Huntington National Bank 2011 Annual Report Download - page 102

Treasury / Other
The Treasury / Other function includes revenue and expense related to our insurance business, and assets,
liabilities, and equity not directly assigned or allocated to one of the four business segments. Assets include
investment securities and bank owned life insurance. The financial impact associated with our FTP methodology,
as described above, is also included.
Net interest income includes the impact of administering our investment securities portfolios and the net
impact of derivatives used to hedge interest rate sensitivity. Noninterest income includes insurance income,
miscellaneous fee income not allocated to other business segments, such as bank owned life insurance income
and any investment security and trading asset gains or losses. Noninterest expense includes any insurance-related
expenses, as well as certain corporate administrative, merger, and other miscellaneous expenses not allocated to
other business segments. The provision for income taxes for the business segments is calculated at a statutory
35% tax rate, though our overall effective tax rate is lower. As a result, Treasury / Other reflects a credit for
income taxes representing the difference between the lower actual effective tax rate and the statutory tax rate
used to allocate income taxes to the business segments.
Net Income by Business Segment
The segregation of net income by business segment for the past three years is presented in the following
table:
Table 40 — Net Income (Loss) by Business Segment
Year ended December 31,
2011 2010 2009
(dollar amounts in thousands)
Retail and Business Banking ......................... $175,395 $131,036 $ (26,479)
Regional and Commercial Banking .................... 109,846 38,462 (158,736)
AFCRE .......................................... 186,151 46,492 (588,154)
WGH ............................................ 25,883 34,801 1,743
Treasury / Other ................................... 45,338 61,556 251,265
Unallocated goodwill impairment(1) .................... —— (2,573,818)
Total net income (loss) ............................. $542,613 $312,347 $(3,094,179)
(1) Represents the 2009 first quarter impairment charge, net of tax, associated with the former Regional
Banking business segment. See the Goodwill section located in Critical Accounting Policies and Use of
Significant Estimates section for additional information.
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