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Other investments
 12 Months Ended
Dec. 31, 2022
Other investments
18 Other investments
end of20222021
Other investments (CHF million)   
Equity method investments1,6191,644
Equity securities (without a readily determinable fair value) 13,2133,317
   of which at net asset value 7354
   of which at measurement alternative 368347
   of which at fair value 2,7262,869
   of which at cost less impairment 4647
Real estate held-for-investment 29976
Life finance instruments 3587789
Total other investments 5,5185,826
1
Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Group had neither significant influence nor control over the investee.
2
As of the end of 2022 and 2021, real estate held-for-investment included foreclosed or repossessed real estate of CHF 20 million and CHF 9 million, respectively, of which CHF 20 million and CHF 6 million, respectively, were related to residential real estate.
3
Includes single premium immediate annuity contracts.
Accumulated depreciation related to real estate held-for-investment amounted to CHF 28 million, CHF 32 million and CHF 35 million for 2022, 2021 and 2020, respectively.
No impairments were recorded on real estate held-for-investment in 2022 and 2021. An impairment of CHF 1 million was recorded on real estate held-for-investment in 2020.
Equity securities at measurement alternative
in / end of2022Cumulative2021
Impairments and adjustments (CHF million)   
Impairments and downward adjustments(12)(55)(17)
Upward adjustments91471
> Refer to “Note 36 – Financial instruments” for further information on such investments.
Bank  
Other investments
17 Other investments
end of20222021
Other investments (CHF million)   
Equity method investments1,6181,636
Equity securities (without a readily determinable fair value) 13,2123,315
   of which at net asset value 7253
   of which at measurement alternative 366345
   of which at fair value 2,7272,869
   of which at cost less impairment 4748
Real estate held-for-investment 24648
Life finance instruments 3587789
Total other investments 5,4635,788
1
Includes private equity, hedge funds and restricted stock investments as well as certain investments in non-marketable mutual funds for which the Bank has neither significant influence nor control over the investee.
2
As of the end of 2022 and 2021, real estate held-for-investment included foreclosed or repossessed real estate of CHF 20 million and CHF 9 million, respectively, of which CHF 20 million and CHF 6 million, respectively, were related to residential real estate.
3
Includes single premium immediate annuity contracts.
Accumulated depreciation related to real estate held-for-investment amounted to CHF 24 million, CHF 28 million and CHF 31 million for 2022, 2021 and 2020, respectively.
No impairments were recorded on real estate held-for-investment in 2022 and 2021. An impairment of CHF 1 million was recorded on real estate held-for-investment in 2020.
Equity securities at measurement alternative
in / end of2022Cumulative2021
Impairments and adjustments (CHF million)   
Impairments and downward adjustments(12)(55)(17)
Upward adjustments91471
> Refer to “Note 36 – Financial instruments” for further information on such investments and “Note 18 – Other investments” in VI – Consolidated financial statements – Credit Suisse Group for further information.