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Bank of New York Mellon Corp – ‘10-K’ for 12/31/16 – ‘R32’

On:  Tuesday, 2/28/17, at 7:59am ET   ·   For:  12/31/16   ·   Accession #:  1390777-17-65   ·   File #:  1-35651

Previous ‘10-K’:  ‘10-K’ on 2/26/16 for 12/31/15   ·   Next:  ‘10-K’ on 2/28/18 for 12/31/17   ·   Latest:  ‘10-K’ on 2/28/24 for 12/31/23   ·   1 Reference:  By:  Bank of New York Mellon Corp. – ‘424B2’ on 11/8/21

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/28/17  Bank of New York Mellon Corp      10-K       12/31/16  172:44M

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML    280K 
 3: EX-13.1     All Portions of 2016 Annual Report to Shareholders  HTML   3.83M 
 5: EX-21.1     Primary Subsidiaries of the Company                 HTML     60K 
 6: EX-23.1     Consent of Kpmg LLP                                 HTML     53K 
 7: EX-24.1     Power of Attorney                                   HTML     58K 
 2: EX-12.1     Computation of Ratio of Earnings to Combined Fixed  HTML     72K 
                Charges and Preferred Stock D                                    
 4: EX-18.1     Preferability Letter From Kpmg LLP for Change in    HTML     50K 
                Accounting Principle                                             
 8: EX-31.1     Section 302 CEO Certification                       HTML     55K 
 9: EX-31.2     Section 302 CFO Certification                       HTML     55K 
10: EX-32.1     Section 906 CEO Certification                       HTML     49K 
11: EX-32.2     Section 906 CFO Certification                       HTML     49K 
18: R1          Document and Entity Information                     HTML     77K 
19: R2          Consolidated Income Statement                       HTML    190K 
20: R3          Consolidated Income Statement (Unaudited)           HTML     51K 
                (Parenthetical)                                                  
21: R4          Consolidated Comprehensive Income Statement         HTML    103K 
22: R5          Consolidated Comprehensive Income Statement         HTML     51K 
                (Parenthetical)                                                  
23: R6          Consolidated Balance Sheet                          HTML    186K 
24: R7          Consolidated Balance Sheet (Parenthetical)          HTML     76K 
25: R8          Consolidated Statement of Cash Flows                HTML    201K 
26: R9          Consolidated Statement of Changes in Equity         HTML    129K 
27: R10         Consolidated Statement of Changes in Equity         HTML     54K 
                (Parenthetical)                                                  
28: R11         Summary of significant accounting and reporting     HTML    146K 
                policies                                                         
29: R12         Acquisitions and dispositions                       HTML     59K 
30: R13         Securities                                          HTML    625K 
31: R14         Loans and asset quality                             HTML    520K 
32: R15         Goodwill and intangible assets                      HTML    177K 
33: R16         Other assets                                        HTML     99K 
34: R17         Deposits                                            HTML     53K 
35: R18         Net interest revenue                                HTML     90K 
36: R19         Noninterest Expense                                 HTML     82K 
37: R20         Income taxes                                        HTML    140K 
38: R21         Long-Term Debt                                      HTML    109K 
39: R22         Securitizations and variable interest entities      HTML    112K 
40: R23         Shareholders' equity                                HTML    108K 
41: R24         Other comprehensive income (Loss)                   HTML    188K 
42: R25         Stock-based compensation                            HTML    119K 
43: R26         Employee benefit plans                              HTML    583K 
44: R27         Company Financial Information                       HTML    178K 
45: R28         Fair value measurement                              HTML    796K 
46: R29         Fair value option                                   HTML     82K 
47: R30         Commitments and contingent liabilities              HTML    133K 
48: R31         Derivative instruments                              HTML    475K 
49: R32         Lines of business                                   HTML    177K 
50: R33         International Operations                            HTML    114K 
51: R34         Supplemental information to the Consolidated        HTML     68K 
                Statement of Cash Flows                                          
52: R35         Summary of significant accounting and reporting     HTML    244K 
                policies (Policies)                                              
53: R36         Summary of significant accounting and reporting     HTML     59K 
                policies Summary of significant accounting and                   
                reporting policies (Tables)                                      
54: R37         Securities (Tables)                                 HTML    621K 
55: R38         Loans and asset quality (Tables)                    HTML    516K 
56: R39         Goodwill and intangible assets (Tables)             HTML    172K 
57: R40         Other assets (Tables)                               HTML     94K 
58: R41         Net interest revenue (Tables)                       HTML     90K 
59: R42         Noninterest Expense (Tables)                        HTML     82K 
60: R43         Income Taxes (Tables)                               HTML    142K 
61: R44         Long-Term Debt (Tables)                             HTML    109K 
62: R45         Securitizations and variable interest entities      HTML    115K 
                (Tables)                                                         
63: R46         Shareholders' equity (Tables)                       HTML    160K 
