8-KEarnings & ResultsExhibits & Filings

Bank of New York Mellon Corp 8-K Report, Financial Results (Apr 27, 2009)

Filed April 27, 2009For Securities:BKBK-PKBNYBNY-PK

Summary

This Form 8-K filing by The Bank of New York Mellon Corporation (BK) on April 27, 2009, primarily announces the company's first-quarter 2009 results of operations and financial condition. The core of the report is the "Quarterly Earnings Review" and "Financial Trends" information, which were made available on the company's website in conjunction with an April 21, 2009 conference call and webcast. Investors should note that the provided exhibits (99.1 and 99.2) contain information that may be considered non-GAAP financial measures. BNY Mellon's management states that these measures are useful for analyzing ongoing operations, comparing periods, and evaluating the impact of taxable and tax-exempt revenues, serving as the principal basis for performance monitoring. These documents are furnished, not filed, and are not incorporated into other SEC filings.

Key Highlights

  • 1BK announced its first-quarter 2009 financial results and operational performance on April 21, 2009.
  • 2The company held a conference call and webcast to discuss these results.
  • 3Detailed financial information was provided via a "Quarterly Earnings Review" (Exhibit 99.1) and "Financial Trends" (Exhibit 99.2) on the company's website.
  • 4These exhibits contain information management considers "non-GAAP financial measures."
  • 5Management believes these non-GAAP measures offer useful insights for investors regarding ongoing operations and performance comparisons.
  • 6The exhibits are furnished, not filed, meaning they have a different legal implication under SEC rules.
  • 7The filing date was April 27, 2009, reporting on events from April 21, 2009.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally report The Bank of New York Mellon Corporation's results of operations and financial condition for the first quarter of 2009. It also makes available the detailed materials, such as the Quarterly Earnings Review and Financial Trends, that were discussed during the company's April 21, 2009 conference call and webcast.

The exhibits (99.1 and 99.2) contain information that the company's management believes may constitute 'non-GAAP financial measures.' While management finds these measures useful for analyzing ongoing operations and performance, they are not standard Generally Accepted Accounting Principles (GAAP) figures. The filing explicitly states these exhibits are 'furnished,' not 'filed,' and are not incorporated into other SEC filings, which is a distinction investors should be aware of.

BNY Mellon's management provides these non-GAAP measures because they believe these metrics are useful to the investment community. They are intended to facilitate a better analysis of the financial results and trends of ongoing operations, enable comparisons with prior periods, and allow investors to more appropriately evaluate the impact of revenues from both taxable and tax-exempt sources. Management uses these measures as the principal basis for monitoring financial performance.

The detailed financial information is available in Exhibit 99.1, titled 'The Bank of New York Mellon Quarterly Earnings Review for first quarter 2009,' and Exhibit 99.2, titled 'The Bank of New York Mellon Corporation 1Q 2009 Financial Trends.' These exhibits were made available on the company's website in conjunction with the April 21, 2009, conference call and webcast.