Stock Analysis on Net

Amazon.com Inc. (NASDAQ:AMZN)

$24.99

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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Amazon.com Inc., consolidated statement of comprehensive income

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net income (loss)
Foreign currency translation adjustments, net of tax
Change in net unrealized gains (losses), net of tax
Reclassification adjustment for (gains) losses included in Other income (expense), net, net of tax
Net change in available-for-sale debt securities
Other, net of tax
Other comprehensive income (loss)
Comprehensive income (loss)

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 significant fluctuations in both net income and comprehensive income over the analyzed periods, indicating periods of notable profit variations and changes in other comprehensive income components.

Net Income Trends
The net income displayed considerable volatility. It started at $21,331 million in 2020, increased sharply to $33,364 million in 2021, but then declined drastically to a loss of $2,722 million in 2022. Subsequently, net income rebounded strongly to $30,425 million in 2023 and almost doubled to $59,248 million in 2024. This pattern suggests cycles of profitability with a significant loss year followed by strong recovery and growth.
Foreign Currency Translation Adjustments
Foreign currency translation adjustments showed a generally negative and volatile trend. After a positive adjustment of $561 million in 2020, it moved into negative territory with losses of $819 million and $2,586 million in 2021 and 2022 respectively. In 2023, this adjustment turned positive again at $1,027 million, only to drop back to a significant negative adjustment of $3,333 million in 2024. This implies exposure to foreign exchange risks, with major negative impacts in recent periods.
Change in Net Unrealized Gains (Losses), Net of Tax
This item exhibited a fluctuating pattern. It recorded gains of $273 million in 2020, followed by losses of $343 million and $823 million in 2021 and 2022 respectively. The trend reversed in 2023 with a gain of $366 million, which substantially increased to $6,339 million in 2024. The sharp increase in 2024 suggests improved performance or favorable market valuation of investments held.
Reclassification Adjustment for Gains (Losses)
The reclassification adjustments were generally minor and negative in the early years (-$28 million in 2020 and -$34 million in 2021), shifted to a notable positive $298 million in 2022, and then settled back to small positive amounts in 2023 and 2024 ($50 million and $5 million respectively). This indicates some adjustments related to other income or expense components, with the largest impact in 2022.
Net Change in Available-for-Sale Debt Securities
The net change mirrored the pattern of unrealized gains and losses with positive $245 million in 2020, negative changes in 2021 (-$377 million) and 2022 (-$525 million), followed by positive changes in 2023 ($416 million) and a large positive shift in 2024 amounting to $6,344 million. This suggests variability in investment security valuations, with marked improvement in recent years.
Other Comprehensive Income (Loss)
Other comprehensive income experienced large swings, starting with a positive $806 million in 2020, turning to significant losses in 2021 (-$1,196 million) and 2022 (-$3,111 million). It then recovered positively to $1,447 million in 2023 and $3,006 million in 2024. These fluctuations are largely driven by foreign currency adjustments and investment valuation changes, indicating volatility in comprehensive income elements not reflected in net income.
Comprehensive Income (Loss)
Comprehensive income broadly follows net income trends but with amplified fluctuations due to other comprehensive income components. It was positive and increasing through 2021, plunged into a large loss of $5,833 million in 2022, and recovered strongly in the next two years to reach $31,872 million in 2023 and $62,254 million in 2024. This pattern underscores the material impact of non-operating income factors on overall financial performance.

In summary, the data portrays a company experiencing pronounced swings in profitability and comprehensive income, with 2022 standing out as an atypical loss year. The recovery in subsequent years is robust, particularly supported by favorable investment valuations and other comprehensive income items. Currency translation effects introduce additional volatility, indicating potential exposure to international market risks.