Business Context and Reporting Period
Company: The Bank of New York Mellon Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: October 19, 2010
Reporting Period: Third Quarter 2010
This filing announces the release of the Registrant's results of operations for the third quarter of 2010. On October 19, 2010, the company conducted a conference call and webcast regarding these results. Detailed financial information is provided in the "Quarterly Earnings Review" (Exhibit 99.1) and "Financial Trends" (Exhibit 99.2), which are furnished but not filed for purposes of Section 18 of the Securities Exchange Act of 1934.
Key Financial Metrics
The text of this Form 8-K serves as a notification of the earnings release and does not contain specific numerical data regarding revenue, profit, cash flow, margins, debt, or liquidity. These metrics are contained within the furnished exhibits (99.1 and 99.2) referenced in the filing.
Material Changes
The filing text does not provide specific details on material changes versus the prior comparable period. It notes that the furnished exhibits contain non-GAAP financial measures intended to facilitate comparisons with prior periods and reflect the principal basis on which management monitors financial performance.
Guidance, Outlook, and Management Commentary
Management Commentary: Management believes the non-GAAP measures included in the exhibits are useful for analyzing financial results and trends of ongoing operations. They assert that these measures allow investors to more appropriately evaluate the impact of revenues from both taxable and tax-exempt sources.
Guidance and Risks: The filing text does not contain specific forward-looking guidance, risk factors, or contingencies beyond the general reference to the earnings review materials.
Important Facts for Investor Verification
- Verify the specific revenue, net income, and earnings per share figures in the furnished "Quarterly Earnings Review" (Exhibit 99.1).
- Review the "Financial Trends" (Exhibit 99.2) for non-GAAP measures and comparisons to prior periods.
- Note that the exhibits are "furnished" and not "filed," meaning they are not incorporated by reference into other filings under the Securities Act of 1933.
- Confirm the details of the conference call and webcast held on October 19, 2010, for management's qualitative commentary.