Company: KEY-PI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000091576-25-000058
Chunk: 221

Company: KEYCORP /NEW/
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 221
---
.(b)Amounts represent Level 3 interest rate lock commitments.(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 and vice versa based upon changes in the significance of unobservable inputs. 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. For more information on the valuation techniques used to measure classes of assets and liabilities measured at fair value on a nonrecurring basis, refer to Note 6 (“Fair Value Measurements”) in our 2024 Form 10-K. There were no liabilities measured at fair value on a nonrecurring basis at March 31, 2025, and December 31, 2024. The following table presents our assets measured at fair value on a nonrecurring basis at March 31, 2025, and December 31, 2024: March 31, 2025December 31, 2024Dollars in millionsLevel 1Level 2Level 3TotalLevel 1Level 2Level 3TotalASSETS MEASURED ON A NONRECURRING BASISCollateral-dependent loans$— $— $69 $69 $— $— $152 $152 Accrued income and other assets— — 16 16 — — 14 14 Total assets on a nonrecurring basis at fair value$— $— $85 $85 $— $— $166 $166 

67

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