Quarterly report pursuant to Section 13 or 15(d)

NONINTEREST INCOME

v3.21.2
NONINTEREST INCOME
 9 Months Ended
Sep. 30, 2021
Revenue from Contract with Customer [Abstract]  
NONINTEREST INCOME NONINTEREST INCOME
Huntington earns a variety of revenue including interest and fees from customers as well as revenues from non-customers. Certain sources of revenue are recognized within interest or fee income and are outside of the scope of ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). Other sources of revenue fall within the scope of ASC 606 and are generally recognized within noninterest income. These revenues are included within various sections of the Unaudited Condensed Consolidated Financial Statements. The following table shows Huntington’s total noninterest income segregated between contracts with customers within the scope of ASC 606 and those within the scope of other GAAP Topics.
(dollar amounts in millions) Three Months Ended September 30, Nine Months Ended September 30,
Noninterest income 2021 2020 2021 2020
Noninterest income from contracts with customers $ 315  $ 224  $ 794  $ 652 
Noninterest income within the scope of other GAAP topics 220  206  580  530 
Total noninterest income $ 535  $ 430  $ 1,374  $ 1,182 
The following table illustrates the disaggregation by operating segment and major revenue stream and reconciles disaggregated revenue to segment revenue presented in Note 17 “Segment Reporting”.
Three Months Ended September 30, 2021
(dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated
Major Revenue Streams
Service charges on deposit accounts $ 89  $ 23  $ 1  $ 1  $ —  $ 114 
Card and payment processing income 85  6  —  —  —  91 
Trust and investment management services 17  —  —  44  —  61 
Insurance income 12  2  —  11  —  25 
Other noninterest income 8  5  1  2  8  24 
Net revenue from contracts with customers $ 211  $ 36  $ 2  $ 58  $ 8  $ 315 
Noninterest income within the scope of
other GAAP topics
 91  114  2  —  13  220 
Total noninterest income $ 302  $ 150  $ 4  $ 58  $ 21  $ 535 
Three Months Ended September 30, 2020
(dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated
Major Revenue Streams
Service charges on deposit accounts $ 54  $ 19  $ 2  $ 1  $ —  $ 76 
Card and payment processing income 59  4  —  —  —  63 
Trust and investment management services 13  1  —  34  —  48 
Insurance income 12  2  —  11  (1) 24 
Other noninterest income 6  6  1  3  (3) 13 
Net revenue from contracts with customers $ 144  $ 32  $ 3  $ 49  $ (4) $ 224 
Noninterest income within the scope of
other GAAP topics
 130  58  (1) (2) 21  206 
Total noninterest income $ 274  $ 90  $ 2  $ 47  $ 17  $ 430 
Nine Months Ended September 30, 2021
(dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated
Major Revenue Streams
Service charges on deposit accounts $ 201  $ 64  $ 4  $ 2  $ —  $ 271 
Card and payment processing income 211  14  —  —  —  225 
Trust and investment management services 45  1  —  122  —  168 
Insurance income 38  5  —  33  1  77 
Other noninterest income 19  14  2  7  11  53 
Net revenue from contracts with customers $ 514  $ 98  $ 6  $ 164  $ 12  $ 794 
Noninterest income within the scope of
other GAAP topics
 266  255  3  1  55  580 
Total noninterest income $ 780  $ 353  $ 9  $ 165  $ 67  $ 1,374 
Nine Months Ended September 30, 2020
(dollar amounts in millions) Consumer & Business Banking Commercial Banking Vehicle Finance RBHPCG Treasury / Other Huntington Consolidated
Major Revenue Streams
Service charges on deposit accounts $ 161  $ 54  $ 4  $ 3  $ —  $ 222 
Card and payment processing income 163  11  —  —  —  174 
Trust and investment management services 33  3  —  104  —  140 
Insurance income 32  5  —  34  1  72 
Other noninterest income 18  14  2  11  (1) 44 
Net revenue from contracts with customers $ 407  $ 87  $ 6  $ 152  $ —  $ 652 
Noninterest income within the scope of
other GAAP topics
 297  174  1  (1) 59  530 
Total noninterest income $ 704  $ 261  $ 7  $ 151  $ 59  $ 1,182 
Huntington generally provides services for customers in which it acts as principal. Payment terms and conditions vary amongst services and customers, and thus impact the timing and amount of revenue recognition. Some fees may be paid before any service is rendered and accordingly, such fees are deferred until the obligations pertaining to those fees are satisfied. Most Huntington contracts with customers are cancelable by either party without penalty or they are short-term in nature, with a contract duration of less than one year. Accordingly, most revenue deferred for the reporting period ended September 30, 2021 is expected to be earned within one year. Huntington does not have significant balances of contract assets or contract liabilities and any change in those balances during the reporting period ended September 30, 2021 was determined to be immaterial.