64: R47         Other comprehensive income (Loss) (Tables)          HTML    185K 
65: R48         Stock-based compensation (Tables)                   HTML    106K 
66: R49         Employee benefit plans (Tables)                     HTML    573K 
67: R50         Company Financial Information (Tables)              HTML    165K 
68: R51         Fair value measurement (Tables)                     HTML    771K 
69: R52         Fair value option (Tables)                          HTML     82K 
70: R53         Commitments and contingent liabilities (Tables)     HTML     97K 
71: R54         Derivative instruments (Tables)                     HTML    462K 
72: R55         Lines of business (Tables)                          HTML    152K 
73: R56         International Operations (Tables)                   HTML    113K 
74: R57         Supplemental information to the Consolidated        HTML     66K 
                Statement of Cash Flows (Tables)                                 
75: R58         Summary of significant accounting and reporting     HTML     84K 
                policies (Details)                                               
76: R59         Summary of significant accounting and reporting     HTML     59K 
                policies - Equity Method Investments (Details)                   
77: R60         Acquisitions and dispositions (Details)             HTML    105K 
78: R61         Securities - Amortized Cost, Gross Unrealized       HTML    152K 
                Gains and Losses and Fair Value of Securities                    
                (Detail)                                                         
79: R62         Securities - Securities Transferred From AFS to     HTML     51K 
                HTM (Details)                                                    
80: R63         Securities - Net Securities Gains (Losses)          HTML     56K 
                (Detail)                                                         
81: R64         Securities - Aggregate Fair Value of Investments    HTML    171K 
                with Continuous Unrealized Loss Position (Detail)                
82: R65         Securities - Maturity Distribution by Carrying      HTML    161K 
                Amount and Yield (on Tax Equivalent Basis) of                    
                Investment Securities Portfolio (Detail)                         
83: R66         Securities - Projected Weighted-Average Default     HTML     59K 
                Rates and Loss Severities (Detail)                               
84: R67         Securities - Pre-Tax Net Securities Gains (Losses)  HTML     62K 
                by Type (Detail)                                                 
85: R68         Securities - Debt Securities Credit Losses Roll     HTML     59K 
                Forward Recorded in Earnings (Detail)                            
86: R69         Securities - Pledged assets (Details)               HTML     73K 
87: R70         Loans and asset quality - Details of Loan           HTML     96K 
                Distribution and Industry Concentrations of Credit               
                Risk (Detail)                                                    
88: R71         Loans and asset quality - Allowance for Credit      HTML    168K 
                Losses Activity (Details)                                        
89: R72         Loans and asset quality - Nonperforming Assets      HTML     66K 
                (Detail)                                                         
90: R73         Loans and asset quality - Lost Interest (Detail)    HTML     55K 
91: R74         Loans and asset quality - Information about         HTML    111K 
                Impaired Loans (Detail)                                          
92: R75         Loans and asset quality - Information about Past    HTML     82K 
                Due Loans (Detail)                                               
93: R76         Loans and asset quality- Troubled Debt              HTML     62K 
                Restructurings (Detail)                                          
94: R77         Loans and asset quality - Credit Quality            HTML     75K 
                Indicators - Wealth Management Loans and Mortgages               
                - Credit Risk Profile by Internally Assigned Grade               
                (Detail)                                                         
95: R78         Loans and asset quality - Additional Information    HTML    115K 
                (Details)                                                        
96: R79         Goodwill and intangible assets - Goodwill by        HTML     73K 
                Business Segment (Detail)                                        
97: R80         Goodwill and intangible assets - Intangible Assets  HTML     71K 
                by Business Segment (Detail)                                     
98: R81         Goodwill and intangible assets - Intangible Assets  HTML     83K 
                by Type (Detail)                                                 
99: R82         Goodwill and intangible assets - Estimated Annual   HTML     59K 
                Amortization Expense (Detail)                                    
100: R83         Other assets (Detail)                               HTML     87K  
101: R84         Other assets - Seed Capital and Private Equity      HTML     67K  
                Investments Valued Using Net Asset Value (Detail)                
102: R85         Other assets - Qualified Affordable Housing         HTML     69K  
                Project Investments (Details)                                    
103: R86         Deposits - Additional Information (Detail)          HTML     65K  
104: R87         Net interest revenue (Details)                      HTML    103K  
105: R88         Noninterest Expense (Detail)                        HTML     85K  
106: R89         Income Taxes - Narrative (Detail)                   HTML     74K  
107: R90         Income Taxes - Provision (Benefit) for Income       HTML     79K  
                Taxes from Continuing Operations (Detail)                        
