* Taxable-equivalent basis.
(a) See Non-GAAP Financial Measures beginning on page 66 of our 2016 Annual Report.
(b) December 31, 2016, 2015 and 2014, calculated under the Basel III transitional standardized approach; all other periods calculated under Basel I.
Years ended December 31
(Dollars and Shares in Millions, Except Per Share Data)
|Net interest income||$11,528||$11,001||4.8%|
|Taxable-equivalent adjustment (a)||203||213||(4.7)|
|Net interest income (taxable-equivalent basis) (c)||11,731||11,214||4.6|
|Total net revenue||21,308||20,306||4.9|
|Provision for credit losses||1,324||1,132||17.0|
|Income taxes and taxable-equivalent adjustment||2,364||2,310||2.3|
|Net (income) loss attributable to noncontrolling interests||(56)||(54)||(3.7)|
|Net income attributable to U.S. Bancorp||$5,888||$5,879||.2|
|Net income applicable to U.S. Bancorp common shareholders||$5,589||$5,608||(.3)|
|Per Common Share||2016||2015||
|Earnings per share||$3.25||$3.18||2.2%|
|Diluted earnings per share||3.24||3.16||2.5|
|Dividends declared per share||1.070||1.010||5.9|
|Book value per share||24.63||23.28||5.8|
|Market value per share||51.37||42.67||20.4|
|Average common shares outstanding||1,718||1,764||(2.6)|
|Average diluted common shares outstanding||1,724||1,772||(2.7)|
|Return on average assets||1.36%||1.44%|
|Return on average common equity||13.4||14.0|
|Net interest margin (taxable-equivalent basis) (a)||3.01||3.05|
|Efficiency ratio (a)||54.9||53.8|
|Investment securities (b)||107,922||103,161||4.6|
|Total U.S. Bancorp shareholders' equity||47,339||44,813||5.6|
|Period End Balances||2016||2015||
|Allowance for credit losses||4,357||4,306||1.2|
|Total U.S. Bancorp shareholders' equity||47,298||46,131||2.5|
|Basel III transitional standardized approach:|
|Common equity tier 1 capital||9.4%||9.6%|
|Tier 1 capital||11.0||11.3|
|Total risk-based capital||13.2||13.3|
|Common equity tier 1 capital to risk-weighted assets for the Basel III transitional advanced approaches||12.2||12.5|
|Common equity tier 1 capital to risk-weighted assets estimated for the Basel III fully implemented standardized approach (c)||9.1||9.1|
|Common equity tier 1 capital to risk-weighted assets estimated for the Basel III fully implemented advanced approaches (c)||11.7||11.9|
|Tangible common equity to tangible assets (c)||7.5||7.6|
|Tangible common equity to risk-weighted assets (c)||9.2||9.2|
(a) Utilizes a tax rate of 35 percent for those assets and liabilities whose income or expense is not included for federal income tax purposes.
(b) Excludes unrealized gains and losses on available-for-sale investment securities and any premiums or discounts recorded related to the transfer of investment securities at fair value from available-for-sale to held-to-maturity.
(c) See Non-GAAP Financial Measures beginning on page 66 of our 2016 Annual Report.