Business Segment Reporting (Tables)

9 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

Schedule of Selected Financial Data for Our Business Segments

The table below shows selected financial data for our business segments for the three- and nine-month periods ended September 30, 2023, and September 30, 2022. Capital is assigned to each business segment based on a combination of regulatory and economic equity.

Three months ended September 30,	Consumer Bank						Commercial Bank						Other						Total Key
Dollars in millions	2023			2022			2023			2022			2023			2022			2023			2022
SUMMARY OF OPERATIONS
Net interest income (TE)	$	548		$	618		$	430		$	484		$	(55)		$	101		$	923		$	1,203
Noninterest income	243			259			360			394			40			30			643			683
Total revenue (TE) (a)	791			877			790			878			(15)			131			1,566			1,886
Provision for credit losses	14			37			68			74			(1)			(2)			81			109
Depreciation and amortization expense	21			22			21			28			13			18			55			68
Other noninterest expense	656			653			410			423			(11)			(38)			1,055			1,038
Income (loss) from continuing operations before income taxes (TE)	100			165			291			353			(16)			153			375			671
Allocated income taxes and TE adjustments	24			40			65			66			(16)			25			73			131
Income (loss) from continuing operations	76			125			226			287			—			128			302			540
Income (loss) from discontinued operations, net of taxes	—			—			—			—			1			2			1			2
Net income (loss)	76			125			226			287			1			130			303			542
Less: Net income (loss) attributable to noncontrolling interests	—			—			—			—			—			—			—			—
Net income (loss) attributable to Key	$	76		$	125		$	226		$	287		$	1		$	130		$	303		$	542
AVERAGE BALANCES (b)
Loans and leases	$	42,250		$	42,568		$	74,951		$	71,464		$	426		$	386		$	117,627		$	114,418
Total assets (a)	45,078			45,659			85,274			81,899			61,989			60,634			192,341			188,192
Deposits	83,863			90,170			54,896			52,272			6,066			1,787			144,825			144,229
OTHER FINANCIAL DATA
Net loan charge-offs (b)	$	36		$	17		$	35		$	27		$	—		$	(1)		$	71		$	43
Return on average allocated equity (b)	8.48		%	14.26		%	8.64		%	12.29		%	(3.97)		%	27.13		%	8.69		%	14.66		%
Return on average allocated equity	8.48			14.26			8.64			12.29			(7.93)			27.55			8.72			14.71
Average full-time equivalent employees (c)	7,684			8,182			2,531			2,535			7,451			7,190			17,666			17,907

(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.

Nine months ended September 30,	Consumer Bank						Commercial Bank						Other							Total Key
Dollars in millions	2023			2022			2023			2022			2023				2022			2023			2022
SUMMARY OF OPERATIONS
Net interest income (TE)	$	1,718		$	1,775		$	1,367		$	1,377		$	(70)			$	175		$	3,015		$	3,327
Noninterest income	716			769			1,072			1,192			72				86			1,860			2,047
Total revenue (TE) (a)	2,434			2,544			2,439			2,569			2				261			4,875			5,374
Provision for credit losses	106			88			283			152			(2)				(3)			387			237
Depreciation and amortization expense	63			65			67			89			46				53			176			207
Other noninterest expense	1,940			1,960			1,210			1,186			36				(99)			3,186			3,047
Income (loss) from continuing operations before income taxes (TE)	325			431			879			1,142			(78)				310			1,126			1,883
Allocated income taxes and TE adjustments	78			104			184			224			(35)				38			227			366
Income (loss) from continuing operations	247			327			695			918			(43)				272			899			1,517
Income (loss) from discontinued operations, net of taxes	—			—			—			—			3				6			3			6
Net income (loss)	247			327			695			918			(40)				278			902			1,523
Less: Net income (loss) attributable to noncontrolling interests	—			—			—			—			—				—			—			—
Net income (loss) attributable to Key	$	247		$	327		$	695		$	918		$	(40)		(d)	$	278		$	902		$	1,523
AVERAGE BALANCES (b)
Loans and leases	$	42,754		$	40,697		$	76,173		$	68,016		$	444			$	431		$	119,371		$	109,144
Total assets (a)	45,588			43,801			86,075			78,536			61,560				62,452			193,223			184,789
Deposits	83,663			91,063			52,855			54,768			7,198				1,435			143,716			147,266
OTHER FINANCIAL DATA
Net loan charge-offs (b)	$	93		$	62		$	76		$	59		(1)				(1)			$	168		$	120
Return on average allocated equity (b)	9.13		%	12.20		%	8.94		%	13.70		%	(623.93)		%		13.40		%	8.58		%	13.29		%
Return on average allocated equity	9.13			12.20			8.94			13.70			(579.37)				13.70			8.61			13.35
Average full-time equivalent employees (c)	7,868			8,069			2,512			2,453			7,500				6,955			17,880			17,477

(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.