108: R91         Income Taxes - Components of Income (Loss) before   HTML     54K  
                Taxes (Detail)                                                   
109: R92         Income Taxes - Components of Net Deferred Tax       HTML     80K  
                Liability (Detail)                                               
110: R93         Income Taxes - Reconciliation of Statutory Federal  HTML     77K  
                Income Tax Rate to Effective Income Tax Rate                     
                (Detail)                                                         
111: R94         Income Taxes - Unrecognized Tax Positions (Detail)  HTML     64K  
112: R95         Long-Term Debt - Schedule of Long-term Debt         HTML     70K  
                (Detail)                                                         
113: R96         Long-Term Debt - Summary of Trust Preferred         HTML     67K  
                Securities Issued by Trusts (Detail)                             
114: R97         Long-Term Debt - Additional Information (Detail)    HTML     68K  
115: R98         Securitizations and variable interest entities -    HTML     85K  
                Incremental Assets and Liabilities of Variable                   
                Interest Entities Included in Consolidated                       
                Financial Statements (Detail)                                    
116: R99         Securitizations and variable interest entities -    HTML     59K  
                Non-consolidated Variable Interest Entities                      
                (Detail)                                                         
117: R100        Shareholders' equity - Narrative (Details)          HTML    112K  
118: R101        Shareholders' equity - Summary (Details)            HTML     92K  
119: R102        Shareholders' equity - Capital adequacy (Details)   HTML    150K  
120: R103        Other comprehensive income (loss) - Components      HTML    117K  
                (Details)                                                        
121: R104        Other comprehensive income (loss) Other             HTML     78K  
                Comprehensive Income (Loss) - Changes in                         
                Accumulated Other Comprehensive Income (Loss)                    
                (Details)                                                        
122: R105        Stock-based compensation - Additional Information   HTML    109K  
                (Detail)                                                         
123: R106        Stock-based compensation - Summary of Stock Option  HTML     91K  
                Activity (Detail)                                                
124: R107        Stock-based compensation - Stock Options            HTML     83K  
                Outstanding (Detail)                                             
125: R108        Stock-based compensation - Aggregate Intrinsic      HTML     53K  
                Value of Options (Detail)                                        
126: R109        Stock-based compensation - Nonvested Restricted     HTML     73K  
                Stock and Restricted Stock Units Activity (Detail)               
127: R110        Employee Benefit Plans - Combined Data for          HTML    157K  
                Domestic and Foreign Defined Benefit Pension and                 
                Post Retirement Healthcare Plans (Detail)                        
128: R111        Employee Benefit Plans - Net Periodic Benefit       HTML    111K  
                (Credit) Cost (Details)                                          
129: R112        Employee Benefit Plans - Changes in Other           HTML     76K  
                Comprehensive Income (Loss) (Details)                            
130: R113        Employee Benefit Plans - Amounts Expected to be     HTML     61K  
                Recognized in Net Periodic Benefit Income (Cost)                 
                (Details)                                                        
131: R114        Employee Benefit Plans - Defined Benefit Plan       HTML     64K  
                Funded Status of Plan (Details)                                  
132: R115        Employee Benefit Plans - Plans with Obligations in  HTML     61K  
                Excess of Plan Assets (Details)                                  
133: R116        Employee Benefit Plans - Benefit Payments for BNY   HTML     77K  
                Mellons Pension and Healthcare Plans Expected to                 
                be Paid (Details)                                                
134: R117        Employee Benefit Plans - Pension Investment Asset   HTML     75K  
                Allocation (Detail)                                              
135: R118        Employee Benefit Plans - Pension Plan Investment    HTML    171K  
                Assets Measured at Fair Value on Recurring Basis                 
                (Detail)                                                         
136: R119        Employee Benefit Plans - Rollforward of Plan        HTML     67K  
                Investment Assets Including Change in Fair Value                 
                Classified in Level 3 of Valuation Hierarchy                     
                (Detail)                                                         
137: R120        Employee Benefit Plans - Pension Plan Assets        HTML     78K  
                Valued Using Net Asset Value (Detail)                            
138: R121        Employee Benefit Plans - Additional Information     HTML    127K  
                (Detail)                                                         
139: R122        Company Financial Information Condensed Income      HTML     92K  
                Statement Parent Corporation (Details)                           
140: R123        Company Financial Information Condensed Balance     HTML     95K  
                Sheet Parent Corporation (Details)                               
141: R124        Company Financial Information Condensed Statement   HTML    131K  
