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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
INTEREST INCOME        
Loans $ 1,000 $ 948 $ 1,940 $ 1,825
Loans held for sale 16 9 28 22
Securities available for sale 97 90 192 185
Held-to-maturity securities 72 55 141 106
Trading account assets 7 7 14 14
Short-term investments 8 5 16 8
Other investments 5 3 11 7
Total interest income 1,205 1,117 2,342 2,167
INTEREST EXPENSE        
Deposits 112 66 203 124
Federal funds purchased and securities sold under repurchase agreements 5 0 9 1
Bank notes and other short-term borrowings 7 4 13 9
Long-term debt 102 74 194 142
Total interest expense 226 144 419 276
NET INTEREST INCOME 979 973 1,923 1,891
Provision for credit losses 64 66 125 129
Net interest income after provision for credit losses 915 907 1,798 1,762
NONINTEREST INCOME        
Trust and investment services income 128 134 261 269
Investment banking and debt placement fees 155 135 298 262
Service charges on deposit accounts 91 90 180 177
Operating lease income and other leasing gains (6) 30 26 53
Corporate services income 61 55 123 109
Cards and payments income 71 70 133 135
Corporate-owned life insurance income 32 33 64 63
Consumer mortgage income 7 6 14 12
Mortgage servicing fees 22 15 42 33
Other income [1] 99 85 120 117
Total noninterest income 660 653 1,261 1,230
NONINTEREST EXPENSE        
Personnel 586 553 1,180 1,110
Net occupancy 79 78 157 165
Computer processing 51 55 103 115
Business services and professional fees 51 45 92 91
Equipment 26 27 52 54
Operating lease expense 30 21 57 40
Marketing 26 30 51 51
FDIC assessment 21 21 42 41
Intangible asset amortization 25 22 54 44
OREO expense, net 0 3 2 5
Other expense 98 140 209 292
Total noninterest expense 993 995 1,999 2,008
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 582 565 1,060 984
Income taxes 103 158 165 252
INCOME (LOSS) FROM CONTINUING OPERATIONS 479 407 895 732
Income (loss) from discontinued operations 3 5 5 5
NET INCOME (LOSS) 482 412 900 737
Less: Net income (loss) attributable to noncontrolling interests 0 0 0 1
NET INCOME (LOSS) ATTRIBUTABLE TO KEY 482 412 900 736
Income (loss) from continuing operations attributable to Key common shareholders 464 393 866 689
Net income (loss) attributable to Key common shareholders $ 467 $ 398 $ 871 $ 694
Per Common Share:        
Income (loss) from continuing operations attributable to Key common shareholders (in usd per share) $ 0.44 $ 0.36 $ 0.82 $ 0.64
Income (loss) from discontinued operations, net of taxes (in usd per share) 0 0 0 0
Net income (loss) attributable to Key common shareholders (in usd per share) [2] 0.44 0.37 0.82 0.64
Per Common Share — assuming dilution:        
Income (loss) from continuing operations attributable to Key common shareholders (in usd per share) 0.44 0.36 0.81 0.63
Income (loss) from discontinued operations, net of taxes (in usd per share) 0 0 0 0
Net income (loss) attributable to Key common shareholders (in usd per share) [2] 0.44 0.36 0.81 0.63
Cash dividends declared per common share (in usd per share) $ 0.12 $ 0.095 $ 0.225 $ 0.180
Weighted-average common shares outstanding (in shares) 1,052,652 1,076,203 1,054,378 1,083,486
Effect of common share options and other stock awards (in shares) 13,141 16,836 14,561 15,808
Weighted-average common shares and potential common shares outstanding (in shares) [3] 1,065,793 1,093,039 1,068,939 1,099,294
[1] For the three months ended June 30, 2018, net securities gains totaled less than $1 million. For the three months ended June 30, 2017, net securities gains totaled $1 million. For the three months ended June 30, 2018, and June 30, 2017, we did not have any impairment losses related to securities.
[2] EPS may not foot due to rounding.
[3] Assumes conversion of Common Share options and other stock awards and/or convertible preferred stock, as applicable.