US Bancorp total debt 1989–2026What is the debt to equity ratio? Debt to equity is a company's total debt divided by its shareholders' equity: how much it has borrowed for each dollar its owners have in the business.
US Bancorp's total debt was 73.04B USD on 30 September 2026, down 6.3% on a year before. At the end of fiscal year 2025 it was 77.93B USD.
Last updated 8 Nov 2026 · Next report 19 Jan 2027
Total debt
Growth
| Fiscal year | Period ending | Total debt | Growth | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Latest quarter | 30 Sept 2026 | 73.04B | -6.34% | 202.67B | 129.63B | 1.10 |
| FY2025 | 31 Dec 2025 | 77.93B | +5.99% | 137.73B | 59.81B | 1.20 |
| FY2024 | 31 Dec 2024 | 73.52B | +10.13% | 142.87B | 69.35B | 1.26 |
| FY2023 | 31 Dec 2023 | 66.76B | -6.03% | 130.56B | 63.80B | 1.21 |
| FY2022 | 31 Dec 2022 | 71.05B | +61.76% | 125.59B | 54.55B | 1.40 |
| FY2021 | 31 Dec 2021 | 43.92B | -17.23% | 161.31B | 117.39B | 0.80 |
| FY2020 | 31 Dec 2020 | 53.06B | -16.95% | 199.02B | 145.96B | 1.00 |
| FY2019 | 31 Dec 2019 | 63.89B | +15.16% | 144.75B | 80.86B | 1.23 |
| FY2018 | 31 Dec 2018 | 55.48B | +13.43% | 85.51B | 30.03B | 1.09 |
| FY2017 | 31 Dec 2017 | 48.91B | +3.43% | 86.95B | 38.04B | 1.00 |
| FY2016 | 31 Dec 2016 | 47.29B | -22.37% | 81.23B | 33.95B | 1.00 |
| FY2015 | 31 Dec 2015 | 60.91B | -1.99% | 72.13B | 11.21B | 1.32 |
| FY2014 | 31 Dec 2014 | 62.15B | +30.42% | 66.39B | 4.24B | 1.43 |
| FY2013 | 31 Dec 2013 | 47.66B | -8.03% | 48.31B | 649.00M | 1.16 |
| FY2012 | 31 Dec 2012 | 51.82B | -16.99% | 46.35B | -5.47B | 1.33 |
| FY2011 | 31 Dec 2011 | 62.42B | -2.61% | 59.07B | -3.35B | 1.84 |
| FY2010 | 31 Dec 2010 | 64.09B | +0.32% | 66.00B | 1.90B | 2.17 |
| FY2009 | 31 Dec 2009 | 63.89B | -11.68% | 50.93B | -12.97B | 2.46 |
| FY2008 | 31 Dec 2008 | 72.34B | -4.57% | 46.33B | -26.02B | 2.75 |
| FY2007 | 31 Dec 2007 | 75.81B | +17.47% | 51.93B | -23.88B | 3.60 |
| FY2006 | 31 Dec 2006 | 64.54B | +12.69% | 48.67B | -15.87B | 3.04 |
| FY2005 | 31 Dec 2005 | 57.27B | +19.75% | 47.66B | -9.61B | 2.85 |
| FY2004 | 31 Dec 2004 | 47.82B | +7.07% | 6.34B | -41.49B | 2.45 |
| FY2003 | 31 Dec 2003 | 44.67B | +13.40% | 8.63B | -36.04B | 2.32 |
| FY2002 | 31 Dec 2002 | 39.39B | -8.85% | 11.19B | -28.20B | 2.18 |
| FY2001 | 31 Dec 2001 | 43.21B | +16.63% | 9.75B | -33.47B | 2.63 |
| FY2000 | 31 Dec 2000 | 37.05B | +87.42% | 9.13B | -27.92B | 2.44 |
