Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 40

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 40
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 of the internal forecast utilized in the income approach by comparing the internal forecast to other analyses used within the organization and inquiries performed of senior management regarding strategic plans for the reporting unit. We also performed sensitivity analyses related to significant assumptions to evaluate the change in the fair value of the reporting unit resulting from changes in the assumptions.With the assistance of EY specialists, we evaluated management’s fair value methodology, assessed the reasonableness of significant assumptions used in the discounted cash flow method of the income approach and reconciled management’s estimated fair value of KeyCorp to its market capitalization as of the interim measurement date.  

We have served as KeyCorp’s auditor since 1994.Cleveland, OhioFebruary 21, 2025

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Consolidated Balance Sheets

December 31,Dollars in millions, except per share data20242023ASSETSCash and due from banks$1,743 $941 Short-term investments17,504 10,817 Trading account assets1,283 1,142 Securities available for sale37,707 37,185 Held-to-maturity securities (fair value: $6,837 and $8,056)7,395 8,575 Other investments1,041 1,244 Loans, net of unearned income of $311 and $356104,260 112,606 Allowance for loan and lease losses(1,409)(1,508)Net loans102,851 111,098 Loans held for sale (a)797 483 Premises and equipment614 661 Goodwill2,752 2,752 Other intangible assets27 55 Corporate-owned life insurance4,394 4,383 Accrued income and other assets8,797 8,601 Discontinued assets263 344 Total assets$187,168 $188,281 LIABILITIESDeposits in domestic offices:Interest-bearing deposits$120,132 $114,859 Noninterest-bearing deposits29,628 30,728 Total deposits149,760 145,587 Federal funds purchased and securities sold under repurchase agreements14 38 Bank notes and other short-term borrowings2,130 3,053 Accrued expense and other liabilities4,983 5,412 Long-term debt12,105 19,554 Total liabilities168,992 173,644 EQUITYPreferred stock2,500 2,