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. |