OPERATING LEASES (Notes)
|12 Months Ended
Dec. 31, 2020
|OPERATING LEASES At December 31, 2020, Huntington was obligated under non-cancelable leases for branch and office space. These leases are all classified as operating due to the amount of time such spaces are occupied relative to the underlying assets useful lives. Many of these leases contain renewal options, most of which are not included in measurement of the right-of-use asset as they are not considered reasonably certain of exercise (i.e., Huntington does not currently have a significant economic incentive to exercise these options). Some leases contain escalation clauses calling for rentals to be adjusted for increased real estate taxes and other operating expenses or proportionately adjusted for increases in the consumer or other price indices. Occasionally, Huntington will sublease the land and buildings for which it has obtained the right to use; substantially all of those sublease arrangements are classified as operating, with sublease income recognized on a straight-line basis over the contractual term of the arrangement.
Net lease assets and liabilities at December 31, 2020 and 2019 are as follows:
Net lease cost for the years ended December 31, 2020 and 2019 are as follows:
Maturity of lease liabilities at December 31, 2020 are as follows:
Additional supplemental information related to the Company’s operating leases as of December 31, 2020 and 2019 are as follows:
The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef