Attached files
| file | filename |
|---|---|
| EX-99.2 - EXHIBIT 99.2 - KEYCORP /NEW/ | key4q17confcallslidesvfw.htm |
| EX-99.1 - EXHIBIT 99.1 - KEYCORP /NEW/ | a4q17earningsrelease.htm |
| 8-K - 8-K - KEYCORP /NEW/ | a4q17er8-k.htm |
Exhibit 99.3
Consolidated Balance Sheets | |||||||||||
(dollars in millions) | |||||||||||
12/31/2017 | 9/30/2017 | 12/31/2016 | |||||||||
Assets | |||||||||||
Loans | $ | 86,405 | $ | 86,492 | $ | 86,038 | |||||
Loans held for sale | 1,107 | 1,341 | 1,104 | ||||||||
Securities available for sale | 18,139 | 19,012 | 20,212 | ||||||||
Held-to-maturity securities | 11,830 | 10,276 | 10,232 | ||||||||
Trading account assets | 836 | 783 | 867 | ||||||||
Short-term investments | 4,447 | 3,993 | 2,775 | ||||||||
Other investments | 726 | 728 | 738 | ||||||||
Total earning assets | 123,490 | 122,625 | 121,966 | ||||||||
Allowance for loan and lease losses | (877 | ) | (880 | ) | (858 | ) | |||||
Cash and due from banks | 671 | 677 | 677 | ||||||||
Premises and equipment | 930 | 916 | 978 | ||||||||
Operating lease assets | 821 | 736 | 540 | ||||||||
Goodwill | 2,538 | 2,487 | 2,446 | ||||||||
Other intangible assets | 416 | 412 | 384 | ||||||||
Corporate-owned life insurance | 4,132 | 4,113 | 4,068 | ||||||||
Derivative assets | 669 | 622 | 803 | ||||||||
Accrued income and other assets | 3,568 | 3,744 | 3,864 | ||||||||
Discontinued assets | 1,340 | 1,396 | 1,585 | ||||||||
Total assets | $ | 137,698 | $ | 136,733 | $ | 136,453 | |||||
Liabilities | |||||||||||
Deposits in domestic offices: | |||||||||||
NOW and money market deposit accounts | $ | 53,627 | $ | 53,734 | $ | 54,590 | |||||
Savings deposits | 6,296 | 6,366 | 6,491 | ||||||||
Certificates of deposit ($100,000 or more) | 6,849 | 6,519 | 5,483 | ||||||||
Other time deposits | 4,798 | 4,720 | 4,698 | ||||||||
Total interest-bearing deposits | 71,570 | 71,339 | 71,262 | ||||||||
Noninterest-bearing deposits | 33,665 | 32,107 | 32,825 | ||||||||
Total deposits | 105,235 | 103,446 | 104,087 | ||||||||
Federal funds purchased and securities sold under repurchase agreements | 377 | 372 | 1,502 | ||||||||
Bank notes and other short-term borrowings | 634 | 616 | 808 | ||||||||
Derivative liabilities | 291 | 232 | 636 | ||||||||
Accrued expense and other liabilities | 1,803 | 1,717 | 1,796 | ||||||||
Long-term debt | 14,333 | 15,100 | 12,384 | ||||||||
Total liabilities | 122,673 | 121,483 | 121,213 | ||||||||
Equity | |||||||||||
Preferred stock | 1,025 | 1,025 | 1,665 | ||||||||
Common shares | 1,257 | 1,257 | 1,257 | ||||||||
Capital surplus | 6,335 | 6,310 | 6,385 | ||||||||
Retained earnings | 10,194 | 10,125 | 9,378 | ||||||||
Treasury stock, at cost | (3,150 | ) | (2,962 | ) | (2,904 | ) | |||||
Accumulated other comprehensive income (loss) | (638 | ) | (506 | ) | (541 | ) | |||||
Key shareholders’ equity | 15,023 | 15,249 | 15,240 | ||||||||
Noncontrolling interests | 2 | 1 | — | ||||||||
Total equity | 15,025 | 15,250 | 15,240 | ||||||||
Total liabilities and equity | $ | 137,698 | $ | 136,733 | $ | 136,453 | |||||
