XML 38 R35.htm IDEA: XBRL DOCUMENT v2.3.0.15
Benefit Plans (Tables)
9 Months Ended
Sep. 30, 2011
Benefit Plans [Abstract] 
Components of net periodic benefit expense

The following table shows the components of net periodic benefit expense of the Plan and the Post-Retirement Benefit Plan:

  Pension Benefits  Post Retirement Benefits 
  Three Months Ended  Three Months Ended 
  September 30,  September 30, 
(dollar amounts in thousands) 2011  2010  2011  2010 
Service cost$ 5,412 $ 5,051 $ --- $ --- 
Interest cost  7,518   7,217   404   433 
Expected return on plan assets  (10,822)   (10,528)   ---   --- 
Amortization of transition asset  (1)   1   ---   --- 
Amortization of prior service cost  (1,442)   (1,442)   (338)   (339) 
Amortization of gains  5,873   3,748   (106)   (174) 
Settlements  1,750   3,925   ---   --- 
Benefit expense$ 8,288 $ 7,972 $ (40) $ (80) 
             
  Pension Benefits  Post Retirement Benefits 
  Nine Months Ended  Nine Months Ended 
  September 30,  September 30, 
(dollar amounts in thousands) 2011  2010  2011  2010 
Service cost$ 16,238 $ 15,153 $ --- $ --- 
Interest cost  22,554   21,651   1,214   1,299 
Expected return on plan assets  (32,468)   (31,584)   ---   --- 
Amortization of transition asset  (3)   5   ---   --- 
Amortization of prior service cost  (4,326)   (4,326)   (1,014)   (1,014) 
Amortization of gains  17,621   11,242   (318)   (525) 
Settlements  5,250   7,375   ---   --- 
Benefit expense$ 24,866 $ 19,516 $ (118) $ (240) 
Summary of plan assets investments

The Bank, as trustee, held all Plan assets at September 30, 2011, and December 31, 2010. The Plan assets consisted of investments in a variety of Huntington mutual funds and Huntington common stock as follows:

  Fair Value
(dollar amounts in thousands)September 30, 2011 December 31, 2010 September 30, 2010
Cash$ 36 ---% $ --- ---% $ --- ---%
Cash equivalents:              
 Huntington funds - money market  55 ---    25 ---    204 --- 
Fixed income:              
 Huntington funds - fixed income funds  173,355 37    133,330 28    134,523 30 
 Corporate obligations  --- ---    --- ---    1,097 --- 
 U.S. Government Agencies  --- ---    --- ---    506 --- 
Equities:              
 Huntington funds  264,074 56    318,155 66    293,956 64 
 Other - equity mutual funds  --- ---    --- ---    4,029 1 
 Huntington common stock  35,380 7    26,969 6    22,344 5 
Fair value of plan assets$ 472,900 100% $ 478,479 100% $ 456,659 100%
Costs of providing the SERP, SRIP, and defined contribution plans

The following table shows the costs of providing the SERP, SRIP, and defined contribution plans:

      
  Three Months Ended  Nine Months Ended
  September 30,  September 30,
(dollar amounts in millions) 2011  2010  2011  2010
SERP & SRIP$ 0.7 $ 0.7 $ 2.1 $ 2.3
Defined contribution plan  3.8   3.3   11.3   5.4
Benefit cost$ 4.5 $ 4.0 $ 13.4 $ 7.7