| FY1999 | 31 Dec 1999 | 19.77B | +63.34% | 4.04B | -15.73B | 2.59 |
| FY1998 | 31 Dec 1998 | 12.10B | +134.60% | 4.61B | -7.50B | 1.83 |
| FY1997 | 31 Dec 1997 | 5.16B | +341.44% | 2.23B | -2.93B | 1.88 |
| FY1996 | 31 Dec 1996 | 1.17B | +30.41% | 559.00M | -609.70M | 1.37 |
| FY1995 | 31 Dec 1995 | 896.20M | -25.39% | 486.20M | -410.00M | 1.09 |
| FY1994 | 31 Dec 1994 | 1.20B | -39.33% | 486.10M | -715.10M | 1.67 |
| FY1993 | 31 Dec 1993 | 1.98B | +8.55% | 1.68B | -298.00M | 0.88 |
| FY1992 | 31 Dec 1992 | 1.82B | +225.13% | 2.24B | 419.00M | 0.79 |
| FY1991 | 31 Dec 1991 | 561.00M | +1.32% | 624.50M | 63.50M | 1.01 |
| FY1990 | 31 Dec 1990 | 553.70M | +48.13% | 733.10M | 179.40M | 1.11 |
| FY1989 | 31 Dec 1989 | 373.80M | — | 670.70M | 296.90M | 0.81 |
| Quarter | Period ending | Total debt | Growth on a year before | Cash and short-term investments | Net cash | Debt to equity |
|---|---|---|---|---|---|---|
| Q3 FY2026 | 30 Sept 2026 | 73.04B | -6.34% | 202.67B | 129.63B | 1.10 |
| Q2 FY2026 | 30 Jun 2026 | 96.01B | +21.45% | 66.49B | -29.52B | 1.42 |
| Q1 FY2026 | 31 Mar 2026 | 79.22B | +2.86% | 217.33B | 138.11B | 1.20 |
| Q4 FY2025 | 31 Dec 2025 | 77.93B | +5.99% | 137.73B | 59.81B | 1.20 |
| Q3 FY2025 | 30 Sept 2025 | 77.98B | -0.72% | 155.68B | 77.69B | 1.23 |
| Q2 FY2025 | 30 Jun 2025 | 79.05B | +14.11% | 148.07B | 69.01B | 1.29 |
| Q1 FY2025 | 31 Mar 2025 | 77.02B | +10.35% | 136.36B | 59.34B | 1.28 |
| Q4 FY2024 | 31 Dec 2024 | 73.52B | +10.13% | 142.87B | 69.35B | 1.26 |
| Q3 FY2024 | 30 Sept 2024 | 78.55B | +20.89% | 155.66B | 77.11B | 1.33 |
| Q2 FY2024 | 30 Jun 2024 | 69.28B | -10.75% | 146.04B | 76.76B | 1.23 |
| Q1 FY2024 | 31 Mar 2024 | 69.80B | -29.44% | 149.14B | 79.35B | 1.26 |
| Q4 FY2023 | 31 Dec 2023 | 66.76B | -6.03% | 130.56B | 63.80B | 1.21 |
| Q3 FY2023 | 30 Sept 2023 | 64.97B | +13.40% | 131.34B | 66.37B | 1.22 |
| Q2 FY2023 | 30 Jun 2023 | 77.62B | +42.75% | 139.61B | 61.99B | 1.46 |
| Q1 FY2023 | 31 Mar 2023 | 98.92B | +83.28% | 132.14B | 33.22B | 1.87 |
| Q4 FY2022 | 31 Dec 2022 | 71.05B | +61.76% | 125.59B | 54.55B | 1.40 |
| Q3 FY2022 | 30 Sept 2022 | 57.29B | +10.69% | 109.32B | 52.02B | 1.21 |
| Q2 FY2022 | 30 Jun 2022 | 54.37B | +9.24% | 136.94B | 82.57B | 1.12 |
| Q1 FY2022 | 31 Mar 2022 | 53.97B | +9.00% | 167.04B | 113.07B | 1.05 |
| Q4 FY2021 | 31 Dec 2021 | 43.92B | -17.23% | 161.31B | 117.39B | 0.80 |
| Q3 FY2021 | 30 Sept 2021 | 51.76B | -7.85% | 212.43B | 160.67B | 0.96 |
