Company: HBAN
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0000049196-25-000020
Chunk: 47

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-02-14
Form: 10-K
Item: Item 8
Chunk 47
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 amortization charged to expense was as follows.Year Ended December 31,(dollar amounts in millions)202420232022Total depreciation and amortization of premises and equipment$142 $167 $182 

124     Huntington Bancshares Incorporated

Table of Contents

9. OPERATING LEASES 

At December 31, 2024, Huntington was obligated under non-cancelable leases for branch and office space. These leases are all classified as operating due to the amount of time such spaces are occupied relative to the underlying assets useful lives. Many of these leases contain renewal options, most of which are not included in measurement of the right-of-use asset as they are not considered reasonably certain of exercise (i.e., Huntington does not currently have a significant economic incentive to exercise these options). Net lease assets and liabilities are as follows.At December 31, (dollar amounts in millions)Classification20242023Operating lease assetsOther assets$278 $265 Lease liabilitiesOther liabilities$380 $379 Net lease cost are as follows.Year Ended December 31,(dollar amounts in millions)Classification20242023Operating lease costNet occupancy$63 $68 Short-term lease costNet occupancy2 1 Net lease cost$65 $69 Maturity of lease liabilities at December 31, 2024 are as follows.(dollar amounts in millions)Total2025$71 202664 202753 202844 202939 Thereafter240 Total lease payments511 Less: Interest(131)Total lease liabilities$380 Additional supplemental information related to the Company’s operating leases is as follows.(dollar amounts in millions)20242023Year ended December 31:Cash paid for amounts included in the measurement of lease liabilities for operating cash flows$(76)$(77)Right-of-use assets obtained in exchange for lease obligations for operating leases59 37 At December 31:Weighted-average remaining lease term (years) for operating leases10.8611.30Weighted-average discount rate for operating leases5.19 %4.93 %

10. BORROWINGS

Borrowings with original maturities of one year or less are classified as short-term and were comprised of the following.  At December 31, (dollar amounts in millions)20242023Securities sold under agreements to repurchase$142 $618 Other borrowings57 2 Total short-term borrowings$199 $620 

2024 Form