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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- Income Statement
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Return on Assets (ROA) since 2013
- Price to Operating Profit (P/OP) since 2013
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American Airlines Group Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 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), 10-K (reporting date: 2019-12-31).
The financial data over the five-year period displays significant volatility and notable recovery signs in the recent years. The net income (loss) figures demonstrate considerable fluctuations, with a peak of positive performance in 2019, followed by a severe downturn in 2020. The loss substantially narrowed in 2021, transitioning back to marginal profitability in 2022, and showing a more solid positive net income in 2023. This trend suggests a challenging period likely influenced by external factors, with a gradual but clear improvement towards stabilization and growth afterwards.
- Net Income (Loss)
- After recording a strong positive net income of $1,686 million in 2019, the company experienced a dramatic loss of $8,885 million in 2020. This loss reduced significantly to $1,993 million in 2021. The company then returned to profitability with a net income of $127 million in 2022 and further improved to $822 million in 2023.
- Pension, Retiree Medical, and Other Postretirement Benefits
- These benefits liabilities showed varied movements, starting with a negative value of $438 million in 2019, worsening to negative $772 million in 2020. There was an improvement in 2021 with a positive value of $1,161 million, which increased further to $1,360 million in 2022, but then declined again to a negative $312 million in 2023. This volatility indicates fluctuating obligations or adjustments in actuarial assumptions over the period.
- Investments
- Investment values remained relatively stable and minimal, with $3 million in 2019, no available data for 2020 and 2021, a slight negative investment value of $3 million in 2022, and a return to $3 million in 2023.
- Other Comprehensive Income (Loss), Net of Tax
- This metric parallels the pension and other postretirement benefits trend, with significant negative values in 2019 and 2020, turning positive in 2021 and 2022, and then declining again in 2023. It indicates that other comprehensive income or losses largely relate to postretirement benefit plan changes.
- Comprehensive Income (Loss)
- The comprehensive income mirrored the net income trend closely but with wider amplitude. After a positive $1,251 million in 2019, it fell dramatically to a loss of $9,657 million in 2020, slightly recovered to a loss of $832 million in 2021, then posted a significant gain of $1,484 million in 2022, before decreasing to $513 million in 2023. This pattern reflects the combined effects of net income fluctuations and other comprehensive income impacts.