Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The Bank of New York Mellon Corporation
Legacy The Bank of New York Only | |||||||||||||||
| Quarter ended | Nine months ended (a) | ||||||||||||||
(dollar amounts in millions) | Sept. 30, 2007 | June 30, 2007 | Sept. 30, 2006 | Sept. 30, 2007 | Sept. 30, 2006 | ||||||||||
Earnings | |||||||||||||||
Income from continuing operations before income taxes | $ | 894 | $ | 658 | $ | 422 | $ | 2,197 | $ | 1,548 | |||||
Fixed charges, excluding interest on deposits | 367 | 240 | 228 | 818 | 643 | ||||||||||
Income from continuing operations before income taxes and fixed charges, excluding interest on deposits | 1,261 | 898 | 650 | 3,015 | 2,191 | ||||||||||
Interest on deposits | 772 | 487 | 391 | 1,659 | 1,037 | ||||||||||
Income from continuing operations before income taxes and fixed charges, including interest on deposits | $ | 2,033 | $ | 1,385 | $ | 1,041 | $ | 4,674 | $ | 3,228 | |||||
Fixed charges | |||||||||||||||
Interest expense, excluding interest on deposits | $ | 336 | $ | 223 | $ | 218 | $ | 753 | $ | 598 | |||||
One-third net rental expense(b) | 30 | 17 | 10 | 64 | 45 | ||||||||||
Total fixed charges, excluding interest on deposits | 366 | 240 | 228 | 817 | 643 | ||||||||||
Interest on deposits | 772 | 487 | 391 | 1,659 | 1,037 | ||||||||||
Total fixed charges, including interests on deposits | $ | 1,138 | $ | 727 | $ | 619 | $ | 2,476 | $ | 1,680 | |||||
Earnings to fixed charges ratios | |||||||||||||||
Excluding interest on deposits | 3.45 | 3.74 | 2.85 | 3.69 | 3.41 | ||||||||||
Including interest on deposits | 1.79 | 1.91 | 1.68 | 1.89 | 1.92 | ||||||||||
| (a) | Third quarter 2007 and year-to-date 2007 include three months of the combined company’s results, while results prior to July 1, 2007, include legacy The Bank of New York only. |
| (b) | The proportion deemed representative of the interest factor. |