Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND OTHER INTANGIBLE ASSETS

v3.21.2
GOODWILL AND OTHER INTANGIBLE ASSETS
 9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Disclosure 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 for the first nine-month period of 2021 is presented in the table below.
(dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington
Consolidated
Balance, December 31, 2020 $ 1,393  $ 427  $ —  $ 170  $ —  $ 1,990 
TCF acquisition 2,006  1,260  —  60  —  3,326 
Balance, September 30, 2021 $ 3,399  $ 1,687  $ —  $ 230  $ —  $ 5,316 
For additional information on the acquisition, refer to Note 2 “Acquisition of TCF Financial Corporation”.
At September 30, 2021 and December 31, 2020, Huntington’s other intangible assets consisted of the following:
(dollar amounts in millions) Gross
Carrying
Amount		 Accumulated
Amortization		 Net
Carrying
Value
September 30, 2021
Core deposit intangible $ 389  $ (165) $ 224 
Customer relationship 108  (77) 31 
Total other intangible assets $ 497  $ (242) $ 255 
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 remainder of 2021 and the next five years is as follows:
(dollar amounts in millions)
Amortization
Expense
2021 $ 14 
2022 53 
2023 49 
2024 45 
2025 42 
2026 29