2013 Form 10-K Financial Statement

#000119312514062530 Filed on February 21, 2014

View on sec.gov

Income Statement

Concept 2013 2012 Q4 2012
Revenue $19.60B $20.29B
YoY Change -3.38% 60.52%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $848.0M $821.0M
YoY Change 3.29% 8.31%
% of Gross Profit
Depreciation & Amortization $520.0M $141.0M $561.0M
YoY Change -7.31% -2.08% -0.71%
% of Gross Profit
Operating Expenses $848.0M $821.0M
YoY Change 3.29% 8.31%
Operating Profit
YoY Change
Interest Expense $1.681B $2.138B
YoY Change -21.38% -15.02%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $7.764B $1.927B $7.726B
YoY Change 0.49% 3.88% 16.55%
Income Tax $2.032B $552.0M $2.236B
% Of Pretax Income 26.17% 28.65% 28.94%
Net Earnings $5.836B $1.420B $5.647B
YoY Change 3.35% 5.19% 15.91%
Net Earnings / Revenue 29.77% 27.83%
Basic Earnings Per Share $3.02 $2.85
Diluted Earnings Per Share $3.00 $755.3K $2.84
COMMON SHARES
Basic Shares Outstanding 1.839B shares 1.880B shares 1.887B shares
Diluted Shares Outstanding 1.849B shares 1.896B shares

Balance Sheet

Concept 2013 2012 Q4 2012
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $8.252B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $2.606B $2.670B $2.670B
YoY Change -2.4% 0.49% 0.49%
Goodwill $9.143B
YoY Change 2.42%
Intangibles $2.706B
YoY Change -1.1%
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $364.0B $353.9B $353.9B
YoY Change 2.87% 4.04% 4.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $27.61B $26.30B $26.30B
YoY Change 4.97% -13.67% -13.67%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $27.61B $26.30B $26.30B
YoY Change 4.97% -13.67% -13.67%
LONG-TERM LIABILITIES
Long-Term Debt $20.05B $25.52B $25.52B
YoY Change -21.43% -20.15% -20.15%
Other Long-Term Liabilities $12.43B $12.59B $12.59B
YoY Change -1.22% 6.26% 6.26%
Total Long-Term Liabilities $32.48B $38.10B $38.10B
YoY Change -14.75% -13.0% -13.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $27.61B $26.30B $26.30B
Total Long-Term Liabilities $32.48B $38.10B $38.10B
Total Liabilities $322.9B $313.6B $314.9B
YoY Change 2.56% 2.76% 2.85%
SHAREHOLDERS EQUITY
Retained Earnings $34.72B
YoY Change 12.78%
Common Stock $8.222B
YoY Change -0.45%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.790B
YoY Change 20.36%
Treasury Stock Shares 256.3M shares
Shareholders Equity $41.11B $39.00B $39.00B
YoY Change
Total Liabilities & Shareholders Equity $364.0B $353.9B $353.9B
YoY Change 2.87% 4.04% 4.04%

Cashflow Statement

Concept 2013 2012 Q4 2012
OPERATING ACTIVITIES
Net Income $5.836B $1.420B $5.647B
YoY Change 3.35% 5.19% 15.91%
Depreciation, Depletion And Amortization $520.0M $141.0M $561.0M
YoY Change -7.31% -2.08% -0.71%
Cash From Operating Activities $11.45B $4.083B $7.958B
YoY Change 43.83% 283.38% -18.96%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions $58.00M -$94.00M
YoY Change -161.7% -85.22%
Other Investing Activities $303.0M -$6.990B $1.261B
YoY Change -75.97% -17.91% 17.85%
Cash From Investing Activities -$21.02B -$6.990B -$20.25B
YoY Change 3.81% -17.91% -38.07%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.758B $1.461B
YoY Change 20.33% 337.43%
Debt Paid & Issued, Net $2.883B $11.42B
YoY Change -74.74% 245.91%
Cash From Financing Activities 9.803B 1.777B 6.585B
YoY Change 48.87% -76.93% -70.55%
NET CHANGE
Cash From Operating Activities 11.45B 4.083B 7.958B
Cash From Investing Activities -21.02B -6.990B -20.25B
Cash From Financing Activities 9.803B 1.777B 6.585B
Net Change In Cash 225.0M -1.130B -5.710B
YoY Change -103.94% -544.88% 987.62%
FREE CASH FLOW
Cash From Operating Activities $11.45B $4.083B $7.958B
Capital Expenditures
Free Cash Flow
YoY Change

