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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
INTEREST INCOME      
Loans $ 4,267 $ 4,023 $ 3,677
Loans held for sale 63 66 52
Securities available for sale 537 409 369
Held-to-maturity securities 262 284 222
Trading account assets 32 29 27
Short-term investments 61 46 26
Other investments 13 21 17
Total interest income 5,235 4,878 4,390
INTEREST EXPENSE      
Deposits 853 517 278
Federal funds purchased and securities sold under repurchase agreements 2 11 1
Bank notes and other short-term borrowings 17 21 15
Long-term debt 454 420 319
Total interest expense 1,326 969 613
NET INTEREST INCOME 3,909 3,909 3,777
Provision for credit losses 445 246 229
Net interest income after provision for credit losses 3,464 3,663 3,548
NONINTEREST INCOME      
Trust and investment services income 475 499 535
Investment banking and debt placement fees 630 650 603
Service charges on deposit accounts 337 349 357
Operating lease income and other leasing gains 162 89 96
Corporate services income 236 233 219
Cards and payments income 275 270 287
Corporate-owned life insurance income 136 137 131
Consumer mortgage income 46 30 26
Mortgage servicing fees 94 82 71
Other income [1] 68 176 153
Total noninterest income 2,459 2,515 2,478
NONINTEREST EXPENSE      
Personnel 2,250 2,309 2,278
Net occupancy 293 308 331
Computer processing 214 210 225
Business services and professional fees 186 184 192
Equipment 100 105 114
Operating lease expense 123 120 92
Marketing 96 102 120
FDIC assessment 31 72 82
Intangible asset amortization 89 99 95
OREO expense, net 13 6 11
Other expense 506 460 558
Total noninterest expense 3,901 3,975 4,098
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 2,022 2,203 1,928
Income taxes 314 344 637
INCOME (LOSS) FROM CONTINUING OPERATIONS 1,708 1,859 1,291
Income (loss) from discontinued operations 9 7 7
NET INCOME (LOSS) 1,717 1,866 1,298
Less: Net income (loss) attributable to noncontrolling interests 0 0 2
NET INCOME (LOSS) ATTRIBUTABLE TO KEY 1,717 1,866 1,296
Income (loss) from continuing operations attributable to Key common shareholders 1,611 1,793 1,219
Net income (loss) attributable to Key common shareholders $ 1,620 $ 1,800 $ 1,226
Per Common Share:      
Income (loss) from continuing operations attributable to Key common shareholders (in dollars per share) $ 1.62 $ 1.72 $ 1.13
Income (loss) from discontinued operations, net of taxes (in dollars per share) 0.01 0.01 0.01
Net income (loss) attributable to Key common shareholders (in dollars per share) [2] 1.63 1.73 1.14
Per Common Share — assuming dilution:      
Income (loss) from continuing operations attributable to Key common shareholders (in dollars per share) 1.61 1.70 1.12
Income (loss) from discontinued operations, net of taxes (in dollars per share) 0.01 0.01 0.01
Net income (loss) attributable to Key common shareholders (in dollars per share) [2] 1.62 1.71 1.13
Cash dividends declared per common share (in dollars per share) $ 0.71 $ 0.565 $ 0.38
Weighted-average common shares outstanding (in shares) 992,091 1,040,890 1,072,078
Effect of convertible preferred stock (in shares) 0 0 0
Effect of common share options and other stock awards (in shares) 10,163 13,792 16,515
Weighted-average common shares and potential common shares outstanding (in shares) [3] 1,002,254 1,054,682 1,088,593
[1]
Net securities gains (losses) totaled $20 million for the year ended December 31, 2019, less than $1 million for the year ended December 31, 2018, and $1 million for the year ended December 31, 2017. For 2019, 2018, and 2017, we did not have any impairment losses related to securities.
[2]
EPS may not foot due to rounding.
[3]
Assumes conversion of Common Share options and other stock awards and/or convertible preferred stock, as applicable.