US Bank 2010 Annual Report Download - page 59

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financial results in a manner similar to the consolidated
financial statements. 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.
U.S. BANCORP 57
2010 2009
Percent
Change 2010 2009
Percent
Change 2010 2009
Percent
Change 2010 2009
Percent
Change
Wealth Management and
Securities Services
Payment
Services
Treasury and
Corporate Support
Consolidated
Company
$ 320 $ 302 6.0% $ 1,339 $ 1,170 14.4% $ 1,731 $ 1,238 39.8% $ 9,788 $ 8,716 12.3%
1,101 1,187 (7.2) 3,152 3,006 4.9 296 264 12.1 8,438 8,403 .4
– – – – – – (77) (448) 82.8 (78) (451) 82.7
1,421 1,489 (4.6) 4,491 4,176 7.5 1,950 1,054 85.0 18,148 16,668 8.9
1,000 867 15.3 1,695 1,508 12.4 881 810 8.8 9,016 7,894 14.2
53 68 (22.1) 201 199 1.0 – – – 367 387 (5.2)
1,053 935 12.6 1,896 1,707 11.1 881 810 8.8 9,383 8,281 13.3
368 554 (33.6) 2,595 2,469 5.1 1,069 244 * 8,765 8,387 4.5
22 29 (24.1) 1,334 1,994 (33.1) 58 25 * 4,356 5,557 (21.6)
346 525 (34.1) 1,261 475 * 1,011 219 * 4,409 2,830 55.8
126 191 (34.0) 458 172 * (92) (359) 74.4 1,144 593 92.9
220 334 (34.1) 803 303 * 1,103 578 90.8 3,265 2,237 46.0
– – – (30) (25) (20.0) 84 (7) * 52 (32) *
$ 220 $ 334 (34.1) $ 773 $ 278 * $ 1,187 $ 571 * $ 3,317 $ 2,205 50.4
$ 1,040 $ 1,188 (12.5)% $ 5,212 $ 4,677 11.4% $ 181 $ 943 (80.8)% $ 47,028 $ 52,827 (11.0)%
581 570 1.9 – – – 306 247 23.9 34,269 33,751 1.5
372 387 (3.9) – – – 7 20 (65.0) 27,704 24,481 13.2
1,640 1,537 6.7 17,406 16,017 8.7 14 14 – 64,089 62,023 3.3
3,633 3,682 (1.3) 22,618 20,694 9.3 508 1,224 (58.5) 173,090 173,082 –
14 – * – – – 8,418 2,282 * 19,932 12,723 56.7
3,647 3,682 (1.0) 22,618 20,694 9.3 8,926 3,506 * 193,022 185,805 3.9
1,516 1,513 .2 2,348 2,354 (.3) – (1) * 9,009 8,612 4.6
201 258 (22.1) 943 935 .9 7 5 40.0 3,127 2,965 5.5
5,860 5,988 (2.1) 27,309 24,864 9.8 75,233 61,067 23.2 285,861 268,360 6.5
5,501 5,308 3.6 634 539 17.6 208 309 (32.7) 40,162 37,856 6.1
4,983 3,914 27.3 119 84 41.7 15 11 36.4 40,184 36,866 9.0
14,327 8,397 70.6 23 19 21.1 224 166 34.9 60,582 44,904 34.9
6,146 5,904 4.1 1 1 – 404 2,578 (84.3) 43,793 48,175 (9.1)
30,957 23,523 31.6 777 643 20.8 851 3,064 (72.2) 184,721 167,801 10.1
2,109 2,061 2.3 5,310 4,772 11.3 6,640 7,134 (6.9) 28,049 26,307 6.6