EX-7 12 exhibit7.htm Exhibit7

 

 

Exhibit 7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statement Regarding Ratio of Earnings to Fixed Charges

 

The following table sets forth UBS AG’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 fixed charges and preferred share dividends are not presented as there were no mandatory preferred share dividends in any of the periods indicated.

 

 

 

For the year ended

CHF million, except for ratio

31.12.15

31.12.14

31.12.13

31.12.12

31.12.11

Pre-tax earnings from continuing operations

 

5,349

 

2,424

 

3,287

 

(1,851)

 

5,025

Add: Fixed charges

7,052

7,293

8,030

10,688

11,831

Pre-tax earnings before fixed charges

12,401

9,717

11,317

8,836

16,856

Fixed charges:

 

 

 

 

 

      Interest expense

6,449

6,639

7,351

9,990

11,143

      Other1

603

653

679

698

688

Total fixed charges

7,052

7,293

8,030

10,688

11,831

Ratio of earnings to fixed charges2

1.76

1.33

1.41

0.833

1.42

 

 

1 Other fixed charges relate to the interest component of rental expense.   2 A ratio of earnings to combined fixed charges and preference security dividend requirements is not presented as it equals the ratio of earnings to fixed charges.   3 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.