EX-12.2 5 dex122.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of earnings to Fixed Charges
Exhibit 12.2
 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
 
Mellon Financial Corporation (and its subsidiaries)
    
Quarter ended
   
Nine months ended
(dollar amounts in millions)
   
Sept. 30, 2002
   
June 30, 2002
   
Sept. 30, 2001
   
Sept. 30, 2002
   
Sept. 30, 2001
Income from continuing operations before
income taxes
   
$
282
   
$
155
   
$
277
   
$
760
   
$
746
Fixed charges: interest expense (excluding interest
on deposits), one-third of rental expense net of
income from subleases, and amortization of debt
issuance costs
   
 
82
   
 
88
   
 
97
   
 
256
   
 
352
Total earnings (as defined), excluding
interest on deposits
   
 
364
   
 
243
   
 
374
   
 
1,016
   
 
1,098
Interest on deposits
   
 
43
   
 
48
   
 
131
   
 
134
   
 
338
Total earnings (as defined)
   
$
407
   
$
291
   
$
505
   
$
1,150
   
$
1,436
Ratio of earnings (as defined) to fixed charges:
                                   
Excluding interest on deposits
   
 
4.44
   
 
2.76
   
 
3.86
   
 
3.97
   
 
3.12
Including interest on deposits
   
 
3.26
   
 
2.14
   
 
2.21
   
 
2.95
   
 
2.08