Huntington National Bank 2012 Annual Report Download - page 127

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ASU 2011-10 — Property, Plant, and Equipment (Topic 360): Derecognition of In-Substance Real Estate. The ASU amends
Topic 360 to clarify that when a reporting entity ceases to have a controlling financial interest (as described in ASC 810
“Consolidation”) in a subsidiary that is in-substance real estate as a result of default on the subsidiary’s nonrecourse debt, the
reporting entity should apply the guidance in Subtopic 360-20 to determine whether it should derecognize the in-substance real estate.
The amendments were effective for our financial statements beginning in the third quarter of 2012. The amendments did not have a
material impact on Huntington’s Consolidated Financial Statements.
ASU 2011-11 — Balance Sheet (Topic 210): Disclosures about Offsetting Assets and Liabilities. The ASU amends Topic 210 by
requiring additional improved information to be disclosed regarding financial instruments and derivative instruments that are offset in
accordance with the conditions under ASC 210-20-45 or ASC 810-10-45 or subject to an enforceable master netting arrangement or
similar agreement. The amendments are effective for annual and interim reporting periods beginning on or after January 1, 2013. The
disclosures required by the amendments should be applied retrospectively for all comparative periods presented. Management does
not believe the amendments will have a material impact on Huntington’s Consolidated Financial Statements
ASU 2013-01— Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. The
ASU amends Update 2011-11 to clarify that the scope applies to derivatives, repurchase and reverse repurchase agreements, and
securities borrowing and lending transactions that are either offset in accordance with Section 210-20-45 or Section 815-10-45 or
subject to master netting or similar arrangements. Other types of financial assets and liabilities subject to master netting or similar
arrangements are not subject to the disclosure requirements in Update 2011-11. The amendments are effective for fiscal years
beginning on or after January 1, 2013, and interim periods within those annual periods. Management does not believe the
amendments will have a material impact on Huntington’s Consolidated Financial Statements.
ASU 2013-02— Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other
Comprehensive Income. The ASU requires an entity to provide information about the amounts reclassified out of accumulated other
comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net
income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective
line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety
in the same reporting period. The amendments are effective prospectively for reporting periods beginning after December 15, 2012.
Management does not believe the amendments will have a material impact on Huntington’s Consolidated Financial Statements.
3. LOANS AND LEASES AND ALLOWANCE FOR CREDIT LOSSES
Loans and leases for which Huntington has the intent and ability to hold for the foreseeable future, or until maturity or payoff, are
classified in the Consolidated Balance Sheets as loans and leases. Except for loans which are accounted for at fair value, loans and
leases are carried at the principal amount outstanding, net of unamortized deferred loan origination fees and costs and net of unearned
income. At December 31, 2012 and 2011, the aggregate amount of these net unamortized deferred loan origination fees and net
unearned income was $174.5 million and $122.5 million, respectively.