Common shares outstanding (000) | 1,069,084 | 1,079,039 | 1,079,314 | ||||||||
Consolidated Statements of Income | ||||||||||||||||||
(dollars in millions, except per share amounts) | ||||||||||||||||||
Three months ended | Twelve months ended | |||||||||||||||||
12/31/2017 | 9/30/2017 | 12/31/2016 | 12/31/2017 | 12/31/2016 | ||||||||||||||
Interest income | ||||||||||||||||||
Loans | $ | 924 | $ | 928 | $ | 898 | $ | 3,677 | $ | 2,773 | ||||||||
Loans held for sale | 13 | 17 | 11 | 52 | 34 | |||||||||||||
Securities available for sale | 93 | 91 | 92 | 369 | 329 | |||||||||||||
Held-to-maturity securities | 61 | 55 | 44 | 222 | 122 | |||||||||||||
Trading account assets | 6 | 7 | 6 | 27 | 23 | |||||||||||||
Short-term investments | 12 | 6 | 5 | 26 | 22 | |||||||||||||
Other investments | 5 | 5 | 6 | 17 | 16 | |||||||||||||
Total interest income | 1,114 | 1,109 | 1,062 | 4,390 | 3,319 | |||||||||||||
Interest expense | ||||||||||||||||||
Deposits | 82 | 72 | 57 | 278 | 171 | |||||||||||||
Federal funds purchased and securities sold under repurchase agreements | — | — | 1 | 1 | 1 | |||||||||||||
Bank notes and other short-term borrowings | 3 | 3 | 3 | 15 | 10 | |||||||||||||
Long-term debt | 91 | 86 | 63 | 319 | 218 | |||||||||||||
Total interest expense | 176 | 161 | 124 | 613 | 400 | |||||||||||||
Net interest income | 938 | 948 | 938 | 3,777 | 2,919 | |||||||||||||
Provision for credit losses | 49 | 51 | 66 | 229 | 266 | |||||||||||||
Net interest income after provision for credit losses | 889 | 897 | 872 | 3,548 | 2,653 | |||||||||||||
Noninterest income | ||||||||||||||||||
Trust and investment services income | 131 | 135 | 123 | 535 | 464 | |||||||||||||
Investment banking and debt placement fees | 200 | 141 | 157 | 603 | 482 | |||||||||||||
Service charges on deposit accounts | 89 | 91 | 84 | 357 | 302 | |||||||||||||
Operating lease income and other leasing gains | 27 | 16 | 21 | 96 | 62 | |||||||||||||
Corporate services income | 56 | 54 | 61 | 219 | 215 | |||||||||||||
Cards and payments income | 77 | 75 | 69 | 287 | 233 | |||||||||||||
Corporate-owned life insurance income | 37 | 31 | 40 | 131 | 125 | |||||||||||||
Consumer mortgage income | 7 | 7 | 6 | 26 | 17 | |||||||||||||
Mortgage servicing fees | 17 | 21 | 20 | 71 | 57 | |||||||||||||
Net gains (losses) from principal investing | 3 | 3 | 4 | 7 | 20 | |||||||||||||
Other income (a) | 12 | 18 | 33 | 146 | 94 | |||||||||||||
Total noninterest income | 656 | 592 | 618 | 2,478 | 2,071 | |||||||||||||
Noninterest expense | ||||||||||||||||||
Personnel | 608 | 558 | 648 | 2,273 | 2,073 | |||||||||||||
Net occupancy | 92 | 74 | 112 | 331 | 305 | |||||||||||||
Computer processing | 54 | 56 | 97 | 225 | 255 | |||||||||||||
Business services and professional fees | 52 | 49 | 78 | 192 | 235 | |||||||||||||
Equipment | 31 | 29 | 30 | 114 | 98 | |||||||||||||
Operating lease expense | 28 | 24 | 17 | 92 | 59 | |||||||||||||
Marketing | 35 | 34 | 35 | 120 | 101 | |||||||||||||
FDIC assessment | 20 | 21 | 23 | 82 | 61 | |||||||||||||
