EX-12 2 key-033118xexx12.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,
 
2018
2017
 
2017
2016
2015
2014
2013
Computation of Earnings
 
 
 
 
 
 
 
 
Net income (loss) attributable to Key
$
418

$
324

 
$
1,296

$
791

$
916

$
900

$
910

Add: Provision for income taxes
62

94

 
637

179

303

326

271

Less: Income (loss) from discontinued operations, net of taxes
2

—

 
7

1

1

(39
)
40

Income (loss) before income taxes and cumulative effect of accounting change
478

418

 
1,926

969

1,218

1,265

1,141

Fixed charges, excluding interest on deposits
108

79

 
362

246

185

160

154

Total earnings for computation, excluding interest on deposits
586

497

 
2,288

1,215

1,403

1,425

1,295

Interest on deposits
91

58

 
278

171

105

117

158

Total earnings for computation, including interest on deposits
$
677

$
555

 
$
2,566

$
1,386

$
1,508

$
1,542

$
1,453

Computation of Fixed Charges
 
 
 
 
 
 
 
 
Net rental expense
$
34

$
34

 
$
144

$
110

$
104

$
104

$
111

Portion of net rental expense deemed representative of interest
$
6

$
5

 
$
27

$
17

$
16

$
16

$
17

Interest on short-term borrowed funds
10

6

 
16

11

9

11

10

Interest on long-term debt
92

68

 
319

218

160

133

127

Total fixed charges, excluding interest on deposits
108

79

 
362

246

185

160

154

Interest on deposits
91

58

 
278

171

105

117

158

Total fixed charges, including interest on deposits
$
199

$
137

 
$
640

$
417

$
290

$
277

$
312

Combined Fixed Charges and Preferred Stock Dividends
 
 
 
 
 
 
 
 
Preferred stock dividend requirement on a pre-tax basis
$
14

$
28

 
$
70

$
37

$
23

$
22

$
23

Total fixed charges, excluding interest on deposits
108

79

 
362

246

185

160

154

Combined fixed charges and preferred stock dividends, excluding interest on deposits
122

107

 
432

283

208

182

177

Interest on deposits
91

58

 
278

171

105

117

158

Combined fixed charges and preferred stock dividends, including interest on deposits
$
213

$
165

 
$
710

$
454

$
313

$
299

$
335

Ratio of Earnings to Fixed Charges
 
 
 
 
 
 
 
 
Excluding deposit interest
5.43

6.29

 
6.32

4.94

7.58

8.91

8.41

Including deposit interest
3.40

4.05

 
4.01

3.32

5.20

5.57

4.66

Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends
 
 
 
 
 
 
 
 
Excluding deposit interest
4.80

4.64

 
5.30

4.29

6.75

7.83

7.32

Including deposit interest
3.18

3.36

 
3.61

3.05

4.82

5.16

4.34