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 | |||||||||||||||
(dollars in millions) | June 30, 2018 | March 31, 2018 | June 30, 2017 | June 30, 2018 | June 30, 2017 | |||||||||||
Earnings | ||||||||||||||||
Income before income taxes | $ | 1,394 | $ | 1,444 | $ | 1,308 | $ | 2,838 | $ | 2,514 | ||||||
Net (income) loss attributable to noncontrolling interests | (5 | ) | 9 | (1 | ) | 4 | (16 | ) | ||||||||
Income before income taxes attributable to shareholders of The Bank of New York Mellon Corporation | 1,389 | 1,453 | 1,307 | 2,842 | 2,498 | |||||||||||
Fixed charges, excluding interest on deposits | 489 | 369 | 217 | 858 | 400 | |||||||||||
Income before income taxes and fixed charges, excluding interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation | 1,878 | 1,822 | 1,524 | 3,700 | 2,898 | |||||||||||
Interest on deposits | 173 | 117 | 32 | 290 | 41 | |||||||||||
Income before income taxes and fixed charges, including interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation | $ | 2,051 | $ | 1,939 | $ | 1,556 | $ | 3,990 | $ | 2,939 | ||||||
Fixed charges | ||||||||||||||||
Interest expense, excluding interest on deposits | $ | 464 | $ | 345 | $ | 194 | $ | 809 | $ | 353 | ||||||
One-third net rental expense (a) | 25 | 24 | 23 | 49 | 47 | |||||||||||
Total fixed charges, excluding interest on deposits | 489 | 369 | 217 | 858 | 400 | |||||||||||
Interest on deposits | 173 | 117 | 32 | 290 | 41 | |||||||||||
Total fixed charges, including interests on deposits | $ | 662 | $ | 486 | $ | 249 | $ | 1,148 | $ | 441 | ||||||
Preferred stock dividends | $ | 48 | $ | 36 | $ | 49 | $ | 84 | $ | 91 | ||||||
Total fixed charges and preferred stock dividends, excluding interest on deposits | $ | 537 | $ | 405 | $ | 266 | $ | 942 | $ | 491 | ||||||
Total fixed charges and preferred stock dividends, including interest on deposits | $ | 710 | $ | 522 | $ | 298 | $ | 1,232 | $ | 532 | ||||||
Earnings to fixed charges ratios | ||||||||||||||||
Excluding interest on deposits | 3.84 | 4.94 | 7.02 | 4.31 | 7.25 | |||||||||||
Including interest on deposits | 3.10 | 3.99 | 6.25 | 3.48 | 6.66 | |||||||||||
Earnings to fixed charges and preferred stock dividends ratios | ||||||||||||||||
Excluding interest on deposits | 3.50 | 4.50 | 5.73 | 3.93 | 5.90 | |||||||||||
Including interest on deposits | 2.89 | 3.71 | 5.22 | 3.24 | 5.52 |
(a) | The proportion deemed representative of the interest factor. |