KeyBank 2015 Annual Report Download - page 231

Year ended December 31, 2014
in millions
Amount Reclassified from
Accumulated Other
Comprehensive Income
Affected Line Item in the Statement
Where Net Income is Presented
Unrealized gains (losses) on derivative financial
instruments
Interest rate $ 67 Interest income — Loans
Interest rate (4) Interest expense — Long-term debt
63
Income (loss) from continuing operations before
income taxes
23 Income taxes
$ 40 Income (loss) from continuing operations
Foreign currency translation adjustment
$ 3 Corporate services income
3
Income (loss) from continuing operations before
income taxes
— Income taxes
$ 3 Income (loss) from continuing operations
Net pension and postretirement benefit costs
Amortization of losses $ (15) Personnel expense
Settlement loss (23) Personnel expense
Amortization of prior service credit 1 Personnel expense
(37)
Income (loss) from continuing operations before
income taxes
(14) Income taxes
$ (23) Income (loss) from continuing operations
22. Shareholders’ Equity
Comprehensive Capital Plan
As previously reported and as authorized by the Board and pursuant to our 2015 capital plan submitted to and not
objected to by the Federal Reserve, we had authority to repurchase up to $725 million of our common shares,
which include repurchases to offset issuances of common shares under our employee compensation plans.
Common share repurchases under our 2015 capital plan began in the second quarter of 2015 and were suspended
in the fourth quarter of 2015 due to the pending merger with First Niagara. Share repurchases are expected to be
included in the upcoming 2016 CCAR submission.
During 2015, we repurchased $252 million of common shares under our 2015 capital plan authorization. In
addition, during the first quarter of 2015, we repurchased $208 million of common shares under our 2014 capital
plan for a total of $460 million of common share repurchases during 2015.
Our Board declared a quarterly dividend of $.065 per common share for the first quarter of 2015. Consistent with
our 2015 capital plan, the Board declared a quarterly dividend of $.075 per common share for the second, third,
and fourth quarters of 2015, which brought our annual dividend to $.29 per common share for 2015. Our Board
will consider an additional potential increase in our quarterly common share dividend, up to $.085 per share, in
2016 for the fifth quarter of the 2015 capital plan.
Preferred Stock
We made quarterly dividend payments of $1.9375 per share on our Series A Preferred Stock during each quarter
of 2015 for a total of $23 million.
216