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) | Sept. 30, 2017 | June 30, 2017 | Sept. 30, 2016 | Sept. 30, 2017 | Sept. 30, 2016 | |||||||||||
| Earnings | ||||||||||||||||
| Income before income taxes | $ | 1,368 | $ | 1,308 | $ | 1,317 | $ | 3,882 | $ | 3,573 | ||||||
| Net (income) loss attributable to noncontrolling interests | (2 | ) | (1 | ) | (6 | ) | (18 | ) | 1 | |||||||
| Income before income taxes attributable to shareholders of The Bank of New York Mellon Corporation | 1,366 | 1,307 | 1,311 | 3,864 | 3,574 | |||||||||||
| Fixed charges, excluding interest on deposits | 279 | 217 | 130 | 679 | 394 | |||||||||||
| Income before income taxes and fixed charges, excluding interest on deposits applicable to the shareholders of The Bank of New York Mellon Corporation | 1,645 | 1,524 | 1,441 | 4,543 | 3,968 | |||||||||||
| Interest on deposits | 57 | 32 | (6 | ) | 98 | 21 | ||||||||||
| Income before income taxes and fixed charges, including interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation | $ | 1,702 | $ | 1,556 | $ | 1,435 | $ | 4,641 | $ | 3,989 | ||||||
| Fixed charges | ||||||||||||||||
| Interest expense, excluding interest on deposits | $ | 255 | $ | 194 | $ | 106 | $ | 608 | $ | 319 | ||||||
One-third net rental expense (a) | 24 | 23 | 24 | 71 | 75 | |||||||||||
| Total fixed charges, excluding interest on deposits | 279 | 217 | 130 | 679 | 394 | |||||||||||
| Interest on deposits | 57 | 32 | (6 | ) | 98 | 21 | ||||||||||
| Total fixed charges, including interests on deposits | $ | 336 | $ | 249 | $ | 124 | $ | 777 | $ | 415 | ||||||
| Preferred stock dividends | $ | 35 | $ | 49 | $ | 13 | $ | 126 | $ | 74 | ||||||
| Total fixed charges and preferred stock dividends, excluding interest on deposits | $ | 314 | $ | 266 | $ | 143 | $ | 805 | $ | 468 | ||||||
| Total fixed charges and preferred stock dividends, including interest on deposits | $ | 371 | $ | 298 | $ | 137 | $ | 903 | $ | 489 | ||||||
| Earnings to fixed charges ratios | ||||||||||||||||
| Excluding interest on deposits | 5.90 | 7.02 | 11.08 | 6.69 | 10.07 | |||||||||||
| Including interest on deposits | 5.07 | 6.25 | 11.57 | 5.97 | 9.61 | |||||||||||
| Earnings to fixed charges and preferred stock dividends ratios | ||||||||||||||||
| Excluding interest on deposits | 5.24 | 5.73 | 10.08 | 5.64 | 8.48 | |||||||||||
| Including interest on deposits | 4.59 | 5.22 | 10.47 | 5.14 | 8.16 | |||||||||||
| (a) | The proportion deemed representative of the interest factor. |