Annual report pursuant to Section 13 and 15(d)

Variable Interest Entities (Tables)

v3.22.4
Variable Interest Entities (Tables)
12 Months Ended
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Carrying amount and classification of the trusts assets and liabilities, and affordable housing tax credit investments
The following tables provide a summary of the assets and liabilities included in Huntington’s Consolidated Financial Statements, as well as the maximum exposure to losses, associated with its interests related to unconsolidated VIEs for which Huntington holds an interest in, but is not the primary beneficiary of, the VIE.
At December 31, 2022
(dollar amounts in millions) Total Assets Total Liabilities Maximum Exposure to Loss
Affordable Housing Tax Credit Partnerships $ 2,036  $ 1,260  $ 2,036 
Trust Preferred Securities 14  248  — 
Other Investments 522  141  522 
Total $ 2,572  $ 1,649  $ 2,558 
At December 31, 2021
(dollar amounts in millions) Total Assets Total Liabilities Maximum Exposure to Loss
Affordable Housing Tax Credit Partnerships $ 1,652  $ 949  $ 1,652 
Trust Preferred Securities 14  248  — 
Other Investments 484  146  484 
Total $ 2,150  $ 1,343  $ 2,136 
The following table presents the balances of Huntington’s affordable housing tax credit investments and related unfunded commitments.
At December 31,
(dollar amounts in millions) 2022 2021
Affordable housing tax credit investments $ 2,891  $ 2,376 
Less: amortization (855) (724)
Net affordable housing tax credit investments $ 2,036  $ 1,652 
Unfunded commitments $ 1,260  $ 949 
The following table presents other information relating to Huntington’s affordable housing tax credit investments.
  
Year Ended December 31,
(dollar amounts in millions) 2022 2021 2020
Tax credits and other tax benefits recognized $ 203  $ 144  $ 113 
Proportional amortization expense included in provision for income taxes 170  126  97 
There was no impairment recognized for the years ended December 31, 2022 and 2021, and 2020.