| Q2 FY2021 | 30 Jun 2021 | 49.77B | -21.21% | 204.24B | 154.46B | 0.94 |
| Q1 FY2021 | 31 Mar 2021 | 49.52B | -37.03% | 198.91B | 149.39B | 0.96 |
| Q4 FY2020 | 31 Dec 2020 | 53.06B | -16.95% | 199.02B | 145.96B | 1.00 |
| Q3 FY2020 | 30 Sept 2020 | 56.17B | +0.56% | 177.48B | 121.31B | 1.07 |
| Q2 FY2020 | 30 Jun 2020 | 63.17B | +12.73% | 179.50B | 116.32B | 1.22 |
| Q1 FY2020 | 31 Mar 2020 | 78.64B | +40.24% | 169.86B | 91.22B | 1.53 |
| Q4 FY2019 | 31 Dec 2019 | 63.89B | +15.16% | 144.75B | 80.86B | 1.23 |
| Q3 FY2019 | 30 Sept 2019 | 55.85B | -13.76% | 89.60B | 33.75B | 1.04 |
| Q2 FY2019 | 30 Jun 2019 | 56.04B | +1.32% | 85.20B | 29.16B | 1.06 |
| Q1 FY2019 | 31 Mar 2019 | 56.08B | +10.16% | 85.22B | 29.14B | 1.08 |
| Q4 FY2018 | 31 Dec 2018 | 55.48B | +13.43% | 85.51B | 30.03B | 1.09 |
| Q3 FY2018 | 30 Sept 2018 | 64.76B | +28.57% | 82.33B | 17.56B | 1.29 |
| Q2 FY2018 | 30 Jun 2018 | 55.31B | +5.90% | 83.16B | 27.86B | 1.11 |
| Q1 FY2018 | 31 Mar 2018 | 50.90B | +5.76% | 85.80B | 34.90B | 1.03 |
| Q4 FY2017 | 31 Dec 2017 | 48.91B | +3.43% | 86.95B | 38.04B | 1.00 |
| Q3 FY2017 | 30 Sept 2017 | 50.37B | -6.15% | 87.63B | 37.26B | 1.03 |
| Q2 FY2017 | 30 Jun 2017 | 52.23B | -5.68% | 95.62B | 43.40B | 1.08 |
| Q1 FY2017 | 31 Mar 2017 | 48.13B | -17.93% | 86.53B | 38.40B | 1.01 |
| Q4 FY2016 | 31 Dec 2016 | 47.29B | -22.37% | 81.23B | 33.95B | 1.00 |
| Q3 FY2016 | 30 Sept 2016 | 53.67B | -9.67% | 89.98B | 36.31B | 1.12 |
| Q2 FY2016 | 30 Jun 2016 | 55.37B | -10.58% | 79.58B | 24.21B | 1.17 |
| Q1 FY2016 | 31 Mar 2016 | 58.65B | -7.39% | 74.94B | 16.30B | 1.25 |
| Q4 FY2015 | 31 Dec 2015 | 60.91B | -1.99% | 72.13B | 11.21B | 1.32 |
| Q3 FY2015 | 30 Sept 2015 | 59.42B | -2.29% | 70.53B | 11.11B | 1.32 |
| Q2 FY2015 | 30 Jun 2015 | 61.93B | +12.61% | 74.67B | 12.75B | 1.39 |
| Q1 FY2015 | 31 Mar 2015 | 63.33B | +16.08% | 70.51B | 7.18B | 1.43 |
| Q4 FY2014 | 31 Dec 2014 | 62.15B | +30.42% | 66.39B | 4.24B | 1.43 |
| Q3 FY2014 | 30 Sept 2014 | 60.81B | +35.51% | 58.86B | -1.96B | 1.41 |
| Q2 FY2014 | 30 Jun 2014 | 54.99B | +19.80% | 61.03B | 6.03B | 1.29 |
| Q1 FY2014 | 31 Mar 2014 | 54.56B | +4.18% | 52.17B | -2.39B | 1.30 |
| Q4 FY2013 | 31 Dec 2013 | 47.66B | -8.03% | 48.31B | 649.00M | 1.16 |
| Q3 FY2013 | 30 Sept 2013 | 44.88B | -17.07% | 50.92B | 6.04B | 1.12 |
| Q2 FY2013 | 30 Jun 2013 | 45.90B | -22.86% | 46.93B | 1.02B | 1.16 |
| Q1 FY2013 | 31 Mar 2013 | 52.37B | -9.48% | 47.50B | -4.86B | 1.32 |
