EX-7 10 d886962dex7.htm EX-7 EX-7

Exhibit 7

Statement Regarding Ratio of Earnings to Fixed Charges

The following table sets forth the ratio of earnings to fixed charges of UBS AG on an IFRS basis for the periods indicated. The ratios are calculated based on earnings from continuing operations. Ratios of earnings to fixed charges and preferred stock dividend requirements are not presented as it equals the ratio of earnings to fixed charges.

 

                                                
            For the year ended  
CHF million, except for ratio         31.12.14         31.12.13         31.12.12        31.12.11         31.12.10   
                

Pre-tax earnings from continuing operations

         2,424         3,287         (1,851 )      5,025         6,983   

Add: Fixed charges

         7,293         8,030         10,688        11,831         13,471   
                

Pre-tax earnings before fixed charges

         9,717         11,317         8,836        16,856         20,454   
                
                

Fixed charges:

                 

Interest expense

         6,639         7,351         9,990        11,143         12,657   

Other

     1         653         679         698        688         814   
                

Total fixed charges

        7,293         8,030         10,688        11,831         13,471   
                
                

Ratio of earnings to fixed charges

         1.33         1.41         0.83 2      1.42         1.52   
                

1   Other fixed charges relate to the interest component of rental expense.  2  For the year ended 31 December 2012 the ratio of earnings to fixed charges was less than 1.00. The amount by which total fixed charges exceeded pre-tax earnings from continuing operations for this period was CHF 1,851 million.