Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS
The Bank of New York Mellon Corporation
Quarter ended | |||||||||
(dollar amounts in millions) | March 31, 2015 | Dec. 31, 2014 | March 31, 2014 | ||||||
Earnings | |||||||||
Income before income taxes | $ | 1,149 | $ | 164 | $ | 926 | |||
Net (income) attributable to noncontrolling interests | (90 | ) | (24 | ) | (20 | ) | |||
Income before income taxes attributable to shareholders of The Bank of New York Mellon Corporation | 1,059 | 140 | 906 | ||||||
Fixed charges, excluding interest on deposits | 92 | 103 | 88 | ||||||
Income before income taxes and fixed charges, excluding interest on deposits applicable to the shareholders of The Bank of New York Mellon Corporation | 1,151 | 243 | 994 | ||||||
Interest on deposits | 15 | 13 | 22 | ||||||
Income before income taxes and fixed charges, including interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation | $ | 1,166 | $ | 256 | $ | 1,016 | |||
Fixed charges | |||||||||
Interest expense, excluding interest on deposits | $ | 64 | $ | 77 | $ | 62 | |||
One-third net rental expense (a) | 28 | 26 | 26 | ||||||
Total fixed charges, excluding interest on deposits | 92 | 103 | 88 | ||||||
Interest on deposits | 15 | 13 | 22 | ||||||
Total fixed charges, including interests on deposits | $ | 107 | $ | 116 | $ | 110 | |||
Preferred stock dividends | $ | 13 | $ | 24 | $ | 13 | |||
Total fixed charges and preferred stock dividends, excluding interest on deposits | $ | 105 | $ | 127 | $ | 101 | |||
Total fixed charges and preferred stock dividends, including interest on deposits | $ | 120 | $ | 140 | $ | 123 | |||
Earnings to fixed charges ratios | |||||||||
Excluding interest on deposits | 12.51 | 2.36 | 11.30 | ||||||
Including interest on deposits | 10.90 | 2.21 | 9.24 | ||||||
Earnings to fixed charges and preferred stock dividends ratios | |||||||||
Excluding interest on deposits | 10.96 | 1.91 | 9.84 | ||||||
Including interest on deposits | 9.72 | 1.83 | 8.26 |
(a) | The proportion deemed representative of the interest factor. |