Document


Table of Contents


						Page
Business Resegmentation						3
Business Segment Revenue						4

Consolidated Results
Condensed Consolidated Income Statement						5
Fee and Other Revenue						6
Money Market Fee Waivers						7

Business Segment Results
Market and Wealth Services Business Segment						8
Securities Services Business Segment						10
Investment and Wealth Management Business Segment						12
AUM by Product Type, Changes in AUM and Wealth Management Client Assets						13
Other Segment						14

Supplemental Information
Explanation of GAAP and Non-GAAP Financial Measures						15
Explanation of Income Statement Changes						16

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESS RESEGMENTATION

The following disclosures provide supplemental information related to changes to our business segments, which became effective in the fourth quarter of 2021. The disclosures also provide information related to certain reclassifications on the consolidated income statement that are being made to further simplify our total revenue presentation.

The business segment changes include creating the following two new segments by disaggregating the former Investment Services segment:

Market and Wealth Services business segment. This segment includes the Pershing, Treasury Services and Clearance and Collateral Management businesses.

Securities Services business segment. This segment includes the Asset Servicing and Issuer Services businesses.

Our Investment and Wealth Management business segment and Other segment were not impacted by the changes.

The following pages provide detailed financial information to assist investors in understanding how the business segment results would have been presented in previously-filed reports based on how the businesses are managed beginning in the fourth quarter of 2021.

Below is a summary of our business segments, before and after the changes.

FORMER

Investment Services

Investment and Wealth Management

Other

Pershing

Treasury Services

Clearance and Collateral Management

Asset
Servicing

Issuer
Services

Investment Management

Wealth Management

CURRENT

Market and Wealth Services

Securities Services

Investment and Wealth Management

Other

Pershing

Treasury Services

Clearance and Collateral Management

Asset
Servicing

Issuer
Services

Investment Management

Wealth Management

In conjunction with the changes to our business segments, the following simplifications were made to the consolidated income statement presentation:

Asset servicing fees, clearing services fees, issuer services fees and treasury services fees have been collapsed to one line, investment services fees.

Net securities gains (losses) were reclassified to investment and other income. Investment and other income was renamed investment and other revenue.

These simplifications had no impact on consolidated total revenue or total revenue for each of the business segments. Prior periods were reclassified for comparability.

For the segment presentation, we are now presenting investment services fees for each line of business, as well as other fees, total fee revenue, investment and other revenue and total fee and other revenue for each business segment.

THE BANK OF NEW YORK MELLON CORPORATION

BUSINESS SEGMENT REVENUE

Market and Wealth Services business segment

Line of business

Primary products and services

Primary types of revenue

Pershing

Clearing and custody, investment, wealth and retirement solutions, technology and enterprise data management, trading services and prime brokerage

– Investment services fees
– Net interest revenue

Treasury Services

Integrated cash management solutions including payments, foreign exchange, liquidity management, receivables processing and payables management and trade finance and processing

– Investment services fees
– Net interest revenue
– Foreign exchange revenue

Clearance and Collateral Management

Clearance (including U.S. government and global clearing services) and Global Collateral Management (including tri-party services)

– Investment services fees
– Net interest revenue

Securities Services business segment

Line of business

Primary products and services

Primary types of revenue

Asset Servicing

Custody, Trust & Depositary, accounting, ETF services, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, prime brokerage and data analytics

– Investment services fees (includes securities lending revenue)

– Net interest revenue

– Foreign exchange revenue

– Financing-related fees

Issuer Services

Corporate Trust (trustee, paying agency, fiduciary, escrow and other financial services) and Depositary Receipts (issuer services and support for brokers and investors)

– Investment services fees
– Net interest revenue
– Foreign exchange revenue

Investment and Wealth Management business segment

Line of business

Primary products and services

Primary types of revenue

Investment Management

Diversified investment management strategies and distribution of investment products

– Investment management fees
– Performance fees
– Distribution and servicing fees

Wealth Management

Investment management, custody, wealth and estate planning, private banking services, investment services and information management

– Investment management fees
– Net interest revenue

Other segment

Description

Primary types of revenue

Includes leasing portfolio, corporate treasury activities, including our securities portfolio, derivatives and other trading activity, corporate and bank-owned life insurance, renewable energy investments and certain business exits

