Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 77

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 77
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 fair values and notional values of all derivative instruments included in the Consolidated Balance Sheets. Amounts in the table below are presented gross without the impact of any net collateral arrangements.At December 31, 2024At December 31, 2023(dollar amounts in millions)Notional ValueAssetLiabilityNotional ValueAssetLiabilityDerivatives designated as Hedging InstrumentsInterest rate contracts$45,634 $24 $— $38,017 $868 $519 Foreign exchange contracts250 — 5 222 6 — Derivatives not designated as Hedging InstrumentsInterest rate contracts42,359 456 580 41,526 718 757 Foreign exchange contracts5,465 79 54 5,257 69 76 Equity contracts823 20 2 759 — 7 Commodities contracts683 29 27 681 62 60 Credit contracts247 2 — 381 — 2 Total Contracts$95,461 $610 $668 $86,843 $1,723 $1,421 The following table presents the amount of gain or loss recognized in income for derivatives not designated as hedging instruments under ASC Subtopic 815-10 in the Consolidated Income Statement.Location of Gain or (Loss) Recognized in Income on DerivativesYear Ended December 31,(dollar amounts in millions)202420232022Interest rate contracts:CustomerCapital markets and advisory fees$37 $30 $47 Mortgage bankingMortgage banking income(49)(10)(109)Interest rate swaptionsOther noninterest income— (24)— Foreign exchange contractsCapital markets and advisory fees45 45 45 Credit contractsOther noninterest income(14)(2)— Commodities contractsCapital markets and advisory fees4 5 5 Equity contractsOther noninterest income and other noninterest expense(18)(13)(9)Total$5 $31 $(21)Derivatives used in asset and liability management activitiesHuntington engages in balance sheet hedging activity, principally for asset and liability management purposes. Balance sheet hedging activity is generally arranged to receive hedge accounting treatment that can be classified as either fair value or cash flow hedges. Fair value hedges are executed to hedge changes in fair value of outstanding fixed-rate debt and investment securities caused by fluctuations in market interest rates. Cash flow hedges are