KeyBank 2004 Annual Report Download - page 53

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51
KEYCORP AND SUBSIDIARIES
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December 31,
dollars in millions 2004 2003
ASSETS
Cash and due from banks $ 2,454 $2,712
Short-term investments 1,472 1,604
Securities available for sale 7,451 7,638
Investment securities (fair value: $74 and $104) 71 98
Other investments 1,421 1,092
Loans, net of unearned income of $2,235 and $1,958 68,464 62,711
Less: Allowance for loan losses 1,138 1,406
Net loans 67,326 61,305
Premises and equipment 603 606
Goodwill 1,359 1,150
Other intangible assets 87 37
Corporate-owned life insurance 2,608 2,512
Accrued income and other assets 5,887 5,733
Total assets $90,739 $84,487
LIABILITIES
Deposits in domestic offices:
NOW and money market deposit accounts $21,748 $18,947
Savings deposits 1,970 2,083
Certificates of deposit ($100,000 or more) 4,697 4,891
Other time deposits 10,435 11,008
Total interest-bearing 38,850 36,929
Noninterest-bearing 11,581 11,175
Deposits in foreign office — interest-bearing 7,411 2,754
Total deposits 57,842 50,858
Federal funds purchased and securities sold under repurchase agreements 2,145 2,667
Bank notes and other short-term borrowings 2,515 2,947
Accrued expense and other liabilities 6,274 5,752
Long-term debt 14,846 15,294
Total liabilities 83,622 77,518
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 1,491 1,448
Retained earnings 7,284 6,838
Treasury stock, at cost (84,319,111 and 75,394,536 shares) (2,128) (1,801)
Accumulated other comprehensive loss (22) (8)
Total shareholders’ equity 7,117 6,969
Total liabilities and shareholders’ equity $90,739 $84,487
See Notes to Consolidated Financial Statements.
CONSOLIDATED BALANCE SHEETS