– Investment and other revenue
– Other trading revenue
– Net gains (losses) on securities
– Net interest revenue (expense)


THE BANK OF NEW YORK MELLON CORPORATION
CONDENSED CONSOLIDATED INCOME STATEMENT

(dollars in millions, except per share amounts; common shares in thousands)	Quarters														Full years
	3Q21		2Q21		1Q21		4Q20		3Q20		2Q20		1Q20		FY20		FY19
Revenue
Investment services fees	$	2,091	$	2,076	$	2,056	$	1,969	$	2,012	$	2,025	$	2,041	$	8,047	$	7,900
Investment management and performance fees	913		889		890		884		835		786		862		3,367		3,389
Foreign exchange revenue	185		184		231		187		149		193		245		774		564
Financing-related fees	48		48		51		46		49		58		59		212		196
Distribution and servicing fees	28		27		29		28		29		27		31		115		129
Total fee revenue	3,265		3,224		3,257		3,114		3,074		3,089		3,238		12,515		12,178
Investment and other revenue	129		91		9		49		70		141		56		316		1,096
Total fee and other revenue	3,394		3,315		3,266		3,163		3,144		3,230		3,294		12,831		13,274
Net interest revenue	641		645		655		680		703		780		814		2,977		3,188
Total revenue	4,035		3,960		3,921		3,843		3,847		4,010		4,108		15,808		16,462
Provision for credit losses	(45)		(86)		(83)		15		9		143		169		336		(25)
Noninterest expense
Staff	1,584		1,518		1,602		1,554		1,466		1,464		1,482		5,966		6,063
Software and equipment	372		365		362		359		340		345		326		1,370		1,222
Professional, legal and other purchased services	363		363		343		381		355		337		330		1,403		1,345
Sub-custodian and clearing	129		132		124		116		119		120		105		460		450
Net occupancy	120		122		123		173		136		137		135		581		564
Distribution and servicing	76		73		74		75		85		85		91		336		374
Bank assessment charges	34		35		34		24		30		35		35		124		125
Business development	22		22		19		26		17		20		42		105		213
Amortization of intangible assets	19		20		24		26		26		26		26		104		117
Other	199		128		146		191		107		117		140		555		427
Total noninterest expense	2,918		2,778		2,851		2,925		2,681		2,686		2,712		11,004		10,900
Income before income taxes	1,162		1,268		1,153		903		1,157		1,181		1,227		4,468		5,587
Provision for income taxes	219		241		221		148		213		216		265		842		1,120
Net income	943		1,027		932		755		944		965		962		3,626		4,467
Net loss (income) attributable to noncontrolling interests	4		(5)		(5)		(5)		(7)		(15)		18		(9)		(26)
Preferred stock dividends	(66)		(31)		(69)		(48)		(61)		(49)		(36)		(194)		(169)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	$	881	$	991	$	858	$	702	$	876	$	901	$	944	$	3,423	$	4,272

Average common shares and equivalents outstanding: Basic	844,088		869,460		882,558		889,928		889,499		889,020		894,122		890,839		939,623
Diluted	849,028		873,475		885,655		891,846		891,069		890,561		896,689		892,514		943,109

Earnings per common share: Basic	$	1.04	$	1.14	$	0.97	$	0.79	$	0.98	$	1.01	$	1.05	$	3.84	$	4.53
Diluted	$	1.04	$	1.13	$	0.97	$	0.79	$	0.98	$	1.01	$	1.05	$	3.83	$	4.51


