Biogen Inc. (NASDAQ:BIIB)

The financial data reveals several key trends and fluctuations over the five-year period ending December 31, 2021.

Net Income

Net income demonstrated a peak in 2019 at approximately 5.89 billion US dollars, followed by a notable decline in 2020 to around 4.06 billion US dollars, and a further sharp drop to approximately 1.73 billion US dollars in 2021. This indicates a significant reduction in profitability during the last two years of the period.

Unrealized Gains (Losses) on Securities Available for Sale, Net of Tax

This item showed some volatility, starting with a positive gain of 9.2 million in 2017, dropping to a loss in 2018, then rebounding in 2019, and again turning negative in the last two years. The amount fluctuated marginally compared to other financial figures but indicates an inconsistent performance in available-for-sale securities.

Unrealized Gains (Losses) on Cash Flow Hedges, Net of Tax

This line item experienced significant swings, with a large negative figure in 2017 (-162.3 million), a strong positive swing in 2018 (139.2 million), followed by negatives in 2019 and 2020, and a substantial positive gain in 2021 (232.8 million). The inconsistency suggests volatility in hedging activities or market conditions affecting cash flow hedges.

Gains (Losses) on Net Investment Hedges, Net of Tax

Data begins in 2018 and shows positive figures in 2018 and 2019, a loss in 2020, then a gain again in 2021. These fluctuations reflect variability in the company’s investment hedging outcomes over recent years.

Unrealized Gains (Losses) on Pension Benefit Obligation, Net of Tax

This item fluctuated modestly, alternating between small gains and losses, culminating in a notable gain in 2021. This may indicate changes in pension plan assumptions or market conditions affecting pension obligations.

Currency Translation Adjustment

Starting with a positive figure in 2017 (158.7 million), currency translation adjustments turned negative in 2018 and again in 2021, with interim years reflecting mixed results. The variability indicates exposure to foreign currency risk affecting comprehensive income.

Other Comprehensive Income (Loss), Net of Tax

This item showed a general upward trend from 1.5 million in 2017 to a peak of 104.8 million in 2019, followed by a large negative in 2020 (-162.8 million) and a recovery in 2021 (192.9 million). These swings contribute significantly to overall comprehensive income volatility.

Comprehensive Income

Comprehensive income broadly follows the pattern of net income with a peak in 2019 (approximately 6 billion US dollars), a decrease in 2020, and a further substantial decline in 2021. The difference between net income and comprehensive income is influenced by the volatility in other comprehensive income components outlined above.

Comprehensive Income Attributable to Biogen Inc.

The figures for comprehensive income attributable to the company closely track the overall comprehensive income, confirming that the majority of comprehensive results are attributable to the parent entity rather than noncontrolling interests. This metric also shows a peak in 2019 and a sharp decline thereafter.

In summary, the data indicates a period of strong profitability culminating in 2019, followed by a substantive decline in net income and comprehensive income in 2020 and 2021. The fluctuations in unrealized gains and losses across various financial instruments, along with currency translation adjustments, have contributed to volatility in comprehensive income. These patterns reflect potential challenges in maintaining earnings consistency and increased sensitivity to market and currency risks during the latter part of the period examined.