Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 47

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 47
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941 887 913 CASH AND DUE FROM BANKS AT END OF YEAR$1,743 $941 $887 Additional disclosures relative to cash flows:Interest paid$4,160 $3,109 $601 Income taxes paid68 156 292 Noncash items:Reduction of secured borrowing and related collateral$4 $6 $9 Loans transferred to portfolio from held for sale124 208 105 Loans transferred to held for sale from portfolio3 19 — Loans transferred to other real estate owned6 7 6 CMBS risk retentions— — 12 ABS risk retentions5 7 8 

See Notes to Consolidated Financial Statements.

109

1. Summary of Significant Accounting Policies OrganizationWe are one of the nation’s largest bank-based financial services companies, providing deposit, lending, cash management, and investment services to individuals and small and medium-sized businesses through our subsidiary, KeyBank. We also provide a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States through our subsidiary, KBCM. As of December 31, 2024, KeyBank operated 944 full-service retail banking branches and 1,182 ATMs in 15 states, as well as additional offices, online and mobile banking capabilities, and a telephone banking call center. Additional information pertaining to our two reportable business segments, Consumer Bank and Commercial Bank, is included in Note 25 (“Business Segment Reporting”).Use of EstimatesOur accounting policies conform to US GAAP and prevailing practices within the financial services industry. We must make certain estimates and judgments when determining the amounts presented in our consolidated financial statements and the related notes. If these estimates prove to be inaccurate, actual results could differ from those reported.Principles of Consolidation and Basis of PresentationThe consolidated financial statements include the accounts of KeyCorp and its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Some previously reported amounts have been reclassified in the Consolidated Statements of Cash Flows from “other operating activities, net” to either the net change in “accrued income and other assets” or “accrued expense and other liabilities” to align with updated presentation. Some previously reported amounts have been reclassified in the Consolidated Statements of Income from “other income” to “net securities gains (