US Bank 2005 Annual Report Download - page 101

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U.S. BANCORP (PARENT COMPANY)
Condensed Balance Sheet
December 31 (Dollars in Millions) 2005 2004
Assets
Deposits with subsidiary banks, principally interest-bearing ***************************************************** $ 9,882 $ 6,806
Available-for-sale securities ********************************************************************************* 107 126
Investments in bank and bank holding company subsidiaries *************************************************** 21,681 20,082
Investments in nonbank subsidiaries ************************************************************************* 376 371
Advances to nonbank subsidiaries ************************************************************************** 10 5
Other assets ********************************************************************************************* 659 690
Total assets**************************************************************************************** $32,715 $28,080
Liabilities and Shareholders’ Equity
Short-term funds borrowed********************************************************************************* $ 782 $ 683
Long-term debt******************************************************************************************* 10,854 6,899
Other liabilities ******************************************************************************************** 993 959
Shareholders’ equity*************************************************************************************** 20,086 19,539
Total liabilities and shareholders’ equity **************************************************************** $32,715 $28,080
Condensed Statement of Income
Year Ended December 31 (Dollars in Millions) 2005 2004 2003
Income
Dividends from bank and bank holding company subsidiaries *************************************** $2,609 $4,900 $ 27
Dividends from nonbank subsidiaries************************************************************* — 229 6
Interest from subsidiaries *********************************************************************** 200 54 69
Other income ********************************************************************************* 22 21 62
Total income *************************************************************************** 2,831 5,204 164
Expense
Interest on short-term funds borrowed *********************************************************** 25 8 8
Interest on long-term debt********************************************************************** 311 256 271
Other expense ******************************************************************************** 93 47 89
Total expense ************************************************************************** 429 311 368
Income (loss) before income taxes and equity in undistributed income of subsidiaries******************* 2,402 4,893 (204)
Income tax credit ***************************************************************************** (73) (53) (37)
Income (loss) of parent company **************************************************************** 2,475 4,946 (167)
Equity (deficiency) in undistributed income of subsidiaries ******************************************* 2,014 (779) 3,900
Net income **************************************************************************** $4,489 $4,167 $3,733
U.S. BANCORP 99
Note 24