EX-12 4 r2q02ex12.txt EX-12 EXHIBIT 12 THE BANK OF NEW YORK COMPANY, INC. Ratios of Earnings to Fixed Charges (Dollars in millions)
Three Months Ended Six Months Ended June 30, June 30, 2003 2002 2003 2002 ---- ---- ---- ---- EARNINGS -------- Income Before Income Taxes $ 451 $ 547 $ 903 $1,093 Fixed Charges, Excluding Interest on Deposits 73 101 125 198 ------ ------ ------ ------ Income Before Income Taxes and Fixed Charges Excluding Interest on Deposits 524 648 1,028 1,291 Interest on Deposits 138 158 284 318 ------ ------ ------ ------ Income Before Income Taxes and Fixed Charges, Including Interest on Deposits $ 662 $ 806 $1,312 $1,609 ====== ====== ====== ====== FIXED CHARGES ------------- Interest Expense, Excluding Interest on Deposits $ 59 $ 92 $ 101 $ 180 One-Third Net Rental Expense* 14 9 24 18 ------ ------ ------ ------ Total Fixed Charges, Excluding Interest on Deposits 73 101 125 198 Interest on Deposits 138 158 284 318 ------ ------ ------ ------ Total Fixed Charges, Including Interest on Deposits $ 211 $ 259 $ 409 $ 516 ====== ====== ====== ====== EARNINGS TO FIXED CHARGES RATIOS -------------------------------- Excluding Interest on Deposits 7.18x 6.42x 8.22x 6.52x Including Interest on Deposits 3.14 3.11 3.21 3.12 *The proportion deemed representative of the interest factor.