EX-12.1 2 bkq2201510-qex121.htm COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK BK Q2 2015 10-Q EX12.1


Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS

The Bank of New York Mellon Corporation
 
 
Quarter ended
Year-to-date
(dollar amounts in millions)
June 30,
2015

March 31,
2015

June 30,
2014

June 30,
2015

June 30,
2014

Earnings
 
 
 
 
 
Income before income taxes (a)
$
1,165

$
1,090

$
811

$
2,255

$
1,737

Net (income) attributable to noncontrolling interests (a)
(36
)
(31
)
(17
)
(67
)
(37
)
Income before income taxes attributable to shareholders of The Bank of New York Mellon Corporation
1,129

1,059

794

2,188

1,700

Fixed charges, excluding interest on deposits
87

92

97

179

185

Income before income taxes and fixed charges, excluding interest on deposits applicable to the shareholders of The Bank of New York Mellon Corporation
1,216

1,151

891

2,367

1,885

Interest on deposits
8

15

24

23

46

Income before income taxes and fixed charges, including interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation
$
1,224

$
1,166

$
915

$
2,390

$
1,931

Fixed charges
 
 
 
 
 
Interest expense, excluding interest on deposits
$
60

$
64

$
68

$
124

$
130

One-third net rental expense (b)
27

28

29

55

55

Total fixed charges, excluding interest on deposits
87

92

97

179

185

Interest on deposits
8

15

24

23

46

Total fixed charges, including interests on deposits
$
95

$
107

$
121

$
202

$
231

Preferred stock dividends
$
23

$
13

$
23

$
36

$
36

 
 
 
 
 
 
Total fixed charges and preferred stock dividends, excluding interest on deposits
$
110

$
105

$
120

$
215

$
221

Total fixed charges and preferred stock dividends, including interest on deposits
$
118

$
120

$
144

$
238

$
267

 
 
 
 
 
 
Earnings to fixed charges ratios
 
 
 
 
 
Excluding interest on deposits
13.98

12.51

9.19

13.22

10.19

Including interest on deposits
12.88

10.90

7.56

11.83

8.36

 
 
 
 
 
 
Earnings to fixed charges and preferred stock dividends ratios
 
 
 
 
 
Excluding interest on deposits
11.05

10.96

7.43

11.01

8.53

Including interest on deposits
10.37

9.72

6.35

10.04

7.23

(a)
The first quarter of 2015 was restated to reflect the retrospective application of adopting new accounting guidance related to Consolidations (ASU 2015-02). See Note 2 of the Notes to Consolidated Financial Statements for additional information.
(b)
The proportion deemed representative of the interest factor.