KEYCORP /NEW/

10-K & 10-Q Filings

KeyCorp is a bank holding company headquartered in Cleveland, Ohio. It is one of the largest financial services companies in the United States with consolidated total assets of approximately $188.3 billion as of December 31, 2023. KeyCorp is the parent holding company for KeyBank National Association, which provides a wide range of retail and commercial banking, investment management, and financial services to individuals, corporations, and institutions. The company operates through two major business segments: Consumer Bank and Commercial Bank. The Consumer Bank serves individuals and small businesses through a network of 959 full-service retail banking branches, 1,217 ATMs, and digital banking services. It offers a variety of deposit and investment products, personal finance and financial wellness services, lending, student loan refinancing, mortgage and home equity, credit card, treasury services, and business advisory services. The Commercial Bank consists of the Commercial and Institutional operating segments. The Commercial operating segment focuses on serving the borrowing, cash management, and capital markets needs of middle market clients and is a significant, national, commercial real estate lender and third-party servicer of commercial mortgage loans. The Institutional operating segment operates nationally in providing lending, equipment financing, and banking products and services to large corporate and institutional clients. KeyCorp's website is www.key.com, and its ticker symbol is KEY. The company competes with other providers of financial services, including banks, savings associations, finance companies, mutual funds, insurance companies, investment management firms, investment banking firms, and broker-dealers. It invests in attracting, developing, and retaining talent by offering competitive total rewards packages, career development opportunities, and a fair and inclusive culture. The company's executive officers include Victor B. Alexander, Darrin L. Benhart, Amy G. Brady, Trina M. Evans, Kenneth C. Gavrity, Christopher M. Gorman, Clark H.I. Khayat, Allyson M. Kidik, Angela G. Mago, Mark W. Midkiff, Andrew J. Paine III, Douglas M. Schosser, Jaime Warder, and James L. Waters.

12 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 20233 mos ending Mar 31, 20233 mos ending Mar 31, 2024CAGR %YoY %Revenue (+)
$2035.00
2195.00
2234.00
2182.00
2653.00
3548.00
3663.00
3464.00
3013.00
4489.00
4025.00
3424.00
960.00
774.00
4.84%-19.38%Net Interest Income (+)
$2264.00
2325.00
2293.00
2348.00
2919.00
3777.00
3909.00
3909.00
4034.00
4071.00
4527.00
3913.00
1099.00
875.00
5.10%-20.38%Interest Expense (-)
$441.00
295.00
261.00
274.00
400.00
613.00
969.00
1326.00
651.00
296.00
885.00
4014.00
725.00
1157.00
22.23%59.59%Non Interest Income (+)
$-229.00
-130.00
-59.00
-166.00
-266.00
-229.00
-246.00
-445.00
