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The components of Huntington’s OCI for the years ended December 31, 2021, 2020, and 2019, were as follows:
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| (dollar amounts in millions) |
Pretax |
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Tax (expense) benefit |
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After-tax |
| Year Ended December 31, 2021 |
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| Unrealized (losses) gains on available-for-sale securities arising during the period |
(474) |
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107 |
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(367) |
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| Less: Reclassification adjustment for realized net losses (gains) included in net income |
34 |
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(8) |
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26 |
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| Total unrealized (losses) gains on available-for-sale securities |
(440) |
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99 |
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(341) |
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| Change in fair value related to cash flow hedges |
(144) |
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39 |
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(105) |
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| Foreign currency translation adjustment (1) |
(12) |
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— |
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(12) |
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| Net unrealized gains (losses) on net investment hedges |
9 |
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— |
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9 |
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| Translation adjustments, net of hedges (1) |
(3) |
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— |
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(3) |
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| Change in accumulated unrealized gains (losses) for pension and other post-retirement obligations |
36 |
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(8) |
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28 |
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| Other comprehensive loss |
(551) |
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130 |
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(421) |
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| Year Ended December 31, 2020 |
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— |
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| Unrealized gains (losses) on available-for-sale securities arising during the period |
235 |
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(52) |
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183 |
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| Less: Reclassification adjustment for realized net losses (gains) included in net income |
42 |
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(9) |
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33 |
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| Total unrealized gains (losses) on available-for-sale securities |
277 |
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(61) |
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216 |
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| Change in fair value related to cash flow hedges |
302 |
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(68) |
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234 |
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| Change in accumulated unrealized (losses) gains for pension and other post-retirement obligations (2) |
(3) |
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1 |
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(2) |
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| Other comprehensive income |
576 |
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(128) |
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448 |
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| Year Ended December 31, 2019 |
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| Unrealized gains (losses) on available-for-sale securities arising during the period |
403 |
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(89) |
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314 |
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| Less: Reclassification adjustment for realized net losses (gains) included in net income |
26 |
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(5) |
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21 |
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| Total unrealized gains (losses) on available-for-sale securities |
429 |
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(94) |
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335 |
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| Change in fair value related to cash flow hedges |
26 |
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(3) |
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23 |
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| Change in accumulated unrealized gains (losses) for pension and other post-retirement obligations |
(7) |
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2 |
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(5) |
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| Other comprehensive income |
448 |
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(95) |
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353 |
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(1)Foreign investments are deemed to be permanent in nature and, therefore, Huntington does not provide for taxes on foreign currency translation adjustments.
(2)Includes a settlement gain recognized in other noninterest income on the Consolidated Statements of Income.
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