EX-12.1 2 form10-q_ex121x1q18.htm COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK Exhibit


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.