HUNTINGTON BANCSHARES INC /MD/HBAN

HUNTINGTON BANCSHARES INC /MD/ Leases Disclosure

10-KFiled Feb 13, 20262 min read
OPERATING LEASES
At December 31, 2025, 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 were as follows.
At December 31,
(dollar amounts in millions)Classification20252024
Operating lease assetsOther assets$340 $278 
Lease liabilitiesOther liabilities436 380 
Net lease costs were as follows.
Year Ended December 31,
(dollar amounts in millions)Classification20252024
Operating lease costNet occupancy$67 $63 
Short-term lease costNet occupancy1 2 
Net lease costs
$68 $65 
Maturities of lease liabilities at December 31, 2025 are as follows.
(dollar amounts in millions)Total
2026$72 
202770 
202862 
202956 
203048 
Thereafter284 
Total lease payments592 
Less: Interest(156)
Total lease liabilities$436 
Additional supplemental information related to the Company’s operating leases was as follows.
(dollar amounts in millions)20252024
Year ended December 31:
Cash paid for amounts included in the measurement of lease liabilities for operating cash flows$(79)$(76)
Right-of-use assets obtained in exchange for lease obligations for operating leases109 59 
At December 31:
Weighted-average remaining lease term (years) for operating leases10.7410.86
Weighted-average discount rate for operating leases5.55 %5.19 %

Historical Timeline

Fiscal YearFiled
2025Feb 13, 2026Showing above
2024Feb 14, 2025
2023Feb 16, 2024
2022Feb 17, 2023
2021Feb 18, 2022
2020Feb 26, 2021
2019Feb 14, 2020
2016Feb 22, 2017
2015Feb 17, 2016

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

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