Annual report pursuant to Section 13 and 15(d)

Benefit Plans (Tables)

v2.4.1.9
Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2014
Benefit Plans [Abstract]  
Schedule of Assumptions Used [Table Text Block]

The following table shows the weighted-average assumptions used to determine the benefit obligation at December 31, 2014 and 2013, and the net periodic benefit cost for the years then ended

Pension Post-Retirement
Benefits Benefits
2014 2013 2014 2013
Weighted-average assumptions used to determine benefit obligations
Discount rate 4.12 % 4.89 % 3.72 % 4.27 %
Rate of compensation increase N/A N/A N/A N/A
Weighted-average assumptions used to determine net periodic benefit cost
Discount rate (1) (2) 4.89 4.15 4.11 3.28
Expected return on plan assets 7.25 7.63 N/A N/A
Rate of compensation increase N/A 4.50 N/A N/A
N/A - Not Applicable
(1) The 2013 pension benefit expense was remeasured as of July 1, 2013. The discount rate was 3.83% from January 1, 2013 to July 1, 2013,
and was changed to 4.47% for the period from July 1, 2013 to December 31, 2013.
(2) The 2014 post-retirement benefit expense was remeasured as of July 31, 2014. The discount rate was 4.27% from January 1, 2014 to
July 31, 2014, and was changed to 3.89% for the period from July 31, 2014 to December 31, 2014.
Schedule of Accumulated and Projected Benefit Obligations [Table Text Block]

The following table reconciles the beginning and ending balances of the benefit obligation of the Plan and the post-retirement benefit plan with the amounts recognized in the consolidated balance sheets at December 31:

Pension Post-Retirement
Benefits Benefits
(dollar amounts in thousands) 2014 2013 2014 2013
Projected benefit obligation at beginning of measurement year $ 684,999 $ 783,778 $ 25,669 $ 27,787
Changes due to:
Service cost 1,740 25,122 --- ---
Interest cost 32,398 30,112 856 862
Benefits paid (16,221) (14,886) (3,401) (3,170)
Settlements (27,045) (19,363) --- ---
Plan amendments --- (13,559) (8,782) ---
Plan curtailments --- (7,875) --- ---
Medicare subsidies --- --- 462 564
Actuarial assumptions and gains and losses (1) 123,723 (98,330) 1,159 (374)
Total changes 114,595 (98,779) (9,706) (2,118)
Projected benefit obligation at end of measurement year $ 799,594 $ 684,999 $ 15,963 $ 25,669
(1) The 2014 actuarial assumptions include revised mortality tables.
Schedule of Changes in Fair Value of Plan Assets [Table Text Block]

The following table reconciles the beginning and ending balances of the fair value of Plan assets at the December 31, 2014 and 2013 measurement dates:

Pension
Benefits
(dollar amounts in thousands) 2014 2013
Fair value of plan assets at beginning of measurement year $ 649,020 $ 633,617
Changes due to:
Actual return on plan assets 44,312 49,652
Settlements (24,098) (19,363)
Benefits paid (16,221) (14,886)
Total changes 3,993 15,403
Fair value of plan assets at end of measurement year $ 653,013 $ 649,020
Schedule of Net Benefit Costs [Table Text Block]

The following table shows the components of net periodic benefit costs recognized in the three years ended December 31, 2014:

Pension Benefits Post-Retirement Benefits
(dollar amounts in thousands) 2014 2013 2012 2014 2013 2012
Service cost $ 1,740 $ 25,122 $ 24,869 $ --- $ --- $ ---
Interest cost 32,398 30,112 29,215 856 862 1,350
Expected return on plan assets (45,783) (47,716) (45,730) --- --- ---
Amortization of transition asset --- --- (4) --- --- ---
Amortization of prior service cost --- (2,883) (5,767) (1,609) (1,353) (1,353)
Amortization of loss 5,767 23,044 26,956 (571) (600) (332)
Curtailment --- (34,613) --- --- --- ---
Settlements 11,200 8,116 5,405 --- --- ---
Benefit costs $ 5,322 $ 1,182 $ 34,944 $ (1,324) $ (1,091) $ (335)
Schedule of Allocation of Plan Assets [Table Text Block]

At December 31, 2014 and 2013, The Huntington National Bank, as trustee, held all Plan assets. The Plan assets consisted of investments in a variety of corporate and government fixed income investments, Huntington mutual funds and Huntington common stock as follows:

