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.
Cadence Design Systems Inc., consolidated statement of comprehensive income
US$ in thousands
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).
- Net Income
- The net income demonstrates a consistent upward trend over the five-year period. Starting at 590,644 thousand US dollars in 2020, it rose steadily each year, reaching 1,055,484 thousand US dollars by 2024. The growth appears robust, with particularly notable increases between 2021 and 2023.
- Foreign Currency Translation Adjustments
- This item exhibits significant volatility and a downward trend. Beginning positively at 18,373 thousand US dollars in 2020, it turned negative in 2021 and has fluctuated further in negative territory through to 2024, where it reached -87,933 thousand US dollars. This suggests increasing foreign exchange losses or negative translation impacts on financial statements over time.
- Changes in Defined Benefit Plan Liabilities
- Values for defined benefit plan liabilities show minor fluctuations around zero, indicating relatively stable changes year over year. The changes do not seem to represent significant financial impacts and remain modest in magnitude, with values both positive and negative from year to year.
- Unrealized Gains (Losses) on Derivatives Designated as Hedging Instruments
- Data for this item is only available in 2024, showing a loss of -7,038 thousand US dollars. The absence of data from previous years limits trend analysis, but the 2024 figure indicates an unrealized hedging loss.
- Unrealized Gains (Losses) on Investments
- Recorded only for the last two years, unrealized investment gains were positive in 2023 at 132 thousand US dollars but turned negative in 2024 at -484 thousand US dollars. This suggests a decline in the market value of investments or a reversal of prior gains.
- Other Comprehensive Income (Loss), Net of Tax Effects
- Other comprehensive income follows a downward trajectory, moving from a positive 19,501 thousand US dollars in 2020 to increasingly negative amounts in subsequent years. By 2024, this measure reflects a significant loss of -95,694 thousand US dollars, indicating adverse impacts from components such as foreign currency translation and unrealized losses on investments and derivatives.
- Comprehensive Income
- Despite negative trends in other comprehensive components, comprehensive income overall rises from 610,145 thousand US dollars in 2020 to a peak of 1,038,027 thousand US dollars in 2023 before declining to 959,790 thousand US dollars in 2024. This pattern aligns closely with the net income trend but reflects the cumulative impact of other comprehensive losses in the final year, slightly reducing the comprehensive income.