THE BANK OF NEW YORK MELLON CORPORATION
FEE AND OTHER REVENUE

	Quarters														Full years
(in millions)	3Q21		2Q21		1Q21		4Q20		3Q20		2Q20		1Q20		FY20		FY19
Investment services fees	$	2,091	$	2,076	$	2,056	$	1,969	$	2,012	$	2,025	$	2,041	$	8,047	$	7,900
Investment management and performance fees:
Investment management fees (a)	892		875		850		839		828		781		812		3,260		3,306
Performance fees	21		14		40		45		7		5		50		107		83
Total investment management and performance fees	913		889		890		884		835		786		862		3,367		3,389
Foreign exchange revenue	185		184		231		187		149		193		245		774		564
Financing-related fees	48		48		51		46		49		58		59		212		196
Distribution and servicing fees	28		27		29		28		29		27		31		115		129
Total fee revenue	3,265		3,224		3,257		3,114		3,074		3,089		3,238		12,515		12,178
Investment and other revenue:
(Loss) income from consolidated investment management funds	(7)		13		17		41		27		54		(38)		84		56
Seed capital gains (losses) (b)	7		18		3		22		9		23		(31)		23		14
Other trading revenue (loss)	20		(1)		(7)		(31)		(14)		(8)		66		13		77
Renewable energy investment (losses)	(42)		(41)		(81)		(27)		(34)		(34)		(34)		(129)		(120)
Corporate/bank-owned life insurance	33		29		33		43		33		36		36		148		138
Other investments gains (c)	70		23		11		18		11		13		(7)		35		841
Disposal gains (losses)	7		6		—		(61)		—		—		—		(61)		—
Expense reimbursements from joint venture	25		25		23		22		23		19		21		85		79
Other income	14		17		10		16		6		29		34		85		29
Net securities gains (losses)	2		2		—		6		9		9		9		33		(18)
Total investment and other revenue	129		91		9		49		70		141		56		316		1,096
Total fee and other revenue	$	3,394	$	3,315	$	3,266	$	3,163	$	3,144	$	3,230	$	3,294	$	12,831	$	13,274
(a) Excludes seed capital gains (losses) related to consolidated investment management funds.
(b) Includes gains (losses) on investments in BNY Mellon funds which hedge deferred incentive awards.
(c) Includes strategic equity, private equity and other investments.


THE BANK OF NEW YORK MELLON CORPORATION
MONEY MARKET FEE WAIVERS

	Quarters														Full year
(in millions)	3Q21		2Q21		1Q21		4Q20		3Q20		2Q20		1Q20		FY20
Investment services fees	$	(142)	$	(148)	$	(109)	$	(85)	$	(62)	$	(53)	$	(9)	$	(209)
Investment management and performance fees (a)	(109)		(115)		(89)		(56)		(42)		(30)		(14)		(142)
Distribution and servicing fees	(11)		(13)		(13)		(8)		(6)		(3)		—		(17)
Total fee revenue	(262)		(276)		(211)		(149)		(110)		(86)		(23)		(368)
Less: Distribution and servicing expense	29		24		23		15		9		7		—		31
Net impact of money market fee waivers	$	(233)	$	(252)	$	(188)	$	(134)	$	(101)	$	(79)	$	(23)	$	(337)

Impact to investment services fees by line of business (b):
Pershing	$	(86)	$	(91)	$	(77)	$	(65)	$	(59)	$	(53)	$	(9)	$	(186)
Treasury Services	(10)		(11)		(6)		(4)		—		—		—		(4)
Asset Servicing	(29)		(30)		(15)		(9)		(1)		—		—		(10)
Issuer Services	(17)		(16)		(11)		(7)		(2)		—		—		(9)
Total impact to investment services fees by line of business	$	(142)	$	(148)	$	(109)	$	(85)	$	(62)	$	(53)	$	(9)	$	(209)

Impact to revenue by line of business (b):
Pershing	$	(102)	$	(99)	$	(94)	$	(85)	$	(73)	$	(60)	$	(9)	$	(227)
Treasury Services	(13)		(16)		(9)		(5)		(1)		—		—		(6)
Asset Servicing	(47)		(50)		(29)		(13)		(4)		(1)		—		(18)
Issuer Services	(22)		(22)		(15)		(10)		(2)		(1)		—		(13)
Investment Management (a)	(76)		(85)		(61)		(34)		(28)		(24)		(14)		(100)
Wealth Management	(2)		(4)		(3)		(2)		(2)		—		—		(4)
Total impact to revenue by line of business	$	(262)	$	(276)	$	(211)	$	(149)	$	(110)	$	(86)	$	(23)	$	(368)
(a) Money market fee waivers were $49 million in 2019.
(b) The line of business revenue for management reporting purposes reflects the impact of revenue transferred between the businesses.


