EX-12.1 2 bkq1201410-qex121.htm COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK BK Q1 2014 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
(dollar amounts in millions)
 
March 31,
2014

 
Dec. 31, 2013

 
March 31,
2013

Earnings
 
 
 
 
 
 
Income before income taxes (a)
 
$
926

 
$
728

 
$
825

Net (income) attributable to noncontrolling interests
 
(20
)
 
(17
)
 
(16
)
Income before income taxes attributable to shareholders of The Bank of New York Mellon Corporation (a)
 
906

 
711

 
809

Fixed charges, excluding interest on deposits
 
88

 
91

 
94

Income before income taxes and fixed charges, excluding interest on deposits applicable to the shareholders of The Bank of New York Mellon Corporation (a)
 
994

 
802

 
903

Interest on deposits
 
22

 
22

 
30

Income before income taxes and fixed charges, including interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation (a)
 
$
1,016

 
$
824

 
$
933

Fixed charges
 
 
 
 
 
 
Interest expense, excluding interest on deposits
 
$
62

 
$
63

 
$
66

One-third net rental expense (b)
 
26

 
28

 
28

Total fixed charges, excluding interest on deposits
 
88

 
91

 
94

Interest on deposits
 
22

 
22

 
30

Total fixed charges, including interests on deposits
 
$
110

 
$
113

 
$
124

Preferred stock dividends
 
$
13

 
$
26

 
$
13

 
 
 
 
 
 
 
Total fixed charges and preferred stock dividends, excluding interest on deposits
 
$
101

 
$
117

 
$
107

Total fixed charges and preferred stock dividends, including interest on deposits
 
$
123

 
$
139

 
$
137

 
 
 
 
 
 
 
Earnings to fixed charges ratios (a)
 
 
 
 
 
 
Excluding interest on deposits
 
11.30

 
8.81

 
9.61

Including interest on deposits
 
9.24

 
7.29

 
7.52

 
 
 
 
 
 
 
Earnings to fixed charges and preferred stock dividends ratios (a)
 
 
 
 
 
 
Excluding interest on deposits
 
9.84

 
6.85

 
8.44

Including interest on deposits
 
8.26

 
5.93

 
6.81

(a)
Prior periods were restated to reflect the retrospective application of adopting new accounting guidance related to our investments in qualified affordable housing projects (ASU 2014-01). See Note 2 of the Notes to Consolidated Financial Statements for additional information.
(b)
The proportion deemed representative of the interest factor.