US Bank 2002 Annual Report Download - page 62

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industry or market sector conditions. In determining the
reasonableness of cash flow estimates, the Company reviews
historical performance of the underlying asset or similar
assets in an effort to improve assumptions utilized in its
estimates. In assessing the fair value of reportable operating
segments, the Company may consider other information to
validate the reasonableness of its valuations including public
market comparables, multiples of recent mergers and
acquisitions of similar businesses and third-party
assessments. Refer to Note 12 of the Notes to Consolidated
Financial Statements for additional information regarding
intangible assets.
CONTROLS AND PROCEDURES
Under the supervision and with the participation of the
Company’s management, including its principal executive
officer and principal financial officer, the Company has
evaluated the effectiveness of the design and operation of its
disclosure controls and procedures (as defined in Rule 15d-
14(c) under the Securities Exchange Act of 1934) as of a
date within 90 days prior to the filing date of this report.
Based upon this evaluation, the principal executive officer
and principal financial officer have concluded that, as of
such date, the Company’s disclosure controls and
procedures were effective in making them aware on a timely
basis of the material information relating to the Company
required to be included in the Company’s periodic filings
with the Securities and Exchange Commission.
There were no significant changes made in the
Company’s internal controls during the period covered by
this report or, to the Company’s knowledge, in other
factors that could significantly affect these controls
subsequent to the date of their evaluation.
60 U.S. Bancorp