Impact of the new accounting guidance |
The table below presents the impact of this new accounting guidance on our previously reported income statement.
| | | | | | | | | | | | | Income statement for the quarter ended March 31, 2015 (unaudited) | As previously reported | | Adjustments | | As revised | (in millions, except per share amounts) | | | Fee and other revenue | | | | | | Investment management and performance fees | $ | 854 |
| | $ | 13 |
| | $ | 867 |
| Investment and other income | 63 |
| | (3 | ) | | 60 |
| Total fee revenue | 2,978 |
| | 10 |
| | 2,988 |
| Total fee and other revenue | 3,002 |
| | 10 |
| | 3,012 |
| Operations of consolidated investment management funds | | | | | | Investment income | 189 |
| | (133 | ) | | 56 |
| Interest of investment management fund note holders | 68 |
| | (64 | ) | | 4 |
| Income from consolidated investment management funds | 121 |
| | (69 | ) | | 52 |
| Income | | | | | | Income before income taxes | 1,149 |
| | (59 | ) | | 1,090 |
| Net income | 869 |
| | (59 | ) | | 810 |
| Net (income) attributable to noncontrolling interests | (90 | ) | | 59 |
| | (31 | ) | Net income applicable to common shareholders of The Bank of New York Mellon Corporation | 766 |
| | — |
| | 766 |
| Diluted earnings per share | 0.67 |
| | — |
| | 0.67 |
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The table below presents the impact of this new accounting guidance on our previously reported balance sheet.
| | | | | | | | | | | | | Balance sheet at March 31, 2015 (unaudited) | As previously reported | | Adjustments | | As revised | (in millions) | | | Assets | | | | | | Other assets | $ | 22,315 |
| | $ | (7 | ) | | $ | 22,308 |
| Subtotal assets of operations | 390,663 |
| | (7 | ) | | 390,656 |
| Assets of consolidated investment management funds, at fair value: | | | | | | Trading assets | 7,852 |
| | (6,356 | ) | | 1,496 |
| Other assets | 573 |
| | (388 | ) | | 185 |
| Subtotal assets of consolidated investment management funds, at fair value | 8,425 |
| | (6,744 | ) | | 1,681 |
| Total assets | 399,088 |
| | (6,751 | ) | | 392,337 |
| Liabilities and Equity | | | | | | Liabilities of consolidated investment management funds, at fair value: | | | | | | Trading liabilities | 6,584 |
| | (6,320 | ) | | 264 |
| Other liabilities | 36 |
| | 70 |
| | 106 |
| Subtotal liabilities of consolidated investment management funds, at fair value | 6,620 |
| | (6,250 | ) | | 370 |
| Total liabilities | 360,208 |
| | (6,250 | ) | | 353,958 |
| Nonredeemable noncontrolling interests of consolidated investment management funds | 1,337 |
| | (501 | ) | | 836 |
| Total permanent equity | 38,665 |
| | (501 | ) | | 38,164 |
| Total liabilities, temporary equity and permanent equity | 399,088 |
| | (6,751 | ) | | 392,337 |
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