EX-12 5 r3q04ex12.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, ------------------------------------ ------------------ ------------------ 2004 2003 2004 2003 -------- -------- -------- -------- EARNINGS -------- Income Before Income Taxes $ 539 $ 391 $ 1,576 $ 1,293 Fixed Charges, Excluding Interest on Deposits 79 69 218 196 -------- -------- -------- -------- Income Before Income Taxes and Fixed Charges Excluding Interest on Deposits 618 460 1,794 1,489 Interest on Deposits 139 113 384 397 -------- -------- -------- -------- Income Before Income Taxes and Fixed Charges, Including Interest on Deposits $ 757 $ 573 $ 2,178 $ 1,886 ======== ======== ======== ======== FIXED CHARGES ------------- Interest Expense, Excluding Interest on Deposits $ 62 $ 55 $ 170 $ 158 One-Third Net Rental Expense* 17 14 48 38 -------- -------- -------- -------- Total Fixed Charges, Excluding Interest on Deposits 79 69 218 196 Interest on Deposits 139 113 384 397 -------- -------- -------- -------- Total Fixed Charges, Including Interest on Deposits $ 218 $ 182 $ 602 $ 593 ======== ======== ======== ======== EARNINGS TO FIXED CHARGES RATIOS -------------------------------- Excluding Interest on Deposits 7.82x 6.67x 8.23x 7.60x Including Interest on Deposits 3.47 3.15 3.62 3.18 *The proportion deemed representative of the interest factor.