Computation of Ratio of Earnings to Fixed Charges
(Dollars in Millions) | Three Months Ended June 30, 2013 | Six Months Ended June 30, 2013 | ||||||
Earnings |
| |||||||
1. Net income attributable to U.S. Bancorp | $ | 1,484 | $ | 2,912 | ||||
2. Applicable income taxes, including expense related to unrecognized tax positions | 529 | 1,087 | ||||||
3. Net income attributable to U.S. Bancorp before income taxes (1 + 2) | $ | 2,013 | $ | 3,999 | ||||
4. Fixed charges: | ||||||||
a. Interest expense excluding interest on deposits* | $ | 278 | $ | 581 | ||||
b. Portion of rents representative of interest and amortization of debt expense | 27 | 54 | ||||||
c. Fixed charges excluding interest on deposits (4a + 4b) | $ | 305 | $ | 635 | ||||
d. Interest on deposits | 144 | 299 | ||||||
e. Fixed charges including interest on deposits (4c + 4d) | $ | 449 | $ | 934 | ||||
5. Amortization of interest capitalized | $ | – | $ | – | ||||
6. Earnings excluding interest on deposits (3 + 4c + 5) | 2,318 | 4,634 | ||||||
7. Earnings including interest on deposits (3 + 4e + 5) | 2,462 | 4,933 | ||||||
8. Fixed charges excluding interest on deposits (4c) | 305 | 635 | ||||||
9. Fixed charges including interest on deposits (4e) | 449 | 934 | ||||||
Ratio of Earnings to Fixed Charges | ||||||||
10. Excluding interest on deposits (line 6/line 8) | 7.60 | 7.30 | ||||||
11. Including interest on deposits (line 7/line 9) | 5.48 | 5.28 | ||||||
* | Excludes interest expense related to unrecognized tax positions |
84 | U. S. Bancorp |