THE BANK OF NEW YORK MELLON CORPORATION
MARKET AND WEALTH SERVICES BUSINESS SEGMENT

	Quarters																					Full years
(dollars in millions)	3Q21			2Q21			1Q21			4Q20			3Q20			2Q20			1Q20			FY20			FY19
Income statement:
Revenue
Investment services fees
Pershing	$	427		$	439		$	459		$	422		$	401		$	436		$	475		$	1,734		$	1,668
Treasury Services	168			160			164			163			167			157			154			641			584
Clearance and Collateral Management	228			228			226			220			218			227			231			896			904
Total investment services fees	823			827			849			805			786			820			860			3,271			3,156
Foreign exchange revenue	23			23			21			24			17			13			25			79			69
Other fees (a)	31			32			37			33			41			42			50			166			184
Total fee revenue	877			882			907			862			844			875			935			3,516			3,409
Investment and other revenue	13			21			7			9			8			15			30			62			56
Total fee and other revenue	890			903			914			871			852			890			965			3,578			3,465
Net interest revenue	283			289			289			292			286			323			327			1,228			1,230
Total revenue	1,173			1,192			1,203			1,163			1,138			1,213			1,292			4,806			4,695
Provision for credit losses	(16)			(19)			(29)			8			(3)			46			49			100			(5)
Noninterest expense (ex. amortization of intangible assets)	665			647			673			661			637			624			655			2,577			2,600
Amortization of intangible assets	3			5			9			9			9			10			9			37			39
Total noninterest expense	668			652			682			670			646			634			664			2,614			2,639
Income before taxes	$	521		$	559		$	550		$	485		$	495		$	533		$	579		$	2,092		$	2,061


Total revenue by line of business:
Pershing	$	566		$	590		$	605		$	563		$	538		$	578		$	653		$	2,332		$	2,287
Treasury Services	326			319			317			325			323			340			339			1,327			1,275
Clearance and Collateral Management	281			283			281			275			277			295			300			1,147			1,133
Total revenue by line of business	$	1,173		$	1,192		$	1,203		$	1,163		$	1,138		$	1,213		$	1,292		$	4,806		$	4,695


Financial ratios:
Pre-tax operating margin	44		%	47		%	46		%	42		%	43		%	44		%	45		%	44		%	44		%
(a) Other fees includes investment management and performance fees, financing-related fees and distribution and servicing fees.


THE BANK OF NEW YORK MELLON CORPORATION
MARKET AND WEALTH SERVICES BUSINESS SEGMENT

	Quarters														Full years
(dollars in millions, unless otherwise noted)	3Q21		2Q21		1Q21		4Q20		3Q20		2Q20		1Q20		FY20		FY19
Selected balance sheet data:
Average loans	$	39,041	$	38,360	$	35,094	$	32,939	$	31,705	$	32,967	$	32,122	$	32,432	$	29,021
Average assets (a)	$	143,630	$	144,297	$	148,820	$	137,410	$	121,197	$	128,259	$	107,222	$	123,554	$	95,932
Average deposits	$	101,253	$	102,896	$	107,079	$	98,670	$	81,660	$	81,568	$	71,725	$	83,442	$	57,515

Selected metrics:
AUC/A at period end (in trillions) (b)	$	11.2	$	11.1	$	9.9	$	10.2	$	9.6	$	9.5	$	9.5	$	10.2	$	9.5

Pershing
AUC/A at period end (in trillions)	$	2.6	$	2.8	$	2.6	$	2.5	$	2.2	$	2.1	$	1.8	$	2.5	$	2.1
Net new assets (U.S. platform) (in billions) (c)	$	13	$	47	$	32	$	45	$	17	$	17	$	37	$	116	$	111
Average active clearing accounts (in thousands) (d)	7,259		7,290		7,143		7,007		6,914		6,850		6,761		6,883		6,555

Treasury Services
Average daily U.S. dollar payment volumes (in thousands)	232,144		230,346		235,975		234,362		215,255		208,817		229,320		221,755		225,145

Clearance and Collateral Management
Average tri-party collateral management balances (in billions)	$	4,516	$	3,898	$	3,638	$	3,555	$	3,417	$	3,573	$	3,724	$	3,566	$	3,446
(a) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
(b) Consists of AUC/A from the Clearance and Collateral Management and Pershing businesses.
(c) Net new assets represent net flows of assets (e.g., net cash deposits and net securities transfers, including dividends and interest) in customer accounts in Pershing LLC, a U.S. broker-dealer. The methodology used to determine net new assets has been updated to include dividends and interest. Prior period amounts have been restated for comparability.
(d) Average active clearing accounts have been expanded to include global accounts. Prior periods have been restated for comparability.


