Summary
U.S. Bancorp's (USB) second-quarter 2013 10-Q filing indicates a focus on ongoing risk management and capital stewardship. While the filing itself provides limited new financial data, it directs investors to previously disclosed information regarding legal proceedings and risk factors, suggesting no significant new developments in these areas during the quarter. The company also references its capital management strategies, specifically highlighting share repurchases undertaken in the second quarter, signaling a commitment to returning value to shareholders.
Financial Highlights
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Financial Statements
Beta
| Revenue | $4.95B |
| Interest Expense | $422.00M |
| Net Income | $1.48B |
| EPS (Basic) | $0.76 |
| EPS (Diluted) | $0.76 |
| Shares Outstanding (Basic) | 1.84B |
| Shares Outstanding (Diluted) | 1.85B |
Key Highlights
- 1No new material legal proceedings were disclosed; reference is made to existing disclosures in the prior 10-K and consolidated financial statements.
- 2Risk factors remain consistent with those detailed in the 2012 Annual Report on Form 10-K.
- 3The company actively repurchased shares during the second quarter of 2013, as detailed in the Capital Management section.
- 4The filing incorporates by reference previously reported information, emphasizing continuity in financial reporting and risk assessment.
- 5Key financial ratios, such as the Ratio of Earnings to Fixed Charges, are included as exhibits, providing a snapshot of financial leverage.
Frequently Asked Questions
The filing indicates no new material legal proceedings have arisen. Investors are referred to Note 14 in the consolidated financial statements for details on existing legal matters, suggesting these are being managed within previously established parameters.
The filing states that the risk factors remain consistent with those detailed in the company's 2012 Annual Report on Form 10-K. Investors should refer to that document for a comprehensive understanding of potential risks.
Yes, the company confirms it repurchased shares during the second quarter of 2013. Further details on these repurchases can be found within the 'Capital Management' section of the Management's Discussion and Analysis.
While this 10-Q focuses on procedural items and references to other filings, the exhibit section includes the 'Computation of Ratio of Earnings to Fixed Charges' as an example of specific financial metrics provided for the period.