Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The Bank of New York Mellon Corporation
Quarter ended | Six months ended | ||||||||||||||
(dollar amounts in millions) | June 30, 2008 | March 31, 2008 | June 30, 2007(a) | June 30, 2008 | June 30, 2007(a) | ||||||||||
Earnings | |||||||||||||||
Income from continuing operations before income taxes | $ | 614 | $ | 1,110 | $ | 658 | $ | 1,724 | $ | 1,303 | |||||
Fixed charges, excluding interest on deposits | 233 | 303 | 240 | 536 | 451 | ||||||||||
Income from continuing operations before income taxes and fixed charges, excluding interest on deposits | 847 | 1,413 | 898 | 2,260 | 1,754 | ||||||||||
Interest on deposits | 477 | 615 | 487 | 1,092 | 887 | ||||||||||
Income from continuing operations before income taxes and fixed charges including interest on deposits | $ | 1,324 | $ | 2,028 | $ | 1,385 | $ | 3,352 | $ | 2,641 | |||||
Fixed charges | |||||||||||||||
Interest expense, excluding interest on deposits | $ | 204 | $ | 274 | $ | 223 | $ | 478 | $ | 417 | |||||
One-third net rental expense(b) | 29 | 29 | 17 | 58 | 34 | ||||||||||
Total fixed charges, excluding interest on deposits | 233 | 303 | 240 | 536 | 451 | ||||||||||
Interest on deposits | 477 | 615 | 487 | 1,092 | 887 | ||||||||||
Total fixed charges, including interests on deposits | $ | 710 | $ | 918 | $ | 727 | $ | 1,628 | $ | 1,338 | |||||
Earnings to fixed charges ratios | |||||||||||||||
Excluding interest on deposits | 3.64 | 4.67 | 3.74 | 4.22 | 3.89 | ||||||||||
Including interest on deposits | 1.86 | 2.21 | 1.91 | 2.06 | 1.97 |
(a) | Legacy The Bank of New York only. |
(b) | The proportion deemed representative of the interest factor. |