Company: KEY-PI
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048757
Chunk: 65

Company: KEYCORP /NEW/
Filing Date: 2025-11-04
Form: 10-Q
Item: Item 2
Chunk 65
---
 of costs and expenses.The guidance could be applied on a prospective or retrospective basis.The guidance is not expected to have a material impact on Key’s disclosures.ASU 2025-06 - Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40) January 1, 2028Early adoption permitted.The guidance revises the accounting for internal-use software by replacing prescriptive development stage guidance with a principle-based capitalization threshold. Entities are required to begin capitalizing costs when management commits funding and it is probable the software will be completed and used as intended.This guidance may be applied on a prospective, retrospective or modified retrospective basis.Key is currently evaluating the impact of this guidance on its financial condition and results of operations.

47

Item 1. Financial Statements

Consolidated Balance Sheets

Dollars in millions, except per share dataSeptember 30,2025December 31,2024 (Unaudited) ASSETSCash and due from banks$1,938 $1,743 Short-term investments13,334 17,504 Trading account assets972 1,283 Securities available for sale40,456 37,707 Held-to-maturity securities (fair value: $7,164 and $6,837)7,509 7,395 Other investments921 1,041 Loans, net of unearned income of $292 and $311105,902 104,260 Less: Allowance for loan and lease losses(1,444)(1,409)Net loans104,458 102,851 Loans held for sale (a)998 797 Premises and equipment606 614 Goodwill2,752 2,752 Other intangible assets13 27 Corporate-owned life insurance4,428 4,394 Accrued income and other assets8,803 8,797 Discontinued assets221 263 Total assets$187,409 $187,168 LIABILITIESDeposits in domestic offices:Interest-bearing deposits$122,425 $120,132 Noninterest-bearing deposits28,340 29,628 Total deposits150,765 149,760 Federal funds purchased and securities sold under repurchase agreements10 14 Bank notes and other short-term borrowings1,339 2,130 Accrued expense and other liabilities4,276 4,983 Long-term debt10,917