EX-12 3 r2q04ex12.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, ------------------ ------------------ 2004 2003 2004 2003 -------- -------- -------- -------- EARNINGS -------- Income Before Income Taxes $ 565 $ 451 $ 1,038 $ 903 Fixed Charges, Excluding Interest on Deposits 70 74 138 127 -------- -------- -------- -------- Income Before Income Taxes and Fixed Charges, Excluding Interest on Deposits 635 525 1,176 1,030 Interest on Deposits 126 138 244 284 -------- -------- -------- -------- Income Before Income Taxes and Fixed Charges, Including Interest on Deposits $ 761 $ 663 $ 1,420 $ 1,314 ======== ======== ======== ======== FIXED CHARGES ------------- Interest Expense, Excluding Interest on Deposits $ 54 $ 60 $ 107 $ 103 One-Third Net Rental Expense* 16 14 31 24 -------- -------- -------- -------- Total Fixed Charges, Excluding Interest on Deposits 70 74 138 127 Interest on Deposits 126 138 244 284 -------- -------- -------- -------- Total Fixed Charges, Including Interest on Deposits $ 196 $ 212 $ 382 $ 411 ======== ======== ======== ======== EARNINGS TO FIXED CHARGES RATIOS -------------------------------- Excluding Interest on Deposits 9.07x 7.09x 8.52x 8.11x Including Interest on Deposits 3.88 3.13 3.72 3.20 *The proportion deemed representative of the interest factor.