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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
INTEREST INCOME    
Loans $ 1,538 $ 1,476
Loans held for sale 14 13
Securities available for sale 232 194
Held-to-maturity securities 75 74
Trading account assets 14 12
Short-term investments 142 42
Other investments 17 13
Total interest income 2,032 1,824
INTEREST EXPENSE    
Deposits 782 350
Federal funds purchased and securities sold under repurchase agreements 1 22
Bank notes and other short-term borrowings 46 78
Long-term debt 328 275
Total interest expense 1,157 725
NET INTEREST INCOME 875 1,099
Provision for credit losses 101 139
Net interest income after provision for credit losses 774 960
NONINTEREST INCOME    
Trust and investment services income 136 128
Investment banking and debt placement fees 170 145
Cards and payments income 77 81
Service charges on deposit accounts 63 67
Corporate services income 69 76
Commercial mortgage servicing fees 56 46
Corporate-owned life insurance income 32 29
Consumer mortgage income 14 11
Operating lease income and other leasing gains 24 25
Other income 6 0
Total noninterest income 647 608
NONINTEREST EXPENSE    
Personnel 674 701
Net occupancy 67 70
Computer processing 102 92
Business services and professional fees 41 45
Equipment 20 22
Operating lease expense 17 20
Marketing 19 21
Other expense 203 205
Total noninterest expense 1,143 1,176
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 278 392
Income taxes 59 81
INCOME (LOSS) FROM CONTINUING OPERATIONS 219 311
Income (loss) from discontinued operations 0 1
NET INCOME (LOSS) 219 312
Less: Net income (loss) attributable to noncontrolling interests 0 0
NET INCOME (LOSS) ATTRIBUTABLE TO KEY 219 312
Income (loss) from continuing operations attributable to Key common shareholders 183 275
Net income (loss) attributable to Key common shareholders $ 183 $ 276
Per Common Share:    
Income (loss) from continuing operations attributable to Key common shareholders (in usd per share) $ 0.20 $ 0.30
Income (loss) from discontinued operations, net of taxes (in usd per share) 0 0
Net income (loss) attributable to Key common shareholders (in usd per share) [1] 0.20 0.30
Per Common Share — assuming dilution:    
Income (loss) from continuing operations attributable to Key common shareholders (in usd per share) 0.20 0.30
Income (loss) from discontinued operations, net of taxes (in usd per share) 0 0
Net income (loss) attributable to Key common shareholders (in usd per share) [1] $ 0.20 $ 0.30
Weighted-average Common Shares outstanding (in shares) 929,692 926,490
Effect of Common Share options and other stock awards (in shares) 7,319 7,314
Weighted-average Common Shares and potential Common Shares outstanding (in shares) [2] 937,011 933,804
[1] EPS may not foot due to rounding.
[2] Assumes conversion of Common Share options and other stock awards and/or convertible preferred stock, as applicable.