Summary
US Bancorp (USB) filed its quarterly report for the period ending March 30, 2014, providing a glimpse into its financial standing and ongoing operations. While the filing doesn't contain extensive new financial data, it references key sections in prior reports and its consolidated financial statements for detailed information. Investors should note the cross-referencing to Legal Proceedings (Note 14) and Risk Factors from the 2013 10-K, indicating no significant new legal developments or risk factor changes during this quarter. The report also points to the 'Capital Management' section for details on share repurchases in Q1 2014, suggesting ongoing capital return initiatives. Overall, this 10-Q filing appears to be more of an update and administrative filing, directing investors to existing comprehensive disclosures rather than presenting a substantial shift in the company's reported financial performance or risk profile for the first quarter. Investors seeking detailed financial performance metrics for the quarter will need to refer to the Consolidated Financial Statements presented in Part I of the report, which are not fully detailed within the provided excerpts.
Financial Highlights
35 data points| Revenue | $4.81B |
| Interest Expense | $372.00M |
| Net Income | $1.40B |
| EPS (Basic) | $0.73 |
| EPS (Diluted) | $0.73 |
| Shares Outstanding (Basic) | 1.82B |
| Shares Outstanding (Diluted) | 1.83B |
Key Highlights
- 1The filing incorporates by reference Note 14 from the Consolidated Financial Statements for information on Legal Proceedings, indicating no new material legal developments were reported in this quarter's filing.
- 2Risk Factors are addressed by referring investors to the company's 2013 Annual Report on Form 10-K, suggesting no new significant risks have emerged.
- 3Information regarding share repurchases during the first quarter of 2014 can be found in the 'Capital Management' section of the Management's Discussion and Analysis.
- 4The report includes an exhibit detailing the Computation of Ratio of Earnings to Fixed Charges, which is a standard financial metric.
- 5The filing confirms the period ending March 30, 2014, and was filed on May 6, 2014.