investors should review this section for any ongoing litigation or regulatory investigations that could materially impact the company's financial condition or operations. Specific details are not summarized here but are critical to examine within the full report.