Company: KEY-PI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000091576-25-000110
Chunk: 251

Company: KEYCORP /NEW/
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 8
Chunk 251
---
 in our 2024 Form 10-K. There were no liabilities measured at fair value on a nonrecurring basis at June 30, 2025, and December 31, 2024. 

70

The following table presents our assets measured at fair value on a nonrecurring basis at June 30, 2025, and December 31, 2024: June 30, 2025December 31, 2024Dollars in millionsLevel 1Level 2Level 3TotalLevel 1Level 2Level 3TotalASSETS MEASURED ON A NONRECURRING BASISCollateral-dependent loans$— $— $129 $129 $— $— $152 $152 Loans held for sale— — 19 19 — — — — Accrued income and other assets— — 11 11 — — 14 14 Total assets on a nonrecurring basis at fair value$— $— $159 $159 $— $— $166 $166 We have other investments in equity securities that do not have readily determinable fair values and do not qualify for the practical expedient to measure the investment using a net asset value per share. We have elected to measure these securities at cost less impairment plus or minus adjustments due to observable orderly transactions. Impairment is recorded when there is evidence that the expected fair value of the investment has declined to below the recorded cost. At each reporting period, we assess if these investments continue to qualify for this measurement alternative. At June 30, 2025, and December 31, 2024, the carrying amount of equity investments under this method was $423 million and $394 million, respectively. We had no adjustments or impairments for the three months ended June 30, 2025 and less than $1 million of impairment for the six months ended June 30, 2025.Quantitative Information about Level 3 Fair Value MeasurementsThe range and weighted-average of the significant unobservable inputs used to measure the fair value of our material Level 3 recurring and nonrecurring assets at June 30, 2025, and December 31, 2024, along with the valuation techniques used, are shown in the following table:Level 3 Asset (Liability) Valuation TechniqueSignificantUnobservable InputRange (Weighted