Exhibit 12.1
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDEND
The Bank of New York Mellon Corporation
Quarter ended | ||||||||||||
(dollar amounts in millions) | March 31, 2013 | Dec. 31, 2012 | March 31, 2012 | |||||||||
Earnings | ||||||||||||
Income before income taxes | $ | 809 | $ | 853 | $ | 885 | ||||||
Net (income) attributable to noncontrolling interests | (16 | ) | (11 | ) | (12 | ) | ||||||
Income before income taxes attributable to shareholders of The Bank of New York Mellon Corporation | 793 | 842 | 873 | |||||||||
Fixed charges, excluding interest on deposits | 94 | 112 | 131 | |||||||||
Income before income taxes and fixed charges, excluding interest on deposits applicable to the shareholders of The Bank of New York Mellon Corporation | 887 | 954 | 1,004 | |||||||||
Interest on deposits | 30 | 32 | 43 | |||||||||
Income before income taxes and fixed charges, including interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation | $ | 917 | $ | 986 | $ | 1,047 | ||||||
Fixed charges | ||||||||||||
Interest expense, excluding interest on deposits | $ | 66 | $ | 86 | $ | 104 | ||||||
One-third net rental expense (a) | 28 | 26 | 27 | |||||||||
Total fixed charges, excluding interest on deposits | 94 | 112 | 131 | |||||||||
Interest on deposits | 30 | 32 | 43 | |||||||||
Total fixed charges, including interests on deposits | $ | 124 | $ | 144 | $ | 174 | ||||||
Preferred stock dividends | $ | 13 | $ | 13 | $ | — | ||||||
Total fixed charges and preferred stock dividends, excluding interest on deposits | $ | 107 | $ | 125 | $ | 131 | ||||||
Total fixed charges and preferred stock dividends, including interest on deposits | $ | 137 | $ | 157 | $ | 174 | ||||||
Earnings to fixed charges ratios | ||||||||||||
Excluding interest on deposits | 9.44 | 8.52 | 7.66 | |||||||||
Including interest on deposits | 7.40 | 6.85 | 6.02 | |||||||||
Earnings to fixed charges and preferred stock dividends ratios | ||||||||||||
Excluding interest on deposits | 8.29 | 7.63 | 7.66 | |||||||||
Including interest on deposits | 6.69 | 6.28 | 6.02 |
(a) | The proportion deemed representative of the interest factor. |