Bank of New York Mellon Corp (BK) [Rocket]

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19	Dec-31-18	Dec-31-17	Dec-31-16	Dec-31-15
	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K
Fee and other revenue
Investment services fees	8,529	8,284	8,047	7,900
Investment management and performance fees	3,299	3,588	3,367	3,389	3,647	3,539	3,350	3,438
Foreign exchange revenue	822	799	774
Financing-related fees	175	194	212	196	207	216	219	220
Distribution and servicing fees	130	112	115	129
Total fee revenue	12,955	12,977	12,515	12,178	12,842	12,162	11,998	11,999
Total fee and other revenue	12,873	13,313	12,831	13,274	12,794	12,165	12,073	12,082

Net interest revenue
Interest revenue	7,118	2,845	4,109	7,548	6,432	4,382	3,575	3,326
Interest expense	3,614	227	1,132	4,360	2,821	1,074	437	300
Net interest revenue	3,504	2,618	2,977	3,188	3,611	3,308	3,138	3,026
Total revenue	16,338	16,162	15,472	16,487	16,416	15,497	15,222	14,948
Total revenue growth	1.1%	4.5%	-6.2%	0.4%	5.9%	1.8%	1.8%	-4.0%
Provision for credit losses	39	-231	336	-25	-11	-24	-11	160

Noninterest expense
Staff	6,800	6,337	5,966	6,063	6,145	6,033	5,809	5,837
Software and equipment	1,657	1,478	1,370	1,222	1,062	985	647	627
Professional, legal and other purchased services	1,527	1,459	1,403	1,345	1,334	1,276	1,186	1,230
Net occupancy	514	498	581	564	630	570	592	600
Sub-custodian and clearing	485	505	460	450	450	414	400
Distribution and servicing	343	298	336	374	406	419	405	381
Business development	152	107	105	213	228	229	245	267
Bank assessment charges	126	133	124	125	170	220	219	157
Amortization of intangible assets	67	82	104	117	180	209	237	261
Other	659	617	555	427	606	602	536	804
Total noninterest expense	13,010	11,514	11,004	10,900	11,211	10,957	10,523	10,799

Income
Income before income taxes	3,328	4,648	4,468	5,587	5,192	4,610	4,725	4,235
Provision for income taxes	768	877	842	1,120	938	496	1,177	1,013
Tax rate	23.1%	18.9%	18.8%	20.0%	18.1%	10.8%	24.9%	23.9%
Net income	2,560	3,771	3,626	4,467	4,254	4,114	3,548	3,222
Net (income) loss attributable to noncontrolling interests related to consolidated investment management funds	13.0	-12.0	-9.0	-26.0	12.0	-24.0	-1.0	-64.0
Net income applicable to shareholders of The Bank of New York Mellon Corporation	2,573	3,759	3,617	4,441	4,266	4,090	3,547	3,158
Preferred stock dividends	-211	-207	-194	-169	-169	-175	-122	-105
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	2,362	3,552	3,423	4,272	4,097	3,915	3,425	3,053

Net income applicable to common shareholders of The Bank of New York Mellon Corporation used for the earnings per share calculation
Net income applicable to common shareholders of The Bank of New York Mellon Corporation	2,362	3,552	3,423	4,272	4,097	3,915	3,425	3,053
Less: Earnings allocated to participating securities		2	6	18	27	43	52	43
Net income applicable to common shareholders of The Bank of New York Mellon Corporation after required adjustment for the calculation of basic and diluted earnings per common share	2,362	3,550	3,417	4,254	4,070	3,872	3,373	3,010

Average common shares and equivalents outstanding of The Bank of New York Mellon Corporation
Basic (shares)	811	852	891	940	1,003	1,034	1,066	1,105
Common stock equivalents (shares)	4	5	2	5	7	13	16	17
Less: Participating securities (shares)	0	0	-1	-2	-3	-7
Diluted (shares)	815	856	893	943	1,007	1,040	1,072	1,113

Anti-dilutive securities (shares)
Earnings per share applicable to common shareholders of The Bank of New York Mellon Corporation
Basic (usd per share)	$2.91	$4.17	$3.84	$4.53	$4.06	$3.74	$3.16	$2.73
Diluted (usd per share)	$2.90	$4.14	$3.83	$4.51	$4.04	$3.72	$3.15	$2.71