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CY2013 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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223000000
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CY2013 usb Additions To Nonperforming Assets
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CY2013 usb Other Than Temporary Impairment Credit Losses Recognized In Earnings Reductions Realized Losses
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CY2013 usb Income Before Income Tax
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CY2013 usb New Nonaccrual Loans And Foreclosed Properties
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CY2013 usb Amortization Period For Unrealized Difference Between Actual Experience And Expected Returns Of Pension Assets
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CY2013 usb Maximum Restructuring Period Under Credit Card Loan Temporary Financial Hardship Modifications
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CY2013 usb Advances On Loans
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CY2013 usb Servicing Asset At Fair Value Changes In Fair Value Resulting From Fluctuations In Market Interest Rates
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617000000
CY2013 usb Return To Performing Status
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212000000
CY2013 usb Reductions To Nonperforming Assets
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2230000000
CY2013 usb Number Of Loan Portfolio Segments
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CY2013 usb Fair Value Measurement Transfers From One Level To Another
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0
CY2013 usb Noninterest Income Excluding Securities Gains Losses
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620000000
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CY2013 usb Minimum Period Beyond Which Loans Secured By One To Four Family Properties Are Charged Down To Fair Value Less Costs To Sell
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P180D
CY2013 usb Loss Sharing Agreements Remaining Terms
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P6Y
CY2013 usb Percent Change In Net Income Attributable To Noncontrolling Interest
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CY2013 usb Compensation Expense Included In Federal Funds Purchased And Short Term Borrowings Rates
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CY2013 usb Income Before Provision And Income Taxes
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1044000000
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CY2013 usb Stock Issued During Period Value Preferred
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327000000
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CY2013 usb Noninterest Expense Excluding Intangibles
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10051000000
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CY2013 usb Loan Servicing Fees Included In Mortgage Banking Revenue
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754000000
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10828000000
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CY2013 usb Maximum Restructuring Period Under Credit Card Loan Financial Difficulty Modifications
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P60M
CY2013 usb Corporate Payment Products Revenue
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706000000
CY2013 usb Minimum Period Beyond Which Revolving Consumer Lines And Credit Cards Are Charged Off
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CY2013 usb Rights Capitalized
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CY2013 usb Stockholders Equity Average
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39917000000
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0.063 pure
CY2013 usb Deposits Average
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CY2013 usb Loans And Leases Receivable Commercial Average
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67274000000
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45217000000
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CY2013 usb Deposits Savings Deposits Average
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87428000000
CY2013 usb Loans Receivable Commercial Real Estate Average
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38237000000
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0.047 pure
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0.074 pure
CY2013 usb Deposits Interest Checking Average
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48792000000
CY2013 usb Loans And Leases Receivable Consumer Mortgage Average
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47982000000
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0.191 pure
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0.026 pure
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69020000000
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0.029 pure
CY2013 usb Loans And Leases Receivable Consumer Revolving Credit Card Average
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16813000000
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47125000000
CY2013 usb Loans And Leases Receivable Net Of Deferred Income Average
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217431000000
CY2013 usb Assets Average
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352680000000
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0.182 pure
CY2013 usb Percent Change In Loans And Leases Receivable Consumer Revolving Credit Card Average
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0.010 pure
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CY2013 usb Intangible Assets Net Excluding Goodwill Average
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3178000000
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0.024 pure
CY2013 usb Goodwill Average
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9164000000
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0.056 pure
CY2013 usb Percent Change In Loans And Leases Receivable Net Of Deferred Income Average
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0.075 pure
CY2013 usb Percent Change In Loans And Leases Receivable Gross Carrying Amount Covered Average
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-0.237 pure
CY2013 usb Loans And Leases Receivable Gross Carrying Amount Covered Average
LoansAndLeasesReceivableGrossCarryingAmountCoveredAverage
10043000000
