Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 92

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 92
---
 Level 3 derivative liabilities.(b)Amounts represent Level 3 interest rate lock commitments.

138

(c)Realized and unrealized gains and losses on principal investments are reported in “other income” on the income statement. (d)Realized and unrealized gains and losses on derivative instruments are reported in “corporate services income” and “other income” on the income statement.(e)Certain derivatives previously classified as Level 2 were transferred to Level 3 because Level 3 unobservable inputs became significant. Certain derivatives previously classified as Level 3 were transferred to Level 2 because Level 3 unobservable inputs became less significant.Assets and Liabilities Measured at Fair Value on a Nonrecurring BasisCertain assets and liabilities are measured at fair value on a nonrecurring basis in accordance with GAAP. The adjustments to fair value generally result from the application of accounting guidance that requires assets and liabilities to be recorded at the lower of cost or fair value, or assessed for impairment. There were no liabilities measured at fair value on a nonrecurring basis at December 31, 2024, and December 31, 2023. The following table presents our assets measured at fair value on a nonrecurring basis at December 31, 2024, and December 31, 2023: December 31, 2024December 31, 2023Dollars in millionsLevel 1Level 2Level 3TotalLevel 1Level 2Level 3TotalASSETS MEASURED ON A NONRECURRING BASISCollateral-dependent loans$— $— $152 $152 $— $— $104 $104 Accrued income and other assets— — 14 14 — — 29 29 Total assets on a nonrecurring basis at fair value$— $— $166 $166 $— $— $133 $133  Qualitative Disclosures of Valuation TechniquesThe following table describes the valuation techniques and significant inputs used to measure the significant classes of assets and liabilities reported at fair value on a nonrecurring basis, as well as the classification of each within the valuation hierarchy.Asset/liability classValuation techniqueValuation hierarchy classification(s)Collateral-dependent loansWhen a loan is collateral-dependent, the fair value of the loan is determined based on the fair value of the underlying collateral less estimated selling costs. Level 3OREO, other repossessed personal