XML 89 R36.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

Condensed Financial Information of the Parent Company | 12 Months Ended
--- | ---
Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Information of the Parent Company | 26. Condensed Financial Information of the Parent Company CONDENSED BALANCE SHEETS
December 31, in millions | 2019 | 2018
ASSETS |  |
Cash and due from banks | $ | 3,813 |  | $ | 3,241 |
Short-term investments | 20 |  | 19 |
Securities available for sale | 10 |  | 10 |
Other investments | 36 |  | 31 |
Loans to: |  |
Banks | 50 |  | 50 |
Nonbank subsidiaries | 16 |  | 31 |
Total loans | 66 |  | 81 |
Investment in subsidiaries: |  |
Banks | 16,969 |  | 15,554 |
Nonbank subsidiaries | 823 |  | 833 |
Total investment in subsidiaries | 17,792 |  | 16,387 |
Goodwill | 167 |  | 167 |
Corporate-owned life insurance | 205 |  | 199 |
Derivative assets | 44 |  | 61 |
Accrued income and other assets | 295 |  | 279 |
Total assets | $ | 22,448 |  | $ | 20,475 |
LIABILITIES |  |
Accrued expense and other liabilities | $ | 492 |  | $ | 480 |
Long-term debt due to: |  |
Subsidiaries | 483 |  | 471 |
Unaffiliated companies | 4,435 |  | 3,929 |
Total long-term debt | 4,918 |  | 4,400 |
Total liabilities | 5,410 |  | 4,880 |
SHAREHOLDERS’ EQUITY (a) | 17,038 |  | 15,595 |
Total liabilities and shareholders’ equity | $ | 22,448 |  | $ | 20,475 |
(a) | See Key’s Consolidated Statements of Changes in Equity.
CONDENSED STATEMENTS OF INCOME
Year ended December 31, |  |  |
in millions | 2019 | 2018 | 2017
INCOME |  |  |
Dividends from subsidiaries: |  |  |
Bank subsidiaries | $ | 1,204 |  | $ | 1,675 |  | $ | 750 |
Nonbank subsidiaries | 70 |  | — |  | — |
Interest income from subsidiaries | 9 |  | 11 |  | 10 |
Other income | 11 |  | 11 |  | 9 |
Total income | 1,294 |  | 1,697 |  | 769 |
EXPENSE |  |  |
Interest on long-term debt with subsidiary trusts | 22 |  | 20 |  | 17 |
Interest on other borrowed funds | 151 |  | 137 |  | 95 |
Personnel and other expense | 87 |  | 69 |  | 46 |
Total expense | 260 |  | 226 |  | 158 |
Income (loss) before income taxes and equity in net income (loss) less dividends from subsidiaries | 1,034 |  | 1,471 |  | 611 |
Income tax (expense) benefit | 57 |  | 55 |  | 29 |
Income (loss) before equity in net income (loss) less dividends from subsidiaries | 1,091 |  | 1,526 |  | 640 |
Equity in net income (loss) less dividends from subsidiaries | 626 |  | 340 |  | 658 |
NET INCOME (LOSS) | 1,717 |  | 1,866 |  | 1,298 |
Less: Net income attributable to noncontrolling interests | — |  | — |  | 2 |
NET INCOME (LOSS) ATTRIBUTABLE TO KEY | $ | 1,717 |  | $ | 1,866 |  | $ | 1,296 |
. CONDENSED STATEMENTS OF CASH FLOWS
Year ended December 31, |  |  |
in millions | 2019 | 2018 | 2017
OPERATING ACTIVITIES |  |  |
Net income (loss) attributable to Key | $ | 1,717 |  | $ | 1,866 |  | $ | 1,296 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |
Deferred income taxes (benefit) | (43 | ) | 109 |  | 38 |
Stock-based compensation expense | 8 |  | 8 |  | 11 |
Equity in net (income) loss less dividends from subsidiaries | (626 | ) | (340 | ) | (658 | )
Net (increase) decrease in other assets | 39 |  | (58 | ) | 82 |
Net increase (decrease) in other liabilities | 11 |  | 8 |  | (82 | )
Other operating activities, net | 244 |  | 79 |  | (114 | )
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 1,350 |  | 1,672 |  | 573 |
INVESTING ACTIVITIES |  |  |
Net (increase) decrease in securities available for sale and in short-term and other investments | (6 | ) | 1 |  | 47 |
Cash infusion from purchase of Cain Brothers | — |  | — |  | (90 | )
Proceeds from sales, prepayments and maturities of securities available for sale | — |  | — |  | 1 |
Net (increase) decrease in loans to subsidiaries | 15 |  | 200 |  | — |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 9 |  | 201 |  | (42 | )
FINANCING ACTIVITIES |  |  |
Net proceeds from issuance of long-term debt | 750 |  | 1,250 |  | — |
Payments on long-term debt | (300 | ) | (750 | ) | — |
Repurchase of Treasury Shares | (868 | ) | (1,145 | ) | (730 | )
Net cash from the issuance (redemption) of Common Shares and preferred stock | 435 |  | 412 |  | (350 | )
Cash dividends paid | (804 | ) | (656 | ) | (480 | )
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | (787 | ) | (889 | ) | (1,560 | )
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS | 572 |  | 984 |  | (1,029 | )
CASH AND DUE FROM BANKS AT BEGINNING OF YEAR | 3,241 |  | 2,257 |  | 3,286 |
CASH AND DUE FROM BANKS AT END OF YEAR | $ | 3,813 |  | $ | 3,241 |  | $ | 2,257 |
KeyCorp paid interest on borrowed funds totaling $151 million in 2019, $131 million in 2018, and $120 million in 2017.

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration