Attached files

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10-Q - 10-Q - US BANCORP \DE\d176571d10q.htm
EX-32 - EX-32 - US BANCORP \DE\d176571dex32.htm
EX-31.2 - EX-31.2 - US BANCORP \DE\d176571dex312.htm
EX-31.1 - EX-31.1 - US BANCORP \DE\d176571dex311.htm

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges

 

(Dollars in Millions)   

Three Months Ended

June 30, 2016

    

Six Months Ended

June 30, 2016

 

Earnings

  

  

  1.

 

Net income attributable to U.S. Bancorp

   $ 1,522       $ 2,908   

  2.

 

Applicable income taxes, including expense related to unrecognized tax positions

     542         1,046   

  3.

 

Net income attributable to U.S. Bancorp before income taxes (1 + 2)

   $ 2,064       $ 3,954   

  4.

 

Fixed charges:

  

  
  a.  

Interest expense excluding interest on deposits*

   $ 255       $ 502   
  b.  

Portion of rents representative of interest and amortization of debt expense

     28         55   
  c.  

Fixed charges excluding interest on deposits (4a + 4b)

     283         557   
  d.  

Interest on deposits

     152         291   
  e.  

Fixed charges including interest on deposits (4c + 4d)

   $ 435       $ 848   

  5.

 

Amortization of interest capitalized

   $       $   

  6.

 

Earnings excluding interest on deposits (3 + 4c + 5)

     2,347         4,511   

  7.

 

Earnings including interest on deposits (3 + 4e + 5)

     2,499         4,802   

  8.

 

Fixed charges excluding interest on deposits (4c)

     283         557   

  9.

 

Fixed charges including interest on deposits (4e)

     435         848   

Ratio of Earnings to Fixed Charges

  

  

10.

 

Excluding interest on deposits (line 6/line 8)

     8.29         8.10   

11.

 

Including interest on deposits (line 7/line 9)

     5.74         5.66   

 

* Excludes interest expense related to unrecognized tax positions.

 

 

82

U.S. Bancorp