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, 2017 | Dec. 31, 2016 | March 31, 2016 | ||||||
Earnings | |||||||||
Income before income taxes | $ | 1,206 | $ | 1,152 | $ | 1,091 | |||
Net (income) loss attributable to noncontrolling interests | (15 | ) | (2 | ) | 9 | ||||
Income before income taxes attributable to shareholders of The Bank of New York Mellon Corporation | 1,191 | 1,150 | 1,100 | ||||||
Fixed charges, excluding interest on deposits | 183 | 127 | 128 | ||||||
Income before income taxes and fixed charges, excluding interest on deposits applicable to the shareholders of The Bank of New York Mellon Corporation | 1,374 | 1,277 | 1,228 | ||||||
Interest on deposits | 9 | (5 | ) | 15 | |||||
Income before income taxes and fixed charges, including interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation | $ | 1,383 | $ | 1,272 | $ | 1,243 | |||
Fixed charges | |||||||||
Interest expense, excluding interest on deposits | $ | 159 | $ | 102 | $ | 102 | |||
One-third net rental expense (a) | 24 | 25 | 26 | ||||||
Total fixed charges, excluding interest on deposits | 183 | 127 | 128 | ||||||
Interest on deposits | 9 | (5 | ) | 15 | |||||
Total fixed charges, including interests on deposits | $ | 192 | $ | 122 | $ | 143 | |||
Preferred stock dividends | $ | 42 | $ | 48 | $ | 13 | |||
Total fixed charges and preferred stock dividends, excluding interest on deposits | $ | 225 | $ | 175 | $ | 141 | |||
Total fixed charges and preferred stock dividends, including interest on deposits | $ | 234 | $ | 170 | $ | 156 | |||
Earnings to fixed charges ratios | |||||||||
Excluding interest on deposits | 7.51 | 10.06 | 9.59 | ||||||
Including interest on deposits | 7.20 | 10.43 | 8.69 | ||||||
Earnings to fixed charges and preferred stock dividends ratios | |||||||||
Excluding interest on deposits | 6.11 | 7.30 | 8.71 | ||||||
Including interest on deposits | 5.91 | 7.48 | 7.97 |
(a) | The proportion deemed representative of the interest factor. |