Huntington Bancshares Incorporated Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating activities
Income after income taxes	$ 606	$ 462
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	85	25
Depreciation and amortization	142	112
Share-based compensation expense	25	40
Deferred income tax expense	55	52
Net change in:
Trading account securities	1	(28)
Loans held for sale	44	461
Other assets	(348)	(171)
Other liabilities	(456)	(102)
Other, net	(24)	(2)
Net cash provided by operating activities	130	849
Investing activities
Change in interest bearing deposits in banks	(6)	388
Proceeds from:
Maturities and calls of available-for-sale securities	432	1,376
Maturities and calls of held-to-maturity securities	320	928
Maturities and calls of other securities	0	383
Sales of available-for-sale securities	435	0
Purchases of available-for-sale securities	(1,168)	(3,866)
Purchases of held-to-maturity securities	(254)	(1,460)
Purchases of other securities	(586)	(796)
Net proceeds from sales of portfolio loans and leases	89	447
Principal payments received under direct finance and sales-type leases	487	222
Net loan and lease activity, excluding sales and purchases	(2,272)	(1,691)
Purchases of premises and equipment	(25)	(73)
Purchases of loans and leases	(12)	(396)
Net accrued income and other receivables activity	92	(867)
Other, net	169	50
Net cash (used in) provided by investing activities	(2,299)	(5,355)
Financing activities
(Decrease) increase in deposits	(2,636)	3,702
Increase in short-term borrowings	5,128	557
Net proceeds from issuance of long-term debt	3,541	39
Maturity/redemption of long-term debt	(268)	(533)
Dividends paid on preferred stock	(29)	(28)
Dividends paid on common stock	(225)	(225)
Net proceeds from issuance of preferred stock	317	0
Other, net	6	(4)
Net cash provided by financing activities	5,834	3,508
Increase (decrease) in cash and cash equivalents	3,665	(998)
Cash and cash equivalents at beginning of period	6,704	5,522
Cash and cash equivalents at end of period	10,369	4,524
Supplemental disclosures:
Interest paid	562	61
Income taxes (received) paid	(59)	(18)
Non-cash activities
Loans transferred to held-for-sale from portfolio	80	356
Loans transferred to portfolio from held-for-sale	6	19
Transfer of securities from available-for-sale to held-to-maturity	$ 0	$ 4,225