CY2013 usb Loans And Leases Receivable Gross Carrying Amount Covered And Not Covered Average
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227474000000
CY2013 usb Percent Change In Loans And Leases Receivable Commercial Average
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0.106 pure
CY2013 usb Available For Sale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments Income Tax Expense Benefit
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CY2013 usb Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions
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14000000
CY2013 usb Financing Receivable Allowance For Credit Losses Net Loans Charged Off
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1465000000
CY2013 usb Variable Interest Entity Decrease In Assets As Result Of Deconsolidation Of Variable Interest Entities
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4600000000
CY2013 usb Variable Interest Entity Decrease In Liabilities As Result Of Deconsolidation Of Variable Interest Entities
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4600000000
CY2013 usb Tax Advantaged Investment Costs Included In Tax Expense
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604000000
CY2013 usb Tax Advantaged Investment Costs Recognized In Income Statement
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1200000000
CY2013 usb Tax Credits Recognized As Reduction To Related Investment Asset
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473000000
CY2013 usb Short Term Debt Average Weighted Average Interest Rate
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0.0129 pure
CY2013 usb Defined Benefit Plan Employee Vesting Period
DefinedBenefitPlanEmployeeVestingPeriod
P3Y
CY2013 usb Stock Options Exercisable Period
StockOptionsExercisablePeriod
P10Y
CY2013 usb Number Of Businesses Wealth Management And Securities Services
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5 Business
CY2013 usb Minimum Period Beyond Which Other Retail Loans Not Secured By One To Four Family Properties Are Charged Off
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P120D
CY2013 usb Minimum Period For Noncollection Of Principal And Interest Placed On Nonaccrual Status For Commercial Loans
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P90D
CY2013 usb Impaired Financing Receivable Interest Income Recognized On Impaired Loans
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CY2012 usb Losses Recognized Fair Value Assets Measured On Nonrecurring Basis Other Assets
LossesRecognizedFairValueAssetsMeasuredOnNonrecurringBasisOtherAssets
160000000
CY2012 usb Income Taxes And Taxable Equivalent Adjustment
IncomeTaxesAndTaxableEquivalentAdjustment
2460000000
CY2012 usb Automated Teller Machine Servicing Fees Net
AutomatedTellerMachineServicingFeesNet
346000000
CY2012 usb Noninterest Expense Excluding Intangibles
NoninterestExpenseExcludingIntangibles
10182000000
CY2012 usb Gain Loss On Sale Of Securities And Other Assets
GainLossOnSaleOfSecuritiesAndOtherAssets
242000000
CY2012 usb Loan Servicing Fees Included In Mortgage Banking Revenue
LoanServicingFeesIncludedInMortgageBankingRevenue
720000000
CY2012 usb Net Interest Income Taxable Equivalent Basis
NetInterestIncomeTaxableEquivalentBasis
10969000000
CY2012 usb Stock Issued During Period Value Preferred
StockIssuedDuringPeriodValuePreferred
2163000000
CY2012 usb Corporate Payment Products Revenue
CorporatePaymentProductsRevenue
744000000
CY2012 usb Rights Capitalized
RightsCapitalized
957000000
CY2012 usb Stockholders Equity Average
StockholdersEquityAverage
37611000000
CY2012 usb Deposits Average
DepositsAverage
235710000000
CY2012 usb Loans And Leases Receivable Commercial Average
LoansAndLeasesReceivableCommercialAverage
60830000000
CY2012 usb Time Deposits Average
TimeDepositsAverage
46566000000
CY2012 usb Deposits Savings Deposits Average
DepositsSavingsDepositsAverage
76470000000
CY2012 usb Loans Receivable Commercial Real Estate Average
LoansReceivableCommercialRealEstateAverage
36505000000
CY2012 usb Deposits Interest Checking Average
DepositsInterestCheckingAverage
45433000000
CY2012 usb Loans And Leases Receivable Consumer Mortgage Average
LoansAndLeasesReceivableConsumerMortgageAverage
40290000000
CY2012 usb Noninterest Bearing Deposit Liabilities Average
NoninterestBearingDepositLiabilitiesAverage
67241000000
CY2012 usb Loans And Leases Receivable Consumer Revolving Credit Card Average
LoansAndLeasesReceivableConsumerRevolvingCreditCardAverage
16653000000
CY2012 usb Loans And Leases Receivable Consumer Other Average
LoansAndLeasesReceivableConsumerOtherAverage
47938000000
CY2012 usb Loans And Leases Receivable Net Of Deferred Income Average
LoansAndLeasesReceivableNetOfDeferredIncomeAverage
202216000000
CY2012 usb Assets Average
AssetsAverage
342849000000
CY2012 usb Intangible Assets Net Excluding Goodwill Average
IntangibleAssetsNetExcludingGoodwillAverage
2688000000
CY2012 usb Goodwill Average
GoodwillAverage
8953000000
CY2012 usb Loans And Leases Receivable Gross Carrying Amount Covered Average
LoansAndLeasesReceivableGrossCarryingAmountCoveredAverage
13158000000
CY2012 usb Loans And Leases Receivable Gross Carrying Amount Covered And Not Covered Average
LoansAndLeasesReceivableGrossCarryingAmountCoveredAndNotCoveredAverage
215374000000
CY2012 usb Available For Sale Securities Gross Realized Gain Loss Excluding Other Than Temporary Impairments Income Tax Expense Benefit
AvailableForSaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairmentsIncomeTaxExpenseBenefit
23000000
CY2012 usb Other Than Temporary Impairment Credit Losses Recognized In Earnings Additions
OtherThanTemporaryImpairmentCreditLossesRecognizedInEarningsAdditions
47000000
CY2012 usb Financing Receivable Allowance For Credit Losses Net Loans Charged Off
FinancingReceivableAllowanceForCreditLossesNetLoansChargedOff
2097000000
CY2012 usb Other Comprehensive Income Reclassification Adjustment For Available For Sale Transferred To Held To Maturity Securities Before Tax
OtherComprehensiveIncomeReclassificationAdjustmentForAvailableForSaleTransferredToHeldToMaturitySecuritiesBeforeTax
CY2012 usb Tax Advantaged Investment Costs Included In Tax Expense
TaxAdvantagedInvestmentCostsIncludedInTaxExpense
482000000
CY2012 usb Tax Advantaged Investment Costs Recognized In Income Statement
TaxAdvantagedInvestmentCostsRecognizedInIncomeStatement
1000000000
CY2012 usb Short Term Debt Average Weighted Average Interest Rate
ShortTermDebtAverageWeightedAverageInterestRate
0.0157 pure

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