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Business Segment Reporting
 3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Business Segment Reporting
20. Business Segment Reporting

Consumer Bank

The Consumer Bank serves individuals and small businesses throughout our 15-state branch footprint and through our Laurel Road digital brand by offering 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. In addition, wealth management and investment services are offered to assist non-profit, and high-net-worth clients with their banking, trust, portfolio management, life insurance, charitable giving, and related needs.

Commercial Bank

The Commercial Bank is an aggregation of our Institutional and Commercial operating segments. The Commercial operating segment is a full-service corporate bank focused principally on serving the needs of middle market clients in seven industry sectors: consumer, energy, healthcare, industrial, public sector, real estate, and technology. The Commercial operating segment is also a significant servicer of commercial mortgage loans and a significant special servicer of CMBS. The Institutional operating segment delivers a broad suite of banking and capital markets products to its clients, including syndicated finance, debt and equity capital markets, commercial payments, equipment finance, commercial mortgage banking, derivatives, foreign exchange, financial advisory, and public finance.

Other

Other includes various corporate treasury activities such as management of our investment securities portfolio, long-term debt, short-term liquidity and funding activities, and balance sheet risk management, our principal investing unit, and various exit portfolios as well as reconciling items which primarily represents the unallocated portion of nonearning assets of corporate support functions. Charges related to the funding of these assets are part of net interest income and are allocated to the business segments through noninterest expense. Reconciling items also include intercompany eliminations and certain items that are not allocated to the business segments because they do not reflect their normal operations.

The development and application of the methodologies that we use to allocate items among our business segments is a dynamic process. Accordingly, financial results may be revised periodically to reflect enhanced alignment of expense base allocations drivers, changes in the risk profile of a particular business, or changes in our organizational structure.
The table below shows selected financial data for our business segments for the three-month periods ended March 31, 2021, and March 31, 2020. Capital is assigned to each business segment based on a combination of regulatory and economic equity.
Three months ended March 31,Consumer BankCommercial BankOtherTotal Key
dollars in millions20212020202120202021202020212020
SUMMARY OF OPERATIONS
Net interest income (TE)$607 $581 $411 $421 $(6)$(13)$1,012 $989 
Noninterest income257 229 447 220 34 28 738 477 
Total revenue (TE) (a)
864 810 858 641 28 15 1,750 1,466 
Provision for credit losses(23)136 (67)222 (3)1 (93)359 
Depreciation and amortization expense18 21 34 36 38 35 90 92 
Other noninterest expense583 518 409 326 (11)(5)981 839 
Income (loss) from continuing operations before income taxes (TE)
286 135 482 57 4 (16)772 176 
Allocated income taxes and TE adjustments
69 32 99 (9)(14)8 154 31 
Income (loss) from continuing operations217 103 383 66 18 (24)618 145 
Income (loss) from discontinued operations, net of taxes
— — — — 4 1 4 1 
Net income (loss)217 103 383 66 22 (23)622 146 
Less: Net income (loss) attributable to noncontrolling interests
— — — — — — — — 
Net income (loss) attributable to Key$217 $103 $383 $66 $22 $(23)$622 $146 
AVERAGE BALANCES (b)
Loans and leases$39,249 $33,175 $60,885 $62,104 $594 $895 $100,728 $96,174 
Total assets (a)
42,476 36,415 70,114 71,410 59,643 38,403 172,233 146,228 
Deposits85,033 73,133 51,894 36,443 813 752 137,740 110,328 
OTHER FINANCIAL DATA
Net loan charge-offs (b)
$36 $43 $78 $40 $— $1 $114 $84 
Return on average allocated equity (b)
25.76 %12.30 %17.47 %5.57 %1.34 %(1.06)%14.11 %3.39 %
Return on average allocated equity25.76 12.30 17.47 5.57 1.63 (1.02)14.20 3.41 
Average full-time equivalent employees (c)
8,284 8,144 2,066 2,091 6,736 6,294 17,086 16,529 
(a)Substantially all revenue generated by our major business segments is derived from clients that reside in the United States. Substantially all long-lived assets, including premises and equipment, capitalized software, and goodwill held by our major business segments, are located in the United States.
(b)From continuing operations.
(c)The number of average full-time equivalent employees was not adjusted for discontinued operations.