US Bank 2013 Annual Report Download - page 68

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The following table shows the Company’s calculation of these Non-GAAP financial measures:
At December 31 (Dollars in Millions) 2013 2012 2011 2010 2009
Total equity ............................................................................... $ 41,807 $ 40,267 $ 34,971 $ 30,322 $ 26,661
Preferred stock ........................................................................... (4,756) (4,769) (2,606) (1,930) (1,500)
Noncontrolling interests .................................................................. (694) (1,269) (993) (803) (698)
Goodwill (net of deferred tax liability) .................................................... (8,343) (8,351) (8,239) (8,337) (8,482)
Intangible assets, other than mortgage servicing rights .................................. (849) (1,006) (1,217) (1,376) (1,657)
Tangible common equity (a) ........................................................... 27,165 24,872 21,916 17,876 14,324
Tier 1 capital, determined in accordance with prescribed regulatory requirements
using Basel I definition ................................................................. 33,386 31,203 29,173 25,947 22,610
Trust preferred securities ................................................................. – – (2,675) (3,949) (4,524)
Preferred stock ........................................................................... (4,756) (4,769) (2,606) (1,930) (1,500)
Noncontrolling interests, less preferred stock not eligible for Tier 1 capital .............. (688) (685) (687) (692) (692)
Tier 1 common equity using Basel I definition (b) ...................................... 27,942 25,749 23,205 19,376 15,894
Tangible common equity (as calculated above) ......................................... 27,165
Adjustments (1) .......................................................................... 224
Common equity tier 1 estimated using final rules for the Basel III standardized
approach (c) ........................................................................ 27,389
Tangible common equity (as calculated above) ......................................... 24,872
Adjustments (1)(2) ........................................................................ 126
Common equity tier 1 approximated using proposed rules for the Basel III
standardized approach released June 2012 (d) .................................... 24,998
Tangible common equity (as calculated above) ......................................... 21,916 17,876
Adjustments (3) .......................................................................... 450 381
Common equity tier 1 approximated using proposed rules for the Basel III
standardized approach released prior to June 2012 (e) ............................ 22,366 18,257
Total assets............................................................................... 364,021 353,855 340,122 307,786 281,176
Goodwill (net of deferred tax liability) .................................................... (8,343) (8,351) (8,239) (8,337) (8,482)
Intangible assets, other than mortgage servicing rights .................................. (849) (1,006) (1,217) (1,376) (1,657)
Tangible assets (f) ..................................................................... 354,829 344,498 330,666 298,073 271,037
Risk-weighted assets, determined in accordance with prescribed regulatory
requirements using Basel I definition (g) .............................................. 297,919 287,611 271,333 247,619 235,233
Risk-weighted assets, determined in accordance with prescribed regulatory
requirements using Basel I definition .................................................. 297,919
Adjustments (4) .......................................................................... 13,712
Risk-weighted assets estimated using final rules for the Basel III standardized
approach (h) ........................................................................ 311,631
Risk-weighted assets, determined in accordance with prescribed regulatory
requirements using Basel I definition .................................................. 287,611
Adjustments (4)(5) ........................................................................ 21,233
Risk-weighted assets approximated using proposed rules for the Basel III
standardized approach released June 2012 (i) ..................................... 308,844
Risk-weighted assets approximated using proposed rules for the Basel III
standardized approach released prior to June 2012 (j) ............................... 274,351 251,704
Ratios
Tangible common equity to tangible assets (a)/(f) ....................................... 7.7% 7.2% 6.6% 6.0% 5.3%
Tangible common equity to risk-weighted assets using Basel I definition (a)/(g) ......... 9.1 8.6 8.1 7.2 6.1
Tier 1 common equity to risk-weighted assets using Basel I definition (b)/(g) ............ 9.4 9.0 8.6 7.8 6.8
Common equity tier 1 to risk-weighted assets estimated using final rules for the
Basel III standardized approach (c)/(h) ................................................ 8.8 – – – –
Common equity tier 1 to risk-weighted assets approximated using proposed rules for
the Basel III standardized approach released June 2012 (d)/(i) ....................... – 8.1 – – –
Common equity tier 1 to risk-weighted assets approximated using proposed rules for
the Basel III standardized approach released prior to June 2012 (e)/(j) ............... – – 8.2 7.3 –
(1) Includes net losses on cash flow hedges included in accumulated other comprehensive income and unrealized losses on securities transferred
from available-for-sale to held-to-maturity included in accumulated other comprehensive income.
(2) Includes disallowed mortgage servicing rights.
(3) Principally net losses on cash flow hedges included in accumulated other comprehensive income.
(4) Includes higher risk-weighting for unfunded loan commitments, investment securities and mortgage servicing rights, and other adjustments.
(5) Includes higher risk-weighting for residential mortgages.
66 U.S. BANCORP