Company: KEY-PI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000091576-25-000058
Chunk: 180

Company: KEYCORP /NEW/
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 1
Chunk 180
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2024 Form 10-K. There were no changes to goodwill balances in the first quarter of 2025.The carrying amount of goodwill by reporting segment is presented in the following table:Dollars in millionsConsumer BankCommercial BankTotalBALANCE AT MARCH 31, 2024$1,819 $933 $2,752 BALANCE AT DECEMBER 31, 2024$1,819 $933 $2,752 BALANCE AT MARCH 31, 2025$1,819 $933 $2,752 

11. Variable Interest Entities Our significant VIEs are summarized below. Additional information pertaining to the criteria used in determining if an entity is a VIE is included in Note 13 (“Variable Interest Entities”) beginning on page 156 of our 2024 Form 10-K.LIHTC and NMTC investments. We had $2.4 billion and $2.5 billion of investments in LIHTC operating partnerships at March 31, 2025, and December 31, 2024, respectively. These investments are recorded in “accrued income and other assets” on our Consolidated Balance Sheets. We do not have any loss reserves recorded related to these investments because we believe the likelihood of any loss to be remote. For all legally binding, unfunded equity commitments, we increase our recognized investment and recognize a liability. As of March 31, 2025, and December 31, 2024, we had liabilities of $1.3 billion and $1.4 billion, respectively, related to investments in qualified affordable housing projects, which are recorded in “accrued expenses and other liabilities” on our Consolidated Balance Sheets. We continue to invest in these LIHTC operating partnerships.The assets and liabilities presented in the table below convey the size of KCDC’s direct and indirect investments at March 31, 2025, and December 31, 2024. As these investments represent unconsolidated VIEs, the assets and liabilities of the investments themselves are not recorded on our Consolidated Balance Sheets. Additional 

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information pertaining to our LIHTC investments is included in Note 13 (“Variable Interest Entities”) beginning on page 156 of our 2024 Form 10-K. Unconsolidated VIEsDollars in millionsTotalAssetsTotalLiabilitiesMaximumExposure to LossMarch 31, 2025LIHTC investments$9