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Condensed Financial Information of the Parent Company (Tables) | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Schedule of Condensed Balance Sheets | CONDENSED BALANCE SHEETS
December 31, Dollars in millions | 2023 | 2022
ASSETS |  |
Cash and due from banks | $ | 2,727 |  | $ | 3,146 |
Short-term investments | 17 |  | 15 |
Securities available for sale | — |  | — |
Other investments | 85 |  | 78 |
Loans to: |  |
Banks | 250 |  | 250 |
Nonbank subsidiaries | — |  | 16 |
Total loans | 250 |  | 266 |
Investment in subsidiaries: |  |
Banks | 14,789 |  | 13,033 |
Nonbank subsidiaries | 901 |  | 928 |
Total investment in subsidiaries | 15,690 |  | 13,961 |
Goodwill | 167 |  | 167 |
Corporate-owned life insurance | 197 |  | 209 |
Derivative assets | 1 |  | 111 |
Accrued income and other assets | 331 |  | 248 |
Total assets | $ | 19,465 |  | $ | 18,201 |
LIABILITIES |  |
Accrued expense and other liabilities | $ | 511 |  | $ | 508 |
Long-term debt due to: |  |
Subsidiaries | 447 |  | 450 |
Unaffiliated companies | 3,870 |  | 3,789 |
Total long-term debt | 4,317 |  | 4,239 |
Total liabilities | 4,828 |  | 4,747 |
SHAREHOLDERS’ EQUITY (a) | 14,637 |  | 13,454 |
Total liabilities and shareholders’ equity | $ | 19,465 |  | $ | 18,201 |
(a)See Key’s Consolidated Statements of Changes in Equity.
Schedule of Condensed Statements of Income | CONDENSED STATEMENTS OF INCOME
Year ended December 31, |  |  |
Dollars in millions | 2023 | 2022 | 2021
INCOME |  |  |
Dividends from subsidiaries: |  |  |
Bank subsidiaries | $ | 675 |  | $ | 475 |  | $ | 1,925 |
Nonbank subsidiaries | — |  | 100 |  | 50 |
Interest income from subsidiaries | 15 |  | 4 |  | 1 |
Other income | 24 |  | 7 |  | 36 |
Total income | 714 |  | 586 |  | 2,012 |
EXPENSE |  |  |
Interest on long-term debt with subsidiary trusts | 33 |  | 19 |  | 13 |
Interest on other borrowed funds | 273 |  | 130 |  | 65 |
Personnel and other expense | 111 |  | 101 |  | 101 |
Total expense | 417 |  | 250 |  | 179 |
Income (loss) before income taxes and equity in net income (loss) less dividends from subsidiaries | 297 |  | 336 |  | 1,833 |
Income tax (expense) benefit | 95 |  | 60 |  | 38 |
Income (loss) before equity in net income (loss) less dividends from subsidiaries | 392 |  | 396 |  | 1,871 |
Equity in net income (loss) less dividends from subsidiaries | 575 |  | 1,521 |  | 754 |
NET INCOME (LOSS) | 967 |  | 1,917 |  | 2,625 |
Less: Net income attributable to noncontrolling interests | — |  | — |  | — |
NET INCOME (LOSS) ATTRIBUTABLE TO KEY | $ | 967 |  | $ | 1,917 |  | $ | 2,625 |
.
Schedule of Condensed Statements of Cash Flows | CONDENSED STATEMENTS OF CASH FLOWS
Year ended December 31, |  |  |
Dollars in millions | 2023 | 2022 | 2021
OPERATING ACTIVITIES |  |  |
Net income (loss) attributable to Key | $ | 967 |  | $ | 1,917 |  | $ | 2,625 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |
Deferred income taxes (benefit) | (6) |  | 6 |  | (22) |
Stock-based compensation expense | 9 |  | 117 |  | 9 |
Equity in net (income) loss less dividends from subsidiaries | (575) |  | (1,521) |  | (754) |
Net (increase) decrease in other assets | 44 |  | 23 |  | 13 |
Net increase (decrease) in other liabilities | 3 |  | (24) |  | 48 |
Other operating activities, net | 122 |  | (480) |  | (414) |
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 564 |  | 38 |  | 1,505 |
INVESTING ACTIVITIES |  |  |
Net (increase) decrease in securities available for sale and in short-term and other investments | (14) |  | (26) |  | (15) |
Proceeds from sales, prepayments and maturities of securities available for sale | — |  | — |  | — |
Net (increase) decrease in loans to subsidiaries | 16 |  | (200) |  | — |
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | 2 |  | (226) |  | (15) |
FINANCING ACTIVITIES |  |  |
Net proceeds from issuance of long-term debt | — |  | 1,350 |  | — |
Payments on long-term debt | — |  | — |  | (997) |
Repurchase of Treasury Shares | (73) |  | (44) |  | (1,176) |
Net cash from the issuance (redemption) of Common Shares and preferred stock | — |  | 590 |  | — |
Cash dividends paid | (912) |  | (855) |  | (823) |
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | (985) |  | 1,041 |  | (2,996) |
NET INCREASE (DECREASE) IN CASH AND DUE FROM BANKS | (419) |  | 853 |  | (1,506) |
CASH AND DUE FROM BANKS AT BEGINNING OF YEAR | 3,146 |  | 2,293 |  | 3,799 |
CASH AND DUE FROM BANKS AT END OF YEAR | $ | 2,727 |  | $ | 3,146 |  | $ | 2,293 |

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- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 04 -Paragraph (a) -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 + Details
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