KEYCORP /NEW/
For the period ended Sep 30, 2026. Filed Nov 3, 2026.
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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, 2026 · Filed Nov 3, 2026
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Income taxes
We recorded tax expense of $159 million for the third quarter of 2026 and tax expense of $112 million for the third quarter of 2025. We recorded tax expense of $434 million for the nine months ended September 30, 2026, compared to $337 million for the nine months ended September 30, 2025.
Our federal tax expense and effective tax rate differ from the amounts that would be calculated using the federal statutory tax rate, primarily due to investments in tax-advantaged assets, such as corporate-owned life insurance, tax credits associated with low-income housing investments, and periodic adjustments to our tax reserves.
Additional information pertaining to how our tax expense (benefit) and the resulting effective tax rates were derived is included in Note 13 (“Income Taxes”) beginning on page 153 of our 2025 Form 10-K.
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