Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 83

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 83
---
 gross amounts of these assets and liabilities with any offsets to arrive at the net amounts recognized in the Consolidated Balance Sheets.Offsetting of Financial Assets and Derivative AssetsGross amountsoffset in theconsolidatedbalance sheetsNet amounts ofassetspresented intheconsolidatedbalance sheetsGross amounts not offset in the consolidated balance sheets(dollar amounts in millions)Gross amountsof recognizedassetsFinancialinstrumentsCash collateralreceivedNet amountAt December 31, 2024$610 $(344)$266 $(5)$(35)$226 At December 31, 20231,723 (1,330)393 (45)(4)344 Offsetting of Financial Liabilities and Derivative LiabilitiesGross amountsoffset in theconsolidatedbalance sheetsNet amounts ofliabilitiespresented intheconsolidatedbalance sheetsGross amounts not offset in the consolidated balance sheets(dollar amounts in millions)Gross amountsof recognizedliabilitiesFinancialinstrumentsCash collateraldeliveredNet amountAt December 31, 2024$668 $(90)$578 $(67)$(316)$195 At December 31, 20231,421 (751)670 — (93)577 

152     Huntington Bancshares Incorporated

Table of Contents

20. VARIABLE INTEREST ENTITIES

Consolidated VIEsHuntington engages in activities with VIEs in the normal course of business that result in Huntington being the primary beneficiary and which are consolidated in Huntington’s financial statements. The following table provides a summary of the assets and liabilities of VIEs carried on Huntington’s Consolidated Balance Sheets. (dollar amounts in millions)At December 31, 2024At December 31, 2023AssetsNet loans and leases$1,122 $— Other assets264 82 Total assets$1,386 $82 LiabilitiesLong-term borrowings$1,023 $— Other liabilities109 57 Total liabilities$1,132 $57 As part of a securitization transaction completed in the first quarter of 2024, Huntington transferred $1.6 billion in aggregate automobile loans to a SPE which was deemed to be a VIE. This SPE then issued approximately $1.6 billion of asset-backed notes, of which approximately $128