THE BANK OF NEW YORK MELLON CORPORATION
SECURITIES SERVICES BUSINESS SEGMENT

	Quarters																					Full years
(dollars in millions)	3Q21			2Q21			1Q21			4Q20			3Q20			2Q20			1Q20			FY20			FY19
Income statement:
Revenue
Investment services fees
Asset Servicing	$	979		$	960		$	953		$	896		$	915		$	918		$	906		$	3,635		$	3,565
Issuer Services	281			281			246			260			299			278			263			1,100			1,129
Total investment services fees	1,260			1,241			1,199			1,156			1,214			1,196			1,169			4,735			4,694
Foreign exchange revenue	125			129			172			139			109			151			203			602			457
Other fees (a)	30			25			30			39			43			53			47			182			176
Total fee revenue	1,415			1,395			1,401			1,334			1,366			1,400			1,419			5,519			5,327
Investment and other revenue	73			38			30			30			28			49			52			159			134
Total fee and other revenue	1,488			1,433			1,431			1,364			1,394			1,449			1,471			5,678			5,461
Net interest revenue	349			354			356			378			395			445			479			1,697			1,896
Total revenue	1,837			1,787			1,787			1,742			1,789			1,894			1,950			7,375			7,357
Provision for credit losses	(19)			(58)			(50)			23			(7)			99			100			215			(11)
Noninterest expense (ex. amortization of intangible assets)	1,535			1,393			1,411			1,496			1,365			1,347			1,314			5,522			5,416
Amortization of intangible assets	8			7			8			8			9			8			9			34			41
Total noninterest expense	1,543			1,400			1,419			1,504			1,374			1,355			1,323			5,556			5,457
Income before taxes	$	313		$	445		$	418		$	215		$	422		$	440		$	527		$	1,604		$	1,911


Total revenue by line of business:
Asset Servicing	$	1,437		$	1,382		$	1,424		$	1,357		$	1,354		$	1,463		$	1,531		$	5,705		$	5,634
Issuer Services	400			405			363			385			435			431			419			1,670			1,723
Total revenue by line of business	$	1,837		$	1,787		$	1,787		$	1,742		$	1,789		$	1,894		$	1,950		$	7,375		$	7,357


Financial ratios:
Pre-tax operating margin	17		%	25		%	23		%	12		%	24		%	23		%	27		%	22		%	26		%

Memo: Securities lending revenue (b)	$	45		$	42		$	41		$	36		$	37		$	51		$	46		$	170		$	163
(a) Other fees includes investment management and performance fees, financing-related fees and distribution and servicing fees.
(b) Included in investment services fees reported in the Asset Servicing business.


THE BANK OF NEW YORK MELLON CORPORATION
SECURITIES SERVICES BUSINESS SEGMENT

	Quarters														Full years
(in millions, unless otherwise noted)	3Q21		2Q21		1Q21		4Q20		3Q20		2Q20		1Q20		FY20		FY19
Selected balance sheet data:
Average loans	$	8,389	$	8,485	$	8,374	$	8,498	$	8,603	$	10,146	$	9,667	$	9,225	$	8,323
Average assets (a)	$	226,930	$	231,152	$	228,071	$	215,051	$	202,695	$	201,212	$	191,952	$	202,761	$	167,057
Average deposits	$	198,680	$	203,147	$	199,845	$	188,151	$	176,529	$	181,082	$	165,548	$	177,853	$	143,176

