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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
INTEREST INCOME    
Loans $ 1,476 $ 837
Loans held for sale 13 12
Securities available for sale 194 173
Held-to-maturity securities 74 46
Trading account assets 12 6
Short-term investments 42 4
Other investments 13 2
Total interest income 1,824 1,080
INTEREST EXPENSE    
Deposits 350 14
Federal funds purchased and securities sold under repurchase agreements 22 0
Bank notes and other short-term borrowings 78 3
Long-term debt 275 49
Total interest expense 725 66
NET INTEREST INCOME 1,099 1,014
Provision for credit losses 139 83
Net interest income after provision for credit losses 960 931
NONINTEREST INCOME    
Trust and investment services income 128 136
Investment banking and debt placement fees 145 163
Cards and payments income 81 80
Service charges on deposit accounts 67 91
Corporate services income 76 91
Commercial mortgage servicing fees 46 36
Corporate-owned life insurance income 29 31
Consumer mortgage income 11 21
Operating lease income and other leasing gains 25 32
Other income 0 (5)
Total noninterest income 608 676
NONINTEREST EXPENSE    
Personnel 701 630
Net occupancy 70 73
Computer processing 92 77
Business services and professional fees 45 53
Equipment 22 23
Operating lease expense 20 28
Marketing 21 28
Other expense 205 158
Total noninterest expense 1,176 1,070
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 392 537
Income taxes 81 90
INCOME (LOSS) FROM CONTINUING OPERATIONS 311 447
Income (loss) from discontinued operations 1 1
NET INCOME (LOSS) 312 448
Less: Net income (loss) attributable to noncontrolling interests 0 0
NET INCOME (LOSS) ATTRIBUTABLE TO KEY 312 448
Income (loss) from continuing operations attributable to Key common shareholders 275 420
Net income (loss) attributable to Key common shareholders $ 276 $ 421
Per Common Share:    
Income (loss) from continuing operations attributable to Key common shareholders (in usd per share) $ 0.30 $ 0.45
Income (loss) from discontinued operations, net of taxes (in usd per share) 0 0
Net income (loss) attributable to Key common shareholders (in usd per share) [1] 0.30 0.46
Per Common Share — assuming dilution:    
Income (loss) from continuing operations attributable to Key common shareholders (in usd per share) 0.30 0.45
Income (loss) from discontinued operations, net of taxes (in usd per share) 0 0
Net income (loss) attributable to Key common shareholders (in usd per share) [1] $ 0.30 $ 0.45
Weighted-average Common Shares outstanding (in shares) 926,490 922,941
Effect of Common Share options and other stock awards (in shares) 7,314 10,692
Weighted-average Common Shares and potential Common Shares outstanding (in shares) [2] 933,804 933,634
[1] EPS may not foot due to rounding.
[2] Assumes conversion of Common Share options and other stock awards and/or convertible preferred stock, as applicable.