| Q4 FY2012 | 31 Dec 2012 | 51.82B | -16.99% | 46.35B | -5.47B | 1.33 |
| Q3 FY2012 | 30 Sept 2012 | 54.12B | -13.62% | 9.38B | -44.74B | 1.40 |
| Q2 FY2012 | 30 Jun 2012 | 59.51B | -4.77% | 15.40B | -44.10B | 1.57 |
| Q1 FY2012 | 31 Mar 2012 | 57.85B | -7.88% | 9.56B | -48.29B | 1.61 |
| Q4 FY2011 | 31 Dec 2011 | 62.42B | -2.61% | 59.07B | -3.35B | 1.84 |
| Q3 FY2011 | 30 Sept 2011 | 62.65B | -3.15% | 13.71B | -48.95B | 1.89 |
| Q2 FY2011 | 30 Jun 2011 | 62.48B | -0.72% | 15.25B | -47.23B | 1.93 |
| Q1 FY2011 | 31 Mar 2011 | 62.80B | -1.26% | 13.80B | -49.00B | 2.06 |
| Q4 FY2010 | 31 Dec 2010 | 64.09B | +0.32% | 66.00B | 1.90B | 2.17 |
| Q3 FY2010 | 30 Sept 2010 | 64.69B | +5.34% | 4.47B | -60.22B | 2.22 |
| Q2 FY2010 | 30 Jun 2010 | 62.93B | -8.65% | 5.03B | -57.90B | 2.23 |
| Q1 FY2010 | 31 Mar 2010 | 63.60B | -1.91% | 8.38B | -55.22B | 2.38 |
| Q4 FY2009 | 31 Dec 2009 | 63.89B | -11.68% | 50.93B | -12.97B | 2.46 |
| Q3 FY2009 | 30 Sept 2009 | 61.42B | -20.79% | 5.02B | -56.40B | 2.44 |
| Q2 FY2009 | 30 Jun 2009 | 68.89B | -15.00% | 6.38B | -62.51B | 2.85 |
| Q1 FY2009 | 31 Mar 2009 | 64.83B | -10.73% | 6.15B | -58.68B | 2.38 |
| Q4 FY2008 | 31 Dec 2008 | 72.34B | -4.57% | 46.33B | -26.02B | 2.75 |
| Q3 FY2008 | 30 Sept 2008 | 77.53B | +4.62% | 7.12B | -70.42B | 3.58 |
| Q2 FY2008 | 30 Jun 2008 | 81.05B | +10.87% | 7.96B | -73.09B | 3.71 |
| Q1 FY2008 | 31 Mar 2008 | 72.62B | -0.81% | 7.32B | -65.30B | 3.37 |
| Q4 FY2007 | 31 Dec 2007 | 75.81B | +17.47% | 51.93B | -23.88B | 3.60 |
| Q3 FY2007 | 30 Sept 2007 | 74.11B | +12.26% | 6.64B | -67.47B | 3.57 |
| Q2 FY2007 | 30 Jun 2007 | 73.11B | +16.93% | 6.53B | -66.57B | 3.60 |
| Q1 FY2007 | 31 Mar 2007 | 73.21B | +22.07% | 6.29B | -66.93B | 3.52 |
| Q4 FY2006 | 31 Dec 2006 | 64.54B | +12.69% | 48.67B | -15.87B | 3.04 |
| Q3 FY2006 | 30 Sept 2006 | 66.01B | +11.29% | 6.36B | -59.66B | 3.15 |
| Q2 FY2006 | 30 Jun 2006 | 62.52B | +13.22% | 7.23B | -55.29B | 3.06 |
| Q1 FY2006 | 31 Mar 2006 | 59.98B | +14.58% | 7.05B | -52.93B | 2.96 |
| Q4 FY2005 | 31 Dec 2005 | 57.27B | +19.75% | 47.66B | -9.61B | 2.85 |
| Q3 FY2005 | 30 Sept 2005 | 59.32B | +17.11% | 6.92B | -52.40B | 2.99 |
| Q2 FY2005 | 30 Jun 2005 | 55.22B | +22.02% | 6.44B | -48.78B | 2.77 |
| Q1 FY2005 | 31 Mar 2005 | 52.34B | +11.37% | 5.88B | -46.46B | 2.73 |
| Q4 FY2004 | 31 Dec 2004 | 47.82B | +7.07% | 6.34B | -41.49B | 2.45 |
| Q3 FY2004 | 30 Sept 2004 | 50.65B | +13.91% | 6.97B | -43.68B | 2.58 |
