Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME (Tables)

v3.19.3
OTHER COMPREHENSIVE INCOME (Tables)
 9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Components of other comprehensive income
The components of Huntington's OCI for the three-month and nine-month periods ended September 30, 2019 and 2018, were as follows:
 
Three Months Ended
September 30, 2019
 
Tax (expense)
(dollar amounts in millions)
Pretax
 
Benefit
 
After-tax
Unrealized gains (losses) on available-for-sale securities arising during the period
$
81

 
$
(18
)
 
$
63

Less: Reclassification adjustment for realized net losses (gains) included in net income
8

 
(2
)
 
6

Net change in unrealized holding gains (losses) on available-for-sale securities
89

 
(20
)
 
69

Net change in fair value on cash flow hedges
36

 
(8
)
 
28

Net change in pension and other post-retirement obligations
1

 
—

 
1

Total other comprehensive income (loss)
$
126

 
$
(28
)
 
$
98

 
Three Months Ended
September 30, 2018
 
Tax (expense)
(dollar amounts in millions)
Pretax
 
Benefit
 
After-tax
Unrealized gains (losses) on available-for-sale securities arising during the period
$
(82
)
 
$
18

 
$
(64
)
Less: Reclassification adjustment for realized net losses (gains) included in net income
3

 
(1
)
 
2

Net change in unrealized gains (losses) on available-for-sale securities
(79
)
 
17

 
(62
)
Net change in pension and other post-retirement obligations
2

 
(1
)
 
1

Total other comprehensive income (loss)
$
(77
)
 
$
16

 
$
(61
)
Activity in accumulated other comprehensive income, net of tax
Activity in accumulated OCI for the three and nine month periods ended September 30, 2019 and 2018, were as follows:
(dollar amounts in millions)
Unrealized gains (losses) on
debt securities (1)
 
Change in fair value related to cash flow hedges
 
Unrealized gains
(losses) for
pension and
other post-
retirement
obligations
 
Total
Three Months Ended September 30, 2019
 
 
 
 
 
 
 
Balance, beginning of period
$
(83
)
 
$
54

 
$
(244
)
 
$
(273
)
Other comprehensive income before reclassifications
63

 
28

 
—

 
91

Amounts reclassified from accumulated OCI to earnings
6

 
—

 
1

 
7

Period change
69

 
28

 
1

 
98

Balance, end of period
$
(14
)
 
$
82

 
$
(243
)
 
$
(175
)
 
 
 
 
 
 
 
 
Three Months Ended September 30, 2018
 
 
 
 
 
 
 
Balance, beginning of period
$
(482
)
 
$
—

 
$
(248
)
 
$
(730
)
Other comprehensive income before reclassifications
(64
)
 
—

 
—

 
(64
)
Amounts reclassified from accumulated OCI to earnings
2

 
—

 
1

 
3

Period change
(62
)
 
—

 
1

 
(61
)
Other
1

 
 
 
 
 
1

Balance, end of period
$
(543
)
 
$
—

 
$
(247
)
 
$
(790
)

(dollar amounts in millions)
Unrealized gains (losses) on
debt securities (1)
 
Change in fair value related to cash flow hedges
 
Unrealized gains
(losses) for
pension and
other post-
retirement
obligations
 
Total
Nine Months Ended September 30, 2019
 
 
 
 
 
 
 
Balance, beginning of period
$
(363
)
 
$
—

 
$
(246
)
 
$
(609
)
Other comprehensive income before reclassifications
333

 
82

 
—

 
415

Amounts reclassified from accumulated OCI to earnings
16

 
—

 
3

 
19

Period change
349

 
82

 
3

 
434

Balance, end of period
$
(14
)
 
$
82

 
$
(243
)
 
$
(175
)
 
 
 
 
 
 
 
 
Nine Months Ended September 30, 2018
 
 
 
 
 
 
 
Balance, beginning of period
$
(278
)
 
$
—

 
$
(250
)
 
$
(528
)
Cumulative-effect adjustments (ASU 2016-01)
(1
)
 
 
 
 
 
(1
)
Other comprehensive income before reclassifications
(281
)
 
—

 
—

 
(281
)
Amounts reclassified from accumulated OCI to earnings
17

 
—

 
3

 
20

Period change
(264
)
 
—

 
3

 
(261
)
Balance, end of period
$
(543
)
 
$
—

 
$
(247
)
 
$
(790
)
(1)
AOCI amounts at September 30, 2019, June 30, 2019 and September 30, 2018 include $126 million, $131 million and $141 million, respectively, of net unrealized losses on securities transferred from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. The net unrealized losses will be recognized in earnings over the remaining life of the security using the effective interest method.
Reclassification Out Of Accumulated OCI
The following table presents the reclassification adjustments out of accumulated OCI included in net income and the impacted line items as listed on the Unaudited Condensed Consolidated Statements of Income for the three-month and nine-month periods ended September 30, 2019 and 2018:
 
Reclassifications out of accumulated OCI
Accumulated OCI components
Amounts reclassified from accumulated OCI
 
Location of net gain (loss) reclassified from
accumulated OCI into earnings
 
Three Months Ended
 
 
(dollar amounts in millions)
September 30, 2019
 
September 30, 2018
 
 
Gains (losses) on debt securities:
 
 
 
 
 
Amortization of unrealized gains (losses)
$
(4
)
 
$
(3
)
 
Interest income - held-to-maturity securities - taxable
Realized gain (loss) on sale of securities
(4
)
 
—

 
Noninterest income - net gains (losses) on sale of securities
Total before tax
(8
)
 
(3
)
 
 
Tax (expense) benefit
2

 
1

 
 
Net of tax
$
(6
)
 
$
(2
)
 
 
Amortization of defined benefit pension and post-retirement items:
 
 
Actuarial gains (losses)
$
(1
)
 
$
(2
)
 
Noninterest income
Net periodic benefit costs
—

 
—

 
Noninterest income
Total before tax
(1
)
 
(2
)
 
 
Tax (expense) benefit
—

 
1

 
 
Net of tax
$
(1
)
 
$
(1
)
 
 
 
 
 
 
 
 
 
Reclassifications out of accumulated OCI
Accumulated OCI components
Amounts reclassified from accumulated OCI
 
Location of net gain (loss) reclassified from accumulated OCI into earnings
 
Nine Months Ended
 
 
(dollar amounts in millions)
September 30, 2019
 
September 30, 2018
 
 
Gains (losses) on debt securities:
 
 
 
 
 
Amortization of unrealized gains (losses)
$
(11
)
 
$
(9
)
 
Interest income - held-to-maturity securities - taxable
Realized gain (loss) on sale of securities
(10
)
 
(12
)
 
Noninterest income - net gains (losses) on sale of securities
Total before tax
(21
)
 
(21
)
 
 
Tax (expense) benefit
5

 
4

 
 
Net of tax
$
(16
)
 
$
(17
)
 
 
Amortization of defined benefit pension and post-retirement items:
Actuarial gains (losses)
$
(4
)
 
$
(6
)
 
Noninterest income
Net periodic benefit costs
1

 
2

 
Noninterest income
Total before tax
(3
)
 
(4
)
 
 
Tax (expense) benefit
—

 
1

 
 
Net of tax
$
(3
)
 
$
(3
)