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| 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.