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, 2014 | June 30, 2014 | Sept. 30, 2013 | Sept. 30, 2014 | Sept. 30, 2013 | |||||||||||
| Earnings | ||||||||||||||||
Income before income taxes (a) | $ | 1,662 | $ | 811 | $ | 1,002 | $ | 3,399 | $ | 3,049 | ||||||
| Net (income) attributable to noncontrolling interests | (23 | ) | (17 | ) | (8 | ) | (60 | ) | (64 | ) | ||||||
Income before income taxes attributable to shareholders of The Bank of New York Mellon Corporation (a) | 1,639 | 794 | 994 | 3,339 | 2,985 | |||||||||||
| Fixed charges, excluding interest on deposits | 92 | 97 | 84 | 277 | 258 | |||||||||||
Income before income taxes and fixed charges, excluding interest on deposits applicable to the shareholders of The Bank of New York Mellon Corporation (a) | 1,731 | 891 | 1,078 | 3,616 | 3,243 | |||||||||||
| Interest on deposits | 24 | 24 | 26 | 70 | 83 | |||||||||||
Income before income taxes and fixed charges, including interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation (a) | $ | 1,755 | $ | 915 | $ | 1,104 | $ | 3,686 | $ | 3,326 | ||||||
| Fixed charges | ||||||||||||||||
| Interest expense, excluding interest on deposits | $ | 64 | $ | 68 | $ | 57 | $ | 194 | $ | 175 | ||||||
One-third net rental expense (b) | 28 | 29 | 27 | 83 | 83 | |||||||||||
| Total fixed charges, excluding interest on deposits | 92 | 97 | 84 | 277 | 258 | |||||||||||
| Interest on deposits | 24 | 24 | 26 | 70 | 83 | |||||||||||
| Total fixed charges, including interests on deposits | $ | 116 | $ | 121 | $ | 110 | $ | 347 | $ | 341 | ||||||
| Preferred stock dividends | $ | 13 | $ | 23 | $ | 13 | $ | 49 | $ | 38 | ||||||
| Total fixed charges and preferred stock dividends, excluding interest on deposits | $ | 105 | $ | 120 | $ | 97 | $ | 326 | $ | 296 | ||||||
| Total fixed charges and preferred stock dividends, including interest on deposits | $ | 129 | $ | 144 | $ | 123 | $ | 396 | $ | 379 | ||||||
Earnings to fixed charges ratios (a) | ||||||||||||||||
| Excluding interest on deposits | 18.82 | 9.19 | 12.83 | 13.05 | 12.57 | |||||||||||
| Including interest on deposits | 15.13 | 7.56 | 10.04 | 10.62 | 9.75 | |||||||||||
Earnings to fixed charges and preferred stock dividends ratios (a) | ||||||||||||||||
| Excluding interest on deposits | 16.49 | 7.43 | 11.11 | 11.09 | 10.96 | |||||||||||
| Including interest on deposits | 13.60 | 6.35 | 8.98 | 9.31 | 8.78 | |||||||||||
| (a) | Results for the third quarter of 2013 and the first nine months of 2013 were restated to reflect the retrospective application of adopting new accounting guidance in the first quarter of 2014 related to our investments in qualified affordable housing projects (ASU 2014-01). See Note 2 of the Notes to Consolidated Financial Statements for additional information. |
| (b) | The proportion deemed representative of the interest factor. |