MANAGEMENTGLYPH<213>S DISCUSSION & ANALYSIS OF FINANCIAL CONDITION & RESULTS OF OPERATIONS KEYCORP AND SUBSIDIARIES FIGURE 35. SELECTED QUARTERLY FINANCIAL DATA 44 PREVIOUS PAGE SEARCH BACK TO CONTENTS NEXT PAGE Note 3 (GLYPH<210>Acquisitions and DivestitureGLYPH<211>) on page 57 contains speciGLYPH<222>c information about the business combinations and divestiture that Key completed in the past three years to help you understand how those transactions may have impacted KeyGLYPH<213>s GLYPH<222>nancial condition and results of operations. 2003 Quarters 2002 Quarters dollars in millions, except per share amounts Fourth Third Second First Fourth Third Second First FOR THE QUARTER Interest income $ 956 $ 971 $1,022 $1,021 $1,077 $1,095 $1,102 $1,092 Interest expense 285 294 326 340 365 395 419 438 Net interest income 671 677 696 681 712 700 683 654 Provision for loan losses 123 123 125 130 147 135 135 136 Noninterest income 466 463 434 397 446 432 448 443 Noninterest expense 698 699 688 657 668 659 665 661 Income before taxes 316 318 317 291 343 338 331 300 Net income 234 227 225 217 245 245 246 240 PER COMMON SHARE Net income $ .56 $ .54 $ .53 $ .51 $.58 $.57 $.58 $.56 Net income GLYPH<209> assuming dilution .55 .53 .53 .51 .57 .57 .57 .56 Cash dividends paid .305 .305 .305 .305 .30 .30 .30 .30 Book value at period end 16.73 16.64 16.60 16.32 16.12 15.66 15.46 15.05 Market price: High 29.41 27.88 27.42 27.11 26.75 27.35 29.40 27.26 Low 25.55 24.86 22.56 22.31 21.25 20.96 25.95 22.92 Close 29.32 25.57 25.27 22.56 25.14 24.97 27.30 26.65 Weighted-average common shares (000) 420,043 421,971 423,882 425,275 424,578 426,274 426,092 424,855 Weighted-average common shares and  potential common shares (000) 423,752 425,669 427,170 428,090 429,531 431,326 431,935 430,019 AT PERIOD END Loans $62,711 $62,723 $63,214 $62,719 $62,457 $62,951 $63,881 $63,956 Earning assets 73,143 73,258 73,716 75,113 73,635 72,546 72,820 72,382 Total assets 84,487 84,460 85,479 86,490 85,202 83,516 82,778 81,359 Deposits 50,858 48,739 49,869 50,455 49,346 44,610 44,805 43,233 Long-term debt 15,294 15,342 14,434 16,269 15,605 16,276 16,895 15,256 ShareholdersGLYPH<213> equity 6,969 6,977 6,989 6,898 6,835 6,652 6,592 6,402 PERFORMANCE RATIOS Return on average total assets 1.11% 1.06% 1.07% 1.05% 1.17% 1.19% 1.21% 1.20% Return on average equity 13.37 13.06 12.98 12.91 14.46 14.74 15.16 15.53 Net interest margin (taxable equivalent) 3.78 3.73 3.85 3.86 3.98 3.99 3.98 3.93 CAPITAL RATIOS AT PERIOD END Equity to assets 8.25% 8.26% 8.18% 7.98% 8.02% 7.97% 7.96% 7.87% Tangible equity to tangible assets 6.94 6.94 6.90 6.71 6.73 6.71 6.69 6.57 Tier 1 risk-based capital 8.35 8.23 7.94 7.86 7.74 8.34 8.23 7.92 Total risk-based capital 12.57 12.48 12.15 12.18 12.11 12.69 12.29 12.02 Leverage 8.55 8.37 8.13 8.13 8.16 8.15 8.14 8.13 OTHER DATA Average full-time equivalent employees 19,618 20,059 19,999 20,447 20,485 20,802 20,903 21,079 KeyCenters 906 900 903 911 910 903 905 911