KEYCORP NEW
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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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.
FY2023 · Filed Feb 22, 2024
KEY$21.41+2.7%Stored close · as of Nov 9, 2026
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Accounting and reporting developments
Accounting guidance pending adoption
| Standard | Required Adoption | Description | Effect on Financial Statements or Other Significant Matters |
|---|---|---|---|
| ASU 2023-05BusinessCombinations— JointVenture Formations(Subtopic 805-60) | January 1, 2025Early adoption ispermitted. | This guidance requires that a joint venture apply a new basis of accounting upon its initial formation. By doing this, a joint venture, upon formation, will recognize and initially measure its assets and liabilities at fair value, with certain exceptions. Existing joint ventures have the option to apply this new guidance retrospectively as long as they have sufficient information to do so. | The guidance is not expected to have any impact on Key’s financial condition or results of operations. |
| ASU 2023-06DisclosureImprovements | The date on which the SEC’s removal of relateddisclosures fromRegulation S-X orRegulation S-K becomes effective.Early adoption isprohibited. | This guidance clarifies and improves disclosure requirements for a variety of topics.The amendments should be applied prospectively. | The guidance is not expected to have a material impact on Key’s disclosures. |
| ASU 2023-07 Segment Reporting (Topic 280) | Annual periods beginning January 1, 2024Interim periods beginning January 1, 2025Early adoption is permitted. | This guidance requires certain segment disclosures in annual and interim periods. It also clarifies that companies may report on additional measures if the chief operating decision maker uses more than one measure of a segment’s profit or loss in assessing segment performance and deciding how to allocate resources. The guidance should be applied on a retrospective basis. | We are still assessing the impact on Key’s disclosures. |
| ASU 2023-09 Income Taxes (Topic 740) | January 1, 2025Early adoption is permitted. | This guidance requires certain tax disclosures related to rate reconciliation and income taxes paid. The guidance should be applied on a prospective or retrospective basis. | We are still assessing the impact on Key’s disclosures. |
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