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Accounting Changes and New Accounting Guidance (Tables)
6 Months Ended
Jun. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]  
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



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