Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 143

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 143
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3TotalASSET CLASSMutual funds:Equity — U.S.$24 $— $— $24 Equity — International7 — — 7 Fixed income — U.S.8 — — 8 Other assets (measured at NAV)— — — 1 Total net assets at fair value$39 $— $— $40 (a)Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the fair value of plan assets presented elsewhere within this footnote.

168

Employee 401(k) Savings PlanA substantial number of our employees are covered under a savings plan that is qualified under Section 401(k) of the Internal Revenue Code. The plan permits employees to contribute from 1% to 100% of eligible compensation, with up to 7% being eligible for matching contributions in 2024. The plan also permits us to provide a discretionary annual profit sharing contribution to eligible employees who have at least one year of service. We did not accrue  profit sharing contributions for 2024, 2023 or 2022. We also maintain a deferred savings plan that provides certain employees with benefits they otherwise would not have been eligible to receive under the qualified plan once their compensation for the plan year reached the IRS contribution limits. Total expense associated with the above plans was $145 million in 2024, $99 million in 2023, and $82 million in 2022.

19. Short-Term BorrowingsSelected financial information pertaining to the components of our short-term borrowings is as follows:December 31,   Dollars in millions202420232022FEDERAL FUNDS PURCHASEDBalance at year end$— $— $4,006 Average during the year67 1,098 1,490 Maximum month-end balance— 3,020 5,872 Weighted-average rate during the year 5.29 %4.83 %2.04 %Weighted-average rate at December 31 — — 4.18 SECURITIES SOLD UNDER REPURCHASE AGREEMENTSBalance at year end$14 $38 $71 Average during the year36 549 617 Maximum month-end balance44 1,954