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 | Year-to-date | |||||||||||||||
(dollar amounts in millions) | June 30, 2017 | March 31, 2017 | June 30, 2016 | June 30, 2017 | June 30, 2016 | |||||||||||
Earnings | ||||||||||||||||
Income before income taxes | $ | 1,308 | $ | 1,206 | $ | 1,165 | $ | 2,514 | $ | 2,256 | ||||||
Net (income) loss attributable to noncontrolling interests | (1 | ) | (15 | ) | (2 | ) | (16 | ) | 7 | |||||||
Income before income taxes attributable to shareholders of The Bank of New York Mellon Corporation | 1,307 | 1,191 | 1,163 | 2,498 | 2,263 | |||||||||||
Fixed charges, excluding interest on deposits | 217 | 183 | 136 | 400 | 264 | |||||||||||
Income before income taxes and fixed charges, excluding interest on deposits applicable to the shareholders of The Bank of New York Mellon Corporation | 1,524 | 1,374 | 1,299 | 2,898 | 2,527 | |||||||||||
Interest on deposits | 32 | 9 | 12 | 41 | 27 | |||||||||||
Income before income taxes and fixed charges, including interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation | $ | 1,556 | $ | 1,383 | $ | 1,311 | $ | 2,939 | $ | 2,554 | ||||||
Fixed charges | ||||||||||||||||
Interest expense, excluding interest on deposits | $ | 194 | $ | 159 | $ | 111 | $ | 353 | $ | 213 | ||||||
One-third net rental expense (a) | 23 | 24 | 25 | 47 | 51 | |||||||||||
Total fixed charges, excluding interest on deposits | 217 | 183 | 136 | 400 | 264 | |||||||||||
Interest on deposits | 32 | 9 | 12 | 41 | 27 | |||||||||||
Total fixed charges, including interests on deposits | $ | 249 | $ | 192 | $ | 148 | $ | 441 | $ | 291 | ||||||
Preferred stock dividends | $ | 49 | $ | 42 | $ | 48 | $ | 91 | $ | 61 | ||||||
Total fixed charges and preferred stock dividends, excluding interest on deposits | $ | 266 | $ | 225 | $ | 184 | $ | 491 | $ | 325 | ||||||
Total fixed charges and preferred stock dividends, including interest on deposits | $ | 298 | $ | 234 | $ | 196 | $ | 532 | $ | 352 | ||||||
Earnings to fixed charges ratios | ||||||||||||||||
Excluding interest on deposits | 7.02 | 7.51 | 9.55 | 7.25 | 9.57 | |||||||||||
Including interest on deposits | 6.25 | 7.20 | 8.86 | 6.66 | 8.78 | |||||||||||
Earnings to fixed charges and preferred stock dividends ratios | ||||||||||||||||
Excluding interest on deposits | 5.73 | 6.11 | 7.06 | 5.90 | 7.78 | |||||||||||
Including interest on deposits | 5.22 | 5.91 | 6.69 | 5.52 | 7.26 |
(a) | The proportion deemed representative of the interest factor. |