HUNTINGTON BANCSHARES INC MD

For the period ended Dec 31, 2024. Filed Feb 14, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Feb 14, 2025

HBANL$24.80+0.1%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

	Year Ended December 31,
(dollar amounts in millions)	2024	2023	2022
Operating activities
Net income	$1,960	$1,971	$2,249
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	420	402	289
Depreciation and amortization	622	798	484
Share-based compensation expense	106	97	105
Deferred income tax (benefit) provision	(26)	(302)	319
Net change in:
Trading account securities	72	(106)	27
Loans held for sale	(227)	(83)	675
Other assets	(761)	(491)	(1,156)
Other liabilities	(344)	341	1,024
Other, net	(7)	30	11
Net cash provided by operating activities	1,815	2,657	4,027
Investing activities
Change in interest earning deposits with banks	(254)	23	332
Net cash paid in business acquisition	—	—	(223)
Proceeds from:
Maturities and calls of available-for-sale securities	11,001	2,689	4,053
Maturities and calls of held-to-maturity securities	1,397	1,523	2,803
Maturities and calls of other securities	57	615	832
Sales of available-for-sale securities	990	767	—
Sales of other securities	—	144	41
Purchases of available-for-sale securities	(14,043)	(4,965)	(7,107)
Purchases of held-to-maturity securities	(2,037)	(256)	(3,229)
Purchases of other securities	(155)	(630)	(1,080)
Net proceeds from sales of loans and leases	391	450	995
Principal payments received under direct finance leases	1,769	1,891	1,882
Purchases of loans and leases	(680)	(71)	(610)
Net loan and lease activity, excluding sales and purchases	(10,025)	(5,108)	(10,169)
Purchases of premises and equipment	(143)	(140)	(214)
Net accrued income and other receivables activity	(474)	(17)	(66)
Other, net	87	88	151
Net cash used in investing activities	(12,119)	(2,997)	(11,609)
Financing activities
Increase in deposits	11,218	3,316	4,651
(Decrease) increase in short-term borrowings	(782)	(1,295)	2,161
Net proceeds from issuance of long-term debt	7,661	14,965	11,004
Maturity/redemption of long-term debt	(3,563)	(12,376)	(8,017)
Dividends paid on preferred stock	(143)	(134)	(113)
Dividends paid on common stock	(903)	(900)	(897)
Repurchase/redemption of preferred stock	(410)	(82)	—
Net proceeds from issuance of preferred stock	—	317	—
Other, net	(56)	(46)	(25)
Net cash provided by financing activities	13,022	3,765	8,764
Increase in cash and cash equivalents	2,718	3,425	1,182
Cash and cash equivalents at beginning of period (1)	10,129	6,704	5,522
Cash and cash equivalents at end of period (1)	$12,847	$10,129	$6,704

98 Huntington Bancshares Incorporated

	Year Ended December 31,
(dollar amounts in millions)	2024	2023	2022
Supplemental disclosures:
Interest paid	$4,547	$3,359	$627
Income taxes paid (refunded)	123	90	(109)
Non-cash activities
Loans transferred to held-for-sale from portfolio	390	439	748
Loans transferred to portfolio from held-for-sale	34	22	126
Transfer of securities from available-for-sale to held-to-maturity	—	—	4,225

(1)Includes cash and due from banks and interest-earning deposits at the FRB, included within Interest-earning deposits with banks on our Consolidated Balance Sheets.

2024 Form 10-K 99

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.