U.S. Bancorp (USB) FY2013 results: revenue $19.4 billion, down 3.4% on the year
U.S. Bancorp (USB) reported revenue of $19.4 billion for fiscal 2013, the year ended 31 December 2013, down 3.4% on the year before. Net income was $5.8 billion, up 3.3%, and diluted earnings per share $3.00. The figures are the company's own, from the 10-K it filed with the SEC on 21 February 2014.
Revenue
$19.4 billion
-3.4% on the year
FY2007FY2013
Operating margin
n/a
FY2007FY2013
Net income
$5.8 billion
+3.3% on the year
FY2007FY2013
Diluted EPS
$3.00
+5.6% on the year
FY2007FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
19,378
20,064
18,883
-3.4%
Interest expense
1,681
2,138
2,516
-21.4%
Pre-tax income
7,764
7,726
6,629
+0.5%
Income tax
2,032
2,236
1,841
-9.1%
Effective tax rate
26.2%
28.9%
27.8%
Net income
5,836
5,647
4,872
+3.3%
Net margin
30.1%
28.1%
25.8%
Diluted EPS
$3.00
$2.84
$2.46
+5.6%
$ 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
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
11,446
7,958
9,820
+43.8%
Cash from investing
n/a
-20,253
-32,704
Cash from financing
n/a
6,585
22,359
Share-based compensation
129
129
118
0.0%
Buybacks
2,282
1,856
514
+23.0%
Dividends paid
1,576
1,347
817
+17.0%
Dividend per share
$0.89
$0.78
$0.50
+13.5%
Diluted shares, weighted
1,849m
1,896m
1,923m
-2.5%
Shares outstanding at period end
1,800m
1,900m
1,900m
-5.3%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
41,113
38,998
33,978
+5.4%
Non-controlling interest
694
1,269
993
-45.3%
Deposits
262,123
249,183
230,885
+5.2%
Debt
47,657
51,818
62,421
-8.0%
Other liabilities
12,434
12,587
11,845
-1.2%
Total liabilities and equity
364,021
353,855
340,122
+2.9%
Fixed assets
2,606
2,670
2,657
-2.4%
Goodwill
9,205
9,143
8,927
+0.7%
Intangible assets
3,529
2,706
2,736
+30.4%
Securities held for sale or to maturity
38,920
34,389
18,877
+13.2%
Loans
n/a
218,905
205,082
Securities borrowed
723
368
n/a
+96.5%
Cash and equivalents
n/a
8,252
13,962
Other assets
309,038
77,422
87,881
+299.2%
Total assets
364,021
353,855
340,122
+2.9%
10-K for the year ended 31 December 2013, filed 21 February 2014: the filing.