Sales of available-for-sale securities

[Table of](#ib75bcbc468d84ef69c01608c63d6bb19_10) [Content](#ib75bcbc468d84ef69c01608c63d6bb19_10)Huntington Bancshares IncorporatedCondensed Consolidated Statements of Cash Flows(Unaudited)

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|   | Nine Months Ended September 30, |
| (dollar amounts in millions) | 2022 |  | 2021 |
| Operating activities |  |
| Net income | $ | 1,600  |  |  | $ | 895  |  |
| Adjustments to reconcile net income to net cash provided by operating activities: |  |
|  |  |  |  |
| Provision for credit losses | 198  |  |  | 89  |  |
| Depreciation and amortization | 355  |  |  | 299  |  |
| Share-based compensation expense | 82  |  |  | 97  |  |
| Deferred income tax expense | 164  |  |  | 40  |  |
|  |  |  |  |
|  |  |  |  |
| Net change in: |  |  |  |
| Trading account securities | 15  |  |  | (15) |  |
| Loans held for sale | 464  |  |  | (115) |  |
|  |  |  |  |
| Other assets | (1,109) |  |  | (247) |  |
| Other liabilities | 893  |  |  | 455  |  |
|  |  |  |  |
|  |  |  |  |
| Other, net | 8  |  |  | 67  |  |
| Net cash provided by operating activities | 2,670  |  |  | 1,565  |  |
| Investing activities |  |
| Change in interest bearing deposits in banks | 287  |  |  | 611  |  |
| Net cash (paid) received from business combinations | (223) |  |  | 466  |  |
| Proceeds from: |  |  |  |
| Maturities and calls of available-for-sale securities | 3,298  |  |  | 5,408  |  |
| Maturities and calls of held-to-maturity securities | 2,306  |  |  | 3,073  |  |
| Maturities and calls of other securities | 829  |  |  | —  |  |
| Sales of available-for-sale securities | —  |  |  | 5,860  |  |
|  |  |  |  |
| Purchases of available-for-sale securities | (6,365) |  |  | (14,995) |  |
| Purchases of held-to-maturity securities | (2,845) |  |  | (3,685) |  |
| Purchases of other securities | (1,009) |  |  | —  |  |
|  |  |  |  |
| Net proceeds from sales of portfolio loans and leases | 937  |  |  | 479  |  |
| Principal payments received under direct finance and sales-type leases | 1,389  |  |  | 899  |  |
| Net loan and lease activity, excluding sales and purchases | (8,375) |  |  | 5,130  |  |
|  |  |  |  |
| Purchases of premises and equipment | (165) |  |  | (157) |  |
|  |  |  |  |
| Purchases of loans and leases | (569) |  |  | (771) |  |
| Net accrued income and other receivables activity | 96  |  |  | (1,009) |  |
|  |  |  |  |
| Net cash paid for branch disposition | —  |  |  | (618) |  |
| Other, net | 63  |  |  | 98  |  |
| Net cash provided by (used in) investing activities | (10,346) |  |  | 789  |  |
| Financing activities |  |  |  |
| Increase in deposits | 3,050  |  |  | 5,136  |  |
| Increase (decrease) in short-term borrowings | 783  |  |  | (1,062) |  |
|  |  |  |  |
| Net proceeds from issuance of long-term debt | 5,379  |  |  | 646  |  |
| Maturity/redemption of long-term debt | (1,902) |  |  | (2,649) |  |
| Dividends paid on preferred stock | (84) |  |  | (109) |  |
| Dividends paid on common stock | (673) |  |  | (531) |  |
| Repurchases of common stock | —  |  |  | (500) |  |
|  |  |  |  |
| Payment to repurchase preferred stock | —  |  |  | (600) |  |
| Net proceeds from issuance of preferred stock | —  |  |  | 486  |  |
|  |  |  |  |
|  |  |  |  |
| Other, net | (23) |  |  | (21) |  |
| Net cash provided by financing activities | 6,530  |  |  | 796  |  |
| Increase (decrease) in cash and cash equivalents | (1,146) |  |  | 3,150  |  |
| Cash and cash equivalents at beginning of period | 5,522  |  |  | 6,595  |  |
| Cash and cash equivalents at end of period | $ | 4,376  |  |  | $ | 9,745  |  |

2022 3Q Form 10-Q 45  

