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Consolidated Statement of Changes in Equity - USD ($)
$ in Millions
Total
Share capital
Share premium
Treasury shares
Retained earnings
Other comprehensive income recognized directly in equity, net of tax
 [1]
of which: foreign currency translation
of which: financial assets at fair value through other comprehensive income
of which: cash flow hedges
of which: cost of hedging
Total equity attributable to shareholders
Non-controlling interests
UBS AG
UBS AG
Share capital
UBS AG
Share premium
UBS AG
Retained earnings
UBS AG
Other comprehensive income recognized directly in equity, net of tax
 [1]
UBS AG
of which: foreign currency translation
UBS AG
of which: financial assets at fair value through other comprehensive income
UBS AG
of which: cash flow hedges
UBS AG
of which: cost of hedging
UBS AG
Total equity attributable to shareholders
UBS AG
Non-controlling interests
Balance before the adoption of IFRS 9 and IFRS 15 and retained earnings restatement $ 52,554 $ 338 $ 23,598 $ (2,210) $ 25,932 $ 4,838 $ 4,466 $ 13 $ 360   $ 52,495 $ 59 $ 52,046 $ 338 $ 24,633 $ 22,189 $ 4,828 $ 4,455 $ 13 $ 360   $ 51,987 $ 59
Balance before the adoption of IFRIC 23 at Dec. 31, 2017 51,906 338 23,598 (2,210) 25,357 4,764 4,466 (61) 360   51,847 59 51,397 338 24,633 21,614 4,754 4,455 (61) 360   51,338 59
Issuance of share capital 0 0                 0   0                 0  
Acquisition of treasury shares (1,608)     (1,608) [2]             (1,608)                        
Delivery of treasury shares under share-based compensation plans 128   (1,009) 1,137             128                        
Other disposal of treasury shares 50     50 [2]             50                        
Premium on shares issued and warrants exercised 22   22               22   34   34             34  
Share-based compensation expensed in the income statement 676   676               676                        
Tax (expense) / benefit 4   4               4   (5)   (5)             (5)  
Dividends (2,450)   (2,440) [3]               (2,440) (10) (3,108)     (3,098)           (3,098) (10)
Translation effects recognized directly in retained earnings 0       (21) 21   3 18   0   0     (21) 21   3 18   0  
New consolidations / (deconsolidations) and other increases / (decreases) 115   (7)               (7) 122 115   (7)             (7) 122
Total comprehensive income for the year 4,231       5,080 (855) (541) (45) (269)   4,225 5 3,967     4,790 (829) (515) (45) (269)   3,961 5
of which: net profit / (loss) 4,522       4,516           4,516 7 4,113     4,107           4,107 7
of which: other comprehensive income (OCI) that may be reclassified to the income statement, net of tax (855)         (855) (541) (45) (269)   (855)   (829)       (829) (515) (45) (269)   (829)  
of which: OCI that will not be reclassified to the income statement, net of tax - defined benefit plans 56       56           56   175     175           175  
of which: OCI that will not be reclassified to the income statement, net of tax - own credit 509       509           509   509     509           509  
of which: OCI that will not be reclassified to the income statement, net of tax - foreign currency translation (1)                   0 (1) (1)                 0 (1)
Balance before the adoption of IFRIC 23 at Dec. 31, 2018 53,071 338 20,843 (2,631) 30,416 3,930 3,924 (103) 109   52,896 176 52,400 338 24,655 23,285 3,946 3,940 (103) 109   52,224 176
Balance at Dec. 31, 2018 53,060 338 20,843 (2,631) 30,405 3,930 3,924 (103) 109   52,885 176 52,389 338 24,655 23,274 3,946 3,940 (103) 109   52,213 176
Issuance of share capital 0 0                 0   0                 0  
Acquisition of treasury shares (1,771)     (1,771) [2]             (1,771)                        
Delivery of treasury shares under share-based compensation plans 97   (886) 983             97                        
Other disposal of treasury shares 92   (2) 94 [2]             92                        
Premium on shares issued and warrants exercised 29   29               29   0   0             0  
Share-based compensation expensed in the income statement 619   619               619                        
Tax (expense) / benefit 11   11               11   11   11             11  
Dividends (2,552)   (2,544) [3]               (2,544) (8) (3,258)     (3,250)           (3,250) (8)
Translation effects recognized directly in retained earnings 0       (9) 9   0 9   0   0     (9) 9   0 9   0  
New consolidations / (deconsolidations) and other increases / (decreases) (1)   (6)               (6) 5 (3)   (7)             (7) 5
Total comprehensive income for the year 5,091       3,726 1,363 104 117 1,143   5,089 2 4,756     3,403 1,351 92 117 1,143   4,754 2
of which: net profit / (loss) 4,310       4,304           4,304 6 3,971     3,965           3,965 6
