EX-12.2 6 dex122.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Prepared by R.R. Donnelley Financial -- Computation of Ratio of Earnings to Fixed Charges
Exhibit 12.2
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
Mellon Financial Corporation (and its subsidiaries)
 
    
Quarter ended
   
Six months ended
(dollar amounts in millions)
   
June 30, 2002
   
March 31, 2002
   
June 30, 2001
   
June 30, 2002
   
June 30, 2001
Income from continuing operations before income taxes
   
$
155
   
$
323
   
$
160
   
$
478
   
$
469
Fixed charges: interest expense (excluding interest on deposits), one-third of rental expense net of income from subleases, and amortization of debt issuance costs
   
 
88
   
 
86
   
 
122
   
 
174
   
 
255
Total earnings (as defined), excluding interest on deposits
   
 
243
   
 
409
   
 
282
   
 
652
   
 
724
Interest on deposits
   
 
48
   
 
43
   
 
98
   
 
91
   
 
207
Total earnings (as defined)
   
$
291
   
$
452
   
$
380
   
$
743
   
$
931
Ratio of earnings (as defined) to fixed charges:
                                   
Excluding interest on deposits
   
 
2.76
   
 
4.76
   
 
2.32
   
 
3.75
   
 
2.84
Including interest on deposits
   
 
2.14
   
 
3.51
   
 
1.73
   
 
2.80
   
 
2.01