Quarterly report pursuant to Section 13 or 15(d)

NONINTEREST INCOME

v3.23.2
NONINTEREST INCOME
 6 Months Ended
Jun. 30, 2023
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 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 June 30, Six months ended June 30,
Noninterest income 2023 2022 2023 2022
Noninterest income from contracts with customers $ 332  $ 322  $ 709  $ 630 
Noninterest income within the scope of other GAAP topics 163  163  298  354 
Total noninterest income $ 495  $ 485  $ 1,007  $ 984 
The following table illustrates the disaggregation by operating segment and major revenue stream and reconciles disaggregated revenue to segment revenue presented in Note 16 “Segment Reporting”.
(dollar amounts in millions) Consumer & Regional Banking Commercial Banking Treasury / Other Huntington Consolidated
Major Revenue Streams
Three months ended June 30, 2023
Service charges on deposit accounts $ 69  $ 18  $ —  $ 87 
Card and payment processing income 89  7  —  96 
Trust and investment management services 61  7  —  68 
Insurance income 27  3  —  30 
Capital markets fees 4  20  —  24 
Other noninterest income 7  21  (1) 27 
Net revenue from contracts with customers 257  76  (1) 332 
Noninterest income within the scope of
other GAAP topics
 45  91  27  163 
Total noninterest income $ 302  $ 167  $ 26  $ 495 
Three months ended June 30, 2022
Service charges on deposit accounts $ 83  $ 22  $ —  $ 105 
Card and payment processing income 84  5  —  89 
Trust and investment management services 61  2  —  63 
Insurance income 26  2  (1) 27 
Capital markets fees 4  7  —  11 
Other noninterest income 6  21  —  27 
Net revenue from contracts with customers 264  59  (1) 322 
Noninterest income within the scope of
other GAAP topics
 68  91  4  163 
Total noninterest income $ 332  $ 150  $ 3  $ 485 
Six months ended June 30, 2023
Service charges on deposit accounts $ 133  $ 37  $ —  $ 170 
Card and payment processing income 169  13  —  182 
Trust and investment management services 123  7  —  130 
Insurance income 59  5  —  64 
Capital markets fees 7  46  —  53 
Other noninterest income 70  41  (1) 110 
Net revenue from contracts with customers 561  149  (1) 709 
Noninterest income within the scope of
other GAAP topics
 85  174  39  298 
Total noninterest income $ 646  $ 323  $ 38  $ 1,007 
Six months ended June 30, 2022
Service charges on deposit accounts $ 157  $ 45  $ —  $ 202 
Card and payment processing income 158  11  —  169 
Trust and investment management services 126  2  —  128 
Insurance income 54  4  —  58 
Capital markets fees 6  11  —  17 
Other noninterest income 13  43  —  56 
Net revenue from contracts with customers 514  116  —  630 
Noninterest income within the scope of
other GAAP topics
 160  174  20  354 
Total noninterest income $ 674  $ 290  $ 20  $ 984 
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 June 30, 2023 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 June 30, 2023 was determined to be immaterial.