Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME (Tables)

v3.19.2
OTHER COMPREHENSIVE INCOME (Tables)
 6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Components of other comprehensive income
The components of Huntington's OCI for the three-month and six-month periods ended June 30, 2019 and 2018, were as follows:
 
Three Months Ended
June 30, 2019
 
Tax (expense)
(dollar amounts in millions)
Pretax
 
Benefit
 
After-tax
Unrealized gains (losses) on available-for-sale securities arising during the period
$
163

 
$
(36
)
 
$
127

Less: Reclassification adjustment for realized net losses (gains) included in net income
9

 
(2
)
 
7

Net change in unrealized holding gains (losses) on available-for-sale securities
172

 
(38
)
 
134

Net change in fair value on cash flow hedges
60

 
(13
)
 
47

Net change in pension and other post-retirement obligations
1

 
—

 
1

Total other comprehensive income (loss)
$
233

 
$
(51
)
 
$
182

 
Three Months Ended
June 30, 2018
 
Tax (expense)
(dollar amounts in millions)
Pretax
 
Benefit
 
After-tax
Unrealized gains (losses) on available-for-sale securities arising during the period
$
(71
)
 
$
15

 
$
(56
)
Less: Reclassification adjustment for realized net losses (gains) included in net income
3

 
—

 
3

Net change in unrealized gains (losses) on available-for-sale securities
(68
)
 
15

 
(53
)
Net change in pension and other post-retirement obligations
1

 
—

 
1

Total other comprehensive income (loss)
$
(67
)
 
$
15

 
$
(52
)
Activity in accumulated other comprehensive income, net of tax
Activity in accumulated OCI for the three and six month periods ended June 30, 2019 and 2018, were as follows:
(dollar amounts in millions)
Unrealized gains (losses) on
debt securities (1)
 
Change in fair value related to cash flow hedges
 
Unrealized gains
(losses) for
pension and
other post-
retirement
obligations
 
Total
Three Months Ended June 30, 2019
 
 
 
 
 
 
 
Balance, beginning of period
$
(217
)
 
$
7

 
$
(245
)
 
$
(455
)
Other comprehensive income before reclassifications
127

 
47

 
—

 
174

Amounts reclassified from accumulated OCI to earnings
7

 
—

 
1

 
8

Period change
134

 
47

 
1

 
182

Balance, end of period
$
(83
)
 
$
54

 
$
(244
)
 
$
(273
)
 
 
 
 
 
 
 
 
Three Months Ended June 30, 2018
 
 
 
 
 
 
 
Balance, beginning of period
$
(428
)
 
$
—

 
$
(249
)
 
$
(677
)
Other comprehensive income before reclassifications
(56
)
 
—

 
—

 
(56
)
Amounts reclassified from accumulated OCI to earnings
3

 
—

 
1

 
4

Period change
(53
)
 
—

 
1

 
(52
)
Other
(1
)
 
 
 
 
 
(1
)
Balance, end of period
$
(482
)
 
$
—

 
$
(248
)
 
$
(730
)

(dollar amounts in millions)
Unrealized gains (losses) on
debt securities (1)
 
Change in fair value related to cash flow hedges
 
Unrealized gains
(losses) for
pension and
other post-
retirement
obligations
 
Total
Six Months Ended June 30, 2019
 
 
 
 
 
 
 
Balance, beginning of period
$
(363
)
 
$
—

 
$
(246
)
 
$
(609
)
Other comprehensive income before reclassifications
270

 
54

 
—

 
324

Amounts reclassified from accumulated OCI to earnings
10

 
—

 
2

 
12

Period change
280

 
54

 
2

 
336

Balance, end of period
$
(83
)
 
$
54

 
$
(244
)
 
$
(273
)
 
 
 
 
 
 
 
 
Six Months Ended June 30, 2018
 
 
 
 
 
 
 
Balance, beginning of period
$
(278
)
 
$
—

 
$
(250
)
 
$
(528
)
Cumulative-effect adjustments (ASU 2016-01)
(1
)
 
 
 
 
 
(1
)
Other comprehensive income before reclassifications
(218
)
 
—

 
—

 
(218
)
Amounts reclassified from accumulated OCI to earnings
15

 
—

 
2

 
17

Period change
(203
)
 
—

 
2

 
(201
)
Balance, end of period
$
(482
)
 
$
—

 
$
(248
)
 
$
(730
)
(1)
AOCI amounts at June 30, 2019, March 31, 2019 and June 30, 2018 include $131 million, $134 million and $144 million, respectively, of net unrealized losses on securities transferred from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. The net unrealized losses will be recognized in earnings over the remaining life of the security using the effective interest method.
Reclassification Out Of Accumulated OCI
The following table presents the reclassification adjustments out of accumulated OCI included in net income and the impacted line items as listed on the Unaudited Condensed Consolidated Statements of Income for the three-month and six-month periods ended June 30, 2019 and 2018:
 
Reclassifications out of accumulated OCI
Accumulated OCI components
Amounts reclassified from accumulated OCI
 
Location of net gain (loss) reclassified from
accumulated OCI into earnings
 
Three Months Ended
 
 
(dollar amounts in millions)
June 30, 2019
 
June 30, 2018
 
 
Gains (losses) on debt securities:
 
 
 
 
 
Amortization of unrealized gains (losses)
$
(3
)
 
$
(3
)
 
Interest income - held-to-maturity securities - taxable
Realized gain (loss) on sale of securities
(6
)
 
—

 
Noninterest income - net gains (losses) on sale of securities
Total before tax
(9
)
 
(3
)
 
 
Tax (expense) benefit
2

 
—

 
 
Net of tax
$
(7
)
 
$
(3
)
 
 
Amortization of defined benefit pension and post-retirement items:
 
 
Actuarial gains (losses)
$
(1
)
 
$
(1
)
 
Noninterest income
Net periodic benefit costs
—

 
—

 
Noninterest income
Total before tax
(1
)
 
(1
)
 
 
Tax (expense) benefit
—

 
—

 
 
Net of tax
$
(1
)
 
$
(1
)
 
 
 
 
 
 
 
 
 
Reclassifications out of accumulated OCI
Accumulated OCI components
Amounts reclassified from accumulated OCI
 
Location of net gain (loss) reclassified from accumulated OCI into earnings
 
Six Months Ended
 
 
(dollar amounts in millions)
June 30, 2019
 
June 30, 2018
 
 
Gains (losses) on debt securities:
 
 
 
 
 
Amortization of unrealized gains (losses)
$
(7
)
 
$
(6
)
 
Interest income - held-to-maturity securities - taxable
Realized gain (loss) on sale of securities
(6
)
 
(12
)
 
Noninterest income - net gains (losses) on sale of securities
Total before tax
(13
)
 
(18
)
 
 
Tax (expense) benefit
3

 
3

 
 
Net of tax
$
(10
)
 
$
(15
)
 
 
Amortization of defined benefit pension and post-retirement items:
Actuarial gains (losses)
$
(3
)
 
$
(3
)
 
Noninterest income
Net periodic benefit costs
1

 
1

 
Noninterest income
Total before tax
(2
)
 
(2
)
 
 
Tax (expense) benefit
—

 
—

 
 
Net of tax
$
(2
)
 
$
(2
)