Annual report pursuant to Section 13 and 15(d)

OTHER COMPREHENSIVE INCOME (Tables)

v3.3.1.900
OTHER COMPREHENSIVE INCOME (Tables)
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Components of other comprehensive income
The components of Huntington’s OCI in the three years ended December 31, 2015, 2014, and 2013, were as follows:
 
 
2015
 
Tax (expense)
(dollar amounts in thousands)
Pretax
 
Benefit
 
After-tax
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold
$
19,606

 
$
(6,933
)
 
$
12,673

Unrealized holding gains (losses) on available-for-sale debt securities arising during the period
(26,021
)
 
9,108

 
(16,913
)
Less: Reclassification adjustment for net losses (gains) included in net income
(3,901
)
 
1,365

 
(2,536
)
Net change in unrealized holding gains (losses) on available-for-sale debt securities
(10,316
)
 
3,540

 
(6,776
)
Net change in unrealized holding gains (losses) on available-for-sale equity securities
(474
)
 
166

 
(308
)
Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period
12,966

 
(4,538
)
 
8,428

Less: Reclassification adjustment for net (gains) losses included in net income
(220
)
 
77

 
(143
)
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships
12,746

 
(4,461
)
 
8,285

Net change in pension and other post-retirement obligations
(7,795
)
 
2,728

 
(5,067
)
Total other comprehensive income (loss)
$
(5,839
)
 
$
1,973

 
$
(3,866
)
 
2014
 
 
 
Tax (expense)
 
 
(dollar amounts in thousands)
Pretax
 
Benefit
 
After-tax
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold
$
13,583

 
$
(4,803
)
 
$
8,780

Unrealized holding gains (losses) on available-for-sale debt securities arising during the period
86,618

 
(30,914
)
 
55,704

Less: Reclassification adjustment for net losses (gains) included in net income
(15,559
)
 
5,446

 
(10,113
)
Net change in unrealized holding gains (losses) on available-for-sale debt securities
84,642

 
(30,271
)
 
54,371

Net change in unrealized holding gains (losses) on available-for-sale equity securities
295

 
(103
)
 
192

Unrealized gains (losses) on derivatives used in cash flow hedging relationships arising during the period
14,141

 
(4,949
)
 
9,192

Less: Reclassification adjustment for net (gains) losses included in net income
(3,971
)
 
1,390

 
(2,581
)
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships
10,170

 
(3,559
)
 
6,611

Net change in pension and other post-retirement obligations
(106,857
)
 
37,400

 
(69,457
)
Total other comprehensive income (loss)
$
(11,750
)
 
$
3,467

 
$
(8,283
)
 
2013
 
 
 
Tax (expense)
 
 
(dollar amounts in thousands)
Pretax
 
Benefit
 
After-tax
Noncredit-related impairment recoveries (losses) on debt securities not expected to be sold
$
235

 
$
(82
)
 
$
153

Unrealized holding gains (losses) on available-for-sale debt securities arising during the period
(125,919
)
 
44,191

 
(81,728
)
Less: Reclassification adjustment for net gains (losses) included in net income
6,211

 
(2,174
)
 
4,037

Net change in unrealized holding gains (losses) on available-for-sale debt securities
(119,473
)
 
41,935

 
(77,538
)
Net change in unrealized holding gains (losses) on available-for-sale equity securities
151

 
(53
)
 
98

Unrealized gains and losses on derivatives used in cash flow hedging relationships arising during the period
(86,240
)
 
30,184

 
(56,056
)
Less: Reclassification adjustment for net losses (gains) losses included in net income
(15,188
)
 
5,316

 
(9,872
)
Net change in unrealized gains (losses) on derivatives used in cash flow hedging relationships
(101,428
)
 
35,500

 
(65,928
)
Re-measurement obligation
136,452

 
(47,758
)
 
88,694

Defined benefit pension items
(13,106
)
 
4,588

 
(8,518
)
Net change in pension and post-retirement obligations
123,346

 
(43,170
)
 
80,176

Total other comprehensive income (loss)
$
(97,404
)
 
$
34,212

 
$
(63,192
)
Activity in accumulated other comprehensive income, net of tax
Activity in accumulated OCI for the two years ended December 31, were as follows:
 
(dollar amounts in thousands)
Unrealized
gains and
(losses) on
debt
securities (1)
 
Unrealized
gains and
(losses) on
equity
securities
 
Unrealized
gains and
(losses) on
cash flow
hedging
derivatives
 
Unrealized
gains
(losses) for
pension and
other post-
retirement
obligations
 
Total
December 31, 2013
$
(39,234
)
 
$
292

 
$
(18,844
)
 
$
(156,223
)
 
$
(214,009
)
Other comprehensive income before reclassifications
64,484

 
192

 
9,192

 

 
73,868

Amounts reclassified from accumulated OCI to earnings
(10,113
)
 

 
(2,581
)
 
(69,457
)
 
(82,151
)
Period change
54,371

 
192

 
6,611

 
(69,457
)
 
(8,283
)
December 31, 2014
15,137

 
484

 
(12,233
)
 
(225,680
)
 
(222,292
)
Other comprehensive income before reclassifications
(4,240
)
 
(308
)
 
8,428

 

 
3,880

Amounts reclassified from accumulated OCI to earnings
(2,536
)
 

 
(143
)
 
(5,067
)
 
(7,746
)
Period change
(6,776
)
 
(308
)
 
8,285

 
(5,067
)
 
(3,866
)
December 31, 2015
$
8,361

 
$
176

 
$
(3,948
)
 
$
(230,747
)
 
$
(226,158
)
 
(1)
Amount at December 31, 2015 includes $9 million of net unrealized gains on securities transferred from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. The net unrealized gains 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 Consolidated Statements of Income for the years ended December 31, 2015 and 2014:

 
Reclassifications out of accumulated OCI
Accumulated OCI components
Amounts reclassed
from accumulated OCI
 
Location of net gain (loss)
reclassified from accumulated OCI into earnings
(dollar amounts in thousands)
2015
 
2014
 
 
Gains (losses) on debt securities:
 
 
 
 
 
Amortization of unrealized gains (losses)
$
(144
)
 
$
597

 
Interest income—held-to-maturity securities—taxable
Realized gain (loss) on sale of securities
6,485

 
14,962

 
Noninterest income—net gains (losses) on sale of securities
OTTI recorded
(2,440
)
 

 
Noninterest income—net gains (losses) on sale of securities
Total before tax
3,901

 
15,559

 
 
Tax (expense) benefit
(1,365
)
 
(5,446
)
 
 
Net of tax
$
2,536

 
$
10,113

 
 
Gains (losses) on cash flow hedging relationships:
 
 
 
 
 
Interest rate contracts
$
210

 
$
4,064

 
Interest and fee income—loans and leases
Interest rate contracts
10

 
(93
)
 
Noninterest expense—other income
Total before tax
220

 
3,971

 
 
Tax (expense) benefit
(77
)
 
(1,390
)
 
 
Net of tax
$
143

 
$
2,581

 
 
Amortization of defined benefit pension and post-retirement items:
 
 
 
 
 
Actuarial gains (losses)
$
5,827

 
$
106,857

 
Noninterest expense—personnel costs
Net periodic benefit costs
1,968

 

 
Noninterest expense—personnel costs
Total before tax
7,795

 
106,857

 
 
Tax (expense) benefit
(2,728
)
 
(37,400
)
 
 
Net of tax
$
5,067

 
$
69,457