Earnings Per Common Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Common Share

Our basic and diluted earnings per Common Share are calculated as follows:

	Three months ended September 30,				Nine months ended September 30,
Dollars in millions, except per share amounts	2024		2023		2024		2023
EARNINGS
Income (loss) from continuing operations	$	(411)	$	302	$	81	$	899
Less: Dividends on Preferred Stock	36		36		108		108
Income (loss) from continuing operations attributable to Key common shareholders	(447)		266		(27)		791
Income (loss) from discontinued operations, net of taxes	1		1		2		3
Net income (loss) attributable to Key common shareholders	$	(446)	$	267	$	(25)	$	794
WEIGHTED-AVERAGE COMMON SHARES
Weighted-average Common Shares outstanding (000)	948,979		927,131		936,962		927,019
Effect of Common Share options and other stock awards(a)	—		4,613		—		5,213
Weighted-average Common Shares and potential Common Shares outstanding (000)(b)	948,979		931,744		936,962		932,232
EARNINGS PER COMMON SHARE
Income (loss) from continuing operations attributable to Key common shareholders	$	(.47)	$	.29	$	(.03)	$	.85
Income (loss) from discontinued operations, net of taxes	—		—		—		—
Net income (loss) attributable to Key common shareholders (c)	(.47)		.29		(.03)		.86
Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution	$	(.47)	$	.29	$	(.03)	$	.85
Income (loss) from discontinued operations, net of taxes — assuming dilution	—		—		—		—
Net income (loss) attributable to Key common shareholders—assuming dilution(c)	(.47)		.29		(.03)		.85

(a)For periods ended in a loss from continuing operations attributable to Key common shareholders, anti-dilutive instruments have been excluded from the calculation of diluted earnings per share.

(b)Assumes conversion of Common Share options and other stock awards and/or convertible preferred stock, as applicable.

(c)EPS may not foot due to rounding.