Annual report pursuant to Section 13 and 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS

v3.22.0.1
GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
Business segments are based on segment leadership structure, which reflects how segment performance is monitored and assessed. We have four major business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG). The Treasury / Other function includes technology and operations, other unallocated assets, liabilities, revenue, and expense.
A rollforward of goodwill by business segment, is presented in the table below:
  Consumer &          
  Business Commercial Vehicle   Treasury/ Huntington
(dollar amounts in millions) Banking Banking Finance RBHPCG Other Consolidated
Balance, December 31, 2020 1,393  427  —  170  —  1,990 
TCF acquisition 2,026  1,272  —  61  —  3,359 
Balance, December 31, 2021 $ 3,419  $ 1,699  $ —  $ 231  $ —  $ 5,349 

For additional information on the acquisition, refer to Note 2 “Acquisition of TCF Financial Corporation”.
Goodwill is not amortized but is evaluated for impairment on an annual basis at October 1 of each year or whenever events or changes in circumstances indicate the carrying value may not be recoverable. No impairment was recorded in 2021 or 2020.
At December 31, 2021 and 2020, Huntington’s other intangible assets consisted of the following:
(dollar amounts in millions) Gross
Carrying
Amount		 Accumulated
Amortization		 Net
Carrying
Value
December 31, 2021
Core deposit intangible $ 389  $ (175) $ 214 
Customer relationship 108  (80) 28 
Total other intangible assets $ 497  $ (255) $ 242 
December 31, 2020
Core deposit intangible $ 310  $ (150) $ 160 
Customer relationship 101  (70) 31 
Total other intangible assets $ 411  $ (220) $ 191 
The estimated amortization expense of other intangible assets for the next five years is as follows:
(dollar amounts in millions)
Amortization
Expense
2022 $ 53 
2023 49 
2024 45 
2025 42 
2026 28