KeyBank 2007 Annual Report Download - page 15

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14 Management’s Discussion & Analysis of
Financial Condition & Results of Operations
14Introduction
14 Terminology
14 Description of business
14 Forward-looking statements
15 Long-term goals
16 Corporate strategy
16 Economic overview
17 Critical accounting policies and estimates
19Highlights of Key’s 2007 Performance
19 Financial performance
22 Financial outlook
23 Strategic developments
23 Line of Business Results
24 Community Banking summary of operations
25 National Banking summary of continuing
operations
27 Other Segments
27 Results of Operations
27 Net interest income
30 Noninterest income
33 Noninterest expense
34 Income taxes
35 Financial Condition
35 Loans and loans held for sale
39 Securities
41 Other investments
41 Deposits and other sources of funds
42 Capital
44 Off-Balance Sheet Arrangements and
Aggregate Contractual Obligations
44 Off-balance sheet arrangements
45 Contractual obligations
46 Guarantees
46 Risk Management
46 Overview
46 Market risk management
48 Liquidity risk management
51 Credit risk management
55 Operational risk management
56 Fourth Quarter Results
58 Certifications
59 Management’s Annual Report on Internal Control
Over Financial Reporting
60 Reports of Independent Registered Public
Accounting Firm
61Consolidated Financial Statements and Related Notes
61Consolidated Balance Sheets
62 Consolidated Statements of Income
63 Consolidated Statements of Changes
in Shareholders’ Equity
64 Consolidated Statements of Cash Flows
65 Summary of Significant Accounting Policies
73 Earnings Per Common Share
74 Acquisitions and Divestitures
75 Line of Business Results
78 Restrictions on Cash, Dividends
and Lending Activities
79 Securities
80 Loans and Loans Held for Sale
81Loan Securitizations, Servicing and
Variable Interest Entities
83 Nonperforming Assets and Past Due Loans
84 Goodwill and Other Intangible Assets
85 Short-Term Borrowings
86 Long-Term Debt
87 Capital Securities Issued by
Unconsolidated Subsidiaries
87 Shareholders’ Equity
88 Stock-Based Compensation
91Employee Benefits
95 Income Taxes
97 Commitments, Contingent Liabilities
and Guarantees
100 Derivatives and Hedging Activities
102 Fair Value Disclosures of Financial Instruments
103 Condensed Financial Information
of the Parent Company
FINANCIAL REVIEW 2007 KeyCorp Annual Report
13