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	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Operating activities
Income after income taxes	$ 1,723	$ 1,600
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	276	198
Depreciation and amortization	558	355
Share-based compensation expense	73	82
Deferred income tax expense	12	164
Net change in:
Trading account securities	(102)	15
Loans held for sale	(159)	464
Other assets	(915)	(1,109)
Other liabilities	289	893
Other, net	4	8
Net cash provided by operating activities	1,759	2,670
Investing activities
Change in interest bearing deposits in banks	(24)	287
Net cash paid from business combinations	0	(223)
Proceeds from:
Maturities and calls of available-for-sale securities	1,743	3,298
Maturities and calls of held-to-maturity securities	1,132	2,306
Maturities and calls of other securities	596	829
Sales of available-for-sale securities	738	0
Sales of other securities	143	9
Purchases of available-for-sale securities	(1,710)	(6,365)
Purchases of held-to-maturity securities	(255)	(2,845)
Purchases of other securities	(603)	(1,009)
Net proceeds from sales of portfolio loans and leases	355	937
Principal payments received under direct finance and sales-type leases	1,411	1,389
Net loan and lease activity, excluding sales and purchases	(3,273)	(8,375)
Purchases of premises and equipment	(80)	(165)
Purchases of loans and leases	(52)	(569)
Net accrued income and other receivables activity	126	96
Other, net	65	54
Net cash (used in) provided by investing activities	312	(10,346)
Financing activities
Increase in deposits	953	3,050
Increase (decrease) in short-term borrowings	(1,066)	783
Net proceeds from issuance of long-term debt	14,897	5,379
Maturity/redemption of long-term debt	(11,632)	(1,902)
Dividends paid on preferred stock	(97)	(84)
Dividends paid on common stock	(674)	(673)
Net proceeds from issuance of preferred stock	317	0
Other, net	(38)	(23)
Net cash provided by financing activities	2,660	6,530
Increase (decrease) in cash and cash equivalents	4,731	(1,146)
Cash and cash equivalents at beginning of period	6,704	5,522
Cash and cash equivalents at end of period	11,435	4,376
Supplemental disclosures:
Interest paid	2,342	269
Income taxes (received) paid	6	(113)
Non-cash activities
Loans transferred to held-for-sale from portfolio	336	764
Loans transferred to portfolio from held-for-sale	18	65
Transfer of securities from available-for-sale to held-to-maturity	$ 0	$ 4,225