U.S. Bancorp (USB) FY2012 results: revenue $20.1 billion, up 6.3% on the year
U.S. Bancorp (USB) reported revenue of $20.1 billion for fiscal 2012, the year ended 31 December 2012, up 6.3% on the year before. Net income was $5.6 billion, up 15.9%, and diluted earnings per share $2.84. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2013.
Revenue
$20.1 billion
+6.3% on the year
FY2007FY2012
Operating margin
n/a
FY2007FY2012
Net income
$5.6 billion
+15.9% on the year
FY2007FY2012
Diluted EPS
$2.84
+15.4% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
20,064
18,883
17,939
+6.3%
Interest expense
2,138
2,516
2,579
-15.0%
Pre-tax income
7,726
6,629
n/a
+16.5%
Income tax
2,236
1,841
935
+21.5%
Effective tax rate
28.9%
27.8%
n/a
Net income
5,647
4,872
3,317
+15.9%
Net margin
28.1%
25.8%
18.5%
Diluted EPS
$2.84
$2.46
$1.73
+15.4%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
7,958
9,820
5,241
-19.0%
Cash from investing
-20,253
-32,704
-16,372
Cash from financing
6,585
22,359
19,412
-70.5%
Share-based compensation
129
118
113
+9.3%
Buybacks
1,856
514
n/a
+261.1%
Dividends paid
1,347
817
383
+64.9%
Dividend per share
$0.78
$0.50
$0.20
+56.0%
Diluted shares, weighted
1,896m
1,923m
1,921m
-1.4%
Shares outstanding at period end
1,900m
1,900m
1,900m
0.0%
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
38,998
33,978
29,519
+14.8%
Non-controlling interest
1,269
993
803
+27.8%
Deposits
249,183
230,885
204,252
+7.9%
Debt
51,818
62,421
64,094
-17.0%
Other liabilities
12,587
11,845
9,118
+6.3%
Total liabilities and equity
353,855
340,122
307,786
+4.0%
Fixed assets
2,670
2,657
2,487
+0.5%
Goodwill
9,143
8,927
8,954
+2.4%
Intangible assets
2,706
2,736
3,213
-1.1%
Securities held for sale or to maturity
34,389
18,877
1,469
+82.2%
Loans
218,905
205,082
191,751
+6.7%
Securities borrowed
368
n/a
n/a
Cash and equivalents
8,252
13,962
14,487
-40.9%
Other assets
77,422
87,881
85,425
-11.9%
Total assets
353,855
340,122
307,786
+4.0%
10-K for the year ended 31 December 2012, filed 22 February 2013: the filing.