BNY Mellon adopts ASU 2023-02 for renewable energy tax credits, realigns segment reporting

Bank of New York Mellon Corp

Adopted ASU 2023-02 on Jan. 1, 2024, retrospectively for renewable energy investments.
Revised historical segment data for Q4 2022 through 2023 and full years 2022-2023.
Business realignments of similar products/services effective Q1 2024; no impact on consolidated results.
ASU 2023-02 affected investment revenue and income tax provision but not material to net income or EPS.
Exhibit 99.1 provides restated quarterly and annual financial supplements.

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