US Bank 2003 Annual Report Download - page 64

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U.S. Bancorp
Consolidated Balance Sheet
At December 31 (Dollars in Millions) 2003 2002
Assets
Cash and due from banks ****************************************************************************** $ 8,630 $ 10,758
Investment securities
Held-to-maturity (fair value $161 and $240, respectively) ************************************************ 152 233
Available-for-sale *********************************************************************************** 43,182 28,255
Loans held for sale ************************************************************************************ 1,433 4,159
Loans
Commercial**************************************************************************************** 38,526 41,944
Commercial real estate****************************************************************************** 27,242 26,867
Residential mortgages ****************************************************************************** 13,457 9,746
Retail ********************************************************************************************* 39,010 37,694
Total loans ************************************************************************************* 118,235 116,251
Less allowance for credit losses *************************************************************** (2,369) (2,422)
Net loans *********************************************************************************** 115,866 113,829
Premises and equipment ******************************************************************************* 1,957 1,697
Customers’ liability on acceptances ********************************************************************** 121 140
Goodwill ********************************************************************************************** 6,025 6,325
Other intangible assets ********************************************************************************* 2,124 2,321
Other assets ****************************************************************************************** 9,796 12,310
Total assets ************************************************************************************ $189,286 $180,027
Liabilities and Shareholders’ Equity
Deposits
Noninterest-bearing ********************************************************************************* $ 32,470 $ 35,106
Interest-bearing ************************************************************************************ 74,749 68,214
Time deposits greater than $100,000 ***************************************************************** 11,833 12,214
Total deposits *********************************************************************************** 119,052 115,534
Short-term borrowings********************************************************************************** 10,850 7,806
Long-term debt **************************************************************************************** 31,215 28,588
Company-obligated mandatorily redeemable preferred securities of subsidiary trusts holding solely the junior
subordinated debentures of the parent company ******************************************************* 2,601 2,994
Acceptances outstanding ******************************************************************************* 121 140
Other liabilities **************************************************************************************** 6,205 6,529
Total liabilities *********************************************************************************** 170,044 161,591
Shareholders’ equity
Common stock, par value $0.01 a share — authorized: 4,000,000,000 shares
issued: 2003 — 1,972,643,007 shares; 2002 — 1,972,643,060 shares ********************************* 20 20
Capital surplus ************************************************************************************* 5,851 5,799
Retained earnings ********************************************************************************** 14,508 13,105
Less cost of common stock in treasury: 2003 — 49,722,856 shares; 2002 — 55,686,500 shares************* (1,205) (1,272)
Other comprehensive income ************************************************************************ 68 784
Total shareholders’ equity ************************************************************************ 19,242 18,436
Total liabilities and shareholders’ equity ************************************************************ $189,286 $180,027
See Notes to Consolidated Financial Statements.
62 U.S. Bancorp