of which: other comprehensive income (OCI) that may be reclassified to the income statement, net of tax 1,363         1,363 104 117 1,143   1,363   1,351       1,351 92 117 1,143   1,351  
of which: OCI that will not be reclassified to the income statement, net of tax - defined benefit plans (186)       (186)           (186)   (170)     (170)           (170)  
of which: OCI that will not be reclassified to the income statement, net of tax - own credit (392)       (392)           (392)   (392)     (392)           (392)  
of which: OCI that will not be reclassified to the income statement, net of tax - foreign currency translation (4)                   0 (4) (4)                 0 (4)
Balance at Dec. 31, 2019 54,675 [4] 338 18,064 (3,326) 34,122 5,303 4,028 14 1,260   54,501 174 53,896 338 24,659 23,419 5,306 4,032 14 1,260   53,722 174
Issuance of share capital 0                   0   0                 0  
Acquisition of treasury shares (1,584)     (1,584) [2]             (1,584)                        
Delivery of treasury shares under share-based compensation plans 90   (628) 719             90                        
Other disposal of treasury shares 112   (11) 123 [2]             112                        
Premium on shares issued and warrants exercised 0                   0   (4)   (4) [5]             (4)  
Share-based compensation expensed in the income statement 691   691 [6]               691                        
Tax (expense) / benefit 18   18               18   1   1             1  
Dividends (2,613)   (1,304) [3]   (1,304) [3]           (2,607) (6) (3,854)     (3,848)           (3,848) (6)
Translation effects recognized directly in retained earnings 0       (49) 49   0 49   0   0     (49) 49   0 49   0  
Share of changes in retained earnings of associates and joint ventures (40)       (40)           (40)   (40)     (40)           (40)  
New consolidations / (deconsolidations) and other increases / (decreases) [7] 103   (76)     65 65       (12) 115 103   (76)   65 65       (12) 115
Total comprehensive income for the year 8,312       6,046 2,230 1,095 136 1,011 $ (13) 8,276 36 7,970     5,769 2,165 1,030 136 1,011 $ (13) 7,934 36
of which: net profit / (loss) 6,572       6,557           6,557 15 6,211     6,196           6,196 15
of which: other comprehensive income (OCI) that may be reclassified to the income statement, net of tax 2,230         2,230 1,095 136 1,011 (13) 2,230   2,165       2,165 1,030 136 1,011 (13) 2,165  
of which: OCI that will not be reclassified to the income statement, net of tax - defined benefit plans (218)       (218)           (218)   (134)     (134)           (134)  
of which: OCI that will not be reclassified to the income statement, net of tax - own credit (293)       (293)           (293)   (293)     (293)           (293)  
of which: OCI that will not be reclassified to the income statement, net of tax - foreign currency translation 21                   0 21 21                 0 21
Balance at Dec. 31, 2020 $ 59,765 $ 338 $ 16,753 $ (4,068) $ 38,776 $ 7,647 $ 5,188 $ 151 $ 2,321 $ (13) $ 59,445 $ 319 $ 58,073 $ 338 $ 24,580 $ 25,251 $ 7,585 $ 5,126 $ 151 $ 2,321 $ (13) $ 57,754 $ 319
[1]
Excludes other comprehensive income related to defined benefit plans and own credit, which is recorded directly in Retained earnings
[2]
Includes treasury shares acquired and disposed of by the Investment Bank in its capacity as a market-maker with regard to UBS shares and related derivatives, and to hedge certain issued structured debt instruments. These acquisitions and disposals are reported based on the sum of the net monthly movements.
[3]
Reflects the payment of an ordinary cash dividend of USD 0.73 (2019: CHF 0.70, 2018: CHF 0.65) per dividend-bearing share. From 2020 onward, Swiss tax law effective 1 January 2020 requires that Switzerland-domiciled companies with shares listed on a stock exchange pay no more than 50% of dividends from capital contribution reserves, with the remainder required to be paid from retained earnings.
[4]
Refer to the “Accounting and financial reporting” and “Consolidated financial statements” sections of this report for information on the restatement of comparative information, where applicable
[5]
Includes decreases related to recharges by UBS Group AG for share-based compensation awards granted to employees of UBS AG or its subsidiaries.
[6]
During 2020, UBS modified the conditions for continued vesting of certain outstanding deferred compensation awards for qualifying employees, resulting in an increase of approximately USD 110 million in share premium for equity-settled awards. Refer to Note 1b for more information.
[7]
Mainly relates to the establishment of a banking partnership with Banco do Brasil. Refer to Note 29 for more information.