Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME (Tables)

v3.20.2
OTHER COMPREHENSIVE INCOME (Tables)
 6 Months Ended
Jun. 30, 2020
Equity [Abstract]  
Components of other comprehensive income
The components of Huntington’s OCI for the three-month and six-month periods ended June 30, 2020 and 2019, were as follows:
 
 
 
 
 
 
 
Three Months Ended
June 30, 2020
 
Tax (expense)
(dollar amounts in millions)
Pretax
 
Benefit
 
After-tax
Unrealized gains (losses) on available-for-sale securities arising during the period
$
57

 
$
(13
)
 
$
44

Less: Reclassification adjustment for realized net losses (gains) included in net income
23

 
(5
)
 
18

Net change in unrealized holding gains (losses) on available-for-sale securities
80

 
(18
)
 
62

Net change in fair value on cash flow hedges
14

 
(3
)
 
11

Net change in pension and other post-retirement obligations (1)
(12
)
 
2

 
(10
)
Total other comprehensive income (loss)
$
82

 
$
(19
)
 
$
63

(1)    Includes a settlement gain recognized in other noninterest income on the Unaudited Condensed Consolidated Statements of Income.
 
 
 
 
 
 
 
Three Months Ended
June 30, 2019
 
Tax (expense)
(dollar amounts in millions)
Pretax
 
Benefit
 
After-tax
Unrealized gains (losses) on available-for-sale securities arising during the period
$
163

 
$
(36
)
 
$
127

Less: Reclassification adjustment for realized net losses (gains) included in net income
9

 
(2
)
 
7

Net change in unrealized gains (losses) on available-for-sale securities
172

 
(38
)
 
134

Net change in fair value on cash flow hedges
60

 
(13
)
 
47

Net change in pension and other post-retirement obligations
1

 
—

 
1

Total other comprehensive income (loss)
$
233

 
$
(51
)
 
$
182

 
Six Months Ended
June 30, 2020
 
Tax (expense)
(dollar amounts in millions)
Pretax
 
Benefit
 
After-tax
Unrealized holding gains (losses) on available-for-sale securities arising during the period
$
274

 
$
(61
)
 
$
213

Less: Reclassification adjustment for realized net losses (gains) included in net income
28

 
(6
)
 
22

Net change in unrealized holding gains (losses) on available-for-sale securities
302

 
(67
)
 
235

Net change in fair value on cash flow hedges
409

 
(90
)
 
319

Net change in pension and other post-retirement obligations (1)
(10
)
 
2

 
(8
)
Total other comprehensive income (loss)
$
701

 
$
(155
)
 
$
546

(1)    Includes a settlement gain recognized in other noninterest income on the Unaudited Condensed Consolidated Statements of Income.
 
Six Months Ended
June 30, 2019
 
Tax (expense)
(dollar amounts in millions)
Pretax
 
Benefit
 
After-tax
Unrealized holding gains (losses) on available-for-sale securities arising during the period
$
347

 
$
(77
)
 
$
270

Less: Reclassification adjustment for realized net losses (gains) included in net income
13

 
(3
)
 
10

Net change in unrealized holding gains (losses) on available-for-sale securities
360

 
(80
)
 
280

Net change in fair value on cash flow hedges
68

 
(14
)
 
54

Net change in pension and other post-retirement obligations
2

 
—

 
2

Total other comprehensive income (loss)
$
430

 
$
(94
)
 
$
336


Activity in accumulated other comprehensive income, net of tax
Activity in accumulated OCI for the three-month and six-month periods ended June 30, 2020 and 2019, 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 (2)
 
Total
Three Months Ended June 30, 2020
 
 
 
 
 
 
 
Balance, beginning of period
$
145

 
$
331

 
$
(249
)
 
$
227

Other comprehensive income before reclassifications
44

 
11

 
—

 
55

Amounts reclassified from accumulated OCI to earnings
18

 
—

 
(10
)
 
8

Period change
62

 
11

 
(10
)
 
63

Balance, end of period
$
207

 
$
342

 
$
(259
)
 
$
290

 
 
 
 
 
 
 
 
Three Months Ended June 30, 2019
 
 
 
 
 
 
 
Balance, beginning of period
$
(217
)
 
$
7

 
$
(245
)
 
$
(455
)
Other comprehensive income before reclassifications
127

 
47

 
—

 
174

Amounts reclassified from accumulated OCI to earnings
7

 
—

 
1

 
8

Period change
134

 
47

 
1

 
182

Balance, end of period
$
(83
)
 
$
54

 
$
(244
)
 
$
(273
)

(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 (2)
 
Total
Six Months Ended June 30, 2020
 
 
 
 
 
 
 
Balance, beginning of period
$
(28
)
 
$
23

 
$
(251
)
 
$
(256
)
Other comprehensive income before reclassifications
213

 
319

 
—

 
532

Amounts reclassified from accumulated OCI to earnings
22

 
—

 
(8
)
 
14

Period change
235

 
319

 
(8
)
 
546

Balance, end of period
$
207

 
$
342

 
$
(259
)
 
$
290

 
 
 
 
 
 
 
 
Six Months Ended June 30, 2019
 
 
 
 
 
 
 
Balance, beginning of period
$
(363
)
 
$
—

 
$
(246
)
 
$
(609
)
Other comprehensive income before reclassifications
270

 
54

 
—

 
324

Amounts reclassified from accumulated OCI to earnings
10

 
—

 
2

 
12

Period change
280

 
54

 
2

 
336

Balance, end of period
$
(83
)
 
$
54

 
$
(244
)
 
$
(273
)
(1)
AOCI amounts at June 30, 2020, March 31, 2020 and June 30, 2019 include $81 million, $87 million and $131 million,
Reclassification Out Of Accumulated OCI 1)
AOCI amounts at June 30, 2020, March 31, 2020 and June 30, 2019 include $81 million, $87 million and $131 million, respectively, net of 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.
(2)
Amounts for the three months and six months ended June 30, 2020 include a settlement gain recognized in other noninterest income on the Unaudited Condensed Consolidated Statements of Income.