| Accumulated other comprehensive income |
27 Accumulated other comprehensive income and additional share information
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
|
|
|
2021 (CHF million)
|
|
Balance at beginning of period
|
|
206
|
|
(17,528)
|
|
13
|
|
(3,727)
|
|
456
|
|
(2,570)
|
|
(23,150)
|
|
|
Increase/(decrease)
|
|
(260)
|
|
783
|
|
0
|
|
707
|
|
4
|
|
302
|
|
1,536
|
|
|
Reclassification adjustments, included in net income/(loss)
|
|
(41)
|
|
6
|
|
0
|
|
315
|
|
(95)
|
|
103
|
|
288
|
|
|
Total increase/(decrease)
|
|
(301)
|
|
789
|
|
0
|
|
1,022
|
|
(91)
|
|
405
|
|
1,824
|
|
|
Balance at end of period
|
|
(95)
|
|
(16,739)
|
|
13
|
|
(2,705)
|
|
365
|
|
(2,165)
|
|
(21,326)
|
|
|
2020 (CHF million)
|
|
Balance at beginning of period
|
|
28
|
|
(14,469)
|
|
30
|
|
(3,690)
|
|
604
|
|
(2,772)
|
|
(20,269)
|
|
|
Increase/(decrease)
|
|
91
|
|
(3,076)
|
|
(49)
|
|
(327)
|
|
(5)
|
|
45
|
|
(3,321)
|
|
|
Reclassification adjustments, included in net income/(loss)
|
|
87
|
|
17
|
|
32
|
|
290
|
|
(143)
|
|
157
|
|
440
|
|
|
Total increase/(decrease)
|
|
178
|
|
(3,059)
|
|
(17)
|
|
(37)
|
|
(148)
|
|
202
|
|
(2,881)
|
|
|
Balance at end of period
|
|
206
|
|
(17,528)
|
|
13
|
|
(3,727)
|
|
456
|
|
(2,570)
|
|
(23,150)
|
|
|
2019 (CHF million)
|
|
Balance at beginning of period
|
|
(72)
|
|
(13,442)
|
|
10
|
|
(3,974)
|
|
387
|
|
(890)
|
|
(17,981)
|
|
|
Increase/(decrease)
|
|
65
|
|
(1,015)
|
|
20
|
|
44
|
|
338
|
|
(2,053)
|
|
(2,601)
|
|
|
Increase/(decrease) due to equity method investments
|
|
10
|
|
(18)
|
|
0
|
|
0
|
|
0
|
|
0
|
|
(8)
|
|
|
Reclassification adjustments, included in net income/(loss)
|
|
25
|
|
6
|
|
0
|
|
282
|
|
(121)
|
|
193
|
|
385
|
|
|
Cumulative effect of accounting changes, net of tax
|
|
0
|
|
0
|
|
0
|
|
(42)
|
|
0
|
|
(22)
|
|
(64)
|
|
|
Total increase/(decrease)
|
|
100
|
|
(1,027)
|
|
20
|
|
284
|
|
217
|
|
(1,882)
|
|
(2,288)
|
|
|
Balance at end of period
|
|
28
|
|
(14,469)
|
|
30
|
|
(3,690)
|
|
604
|
|
(2,772)
|
|
(20,269)
|
|
1
No impairments on available-for-sale debt securities were recognized in net income/(loss) in 2021, 2020 and 2019.
|
> Refer to “Note 29 – Tax” and “Note 32 – Pension and other post-retirement benefits” for income tax expense/(benefit) on the movements of accumulated other comprehensive income/(loss).
Details of significant reclassification adjustments
|
in
|
|
2021
|
|
2020
|
|
2019
|
|
|
Reclassification adjustments, included in net income/(loss) (CHF million)
|
|
Actuarial gains/(losses)
|
|
|
|
|
|
|
|
|
Amortization of recognized actuarial losses 1
|
|
388
|
|
355
|
|
355
|
|
|
Tax expense/(benefit)
|
|
(73)
|
|
(65)
|
|
(73)
|
|
|
Net of tax
|
|
315
|
|
290
|
|
282
|
|
|
Net prior service credit/(cost)
|
|
|
|
|
|
|
|
|
Amortization of recognized prior service credit/(cost) 1
|
|
(118)
|
|
(176)
|
|
(153)
|
|
|
Tax expense/(benefit)
|
|
23
|
|
33
|
|
32
|
|
|
Net of tax
|
|
(95)
|
|
(143)
|
|
(121)
|
|
1
These components are included in the computation of total benefit costs. Refer to "Note 32 – Pension and other post-retirement benefits" for further information.
