Segment reporting	12 Months Ended
Segment reporting	Dec. 31, 2023
Disclosure Of Operating Segments [Line Items]
Disclosure Of Entitys Reportable Segments Explanatory	Note 3a Segment reporting UBS’s businesses are organized globally into five business divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management, the Investment Bank, and Non-core and Legacy. All five business divisions are supported by Group Items and qualify as reportable segments for the purpose of segment reporting. Together with Group Items, the five business divisions reflect the management structure of the Group. – Global Wealth Management provides financial services, advice and solutions to private wealth clients. Its offering ranges from investment management to estate planning and corporate finance advice, in addition to specific wealth management and banking products and services. – Personal & Corporate Banking serves its private, corporate, and institutional clients’ needs, from banking to retirement, financing, investments and strategic transactions, in Switzerland, through its branch network and digital channels. – Asset Management is a global, large-scale and diversified asset manager. It offers investment capabilities and styles across all major traditional and alternative asset classes, as well as advisory support to institutions, wholesale intermediaries and wealth management clients. – The Investment Bank provides a range of services to institutional, corporate and wealth management clients globally, to help them raise capital, grow their businesses, invest and manage risks. Its offering includes research, advisory services, facilitating clients raising debt and equity from the public and private markets and capital markets, cash and derivatives trading across equities and fixed income, and financing. – Non-core and Legacy includes positions and businesses not aligned with the Group’s strategy and policies. Those consist of the assets and liabilities that prior to the acquisition were reported as part of the Capital Release Unit (Credit Suisse) and certain assets and liabilities of the Investment Bank (Credit Suisse), Wealth Management (Credit Suisse), Swiss Bank (Credit Suisse) and Asset Management (Credit Suisse) divisions, as well as of the Corporate Center (Credit Suisse). Also included are the remaining assets and liabilities of UBS’s Non-core and Legacy Portfolio, previously reported in Group Functions (now renamed to Group Items), and smaller amounts of assets and liabilities of UBS’s business divisions that have been assessed as not strategic in light of the acquisition of the Credit Suisse Group. – Our Group functions are support and control functions that provide services to the Group. Virtually all costs incurred by the support and control functions are allocated to the business divisions, leaving a residual amount that we refer to as Group Items in our segment reporting. Group functions is made up of the following major areas: Group Services (which consists of the Group Operations and Technology Office, Corporate Services, Compliance, Regulatory & Governance, Finance, Risk Control, Human Resources, Communications & Branding, Legal, the Group Integration Office, Group Sustainability and Impact, and Chief Strategy Office) and Group Treasury. Financial information about the five business divisions and Group Items is presented separately in internal management reports to the Group Executive Board (the GEB), which is considered the “chief operating decision-maker” pursuant to IFRS 8, Operating Segments . UBS’s internal accounting policies, which include management accounting policies and service level agreements, determine the revenues and expenses directly attributable to each reportable segment. Transactions between the reportable segments are carried out at internally agreed rates and are reflected in the operating results of the reportable segments. Revenue-sharing agreements are used to allocate external client revenues to reportable segments where several reportable segments are involved in the value creation chain. Total intersegment revenues for the Group are immaterial, as the majority of the revenues are allocated across the segments by means of revenue-sharing agreements. Interest income earned from managing UBS’s consolidated equity is allocated to the reportable segments based on average attributed equity and currency composition. Assets and liabilities of the reportable segments are funded through and invested with Group functions, and the net interest margin is reflected in the results of each reportable segment. Segment assets are based on a third-party view and do not include intercompany balances. This view is in line with internal reporting to the GEB. If one operating segment is involved in an external transaction together with another operating segment or Group function, additional criteria are considered to determine the segment that will report the associated assets. This will include a consideration of which segment’s business