-1021.00
418.00
-502.00
-489.00
-139.00
-101.00
27.34%Selling, General & Administrative (-)
$68.00
98.00
91.00
104.00
160.00
212.00
222.00
96.00
235.00
126.00
224.00
186.00
41.00
36.00
9.58%-12.20%Marketing Expenses (-)
$68.00
51.00
49.00
57.00
101.00
120.00
102.00
96.00
97.00
126.00
123.00
109.00
21.00
19.00
4.38%-9.52%Depreciation & Amortization (-)
$
14.00
39.00
36.00
55.00
95.00
99.00
89.00
65.00
58.00
Operating Expenses (-)
$2907.00
2820.00
2759.00
2840.00
3756.00
4098.00
3975.00
3901.00
4109.00
4429.00
4410.00
4734.00
1176.00
1143.00
4.53%-2.81%Operating Income/Loss (+)
$-889.00
-617.00
-527.00
-658.00
-1103.00
-550.00
-312.00
-437.00
-1096.00
60.00
-385.00
-1310.00
-216.00
-369.00
-70.83%Provision for Loan Loss (-)
$229.00
138.00
57.00
166.00
266.00
229.00
246.00
445.00
1021.00
-418.00
502.00
489.00
139.00
101.00
7.14%-27.34%Earnings before Tax (+)
$1095.00
1141.00
1272.00
1222.00
968.00
1928.00
2203.00
2022.00
1556.00
3254.00
2333.00
1160.00
392.00
278.00
0.53%-29.08%Tax Expense (-)
$239.00
271.00
326.00
303.00
179.00
637.00
344.00
314.00
227.00
642.00
422.00
196.00
81.00
59.00
-1.79%-27.16%Income/Loss (Continuing Operations) (+)
$856.00
870.00
946.00
919.00
789.00
1291.00
1859.00
1708.00
1329.00
2612.00
1911.00
964.00
311.00
219.00
1.09%-29.58%Income/Loss (Discontinued Operations) (+)
$9.00
40.00
-39.00
1.00
1.00
7.00
7.00
9.00
14.00
13.00
6.00
3.00
1.00
-9.50%Profit/Loss (+)
$865.00
910.00
907.00
920.00
790.00
1298.00
1866.00
1717.00
1343.00
2625.00
1917.00
967.00
312.00
219.00
1.02%-29.81%Net Income/Loss (NCI) (-)
$7.00
7.00
4.00
-1.00
2.00
Net Income/Loss (+)
$858.00
910.00
900.00
916.00
791.00
1296.00
1866.00
1717.00
1343.00
2625.00
1917.00
967.00
312.00
219.00
1.09%-29.81%Net Income/Loss (Common) (+)
$836.00
887.00
878.00
893.00
754.00
1226.00
1800.00
1620.00
1237.00
2519.00
1799.00
824.00
276.00
183.00
-0.13%-33.70%EPS (Basic)
$0.89
0.98
1.01
1.06
0.81
1.14
1.73
1.63
1.28
2.65
1.94
0.89
0.30
0.20
0.00%-33.33%EPS (Diluted)
$0.89
0.97
0.99
1.05
0.80
1.13
1.71
1.62
1.27
2.63
1.93
0.88
0.30
0.20
-0.10%-33.33%Weighted Avg Shares (Basic)
938.94
906.52
871.46
836.85
927.82
1072.08
1040.89
992.09
967.78
947.07
924.36
927.22
926.49
929.69
-0.11%0.35%Weighted Avg Shares (Diluted)
943.26
912.57
878.20
844.49
938.54
1088.59
1054.68
1002.25
974.81
957.41
933.06
932.76
933.80
937.01
-0.10%0.34%Cash
$585.00
617.00
653.00
607.00
677.00
671.00
678.00
732.00
1091.00
913.00
887.00
941.00
784.00
1247.00
4.42%59.06%Short-term Investments
$5004.00
6559.00
5029.00
3362.00
3513.00
5173.00
3228.00
1272.00
16194.00
11010.00
2432.00
10817.00
8410.00
13205.00
7.26%57.02%Securities & Long-term Investments
$64627.00
66566.00
70681.00
73937.00
105392.00
103667.00
119616.00
126261.00
99559.00
154335.00
167192.00
158102.00
169237.00
155160.00
8.47%-8.32%Property, Plant & Equipment (Net)
$1253.00
1190.00
1171.00
1119.00
1518.00
1751.00
1875.00
753.00
681.00
636.00
661.00