Selected metrics:
AUC/A at period end (in trillions) (b)	$	33.8	$	33.7	$	31.5	$	30.6	$	28.7	$	27.6	$	25.5	$	30.6	$	27.4
Market value of securities on loan at period end (in billions) (c)	$	443	$	456	$	445	$	435	$	378	$	384	$	389	$	435	$	378
(a) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.
(b) Consists of AUC/A primarily from the Asset Servicing business and, to a lesser extent, the Issuer Services business. Includes the AUC/A of CIBC Mellon of $1.7 trillion at Sept. 30, 2021 and June 30, 2021, $1.6 trillion at March 31, 2021, $1.5 trillion at Dec. 31, 2020, $1.4 trillion at Sept. 30, 2020, $1.3 trillion at June 30, 2020, $1.2 trillion at March 31, 2020 and $1.5 trillion at Dec. 31, 2019.
(c) Represents the total amount of securities on loan in our agency securities lending program managed by the Asset Servicing business. Excludes securities for which BNY Mellon acts as agent on behalf of CIBC Mellon clients, which totaled $68 billion at Sept. 30, 2021, $63 billion at June 30, 2021, $64 billion at March 31, 2021, $68 billion at Dec. 31, 2020, $62 billion at Sept. 30, 2020 and June 30, 2020, $59 billion at March 31, 2020 and $60 billion at Dec. 31, 2019.


THE BANK OF NEW YORK MELLON CORPORATION
INVESTMENT AND WEALTH MANAGEMENT BUSINESS SEGMENT

	Quarters																					Full years
(dollars in millions)	3Q21			2Q21			1Q21			4Q20			3Q20			2Q20			1Q20			FY20			FY19
Income statement:
Revenue
Investment management fees	$	893		$	876		$	850		$	839		$	828		$	782		$	812		$	3,261		$	3,307
Performance fees	21			14			40			45			7			5			50			107			83
Investment management and performance fees	914			890			890			884			835			787			862			3,368			3,390
Distribution and servicing fees	28			28			28			29			31			34			43			137			178
Other fees (a)	20			16			22			(6)			(9)			(16)			(27)			(58)			(101)
Total fee revenue	962			934			940			907			857			805			878			3,447			3,467
Investment and other revenue (b)	23			18			3			33			14			33			(32)			48			18
Total fee and other revenue (b)	985			952			943			940			871			838			846			3,495			3,485
Net interest revenue	47			47			48			50			47			48			52			197			222
Total revenue	1,032			999			991			990			918			886			898			3,692			3,707
Provision for credit losses	(7)			(4)			4			(8)			12			7			9			20			(1)
Noninterest expense (ex. amortization of intangible assets)	684			669			702			678			653			650			687			2,668			2,610
Amortization of intangible assets	7			8			7			9			8			8			8			33			37
Total noninterest expense	691			677			709			687			661			658			695			2,701			2,647
Income before taxes	$	348		$	326		$	278		$	311		$	245		$	221		$	194		$	971		$	1,061


Total revenue by line of business:
Investment Management	$	727		$	700		$	698		$	714		$	641		$	621		$	620		$	2,596		$	2,562
Wealth Management	305			299			293			276			277			265			278			1,096			1,145
Total revenue by line of business	$	1,032		$	999		$	991		$	990		$	918		$	886		$	898		$	3,692		$	3,707


Financial ratios:
Pre-tax operating margin	34		%	33		%	28		%	32		%	27		%	25		%	22		%	26		%	29		%
Adjusted pre-tax operating margin – Non-GAAP (c)	36		%	35		%	30		%	34		%	29		%	28		%	24		%	29		%	32		%


Selected balance sheet data:
Average loans	$	12,248		$	11,871		$	11,610		$	11,497		$	11,503		$	11,791		$	12,124		$	11,728		$	12,143
Average assets (d)	$	30,195		$	30,370		$	32,066		$	30,804		$	30,160		$	30,327		$	30,543		$	30,459		$	29,479
Average deposits	$	17,270		$	17,466		$	19,177		$	18,144		$	17,570		$	17,491		$	16,144		$	17,340		$	14,923
(a) Other fees includes investment services fees, foreign exchange revenue and financing-related fees.
(b) Investment and other revenue and total fee and other revenue are net of income attributable to noncontrolling interests related to consolidated investment management funds.
(c) Net of distribution and servicing expense. See "Supplemental Information – Explanation of GAAP and Non-GAAP Financial Measures" beginning on page 15 for the reconciliation of this Non-GAAP measure.
(d) In business segments where average deposits are greater than average loans, average assets include an allocation of investment securities equal to the difference.