Intangible asset amortization | 26 | 25 | 27 | 95 | 55 | |||||||||||||
OREO expense, net | 3 | 3 | 3 | 11 | 9 | |||||||||||||
Other expense | 149 | 119 | 150 | 563 | 505 | |||||||||||||
Total noninterest expense | 1,098 | 992 | 1,220 | 4,098 | 3,756 | |||||||||||||
Income (loss) from continuing operations before income taxes | 447 | 497 | 270 | 1,928 | 968 | |||||||||||||
Income taxes | 251 | 134 | 38 | 637 | 179 | |||||||||||||
Income (loss) from continuing operations | 196 | 363 | 232 | 1,291 | 789 | |||||||||||||
Income (loss) from discontinued operations, net of taxes | 1 | 1 | (4 | ) | 7 | 1 | ||||||||||||
Net income (loss) | 197 | 364 | 228 | 1,298 | 790 | |||||||||||||
Less: Net income (loss) attributable to noncontrolling interests | 1 | — | (1 | ) | 2 | (1 | ) | |||||||||||
Net income (loss) attributable to Key | $ | 196 | $ | 364 | $ | 229 | $ | 1,296 | $ | 791 | ||||||||
Income (loss) from continuing operations attributable to Key common shareholders | $ | 181 | $ | 349 | $ | 213 | $ | 1,219 | $ | 753 | ||||||||
Net income (loss) attributable to Key common shareholders | 182 | 350 | 209 | 1,226 | 754 | |||||||||||||
Per common share | ||||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders | $ | .17 | $ | .32 | $ | .2 | $ | 1.13 | $ | .81 | ||||||||
Income (loss) from discontinued operations, net of taxes | — | — | — | .01 | — | |||||||||||||
Net income (loss) attributable to Key common shareholders (b) | .17 | .32 | .2 | 1.14 | .81 | |||||||||||||
Per common share — assuming dilution | ||||||||||||||||||
Income (loss) from continuing operations attributable to Key common shareholders | $ | .17 | $ | .32 | $ | .2 | $ | 1.12 | $ | .8 | ||||||||
Income (loss) from discontinued operations, net of taxes | — | — | — | .01 | — | |||||||||||||
Net income (loss) attributable to Key common shareholders (b) | .17 | .32 | .19 | 1.13 | .8 | |||||||||||||
Cash dividends declared per common share | $ | .105 | $ | .095 | $ | .085 | $ | .38 | $ | .33 | ||||||||
Weighted-average common shares outstanding (000) | 1,062,348 | 1,073,390 | 1,067,771 | 1,072,078 | 927,816 | |||||||||||||
Effect of common share options and other stock awards | 16,982 | 15,451 | 15,946 | 16,515 | 10,720 | |||||||||||||
Weighted-average common shares and potential common shares outstanding (000) (c) | 1,079,330 | 1,088,841 | 1,083,717 | 1,088,593 | 938,536 | |||||||||||||
(a) | For the three months ended December 31, 2017, net securities gains (losses) totaled $1 million. For the three months ended September 30, 2017, net securities gains (losses) totaled less than $1 million. For the three months ended December 31, 2016, net securities gains (losses) totaled $6 million. For the three months ended December 31, 2017, September 30, 2017, and December 31, 2016, Key did not have any impairment losses related to securities. |
(b) | Earnings per share may not foot due to rounding. |
(c) | Assumes conversion of common share options and other stock awards and/or convertible preferred stock, as applicable. |