EX-7 2 y77164exv7.htm EX-7 EX-7
Exhibit 7
STATEMENT REGARDING RATIO OF EARNINGS TO FIXED CHARGES
     The following table sets forth UBS’s ratio of earnings to fixed charges on an IFRS basis for the periods indicated. The ratios are calculated based on earnings from continuing operations. Ratios of earnings to combined fixed charges and preferred stock dividend requirements are not presented as there were no preferred share dividends in any of the periods indicated. Prior period amounts have been restated. Refer to “Note 37 Discontinued operations” and “Note 1b Changes in accounting policies comparability and other adjustments” in the financial statements of the Annual Report 2008 for further information.
                                                 
            For the year ended
CHF million, except                            
for ratios           31.12.08   31.12.07   31.12.06   31.12.05   31.12.04
Pre-tax earnings from continuing operations
     1       28 256       (4 385 )     13 654       11 473       9 052  
Add: Fixed charges
             60 672       104 795       81 800       50 576       28 293  
 
Pre-tax earnings before fixed charges
             32 416       100 410       95 454       62 049       37 345  
 
Fixed charges:
                                                
Interest
             59 687       103 775       80 880       49 758       27 484  
Other
     2       985       1 020       920       818       809  
 
Total fixed charges
             60 672       104 795       81 800       50 576       28 293  
 
Ratio of earnings to fixed charges
             0.53       0.96       1.17       1.23       1.32  
 
 
1   Pre-tax earnings from continuing operations includes the elimination of subsidiary, associate and minority interest income and the addition of dividends received from associates. 2 Other fixed charges are the interest component of rental expense.