| Q2 FY2004 | 30 Jun 2004 | 45.26B | +9.27% | 7.48B | -37.78B | 2.42 |
| Q1 FY2004 | 31 Mar 2004 | 47.00B | +12.91% | 7.18B | -39.82B | 2.42 |
| Q4 FY2003 | 31 Dec 2003 | 44.67B | +13.40% | 8.63B | -36.04B | 2.32 |
| Q3 FY2003 | 30 Sept 2003 | 44.47B | +5.47% | 9.72B | -34.74B | 2.29 |
| Q2 FY2003 | 30 Jun 2003 | 41.42B | -8.08% | 15.01B | -26.41B | 2.16 |
| Q1 FY2003 | 31 Mar 2003 | 41.63B | +2.74% | 9.36B | -32.26B | 2.25 |
| Q4 FY2002 | 31 Dec 2002 | 39.39B | -8.85% | 11.19B | -28.20B | 2.18 |
| Q3 FY2002 | 30 Sept 2002 | 42.16B | +1.32% | 9.19B | -32.97B | 2.41 |
| Q2 FY2002 | 30 Jun 2002 | 45.06B | +20.23% | 8.64B | -36.41B | 2.71 |
| Q1 FY2002 | 31 Mar 2002 | 40.52B | +16.46% | 7.04B | -33.48B | 2.55 |
| Q4 FY2001 | 31 Dec 2001 | 43.21B | +16.63% | 9.75B | -33.47B | 2.63 |
| Q3 FY2001 | 30 Sept 2001 | 41.61B | +208.03% | 8.32B | -33.29B | 2.47 |
| Q2 FY2001 | 30 Jun 2001 | 37.48B | +164.87% | 8.08B | -29.40B | 2.42 |
| Q1 FY2001 | 31 Mar 2001 | 34.79B | +146.68% | 7.78B | -27.02B | 2.28 |
| Q4 FY2000 | 31 Dec 2000 | 37.05B | +87.42% | 9.13B | -27.92B | 2.44 |
| Q3 FY2000 | 30 Sept 2000 | 13.51B | +3.47% | 3.14B | -10.37B | 2.18 |
| Q2 FY2000 | 30 Jun 2000 | 14.15B | +148.43% | 3.50B | -10.65B | 2.28 |
| Q1 FY2000 | 31 Mar 2000 | 14.10B | +151.78% | 3.04B | -11.06B | 2.25 |
| Q4 FY1999 | 31 Dec 1999 | 19.77B | +63.34% | 4.04B | -15.73B | 2.59 |
| Q3 FY1999 | 30 Sept 1999 | 13.06B | +224.73% | 3.17B | -9.88B | 2.03 |
| Q2 FY1999 | 30 Jun 1999 | 5.70B | +242.61% | 2.28B | -3.41B | 1.58 |
| Q1 FY1999 | 31 Mar 1999 | 5.60B | +211.46% | 2.16B | -3.45B | 1.52 |
| Q4 FY1998 | 31 Dec 1998 | 12.10B | +134.60% | 4.61B | -7.50B | 1.83 |
| Q3 FY1998 | 30 Sept 1998 | 4.02B | +127.14% | 1.17B | -2.85B | 2.20 |
| Q2 FY1998 | 30 Jun 1998 | 1.66B | +15.82% | 785.50M | -876.80M | 1.13 |
| Q1 FY1998 | 31 Mar 1998 | 1.80B | +50.76% | 615.10M | -1.18B | 1.27 |
| Q4 FY1997 | 31 Dec 1997 | 5.16B | +341.44% | 2.23B | -2.93B | 1.88 |
| Q3 FY1997 | 30 Sept 1997 | 1.77B | +67.44% | 667.30M | -1.10B | 2.00 |
| Q2 FY1997 | 30 Jun 1997 | 1.44B | +33.37% | 878.20M | -557.10M | 1.69 |
| Q1 FY1997 | 31 Mar 1997 | 1.19B | +21.75% | 510.90M | -682.00M | 1.44 |
| Q4 FY1996 | 31 Dec 1996 | 1.17B | +30.41% | 559.00M | -609.70M | 1.37 |
| Q3 FY1996 | 30 Sept 1996 | 1.06B | -9.36% | 480.60M | -576.50M | 1.26 |
| Q2 FY1996 | 30 Jun 1996 | 1.08B | -18.77% | 430.80M | -645.40M | 1.31 |
