| Schedule of Net Benefit Costs [Table Text Block] |
The following table shows the components of net periodic benefit expense of the Plan and the Post-Retirement Benefit Plan:
| |
|
Pension Benefits |
|
|
Post Retirement Benefits |
|
| |
|
Three Months Ended |
|
|
Three Months Ended |
|
| |
|
June 30, |
|
|
June 30, |
|
| (dollar amounts in thousands) |
|
2012 |
|
|
2011 |
|
|
2012 |
|
|
2011 |
|
| Service cost |
$ |
6,217 |
|
$ |
5,413 |
|
$ |
--- |
|
$ |
--- |
|
| Interest cost |
|
7,304 |
|
|
7,518 |
|
|
337 |
|
|
405 |
|
| Expected return on plan assets |
|
(11,433) |
|
|
(10,823) |
|
|
--- |
|
|
--- |
|
| Amortization of transition asset |
|
(1) |
|
|
(1) |
|
|
--- |
|
|
--- |
|
| Amortization of prior service cost |
|
(1,442) |
|
|
(1,442) |
|
|
(338) |
|
|
(338) |
|
| Amortization of gains (losses) |
|
6,740 |
|
|
5,874 |
|
|
(83) |
|
|
(106) |
|
| Settlements |
|
1,750 |
|
|
1,750 |
|
|
--- |
|
|
--- |
|
| Benefit expense |
$ |
9,135 |
|
$ |
8,289 |
|
$ |
(84) |
|
$ |
(39) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Pension Benefits |
|
|
Post Retirement Benefits |
|
| |
|
Six Months Ended |
|
|
Six Months Ended |
|
| |
|
June 30, |
|
|
June 30, |
|
| (dollar amounts in thousands) |
|
2012 |
|
|
2011 |
|
|
2012 |
|
|
2011 |
|
| Service cost |
$ |
12,434 |
|
$ |
10,826 |
|
$ |
--- |
|
$ |
--- |
|
| Interest cost |
|
14,608 |
|
|
15,036 |
|
|
675 |
|
|
810 |
|
| Expected return on plan assets |
|
(22,865) |
|
|
(21,646) |
|
|
--- |
|
|
--- |
|
| Amortization of transition asset |
|
(2) |
|
|
(2) |
|
|
--- |
|
|
--- |
|
| Amortization of prior service cost |
|
(2,884) |
|
|
(2,884) |
|
|
(676) |
|
|
(676) |
|
| Amortization of gains |
|
13,479 |
|
|
11,748 |
|
|
(166) |
|
|
(212) |
|
| Settlements |
|
3,500 |
|
|
3,500 |
|
|
--- |
|
|
--- |
|
| Benefit expense |
$ |
18,270 |
|
$ |
16,578 |
|
$ |
(167) |
|
$ |
(78) |
|
|
| Schedule of Allocation of Plan Assets [Table Text Block] |
The Bank, as trustee, held all Plan assets at June 30, 2012, and December 31, 2011. The Plan assets consisted of investments in a variety of Huntington mutual funds and Huntington common stock as follows:
| |
|
Fair Value |
| (dollar amounts in thousands) |
June 30, 2012 |
|
December 31, 2011 |
| Cash |
$ |
478 |
--- |
% |
|
$ |
25 |
--- |
% |
| Cash equivalents: |
|
|
|
|
|
|
|
|
|
| |
Huntington funds - money market |
|
3,018 |
1 |
|
|
|
39,943 |
7 |
|
| Fixed income: |
|
|
|
|
|
|
|
|
|
| |
Huntington funds - fixed income funds |
|
203,162 |
37 |
|
|
|
174,615 |
32 |
|
| Equities: |
|
|
|
|
|
|
|
|
|
| |
Huntington funds |
|
303,508 |
55 |
|
|
|
283,963 |
53 |
|
| |
Huntington common stock |
|
39,964 |
7 |
|
|
|
40,424 |
8 |
|
| Fair value of plan assets |
$ |
550,130 |
100 |
% |
|
$ |
538,970 |
100 |
% |
|
| Schedule of Costs of Retirement Plans [Table Text Block] |
The following table shows the costs of providing the SERP, SRIP, and defined contribution plans:
| |
|
|
|
|
|
| |
|
Three Months Ended |
|
|
Six Months Ended |
| |
|
June 30, |
|
|
June 30, |
| (dollar amounts in millions) |
|
2012 |
|
|
2011 |
|
|
2012 |
|
|
2011 |
| SERP & SRIP |
$ |
0.8 |
|
$ |
0.7 |
|
$ |
1.7 |
|
$ |
1.4 |
| Defined contribution plan |
|
4.1 |
|
|
3.8 |
|
|
8.6 |
|
|
7.5 |
| Benefit cost |
$ |
4.9 |
|
$ |
4.5 |
|
$ |
10.3 |
|
$ |
8.9 |
|