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Consolidated Statements of Income (Unaudited) (USD $)
In Millions, except Share data in Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
INTEREST INCOME        
Loans $ 551 $ 677 $ 1,121 $ 1,387
Loans held for sale 3 5 7 9
Securities available for sale 149 154 315 304
Held-to-maturity securities 1   1 1
Trading account assets 9 10 16 21
Short-term investments 1 2 2 4
Other investments 12 13 24 27
Total interest income 726 861 1,486 1,753
INTEREST EXPENSE        
Deposits 100 188 210 400
Federal funds purchased and securities sold under repurchase agreements 2 2 3 3
Bank notes and other short-term borrowings 3 4 6 7
Long-term debt 57 50 106 101
Total interest expense 162 244 325 511
NET INTEREST INCOME 564 617 1,161 1,242
Provision (credit) for loan and lease losses (8) 228 (48) 641
Net interest income (expense) after provision for loan and lease losses 572 389 1,209 601
NONINTEREST INCOME        
Trust and investment services income 113 112 223 226
Service charges on deposit accounts 69 80 137 156
Operating lease income 32 43 67 90
Letter of credit and loan fees 47 42 102 82
Corporate-owned life insurance income 28 28 55 56
Net securities gains (losses) (a) 2 [1] (2) [1] 1 1
Electronic banking fees 33 29 63 56
Gains on leased equipment 5 2 9 10
Insurance income 14 19 29 37
Net gains (losses) from loan sales 11 25 30 29
Net gains (losses) from principal investing 17 17 52 54
Investment banking and capital markets income (loss) 42 31 85 40
Other income 41 66 58 105
Total noninterest income 454 492 911 942
NONINTEREST EXPENSE        
Personnel 380 385 751 747
Net occupancy 62 64 127 130
Operating lease expense 25 35 53 74
Computer processing 42 47 84 94
Business services and professional fees 44 41 82 79
FDIC assessment 9 33 38 70
OREO expense, net (3) 22 7 54
Equipment 26 26 52 50
Marketing 10 16 20 29
Provision (credit) for losses on lending-related commitments (12) (10) (16) (12)
Other expense 97 110 183 239
Total noninterest expense 680 769 1,381 1,554
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES 346 112 739 (11)
Income taxes 94 11 205 (71)
INCOME (LOSS) FROM CONTINUING OPERATIONS 252 101 534 60
Income (loss) from discontinued operations, net of taxes of ($6), ($17), ($12) and ($15) (see Note 11) (9) (27) (20) (25)
NET INCOME (LOSS) 243 74 514 35
Less: Net income (loss) attributable to noncontrolling interests 3 4 11 20
NET INCOME (LOSS) ATTRIBUTABLE TO KEY 240 70 503 15
Income (loss) from continuing operations attributable to Key common shareholders 243 56 427 (42)
Net income (loss) attributable to Key common shareholders $ 234 $ 29 $ 407 $ (67)
Per common share:        
Income (loss) from continuing operations attributable to Key common shareholders $ 0.26 $ 0.06 $ 0.47 $ (0.05)
Income (loss) from discontinued operations, net of taxes $ (0.01) $ (0.03) $ (0.02) $ (0.03)
Net income (loss) attributable to Key common shareholders $ 0.25 $ 0.03 $ 0.44 $ (0.08)
Per common share - assuming dilution:        
Income (loss) from continuing operations attributable to Key common shareholders $ 0.26 $ 0.06 $ 0.46 $ (0.05)
Income (loss) from discontinued operations, net of taxes $ (0.01) $ (0.03) $ (0.02) $ (0.03)
Net income (loss) attributable to Key common shareholders $ 0.25 $ 0.03 $ 0.44 $ (0.08)
Cash dividends declared per common share $ 0.03 $ 0.01 $ 0.04 $ 0.02
Weighted-average common shares outstanding (000) (b) 947,565 [2] 874,664 [2] 914,911 874,526
Weighted-average common shares and potential common shares outstanding (000) 952,133 874,664 920,162 874,526
[1] For the three months ended Jun 30, 2011, we did not have impairment losses related to securities. For the three months ended June 30, 2010, we had $4 million in impairment losses related to securities, which were recognized in earnings
[2] Assumes conversion of stock options and/or Preferred Series A, as applicable.