Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME (Tables)

v3.20.2
OTHER COMPREHENSIVE INCOME (Tables)
 9 Months Ended
Sep. 30, 2020
Equity [Abstract]  
Components of other comprehensive income
The components of Huntington’s OCI for the three-month and nine-month periods ended September 30, 2020 and 2019, were as follows:
Three Months Ended
September 30, 2020
Tax (expense)
(dollar amounts in millions) Pretax Benefit After-tax
Unrealized gains (losses) on available-for-sale securities arising during the period $ —  $ —  $ — 
Less: Reclassification adjustment for realized net losses (gains) included in net income 6  (1) 5 
Net change in unrealized holding gains (losses) on available-for-sale securities 6  (1) 5 
Net change in fair value on cash flow hedges (52) 12  (40)
Net change in pension and other post-retirement obligations 3  (1) 2 
Total other comprehensive income (loss) $ (43) $ 10  $ (33)
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 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 
Nine Months Ended
September 30, 2020
Tax (expense)
(dollar amounts in millions) Pretax Benefit After-tax
Unrealized 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 35  (8) 27 
Net change in unrealized holding gains (losses) on available-for-sale securities 309  (69) 240 
Net change in fair value on cash flow hedges 358  (79) 279 
Net change in pension and other post-retirement obligations (1) (8) 2  (6)
Total other comprehensive income (loss) $ 659  $ (146) $ 513 
(1)    Includes a settlement gain recognized in other noninterest income on the Unaudited Condensed Consolidated Statements of Income.
Nine 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 $ 428  $ (95) $ 333 
Less: Reclassification adjustment for realized net losses (gains) included in net income 21  (5) 16 
Net change in unrealized holding gains (losses) on available-for-sale securities 449  (100) 349 
Net change in fair value on cash flow hedges 104  (22) 82 
Net change in pension and other post-retirement obligations 3  —  3 
Total other comprehensive income (loss) $ 556  $ (122) $ 434 
Activity in accumulated other comprehensive income, net of tax
Activity in accumulated OCI for the three-month and nine-month periods ended September 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 September 30, 2020
Balance, beginning of period $ 207  $ 342  $ (259) $ 290 
Other comprehensive income before reclassifications —  (40) —  (40)
Amounts reclassified from accumulated OCI to earnings 5  —  2  7 
Period change 5  (40) 2  (33)
Balance, end of period $ 212  $ 302  $ (257) $ 257 
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)
(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
Nine Months Ended September 30, 2020
Balance, beginning of period $ (28) $ 23  $ (251) $ (256)
Other comprehensive income before reclassifications 213  279  —  492 
Amounts reclassified from accumulated OCI to earnings 27  —  (6) 21 
Period change 240  279  (6) 513 
Balance, end of period $ 212  $ 302  $ (257) $ 257 
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)
(1)AOCI amounts at September 30, 2020, June 30, 2020 and September 30, 2019 include $74 million, $81 million and $126 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 nine months ended September 30, 2020 include a settlement gain recognized in other noninterest income on the Unaudited Condensed Consolidated Statements of Income.