EX-12.1 4 bk4q201510-kex121_4q15.htm COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK D Exhibit


Exhibit 12.1




COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
AND PREFERRED STOCK DIVIDENDS

The Bank of New York Mellon Corporation

 
Year ended Dec. 31,
(dollar amounts in millions)
2015

2014

2013

2012

2011

Earnings
 
 
 
 
 
Income before income taxes
$
4,235

$
3,563

$
3,777

$
3,357

$
3,685

Net (income) attributable to noncontrolling interests
(64
)
(84
)
(81
)
(78
)
(53
)
Income before income taxes attributable to shareholders of The Bank of New York Mellon Corporation
4,171

3,479

3,696

3,279

3,632

Fixed charges, excluding interest on deposits
373

380

349

484

480

Income from income taxes and fixed charges, excluding interest on deposits applicable to the shareholders of The Bank of New York Mellon Corporation
4,544

3,859

4,045

3,763

4,112

Interest on deposits
37

83

105

154

241

Income before income taxes and fixed charges, including interest on deposits applicable to shareholders of The Bank of New York Mellon Corporation
$
4,581

$
3,942

$
4,150

$
3,917

$
4,353

Fixed charges
 
 
 
 
 
Interest expense, excluding interest on deposits
$
263

$
271

$
238

$
380

$
363

One-third net rental expense (a)
110

109

111

104

117

Total fixed charges, excluding interest on deposits
373

380

349

484

480

Interest on deposits
37

83

105

154

241

Total fixed charges, including interests on deposits
$
410

$
463

$
454

$
638

$
721

Preferred stock dividends (b)
$
105

$
73

$
64

$
18

$
—

Total fixed charges and preferred stock dividends, excluding interest on deposits
$
478

$
453

$
413

$
502

$
480

Total fixed charges and preferred stock dividends, including interest on deposits
$
515

$
536

$
518

$
656

$
721

 
 
 
 
 
 
Earnings to fixed charges ratios
 
 
 
 
 
Excluding interest on deposits
12.18

10.16

11.59

7.77

8.57

Including interest on deposits
11.17

8.51

9.14

6.14

6.04

 
 
 
 
 
 
Earnings to fixed charges and preferred stock dividends ratios (b)
 
 
 
 
 
Excluding interest on deposits
9.51

8.52

9.79

7.50

8.57

Including interest on deposits
8.90

7.35

8.01

5.97

6.04

(a)
The proportion deemed representative of the interest factor.
(b)
Dividends were paid in 2015, 2014, 2013 and 2012 on the Series A and Series C preferred stock, which were issued in 2012. Dividends paid in 2015, 2014 and 2013 also include the Series D preferred stock, which was issued in 2013. Dividends paid in 2015 also include the Series E preferred stock, which was issued in 2015.