Company: KEY-PI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000091576-25-000110
Chunk: 178

Company: KEYCORP /NEW/
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 178
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 TYPEIndirect investments (measured at NAV) (a)$13 $1 $— $— $— $— $— $— $— $— Total$13 $1 $— $— $— $— $— $— $— $— (a)      Our indirect investments consist of buyout funds, venture capital funds, and fund of funds. These investments are generally not redeemable. Instead, distributions are received through the liquidation of the underlying investments of the fund. An investment in any one of these funds typically can be sold only with the approval of the fund’s general partners. At June 30, 2025, no significant liquidation of the underlying investments has been communicated to Key. The purpose of funding our capital commitments to these investments is to allow the funds to make additional follow-on investments and pay fund expenses until the fund dissolves. We, and all other investors in the fund, are obligated to fund the full amount of our respective capital commitments to the fund based on our and their respective ownership percentages, as noted in the applicable Limited Partnership Agreement.Changes in Level 3 Fair Value Measurements The following table shows the components of the change in the fair values of our Level 3 financial instruments measured at fair value on a recurring basis for the three and six months ended June 30, 2025, and June 30, 2024. Dollars in millionsBeginning of Period BalanceGains (Losses) Included in Other Comprehensive IncomeGains (Losses) Included in EarningsPurchasesSalesSettlementsTransfers OtherTransfers into Level 3Transfers out of Level 3End of Period BalanceUnrealized Gains (Losses) Included in EarningsSix months ended June 30, 2025Other investmentsEquity investmentsDirect$2 $— $1 (c)$— $— $— $— $— $— $3 — Loans, net of unearned income (residential)10 — 1 — — — (1)— 1 11 — Derivative instruments (a)Interest rate(4)— 8 (d)7 — — — (5)(e)(4)(e) 2 — Other (b)— — — — — — 2 —