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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- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
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Alphabet Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The financial data reveals several notable trends in profitability, comprehensive income, and other comprehensive income components over the five-year period.
- Net Income
- Net income exhibited significant growth from 2020 through 2024, increasing from US$40,269 million in 2020 to US$100,118 million in 2024. The highest increase occurred between 2020 and 2021, where net income nearly doubled. A decline is observed in 2022, followed by recovery in 2023 and substantial growth in 2024, indicating overall positive earnings performance with some year-to-year variability.
- Change in Foreign Currency Translation Adjustment, Net of Income Tax
- This item showed considerable fluctuations and generally negative values from 2021 onwards, except for a positive amount in 2023. The negative values in 2021 (-1,442 million), 2022 (-1,836 million), and 2024 (-1,673 million) suggest unfavorable currency translation impacts during these periods, likely affecting the overall comprehensive income.
- Change in Net Unrealized Gains (Losses)
- The change in net unrealized gains and losses was volatile. Initial positive values in 2020 (1,313 million) were followed by significant negative amounts in 2021 (-1,312 million) and especially in 2022 (-4,720 million), indicating marked unrealized losses in those years. The subsequent partial recovery in 2023 (1,344 million) and a smaller negative adjustment in 2024 (-116 million) suggest a period of instability in investment valuations.
- Reclassification Adjustment for Net (Gains) Losses Included in Net Income
- Reclassification adjustments varied over time, moving from a negative value in 2020 (-513 million) to a minimal negative in 2021 (-64 million), and then to positive values in 2022 (1,007 million), 2023 (1,168 million), and a lower positive figure in 2024 (782 million). This pattern reflects adjustments related to gains and losses realized in income, indicating shifts in investment realization timing or recognition.
- Net Change in Available-for-Sale Investments, Net of Income Tax
- This measure displays a negative trend initially, decreasing from 800 million in 2020 to -3,713 million in 2022. However, it recovers to positive territory in 2023 (2,512 million) and remains positive in 2024 (666 million). These fluctuations suggest that investment valuation adjustments negatively impacted financial results in the middle years but improved thereafter.
- Additional Change in Net Unrealized Gains (Losses)
- This second set of unrealized gains/losses changes shows an overall positive trend, starting at 42 million in 2020 and increasing to 775 million in 2024, despite some fluctuations. This indicates favorable movements in a subset of unrealized gains/losses components over the period.
- Additional Reclassification Adjustment for Net (Gains) Losses Included in Net Income
- These adjustments generally remain negative and increase in magnitude, particularly in 2022 (-1,706 million), indicating consistent reclassification of losses impacting income.
- Net Change in Cash Flow Hedges, Net of Income Tax
- This item shows volatility with alternating positive and negative values, ranging from -74 million in 2020 to a positive 609 million in 2024. The variation highlights changing effectiveness or hedging activities influencing cash flow risk management.
- Other Comprehensive Income (Loss)
- Other comprehensive income/losses mirror the volatility of the components described, with a positive balance in 2020 (1,865 million) turning sharply negative in 2021 (-2,256 million) and worsening further in 2022 (-5,980 million). A robust rebound is evident in 2023 (3,201 million), with a moderate negative adjustment in 2024 (-398 million). These fluctuations significantly affect overall comprehensive income and reflect underlying market and currency exposure risks.
- Comprehensive Income
- Comprehensive income trends closely with net income but is moderated by variations in other comprehensive income components. It increased from 42,134 million in 2020 to a peak in 2021 (73,777 million), decreased in 2022 (53,992 million), then rose substantially in 2023 (76,996 million) before a slight decline in 2024 (99,720 million). Overall, comprehensive income shows robust growth despite the volatility in foreign currency and investment valuation adjustments.