Financial information

Statement of changes in equity

Search only in Quarterly Reporting Q4 2008

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Statement of changes in equity

	For the year ended
CHF million	31.12.08	31.12.07
Share capital
Balance at the beginning of the year	207	211
Issue of share capital	86	0
Cancellation of second trading line treasury shares	0	(4)
Balance at the end of the year	293	207
Share premium
Balance at the beginning of the year	8,884	9,870
Change in accounting policy	3,549	2,770
Premium on shares issued and warrants exercised	20,003	12
Net premium / (discount) on treasury share and own equity derivative activity	(4,502)	(560)
Employee share and share option plans	(1,961)	898
Tax benefits from deferred compensation awards	(176)	(557)
Transaction costs related to share issuances, net of tax	(423)	0
Balance at the end of the year attributable to UBS shareholders	25,374	12,433
Balance at the end of the year attributable to minority interests	417	556
Balance at the end of the year	25,791	12,989
Net income recognized directly in equity, net of tax
Foreign currency translation
Balance at the beginning of the year	(2,627)	(1,618)
Change in accounting policy	27	4
Movements during the year	(3,901)	(986)
Subtotal - balance at the end of the year attributable to UBS shareholders	(6,501)	(2,600)
Balance at the end of the year attributable to minority interests	(1,095)	(480)
Subtotal - balance at the end of the year	(7,596)	(3,080)
Net unrealized gains / (losses) on financial investments available-for-sale, net of tax
Balance at the beginning of the year	1,471	2,876
Net unrealized gains / (losses) on financial investments available-for-sale	(648)	1,213
Impairment charges reclassified to the income statement	42	14
Realized gains reclassified to the income statement	(524)	(2,638)
Realized losses reclassified to the income statement	6	6
Subtotal - balance at the end of the year attributable to UBS shareholders	347	1,471
Balance at the end of the year attributable to minority interests	2	32
Subtotal - balance at the end of the year	349	1,503
Changes in fair value of derivative instruments designated as cash flow hedges, net of tax
Balance at the beginning of the year	(32)	(443)
Net unrealized gains / (losses) on the revaluation of cash flow hedges	1,836	239
Net realized (gains) / losses reclassified to the income statement	(121)	172
Subtotal - balance at the end of the year attributable to UBS shareholders	1,683	(32)
Balance at the end of the year attributable to minority interests	0	0
Subtotal - balance at the end of the year	1,683	(32)

Net income recognized directly in equity, net of tax - attributable to UBS shareholders	(4,471)	(1,161)
Net income recognized directly in equity - attributable to minority interests	(1,093)	(448)
Balance at the end of the year	(5,564)	(1,609)

Revaluation reserve from step acquisitions, net of tax
Balance at the beginning of the year	38	38
Movements during the year	0	0
Balance at the end of the year attributable to UBS shareholders	38	38

Statement of changes in equity (continued)
	For the year ended
CHF million	31.12.08	31.12.07
Retained earnings
Balance at the beginning of the year	38,081	49,151
Change in accounting policy	(2,286)	(1,423)
Net profit attributable to UBS shareholders for the year	(19,697)	(5,247)
Dividends paid	(16)	(4,275)
Cancellation of second trading line treasury shares	0	(2,411)
Balance at the end of the year attributable to UBS shareholders	16,082	35,795
Balance at the end of the year attributable to minority interests	234	16
Balance at the end of the year	16,316	35,811
Equity classified as obligation to purchase own shares
Balance at the beginning of the year	(74)	(185)
Movements during the year	28	111
Balance at the end of the year attributable to UBS shareholders	(46)	(74)
Treasury shares
Balance at the beginning of the year	(10,363)	(10,214)
Acquisitions	(367)	(7,169)
Disposals	7,574	4,605
Cancellation of second trading line treasury shares	0	2,415
Balance at the end of the year attributable to UBS shareholders	(3,156)	(10,363)

Minority interests - preferred securities	8,444	6,827

Total equity attributable to UBS shareholders	34,114	36,875
Total equity attributable to minority interests	8,002	6,951
Total equity	42,116	43,826

Additional information: Equity attributable to minority interests
	For the year ended
CHF million	31.12.08	31.12.07
Balance at the beginning of the year	6,951	6,089
Issuance of preferred securities	1,618	996
Other increases	12	101
Decreases and dividend payments	(532)	(502)
Foreign currency translation	(615)	(272)
Minority interest in net profit	568	539
Balance at the end of the year	8,002	6,951

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