SHAREHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2023

Equity [Abstract]

Schedule of Stock by Class

The following is a summary of Huntington’s non-cumulative, non-voting, perpetual preferred stock outstanding.

(dollar amounts in millions)						Carrying Amount
Series	Issuance Date	Shares Outstanding	Dividend Rate		Earliest Optional Redemption Date (1)	December 31, 2023		December 31, 2022
Series B (2)	12/28/2011	35,500	Variable (3)		1/15/2017	$	23	$	23
Series E (4)	2/27/2018	4,087	Variable (5)		4/15/2023	405		495
Series F (4)	5/27/2020	5,000	5.625	%	7/15/2030	494		494
Series G (4)	8/3/2020	5,000	4.45		10/15/2027	494		494
Series H (2)	2/2/2021	500,000	4.50		4/15/2026	486		486
Series I (6)	6/9/2021	7,000	5.70		12/01/2022	175		175
Series J (2)	3/6/2023	325,000	6.875		4/15/2028	317		—
Total		881,587				$	2,394	$	2,167

(1)Redeemable at Huntington’s option on the date stated or on a quarterly basis thereafter.

(2)Series B, H, and J preferred stock have a liquidation value and redemption price per share of $1,000, plus any declared and unpaid dividends.

(3)Series B dividend rate converted to 3-month CME Term SOFR + 26 bps LIBOR spread adjustment + 270 bps effective July 15, 2023. Prior to July 15, 2023, the dividend rate was 3-month LIBOR + 270 bps.

(4)Series E, F, and G, preferred stock have a liquidation value and redemption price per share of $100,000, plus any declared and unpaid dividends.

(5)Series E dividend rate converted to 3-month CME Term SOFR + 26 bps LIBOR spread adjustment + 288 bps effective July 15, 2023. Prior to July 15, 2023, the dividend rate was 3-month LIBOR + 288 bps.

(6)Series I preferred stock has a liquidation value and redemption price per share of $25,000, plus any declared and unpaid dividends.

Dividends Declared

The following table presents the dividends declared for each series of Preferred shares.

	Year Ended December 31,
	2023				2022				2021
(amounts in millions, except per share data)	Cash Dividend Declared Per Share				Cash Dividend Declared Per Share				Cash Dividend Declared Per Share
Preferred Series			Amount ($)				Amount ($)				Amount ($)
Series B	$	80.28	$	(3)	$	46.68	$	(2)	$	28.69	$	(1)
Series C	—		—		—		—		44.07		(4)
Series D	—		—		—		—		31.25		(18)
Series E	7,753.75		(37)		5,700.00		(29)		5,700.00		(29)
Series F	5,625.00		(28)		5,625.00		(28)		5,625.00		(28)
Series G	4,450.00		(22)		4,450.00		(22)		4,450.00		(23)
Series H	45.00		(23)		45.00		(22)		42.00		(21)
Series I	1,425.00		(10)		1,425.00		(10)		1,068.75		(7)
Series J	59.02		(19)		—		—		—		—
Total			$	(142)			$	(113)			$	(131)