KeyBank 2007 Annual Report Download - page 63

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61
KEYCORP AND SUBSIDIARIES
December 31,
dollars in millions 2007 2006
ASSETS
Cash and due from banks $ 1,814 $ 2,264
Short-term investments 800 495
Trading account assets 1,056 912
Securities available for sale 7,860 7,827
Held-to-maturity securities (fair value: $28 and $42) 28 41
Other investments 1,538 1,352
Loans, net of unearned income of $2,202 and $2,136 70,823 65,826
Less: Allowance for loan losses 1,200 944
Net loans 69,623 64,882
Loans held for sale 4,736 3,637
Premises and equipment 681 595
Operating lease assets 1,128 1,124
Goodwill 1,252 1,202
Other intangible assets 123 120
Corporate-owned life insurance 2,872 2,782
Derivative assets 2,205 1,091
Accrued income and other assets 4,267 4,013
Total assets $99,983 $92,337
LIABILITIES
Deposits in domestic offices:
NOW and money market deposit accounts $27,635 $24,340
Savings deposits 1,513 1,642
Certificates of deposit ($100,000 or more) 6,982 5,941
Other time deposits 11,615 11,956
Total interest-bearing 47,745 43,879
Noninterest-bearing 11,028 13,553
Deposits in foreign office — interest-bearing 4,326 1,684
Total deposits 63,099 59,116
Federal funds purchased and securities sold under repurchase agreements 3,927 3,643
Bank notes and other short-term borrowings 6,453 1,192
Derivative liabilities 1,340 922
Accrued expense and other liabilities 5,461 5,228
Long-term debt 11,957 14,533
Total liabilities 92,237 84,634
SHAREHOLDERS’ EQUITY
Preferred stock, $1 par value; authorized 25,000,000 shares, none issued ——
Common shares, $1 par value; authorized 1,400,000,000 shares;
issued 491,888,780 shares 492 492
Capital surplus 1,623 1,602
Retained earnings 8,522 8,377
Treasury stock, at cost (103,095,907 and 92,735,595 shares) (3,021) (2,584)
Accumulated other comprehensive income (loss) 130 (184)
Total shareholders’ equity 7,746 7,703
Total liabilities and shareholders’ equity $99,983 $92,337
See Notes to Consolidated Financial Statements.
CONSOLIDATED BALANCE SHEETS