Other comprehensive income (OCI) refers to gains and losses that, according to accounting standards, have not been recognized in the current period's profit or loss but are reflected in the equity section of the balance sheet. It includes items like unrealized gains or losses on available-for-sale financial assets, foreign currency translation differences, and changes in fair value of certain hedging instruments. These items are reported separately from the net income to show the total comprehensive income of the company, which combines both net income and OCI.

When these items are later reclassified into profit or loss, usually due to specific events or conditions, the amounts previously recorded in OCI are transferred, affecting the retained earnings or other components of shareholders' equity. For instance, when a company sells an available-for-sale security, any gain or loss that was initially recorded in OCI would be moved to the income statement, impacting the net income for that period.

In summary, Other (gains)/losses, net represents the portion of a company's comprehensive income that is not directly related to its ongoing operations and is excluded from the net income but still affects the overall financial position of the entity.