Our basic and diluted earnings per Common Share are calculated as follows: | | | | | | | | | | | | | Year ended December 31, | | | | | Dollars in millions, except per share amounts | 2025 | 2024 | 2023 | | EARNINGS | | | | | Income (loss) from continuing operations | $ | 1,828 | | $ | (163) | | $ | 964 | | | | | | | | | | | Less: Dividends on preferred stock | 143 | | 143 | | 143 | | | Income (loss) from continuing operations attributable to Key common shareholders | 1,685 | | (306) | | 821 | | | Income (loss) from discontinued operations, net of taxes | 1 | | 2 | | 3 | | | Net income (loss) attributable to Key common shareholders | $ | 1,686 | | $ | (304) | | $ | 824 | | | WEIGHTED-AVERAGE COMMON SHARES | | | | | Weighted-average Common Shares outstanding (000) | 1,098,558 | | 949,561 | | 927,217 | | | | | | Effect of common share options and other stock awards(a) | 9,436 | | — | | 5,542 | | Weighted-average common shares and potential Common Shares outstanding (000) (b) | 1,107,994 | | 949,561 | | 932,759 | | | EARNINGS PER COMMON SHARE | | | | | Income (loss) from continuing operations attributable to Key common shareholders | $ | 1.53 | | $ | (.32) | | $ | .88 | | | Income (loss) from discontinued operations, net of taxes | — | | — | | — | | Net income (loss) attributable to Key common shareholders (c) | 1.53 | | (.32) | | .89 | | | Income (loss) from continuing operations attributable to Key common shareholders — assuming dilution | 1.52 | | (.32) | | .88 | | | Income (loss) from discontinued operations, net of taxes — assuming dilution | — | | — | | — | | Net income (loss) attributable to Key common shareholders — assuming dilution (c) | 1.52 | | (.32) | | .88 | |
(a)For periods ended in a loss from continuing operations attributable to Key common shareholders, anti-dilutive instruments have been excluded from the calculation of diluted earnings per share. (b)Assumes conversion of Common Share options and other stock awards and/or convertible preferred stock, as applicable. (c)EPS may not foot due to rounding.
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