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 | |||||||||
(dollars in millions) | March 31, 2018 | Dec. 31, 2017 | March 31, 2017 | ||||||
Earnings | |||||||||
Income before income taxes | $ | 1,444 | $ | 728 | $ | 1,206 | |||
Net loss (income) attributable to noncontrolling interests | 9 | (6 | ) | (15 | ) | ||||
Income before income taxes attributable to shareholders of The Bank of New York Mellon Corporation | 1,453 | 722 | 1,191 | ||||||
Fixed charges, excluding interest on deposits | 369 | 328 | 183 | ||||||
Income before income taxes and fixed charges, excluding interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation | 1,822 | 1,050 | 1,374 | ||||||
Interest on deposits | 117 | 64 | 9 | ||||||
Income before income taxes and fixed charges, including interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation | $ | 1,939 | $ | 1,114 | $ | 1,383 | |||
Fixed charges | |||||||||
Interest expense, excluding interest on deposits | $ | 345 | $ | 304 | $ | 159 | |||
One-third net rental expense (a) | 24 | 24 | 24 | ||||||
Total fixed charges, excluding interest on deposits | 369 | 328 | 183 | ||||||
Interest on deposits | 117 | 64 | 9 | ||||||
Total fixed charges, including interests on deposits | $ | 486 | $ | 392 | $ | 192 | |||
Preferred stock dividends | $ | 36 | $ | 49 | $ | 42 | |||
Total fixed charges and preferred stock dividends, excluding interest on deposits | $ | 405 | $ | 377 | $ | 225 | |||
Total fixed charges and preferred stock dividends, including interest on deposits | $ | 522 | $ | 441 | $ | 234 | |||
Earnings to fixed charges ratios | |||||||||
Excluding interest on deposits | 4.94 | 3.20 | 7.51 | ||||||
Including interest on deposits | 3.99 | 2.84 | 7.20 | ||||||
Earnings to fixed charges and preferred stock dividends ratios | |||||||||
Excluding interest on deposits | 4.50 | 2.79 | 6.11 | ||||||
Including interest on deposits | 3.71 | 2.53 | 5.91 |
(a) | The proportion deemed representative of the interest factor. |