UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
[ ü ] Annual Report Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
For the fiscal year ended December 31, 2018
or
[ ] Transition Report Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
For the transition period from _______ to _______
Commission File No. 001-35651
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
THE BANK OF NEW YORK MELLON CORPORATION 401(k) SAVINGS PLAN
BNY Mellon Center
500 Grant Street
Pittsburgh, PA 15258-0001
B. Name of issuer of the securities held pursuant to the plan
and the address of its principal executive office:
THE BANK OF NEW YORK MELLON CORPORATION
240 Greenwich Street
New York, New York 10286
The Bank of New York Mellon Corporation 401(k) Savings Plan
Form 11-K | |
Table of Contents | |
Page | |
Report of Independent Registered Public Accounting Firm | 2 |
Statements of Net Assets Available for Plan Benefits | 4 |
Statements of Changes in Net Assets Available for Plan Benefits | 4 |
Notes to Financial Statements | 5 |
Supplemental Schedule: | |
Schedule 1: Schedule H, Line 4i - Schedule of Assets (Held at End of Year) | 22 |
Index to Exhibits | 23 |
Signatures | 24 |
Report of Independent Registered Public Accounting Firm
To the Plan Participants and Plan Administrator
The Bank of New York Mellon Corporation 401(k) Savings Plan:
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for plan benefits of The Bank of New York Mellon Corporation 401(k) Savings Plan (the Plan) as of December 31, 2018 and 2017 , the related statements of changes in net assets available for plan benefits for the years then ended, and the related notes (collectively the financial statements). In our opinion, the financial statements present fairly, in all material respects, the net assets available for plan benefits of the Plan as of December 31, 2018 and 2017 , and the changes in net assets available for plan benefits for the years then ended, in conformity with U.S. generally accepted accounting principles.
Basis for Opinion
These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.
Accompanying Supplemental Information
The supplemental information in the accompanying Schedule H, line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2018 , has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental information is the responsibility of Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ KPMG LLP
We have not been able to determine the specific year that we began serving as the Plan's auditor, however, we are aware that we have served as the Plan's auditor since at least 1989.
Pittsburgh, Pennsylvania
June 21, 2019
The Bank of New York Mellon Corporation 401(k) Savings Plan
Statements of Net Assets Available for Plan Benefits
December 31, | ||||
(in dollars) | 2018 | 2017 | ||
Assets: | ||||
Investments held in Master Trust, at fair value | $ | 5,805,994,844 | $ | 6,235,788,787 |
Fully benefit-responsive investment contracts held in Master Trust, at contract value | 343,301,813 | 331,309,614 | ||
Notes receivable from participants | 87,902,354 | 88,112,798 | ||
Employer contributions receivable | 55,189,404 | 54,947,951 | ||
Cash | 323,311 | 452,240 | ||
Pending investments sales and other receivables | 3,511,873 | 3,096,476 | ||
Total assets | 6,296,223,599 | 6,713,707,866 | ||
Liabilities: | ||||
Pending investment purchases and other liabilities | 10,179,562 | 11,104,926 | ||
Total liabilities | 10,179,562 | 11,104,926 | ||
Net assets available for plan benefits | $ | 6,286,044,037 | $ | 6,702,602,940 |
See accompanying Notes to Financial Statements. |
The Bank of New York Mellon Corporation 401(k) Savings Plan
Statements of Changes in Net Assets Available for Plan Benefits
Year ended December 31, | ||
(in dollars) | 2018 | 2017 |
(Deductions) additions to net assets available for plan benefits: | ||||
Net investment (loss) income from Master Trust: | ||||
Net (depreciation) appreciation in fair value of investments | $ | (424,271,993) | $ | 905,219,301 |
Dividends | 20,633,790 | 17,786,551 | ||
Interest | 2,837 | 7,027 | ||
Total net investment (loss) income from Master Trust | (403,635,366) | 923,012,879 | ||
Securities lending income from Master Trust | 140,269 | - | ||
Net investment (loss) income | (403,495,097) | 923,012,879 | ||
Contributions: | ||||
Participant contributions | 231,527,472 | 216,805,966 | ||
Employer contributions | 166,473,073 | 162,212,279 | ||
Rollover contributions | 33,094,999 | 32,127,665 | ||
Total contributions | 431,095,544 | 411,145,910 | ||
Interest income on notes receivable from participants | 4,149,531 | 3,490,286 | ||
Total additions | 31,749,978 | 1,337,649,075 | ||
Deductions from net assets available for plan benefits: | ||||
Benefits paid to participants | 445,488,435 | 358,043,799 | ||
Administrative expenses | 2,820,446 | 2,645,810 | ||
Total deductions | 448,308,881 | 360,689,609 | ||
Net (decrease) increase in net assets available for plan benefits | (416,558,903) | 976,959,466 | ||
Net assets available for plan benefits: | ||||
At beginning of year | 6,702,602,940 | 5,725,643,474 | ||
At end of year | $ | 6,286,044,037 | $ | 6,702,602,940 |
See accompanying Notes to Financial Statements. |
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The Bank of New York Mellon Corporation published this content on 21 June 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 June 2019 02:04:03 UTC