Summary
The Bank of New York Mellon Corporation (BK) filed an 8-K on April 18, 2012, to announce its first-quarter 2012 financial results. This filing primarily serves to furnish the press release detailing these results, which is included as Exhibit 99.1. Investors should note that while this press release contains important operational and financial information, it also includes non-GAAP financial measures that management believes are useful for analyzing ongoing operations and performance trends. The company emphasizes that the press release is furnished, not filed, meaning it is not subject to the liabilities of Section 18 of the Securities Exchange Act of 1934. Management's rationale for using non-GAAP measures is to provide a clearer comparison with prior periods and to better reflect how the company's performance is monitored internally, particularly concerning revenues from both taxable and tax-exempt sources. Investors are encouraged to review the press release for a detailed understanding of BK's first-quarter performance.
Key Highlights
- 1BK announced its first-quarter 2012 financial results via press release filed on April 18, 2012.
- 2The press release, included as Exhibit 99.1, is furnished to the SEC and not officially filed under Section 18 of the Exchange Act.
- 3The filing indicates the use of non-GAAP financial measures in the accompanying press release.
- 4Management believes these non-GAAP measures offer valuable insights into ongoing operations and financial trends.
- 5The non-GAAP presentation is intended to facilitate historical comparisons and reflect management's internal performance monitoring.
- 6Specific attention is drawn to the presentation of revenues from both taxable and tax-exempt sources.
- 7The filing does not contain specific financial figures within the 8-K document itself, directing investors to the furnished press release for details.