Exhibit 12.1
Ratio of earnings to fixed charges (Group)
Ratio of earnings to fixed charges | |||||||||||||
in | 6M18 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||
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 | 2,106 | 1,793 | (2,266) | (2,422) | 3,627 | 4,096 | |||||||
Income/(loss) from equity method investments | (121) | (233) | (208) | (243) | (244) | (251) | |||||||
Pre-tax earnings/(loss) from continuing operations | 1,985 | 1,560 | (2,474) | (2,665) | 3,383 | 3,845 | |||||||
Fixed charges: | |||||||||||||
Interest expense | 6,363 | 10,500 | 9,812 | 10,042 | 10,027 | 11,441 | |||||||
Interest portion of rentals 1 | 267 | 537 | 530 | 538 | 627 | 642 | |||||||
Preferred dividend requirements | 0 | 0 | 0 | 0 | 53 | 236 | |||||||
Total fixed charges | 6,630 | 11,037 | 10,342 | 10,580 | 10,707 | 12,319 | |||||||
Pre-tax earnings before fixed charges | 8,615 | 12,597 | 7,868 | 7,915 | 14,090 | 16,164 | |||||||
Noncontrolling interests | 5 | 35 | 3 | (1) | 449 | 639 | |||||||
Earnings before fixed charges and provision for income taxes | 8,610 | 12,562 | 7,865 | 7,916 | 13,641 | 15,525 | |||||||
Ratio of earnings to fixed charges | 1.30 | 1.14 | 0.76 | 0.75 | 1.27 | 1.26 | |||||||
1 Amounts reflect a portion of premises and real estate expenses deemed representative of the interest factor. |