KEYCORP NEW
For the period ended Jun 30, 2024. Filed Jul 26, 2024.
View on SEC.govAbout 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.
Jun 30, 2024 · Filed Jul 26, 2024
KEY$20.85-0.5%Stored close · as of Nov 6, 2026
Contents
Accounting and Reporting Developments
Accounting Guidance Pending Adoption at June 30, 2024
| 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’sfinancial condition or results of operations. |
| ASU 2023-06DisclosureImprovements | The date on which the SEC’s removal of related disclosures 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 onKey’s disclosures. |
| ASU 2023-07Segment Reporting(Topic 280) | Annual periods beginningJanuary 1, 2024Interim periods beginningJanuary 1, 2025Early adoption ispermitted. | 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 decisionmaker 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. | The guidance is not expected to have a material impact onKey’s disclosures. |
| ASU 2023-09 IncomeTaxes (Topic 740) | January 1, 2025Early adoption ispermitted. | 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. | The guidance is not expected to have a material impact onKey’s disclosures. |
| ASU 2024-01 Compensation—Stock Compensation (Topic 718) | January 1, 2025Early adoption ispermitted. | This guidance adds illustrative examples clarifying how to account for profits interest awards.The guidance should be applied on a prospective or retrospective basis. | This guidance is not expected to have a material impact on Key’s financial condition or results of operations. |
| ASU 2024-02 Codification Improvements—Amendments toRemove References to theConcepts Statements | January 1, 2025Early adoption ispermitted. | This guidance simplifies the Codification by removing references to Concepts Statements.The guidance should be applied on a prospective or retrospective basis. | This guidance is not expected to have a material impact on Key’s financial condition or results of operations. |
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