THE BANK OF NEW YORK MELLON CORPORATION
AUM BY PRODUCT TYPE, CHANGES IN AUM AND WEALTH MANAGEMENT CLIENT ASSETS

	Quarters														Full years
(in billions)	3Q21		2Q21		1Q21		4Q20		3Q20		2Q20		1Q20		FY20		FY19
AUM by product type (a):
Equity	$	180	$	187	$	173	$	170	$	149	$	141	$	120	$	170	$	154
Fixed income	269		272		261		259		241		224		211		259		224
Index	436		440		419		393		350		333		274		393		339
Liability-driven investments	843		841		802		855		788		752		705		855		728
Multi-asset and alternative investments	218		222		214		209		193		185		171		209		192
Cash	364		358		345		325		320		326		315		325		273
Total AUM	$	2,310	$	2,320	$	2,214	$	2,211	$	2,041	$	1,961	$	1,796	$	2,211	$	1,910

Changes in AUM (a):
Beginning balance of AUM	$	2,320	$	2,214	$	2,211	$	2,041	$	1,961	$	1,796	$	1,910	$	1,910	$	1,722
Net inflows (outflows):
Long-term strategies:
Equity	(5)		(3)		—		(2)		(4)		(2)		(2)		(10)		(16)
Fixed income	1		8		8		5		1		4		—		10		6
Liability-driven investments	16		11		8		15		14		(2)		(5)		22		(1)
Multi-asset and alternative investments	(2)		1		(2)		—		(3)		—		(1)		(4)		(1)
Total long-term active strategies inflows (outflows)	10		17		14		18		8		—		(8)		18		(12)
Index	(3)		(5)		3		(3)		(3)		9		3		6		(32)
Total long-term strategies inflows (outflows)	7		12		17		15		5		9		(5)		24		(44)
Short-term strategies:
Cash	7		13		19		5		(10)		11		43		49		8
Total net inflows (outflows)	14		25		36		20		(5)		20		38		73		(36)
Net market impact	4		79		(36)		93		41		143		(91)		186		191
Net currency impact	(28)		2		3		57		44		2		(61)		42		33

Ending balance of AUM	$	2,310	$	2,320	$	2,214	$	2,211	$	2,041	$	1,961	$	1,796	$	2,211	$	1,910

Wealth Management client assets (b)	$	307	$	305	$	292	$	286	$	265	$	254	$	236	$	286	$	266
(a) Excludes assets managed outside of the Investment and Wealth Management business segment.
(b) Includes AUM and AUC/A in the Wealth Management business.


THE BANK OF NEW YORK MELLON CORPORATION
OTHER SEGMENT

	Quarters														Full years
(in millions)	3Q21		2Q21		1Q21		4Q20		3Q20		2Q20		1Q20		FY20		FY19
Income statement:
Fee revenue	$	12	$	13	$	9	$	11	$	7	$	10	$	6	$	34	$	(24)
Investment and other revenue	23		9		(36)		(28)		13		28		24		37		861
Total fee and other revenue	35		22		(27)		(17)		20		38		30		71		837
Net interest (expense)	(38)		(45)		(38)		(40)		(25)		(36)		(44)		(145)		(160)
Total revenue	(3)		(23)		(65)		(57)		(5)		2		(14)		(74)		677
Provision for credit losses	(3)		(5)		(8)		(8)		7		(9)		11		1		(8)
Noninterest expense	16		49		41		64		—		39		30		133		157
(Loss) income before taxes	$	(16)	$	(67)	$	(98)	$	(113)	$	(12)	$	(28)	$	(55)	$	(208)	$	528


Selected balance sheet data:
Average loans and leases	$	1,528	$	1,804	$	1,711	$	1,794	$	1,805	$	1,815	$	1,961	$	1,843	$	1,836
Average assets	$	46,006	$	46,510	$	51,422	$	54,223	$	60,813	$	55,561	$	55,561	$	56,544	$	53,487


THE BANK OF NEW YORK MELLON CORPORATION
EXPLANATION OF GAAP AND NON-GAAP FINANCIAL MEASURES





BNY Mellon has included in this Revised Financial Supplement the adjusted pre-tax operating margin – Non-GAAP, which is the pre-tax operating margin for the Investment and Wealth Management business segment, net of distribution and servicing expense that was passed to third parties who distribute or service our managed funds. We believe that this measure is useful when evaluating the performance of the Investment and Wealth Management business relative to industry competitors.




