Statement of Comprehensive Income
Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2008
- Current Ratio since 2008
- Analysis of Debt
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Activision Blizzard Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
Over the five-year period, net income exhibited notable volatility. Starting at $1,813 million in 2018, it declined to $1,503 million in 2019 before experiencing a significant increase to $2,197 million in 2020 and further growth to $2,699 million in 2021. However, in 2022, net income dropped sharply to $1,513 million, approaching the levels seen in 2019.
Foreign currency translation adjustments showed variations without a clear directional trend. The adjustments were negative in 2018 (-$9 million), positive in 2019 ($5 million) and 2020 ($35 million), then shifted back to negative figures in 2021 (-$17 million) and worsened further in 2022 (-$30 million). This indicates fluctuating impacts from foreign currency movements over the period.
Unrealized gains and losses related to forward contracts designated as hedges displayed a pattern of oscillation. There were positive gains in 2018 ($38 million) and 2021 ($53 million), contrasted by losses in 2019 (-$15 million), 2020 (-$36 million), and 2022 (-$14 million). This reflects variability in hedging effectiveness or market conditions affecting these instruments.
Similarly, unrealized gains and losses on available-for-sale securities also alternated between gains and losses. Positive outcomes were reported in 2018 ($5 million) and 2021 ($8 million), while 2019 (-$8 million), 2020 (-$2 million), and 2022 (-$3 million) reflected losses. The magnitude of these adjustments is relatively small compared to other items.
Other comprehensive income, which aggregates various components including those discussed above, mirrored these fluctuations. It started at $34 million in 2018, fell to a negative $18 million in 2019 and near zero at -$3 million in 2020, then improved to a positive $44 million in 2021, before sharply declining to -$47 million in 2022. This suggests a sample of volatility in comprehensive income elements beyond net income alone.
Comprehensive income closely followed the net income pattern, given the relative size of other comprehensive components. It declined from $1,847 million in 2018 to $1,485 million in 2019, surged to $2,194 million in 2020 and $2,743 million in 2021, and finally fell to $1,466 million in 2022. The substantial rise from 2019 through 2021 indicates strong overall profitability during that interval, with a notable earnings contraction in the most recent year.