Fair Value
(dollar amounts in thousands) 2014 2013
Cash equivalents:
Huntington funds - money market $ 16,136 2 % $ 803 --- %
Fixed income:
Huntington funds - fixed income funds --- --- 74,048 11
Corporate obligations 218,077 33 180,757 28
U.S. Government Obligations 62,627 10 51,932 8
Mutual funds - fixed income 34,761 5 --- ---
U.S. Government Agencies 7,445 1 6,146 1
Equities:
Mutual funds - equities 147,191 23 --- ---
Other common stock 118,970 18 --- ---
Huntington common stock --- --- 20,324 3
Huntington funds 37,920 6 289,379 45
Exchange Traded Funds 6,840 1 24,705 4
Limited Partnerships 3,046 1 926 ---
Fair value of plan assets $ 653,013 100 % $ 649,020 100 %
Schedule Of Huntington Stock Statistics For Benefit Plan [Table Text Block]

The following table shows the number of shares and dividends received on shares of Huntington stock held by the Plan:

December 31,
(dollar amounts in thousands, except share amounts) 2014 2013
Shares in Huntington common stock (1) --- 2,095,304
Dividends received on shares of Huntington stock $ 267 $ 992
(1)The Plan has acquired and held Huntington common stock in compliance at all times with Section 407 of the Employee Retirement Income Security Act of 1978.
Schedule of Expected Benefit Payments [Table Text Block]

At December 31, 2014, the following table shows when benefit payments were expected to be paid:

Post-
Pension Retirement
(dollar amounts in thousands) Benefits Benefits
2015 $ 48,851 $ 1,419
2016 48,416 1,329
2017 45,378 1,235
2018 43,332 1,154
2019 43,238 1,098
2020 through 2024 209,153 4,997
Schedule of Amounts Recognized in Balance Sheet [Table Text Block]

The following table presents the amounts recognized in the Consolidated Balance Sheets at December 31, 2014 and 2013 for all of Huntington defined benefit plans

(dollar amounts in thousands) 2014 2013
Accrued expenses and other liabilities $ 198,947 $ 90,842
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) [Table Text Block]

The following tables present the amounts recognized in OCI as of December 31, 2014, 2013, and 2012, and the changes in accumulated OCI for the years ended December 31, 2014, 2013, and 2012:

(dollar amounts in thousands) 2014 2013 2012
Net actuarial loss $ (240,197) $ (166,078) $ (262,187)
Prior service cost 14,517 9,855 25,788
Defined benefit pension plans $ (225,680) $ (156,223) $ (236,399)

2014
(dollar amounts in thousands) Pretax Benefit After-tax
Balance, beginning of year $ (240,345) $ 84,122 $ (156,223)
Net actuarial (loss) gain:
Amounts arising during the year (133,085) 46,580 (86,505)
Amortization included in net periodic benefit costs 19,056 (6,670) 12,386
Prior service cost:
Amounts arising during the year 8,781 (3,073) 5,708
Amortization included in net periodic benefit costs (1,609) 563 (1,046)
Transition obligation:
Amortization included in net periodic benefit costs --- --- ---
Balance, end of year $ (347,202) $ 121,522 $ (225,680)
2013
(dollar amounts in thousands) Pretax Benefit After-tax
Balance, beginning of year $ (363,691) $ 127,292 $ (236,399)
Net actuarial (loss) gain:
Amounts arising during the year 118,666 (41,532) 77,134
Amortization included in net periodic benefit costs 29,194 (10,218) 18,976
Prior service cost:
Amounts arising during the year --- --- ---
Amortization included in net periodic benefit costs (24,514) 8,580 (15,934)
Transition obligation:
Amortization included in net periodic benefit costs --- --- ---
Balance, end of year $ (240,345) $ 84,122 $ (156,223)
2012
(dollar amounts in thousands) Pretax Benefit After-tax
Balance, beginning of year $ (285,177) $ 99,813 $ (185,364)
Net actuarial (loss) gain:
Amounts arising during the year (105,527) 36,934 (68,593)
Amortization included in net periodic benefit costs 33,880 (11,858) 22,022
Prior service cost:
Amounts arising during the year --- --- ---
Amortization included in net periodic benefit costs (6,865) 2,403 (4,462)
Transition obligation:
Amortization included in net periodic benefit costs (2) --- (2)
Balance, end of year $ (363,691) $ 127,292 $ (236,399)
Schedule Of Huntington Stock Statistics For Defined Contribution Plan [Table Text Block]

The following table shows the number of shares, market value, and dividends received on shares of Huntington stock held by the defined contribution plan:

December 31,
(dollar amounts in thousands, except share amounts) 2014 2013
Shares in Huntington common stock 12,883,333 13,624,429
Market value of Huntington common stock $ 135,533 $ 131,476
Dividends received on shares of Huntington stock 2,694 2,567
Defined Contribution Plan Disclosures [Table Text Block]

The following table shows the costs of providing the defined contribution plan as of December 31:

Year ended December 31,
(dollar amounts in thousands) 2014 2013 2012
Defined contribution plan $ 31,110 $ 18,238 $ 16,926