US Bank 2014 Annual Report Download - page 149
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NOTE 24 U.S. BANCORP (PARENT COMPANY)
CONDENSED BALANCE SHEET
At December 31 (Dollars in Millions) 2014 2013
Assets
Due from banks, principally interest-bearing ......................................................................... $10,775 $ 8,371
Available-for-sale securities .......................................................................................... 464 463
Investments in bank subsidiaries ..................................................................................... 39,599 37,558
Investments in nonbank subsidiaries ................................................................................. 1,906 1,546
Advances to bank subsidiaries ........................................................................................ 2,650 2,250
Advances to nonbank subsidiaries .................................................................................... 550 1,534
Other assets .......................................................................................................... 1,762 1,628
Total assets ........................................................................................................ $57,706 $53,350
Liabilities and Shareholders’ Equity
Short-term funds borrowed ........................................................................................... $ 177 $ 138
Long-term debt ....................................................................................................... 13,189 11,416
Other liabilities ....................................................................................................... 861 683
Shareholders’ equity .................................................................................................. 43,479 41,113
Total liabilities and shareholders’ equity ........................................................................... $57,706 $53,350
CONDENSED STATEMENT OF INCOME
Year Ended December 31 (Dollars in Millions) 2014 2013 2012
Income
Dividends from bank subsidiaries ........................................................................ $3,850 $6,100 $ 250
Dividends from nonbank subsidiaries ..................................................................... 38 9 4
Interest from subsidiaries ................................................................................ 123 118 96
Other income ............................................................................................. 64 66 149
Total income ........................................................................................... 4,075 6,293 499
Expense
Interest expense.......................................................................................... 335 325 393
Other expense ............................................................................................ 90 81 122
Total expense .......................................................................................... 425 406 515
Income (loss) before income taxes and equity in undistributed income of subsidiaries .................... 3,650 5,887 (16)
Applicable income taxes .................................................................................. (94) (88) (85)
Income of parent company ............................................................................... 3,744 5,975 69
Equity in undistributed income (losses) of subsidiaries ................................................... 2,107 (139) 5,578
Net income attributable to U.S. Bancorp ............................................................... $5,851 $5,836 $5,647
U.S. BANCORP The power of potential
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