628.00
650.00
-5.65%3.50%Goodwill & Intangibles
$1150.00
1106.00
1158.00
1125.00
2830.00
2954.00
2832.00
2917.00
2852.00
2823.00
2846.00
2807.00
2837.00
2800.00
8.45%-1.30%Other Assets
$16617.00
16896.00
15129.00
14983.00
22523.00
23482.00
11384.00
13806.00
49887.00
16584.00
15820.00
14953.00
15623.00
14423.00
-0.95%-7.68%Assets (Total)
$89236.00
92934.00
93821.00
95133.00
136453.00
137698.00
139613.00
144988.00
170336.00
186346.00
189813.00
188281.00
197519.00
187485.00
7.02%-5.08%Deposits
$65993.00
69262.00
71998.00
71046.00
104087.00
105235.00
107309.00
111870.00
135282.00
152572.00
142595.00
145587.00
144148.00
144231.00
7.46%0.06%Debt (Current)
$287.00
343.00
423.00
533.00
808.00
634.00
544.00
705.00
759.00
588.00
5386.00
3053.00
10061.00
2896.00
23.98%-71.22%Securities (Liabilities)
$2193.00
1948.00
1359.00
1004.00
2138.00
668.00
319.00
387.00
220.00
173.00
4077.00
38.00
1374.00
27.00
-30.84%-98.03%Debt (Non-current)
$7134.00
7993.00
7875.00
10186.00
12384.00
14333.00
13732.00
12448.00
13709.00
12042.00
19307.00
19554.00
22753.00
20776.00
9.60%-8.69%Other Liabilities
$3320.00
3068.00
1624.00
1605.00
1796.00
1803.00
2113.00
2540.00
2385.00
3548.00
4994.00
5412.00
4861.00
5008.00
4.54%3.02%Liabilities (Total)
$78927.00
82614.00
83279.00
84374.00
121213.00
122673.00
124017.00
127950.00
152355.00
168923.00
176359.00
173644.00
183197.00
172938.00
7.43%-5.60%Treasury Stock
$1952.00
2281.00
2681.00
3000.00
2904.00
3150.00
4181.00
4909.00
4946.00
5979.00
5910.00
5844.00
5868.00
5722.00
10.48%-2.49%Retained Earnings
$6913.00
7606.00
8273.00
8922.00
9378.00
10335.00
11556.00
12469.00
12751.00
14553.00
15616.00
15672.00
15700.00
15662.00
7.72%-0.24%AOCI
$-124.00
-352.00
-356.00
-405.00
-541.00
-779.00
-818.00
26.00
738.00
-586.00
-6295.00
-5229.00
-5474.00
-5314.00
2.92%Shareholder's Equity
$10309.00
10320.00
10542.00
10759.00
15240.00
15025.00
15596.00
17038.00
17981.00
17423.00
13454.00
14637.00
14322.00
14547.00
3.24%1.57%Liabilities & Equity
$89236.00
92934.00
93821.00
95133.00
136453.00
137698.00
139613.00
144988.00
170336.00
186346.00
189813.00
188281.00
197519.00
187485.00
7.02%-5.08%Net Income/Loss
$865.00
910.00
907.00
920.00
790.00
1298.00
1866.00
1717.00
1343.00
2625.00
1917.00
967.00
312.00
219.00
1.02%-29.81%Depreciation & Amortization
$240.00
193.00
227.00
247.00
314.00
407.00
382.00
241.00
111.00
32.00
137.00
134.00
36.00
24.00
-5.16%-33.33%Increase/Decrease in Working Capital
$-26.00
-5844.00
-5782.00
-7068.00
-8699.00
-11703.00
-14118.00
-12402.00
-13297.00
-15679.00
-12723.00
-9831.00
-2001.00
-1790.00
10.54%Share-based Compensation
$
35.00
44.00
58.00
99.00
100.00
99.00
96.00
101.00
104.00
120.00
121.00
34.00
26.00
-23.53%Adjustments to Reconcile Net Income
$490.00
669.00
413.00
211.00
899.00
517.00
640.00
1189.00
330.00
-1472.00
2552.00
1936.00
406.00
140.00
13.30%-65.52%Net Cash (Operating)
$1355.00
1579.00
1320.00
1131.00
1689.00
1815.00