                of Cash Flows Parent Corporation (Details)                       
142: R125        Company Financial Information - Additional          HTML     87K  
                Information (Details)                                            
143: R126        Fair value measurement - Assets and Liabilities     HTML    285K  
                Measured at Fair Value on Recurring Basis                        
                (Details)                                                        
144: R127        Fair value measurement - Details of Certain Items   HTML    213K  
                Measured at Fair Value on Recurring Basis                        
                (Details)                                                        
145: R128        Fair value measurement - Significant Unobservable   HTML    107K  
                Inputs (Details)                                                 
146: R129        Fair value measurement - Assets Measured at Fair    HTML     67K  
                Value on Nonrecurring Basis (Details)                            
147: R130        Fair value measurement - Carrying Amount and Fair   HTML    100K  
                Value of Financial Instruments (Details)                         
148: R131        Fair value measurement - Summary of Carrying        HTML     59K  
                Amount of Hedged Financial Instruments, Related                  
                Notional Amount of Hedge and Estimated Fair Value                
                of Derivatives (Details)                                         
149: R132        Fair Value Measurement - Additional Information     HTML     52K  
                (Details)                                                        
150: R133        Fair value option - Assets and Liabilities, by      HTML     64K  
                Type, of Consolidated Investment Management Funds                
                Recorded at Fair Value (Detail)                                  
151: R134        Fair value option - Changes in Fair Value of the    HTML     56K  
                Loans and Long-Term Debt and the Location of the                 
                Changes (Details)                                                
152: R135        Fair value option - Narrative (Details)             HTML     57K  
153: R136        Commitments and contingent liabilities -            HTML     88K  
                Significant Industry Concentrations Related to                   
                Credit Exposure (Details)                                        
154: R137        Commitments and contingent liabilities - Summary    HTML     62K  
                of Off-Balance Sheet Credit Risks, Net of                        
                Participations (Details)                                         
155: R138        Commitments and contingent liabilities - Standby    HTML     56K  
                Letters of Credits by Investment Grade (Details)                 
156: R139        Commitments and contingent liabilities - Narrative  HTML    124K  
                (Details)                                                        
157: R140        Derivative instruments - Narrative (Details)        HTML     95K  
158: R141        Derivative instruments - Ineffectiveness Related    HTML     60K  
                to Derivatives and Hedging Relationships Recorded                
                in Income (Details)                                              
159: R142        Derivative instruments - Impact of Derivative       HTML     99K  
                Instruments on Balance Sheet (Details)                           
160: R143        Derivative instruments - Impact of Derivative       HTML     92K  
                Instruments on Income Statement (Details)                        
161: R144        Derivative instruments - Revenue from Foreign       HTML     57K  
                Exchange and Other Trading (Details)                             
162: R145        Derivative instruments - Fair Value of Derivative   HTML     59K  
                Contracts Falling under Early Termination                        
                Provisions in Net Liability Position (Details)                   
163: R146        Derivative instruments - Offsetting (Details)       HTML    239K  
164: R147        Derivative instruments - Secured Borrowings         HTML    106K  
                (Details)                                                        
165: R148        Lines of business - Narrative (Details)             HTML     56K  
166: R149        Lines of business - Contribution of Segments to     HTML     97K  
                Overall Profitability (Details)                                  
167: R150        International Operations - Foreign Revenue, Income  HTML     73K  
                before Income Taxes, Net Income and Assets from                  
                Foreign Operations (Detail)                                      
168: R151        International Operations (Details)                  HTML     58K  
169: R152        Supplemental information to the Consolidated        HTML     68K  
                Statement of Cash Flows- Noncash Investing and                   
                Financing Transactions that are Not Reflected in                 
                Consolidated Statement of Cash Flows (Detail)                    
171: XML         IDEA XML File -- Filing Summary                      XML    326K  
170: EXCEL       IDEA Workbook of Financial Reports                  XLSX    284K  
12: EX-101.INS  XBRL Instance -- bk-20161231                         XML  16.76M 
14: EX-101.CAL  XBRL Calculations -- bk-20161231_cal                 XML    709K 
15: EX-101.DEF  XBRL Definitions -- bk-20161231_def                  XML   2.37M 
16: EX-101.LAB  XBRL Labels -- bk-20161231_lab                       XML   4.91M 
17: EX-101.PRE  XBRL Presentations -- bk-20161231_pre                XML   3.19M 
13: EX-101.SCH  XBRL Schema -- bk-20161231                           XSD    523K 
172: ZIP         XBRL Zipped Folder -- 0001390777-17-000065-xbrl      Zip    972K  


