KEYCORP /NEW/
For the period ended Dec 31, 2025. Filed Feb 23, 2026.
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FY2025 · Filed Feb 23, 2026
KEY$20.85-0.5%Stored close · as of Nov 6, 2026
Contents
Accounting and reporting developments
The following table presents accounting guidance pending adoption.
| Standard | Required Adoption | Description | Effect on Financial Statements or Other Significant Matters |
|---|---|---|---|
| ASU 2024-03 and ASU 2025-01 Income Statement— ReportingComprehensiveIncome—Expense Disaggregation Disclosures (Topic 220-40) | January 1, 2027Early adoption is permitted. | The guidance requires public companies disclose additional information about certain types of costs and expenses.The guidance could be applied on a prospective or retrospective basis. | The guidance is not expected to have a material impact on Key’s disclosures. |
| ASU 2025-06—Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40) | January 1, 2028Early adoption permitted. | The guidance revises the accounting for internal-use software by replacing prescriptive development stage guidance with a principle-based capitalization threshold. Entities are required to begin capitalizing costs when management commits funding and it is probable the software will be completed and used as intended.This guidance may be applied on a prospective, retrospective or modified retrospective basis. | We are currently evaluating the impact of this guidance on its financial condition and results of operations. |
| ASU 2025-08 Financial Instruments—Credit Losses (Topic 326): Purchased Loans | January 1, 2027Early adoption is permitted. | This guidance expands the types of acquired financial assets that must use the gross‑up approach under ASC 326. Certain non‑PCD loans considered “seasoned” are now accounted for using the gross‑up approach at acquisition. All non‑PCD loans acquired in a business combination are considered “seasoned” and other acquired loans are considered “seasoned” if they were purchased at least 90 days after origination and the acquirer did not originate the loans.This guidance must be applied prospectively to loans that are acquired on or after the initial application date. | While we are currently evaluating the impact of this guidance on its financial condition and results of operations, we would also assess for early adoption upon any applicable future activity. |
| ASU 2025-09 Derivatives and Hedging (Topic 815)Hedge Accounting Improvements | January 1, 2027Early adoption is permitted. | The accounting update expands cash flow hedge accounting by allowing the grouping of forecasted transactions with similar risk exposures. It introduces a model that allows entities to hedge forecasted interest payments on certain variable rate debt using simplified assumptions. The guidance also broadens hedge accounting for nonfinancial forecasted transactions, permitting eligible components of spot and forward purchases or sales to be designated as hedged risks. The amendments update hedge accounting for net written options to better reflect changes in interest rate markets proceeding the discontinuation of LIBOR. Further, this new guidance improves accounting for dual hedge strategies involving foreign currency debt by eliminating recognition mismatches and better reflecting the economics of combined interest rate and foreign exchange risk management.The guidance should be applied on a prospective basis. | We will early adopt this guidance within the first half of 2026 and do not expect it to have a material impact on our financial condition or results of operations. |
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