Early Access

10-QPeriod: Q3 FY2014

US BANCORP \DE\ Quarterly Report for Q3 Ended Sep 30, 2014

Filed November 6, 2014For Securities:USBUSB-PHUSB-PPUSB-PRUSB-PQUSB-PSUSB-PA

Summary

US BancORP's (USB) 10-Q filing for the period ending September 29, 2014, provides investors with a snapshot of the company's financial position and operational highlights. The filing indicates solid performance with a strong ratio of earnings to fixed charges, demonstrating the company's ability to cover its interest obligations comfortably. Key information for investors revolves around the company's profitability and financial stability as presented in the exhibits and referenced sections of the report. While the provided excerpt primarily details exhibits and procedural statements, it points to substantive financial data within the full report, including legal proceedings and risk factors. Investors should pay close attention to the referenced sections for a comprehensive understanding of potential risks and any ongoing legal matters that could impact the company's future performance. The exhibit on the Ratio of Earnings to Fixed Charges is particularly noteworthy, offering a quantitative measure of financial health.

Financial Highlights

36 data points
Beta

Revenue

$4.99B

Net Income

$1.47B

0.3% Net Margin

EPS (Diluted)

$0.78

Total Assets

$391.28B

Free Cash Flow

$582.00M

Financial Statements
Beta
Revenue$4.99B
Interest Expense$365.00M
Net Income$1.47B
EPS (Basic)$0.78
EPS (Diluted)$0.78
Shares Outstanding (Basic)1.80B
Shares Outstanding (Diluted)1.81B

Key Highlights

  • 1The company reported a Net Income Attributable to U.S. Bancorp of $1.471 billion for the three months ended September 30, 2014, and $4.363 billion for the nine months ended September 30, 2014.
  • 2The Ratio of Earnings to Fixed Charges, excluding interest on deposits, was a robust 8.17 for the three-month period and 8.13 for the nine-month period, indicating strong coverage.
  • 3The Ratio of Earnings to Fixed Charges, including interest on deposits, was 6.07 for the three-month period and 6.03 for the nine-month period, still signifying healthy financial leverage.
  • 4The filing incorporates by reference detailed financial statements and notes from Part I, Item 1, which include information on Legal Proceedings.
  • 5Risk Factors are detailed in the company's Annual Report on Form 10-K for the year ended December 31, 2013, and are relevant to understanding potential headwinds.
  • 6Information regarding share repurchases during the third quarter of 2014 can be found in the 'Capital Management' section of Part I.
  • 7The report includes standard certifications from the CEO and CFO, affirming the accuracy of the financial disclosures.

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