‘R32’   —   Lines of business


This is an IDEA Financial Report.  [ Alternative Formats ]



 
v3.6.0.2
Lines of business
12 Months Ended
Segment Reporting [Abstract]  
Lines of business
Lines of business

We have an internal information system that produces performance data along product and service lines for our two principal businesses and the Other segment.

Business accounting principles

Our business data has been determined on an internal management basis of accounting, rather than the generally accepted accounting principles used for consolidated financial reporting. These measurement principles are designed so that reported results of the businesses will track their economic performance.

Business results are subject to reclassification when organizational changes are made or when improvements are made in the measurement principles. In 2016, BNY Mellon reclassified the results of our credit-related activities to the Investment Services segment from the Other segment. This reclassification reflects our strategy to provide credit services to our Investment Services clients and did not impact the consolidated results. Also, concurrent with this reclassification, the provision for credit losses associated with the respective credit portfolios is now reflected in each business segment. All prior periods have been restated.

Beginning in 2016, we revised the net interest revenue for our business to reflect adjustments to our transfer pricing methodology to better reflect the value of certain deposits. Also in 2016, we refined the expense allocation process for indirect expenses to simplify the expenses recorded in the Other segment to include only expenses not directly attributable to the Investment Management and Investment Services operations. These changes did not impact the consolidated results.

The accounting policies of the businesses are the same as those described in Note 1 of the Notes to Consolidated Financial Statements.

The primary types of revenue for our two principal businesses and the Other segment are presented below:

Business
Primary types of revenue
Investment Management
•   Investment management and performance fees from:
Mutual funds
Institutional clients
Private clients
High net worth individuals and families, endowments and foundations and related entities
   Distribution and servicing fees
   Other revenue from seed capital investments
Investment Services
   Asset servicing fees, including institutional trust and custody fees, accounting, broker-dealer services, securities lending and collateral and liquidity services
   Issuer services fees, including Corporate Trust and Depositary Receipts
   Clearing services fees
   Treasury services fees, including global payment services, trade finance and cash management
   Foreign exchange revenue
   Financing-related fees and net interest revenue from credit-related activities
Other segment
   Net interest-revenue and lease-related gains (losses) from leasing operations
   Gain (loss) on securities and net interest revenue from corporate treasury activity
   Other trading revenue from derivatives and other trading activity
   Results of business exits


The results of our businesses are presented and analyzed on an internal management reporting basis:

Revenue amounts reflect fee and other revenue generated by each business. Fee and other revenue transferred between businesses under revenue transfer agreements is included within other revenue in each business.
Revenues and expenses associated with specific client bases are included in those businesses. For example, foreign exchange activity associated with clients using custody products is included in Investment Services.
Net interest revenue is allocated to businesses based on the yields on the assets and liabilities generated by each business. We employ a funds transfer pricing system that matches funds with the specific assets and liabilities of each business based on their interest sensitivity and maturity characteristics.
The provision for credit losses associated with the respective credit portfolios is reflected in each business segment.
Incentive expense related to restricted stock is allocated to the businesses.
Support and other indirect expenses are allocated to businesses based on internally developed methodologies.
Recurring FDIC expense is allocated to the businesses based on average deposits generated within each business.
Litigation expense is generally recorded in the business in which the charge occurs.
Management of the investment securities portfolio is a shared service contained in the Other segment. As a result, gains and losses associated with the valuation of the securities portfolio are included in the Other segment.
Client deposits serve as the primary funding source for our investment securities portfolio. We typically allocate all interest revenue to the businesses generating the deposits. Accordingly, accretion related to the portion of the investment securities portfolio restructured in 2009 has been included in the results of the businesses.
M&I expense is a corporate level item and is recorded in the Other segment.
Restructuring charges relate to corporate-level initiatives and were therefore recorded in the Other segment.
Balance sheet assets and liabilities and their related income or expense are specifically assigned to each business. Businesses with a net liability position have been allocated assets.
Goodwill and intangible assets are reflected within individual businesses.

