EX-12.1 4 bkq3201410-qex121.htm COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK BK Q3 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
 
Year-to-date
(dollar amounts in millions)
Sept. 30, 2014

June 30,
2014

Sept. 30, 2013

 
Sept. 30, 2014

Sept. 30, 2013

Earnings
 
 
 
 
 
 
Income before income taxes (a)
$
1,662

$
811

$
1,002

 
$
3,399

$
3,049

Net (income) attributable to noncontrolling interests
(23
)
(17
)
(8
)
 
(60
)
(64
)
Income before income taxes attributable to shareholders of The Bank of New York Mellon Corporation (a)
1,639

794

994

 
3,339

2,985

Fixed charges, excluding interest on deposits
92

97

84

 
277

258

Income before income taxes and fixed charges, excluding interest on deposits applicable to the shareholders of The Bank of New York Mellon Corporation (a)
1,731

891

1,078

 
3,616

3,243

Interest on deposits
24

24

26

 
70

83

Income before income taxes and fixed charges, including interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation (a)
$
1,755

$
915

$
1,104

 
$
3,686

$
3,326

Fixed charges
 
 
 
 
 
 
Interest expense, excluding interest on deposits
$
64

$
68

$
57

 
$
194

$
175

One-third net rental expense (b)
28

29

27

 
83

83

Total fixed charges, excluding interest on deposits
92

97

84

 
277

258

Interest on deposits
24

24

26

 
70

83

Total fixed charges, including interests on deposits
$
116

$
121

$
110

 
$
347

$
341

Preferred stock dividends
$
13

$
23

$
13

 
$
49

$
38

 
 
 
 
 
 
 
Total fixed charges and preferred stock dividends, excluding interest on deposits
$
105

$
120

$
97

 
$
326

$
296

Total fixed charges and preferred stock dividends, including interest on deposits
$
129

$
144

$
123

 
$
396

$
379

 
 
 
 
 
 
 
Earnings to fixed charges ratios (a)
 
 
 
 
 
 
Excluding interest on deposits
18.82

9.19

12.83

 
13.05

12.57

Including interest on deposits
15.13

7.56

10.04

 
10.62

9.75

 
 
 
 
 
 
 
Earnings to fixed charges and preferred stock dividends ratios (a)
 
 
 
 
 
 
Excluding interest on deposits
16.49

7.43

11.11

 
11.09

10.96

Including interest on deposits
13.60

6.35

8.98

 
9.31

8.78

(a)
Results for the third quarter of 2013 and the first nine months of 2013 were restated to reflect the retrospective application of adopting new accounting guidance in the first quarter of 2014 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.