Ratio of earnings to fixed charges |
Ratio of earnings to fixed charges - Group | |||||||||||||
in | 6M12 | 2011 | 2010 | 2009 | 2008 | 2007 | |||||||
Ratio of earnings to fixed charges (CHF million) | |||||||||||||
Income/(loss) from continuing operations before taxes, noncontrolling interests, extraordinary items and cumulative effect of accounting changes | 1,329 | 3,461 | 7,487 | 8,077 | (14,902) | 13,740 | |||||||
Income from equity method investments | (65) | (138) | (164) | (56) | 82 | (196) | |||||||
Pre-tax earnings/(loss) from continuing operations | 1,264 | 3,323 | 7,323 | 8,021 | (14,820) | 13,544 | |||||||
Fixed charges: | |||||||||||||
Interest expense | 8,841 | 16,569 | 18,992 | 18,397 | 39,403 | 54,108 | |||||||
Interest portion of rentals 1 | 314 | 606 | 601 | 590 | 574 | 584 | |||||||
Preferred dividend requirements | 114 | 216 | 162 | 131 | 60 | 0 | |||||||
Total fixed charges | 9,269 | 17,391 | 19,755 | 19,118 | 40,037 | 54,692 | |||||||
Pre-tax earnings before fixed charges | 10,533 | 20,714 | 27,078 | 27,139 | 25,217 | 68,236 | |||||||
Noncontrolling interests | 202 | 837 | 822 | (313) | (2,619) | 4,738 | |||||||
Earnings before fixed charges and provision for income taxes | 10,331 | 19,877 | 26,256 | 27,452 | 27,836 | 63,498 | |||||||
Ratio of earnings to fixed charges | 1.11 | 1.14 | 1.33 | 1.44 | 0.70 | 2 | 1.16 | ||||||
1 Amounts reflect a portion of premises and real estate expenses deemed representative of the interest factor. 2 The coverage deficiency was CHF 12,201 million for the year ended December 31, 2008. |