Name: Bed Bath & Beyond Inc. (NASDAQ:BBBY) | Statement of Comprehensive Income
Creator: Stock Analysis on Net

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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Bed Bath & Beyond Inc., consolidated statement of comprehensive income

US$ in thousands

12 months ended:	Feb 26, 2022	Feb 27, 2021	Feb 29, 2020	Mar 2, 2019	Mar 3, 2018	Feb 25, 2017
Net earnings (loss)	(559,623)	(150,773)	(613,816)	(137,224)	424,858)	685,108)
Change in temporary impairment of auction rate securities, net of tax	(251)	(617)	276)	366)	95)	(351)
Pension adjustment, net of tax	(1,562)	(1,396)	(4,791)	(482)	2,021)	1,710)
Reclassification adjustment on settlement of the pension plan, net of tax	9,938)	1,522)	—)	—)	—)	—)
Currency translation adjustment	1,461)	9,800)	(1,784)	(10,198)	(2,548)	6,389)
Reclassification due to the adoption of ASU 2018-02	—)	—)	—)	—)	(614)	—)
Other comprehensive income (loss)	9,586)	9,309)	(6,299)	(10,314)	(1,046)	7,748)
Comprehensive income (loss)	(550,037)	(141,464)	(620,115)	(147,538)	423,812)	692,856)

Based on: 10-K (reporting date: 2022-02-26), 10-K (reporting date: 2021-02-27), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-03-02), 10-K (reporting date: 2018-03-03), 10-K (reporting date: 2017-02-25).

The financial performance from February 2017 to February 2022 is characterized by a significant transition from profitability to recurring substantial net losses. A sharp decline in net earnings began after February 2018, with the company entering a period of sustained negative earnings that reached peak loss magnitudes during the fiscal years ending February 2020 and February 2022.

Net Earnings Trajectory: Net earnings shifted from a positive $685.1 million in 2017 to a loss of $137.2 million in 2019. This downward trend intensified to a loss of $613.8 million in 2020, experienced a temporary moderation to a loss of $150.8 million in 2021, and deteriorated again to a loss of $559.6 million by February 2022.
Comprehensive Income Trends: Comprehensive income closely mirrors the trajectory of net earnings, reflecting the dominant impact of operating losses over other comprehensive income components. The total comprehensive loss reached $620.1 million in 2020 and $550.0 million in 2022, indicating a severe erosion of comprehensive financial position over the analyzed period.
Other Comprehensive Income (OCI) Components: OCI remained relatively immaterial relative to net earnings, though it exhibited volatility. While OCI was negative between 2018 and 2020, it returned to positive territory in 2021 and 2022. This recovery was partially supported by reclassification adjustments on the settlement of the pension plan, which increased from $1.5 million in 2021 to $9.9 million in 2022.
Ancillary Financial Adjustments: Pension adjustments contributed negatively to comprehensive income from 2019 through 2022, with the most significant negative impact occurring in 2020 at $4.8 million. Currency translation adjustments lacked a consistent trend, fluctuating between a gain of $9.8 million in 2021 and a loss of $10.2 million in 2019.

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