Pre-tax operating margin reconciliation - Investment and Wealth Management business
	Quarters																					Full years
(dollars in millions)	3Q21			2Q21			1Q21			4Q20			3Q20			2Q20			1Q20			FY20			FY19
Income before income taxes – GAAP	$	348		$	326		$	278		$	311		$	245		$	221		$	194		$	971		$	1,061

Total revenue – GAAP	$	1,032		$	999		$	991		$	990		$	918		$	886		$	898		$	3,692		$	3,707
Less: Distribution and servicing expense	76			74			75			76			85			86			91			338			376
Adjusted total revenue, net of distribution and servicing expense – Non-GAAP	$	956		$	925		$	916		$	914		$	833		$	800		$	807		$	3,354		$	3,331

Pre-tax operating margin – GAAP (a)	34		%	33		%	28		%	32		%	27		%	25		%	22		%	26		%	29		%
Adjusted pre-tax operating margin, net of distribution and servicing expense – Non-GAAP (a)	36		%	35		%	30		%	34		%	29		%	28		%	24		%	29		%	32		%
(a) Income before income taxes divided by total revenue.


THE BANK OF NEW YORK MELLON CORPORATION
EXPLANATION OF INCOME STATEMENT CHANGES

In conjunction with reorganizing our business segments in the fourth quarter of 2021, net securities gains (losses) were reclassified to investment and other income on the consolidated income statement. Investment and other income was renamed investment and other revenue.

The reclassifications had no impact on consolidated total revenue. Prior periods were reclassified to be comparable.

	Quarters														Full years
(in millions)	3Q21		2Q21		1Q21		4Q20		3Q20		2Q20		1Q20		FY20		FY19
Investment and other income – previously reported	$	127	$	89	$	9	$	43	$	61	$	132	$	47	$	283	$	1,114	(a)
Add: Net securities gains (losses)	2		2		—		6		9		9		9		33		(18)
Investment and other revenue	$	129	$	91	$	9	$	49	$	70	$	141	$	56	$	316	$	1,096
(a) Investment and other income for full year 2019 reflects the first quarter 2021 reporting changes described below. This amount was not previously published.


In order to combine items of a similar nature within total revenue and to simplify our income statement presentation, in the first quarter of 2021 we made the following reporting changes. The reclassifications had no impact on consolidated total revenue or total revenue for the business segments. Prior periods were reclassified to be comparable with the current period presentation.
• Other trading revenue was reclassified from foreign exchange and other trading revenue to investment and other income.
• Foreign exchange and other trading revenue was renamed foreign exchange revenue.
• The impact of foreign currency remeasurement was reclassified from investment and other income to foreign exchange revenue.
• Income (loss) from consolidated investment management funds was reclassified to investment and other income.
• Investment and other income was reclassified from fee revenue to other revenue. Other revenue includes investment and other income and net securities gains (losses).

																	Full year
(in millions)																	FY19
Foreign exchange and other trading revenue – previously reported																	$	654


Foreign exchange revenue																	$	564

Total fee revenue – previously reported																	$	13,236



Total fee revenue – revised																	$	12,178

Investment and other income – previously reported																	$	968



Investment and other income – revised																	$	1,114

Fee and other revenue – previously reported																	$	13,218

Fee and other revenue – revised																	$	13,274












Other segment
Fee revenue – previously reported																	$	853



Fee (loss) revenue – revised																	$	(24)

Net securities (losses) – previously reported																	$	(16)



Investment and other revenue																	$	861


The Bank of New York Mellon Corporation

Revised Financial Supplement
(Business Resegmentation)

Seven Quarter Trend Through 3Q21
And Full Years 2020 and 2019