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) | 2011 | 2010 | 2009 | 2008 | 2007 (a) | |||||||||||||||
Earnings | ||||||||||||||||||||
Income (loss) from continuing operations before income taxes | $ | 3,617 | $ | 3,694 | $(2,208) | $ | 1,946 | $ | 3,215 | |||||||||||
Fixed charges, excluding interest on deposits | 480 | 519 | 530 | 1,024 | 1,140 | |||||||||||||||
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Income (loss) from continuing operations before income taxes and fixed charges, excluding interest on deposits | 4,097 | 4,213 | (1,678) | 2,970 | 4,355 | |||||||||||||||
Interest on deposits | 241 | 131 | 172 | 1,762 | 2,366 | |||||||||||||||
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Income (loss) from continuing operations before income taxes and fixed charges, including interest on deposits | $ | 4,338 | $ | 4,344 | $(1,506) | $ | 4,732 | $ | 6,721 | |||||||||||
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Fixed charges | ||||||||||||||||||||
Interest expense, excluding interest on deposits | 363 | $ | 414 | $421 | $ | 900 | $ | 1,047 | ||||||||||||
One-third net rental expense(b) | 117 | 105 | 109 | 124 | 93 | |||||||||||||||
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Total fixed charges, excluding interest on deposits | 480 | 519 | 530 | 1,024 | 1,140 | |||||||||||||||
Interest on deposits | 241 | 131 | 172 | 1,762 | 2,366 | |||||||||||||||
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Total fixed charges, including interest on deposits | $ | 721 | $ | 650 | $702 | $ | 2,786 | $ | 3,506 | |||||||||||
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Earnings to fixed charges ratios | ||||||||||||||||||||
Excluding interest on deposits | 8.53 | 8.11 | (3.16) (c) | 2.90 | 3.82 | |||||||||||||||
Including interest on deposits | 6.01 | 6.68 | (2.14) (c) | 1.70 | 1.92 |
(a) | Results for 2007 include six months of BNY Mellon and six months of legacy The Bank of New York Company, Inc. |
(b) | The proportion deemed representative of the interest factor. |
(c) | Earnings were insufficient to cover fixed charges by $2,208 million. |