Bank of New York Mellon Corp
For the period ended Mar 31, 2024. Filed May 3, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 3, 2024
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Consolidated Comprehensive Income Statement (unaudited)
The Bank of New York Mellon Corporation (and its subsidiaries)
Consolidated Comprehensive Income Statement(unaudited)
| Quarter ended | |||
|---|---|---|---|
| March 31, 2024 | Dec. 31, 2023 | March 31, 2023 | |
| (in millions) | |||
| Net income (a) | $1,027 | $206 | $982 |
| Other comprehensive income (loss), net of tax: | |||
| Foreign currency translation adjustments | (91) | 257 | 103 |
| Unrealized gain (loss) on assets available-for-sale: | |||
| Unrealized gain arising during the period | 103 | 698 | 317 |
| Reclassification adjustment | 1 | 37 | 1 |
| Total unrealized gain on assets available-for-sale | 104 | 735 | 318 |
| Defined benefit plans: | |||
| Net (loss) arising during the period | — | (75) | — |
| Foreign exchange adjustment | — | (1) | — |
| Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost | 3 | (2) | (3) |
| Total defined benefit plans | 3 | (78) | (3) |
| Net unrealized gain (loss) on cash flow hedges | 1 | (2) | 5 |
| Total other comprehensive income, net of tax (b) | 17 | 912 | 423 |
| Total comprehensive income | 1,044 | 1,118 | 1,405 |
| Net (income) loss attributable to noncontrolling interests | (2) | 2 | — |
| Other comprehensive loss attributable to noncontrolling interests | — | — | — |
| Comprehensive income applicable to shareholders of The Bank of New York Mellon Corporation | $1,042 | $1,120 | $1,405 |
(a)Prior periods were restated to reflect the retrospective application of adopting new accounting guidance related to our investments in renewable energy projects using the proportional amortization method (ASU 2023-02). See Note 2 of the Notes to Consolidated Financial Statements for additional information.
(b)Other comprehensive income (loss) attributable to The Bank of New York Mellon Corporation shareholders was $17 million for the quarter ended March 31, 2024, $912 million for the quarter ended Dec. 31, 2023 and $423 million for the quarter ended March 31, 2023.
BNY Mellon 49
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