KEYCORP NEW

For the period ended Sep 30, 2024. Filed Nov 6, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 6, 2024

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

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Contents

Consolidated Statements of Cash Flows

Dollars in millions	Nine months ended September 30,
(Unaudited)	2024	2023
OPERATING ACTIVITIES
Net income (loss)	$83	$902
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Provision for credit losses	296	387
Depreciation, amortization, and accretion, net	68	121
Increase in cash surrender value of corporate-owned life insurance	(86)	(80)
Stock-based compensation expense	76	90
Deferred income taxes (benefit)	(138)	(36)
Proceeds from sales of loans held for sale	5,099	6,728
Originations of loans held for sale, net of repayments	(5,711)	(6,556)
Net losses (gains) on sales of loans held for sale	(84)	(99)
Net losses (gains) on leased equipment	(8)	(6)
Net securities and other investments losses (gains)	948	7
Net losses (gains) on sales of fixed assets	(4)	11
Net change in:
Trading account assets	(262)	(496)
Accrued income and other assets	224	325
Accrued expense and other liabilities	(780)	361
Other operating activities, net	(784)	207
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES	(1,063)	1,866
INVESTING ACTIVITIES
Net decrease (increase) in short-term investments, excluding acquisitions	(11,979)	(5,439)
Purchases of securities available for sale	(12,562)	(1,178)
Proceeds from sales of securities available for sale	15,898	1,400
Proceeds from prepayments and maturities of securities available for sale	1,758	2,351
Proceeds from prepayments and maturities of held-to-maturity securities	881	1,046
Purchases of held-to-maturity securities	—	(1,179)
Net decrease (increase) in other investments	130	(55)
Net decrease (increase) in loans, excluding acquisitions, sales and transfers	6,962	3,788
Proceeds from sales of portfolio loans	156	117
Proceeds from corporate-owned life insurance	90	68
Purchases of premises, equipment, and software	(42)	(99)
Proceeds from sales of premises and equipment	12	5
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	1,304	825
FINANCING ACTIVITIES
Net increase (decrease) in deposits	4,766	1,696
Net increase (decrease) in short-term borrowings	(688)	(5,950)
Net proceeds from issuance of long-term debt	1,565	5,240
Payments on long-term debt	(5,649)	(2,952)
Repurchases of long-term debt	—	(92)
Open market Common Share repurchases	—	(38)
Employee equity compensation program Common Share repurchases	(27)	(34)
Net proceeds from reissuance of Common Shares	5	1
Net proceeds from Scotiabank investment	811	—
Cash dividends paid	(689)	(683)
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	94	(2,812)
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS	335	(121)
CASH AND DUE FROM BANKS AT BEGINNING OF PERIOD	941	887
CASH AND DUE FROM BANKS AT END OF PERIOD	$1,276	$766
Additional disclosures relative to cash flows:
Interest paid	$3,112	$2,137
Income taxes paid (refunded)	69	155
Noncash items:
Reduction of secured borrowing and related collateral	$3	$5
Loans transferred to portfolio from held for sale	123	177
Loans transferred to held for sale from portfolio	3	19
Loans transferred to OREO	4	7
ABS risk retentions	6	7

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