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Accumulated other comprehensive income (Tables) | 12 Months Ended
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Dec. 31, 2023
Accumulated other comprehensive income |
|  | Gains/ (losses) on cash flow hedges |  | Cumulative translation adjustments |  | Unrealized gains/ (losses) on securities | 1 | Actuarial gains/ (losses) |  | Net prior service credit/ (cost) |  | Gains/ (losses) on liabilities relating to credit risk |  | AOCI |
2023 (CHF million)
Balance at beginning of period |  | (1,317) |  | (17,020) |  | (13) |  | (582) |  | (9) |  | 3,874 |  | (15,067) |
Increase/(decrease) |  | 413 |  | (2,421) |  | (1) |  | (37) |  | 0 |  | 2,937 |  | 891 |
Reclassification adjustments, included in net income/(loss) |  | 238 |  | 58 |  | 0 |  | 12 |  | 1 |  | (7,721) | 2 | (7,412) |
Reclassification adjustments, included in retained earnings |  | 0 |  | 1,530 | 3 | 19 |  | 0 |  | 0 |  | 0 |  | 1,549 |
Total increase/(decrease) |  | 651 |  | (833) |  | 18 |  | (25) |  | 1 |  | (4,784) |  | (4,972) |
Balance at end of period |  | (666) |  | (17,853) |  | 5 |  | (607) |  | (8) |  | (910) |  | (20,039) |
2022 (CHF million)
Balance at beginning of period |  | (95) |  | (16,760) |  | 13 |  | (429) |  | (6) |  | (2,082) |  | (19,359) |
Increase/(decrease) |  | (454) |  | (260) |  | (21) |  | (170) |  | (4) |  | 5,987 |  | 5,078 |
Reclassification adjustments, included in net income/(loss) |  | (768) |  | 0 |  | (5) |  | 17 |  | 1 |  | (31) |  | (786) |
Total increase/(decrease) |  | (1,222) |  | (260) |  | (26) |  | (153) |  | (3) |  | 5,956 |  | 4,292 |
Balance at end of period |  | (1,317) |  | (17,020) |  | (13) |  | (582) |  | (9) |  | 3,874 |  | (15,067) |
2021 (CHF million)
Balance at beginning of period |  | 205 |  | (17,517) |  | 13 |  | (460) |  | (11) |  | (2,469) |  | (20,239) |
Increase/(decrease) |  | (259) |  | 751 |  | 0 |  | 12 |  | 4 |  | 284 |  | 792 |
Reclassification adjustments, included in net income/(loss) |  | (41) |  | 6 |  | 0 |  | 19 |  | 1 |  | 103 |  | 88 |
Total increase/(decrease) |  | (300) |  | 757 |  | 0 |  | 31 |  | 5 |  | 387 |  | 880 |
Balance at end of period |  | (95) |  | (16,760) |  | 13 |  | (429) |  | (6) |  | (2,082) |  | (19,359) |
1 No impairments on available-for-sale debt securities were recognized in net income/(loss) in 2023, 2022 and 2021.
2 Included the impact of the additional tier 1 capital notes write-down of CHF 9,048 million and the related tax impact of CHF 1,440 million which represented non-cash transactions.
3 Represented prior cumulative translation adjustments relating to Credit Suisse AG, Luxembourg Branch. The direct reclassification within equity to retained earnings was the result of the transfer of the operations of Credit Suisse AG, Luxembourg Branch to UBS AG, Zurich, which qualified as a common control transaction.
Details on significant reclassification adjustments | Details of significant reclassification adjustments
in |  | 2023 |  | 2022 |  | 2021 |
Reclassification adjustments, included in retained earnings (CHF million)
Cumulative translation adjustments |  |  |  |  |  |  |
Reclassification adjustments |  | 1,530 | 1 | 0 |  | 0 |
Reclassification adjustments, included in net income/(loss) (CHF million)
Cumulative translation adjustments |  |  |  |  |  |  |
Reclassification adjustments |  | 58 | 2 | 0 |  | 6 |
Gains/(losses) on cash flow hedges |  |  |  |  |  |  |
Gross gains/(losses) 3 |  | 296 |  | (959) |  | (40) |
Tax expense/(benefit) |  | (58) |  | 191 |  | (1) |
Net of tax |  | 238 |  | (768) |  | (41) |
Actuarial gains/(losses) |  |  |  |  |  |  |
Amortization of recognized actuarial losses 4 |  | 10 |  | 21 |  | 23 |
Tax expense/(benefit) |  | 2 |  | (4) |  | (4) |
Net of tax |  | 12 |  | 17 |  | 19 |
Gains/(losses) on liabilities relating to credit risk |  |  |  |  |  |  |
Reclassification adjustments 5 |  | (9,161) |  | (31) |  | 103 |
Tax expense/(benefit) |  | 1,440 |  | 0 |  | 0 |
Net of tax |  | (7,721) |  | (31) |  | 103 |
1 Represented prior cumulative translation adjustments relating to Credit Suisse AG, Luxembourg Branch. The direct reclassification within equity to retained earnings was the result of the transfer of the operations of Credit Suisse AG, Luxembourg Branch to UBS AG, Zurich, which qualified as a common control transaction.
2 Included net releases of CHF 58 million on the sale of Holding Verde Empreendimentos e Participações S.A. These were reclassified from cumulative translation adjustments and included in net income in other revenues.
3 Included in interest and dividend income as well as operating expenses. Refer to "Note 31 - Derivatives and hedging activities" for further information.
4 These components are included in the computation of total benefit costs. Refer to "Note 30 – Pension and other post-retirement benefits" for further information.
5 Included in other revenues.

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