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Consolidated Income Statement (unaudited) - USD ($)
shares in Thousands, $ in Millions
3 Months Ended
Mar. 31, 2016
Dec. 31, 2015
Mar. 31, 2015
Investment services fees:      
Foreign exchange and other trading revenue $ 175 $ 173 $ 229
Net securities gains 20 21 24
Total fee and other revenue 2,971 [1] 2,961 [2] 3,033 [3]
Net interest revenue      
Interest revenue 883 834 807
Interest expense 117 74 79
Net interest revenue 766 760 728
Provision for credit losses 10 163 2
Net interest revenue after provision for credit losses 756 597 726
Noninterest expense      
Amortization of intangible assets 57   66
Income      
Income before income taxes 1,091 871 1,090
Provision for income taxes 283 175 280
Net income 808 696 810
Net loss (income) attributable to noncontrolling interests (includes $7, $(5) and $(31) related to consolidated investment management funds, respectively) 9 (3) (31)
Net income applicable to shareholders of The Bank of New York Mellon Corporation 817 693 779
Preferred stock dividends (13) (56) (13)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation 804 637 766
Reconciliation of net income to the net income applicable to common shareholders of The Bank of New York Mellon Corporation      
Net income applicable to common shareholders of The Bank of New York Mellon Corporation 804 637 766
Less: Earnings allocated to participating securities 11 9 12
Net income applicable to the common shareholders of The Bank of New York Mellon Corporation after required adjustment for the calculation of basic and diluted earnings per common share $ 793 $ 628 $ 754
Average common shares and equivalents outstanding of The Bank of New York Mellon Corporation      
Basic (shares) 1,079,641 1,088,880 1,118,602
Common stock equivalents (shares) 14,963 16,944 18,667
Less: Participating securities (shares) (9,320) (9,439) (10,963)
Diluted (shares) 1,085,284 1,096,385 1,126,306
Anti-dilutive securities (shares) [4] 33,720 27,316 37,517
Basic:      
Basic (usd per share) [5] $ 0.73 $ 0.58 $ 0.67
Diluted:      
Diluted (usd per share) [5] $ 0.73 $ 0.57 $ 0.67
Operations      
Investment services fees:      
Asset servicing $ 1,040 $ 1,032 $ 1,038
Clearing services 350 339 344
Issuer services 244 199 232
Treasury services 131 137 137
Total investment services fees 1,765 1,707 1,751
Investment management and performance fees 812 864 867
Foreign exchange and other trading revenue 175 173 229
Financing-related fees 39 41 41
Distribution and servicing 54 51 40
Investment and other income 105 93 60
Total fee revenue 2,950 2,929 2,988
Net securities gains — including other-than-temporary impairment 19 17 26
Noncredit-related portion of other-than-temporary impairment (recognized in other comprehensive income) (1) (4) 2
Net securities gains 20 21 24
Total fee and other revenue 2,970 2,950 3,012
Noninterest expense      
Staff 1,459 1,481 1,485
Professional, legal and other purchased services 278 328 302
Software 154 157 158
Net occupancy 142 148 151
Distribution and servicing 100 92 98
Furniture and equipment 65 68 70
Sub-custodian 59 60 70
Business development 57 75 61
Other 241 201 242
Amortization of intangible assets 57 64 66
Merger and integration, litigation and restructuring charges (recoveries) 17 18 (3)
Total noninterest expense 2,629 2,692 2,700
Investment Management funds      
Investment services fees:      
Total fee and other revenue 1 11 21
Operations of consolidated investment management funds      
Investment (loss) income (3) 19 56
Interest of investment management fund note holders 3 3 4
(Loss) income from consolidated investment management funds (6) 16 52
Income      
Net loss (income) attributable to noncontrolling interests (includes $7, $(5) and $(31) related to consolidated investment management funds, respectively) $ 7 $ (5) $ (31)
[1] Both fee and other revenue and total revenue include the net income from consolidated investment management funds of $1 million, representing $6 million of losses and a loss attributable to noncontrolling interests of $7 million. Income (loss) before taxes is net of a loss attributable to noncontrolling interests of $7 million.
[2] Both fee and other revenue and total revenue include the net income from consolidated investment management funds of $11 million, representing $16 million of income and noncontrolling interests of $5 million. Income (loss) before taxes is net of noncontrolling interests of $5 million.
[3] Both fee and other revenue and total revenue include net income from consolidated investment management funds of $21 million, representing $52 million of income and noncontrolling interests of $31 million. Income before taxes is net of noncontrolling interests of $31 million.
[4] Represents stock options, restricted stock, restricted stock units and participating securities outstanding but not included in the computation of diluted average common shares because their effect would be anti-dilutive.
[5] Basic and diluted earnings per share under the two-class method are determined on the net income applicable to common shareholders of The Bank of New York Mellon Corporation reported on the income statement less earnings allocated to participating securities, and the change in the excess of redeemable value over the fair value of noncontrolling interests, if applicable.