Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2011

Earnings Per Common Share (Tables) [Abstract]

Basic and diluted earnings per common share

Year ended December 31,
dollars in millions, except per share amounts	2011		2010		2009
EARNINGS
Income (loss) from continuing operations	$	976	$	607	$	(1,263)
Less:   Net income (loss) attributable to noncontrolling interests		12		30		24
Income (loss) from continuing operations attributable to Key		964		577		(1,287)
Less:   Dividends on Series A Preferred Stock		23		23		39
Noncash deemed dividend — common shares exchanged for Series A Preferred Stock		—		—		114
Cash dividends on Series B Preferred Stock (b)		31		125		125
Amortization of discount on Series B Preferred Stock (b)		53		16		16
Income (loss) from continuing operations attributable to Key common shareholders		857		413		(1,581)
Income (loss) from discontinued operations, net of taxes (a)		(44)		(23)		(48)
Net income (loss) attributable to Key common shareholders	$	813	$	390	$	(1,629)
WEIGHTED-AVERAGE COMMON SHARES
Weighted-average common shares outstanding (000)		931,934		874,748		697,155
Effect of dilutive convertible preferred stock, common stock options and other stock awards (000)		3,867		3,405		—
Weighted-average common shares and potential common shares outstanding (000)		935,801		878,153		697,155
EARNINGS PER COMMON SHARE
Income (loss) from continuing operations attributable to Key common shareholders	$	.92	$	.47	$	(2.27)
Income (loss) from discontinued operations, net of taxes (a)		(.05)		(.03)		(.07)
Net income (loss) attributable to Key common shareholders(c)		.87		.45		(2.34)
Income (loss) from continuing operations attributable to Key common shareholders —  assuming dilution	$	.92	$	.47	$	(2.27)
Income (loss) from discontinued operations, net of taxes (a)		(.05)		(.03)		(.07)
Net income (loss) attributable to Key common shareholders — assuming dilution (c)		.87		.44		(2.34)

(a) In September 2009, we decided to discontinue the education lending business conducted through Key Education Resources, the education payment and financing unit of KeyBank. In April 2009, we decided to wind down the operations of Austin, a subsidiary that specialized in managing hedge fund investments for institutional customers. As a result of these decisions, we have accounted for these businesses as discontinued operations. The loss from discontinued operations for the year ended December 31, 2011, was primarily attributable to fair value adjustments related to the education lending securitization trusts.

(b) Includes a $49 million deemed dividend recorded in the first quarter of 2011 related to the repurchase of the $2.5 billion Series B Preferred Stock.

(c) EPS may not foot due to rounding.