OTHER COMPREHENSIVE INCOME (Tables)

9 Months Ended

Sep. 30, 2022

Components of other comprehensive income

The components of Huntington’s OCI for the three-month and nine-month periods ended September 30, 2022 and 2021, were as follows:


(dollar amounts in millions)	Pretax		Tax (Expense) benefit		After-tax
Three Months Ended September 30, 2022

Unrealized losses on available-for-sale securities arising during the period	$	(1,265)	$	291	$	(974)
Reclassification adjustment for realized net losses included in net income	4		(1)		3
Total unrealized losses on available-for-sale securities	(1,261)		290		(971)

Net impact of fair value hedges on available-for-sale securities	325		(75)		250


Change in fair value related to cash flow hedges	(591)		135		(456)
Foreign currency translation adjustment (1)	(15)		—		(15)
Net unrealized gains (losses) on net investment hedges	11		—		11
Translation adjustments, net of hedges (1)	(4)		—		(4)
Change in accumulated unrealized gains for pension and other post retirement obligations	3		—		3
Other comprehensive loss	$	(1,528)	$	350	$	(1,178)
Three Months Ended September 30, 2021

Unrealized gains on available-for-sale securities arising during the period	$	(112)	$	26	$	(86)
Reclassification adjustment for realized net losses included in net income	5		(1)		4
Total unrealized losses on available-for-sale securities	(107)		25		(82)




Change in fair value related to cash flow hedges	(43)		14		(29)
Foreign currency translation adjustment (1)	(7)		—		(7)
Net unrealized gains (losses) on net investment hedges	9		—		9
Translation adjustments, net of hedges (1)	2		—		2
Change in accumulated unrealized gains for pension and other post retirement obligations	3		—		3
Other comprehensive income	$	(145)	$	39	$	(106)

Nine Months Ended September 30, 2022

Unrealized losses on available-for-sale securities arising during the period	$	(3,952)	$	909	$	(3,043)
Reclassification adjustment for realized net losses (gains) included in net income	95		(22)		73
Total unrealized gains (losses) on available-for-sale securities	(3,857)		887		(2,970)

Net impact of fair value hedges on available-for-sale securities	917		(212)		705


Change in fair value related to cash flow hedges	(1,012)		230		(782)
Foreign currency translation adjustment (1)	(21)		—		(21)
Net unrealized gains (losses) on net investment hedges	15		—		15
Translation adjustments, net of hedges (1)	(6)		—		(6)
Change in accumulated unrealized gains for pension and other post retirement obligations	8		(2)		6
Other comprehensive loss	$	(3,950)	$	903	$	(3,047)
Nine Months Ended September 30, 2021

Unrealized losses on available-for-sale securities arising during the period	$	(311)	$	70	$	(241)
Reclassification adjustment for realized net losses (gains) included in net income	27		(6)		21
Total unrealized losses on available-for-sale securities	(284)		64		(220)

Net impact of fair value hedges on available-for-sale securities	38		(9)		29


Change in fair value related to cash flow hedges	(173)		42		(131)
Foreign currency translation adjustment (1)	(13)		—		(13)
Net unrealized gains (losses) on net investment hedges	9		—		9
Translation adjustments, net of hedges (1)	(4)		—		(4)
Change in accumulated unrealized gains for pension and other post retirement obligations	12		(3)		9
Other comprehensive loss	$	(411)	$	94	$	(317)

(1)Foreign investments are deemed to be permanent in nature and, therefore, Huntington does not provide for taxes on foreign currency translation adjustments.

Activity in accumulated other comprehensive income, net of tax

Activity in accumulated OCI for the three-month and nine-month periods ended September 30, 2022 and 2021, were as follows:


(dollar amounts in millions)	Unrealized gains (losses) on available-for-sale securities (1)		Net impact of fair value hedges on available-for-sale securities		Change in fair value related to cash flow hedges		Translation adjustments, net of hedges		Unrealized gains (losses) for pension and other post- retirement obligations		Total
Three Months Ended September 30, 2022
Balance, beginning of period	$	(2,152)	$	544	$	(263)	$	(5)	$	(222)	$	(2,098)

Other comprehensive income (loss) before reclassifications	(974)		250		(456)		(4)		—		(1,184)
Amounts reclassified from accumulated OCI to earnings	3		—		—		—		3		6
Period change	(971)		250		(456)		(4)		3		(1,178)
Balance, end of period	$	(3,123)	$	794	$	(719)	$	(9)	$	(219)	$	(3,276)

Three Months Ended September 30, 2021
Balance, beginning of period	$	50	$	31	$	153	$	(6)	$	(247)	$	(19)

Other comprehensive income (loss) before reclassifications	(86)		—		(29)		2		—		(113)
Amounts reclassified from accumulated OCI to earnings	4		—		—		—		3		7
Period change	(82)		—		(29)		2		3		(106)

Balance, end of period	$	(32)	$	31	$	124	$	(4)	$	(244)	$	(125)

Nine Months Ended September 30, 2022
Balance, beginning of period	$	(153)	$	89	$	63	$	(3)	$	(225)	$	(229)
Other comprehensive loss before reclassifications	(3,043)		705		(782)		(6)		—		(3,126)
Amounts reclassified from accumulated OCI to earnings	73		—		—		—		6		79
Period change	(2,970)		705		(782)		(6)		6		(3,047)
Balance, end of period	$	(3,123)	$	794	$	(719)	$	(9)	$	(219)	$	(3,276)

Nine Months Ended September 30, 2021
Balance, beginning of period	$	188	$	2	$	255	$	—	$	(253)	$	192
Other comprehensive income before reclassifications	(241)		29		(131)		(4)		—		(347)
Amounts reclassified from accumulated OCI to earnings	21		—		—		—		9		30
Period change	(220)		29		(131)		(4)		9		(317)
Balance, end of period	$	(32)	$	31	$	124	$	(4)	$	(244)	$	(125)

(1)AOCI amounts at September 30, 2022 and September 30, 2021 include $69 million and $41 million, respectively, of net unrealized losses (after-tax) on securities transferred from the available-for-sale securities portfolio to the held-to-maturity securities portfolio. The net unrealized losses will be recognized in earnings over the remaining life of the security using the effective interest method.