Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 91

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 91
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 Bancshares Incorporated

Table of Contents

Statements of Cash FlowsYear Ended December 31,(dollar amounts in millions)202420232022Operating activitiesNet income$1,940 $1,951 $2,238 Adjustments to reconcile net income to net cash provided by operating activities:Equity in undistributed net income of subsidiaries(150)(513)(877)Depreciation and amortization7 — (22)Other, net(121)192 (55)Net cash provided by operating activities1,676 1,630 1,284 Investing activitiesInvestment in subsidiaries(1,750)— — Repayments from subsidiaries1,107 503 14 Advances to subsidiaries(1,700)(1,753)(503)Net purchases of securities— — (20)Net cash paid in business combination— — (194)Other, net(21)(10)(1)Net cash used for investing activities(2,364)(1,260)(704)Financing activitiesProceeds from issuance of long-term debt2,995 1,250 1,144 Payment of long-term debt(734)(323)— Dividends paid on common and preferred stock(1,047)(1,034)(1,010)Net proceeds from issuance of preferred stock— 317 — Redemption/repurchase of preferred stock(410)(82)— Other, net(14)(22)(21)Net cash provided by financing activities790 106 113 Increase in cash and cash equivalents102 476 693 Cash and cash equivalents at beginning of year4,001 3,525 2,832 Cash and cash equivalents at end of year$4,103 $4,001 $3,525 Supplemental disclosure: Interest paid$332 $228 $89 

24. SEGMENT REPORTING 

Huntington’s business segments are based on our internally-aligned segment leadership structure, which is how management monitors results and assesses performance. Huntington reports on two business segments: Consumer & Regional Banking and Commercial Banking. Huntington’s CEO is the CODM for each of our business segments. The CODM primarily utilizes net interest income and net income attributable to Huntington to assess segment performance and to allocate resources to meet our business objectives. The CODM considers budget-to-actual variances for these profit measures when making decisions about allocating resources, comparing performance among the segments, and determining compensation of