Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS

v3.22.4
GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
Business segments are based on segment leadership structure, which reflects how segment performance is monitored and assessed. We have four major business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG). The Treasury / Other function includes technology and operations, other unallocated assets, liabilities, revenue, and expense.
A rollforward of goodwill by business segment for which goodwill is allocated is presented in the table below. No goodwill impairment was recorded in 2022 or 2021.
  Consumer & Commercial   Huntington
(dollar amounts in millions) Business Banking Banking RBHPCG Consolidated
Balance, January 1, 2020 $ 1,393  $ 427  $ 170  $ 1,990 
TCF acquisition 2,026  1,272  61  3,359 
Balance, December 31, 2021 3,419  1,699  231  5,349 
Acquisitions —  222  —  222 
Balance, December 31, 2022 $ 3,419  $ 1,921  $ 231  $ 5,571 
For additional information on the acquisitions, refer to Note 3 “Business Combinations.”
Huntington’s other intangible assets consisted of the following:
(dollar amounts in millions) Gross
Carrying
Amount		 Accumulated
Amortization		 Net
Carrying
Value
At December 31, 2022
Core deposit intangible $ 385  $ (216) $ 169 
Customer relationship 107  (81) 26 
Total other intangible assets $ 492  $ (297) $ 195 
At December 31, 2021
Core deposit intangible $ 389  $ (175) $ 214 
Customer relationship 108  (80) 28 
Total other intangible assets $ 497  $ (255) $ 242 
The estimated amortization expense of other intangible assets for the next five years is as follows:
(dollar amounts in millions)
Amortization
Expense
2023 $ 51 
2024 47 
2025 44 
2026 29 
2027 10