US Bank 2002 Annual Report Download - page 64

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U.S. Bancorp
Consolidated Balance Sheet
At December 31 (Dollars in Millions) 2002 2001
Assets
Cash and due from banks ****************************************************************************** $ 10,758 $ 9,120
Money market investments****************************************************************************** 434 625
Trading securities ************************************************************************************** 898 982
Investment securities
Held-to maturity (fair value $240 and $306, respectively) ************************************************ 233 299
Available-for-sale *********************************************************************************** 28,255 26,309
Loans held for sale ************************************************************************************ 4,159 2,820
Loans
Commercial**************************************************************************************** 41,944 46,330
Commercial real estate****************************************************************************** 26,867 25,373
Residential mortgages ****************************************************************************** 9,746 7,829
Retail ********************************************************************************************* 37,694 34,873
Total loans ************************************************************************************* 116,251 114,405
Less allowance for credit losses *************************************************************** 2,422 2,457
Net loans *********************************************************************************** 113,829 111,948
Premises and equipment ******************************************************************************* 1,697 1,741
Customers’ liability on acceptances ********************************************************************** 140 178
Goodwill ********************************************************************************************** 6,325 5,459
Other intangible assets ********************************************************************************* 2,321 1,953
Other assets ****************************************************************************************** 10,978 9,956
Total assets ************************************************************************************ $180,027 $171,390
Liabilities and Shareholders’ Equity
Deposits
Noninterest-bearing ********************************************************************************* $ 35,106 $ 31,212
Interest-bearing ************************************************************************************ 68,214 65,447
Time deposits greater than $100,000 ***************************************************************** 12,214 8,560
Total deposits *********************************************************************************** 115,534 105,219
Short-term borrowings********************************************************************************** 7,806 14,670
Long-term debt **************************************************************************************** 28,588 25,716
Company-obligated mandatorily redeemable preferred securities of subsidiary trusts holding solely the junior
subordinated debentures of the parent company ******************************************************* 2,994 2,826
Acceptances outstanding ******************************************************************************* 140 178
Other liabilities **************************************************************************************** 6,864 6,320
Total liabilities*********************************************************************************** 161,926 154,929
Shareholders’ equity
Common stock, par value $0.01 a share — authorized: 4,000,000,000 shares
issued: 2002 — 1,972,643,060 shares; 2001 — 1,972,777,763 shares ********************************* 20 20
Capital surplus ************************************************************************************* 4,850 4,906
Retained earnings ********************************************************************************** 13,719 11,918
Less cost of common stock in treasury: 2002 — 55,686,500 shares; 2001 — 21,068,251 shares ************ (1,272) (478)
Other comprehensive income ************************************************************************ 784 95
Total shareholders’ equity ************************************************************************ 18,101 16,461
Total liabilities and shareholders’ equity ************************************************************ $180,027 $171,390
See Notes to Consolidated Financial Statements.
62 U.S. Bancorp