Huntington Bancshares Incorporated Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Operating activities
Income after income taxes	$ 424	$ 606
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	107	85
Depreciation and amortization	190	142
Share-based compensation expense	20	25
Deferred income tax (benefit) expense	(29)	55
Net change in:
Trading account securities	(42)	1
Loans held for sale	(2)	44
Other assets	(385)	(348)
Other liabilities	184	(456)
Other, net	(3)	(24)
Net cash provided by operating activities	464	130
Investing activities
Change in interest bearing deposits in banks	(15)	(6)
Proceeds from:
Maturities and calls of available-for-sale securities	1,589	432
Maturities and calls of held-to-maturity securities	327	320
Maturities and calls of other securities	9	0
Sales of available-for-sale securities	0	435
Sales of other securities	0	141
Purchases of available-for-sale securities	(3,303)	(1,168)
Purchases of held-to-maturity securities	0	(254)
Purchases of other securities	(11)	(586)
Net proceeds from sales of portfolio loans and leases	71	89
Principal payments received under direct finance and sales-type leases	447	487
Net loan and lease activity, excluding sales and purchases	(1,398)	(2,272)
Purchases of premises and equipment	(32)	(25)
Purchases of loans and leases	(23)	(12)
Net accrued income and other receivables activity	59	92
Other, net	18	28
Net cash used in investing activities	(2,262)	(2,299)
Financing activities
Increase (decrease) in deposits	1,995	(2,636)
Increase (decrease) in short-term borrowings	(505)	5,128
Net proceeds from issuance of long-term debt	2,786	3,541
Maturity/redemption of long-term debt	(156)	(268)
Dividends paid on preferred stock	(36)	(29)
Dividends paid on common stock	(226)	(225)
Net proceeds from issuance of preferred stock	0	317
Other, net	(9)	6
Net cash provided by financing activities	3,849	5,834
Increase in cash and cash equivalents	2,051	3,665
Cash and cash equivalents at beginning of period	10,129	6,704
Cash and cash equivalents at end of period	12,180	10,369
Supplemental disclosures:
Interest paid	1,070	562
Income taxes paid (received)	47	(59)
Non-cash activities
Loans transferred to held-for-sale from portfolio	64	80
Loans transferred to portfolio from held-for-sale	$ 11	$ 6