BK » Topics » ITEM 7. MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

These excerpts taken from the BK 10-K filed Feb 27, 2009.

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The information required by this Item is set forth in the following portions of the Annual Report: “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Note 22 of Notes to Consolidated Financial Statements, which portions are incorporated herein by reference.

ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

STYLE="margin-top:12px;margin-bottom:0px">The information required by this Item is set forth in the following portions of the Annual Report: “Management’s Discussion and Analysis of Financial Condition
and Results of Operations” and Note 22 of Notes to Consolidated Financial Statements, which portions are incorporated herein by reference.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

STYLE="margin-top:10px;margin-bottom:0px">Results of Operations

 

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FACE="ARIAL" SIZE="2">General

In this Annual Report, references to “our,” “we,” “us,” the
“Company,” and similar terms for periods on or after July 1, 2007 refer to The Bank of New York Mellon Corporation and prior to July 1, 2007 refer to The Bank of New York Company, Inc.

STYLE="margin-top:13px;margin-bottom:0px">The Company’s actual results of future operations may differ from those estimated or anticipated in certain forward-looking statements contained herein for reasons
which are discussed below and under the heading “Forward Looking Statements.” When used in this report, words such as “estimate,” “forecast,” “project,” “anticipate,” “confident,”
“target,” “expect,” “intend,” “continue,” “seek,” “believe,” “plan,” “goal,” “could,” “should,” “may,” “will,”
“strategy,” “synergies,” “opportunities,” “trends,” and words of similar meaning, signify forward-looking statements in addition to statements specifically identified as forward-looking statements.


Certain business terms used in this document are defined in the Glossary.

SIZE="2">The following should be read in conjunction with the Consolidated Financial Statements included in this report. Investors should also read the section entitled “Forward-looking Statements.”

STYLE="margin-top:13px;margin-bottom:0px">How we reported results

On July 1, 2007, The Bank of New York
Company, Inc. and Mellon Financial Corporation (“Mellon Financial”) merged into The Bank of New York Mellon Corporation (together with its consolidated subsidiaries, the “Company”), with the Company being the surviving entity.

The merger transaction resulted in The Bank of New York Company, Inc. shareholders receiving 0.9434 shares of the Company’s common stock for each
share of The Bank of New York Company, Inc. common stock outstanding at the closing date of the merger. All legacy The Bank of New York Company, Inc. earnings per share and common stock outstanding amounts in this Annual Report have been restated to
reflect this exchange ratio. For accounting and financial reporting purposes the merger was accounted for as a purchase of Mellon Financial. All information in this Annual Report is reported on a continuing operations basis, unless otherwise noted.
For a description of discontinued operations, see Note 4 in the Notes to Consolidated Financial Statements.

 

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Throughout this Annual Report, certain measures, which are
noted, exclude certain items. We believe the presentation of this information enhances investors’ understanding of period-to-period results. In addition, these measures reflect the principal basis on which our management monitors financial
performance. See “Supplemental information – Explanation of non-GAAP financial measures”.

Certain amounts are presented on a fully taxable
equivalent (FTE) basis. We believe that this presentation allows for comparison of amounts arising from both taxable and tax-exempt sources and is consistent with industry practice. The adjustment to an FTE basis has no impact on net income. Results
for 2007 reflect six months of The Bank of New York Mellon Corporation and six months of legacy The Bank of New York Company, Inc. Results prior to 2007 reflect legacy The Bank of New York Company, Inc. only. For additional information regarding the
merger, see Note 3 of Notes to Consolidated Financial Statements.

This excerpt taken from the BK 10-K filed Feb 28, 2008.

ITEM 7.  MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The information required by this Item is set forth in the following portions of the Annual Report: “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Note 21 of Notes to Consolidated Financial Statements, which portions are incorporated herein by reference.

 

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