Annual report pursuant to Section 13 and 15(d)

SHAREHOLDERS' EQUITY

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SHAREHOLDERS' EQUITY
 12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
SHAREHOLDERS' EQUITY SHAREHOLDERS’ EQUITY
The following is a summary of Huntington’s non-cumulative, non-voting, perpetual preferred stock outstanding.
(dollar amounts in millions) Carrying Amount
Series Issuance Date Shares Outstanding Dividend Rate Earliest Optional Redemption Date (1) December 31, 2022 December 31, 2021
Series B (2) 12/28/2011 35,500 
3-mo. LIBOR + 270 bps
 1/15/2017 $ 23  $ 23 
Series E (3) 2/27/2018 5,000  5.70  4/15/2023 495  495 
Series F (3) 5/27/2020 5,000  5.625  7/15/2030 494  494 
Series G (3) 8/3/2020 5,000  4.45  10/15/2027 494  494 
Series H (2) 2/2/2021 500,000  4.50  4/15/2026 486  486 
Series I (4) 6/9/2021 7,000  5.70  12/01/2022 175  175 
Total 557,500  $ 2,167  $ 2,167 
(1)Redeemable at Huntington’s option on the date stated or on a quarterly basis thereafter. Earlier redemption is solely at Huntington’s option, subject to any required prior approval of Federal Reserve.
(2)Series B and H of preferred stock have a liquidation value and redemption price per share of $1,000, plus any declared and unpaid dividends.
(3)Series E, F, and G, preferred stock have a liquidation value and redemption price per share of $100,000, plus any declared and unpaid dividends.
(4)Series I preferred stock has a liquidation value and redemption price per share of $25,000, plus any declared and unpaid dividends.
The following table presents the dividends declared for each series of Preferred shares.
Year Ended December 31,
2022 2021 2020
(amounts in millions, except per share data) Cash Dividend Declared Per Share Cash Dividend Declared Per Share Cash Dividend Declared Per Share
Preferred Series Amount ($) Amount ($) Amount ($)
Series B $ 46.68  $ (2) $ 28.69  $ (1) $ 35.91  $ (1)
Series C —  —  44.07  (4) 58.76  (6)
Series D —  —  31.25  (18) 62.50  (37)
Series E 5,700.00  (29) 5,700.00  (29) 5,700.00  (29)
Series F 5,625.00  (28) 5,625.00  (28) 3,468.75  (17)
Series G 4,450.00  (22) 4,450.00  (23) 1,915.97  (10)
Series H 45.00  (22) 42.00  (21) —  — 
Series I 1,425.00  (10) 1,068.75  (7) —  — 
Total $ (113) $ (131) $ (100)
On July 15, 2021, all $600 million of outstanding 6.250% Series D Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share, were redeemed.
On October 15, 2021, all $100 million of outstanding 5.875% Series C Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share, were redeemed.
Treasury shares
Treasury shares includes shares held for deferred compensation plans, at cost, of $80 million at December 31, 2022 and $79 million at December 31, 2021.
Non-controlling Interest in Subsidiaries
Through the acquisition of TCF, Huntington acquired a joint venture in which Huntington maintains a 55% ownership interest. As Huntington has a controlling financial interest, its financial results are consolidated in Huntington's financial statements and the other party’s 45% ownership interest is reported as a non-controlling interest within equity.