needs are being addressed by the transaction and which segment is providing the funding and / or resources. Allocation of liabilities follows the same principles. Non-current assets disclosed for segment reporting purposes represent assets that are expected to be recovered more than 12 months after the reporting date, excluding financial instruments, deferred tax assets and post-employment benefits. USD m Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Non-core and Legacy 1 Group Items 1 Negative goodwill 2 UBS For the year ended 31 December 2023 Total revenues 21,190 8,436 2,639 8,661 741 (833) 40,834 Negative goodwill 27,748 27,748 Credit loss expense / (release) 147 501 0 190 193 6 1,037 Operating expenses 17,454 4,787 2,321 8,515 5,290 440 38,806 Operating profit / (loss) before tax 3,589 3,148 318 (44) (4,741) (1,279) 27,748 28,739 Tax expense / (benefit) 873 Net profit / (loss) 27,866 Additional information Total assets 469,240 470,526 21,804 399,348 172,862 183,465 1,717,246 Additions to non-current assets 2,584 3,279 709 530 3,062 550 10,714 of which Credit Suisse 3 1,795 3,020 626 3 3,062 550 9,056 USD m Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Non-core and Legacy 1 Group Items 1 UBS For the year ended 31 December 2022 Total revenues 18,967 4,302 2,961 4 8,717 237 (622) 34,563 Credit loss expense / (release) 0 39 0 (12) 2 1 29 Operating expenses 13,989 2,452 1,564 6,832 104 (12) 24,930 Operating profit / (loss) before tax 4,977 1,812 1,397 1,897 131 (611) 9,604 Tax expense / (benefit) 1,942 Net profit / (loss) 7,661 Additional information Total assets 388,530 235,226 17,348 391,320 13,367 58,574 1,104,364 Additions to non-current assets 42 13 1 34 0 1,970 2,060 USD m Global Wealth Management Personal & Corporate Banking Asset Management Investment Bank Non-core and Legacy 1 Group Items 1 UBS For the year ended 31 December 2021 Total revenues 19,419 4,263 2,617 9,454 60 (419) 35,393 Credit loss expense / (release) (29) (86) 1 (34) 0 0 (148) Operating expenses 14,665 2,618 1,586 6,858 138 191 26,058 Operating profit / (loss) before tax 4,783 1,731 1,030 2,630 (79) (611) 9,484 Tax expense / (benefit) 1,998 Net profit / (loss) 7,486 Additional information Total assets 5 395,235 225,370 25,639 346,431 25,153 99,354 1,117,182 Additions to non-current assets 56 16 1 30 0 1,989 2,091 1 As of or for the year ended 31 December 2023, Non-core and Legacy (previously reported within Group Functions) became a separate reportable segment and Group Functions has been renamed Group Items. Prior periods have been revised to reflect these changes. 2 Negative goodwill arising from the acquisition of the Credit Suisse Group is not allocated to the business divisions, as it relates to the Group. For further details, refer to Note 2. 3 Non-current assets acquired with the Credit Suisse Group are included in additions to non-current assets. Refer to Note 2 for more information about the acquisition of the Credit Suisse Group. 4 Includes an USD 848 m gain in Asset Management related to the sale of UBS‘s shareholding in Mitsubishi Corp.-UBS Realty Inc. 5 During 2022, UBS refined the methodology applied to allocate balance sheet resources from Group Items to the business divisions, with prospective effect. If the new methodology had been applied as of 31 December 2021, balance sheet assets allocated to business divisions would have been USD 26 bn higher, of which USD 14 bn would have related to the Investment Bank. Note 3b Segment reporting by geographic location The operating regions shown in the table below correspond to the regional management structure of the Group. The geographic analysis of non-current assets is based on the location of the entity in which the given assets are recorded. The allocation of total revenues by geographical region for the Credit Suisse sub-group is not available on the same allocation basis as for the UBS Group for 2023 and the cost to develop this information would be excessive, therefore, as permitted under IFRS 8, the respective information is not disclosed. UBS AG and Credit Suisse AG disclose total revenues by geographical region in their annual reports according to their respective allocation methodologies. › Refer to “UBS AG consolidated financial information” in the “Consolidated financial statements” section of the UBS AG Annual Report 2023 for more information on total revenues by geographical region for UBS AG › Refer to the Credit Suisse AG consolidated financial statements, available under “Annual reports” at credit-suisse.com/about- us/en/investor-relations.html , for more information on total revenues by geographical region for Credit Suisse AG Total non-current assets 31.12.23 31.12.22 31.12.21 USD bn Share % USD bn Share % USD bn Share % Americas 1 9.4 34 8.9 46 9.0 44 Asia Pacific 1.7 6 1.5 8 1.5 7 Europe, Middle East and Africa (excluding Switzerland) 3.3 12 2.9 15 2.9 14 Switzerland 13.3 48 6.3 32 7.1 35 Global 0.0 0 0.0 0 0.0 0 Total 27.7 100 19.7 100 20.5 100 1 Predominantly related to the USA.