10-QPeriod: Q1 FY2016

US BANCORP \DE\ Quarterly Report for Q1 Ended Mar 31, 2016

Filed May 6, 2016For Securities:USBUSB-PHUSB-PPUSB-PRUSB-PQUSB-PSUSB-PA

Summary

US Bancorp (USB) filed its quarterly report on Form 10-Q for the period ending March 31, 2016. This filing primarily incorporates information by reference from the previous 10-K and other sections of the current 10-Q, such as legal proceedings, risk factors, and capital management. For investors, the key provided financial metric is the Ratio of Earnings to Fixed Charges for the three months ended March 31, 2016. The company reported a strong ability to cover its fixed charges. The ratio of earnings to fixed charges, both excluding and including interest on deposits, stands at a healthy 7.90 and 5.58, respectively. This indicates robust earnings relative to the company's financial obligations, suggesting a stable financial footing from this perspective.

Financial Highlights

34 data points
Beta

Revenue

$5.04B

Net Income

$1.39B

27.5% Net Margin

EPS (Diluted)

$0.76

Total Assets

$428.64B

Free Cash Flow

$1.26B

Financial Statements
Beta
Revenue$5.04B
Interest Expense$386.00M
Net Income$1.39B
EPS (Basic)$0.77
EPS (Diluted)$0.76
Shares Outstanding (Basic)1.74B
Shares Outstanding (Diluted)1.74B

Key Highlights

  • 1The filing is largely a reference document, incorporating information from prior filings and other sections of the current report.
  • 2Key financial data provided is the Computation of Ratio of Earnings to Fixed Charges for the three months ended March 31, 2016.
  • 3The Ratio of Earnings to Fixed Charges (excluding interest on deposits) was 7.90.
  • 4The Ratio of Earnings to Fixed Charges (including interest on deposits) was 5.58.
  • 5Both ratios indicate a strong capacity to meet fixed obligations from earnings.
  • 6The filing includes certifications from the CEO and CFO, as required by Sarbanes-Oxley regulations.
  • 7XBRL tagged financial statements are provided as an exhibit.

Frequently Asked Questions

The most significant financial metric explicitly detailed in this filing for investors is the 'Computation of Ratio of Earnings to Fixed Charges' for the three months ended March 31, 2016. This ratio demonstrates the company's ability to cover its fixed financial obligations with its earnings.

Based on the provided data, US Bancorp shows a strong ability to cover its fixed charges. The ratio of earnings to fixed charges was 7.90 when excluding interest on deposits and 5.58 when including interest on deposits. Both figures suggest that the company's earnings are substantially higher than its fixed charges.

No, this specific 10-Q filing primarily references information from previous filings (like the 2015 10-K for risk factors and legal proceedings) and other sections within the current report. It does not provide new, detailed operational or segment performance data beyond the computation of the earnings to fixed charges ratio.

This filing includes Exhibit 12 (Computation of Ratio of Earnings to Fixed Charges), Exhibit 31.1 and 31.2 (CEO and CFO certifications), Exhibit 32 (SOX certifications), and Exhibit 101 (XBRL tagged financial statements).