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) | 2010 | 2009 | 2008 | 2007 (a) | 2006 (b) | |||||||||||||||
Earnings | ||||||||||||||||||||
Income from continuing operations before income taxes | $ | 3,694 | $ | (2,208 | ) | $ | 1,946 | $ | 3,215 | $ | 2,183 | |||||||||
Fixed charges, excluding interest on deposits | 519 | 530 | 1,024 | 1,140 | 867 | |||||||||||||||
Income from continuing operations before income taxes and fixed charges, excluding interest on deposits | 4,213 | (1,678 | ) | 2,970 | 4,355 | 3,050 | ||||||||||||||
Interest on deposits | 194 | 171 | 1,765 | 2,378 | 1,434 | |||||||||||||||
Income from continuing operations before income taxes and fixed charges, including interest on deposits | $ | 4,407 | $ | (1,507 | ) | $ | 4,735 | $ | 6,733 | $ | 4,484 | |||||||||
Fixed charges | ||||||||||||||||||||
Interest expense, excluding interest on deposits | $ | 414 | $ | 421 | $ | 900 | $ | 1,047 | $ | 807 | ||||||||||
One-third net rental expense(c) | 105 | 109 | 120 | 92 | 60 | |||||||||||||||
Total fixed charges, excluding interest on deposits | 519 | 530 | 1,020 | 1,139 | 867 | |||||||||||||||
Interest on deposits | 194 | 171 | 1,765 | 2,378 | 1,434 | |||||||||||||||
Total fixed charges, including interest on deposits | $ | 713 | $ | 701 | $ | 2,785 | $ | 3,517 | $ | 2,301 | ||||||||||
Earnings to fixed charges ratios | ||||||||||||||||||||
Excluding interest on deposits | 8.11 | (3.16 | ) | 2.91 | 3.82 | 3.52 | ||||||||||||||
Including interest on deposits | 6.18 | (2.15 | ) | 1.70 | 1.91 | 1.95 |
(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 include legacy The Bank of New York Company, Inc. only. |
(c) | The proportion deemed representative of the interest factor. |