Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The Bank of New York Mellon Corporation
| Year ended Dec. 31, |
| |||||||||||||||||
(dollar amounts in millions) | 2009 | 2008 | 2007 | (a) | 2006 | (b) | 2005 | (b) | |||||||||||
Earnings | |||||||||||||||||||
Income from continuing operations before income taxes | $ | (2,208 | ) | $ | 1,946 | $ | 3,215 | $ | 2,170 | $ | 1,978 | ||||||||
Fixed charges, excluding interest on deposits | 530 | 1,024 | 1,140 | 867 | 550 | ||||||||||||||
Income from continuing operations before income taxes and fixed charges, excluding interest on deposits | (1,678 | ) | 2,970 | 4,355 | 3,037 | 2,528 | |||||||||||||
Interest on deposits | 171 | 1,765 | 2,378 | 1,434 | 839 | ||||||||||||||
Income from continuing operations before income taxes and fixed charges, including interest on deposits | $ | (1,507 | ) | $ | 4,735 | $ | 6,733 | $ | 4,471 | $ | 3,367 | ||||||||
Fixed charges | |||||||||||||||||||
Interest expense, excluding interest on deposits | $ | 421 | $ | 900 | $ | 1,047 | $ | 807 | $ | 490 | |||||||||
One-third net rental expense(c) | 109 | 120 | 92 | 60 | 60 | ||||||||||||||
Total fixed charges, excluding interest on deposits | 530 | 1,020 | 1,139 | 867 | 550 | ||||||||||||||
Interest on deposits | 171 | 1,765 | 2,378 | 1,434 | 839 | ||||||||||||||
Total fixed charges, including interests on deposits | $ | 701 | $ | 2,785 | $ | 3,517 | $ | 2,301 | $ | 1,389 | |||||||||
Earnings to fixed charges ratios | |||||||||||||||||||
Excluding interest on deposits | (3.16 | ) | 2.91 | 3.82 | 3.50 | 4.60 | |||||||||||||
Including interest on deposits | (2.15 | ) | 1.70 | 1.91 | 1.94 | 2.42 |
(a) | Results for 2007 include six months of BNY Mellon and six months of legacy The Bank of New York Company, Inc. |
(b) | Results for 2006 and 2005 include legacy The Bank of New York Company, Inc. only. |
(c) | The proportion deemed representative of the interest factor. |