UBS AG

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2005 Financial Report

Handbook 2005




	UBS financial highlights

	UBS at a glance

	Sources of information





	UBS reporting structure

	Measurement and analysis of performance

	UBS Results





	UBS Performance Indicators





	Results

	Global Wealth Management & Business Banking

	Wealth Management International & Switzerland

	Wealth Management US

	Business Banking Switzerland

	Global Asset Management

	Investment Bank

	Corporate Center





	Industrial Holdings





	Balance sheet and off-balance sheet

	Cash flows





	Accounting principles

	Critical accounting policies





	Financial Statements





	Note 1 Summary of Significant Accounting Policies

	Note 2 Segment Reporting by Business Group

	Note 3 Net Interest and Trading Income

	Note 4 Net Fee and Commission Income

	Note 5 Other Income

	Note 6 Personnel Expenses

	Note 7 General and Administrative Expenses

	Note 8 Earnings per Share (EPS) and Shares Outstanding

	Note 9

	Note 10 Securities Borrowing, Securities Lending, Repurchase and Reverse Repurchase Agreements

	Note 11 Trading Portfolio

	Note 12 Financial Investments (available-for-sale)

	Note 13 Investments in Associates

	Note 14 Property and Equipment

	Note 15 Goodwill and Other Intangible Assets

	Note 16 Other Assets

	Note 17 Due to Banks and Customers

	Note 18 Financial Liabilities Designated at Fair Value and Debt Issued

	Note 19 Other Liabilities

	Note 20 Provisions

	Note 21 Income Taxes

	Note 22 Derivative Instruments

	Note 23 Fiduciary Transactions

	Note 24 Commitments and Contingent Liabilities

	Note 25 Operating Lease Commitments

	Note 26 Pledged Assets and Pledgeable Off-Balance Sheet Securities

	Note 27 Litigation

	Note 28 Financial Instruments Risk Position

	Note 29 Fair Value of Financial Instruments

	Note 30 Pension and Other Post-Retirement Benefit Plans

	Note 31 Equity Participation and Other Compensation Plans

	Note 32 Related Parties

	Note 33 Securitizations

	Note 34 Post-Balance Sheet Events

	Note 35 Significant Subsidiaries and Associates

	Note 36 Invested Assets and Net New Money

	Note 37 Business Combinations

	Note 38 Discontinued Operations

	Note 39 Currency Translation Rates

	Note 40 Swiss Banking Law Requirements

	Note 41 Reconciliation of International Financial Reporting Standards (IFRS) to United States Generally Accepted Accounting Principles (US GAAP)

	Note 42 Additional Disclosures Required under US GAAP and SEC Rules





	Parent Bank Review

	Financial Statements

	Accounting Principles

	Additional Income Statement Information

	Additional Balance Sheet Information

	Off-Balance Sheet and Other Information





	A – Introduction

	B – Selected Financial Data

	C – Information on the Company

	D – Information Required by Industry Guide 3

UBS Homepage > Analysts & Investors > Relazioni 2005 > Financial Report > Note 14 Property and Equipment

Note 14 Property and Equipment


At historical cost less accumulated depreciation
CHF million	Own-used properties	Leasehold improvements	IT, software and communication	Ohter machines and equipement	Plant and manufacturing equipement	Projects in pgoress	31.12.05	31.12.04
Historical cost
Balance at the beginning of the year	9,752	2,592	3,979	1,835	3,031	239	21,428	20,346
Additions	178	132	841	194	127	393	1,865	1,462
Additions from acquired companies	3	1	2	0	110	0	116	2,093
Disposals / write-offs¹	(490)	(98)	(880)	(393)	(494)	(8)	(2,363)	(2,020)
Reclassifications	(26)	232	108	(118)	71	(217)	50	(186)
Foreign currency translation	29	191	211	78	59	6	574	(267)
Balance at the end of the year	9,446	3,050	4,261	1,596	2,904	413	21,670	21,428
Accumulated depreciation
Balance at the beginning of the year	4,701	1,659	3,375	1,503	760	0	11,998	11,867
Depreciation²	276	216	716	115	233	0	1,556	1,576
Disposals / write-offs1	(158)	(61)	(811)	(318)	(354)	0	(1,702)	(1,182)
Reclassifications	(42)	71	0	3	0	0	32	(43)
Foreign currency translation	4	114	194	46	33	0	391	(220)
Balance at the end of the year	4,781	1,999	3,474	1,349	672	0	12,275	11,998
Net book value at the end of the year³	4,665	1,051	787	247	2,232	413	9,395	9,430

¹ Includes write-offs of fully depreciated assets. ² Depreciation expense of CHF 63 million and CHF 99 millon is related to Discontinued operations for 2005 and 2004 respectively. ³ Fire insurance value of property and equipment is CHF 16,050 million (2004: CHF 16,031 million).


At fair value
CHF million		Investment properties	Projects in progress	31.12.05	31.12.04
Balance at the beginning of the year		41	39	80	236
Additions		26	0	26	91
Additions from acquired companies		0	0	0	1
Sales		(25)	0	(25)	(241)
Reclassifications		(16)	(39)	(55)	0
Foreign currency translation		2	0	2	(7)
Balance at the end of the year		28	0	28	80

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