KeyBank 2014 Annual Report Download - page 223

Year ended December 31, 2013
in millions
Amount Reclassified from
Accumulated Other
Comprehensive Income
Affected Line Item in the Statement
Where Net Income is Presented
Unrealized gains (losses) on available for sale
securities
Realized gains $ 1 Other income
1
Income (loss) from continuing operations before
income taxes
— Income taxes
$ 1 Income (loss) from continuing operations
Unrealized gains (losses) on derivative financial
instruments
Interest rate $ 67 Interest income — Loans
Interest rate (8) Interest expense — Long term debt
Foreign exchange contracts (3) Other income
56
Income (loss) from continuing operations before
income taxes
21 Income taxes
$ 35 Income (loss) from continuing operations
Foreign currency translation adjustment
$ 7 Corporate services income
7
Income (loss) from continuing operations before
income taxes
3 Income taxes
$ 4 Income (loss) from continuing operations
Net pension and postretirement benefit costs
Amortization of losses $ (19) Personnel expense
Settlement loss (27) Personnel expense
Amortization of prior service credit 1 Personnel expense
(45)
Income (loss) from continuing operations before
income taxes
(17) Income taxes
$ (28) Income (loss) from continuing operations
22. Shareholders’ Equity
Comprehensive Capital Plan
As previously reported and as authorized by our Board of Directors and pursuant to our 2014 capital plan
submitted to and not objected to by the Federal Reserve, we have authority to repurchase up to $542 million of
our common shares, which include repurchases to offset issuances of common shares under our employee
compensation plans. Common share repurchases under our 2014 capital plan began in the second quarter of 2014
and are expected to be executed through the first quarter of 2015. During 2014, we completed $355 million of
common share repurchases under our 2014 capital plan authorization. In addition, we completed $141 million of
common share repurchases in the first quarter of 2014 under our 2013 capital plan for a total of $496 million of
open market common share repurchases during 2014.
The Board declared a quarterly dividend of $.055 per common share for the first quarter of 2014. Consistent with
our 2014 capital plan, the Board declared a quarterly dividend of $.065 per common share for the second, third,
and fourth quarters of 2014, which brought our annual dividend to $.25 per common share for 2014.
Capital Adequacy
KeyCorp and KeyBank must meet specific capital requirements imposed by federal banking regulators.
Sanctions for failure to meet applicable capital requirements may include regulatory enforcement actions that
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