Company: KEY-PI
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000091576-25-000038
Chunk: 137

Company: KEYCORP /NEW/
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 137
---
Expected return on plan assets(39)(42)(27)(2)(2)(2)Amortization of losses (gains)9 9 15 (1)(1)(1)Amortization of prior service credit— — — (1)(1)(1)Settlement loss— 18 12 — — — Net pension cost$11 $30 $27 $(2)$(2)$(2)Other changes in plan assets and benefit obligations recognized in OCI:Net (gain) loss$26 $26 $31 $1 $1 $1 Amortization of (gains)6 (27)(27)— — — Amortization of prior service credit— — — 1 1 1 Total recognized in comprehensive income$32 $(1)$4 $2 $2 $2 Total recognized in net pension cost and comprehensive income$43 $29 $31 $— $— $— The information related to our pension plans and postretirement benefit plan presented in the following tables is based on current actuarial reports using measurement dates of December 31, 2024, and December 31, 2023.The following table summarizes changes in the PBO and changes in the FVA related to our pension plans and post retirement benefit plan. Actuarial gains in 2024 associated with the pension plans were primarily driven by an increase in discount rates. Actuarial losses in 2024 associated with the postretirement benefit plan are a result of asset performance.Year ended December 31,Dollars in millionsPension PlansPostretirement Benefit Plan2024202320242023PBO at beginning of year$923 $965 $40 $40 Interest cost41 45 2 2 Actuarial losses (gains)(34)10 6 6 Plan participants’ contributions— — 1 1 Benefit payments(84)(97)(8)(9)PBO at end of year$846 $923 $41 $40 FVA at beginning of year$827 $886 $40 $40 Actual return on plan assets49 $25 8 $8 Employer contributions13 $13 — $— Plan participants’ contributions— $— 1 $1 Benefit payments(84)