Company: KEY-PI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000091576-25-000110
Chunk: 66

Company: KEYCORP /NEW/
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 2
Chunk 66
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 for significant or unusual items provide investors with useful information to gain a better understanding of ongoing operations and enhance comparability of results with prior periods, as well as demonstrate the effects of the financial impacts related to those selected items.

 Three months endedSix months endedDollars in millions6/30/20253/31/202512/31/20249/30/20246/30/20246/30/20256/30/2024Adjusted noninterest expenseNoninterest expense (GAAP)$1,154 $1,131 $1,229 $1,094 $1,079 $2,285 $2,222 Adjustments:FDIC special assessment (other expense)— — 3 6 (5)— (34)Adjusted noninterest expense (non-GAAP)$1,154 $1,131 $1,232 $1,100 $1,074 $2,285 $2,188 Adjusted noninterest incomeNoninterest income (GAAP)$690 $668 $(196)$(269)$627 $1,358 $1,274 Adjustments:Loss on sale of securities for securities repositioning— — 915 918 — — — Scotiabank investment agreement valuation (other income)— — 3 — — — — Adjusted noninterest income (non-GAAP)$690 $668 $722 $649 $627 $1,358 $1,274 

Critical Accounting Policies and Estimates

Our business is dynamic and complex. Consequently, we must exercise judgment in choosing and applying accounting policies and methodologies. These choices are critical – not only are they necessary to comply with GAAP, they also reflect our view of the appropriate way to record and report our overall financial performance. All accounting policies are important, and all policies described in Note 1 (“Summary of Significant Accounting Policies”) beginning on page 110 of our 2024 Form 10-K should be reviewed for a greater understanding of how we record and report our financial performance. Note 1 (“Basis of Presentation and Accounting Policies”) of this report should also be reviewed for more information on accounting standards that have been adopted during the period.

In our opinion, some accounting policies are more likely than others to have a critical effect on our financial results and to expose those results to potentially greater volatility. These policies apply to areas of relatively greater business importance