Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA


dollars in millions, except per share amounts	2020			2019		2018		2017		2016		Compound Annual Rate of Change (2016-2020)
YEAR ENDED DECEMBER 31,
Interest income	$	4,685		5,235		4,878		4,390		3,319		7.1	%
Interest expense	651			1,326		969		613		400		10.2
Net interest income	4,034			3,909		3,909		3,777		2,919		6.7
Provision for credit losses	1,021			445		246		229		266		30.9
Noninterest income	2,652			2,459		2,515		2,478		2,071		5.1
Noninterest expense	4,109			3,901		3,975		4,098		3,756		1.8
Income (loss) from continuing operations before income taxes	1,556			2,022		2,203		1,928		968		10.0
Income (loss) from continuing operations attributable to Key	1,329			1,708		1,859		1,289		790		11.0
Income (loss) from discontinued operations, net of taxes	14			9		7		7		1		N/A
Net income (loss) attributable to Key	1,343			1,717		1,866		1,296		791		11.2
Income (loss) from continuing operations attributable to Key common shareholders	1,223			1,611		1,793		1,219		753		10.2
Income (loss) from discontinued operations, net of taxes	14			9		7		7		1		N/A
Net income (loss) attributable to Key common shareholders	1,237			1,620		1,800		1,226		754		10.4
PER COMMON SHARE
Income (loss) from continuing operations attributable to Key common shareholders	$	1.26		1.62		1.72		1.13		0.81		9.2
Income (loss) from discontinued operations, net of taxes	.01			0.01		0.01		0.01		0		N/A
Net income (loss) attributable to Key common shareholders (a)	1.28			1.63		1.73		1.14		0.81		9.6
Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution	1.26			1.61		1.7		1.12		0.80		9.5
Income (loss) from discontinued operations, net of taxes — assuming dilution	.01			0.01		0.01		0.01		0		N/A
Net income (loss) attributable to Key common shareholders — assuming dilution (a)	1.27			1.62		1.71		1.13		0.80		9.7
Cash dividends paid	.74			0.71		0.565		0.38		0.33		17.5
Book value at year end	16.53			15.54		13.9		13.09		12.58		5.6
Tangible book value at year end	13.61			12.56		11.14		10.35		9.99		6.4
Market price at year end	16.41			20.24		14.78		20.17		18.27		(2.1)
Dividend payout ratio	57.8		%	43.6	%	32.7	%	33.3	%	40.7	%	N/A
Weighted-average common shares outstanding (000)	967,783			992,091		1,040,890		1,072,078		927,816		301.5
Weighted-average common shares and potential common shares outstanding (000) (b)	974,807			1,002,254		1,054,682		1,088,593		938,536		301.1
AT DECEMBER 31,
Loans	$	101,185		94,646		89,552		86,405		86,038		3.3	%
Earning assets	155,469			130,807		125,803		123,490		121,966		5.0
Total assets	170,336			144,988		139,613		137,698		136,453		4.5
Deposits	135,282			111,870		107,309		105,235		104,087		5.4
Long-term debt	13,709			12,448		13,732		14,333		12,384		2.1
Key common shareholders’ equity	16,081			15,138		14,145		13,998		13,575		3.4
Key shareholders’ equity	17,981			17,038		15,595		15,023		15,240		3.4
PERFORMANCE RATIOS — FROM CONTINUING OPERATIONS
Return on average total assets	.82		%	1.19	%	1.36	%	0.96	%	0.70	%	N/A
Return on average common equity	7.77			10.83		12.88		8.65		6.26		N/A
Return on average tangible common equity (c)	9.51			13.46		16.22		10.84		7.39		N/A
Net interest margin (TE)	2.77			3.04		3.17		3.17		2.92		N/A
Cash efficiency ratio (c)	60.2			59.6		60.0		63.5		73.7		N/A
PERFORMANCE RATIOS — FROM CONSOLIDATED OPERATIONS
Return on average total assets	.82		%	1.19	%	1.35	%	0.96	%	0.69	%	N/A
Return on average common equity	7.86			10.89		12.93		8.7		6.27		N/A
Return on average tangible common equity (c)	9.62			13.53		16.28		10.9		7.4		N/A
Net interest margin (TE)	2.76			3.03		3.15		3.15		2.91		N/A
Loan to deposit (d)	76.5			86.6		85.6		84.4		85.2		N/A
CAPITAL RATIOS AT DECEMBER 31,
Key shareholders’ equity to assets	10.56		%	11.75	%	11.17	%	10.91	%	11.17	%	N/A
Key common shareholders’ equity to assets	9.47			10.47		10.15		10.17		9.95		N/A
Tangible common equity to tangible assets (c)	7.93			8.64		8.3		8.23		8.09		N/A
Common Equity Tier 1	9.73			9.44		9.93		10.16		9.54		N/A
Tier 1 risk-based capital	11.11			10.86		11.08		11.01		10.89		N/A
Total risk-based capital	13.40			12.79		12.89		12.92		12.85		N/A
Leverage	8.94			9.88		9.89		9.73		9.9		N/A
TRUST ASSETS
Assets under management	$	44,140		40,833		36,775		39,588		36,592		1,545.5	%
OTHER DATA
Average full-time-equivalent employees	16,826			17,045		18,180		18,415		15,700		1.4	%
Branches	1,073			1,098		1,159		1,197		1,217		(2.5)

(a)EPS may not foot due to rounding.

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

(c)See the section entitled “GAAP to Non-GAAP Reconciliations,” which presents the computations of certain financial measures related to “tangible common equity” and “cash efficiency.” The section includes tables that reconcile the GAAP performance measures to the corresponding non-GAAP measures, which provides a basis for period-to-period comparisons.

(d)Represents period-end consolidated total loans and loans held for sale divided by period-end consolidated total deposits (excluding deposits in foreign office).

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