2506.00
2906.00
1673.00
1153.00
4469.00
2903.00
718.00
359.00
7.17%-50.00%Capital Expenditure
$-625.00
-509.00
210.00
74.00
626.00
256.00
-27.00
252.00
63.00
91.00
138.00
137.00
23.00
11.00
-52.17%Net Cash (Investing)
$-242.00
-4224.00
-2816.00
-2023.00
-6457.00
-2239.00
-2482.00
-4918.00
-24721.00
-15068.00
-10934.00
1417.00
-7336.00
374.00
105.10%Increase/Decrease in Debt
$-782.00
3343.00
2229.00
1539.00
4272.00
1953.00
1352.00
3285.00
24398.00
15709.00
6741.00
-3192.00
6814.00
-175.00
-102.57%Increase/Decrease in Equity
$-251.00
-474.00
-457.00
-426.00
901.00
-705.00
-713.00
-415.00
-162.00
-1149.00
552.00
-33.00
-33.00
-23.00
30.30%Interest Expenses
$464.00
293.00
281.00
329.00
429.00
598.00
892.00
1251.00
731.00
363.00
601.00
3109.00
426.00
990.00
18.88%132.39%Dividends Paid
$191.00
217.00
240.00
267.00
335.00
480.00
656.00
804.00
829.00
823.00
854.00
911.00
228.00
229.00
15.26%0.44%Net Cash (Financing)
$-1222.00
2678.00
1532.00
846.00
4838.00
418.00
-17.00
2066.00
23407.00
13737.00
6439.00
-4266.00
6515.00
-427.00
-106.55%Cash Taxes Paid
$84.00
185.00
131.00
281.00
144.00
6.00
12.00
18.00
241.00
277.00
292.00
156.00
46.00
20.00
5.79%-56.52%Increase/Decrease in Cash
$-109.00
33.00
36.00
-46.00
70.00
-6.00
7.00
54.00
359.00
-178.00
-26.00
54.00
-103.00
306.00
397.09%Cash (Beginning)
$694.00
584.00
617.00
653.00
607.00
677.00
671.00
678.00
732.00
1091.00
913.00
887.00
887.00
941.00
2.26%6.09%Cash (Ending)
$585.00
617.00
653.00
607.00
677.00
671.00
678.00
732.00
1091.00
913.00
887.00
941.00
784.00
1247.00
4.42%59.06%NOPAT
$-820.80
-516.96
-472.73
-506.69
-938.92
-548.29
-310.30
-433.11
-926.25
54.89
-336.81
-1133.83
-190.65
-342.45
-79.62%Operating Margin %
-43.69%
-28.11%
-23.59%
-30.16%
-41.58%
-15.50%
-8.52%
-12.62%
-36.38%
1.34%
-9.57%
-38.26%
-22.50%
-47.67%
NOPAT Margin %
-40.33%
-23.55%
-21.16%
-23.22%
-35.39%
-15.45%
-8.47%
-12.50%
-30.74%
1.22%
-8.37%
-33.11%
-19.86%
-44.24%
Net Margin %
42.16%
41.46%
40.29%
41.98%
29.82%
36.53%
50.94%
49.57%
44.57%
58.48%
47.63%
28.24%
32.50%
28.29%
Tax Rate %
7.67%
16.21%
10.30%
23.00%
14.88%
0.31%
0.54%
0.89%
15.49%
8.51%
12.52%
13.45%
11.73%
7.19%
ROA
-0.92%
-0.56%
-0.50%
-0.53%
-0.69%
-0.40%
-0.22%
-0.30%
-0.54%
0.03%
-0.18%
-0.60%
-0.10%
-0.18%
ROE
-7.96%
-5.01%
-4.48%
-4.71%
-6.16%
-3.65%
-1.99%
-2.54%
-5.15%
0.32%
-2.50%
-7.75%
-1.33%
-2.35%
Equity Multiplier
8.66
9.01
8.90
8.84
8.95
9.16
8.95
8.51
9.47
10.70
14.11
12.86
13.79
12.89
Debt/Equity Ratio
7.12
7.52
7.62
7.60
7.70
8.00
7.80
7.34
8.33
9.48
12.43
11.49
12.36
11.54
Dividend Payout Ratio %
23.27%
41.98%
50.77%
52.69%
35.68%
87.55%
211.41%
185.63%
89.50%
1499.30%
253.55%
80.35%
119.59%
66.87%
Total Payout
$442.00
691.00
697.00
693.00
-566.00
1185.00
1369.00
1219.00
991.00
1972.00
302.00
944.00
261.00
252.00
7.14%-3.45%Payout Ratio %
53.85%
133.67%
147.44%
136.77%
-60.28%
216.13%
441.19%
281.45%
106.99%
3592.48%
89.66%
83.26%
136.90%
73.59%