| Q1 FY1996 | 31 Mar 1996 | 979.80M | -1.20% | 440.40M | -539.40M | 1.20 |
| Q4 FY1995 | 31 Dec 1995 | 896.20M | -25.39% | 486.20M | -410.00M | 1.09 |
| Q3 FY1995 | 30 Sept 1995 | 1.17B | -10.78% | 478.50M | -687.70M | 1.48 |
| Q2 FY1995 | 30 Jun 1995 | 1.32B | +3.90% | 393.30M | -931.50M | 1.72 |
| Q1 FY1995 | 31 Mar 1995 | 991.70M | -9.08% | 361.60M | -630.10M | 1.33 |
| Q4 FY1994 | 31 Dec 1994 | 1.20B | -39.33% | 486.10M | -715.10M | 1.67 |
| Q3 FY1994 | 30 Sept 1994 | 1.31B | +40.91% | 433.30M | -873.80M | 1.86 |
| Q2 FY1994 | 30 Jun 1994 | 1.28B | +133.28% | 442.80M | -832.30M | 1.86 |
| Q1 FY1994 | 31 Mar 1994 | 1.09B | +96.49% | 412.30M | -678.40M | 1.58 |
| Q4 FY1993 | 31 Dec 1993 | 1.98B | +8.55% | 1.68B | -298.00M | 0.88 |
| Q3 FY1993 | 30 Sept 1993 | 927.60M | +74.26% | 381.30M | -546.30M | 1.42 |
| Q2 FY1993 | 30 Jun 1993 | 546.60M | +11.62% | 613.40M | 66.80M | 0.85 |
| Q1 FY1993 | 31 Mar 1993 | 555.10M | +14.24% | 623.50M | 68.40M | 0.90 |
| Q4 FY1992 | 31 Dec 1992 | 1.82B | +225.13% | 2.24B | 419.00M | 0.79 |
| Q3 FY1992 | 30 Sept 1992 | 532.30M | +7.62% | 547.40M | 15.10M | 0.90 |
| Q2 FY1992 | 30 Jun 1992 | 489.70M | +15.85% | 1.22B | 729.50M | 0.85 |
| Q1 FY1992 | 31 Mar 1992 | 485.90M | +19.77% | 654.50M | 168.60M | 0.86 |
| Q4 FY1991 | 31 Dec 1991 | 561.00M | +1.32% | 624.50M | 63.50M | 1.01 |
| Q3 FY1991 | 30 Sept 1991 | 494.60M | +2.42% | 617.10M | 122.50M | 0.91 |
| Q2 FY1991 | 30 Jun 1991 | 422.70M | -5.52% | 459.10M | 36.40M | 0.82 |
| Q1 FY1991 | 31 Mar 1991 | 405.70M | -1.53% | 510.10M | 104.40M | 0.80 |
| Q4 FY1990 | 31 Dec 1990 | 553.70M | +48.13% | 733.10M | 179.40M | 1.11 |
| Q3 FY1990 | 30 Sept 1990 | 482.90M | +43.21% | 541.30M | 58.40M | 0.98 |
| Q2 FY1990 | 30 Jun 1990 | 447.40M | — | 591.60M | 144.20M | 0.93 |
| Q1 FY1990 | 31 Mar 1990 | 412.00M | — | 569.40M | 157.40M | 0.87 |
| Q4 FY1989 | 31 Dec 1989 | 373.80M | — | 670.70M | 296.90M | 0.81 |
| Q3 FY1989 | 30 Sept 1989 | 337.20M | — | 529.70M | 192.50M | 0.75 |
Figures in USD at the end of each period. Net cash is cash and short-term investments less total debt; book value per share is on the diluted share count. The latest column is the most recent quarter.
Total debt counts commercial paper, term debt and lease liabilities.
See also:Revenue,Net income,EPS,Shares outstanding,Operating income,Cash on hand,Free cash flow,Stock buybacks,Balance sheet
Common questions about US Bancorp's debt
Source: Financial Modeling Prep
