US Bank 2011 Annual Report Download - page 61

Occupancy costs are allocated based on utilization of facilities
by the lines of business. Generally, operating losses are
charged to the line of business when the loss event is realized
in a manner similar to a loan charge-off. Noninterest expenses
incurred by centrally managed operations or business lines
that directly support another business line’s operations are
charged to the applicable business line based on its utilization
of those services, primarily measured by the volume of
customer activities, number of employees or other relevant
factors. These allocated expenses are reported as net shared
services expense within noninterest expense. Certain activities
that do not directly support the operations of the lines of
business or for which the lines of business are not considered
financially accountable in evaluating their performance are
not charged to the lines of business. The income or expenses
associated with these corporate activities is reported within
the Treasury and Corporate Support line of business. Income
taxes are assessed to each line of business at a standard tax
rate with the residual tax expense or benefit to arrive at the
consolidated effective tax rate included in Treasury and
Corporate Support.
Designations, assignments and allocations change from
time to time as management systems are enhanced, methods
of evaluating performance or product lines change or business
segments are realigned to better respond to the Company’s
diverse customer base. During 2011, certain organization and
methodology changes were made and, accordingly, 2010
results were restated and presented on a comparable basis.
Wholesale Banking and Commercial Real Estate Wholesale
Banking and Commercial Real Estate offers lending,
equipment finance and small-ticket leasing, depository,
Wealth Management and
Securities Services
Payment
Services
Treasury and
Corporate Support
Consolidated
Company
2011 2010
Percent
Change 2011 2010
Percent
Change 2011 2010
Percent
Change 2011 2010
Percent
Change
$ 358 $ 293 22.2% $ 1,350 $ 1,339 .8% $ 1,913 $ 1,741 9.9% $ 10,348 $ 9,788 5.7%
1,050 1,110 (5.4) 3,247 3,150 3.1 514 293 75.4 8,791 8,438 4.2
– – – – – – (31) (77) 59.7 (31) (78) 60.3
1,408 1,403 .4 4,597 4,489 2.4 2,396 1,957 22.4 19,108 18,148 5.3
1,079 984 9.7 1,763 1,686 4.6 932 849 9.8 9,612 9,016 6.6
39 53 (26.4) 172 201 (14.4) – 1 * 299 367 (18.5)
1,118 1,037 7.8 1,935 1,887 2.5 932 850 9.6 9,911 9,383 5.6
290 366 (20.8) 2,662 2,602 2.3 1,464 1,107 32.2 9,197 8,765 4.9
3 17 (82.4) 507 1,335 (62.0) 14 54 (74.1) 2,343 4,356 (46.2)
287 349 (17.8) 2,155 1,267 70.1 1,450 1,053 37.7 6,854 4,409 55.5
103 126 (18.3) 787 462 70.3 98 (76) * 2,066 1,144 80.6
184 223 (17.5) 1,368 805 69.9 1,352 1,129 19.8 4,788 3,265 46.6
– – – (40) (29) (37.9) 121 82 47.6 84 52 61.5
$ 184 $ 223 (17.5) $ 1,328 $ 776 71.1 $ 1,473 $ 1,211 21.6 $ 4,872 $ 3,317 46.9
$ 1,046 $ 1,035 1.1% $ 5,640 $ 5,212 8.2% $ 105 $ 180 (41.7)% $ 51,616 $47,028 9.8%
579 571 1.4 – – – 194 282 (31.2) 35,514 34,269 3.6
389 368 5.7 – – – 10 14 (28.6) 33,711 27,704 21.7
– – – 16,084 16,400 (1.9) – 3 * 16,084 16,403 (1.9)
1,565 1,601 (2.2) 898 1,004 (10.6) 1 11 (90.9) 48,199 47,686 1.1
3,579 3,575 .1 22,622 22,616 – 310 490 (36.7) 185,124 173,090 7.0
12 14 (14.3) 5 5 – 6,397 8,397 (23.8) 16,303 19,932 (18.2)
3,591 3,589 .1 22,627 22,621 – 6,707 8,887 (24.5) 201,427 193,022 4.4
1,463 1,516 (3.5) 2,362 2,347 .6 – – – 8,949 9,009 (.7)
184 201 (8.5) 792 944 (16.1) 5 7 (28.6) 3,075 3,127 (1.7)
5,990 5,802 3.2 27,936 27,308 2.3 95,915 75,211 27.5 318,264 285,861 11.3
9,739 5,489 77.4 673 634 6.2 369 212 74.1 53,856 40,162 34.1
3,249 2,704 20.2 320 119 * 2 14 (85.7) 42,827 40,184 6.6
21,687 12,601 72.1 30 23 30.4 181 224 (19.2) 71,773 60,582 18.5
5,569 5,960 (6.6) – 1 * 186 403 (53.8) 44,703 43,793 2.1
40,244 26,754 50.4 1,023 777 31.7 738 853 (13.5) 213,159 184,721 15.4
2,079 2,107 (1.3) 5,280 5,310 (.6) 9,824 6,640 48.0 32,200 28,049 14.8
U.S. BANCORP 59