10-QPeriod: Q1 FY2011

US BANCORP \DE\ Quarterly Report for Q1 Ended Mar 31, 2011

Filed May 6, 2011For Securities:USBUSB-PHUSB-PPUSB-PRUSB-PQUSB-PSUSB-PA

Summary

US Bancorp's (USB) 10-Q filing for the period ending March 30, 2011, indicates a continued focus on risk management and capital allocation. While specific financial performance metrics for the quarter are not detailed in the provided excerpts, the filing cross-references the company's Annual Report on Form 10-K for a comprehensive discussion of risk factors. Investors should review the 2010 10-K for a thorough understanding of potential headwinds impacting USB's business, financial results, and stock price. Furthermore, the filing points to the 'Capital Management' section of Part I for information regarding share repurchases in the first quarter of 2011. This suggests the company was actively managing its share count and potentially returning capital to shareholders. Investors interested in the company's capital structure and shareholder return policies should refer to this section for more granular details. The inclusion of the Ratio of Earnings to Fixed Charges exhibit also provides a metric for evaluating the company's ability to cover its fixed obligations.

Financial Highlights

36 data points
Beta

Net Income

$1.05B

EPS (Diluted)

$0.52

Total Assets

$311.46B

Cash & Equivalents

$13.80B

Free Cash Flow

$6.23B

Financial Statements
Beta
Interest Expense$648.00M
Net Income$1.05B
EPS (Basic)$0.52
EPS (Diluted)$0.52
Shares Outstanding (Basic)1.92B
Shares Outstanding (Diluted)1.93B

Key Highlights

  • 1The filing cross-references the 2010 10-K for a detailed discussion of risk factors impacting US Bancorp.
  • 2Information regarding share repurchases in Q1 2011 is available in the 'Capital Management' section of Part I.
  • 3The company appears to be actively managing its capital structure.
  • 4The Ratio of Earnings to Fixed Charges exhibit is included, offering insight into debt servicing capabilities.
  • 5No new material risk factors are detailed in this specific 10-Q excerpt; reliance is placed on the previous 10-K.
  • 6The filing confirms the period ending March 30, 2011, and was filed on May 5, 2011.

Frequently Asked Questions

Information on US Bancorp's primary risks is detailed in the company's Annual Report on Form 10-K for the year ended December 31, 2010. This 10-Q filing directs investors to that report for a discussion of these risk factors.

Yes, the filing indicates that information regarding shares repurchased by US Bancorp during the first quarter of 2011 can be found within the 'Capital Management' section of Management’s Discussion and Analysis in Part I of this report.

This exhibit provides investors with a key financial metric that measures the company's ability to cover its fixed charges (such as interest expense) with its earnings. A higher ratio generally indicates a stronger ability to meet these obligations.

Based on the provided excerpts, this 10-Q filing does not introduce new risk factors. It directs readers to the previously filed 10-K for the year ended December 31, 2010, for a discussion of existing risks.