Quarterly report pursuant to Section 13 or 15(d)

NONINTEREST INCOME

v3.23.3
NONINTEREST INCOME
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
NONINTEREST INCOME NONINTEREST INCOME
Huntington earns a variety of revenue including interest and fees from customers as well as revenues from non-customers. Certain sources of revenue are recognized within interest or fee income and are outside of the scope of ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Other sources of revenue fall within the scope of ASC 606 and are generally recognized within noninterest income. These revenues are included within various sections of the Unaudited Consolidated Financial Statements. The following table shows Huntington’s total noninterest income segregated between contracts with customers within the scope of ASC 606 and those within the scope of other GAAP Topics.
(dollar amounts in millions) Three months ended September 30, Nine months ended September 30,
Noninterest income 2023 2022 2023 2022
Noninterest income from contracts with customers $ 338  $ 345  $ 1,047  $ 975 
Noninterest income within the scope of other GAAP topics 171  153  469  507 
Total noninterest income $ 509  $ 498  $ 1,516  $ 1,482 
The following table illustrates the disaggregation by operating segment and major revenue stream and reconciles disaggregated revenue to segment revenue presented in Note 16 “Segment Reporting”.
(dollar amounts in millions) Consumer & Regional Banking Commercial Banking Treasury / Other Huntington Consolidated
Major Revenue Streams
Three months ended September 30, 2023
Service charges on deposit accounts $ 78  $ 19  $ —  $ 97 
Card and payment processing income 89  7  —  96 
Trust and investment management services 58  4  —  62 
Insurance income 29  2  —  31 
Capital markets fees 2  25  (1) 26 
Other noninterest income 9  18  (1) 26 
Net revenue from contracts with customers 265  75  (2) 338 
Noninterest income within the scope of
other GAAP topics
 42  81  48  171 
Total noninterest income $ 307  $ 156  $ 46  $ 509 
Three months ended September 30, 2022
Service charges on deposit accounts $ 73  $ 20  $ —  $ 93 
Card and payment processing income 84  6  —  90 
Trust and investment management services 59  1  —  60 
Insurance income 25  2  1  28 
Capital markets fees 3  37  (2) 38 
Other noninterest income 8  29  (1) 36 
Net revenue from contracts with customers 252  95  (2) 345 
Noninterest income within the scope of
other GAAP topics
 53  85  15  153 
Total noninterest income $ 305  $ 180  $ 13  $ 498 
Nine months ended September 30, 2023
Service charges on deposit accounts $ 211  $ 56  $ —  $ 267 
Card and payment processing income 258  20  —  278 
Trust and investment management services 181  11  —  192 
Insurance income 88  7  —  95 
Capital markets fees 9  71  (1) 79 
Other noninterest income 79  59  (2) 136 
Net revenue from contracts with customers 826  224  (3) 1,047 
Noninterest income within the scope of
other GAAP topics
 127  255  87  469 
Total noninterest income $ 953  $ 479  $ 84  $ 1,516 
Nine months ended September 30, 2022
Service charges on deposit accounts $ 230  $ 65  $ —  $ 295 
Card and payment processing income 242  17  —  259 
Trust and investment management services 185  3  —  188 
Insurance income 79  6  1  86 
Capital markets fees 9  48  (2) 55 
Other noninterest income 21  72  (1) 92 
Net revenue from contracts with customers 766  211  (2) 975 
Noninterest income within the scope of
other GAAP topics
 213  259  35  507 
Total noninterest income $ 979  $ 470  $ 33  $ 1,482 
Huntington generally provides services for customers in which it acts as principal. Payment terms and conditions vary amongst services and customers, and thus impact the timing and amount of revenue recognition. Some fees may be paid before any service is rendered and accordingly, such fees are deferred until the obligations pertaining to those fees are satisfied. Most Huntington contracts with customers are cancelable by either party without penalty or they are short-term in nature, with a contract duration of less than one year. Accordingly, most revenue deferred for the reporting period ended September 30, 2023 is expected to be earned within one year. Huntington does not have significant balances of contract assets or contract liabilities and any change in those balances during the reporting period ended September 30, 2023 was determined to be immaterial.