Annual report pursuant to Section 13 and 15(d)

OTHER COMPREHENSIVE INCOME (Tables)

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OTHER COMPREHENSIVE INCOME (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Components of Accumulated Other Comprehensive Income
The components of Huntington’s OCI for the years ended December 31, 2021, 2020, and 2019, were as follows:
(dollar amounts in millions) Pretax Tax (expense) benefit After-tax
Year Ended December 31, 2021
Unrealized (losses) gains on available-for-sale securities arising during the period (474) 107  (367)
Less: Reclassification adjustment for realized net losses (gains) included in net income 34  (8) 26 
Total unrealized (losses) gains on available-for-sale securities (440) 99  (341)
Change in fair value related to cash flow hedges (144) 39  (105)
Foreign currency translation adjustment (1) (12) —  (12)
Net unrealized gains (losses) on net investment hedges — 
Translation adjustments, net of hedges (1) (3) —  (3)
Change in accumulated unrealized gains (losses) for pension and other post-retirement obligations 36  (8) 28 
Other comprehensive loss (551) 130  (421)
Year Ended December 31, 2020 — 
Unrealized gains (losses) on available-for-sale securities arising during the period 235  (52) 183 
Less: Reclassification adjustment for realized net losses (gains) included in net income 42  (9) 33 
Total unrealized gains (losses) on available-for-sale securities 277  (61) 216 
Change in fair value related to cash flow hedges 302  (68) 234 
Change in accumulated unrealized (losses) gains for pension and other post-retirement obligations (2) (3) (2)
Other comprehensive income 576  (128) 448 
Year Ended December 31, 2019
Unrealized gains (losses) on available-for-sale securities arising during the period 403  (89) 314 
Less: Reclassification adjustment for realized net losses (gains) included in net income 26  (5) 21 
Total unrealized gains (losses) on available-for-sale securities 429  (94) 335 
Change in fair value related to cash flow hedges 26  (3) 23 
Change in accumulated unrealized gains (losses) for pension and other post-retirement obligations (7) (5)
Other comprehensive income 448  (95) 353 
(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.
Activity in Accumulated Other Comprehensive Income
Activity in accumulated OCI for the years ended December 31, 2021 and 2020 were as follows:
(dollar amounts in millions) Unrealized (losses)
gains on
debt
securities (1)
Change in fair value related to cash flow hedges Translation adjustments, net of hedges Unrealized
(losses) gains for
pension and other
 post-retirement
obligations
Total
December 31, 2018 $ (363) $ —  $ —  $ (246) $ (609)
Other comprehensive income before reclassifications $ 314  $ 23  $ —  $ —  $ 337 
Amounts reclassified from accumulated OCI to earnings $ 21  $ —  $ —  $ (5) $ 16 
Period change $ 335  $ 23  $ —  $ (5) $ 353 
December 31, 2019 $ (28) $ 23  $ —  $ (251) $ (256)
Other comprehensive income before reclassifications 183  234  —  —  417 
Amounts reclassified from accumulated OCI to earnings 33  —  —  (2) 31 
Period change 216  234  —  (2) 448 
December 31, 2020 188  257  —  (253) 192 
Other comprehensive income before reclassifications (367) (105) (3) —  (475)
Amounts reclassified from accumulated OCI to earnings 26  —  —  28  54 
Period change (341) (105) (3) 28  (421)
December 31, 2021 $ (153) $ 152  $ (3) $ (225) $ (229)
(1)AOCI amounts at December 31, 2021, 2020, and 2019 include $35 million, $69 million and $121 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.