KEYCORP NEW

For the period ended Dec 31, 2023. Filed Feb 22, 2024.

About this filing

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$21.34-0.3%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Income

Year ended December 31,
Dollars in millions, except per share amounts	2023	2022	2021
INTEREST INCOME
Loans	$6,219	$4,241	$3,532
Loans held for sale	61	56	50
Securities available for sale	793	752	546
Held-to-maturity securities	312	213	185
Trading account assets	55	31	19
Short-term investments	414	97	28
Other investments	73	22	7
Total interest income	7,927	5,412	4,367
INTEREST EXPENSE
Deposits	2,322	279	67
Federal funds purchased and securities sold under repurchase agreements	79	41	—
Bank notes and other short-term borrowings	308	90	8
Long-term debt	1,305	475	221
Total interest expense	4,014	885	296
NET INTEREST INCOME	3,913	4,527	4,071
Provision for credit losses	489	502	(418)
Net interest income after provision for credit losses	3,424	4,025	4,489
NONINTEREST INCOME
Trust and investment services income	516	526	530
Investment banking and debt placement fees	542	638	937
Cards and payments income	340	341	415
Service charges on deposit accounts	270	350	337
Corporate services income	302	372	288
Commercial mortgage servicing fees	190	167	160
Corporate-owned life insurance income	132	132	128
Consumer mortgage income	51	58	131
Operating lease income and other leasing gains	92	103	148
Other income(a)	35	31	120
Total noninterest income	2,470	2,718	3,194
NONINTEREST EXPENSE
Personnel	2,660	2,566	2,561
Net occupancy	267	295	300
Computer processing	368	314	284
Business services and professional fees	168	212	227
Equipment	88	92	100
Operating lease expense	77	101	126
Marketing	109	123	126
Other expense	997	707	705
Total noninterest expense	4,734	4,410	4,429
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	1,160	2,333	3,254
Income taxes	196	422	642
INCOME (LOSS) FROM CONTINUING OPERATIONS	964	1,911	2,612
Income (loss) from discontinued operations	3	6	13
NET INCOME (LOSS)	967	1,917	2,625
Less: Net income (loss) attributable to noncontrolling interests	—	—	—
NET INCOME (LOSS) ATTRIBUTABLE TO KEY	$967	$1,917	$2,625
Income (loss) from continuing operations attributable to Key common shareholders	$821	$1,793	$2,506
Net income (loss) attributable to Key common shareholders	824	1,799	2,519
Per Common Share:
Income (loss) from continuing operations attributable to Key common shareholders	$.88	$1.94	$2.64
Income (loss) from discontinued operations, net of taxes	—	.01	.01
Net income (loss) attributable to Key common shareholders (b)	.89	1.94	2.65
Per Common Share — assuming dilution:
Income (loss) from continuing operations attributable to Key common shareholders	$.88	$1.92	$2.62
Income (loss) from discontinued operations, net of taxes	—	.01	.01
Net income (loss) attributable to Key common shareholders (b)	.88	1.93	2.63
Weighted-average Common Shares outstanding (000)	927,217	924,363	947,065
Effect of convertible preferred stock	—	—	—
Effect of Common Share options and other stock awards	5,542	8,696	10,349
Weighted-average Common Shares and potential Common Shares outstanding (000)(c)	932,759	933,059	957,414

(a)Net securities gains (losses) totaled $(11) million for the year ended December 31, 2023, $9 million for the year ended December 31, 2022, and $7 million for the year ended December 31, 2021.

(b)EPS may not foot due to rounding.

(c)Assumes conversion of Common Share options and other stock awards and/or convertible preferred stock, as applicable.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.