U.S. Bancorp (USB) FY2011 results: revenue $18.9 billion, up 5.3% on the year
U.S. Bancorp (USB) reported revenue of $18.9 billion for fiscal 2011, the year ended 31 December 2011, up 5.3% on the year before. Net income was $4.9 billion, up 46.9%, and diluted earnings per share $2.46. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2012.
Revenue
$18.9 billion
+5.3% on the year
FY2007FY2011
Operating margin
n/a
FY2007FY2011
Net income
$4.9 billion
+46.9% on the year
FY2007FY2011
Diluted EPS
$2.46
+42.2% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
18,883
17,939
16,470
+5.3%
Interest expense
2,516
2,579
3,020
-2.4%
Pre-tax income
6,629
n/a
n/a
Income tax
1,841
935
395
+96.9%
Effective tax rate
27.8%
n/a
n/a
Net income
4,872
3,317
2,205
+46.9%
Net margin
25.8%
18.5%
13.4%
Diluted EPS
$2.46
$1.73
$0.97
+42.2%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
9,820
5,241
7,600
+87.4%
Cash from investing
-32,704
-16,372
-719
Cash from financing
22,359
19,412
-7,534
+15.2%
Share-based compensation
118
113
89.0
+4.4%
Buybacks
514
n/a
0.0
Dividends paid
817
383
1,025
+113.3%
Dividend per share
$0.50
$0.20
$0.20
+150.0%
Diluted shares, weighted
1,923m
1,921m
1,859m
+0.1%
Shares outstanding at period end
1,900m
1,900m
1,900m
0.0%
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
33,978
29,519
25,963
+15.1%
Non-controlling interest
993
803
698
+23.7%
Deposits
230,885
204,252
183,242
+13.0%
Short-term borrowings
n/a
n/a
31,312
Debt
62,421
64,094
32,580
-2.6%
Other liabilities
11,845
9,118
7,381
+29.9%
Total liabilities and equity
340,122
307,786
281,176
+10.5%
Fixed assets
2,657
2,487
2,263
+6.8%
Goodwill
8,927
8,954
9,011
-0.3%
Intangible assets
2,736
3,213
3,406
-14.8%
Securities held for sale or to maturity
18,877
1,469
47.0
+1,185.0%
Loans
205,082
191,751
189,676
+7.0%
Cash and equivalents
13,962
14,487
6,206
-3.6%
Other assets
87,881
85,425
70,567
+2.9%
Total assets
340,122
307,786
281,176
+10.5%
10-K for the year ended 31 December 2011, filed 23 February 2012: the filing.