EX-12 2 key-033117xexx12.htm EXHIBIT 12 Exhibit


EXHIBIT 12
KEYCORP
COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS TO
COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
(dollars in millions)
(unaudited)
 
Three months ended March 31,
 
Year ended December 31,
 
2017
2016
 
2016
2015
2014
2013
2012
Computation of Earnings
 
 
 
 
 
 
 
 
Net income (loss) attributable to Key
$
324

$
188

 
$
791

$
916

$
900

$
910

$
858

Add: Provision for income taxes
94

56

 
179

303

326

271

231

Less: Income (loss) from discontinued operations, net of taxes
—

1

 
1

1

(39
)
40

23

Income (loss) before income taxes and cumulative effect of accounting change
418

243

 
969

1,218

1,265

1,141

1,066

Fixed charges, excluding interest on deposits
79

52

 
246

185

160

154

200

Total earnings for computation, excluding interest on deposits
497

295

 
1,215

1,403

1,425

1,295

1,266

Interest on deposits
58

31

 
171

105

117

158

257

Total earnings for computation, including interest on deposits
$
555

$
326

 
$
1,386

$
1,508

$
1,542

$
1,453

$
1,523

Computation of Fixed Charges
 
 
 
 
 
 
 
 
Net rental expense
$
34

$
26

 
$
110

$
104

$
104

$
111

$
109

Portion of net rental expense deemed representative of interest
$
5

$
4

 
$
17

$
16

$
16

$
17

$
16

Interest on short-term borrowed funds
6

2

 
11

9

11

10

11

Interest on long-term debt
68

46

 
218

160

133

127

173

Total fixed charges, excluding interest on deposits
79

52

 
246

185

160

154

200

Interest on deposits
58

31

 
171

105

117

158

257

Total fixed charges, including interest on deposits
$
137

$
83

 
$
417

$
290

$
277

$
312

$
457

Combined Fixed Charges and Preferred Stock Dividends
 
 
 
 
 
 
 
 
Preferred stock dividend requirement on a pre-tax basis
$
28

$
5

 
$
37

$
23

$
22

$
23

$
22

Total fixed charges, excluding interest on deposits
79

52

 
246

185

160

154

200

Combined fixed charges and preferred stock dividends, excluding interest on deposits
107

57

 
283

208

182

177

222

Interest on deposits
58

31

 
171

105

117

158

257

Combined fixed charges and preferred stock dividends, including interest on deposits
$
165

$
88

 
$
454

$
313

$
299

$
335

$
479

Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
Excluding deposit interest
6.29

5.67

 
4.94

7.58

8.91

8.41

6.33

Including deposit interest
4.05

3.93

 
3.32

5.20

5.57

4.66

3.33

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
 
 
 
 
 
 
 
 
Excluding deposit interest
4.64

5.18

 
4.29

6.75

7.83

7.32

5.70

Including deposit interest
3.36

3.70

 
3.05

4.82

5.16

4.34

3.18