Quarterly report [Sections 13 or 15(d)]

REVENUE FROM CONTRACTS WITH CUSTOMERS

v3.25.1
REVENUE FROM CONTRACTS WITH CUSTOMERS
 3 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUE FROM CONTRACTS WITH CUSTOMERS REVENUE FROM CONTRACTS WITH CUSTOMERS
Revenue is segregated based on the nature of product and services offered as part of contractual arrangements. 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. The following table presents total noninterest income disaggregated by operating segment and segregated between revenue with contracts with customers within the scope of ASC 606 and revenue within the scope of other GAAP topics.
(dollar amounts in millions) Consumer & Regional Banking Commercial Banking Treasury / Other Huntington Consolidated
Major Revenue Streams
Three months ended March 31, 2025
Payments and cash management revenue $ 108  $ 32  $ —  $ 140 
Wealth and asset management revenue 95  6  —  101 
Customer deposit and loan fees 52  2  —  54 
Capital markets and advisory fees 4  26  —  30 
Leasing revenue 1  3  —  4 
Insurance income 17  3  —  20 
Other noninterest income 1  1  —  2 
Net revenue from contracts with customers 278  73  —  351 
Noninterest income within the scope of other GAAP topics
 49  89  5  143 
Total noninterest income $ 327  $ 162  $ 5  $ 494 
Three months ended March 31, 2024
Payments and cash management revenue $ 107  $ 27  $ —  $ 134 
Wealth and asset management revenue 85  3  —  88 
Customer deposit and loan fees 50  4  —  54 
Capital markets and advisory fees 4  25  —  29 
Leasing revenue 1  9  —  10 
Insurance income 16  3  —  19 
Other noninterest income 2  —  —  2 
Net revenue from contracts with customers 265  71  —  336 
Noninterest income within the scope of other GAAP topics
 43  74  14  131 
Total noninterest income $ 308  $ 145  $ 14  $ 467 
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 March 31, 2025 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 March 31, 2025 was determined to be immaterial.