| Schedule of Net Benefit Costs [Table Text Block] |
The following table shows the components of net periodic benefit expense of the Plan and the Post-Retirement Benefit Plan:
| |
|
Pension Benefits |
|
|
Post Retirement Benefits |
|
| |
|
Three Months Ended |
|
|
Three Months Ended |
|
| |
|
September 30, |
|
|
September 30, |
|
| (dollar amounts in thousands) |
|
2012 |
|
|
2011 |
|
|
2012 |
|
|
2011 |
|
| Service cost |
$ |
6,217 |
|
$ |
5,412 |
|
$ |
--- |
|
$ |
--- |
|
| Interest cost |
|
7,304 |
|
|
7,518 |
|
|
338 |
|
|
404 |
|
| Expected return on plan assets |
|
(11,432) |
|
|
(10,822) |
|
|
--- |
|
|
--- |
|
| Amortization of transition asset |
|
(1) |
|
|
(1) |
|
|
--- |
|
|
--- |
|
| Amortization of prior service cost |
|
(1,442) |
|
|
(1,442) |
|
|
(339) |
|
|
(338) |
|
| Amortization of gains (losses) |
|
6,739 |
|
|
5,873 |
|
|
(83) |
|
|
(106) |
|
| Settlements |
|
1,750 |
|
|
1,750 |
|
|
--- |
|
|
--- |
|
| Benefit expense |
$ |
9,135 |
|
$ |
8,288 |
|
$ |
(84) |
|
$ |
(40) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Pension Benefits |
|
|
Post Retirement Benefits |
|
| |
|
Nine Months Ended |
|
|
Nine Months Ended |
|
| |
|
September 30, |
|
|
September 30, |
|
| (dollar amounts in thousands) |
|
2012 |
|
|
2011 |
|
|
2012 |
|
|
2011 |
|
| Service cost |
$ |
18,651 |
|
$ |
16,238 |
|
$ |
--- |
|
$ |
--- |
|
| Interest cost |
|
21,912 |
|
|
22,554 |
|
|
1,013 |
|
|
1,214 |
|
| Expected return on plan assets |
|
(34,297) |
|
|
(32,468) |
|
|
--- |
|
|
--- |
|
| Amortization of transition asset |
|
(3) |
|
|
(3) |
|
|
--- |
|
|
--- |
|
| Amortization of prior service cost |
|
(4,326) |
|
|
(4,326) |
|
|
(1,015) |
|
|
(1,014) |
|
| Amortization of gains |
|
20,218 |
|
|
17,621 |
|
|
(249) |
|
|
(318) |
|
| Settlements |
|
5,250 |
|
|
5,250 |
|
|
--- |
|
|
--- |
|
| Benefit expense |
$ |
27,405 |
|
$ |
24,866 |
|
$ |
(251) |
|
$ |
(118) |
|
|
| Schedule of Allocation of Plan Assets [Table Text Block] |
The Bank, as trustee, held all Plan assets at September 30, 2012, and December 31, 2011. The Plan assets consisted of investments in a variety of Huntington mutual funds and Huntington common stock as follows:
| |
|
Fair Value |
| (dollar amounts in thousands) |
September 30, 2012 |
|
December 31, 2011 |
| Cash |
$ |
1,786 |
--- |
% |
|
$ |
25 |
--- |
% |
| Cash equivalents: |
|
|
|
|
|
|
|
|
|
| |
Huntington funds - money market |
|
22,911 |
4 |
|
|
|
39,943 |
7 |
|
| Fixed income: |
|
|
|
|
|
|
|
|
|
| |
Huntington funds - fixed income funds |
|
107,122 |
17 |
|
|
|
174,615 |
32 |
|
| |
Corporate obligations |
|
124,530 |
19 |
|
|
|
--- |
--- |
|
| |
U.S. Government Agencies |
|
34,893 |
5 |
|
|
|
--- |
--- |
|
| Equities: |
|
|
|
|
|
|
|
|
|
| |
Huntington funds |
|
312,303 |
49 |
|
|
|
283,963 |
53 |
|
| |
Huntington common stock |
|
39,998 |
6 |
|
|
|
40,424 |
8 |
|
| Fair value of plan assets |
$ |
643,543 |
100 |
% |
|
$ |
538,970 |
100 |
% |
|
| Schedule of Costs of Retirement Plans [Table Text Block] |
The following table shows the costs of providing the SERP, SRIP, and defined contribution plans:
| |
|
|
|
|
|
| |
|
Three Months Ended |
|
|
Nine Months Ended |
| |
|
September 30, |
|
|
September 30, |
| (dollar amounts in millions) |
|
2012 |
|
|
2011 |
|
|
2012 |
|
|
2011 |
| SERP & SRIP |
$ |
0.8 |
|
$ |
0.7 |
|
$ |
2.5 |
|
$ |
2.1 |
| Defined contribution plan |
|
4.2 |
|
|
3.8 |
|
|
12.8 |
|
|
11.3 |
| Benefit cost |
$ |
5.0 |
|
$ |
4.5 |
|
$ |
15.3 |
|
$ |
13.4 |
|