|
Additional share information
|
|
|
2021
|
|
2020
|
|
2019
|
|
|
Common shares issued
|
|
Balance at beginning of period
|
|
2,447,747,720
|
|
2,556,011,720
|
|
2,556,011,720
|
|
|
Issuance of common shares
|
|
203,000,000
|
|
0
|
|
0
|
|
|
Cancellation of repurchased shares
|
|
0
|
|
(108,264,000)
|
|
0
|
|
|
Balance at end of period
|
|
2,650,747,720
|
|
2,447,747,720
|
|
2,556,011,720
|
|
|
Treasury shares
|
|
Balance at beginning of period
|
|
(41,602,841)
|
|
(119,761,811)
|
|
(5,427,691)
|
|
|
Sale of treasury shares
|
|
2,053,309,578
|
|
1,222,417,138
|
|
795,576,688
|
|
|
Repurchase of treasury shares
|
|
(2,151,374,939)
|
|
(1,303,331,434)
|
|
(951,743,509)
|
|
|
Cancellation of repurchased shares
|
|
0
|
|
108,264,000
|
|
0
|
|
|
Issuance of common shares relating to mandatory convertible notes
|
|
(203,000,000)
|
|
0
|
|
0
|
|
|
Conversion of mandatory convertible notes
|
|
202,998,491
|
|
0
|
|
0
|
|
|
Share-based compensation
|
|
58,606,500
|
|
50,809,266
|
|
41,832,701
|
|
|
Balance at end of period
|
|
(81,063,211)
|
|
(41,602,841)
|
|
(119,761,811)
|
|
|
Common shares outstanding
|
|
Balance at end of period
|
|
2,569,684,509
|
1
|
2,406,144,879
|
2
|
2,436,249,909
|
|
1
At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 450,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,524,164 of these shares were reserved for capital instruments.
|
2
At par value CHF 0.04 each, fully paid. In addition to the treasury shares, a maximum of 653,000,000 unissued shares (conditional, conversion and authorized capital) were available for issuance without further approval of the shareholders. 111,193,477 of these shares were reserved for capital instruments.
|
|
| Accumulated other comprehensive income |
26 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
|
|
|
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)
|
|
|
2020 (CHF million)
|
|
Balance at beginning of period
|
|
28
|
|
(14,560)
|
|
30
|
|
(417)
|
|
(7)
|
|
(2,620)
|
|
(17,546)
|
|
|
Increase/(decrease)
|
|
90
|
|
(2,974)
|
|
(49)
|
|
(55)
|
|
(4)
|
|
(6)
|
|
(2,998)
|
|
|
Reclassification adjustments, included in net income/(loss)
|
|
87
|
|
17
|
|
32
|
|
12
|
|
0
|
|
157
|
|
305
|
|
|
Total increase/(decrease)
|
|
177
|
|
(2,957)
|
|
(17)
|
|
(43)
|
|
(4)
|
|
151
|
|
(2,693)
|
|
|
Balance at end of period
|
|
205
|
|
(17,517)
|
|
13
|
|
(460)
|
|
(11)
|
|
(2,469)
|
|
(20,239)
|
|
|
2019 (CHF million)
|
|
Balance at beginning of period
|
|
(58)
|
|
(13,573)
|
|
9
|
|
(350)
|
|
(8)
|
|
(860)
|
|
(14,840)
|
|
|
Increase/(decrease)
|
|
65
|
|
(990)
|
|
21
|
|
(42)
|
|
0
|
|
(1,931)
|
|
(2,877)
|
|
|
Reclassification adjustments, included in net income/(loss)
|
|
21
|
|
3
|
|
0
|
|
17
|
|
1
|
|
193
|
|
235
|
|
|
Cumulative effect of accounting changes, net of tax
|
|
0
|
|
0
|
|
0
|
|
(42)
|
|
0
|
|
(22)
|
|
(64)
|
|
|
Total increase/(decrease)
|
|
86
|
|
(987)
|
|
21
|
|
(67)
|
|
1
|
|
(1,760)
|
|
(2,706)
|
|
|
Balance at end of period
|
|
28
|
|
(14,560)
|
|
30
|
|
(417)
|
|
(7)
|
|
(2,620)
|
|
(17,546)
|
|
1
No impairments on available-for-sale debt securities were recognized in net income/(loss) in 2021, 2020 and 2019.
|
> Refer to “Note 28 – Tax” and “Note 31 – Pension and other post-retirement benefits” for income tax expense/(benefit) on the movements of accumulated other comprehensive income/(loss).
Details of significant reclassification adjustments
|
in
|
|
2021
|
|
2020
|
|
2019
|
|
|
Reclassification adjustments, included in net income/(loss) (CHF million)
|
|
Actuarial gains/(losses)
|
|
|
|
|
|
|
|
|
Amortization of recognized actuarial losses 1
|
|
23
|
|
13
|
|
22
|
|
|
Tax expense/(benefit)
|
|
(4)
|
|
(1)
|
|
(5)
|
|
|
Net of tax
|
|
19
|
|
12
|
|
17
|
|
1
These components are included in the computation of total benefit costs. Refer to "Note 31 – Pension and other post-retirement benefits" for further information.
|
|