US Bank 2005 Annual Report Download - page 79
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Other Information Quantitative information related to managed assets and loan sales was as follows:
At December 31 Year Ended December 31
Total Principal Principal Amount
Balance 90 Days or More Past Due (a) Average Balance Net Credit Losses
Asset Type (Dollars in Millions) 2005 2004 2005 2004 2005 2004 2005 2004
Commercial
Commercial ************************* $ 38,075 $ 35,891 $254 $311 $ 38,207 $ 35,274 $ 58 $129
Lease financing********************** 5,098 4,963 42 92 4,923 4,866 42 69
Total commercial ***************** 43,173 40,854 296 403 43,130 40,140 100 198
Commercial real estate
Commercial mortgages *************** 20,272 20,315 134 175 20,268 20,386 6 18
Construction and development ******** 8,191 7,270 23 26 7,696 6,881 (3) 9
Total commercial real estate******** 28,463 27,585 157 201 27,964 27,267 3 27
Residential mortgages ************** 20,730 15,367 115 114 18,036 14,322 36 29
Retail
Credit card************************** 7,137 6,603 139 115 6,615 6,090 278 252
Retail leasing ************************ 7,338 7,166 3 6 7,346 6,653 26 39
Other retail************************** 31,196 29,421 87 101 30,503 28,461 255 251
Total retail *********************** 45,671 43,190 229 222 44,464 41,204 559 542
Total managed loans *********** 138,037 126,996 797 940 133,594 122,933 698 796
Investment securities *************** 43,517 47,191 — — 46,740 49,452 — —
Total managed assets **************** $181,554 $174,187 $797 $940 $180,334 $172,385 $698 $796
Less
Assets sold or securitized ************* 3,980 6,391 5,126 7,235
Total assets held ************** $177,574 $167,796 $175,208 $165,150
Sold or securitized assets
Guaranteed SBA loans (b) ************ $ 231 $ 315 $ — $ — $ 274 $ 364 $ — $ —
Small business credit lines (b) ********* — 366 — 4 215 428 13 29
Investment securities ***************** 3,749 5,710 — — 4,637 6,443 — —
Total securitized assets ************ $ 3,980 $ 6,391 $ — $ 4 $ 5,126 $ 7,235 $ 13 $ 29
(a) Includes nonaccrual
(b) Reported in ‘‘commercial’’ loans
PREMISES AND EQUIPMENT
Premises and equipment at December 31 consisted of the following:
(Dollars in Millions) 2005 2004
Land***************************************************************************************************** $ 315 $ 311
Buildings and improvements ******************************************************************************** 2,313 2,288
Furniture, fixtures and equipment **************************************************************************** 2,239 2,105
Capitalized building and equipment leases ******************************************************************** 136 138
Construction in progress************************************************************************************ 45
5,007 4,847
Less accumulated depreciation and amortization*************************************************************** (3,166) (2,957)
Total************************************************************************************************** $ 1,841 $ 1,890
U.S. BANCORP 77
Note 10