Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 162

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 162
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 expense and other liabilities$536 $511 Long-term debt due to:Subsidiaries444 447 Unaffiliated companies (a)4,850 3,870 Total long-term debt5,294 4,317 Total liabilities5,830 4,828 SHAREHOLDERS’ EQUITY (b)18,176 14,637 Total liabilities and shareholders’ equity$24,006 $19,465 (a)See Note 20 (“Long-Term Debt”) for information regarding contractual rates and maturity dates of debt that is held by the parent company.(b)See Key’s Consolidated Statements of Changes in Equity.CONDENSED STATEMENTS OF INCOME  Year ended December 31,Dollars in millions202420232022INCOMEDividends from subsidiaries:Bank subsidiaries$750 $675 $475 Nonbank subsidiaries— — 100 Interest income from subsidiaries20 15 4 Other income14 24 7 Total income784 714 586 EXPENSEInterest on long-term debt with subsidiary trusts33 33 19 Interest on other borrowed funds341 273 130 Personnel and other expense77 111 101 Total expense451 417 250 Income (loss) before income taxes and equity in net income (loss) less dividends from subsidiaries333 297 336 Income tax (expense) benefit94 95 60 Income (loss) before equity in net income (loss) less dividends from subsidiaries427 392 396 Equity in net income (loss) less dividends from subsidiaries(588)575 1,521 NET INCOME (LOSS)$(161)$967 $1,917 Total other comprehensive income (loss), net of tax (a)1,759 1,066 (5,709)Comprehensive income (loss)$1,598 $2,033 $(3,792)(a) See Key’s Consolidated Statements of Comprehensive Income.

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CONDENSED STATEMENTS OF CASH FLOWS Year ended December 31,Dollars in millions202420232022OPERATING ACTIVITIESNet income (loss) attributable to Key$(161)$967 $1,917 Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:Deferred income taxes (benefit)10 (6)6 Stock-based compensation expense10 9 117 Equ