GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

GOODWILL AND OTHER INTANGIBLE ASSETS

Business segments are based on segment leadership structure, which reflects how segment performance is monitored and assessed. We have two major business segments: Consumer & Regional Banking and Commercial Banking. The Treasury / Other function includes technology and operations, other unallocated assets, liabilities, revenue, and expense.

A rollforward of goodwill by business segment for which goodwill is allocated is presented in the table below. No goodwill impairment was recorded in 2023 or 2022.

	Consumer &		Commercial		Huntington
(dollar amounts in millions)	Regional Banking		Banking		Consolidated
Balance, January 1, 2022	$	3,650	$	1,699	$	5,349
Acquisitions	—		222		222
Balance, December 31, 2022	3,650		1,921		5,571
RPS sale	(10)		—		(10)
Balance, December 31, 2023	$	3,640	$	1,921	$	5,561

Huntington’s other intangible assets consisted of the following:

(dollar amounts in millions)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
At December 31, 2023
Core deposit intangible	$	385	$	(259)	$	126
Customer relationship	92		(75)		17
Total other intangible assets	$	477	$	(334)	$	143
At December 31, 2022
Core deposit intangible	$	385	$	(216)	$	169
Customer relationship	107		(81)		26
Total other intangible assets	$	492	$	(297)	$	195

The estimated amortization expense of other intangible assets for the next five years is as follows:

(dollar amounts in millions)	Amortization Expense
2024	$	47
2025	43
2026	29
2027	9
2028	6