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Long-Term Debt (Tables)
 12 Months Ended
Dec. 31, 2011
Long Term Debt (Tables) [Abstract]  
Components of long-term debt
                 

December 31,

 

dollars in millions

  2011     2010  

Senior medium-term notes due through 2015 (a)

   $ 3,074     $ 2,193  

Senior Euro medium-term notes due through 2011 (b)

     —       40  

1.112% Subordinated notes due 2028 (c)

     162       159  

6.875% Subordinated notes due 2029 (c)

     118       101  

7.750% Subordinated notes due 2029(c)

     152       129  

5.875% Subordinated notes due 2033 (c)

     —       128  

6.125% Subordinated notes due 2033 (c)

     —       61  

5.700% Subordinated notes due 2035 (c)

     195       196  

7.000% Subordinated notes due 2066 (c)

     —       197  

6.750% Subordinated notes due 2066 (c)

     —       329  

8.000% Subordinated notes due 2068 (c)

     598       597  

9.580% Subordinated notes due 2027 (c)

     —       21  

3.853% Subordinated notes due 2031 (c)

     —       20  

3.078% Subordinated notes due 2034 (c)

     —       10  

Total parent company

    4,299       4,181  

Senior medium-term notes due through 2039 (d)

     1,494       1,551  

Senior Euro medium-term notes due through 2013 (e)

     579       1,118  

7.413% Subordinated remarketable notes due 2027 (f)

     265       263  

7.00% Subordinated notes due 2011 (f)

     —       505  

7.30% Subordinated notes due 2011 (f)

     —       109  

5.70% Subordinated notes due 2012 (f)

     308       321  

5.80% Subordinated notes due 2014 (f)

     830       841  

4.95% Subordinated notes due 2015 (f)

     252       252  

5.45% Subordinated notes due 2016 (f)

     573       561  

5.70% Subordinated notes due 2017 (f)

     242       230  

4.625% Subordinated notes due 2018 (f)

     106       97  

6.95% Subordinated notes due 2028 (f)

     300       300  

Lease financing debt due through 2015 (g)

     19       38  

Federal Home Loan Bank advances due through 2036 (h)

     225       212  

Investment Fund Financing due through 2040 (i)

     28       13  

Total subsidiaries

    5,221       6,411  

Total long-term debt

  $   9,520     $   10,592  
   

 

 

    

 

 

  
                 

We use interest rate swaps and caps, which modify the repricing characteristics of certain long-term debt, to manage interest rate risk. For more information about such financial instruments, see Note 8 (“Derivatives and Hedging Activities”).

 

(a) The senior medium-term notes had weighted-average interest rates of 4.49% at December 31, 2011, and 3.77% at December 31, 2010. These notes had a combination of fixed and floating interest rates, and may not be redeemed prior to their maturity dates.

 

(b) Senior Euro medium-term notes had weighted-average interest rates of .60% at December 31, 2010. These notes had a floating interest rate based on the three-month LIBOR and may not be redeemed prior to their maturity dates.

 

(c) See Note 17 (“Capital Securities Issued by Unconsolidated Subsidiaries”) for a description of these notes.

 

(d) Senior medium-term notes had weighted-average interest rates of 3.91% at December 31, 2011, and 3.87% at December 31, 2010. These notes had a combination of fixed and floating interest rates, and may not be redeemed prior to their maturity dates.

 

(e) Senior Euro medium-term notes had weighted-average interest rates of .59% at December 31, 2011, and .44% at December 31, 2010. These notes had a combination of fixed and floating interest rates based on LIBOR, and may not be redeemed prior to their maturity dates.

 

(f) These notes are all obligations of KeyBank. Only the subordinated remarketable notes due 2027 may be redeemed prior to their maturity dates.

 

(g) Lease financing debt had weighted-average interest rates of 5.44% at December 31, 2011, and 5.89% at December 31, 2010. This category of debt consists primarily of nonrecourse debt collateralized by leased equipment under operating, direct financing and sales-type leases.

 

(h) Long-term advances from the Federal Home Loan Bank had weighted-average interest rates of 3.75% at December 31, 2011 and 4.08% at December 31, 2010. These advances, which had a combination of fixed and floating interest rates, were secured by real estate loans and securities totaling $428 million at December 31, 2011, and $335 million at December 31, 2010.

 

(i) Investment Fund Financing had a weighted-average interest rate of 2.30% at December 31, 2011.
Scheduled principal payments on long-term debt
                             
in millions   Parent     Subsidiaries     Total      

2012

   $         438      $         2,256      $         2,694       

2013

     762        37        799       

2014

     —        842        842       

2015

     766        407        1,173       

2016

     —        613        613       

All subsequent years

 

    

 

 2,333 

 

  

 

    

 

 1,066 

 

  

 

    

 

 3,399