Company: HBAN
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000049196-25-000079
Chunk: 244

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-10-28
Form: 10-Q
Item: Part II, Item 8
Chunk 244
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Table of Contents

Huntington Bancshares Incorporated

Notes to Unaudited Consolidated Financial Statements

1. BASIS OF PRESENTATION 

The accompanying interim Unaudited Consolidated Financial Statements of Huntington reflect all adjustments consisting of normal recurring accruals which are, in the opinion of management, necessary for a fair statement of the consolidated financial position, the results of operations, and cash flows for the periods presented. These interim Unaudited Consolidated Financial Statements have been prepared according to the rules and regulations of the SEC and, therefore, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with GAAP have been omitted. The Notes to Consolidated Financial Statements appearing in Huntington’s 2024 Annual Report on Form 10-K, which include descriptions of significant accounting policies, as updated by the information contained in this report, should be read in conjunction with these interim financial statements.In conjunction with applicable accounting standards, all material subsequent events have been either recognized in the interim Unaudited Consolidated Financial Statements or disclosed in the Notes to Unaudited Consolidated Financial Statements. There were no other material subsequent events to disclose for the current period.

2. ACCOUNTING STANDARDS UPDATE

Accounting standards adoptedStandardSummary of guidanceEffects on financial StatementsASU 2023-07 - Segment Reporting (Topic 280): Improvement to Reportable Segments•Requires disclosure of the position and title of the CODM and significant segment expenses that the CODM is regularly provided.      •Requires the disclosure of other segment items representing the difference between segment revenue and expense and the profit and loss measure of the segment.   •Allows for the CODM to use more than one measure of segment profit and loss, as long as one measure is consistent with GAAP.•Huntington adopted the standard effective for the year ended December 31, 2024 and the first interim period beginning in 2025. •The adoption did not result in a material impact on Huntington’s Consolidated Financial Statements.•The amendments have been applied retrospectively to all periods presented and segment expense categories are based on the categories identified at adoption. •Refer to Note 17 - “Segment Reporting” of this Quarterly Report on Form 10-Q and Note 24 - “Segment Reporting” of our 2024 Annual Report on Form 10-K for additional disclosure information.Accounting standards not yet effectiveStandardSummary of guidanceEffects on financial StatementsASU 2023-09 - Income Taxes (Topic 740): Improvements to Income Tax Disclosures•Requires a tab