US Bank 2004 Annual Report Download - page 105
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Please find page 105 of the 2004 US Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.U.S. Bancorp (Parent Company)
Condensed Balance Sheet
December 31 (Dollars in Millions) 2004 2003
Assets
Deposits with subsidiary banks, principally interest-bearing ***************************************************** $ 6,806 $ 4,726
Available-for-sale securities ********************************************************************************* 126 127
Investments in bank and bank holding company subsidiaries *************************************************** 20,082 22,628
Investments in nonbank subsidiaries ************************************************************************* 371 605
Advances to nonbank subsidiaries ************************************************************************** 516
Other assets ********************************************************************************************* 690 676
Total assets**************************************************************************************** $28,080 $28,778
Liabilities and Shareholders’ Equity
Short-term funds borrowed********************************************************************************* $ 683 $ 699
Long-term debt******************************************************************************************* 6,899 7,880
Other liabilities ******************************************************************************************** 959 957
Shareholders’ equity*************************************************************************************** 19,539 19,242
Total liabilities and shareholders’ equity **************************************************************** $28,080 $28,778
Condensed Statement of Income
Year Ended December 31 (Dollars in Millions) 2004 2003 2002
Income
Dividends from bank and bank holding company subsidiaries ********************************** $4,900.0 $ 27.0 $3,140.0
Dividends from nonbank subsidiaries******************************************************** 229.0 5.8 15.2
Interest from subsidiaries ****************************************************************** 54.1 69.1 96.9
Other income **************************************************************************** 20.9 62.1 54.5
Total income ********************************************************************** 5,204.0 164.0 3,306.6
Expense
Interest on short-term funds borrowed ****************************************************** 7.5 8.0 8.9
Interest on long-term debt ***************************************************************** 256.4 270.8 340.9
Merger and restructuring-related charges **************************************************** — 2.9 6.7
Other expense *************************************************************************** 46.9 86.5 76.0
Total expense ********************************************************************* 310.8 368.2 432.5
Income (loss) before income taxes and equity in undistributed income of subsidiaries ************** 4,893.2 (204.2) 2,874.1
Income tax credit************************************************************************* (52.9) (37.1) (84.6)
Income (loss) of parent company *********************************************************** 4,946.1 (167.1) 2,958.7
Equity (deficiency) in undistributed income of subsidiaries ************************************** (779.3) 3,899.7 209.4
Net income *********************************************************************** $4,166.8 $3,732.6 $3,168.1
U.S. BANCORP 103
Note 25