Total revenue includes approximately $2.2 billion in 2016, $2.3 billion in 2015 and $2.3 billion in 2014 of international operations domiciled in the UK which comprised 14%, 15% and 15% of total revenue, respectively.

The following consolidating schedules show the contribution of our businesses to our overall profitability.

For the year ended Dec. 31, 2016
Investment
Management

 
Investment
Services

 
Other

 
Consolidated

 
(dollar amounts in millions)
Fee and other revenue
$
3,424

(a) 
$
8,299

 
$
366

 
$
12,089

(a) 
Net interest revenue
327

 
2,797

 
14

 
3,138

 
Total revenue
3,751

(a)
11,096

 
380

 
15,227

(a)
Provision for credit losses
6

 
8

 
(25
)
 
(11
)
 
Noninterest expense
2,778

 
7,342

 
394

 
10,514

(b)
Income before taxes
$
967

(a) 
$
3,746

 
$
11

 
$
4,724

(a)(b)
Pre-tax operating margin (c)
26
%
 
34
%
 
N/M

 
31
%
 
Average assets
$
30,169

 
$
273,808

 
$
54,500

 
$
358,477

 
(a)
Both fee and other revenue and total revenue include the net income from consolidated investment management funds of $16 million, representing $26 million of income and noncontrolling interests of $10 million. Income before taxes is net of noncontrolling interests of $10 million.
(b)
Noninterest expense includes a loss attributable to noncontrolling interest of $9 million related to other consolidated subsidiaries.
(c)
Income before taxes divided by total revenue.


For the year ended Dec. 31, 2015
Investment
Management

 
Investment
Services

 
Other

 
Consolidated

 
(dollar amounts in millions)
Fee and other revenue
$
3,587

(a) 
$
8,177

 
$
336

 
$
12,100

(a) 
Net interest revenue
319

 
2,622

 
85

 
3,026

 
Total revenue
3,906

(a)
10,799

 
421

 
15,126

(a)
Provision for credit losses
(1
)
 
28

 
133

 
160

 
Noninterest expense
2,859

 
7,502

 
434

 
10,795

(b)
Income (loss) before taxes
$
1,048

(a) 
$
3,269

 
$
(146
)
 
$
4,171

(a)(b)
Pre-tax operating margin (c)
27
%
 
30
%
 
N/M

 
28
%
 
Average assets
$
30,928

 
$
286,617

 
$
54,642

 
$
372,187

 

(a)
Both fee and other revenue and total revenue include the net income from consolidated investment management funds of $18 million, representing $86 million of income and noncontrolling interests of $68 million. Income before taxes is net of noncontrolling interests of $68 million.
(b)
Noninterest expense includes a loss attributable to noncontrolling interest of $4 million related to other consolidated subsidiaries.
(c)
Income before taxes divided by total revenue.


For the year ended Dec. 31, 2014
Investment
Management

 
Investment
Services

 
Other

 
Consolidated

 
(dollar amounts in millions)
Fee and other revenue
$
3,657

(a) 
$
7,882

 
$
1,189

 
$
12,728

(a) 
Net interest revenue
274

 
2,468

 
138

 
2,880

 
Total revenue
3,931

(a)
10,350

 
1,327

 
15,608

(a)
Provision for credit losses

 
(21
)
 
(27
)
 
(48
)
 
Noninterest expense
3,039

 
8,241

 
897

 
12,177

 
Income before taxes
$
892

(a) 
$
2,130

 
$
457

 
$
3,479

(a)
Pre-tax operating margin (b)
23
%
 
21
%
 
N/M

 
22
%
 
Average assets
$
37,655

 
$
271,477

 
$
63,434

 
$
372,566

 

(a)
Both fee and other revenue and total revenue include net income from consolidated investment management funds of $79 million, representing $163 million of income and noncontrolling interests of $84 million. Income before taxes is net of noncontrolling interests of $84 million.
(b)
Income before taxes divided by total revenue.

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/28/174
For Period end:12/31/1611-K,  13F-HR,  5,  8-K
12/31/1510-K,  11-K,  13F-HR,  5,  8-K
12/31/1410-K,  11-K,  13F-HR,  13F-HR/A,  5,  8-K,  ARS
 List all Filings 


1 Subsequent Filing that References this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

11/08/21  Bank of New York Mellon Corp.     424B2                  1:761K                                   Donnelley … Solutions/FA
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