EX-12 4 r3q03ex12.txt EX-12 EXHIBIT 12 THE BANK OF NEW YORK COMPANY, INC. Ratios of Earnings to Fixed Charges (Dollars in millions)
Three Months Ended Nine Months Ended September 30, September 30, 2003 2002 2003 2002 ---- ---- ---- ---- EARNINGS -------- Income Before Income Taxes $ 391 $ 123 $1,293 $1,216 Fixed Charges, Excluding Interest on Deposits 69 82 196 278 ------ ------ ------ ------ Income Before Income Taxes and Fixed Charges Excluding Interest on Deposits 460 205 1,489 1,494 Interest on Deposits 113 165 397 484 ------ ------ ------ ------ Income Before Income Taxes and Fixed Charges, Including Interest on Deposits $ 573 $ 370 $1,886 $1,978 ====== ====== ====== ====== FIXED CHARGES ------------- Interest Expense, Excluding Interest on Deposits $ 55 $ 66 $ 158 $ 244 One-Third Net Rental Expense* 14 16 38 34 ------ ------ ------ ------ Total Fixed Charges, Excluding Interest on Deposits 69 82 196 278 Interest on Deposits 113 165 397 484 ------ ------ ------ ------ Total Fixed Charges, Including Interest on Deposits $ 182 $ 247 $ 593 $ 762 ====== ====== ====== ====== EARNINGS TO FIXED CHARGES RATIOS -------------------------------- Excluding Interest on Deposits 6.67x 2.50x 7.60x 5.37x Including Interest on Deposits 3.15 1.50 3.18 2.60 *The proportion deemed representative of the interest factor.