Company: KEY-PI
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000091576-25-000058
Chunk: 58

Company: KEYCORP /NEW/
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 2
Chunk 58
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 evaluate a company,

they have limitations as analytical tools, and should not be considered in isolation, nor as a substitute for analyses

of results as reported under GAAP.

The tangible common equity ratio and the return on tangible common equity ratio have been a focus for some investors, and management believes that these ratios may assist investors in analyzing Key’s capital position without regard to the effects of intangible assets and preferred stock. Since analysts and banking regulators may assess our capital adequacy using tangible common equity, we believe it is useful to enable investors to assess our capital adequacy on these same bases.

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 Three months endedDollars in millions3/31/202512/31/20249/30/20246/30/20243/31/2024Tangible common equity to tangible assets at period-endKey shareholders’ equity (GAAP)$19,003 $18,176 $16,852 $14,789 $14,547 Less:Intangible assets2,774 2,779 2,786 2,793 2,799 Preferred Stock (a)2,446 2,446 2,446 2,446 2,446 Tangible common equity (non-GAAP)$13,783 $12,951 $11,620 $9,550 $9,302 Total assets (GAAP)$188,691 $187,168 $189,763 $187,450 $187,485 Less:Intangible assets2,774 2,779 2,786 2,793 2,799 Tangible assets (non-GAAP)$185,917 $184,389 $186,977 $184,657 $184,686 Tangible common equity to tangible assets ratio (non-GAAP)7.4 %7.0 %6.2 %5.2 %5.0 %Average tangible common equityAverage Key shareholders’ equity (GAAP)$18,632 $16,732 $15,759 $14,474 $14,649 Less:Intangible assets (average)2,777 2,783 2,789 2,796 2,802 Preferred Stock (average)2,500 2,500 2,500 2,500 2,500 Average tangible common equity (non-GAAP)$13,355 $11,449 $10