OTHER COMPREHENSIVE INCOME (Tables)

9 Months Ended

Sep. 30, 2024

Components of Other Comprehensive Income

The components of Huntington’s OCI were as follows:


(dollar amounts in millions)	Pretax		Tax (expense) benefit		After-tax
Three months ended September 30, 2024

Unrealized gains on available-for-sale securities arising during the period, net of hedges	$	573	$	(131)	$	442
Reclassification adjustment for realized net losses included in net income	4		(1)		3
Total unrealized gains on available-for-sale securities, net of hedges	577		(132)		445


Unrealized gains on cash flow hedges during the period	412		(95)		317
Reclassification adjustment for cash flow hedges included in net income	55		(12)		43
Net change related to cash flow hedges on loans	467		(107)		360


Translation adjustments, net of hedges (1)	2		—		2
Change in accumulated unrealized gains for pension and other post-retirement obligations	1		(1)		—
Other comprehensive income	$	1,047	$	(240)	$	807
Three months ended September 30, 2023

Unrealized losses on available-for-sale securities arising during the period, net of hedges	$	(739)	$	170	$	(569)
Reclassification adjustment for realized net losses included in net income	3		—		3
Total unrealized losses on available-for-sale securities, net of hedges	(736)		170		(566)


Unrealized losses on cash flow hedges during the period	(119)		28		(91)
Reclassification adjustment for cash flow hedges included in net income	67		(26)		41
Net change related to cash flow hedges on loans	(52)		2		(50)


Translation adjustments, net of hedges (1)	(1)		—		(1)
Change in accumulated unrealized gains for pension and other post-retirement obligations	1		—		1
Other comprehensive loss	$	(788)	$	172	$	(616)
Nine months ended September 30, 2024

Unrealized gains on available-for-sale securities arising during the period, net of hedges	$	310	$	(70)	$	240
Reclassification adjustment for realized net losses included in net income	9		(2)		7
Total unrealized gains on available-for-sale securities, net of hedges	319		(72)		247


Unrealized gains on cash flow hedges during the period	231		(53)		178
Reclassification adjustment for cash flow hedges included in net income	190		(44)		146
Net change related to cash flow hedges on loans	421		(97)		324



Change in accumulated unrealized gains for pension and other post-retirement obligations	2		(1)		1
Other comprehensive income	$	742	$	(170)	$	572
Nine months ended September 30, 2023

Unrealized losses on available-for-sale securities arising during the period, net of hedges	$	(685)	$	158	$	(527)
Reclassification adjustment for realized net losses included in net income	41		(9)		32
Total unrealized losses on available-for-sale securities	(644)		149		(495)


Unrealized losses on cash flow hedges during the period	(154)		40		(114)
Reclassification adjustment for cash flow hedges included in net income	113		(29)		84
Net change related to cash flow hedges on loans	(41)		11		(30)



Change in accumulated unrealized gains for pension and other post-retirement obligations	1		—		1
Other comprehensive loss	$	(684)	$	160	$	(524)

(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 was as follows:


(dollar amounts in millions)	Unrealized gains (losses) on available-for-sale securities, net of hedges (1)		Net change related to cash flow hedges on loans		Translation adjustments, net of hedges		Unrealized losses for pension and other post-retirement obligations		Total
Three months ended September 30, 2024
Balance, beginning of period	$	(2,292)	$	(399)	$	(8)	$	(212)	$	(2,911)

Other comprehensive income before reclassifications	442		317		2		—		761
Amounts reclassified from accumulated OCI to earnings	3		43		—		—		46
Period change	445		360		2		—		807
Balance, end of period	$	(1,847)	$	(39)	$	(6)	$	(212)	$	(2,104)

Three months ended September 30, 2023
Balance, beginning of period	$	(2,177)	$	(612)	$	(7)	$	(210)	$	(3,006)

Other comprehensive loss before reclassifications	(569)		(91)		(1)		—		(661)
Amounts reclassified from accumulated OCI to earnings	3		41		—		1		45
Period change	(566)		(50)		(1)		1		(616)

Balance, end of period	$	(2,743)	$	(662)	$	(8)	$	(209)	$	(3,622)

Nine months ended September 30, 2024
Balance, beginning of period	$	(2,094)	$	(363)	$	(6)	$	(213)	$	(2,676)
Other comprehensive income before reclassifications	240		178		—		—		418
Amounts reclassified from accumulated OCI to earnings	7		146		—		1		154
Period change	247		324		—		1		572
Balance, end of period	$	(1,847)	$	(39)	$	(6)	$	(212)	$	(2,104)

Nine months ended September 30, 2023
Balance, beginning of period	$	(2,248)	$	(632)	$	(8)	$	(210)	$	(3,098)
Other comprehensive loss before reclassifications	(527)		(114)		—		—		(641)
Amounts reclassified from accumulated OCI to earnings	32		84		—		1		117
Period change	(495)		(30)		—		1		(524)
Balance, end of period	$	(2,743)	$	(662)	$	(8)	$	(209)	$	(3,622)

(1)AOCI amounts at September 30, 2024 and September 30, 2023 include $52 million and $60 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.