US Bank 2010 Annual Report Download - page 95

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The following table reflects the changes in the carrying value of goodwill for the years ended December 31, 2010 and 2009:
(Dollars in Millions)
Wholesale Banking and
Commercial Real Estate
Consumer and Small
Business Banking
Wealth Management and
Securities Services
Payment
Services
Treasury and
Corporate Support
Consolidated
Company
Balance at December 31, 2008.... $1,475 $3,283 $1,512 $2,301 $– $8,571
Goodwill acquired .......... 130 243 3 46 – 422
Other (a) . . .............. – – – 18 – 18
Balance at December 31, 2009.... $1,605 $3,526 $1,515 $2,365 $– $9,011
Goodwill acquired .......... – 9 5 – – 14
Disposal . . .............. – – (57) – – (57)
Other (a) . . .............. – – – (14) – (14)
Balance at December 31, 2010.... $1,605 $3,535 $1,463 $2,351 $– $8,954
(a) Other changes in goodwill include the effect of foreign exchange translation.
Note 12 SHORT-TERM BORROWINGS (a)
The following table is a summary of short-term borrowings for the last three years:
(Dollars in Millions) Amount Rate Amount Rate Amount Rate
2010 2009 2008
At year-end
Federal funds purchased . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 776 .17% $ 1,329 .11% $ 2,369 .17%
Securities sold under agreements to repurchase . . . . . . . . . . . . . . . . . . . 9,261 2.70 8,866 2.82 9,493 2.65
Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,885 .20 14,608 .17 10,061 .22
Other short-term borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,635 .59 6,509 .48 12,060 1.87
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $32,557 .99% $31,312 .98% $33,983 1.48%
Average for the year
Federal funds purchased (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2,180 10.09% $ 2,457 8.22% $ 3,834 5.19%
Securities sold under agreements to repurchase . . . . . . . . . . . . . . . . . . . 9,211 2.75 8,915 2.84 11,982 3.07
Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,349 .20 10,924 .32 10,532 1.91
Other short-term borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,979 .75 6,853 .89 11,889 3.16
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $33,719 1.65% $29,149 1.89% $38,237 2.99%
Maximum month-end balance
Federal funds purchased . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,034 $ 6,352 $ 9,681
Securities sold under agreements to repurchase . . . . . . . . . . . . . . . . . . . 9,261 9,154 15,198
Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15,981 14,608 11,440
Other short-term borrowings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,700 9,550 17,642
(a) Interest and rates are presented on a fully taxable-equivalent basis utilizing a tax rate of 35 percent.
(b) Average federal funds purchased rates include compensation expense for corporate card and corporate trust balances.
U.S. BANCORP 93