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.
Bed Bath & Beyond Inc., consolidated statement of comprehensive income
US$ in thousands
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).
- Net Earnings (Loss)
- The net earnings demonstrate a significant decline over the observed periods. Starting with a positive figure of approximately 685 million US dollars in early 2017, the company experiences a steep downturn, with earnings turning negative from 2019 onward. The losses deepen substantially through 2020 and 2022, reaching a peak deficit of over 613 million US dollars in 2020 and nearly 560 million US dollars in 2022.
- Change in Temporary Impairment of Auction Rate Securities, Net of Tax
- This item fluctuates with relatively minor values compared to net earnings. The amounts oscillate modestly around zero, indicating occasional revisions to impairment assessments without clear directional trend, with values ranging from -617 thousand to +366 thousand US dollars.
- Pension Adjustment, Net of Tax
- Pension adjustments display volatility over the periods. Early years (2017, 2018) show small positive adjustments, but beginning 2019, the adjustments shift to negative values, culminating in larger negative figures in 2020 and maintaining negative adjustments through 2022. This suggests increasing pension-related expenses or obligations.
- Reclassification Adjustment on Settlement of the Pension Plan, Net of Tax
- Reclassification adjustments do not occur until 2021 and 2022, where substantial positive adjustments of over 1.5 million and 9.9 million US dollars respectively are recorded. These values might indicate settlement gains or correction entries related to pensions during these years.
- Currency Translation Adjustment
- The currency translation adjustment shows variability with no consistent trend. The item fluctuates between positive and negative values, reflecting the effects of currency exchange rate movements on the company’s financial statements. Notably, positive values of 9.8 million and 1.5 million US dollars in 2021 and 2022 suggest a favorable currency environment during these years.
- Reclassification Due to the Adoption of ASU 2018-02
- This adjustment appears only once as a negative value in 2018, indicating an accounting policy adoption impact on that period’s financials, with no subsequent occurrences.
- Other Comprehensive Income (Loss)
- Other comprehensive income or loss mirrors the variability seen in currency and pension adjustments, showing negative values in the years 2018 to 2020 and positive values in 2021 and 2022. The fluctuations imply periodic gains and losses in non-operational areas affecting comprehensive income.
- Comprehensive Income (Loss)
- The comprehensive income trends closely follow those of net earnings, exhibiting positive figures in the early years (2017, 2018) and persistent losses from 2019 onwards. The comprehensive loss peaks in 2020, reflecting the combination of operational losses and other comprehensive components, with some improvement in 2021 and 2022 yet remaining negative.