Bank of New York Mellon Corp
For the period ended Jun 30, 2024. Filed Aug 2, 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.
Jun 30, 2024 · Filed Aug 2, 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 · Year-to-date | |||||
|---|---|---|---|---|---|
| June 30, 2024 | March 31, 2024 | June 30, 2023 | June 30, 2024 | June 30, 2023 | |
| (in millions) | |||||
| Net income (a) | $1,170 | $1,027 | $1,073 | $2,197 | $2,055 |
| Other comprehensive income (loss), net of tax: | |||||
| Foreign currency translation adjustments | (30) | (91) | 97 | (121) | 200 |
| Unrealized gain (loss) on assets available-for-sale: | |||||
| Unrealized gain arising during the period | (11) | 103 | (157) | 92 | 160 |
| Reclassification adjustment | 13 | 1 | — | 14 | 1 |
| Total unrealized gain on assets available-for-sale | 2 | 104 | (157) | 106 | 161 |
| Defined benefit plans: | |||||
| Amortization of prior service credit, net loss and initial obligation included in net periodic benefit cost | 3 | 3 | (2) | 6 | (5) |
| Total defined benefit plans | 3 | 3 | (2) | 6 | (5) |
| Net unrealized gain (loss) on cash flow hedges | 1 | 1 | 3 | 2 | 8 |
| Total other comprehensive (loss) income, net of tax (b) | (24) | 17 | (59) | (7) | 364 |
| Total comprehensive income | 1,146 | 1,044 | 1,014 | 2,190 | 2,419 |
| Net (income) loss attributable to noncontrolling interests | (2) | (2) | (1) | (4) | (1) |
| Other comprehensive loss attributable to noncontrolling interests | — | — | — | — | — |
| Comprehensive income applicable to shareholders of The Bank of New York Mellon Corporation | $1,144 | $1,042 | $1,013 | $2,186 | $2,418 |
(a)Results for the quarter ended June 30, 2023 and the six months ended June 30, 2023 were restated to reflect the retrospective application of adopting new accounting guidance in the first quarter of 2024 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 $(24) million for the quarter ended June 30, 2024, $17 million for the quarter ended March 31, 2024, $(59) million for the quarter ended June 30, 2023, $(7) million for the six months ended June 30, 2024 and $364 million for the six months ended June 30, 2023.
BNY 51
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