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 | ||||||||||||||||||
| Year ended Dec. 31, | ||||||||||||||||||
(dollar amounts in millions) | 2008 | 2007 | (a) | 2006 | 2005 | 2004 | ||||||||||||
Earnings | ||||||||||||||||||
Income from continuing operations before income taxes | $ | 1,939 | $ | 3,225 | $ | 2,170 | $ | 1,978 | $ | 1,840 | ||||||||
Fixed charges, excluding interest on deposits | 1,033 | 1,154 | 867 | 550 | 314 | |||||||||||||
Income from continuing operations before income taxes and fixed charges, excluding interest on deposits | 2,972 | 4,379 | 3,037 | 2,528 | 2,154 | |||||||||||||
Interest on deposits | 1,776 | 2,389 | 1,434 | 839 | 470 | |||||||||||||
Income from continuing operations before income taxes and fixed charges, including interest on deposits | $ | 4,748 | $ | 6,768 | $ | 4,471 | $ | 3,367 | $ | 2,624 | ||||||||
Fixed charges | ||||||||||||||||||
Interest expense, excluding interest on deposits | $ | 911 | $ | 1,062 | $ | 807 | $ | 490 | $ | 260 | ||||||||
One-third net rental expense (b) | 122 | 92 | 60 | 60 | 54 | |||||||||||||
Total fixed charges, excluding interest on deposits | 1,033 | 1,154 | 867 | 550 | 314 | |||||||||||||
Interest on deposits | 1,776 | 2,389 | 1,434 | 839 | 470 | |||||||||||||
Total fixed charges, including interests on deposits | $ | 2,809 | $ | 3,543 | $ | 2,301 | $ | 1,389 | $ | 784 | ||||||||
Earnings to fixed charges ratios | ||||||||||||||||||
Excluding interest on deposits | 2.88 | 3.79 | 3.50 | 4.60 | 6.86 | |||||||||||||
Including interest on deposits | 1.69 | 1.91 | 1.94 | 2.42 | 3.35 | |||||||||||||
| (a) | Results for 2007 include six months of The Bank of New York Mellon Corporation’s and six months of legacy The Bank of New YorkCompany, Inc. |
| (b) | The proportion deemed representative of the interest factor. |