U.S. Bancorp (USB) FY2017 results: revenue $21.7 billion, up 3.5% on the year
U.S. Bancorp (USB) reported revenue of $21.7 billion for fiscal 2017, the year ended 31 December 2017, up 3.5% on the year before. Net income was $6.2 billion, up 5.6%, and diluted earnings per share $3.51. The figures are the company's own, from the 10-K it filed with the SEC on 22 February 2018.
Revenue
$21.7 billion
+3.5% on the year
FY2010FY2017
Operating margin
n/a
FY2010FY2017
Net income
$6.2 billion
+5.6% on the year
FY2010FY2017
Diluted EPS
$3.51
+8.3% on the year
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
21,697
20,956
20,093
+3.5%
Interest expense
1,966
1,468
1,401
+33.9%
Pre-tax income
7,517
8,105
8,030
-7.3%
Income tax
1,264
2,161
2,097
-41.5%
Effective tax rate
16.8%
26.7%
26.1%
Net income
6,218
5,888
5,879
+5.6%
Net margin
28.7%
28.1%
29.3%
Diluted EPS
$3.51
$3.24
$3.16
+8.3%
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
6,472
5,336
8,782
+21.3%
Cash from investing
-12,126
-17,958
n/a
Cash from financing
9,454
17,180
n/a
-45.0%
Share-based compensation
163
150
125
+8.7%
Buybacks
2,631
2,556
2,190
+2.9%
Dividends paid
1,928
1,810
1,777
+6.5%
Dividend per share
$1.16
$1.07
$1.01
+8.4%
Diluted shares, weighted
1,683m
1,724m
1,772m
-2.4%
Shares outstanding at period end
1,700m
1,700m
1,700m
0.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
49,040
47,298
46,131
+3.7%
Non-controlling interest
626
635
686
-1.4%
Deposits
347,215
334,590
300,400
+3.8%
Debt
48,910
47,286
59,955
+3.4%
Other liabilities
16,249
16,155
14,681
+0.6%
Total liabilities and equity
462,040
445,964
421,853
+3.6%
Fixed assets
2,432
2,443
2,513
-0.5%
Goodwill
9,434
9,344
9,361
+1.0%
Intangible assets
3,228
3,303
3,350
-2.3%
Securities held for sale or to maturity
44,362
42,991
43,590
+3.2%
Securities borrowed
923
944
772
-2.2%
Other assets
401,661
386,939
362,267
+3.8%
Total assets
462,040
445,964
421,853
+3.6%
10-K for the year ended 31 December 2017, filed 22 February 2018: the filing.