Name: Celgene Corp. (NASDAQ:CELG) | 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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Celgene Corp., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Net income	4,046)	2,940)	1,999)	1,602)	2,000)
Foreign currency translation adjustments	(28)	70)	(26)	(26)	(50)
Pension liability adjustment	(6)	16)	(24)	2)	(9)
Unrealized holding gains (losses), net of tax	246)	(428)	132)	418)	580)
Reclassification adjustment for (gains) losses included in net income, net of tax	6)	(181)	(303)	(351)	(25)
Net unrealized gains (losses) related to cash flow hedges	252)	(609)	(171)	67)	556)
Excluded component related to cash flow hedges	8)	3)	—)	—)	—)
Unrealized holding gains (losses), net of tax	(7)	395)	(360)	(205)	320)
Reclassification adjustment for (gains) losses included in net income, net of tax	14)	23)	232)	15)	4)
Net unrealized gains (losses) on available for sale debt marketable securities	7)	418)	(128)	(189)	324)
Other comprehensive income (loss)	233)	(102)	(349)	(147)	821)
Comprehensive income	4,279)	2,838)	1,651)	1,455)	2,821)

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

The financial performance from 2014 to 2018 is characterized by a strong upward trajectory in core profitability, contrasted by significant volatility within other comprehensive income components.

Net Income Trends: Net income demonstrated a consistent growth pattern following a brief decline in 2015. From a low of 1,602 million US$ in 2015, net income grew steadily to 4,046 million US$ by 2018, representing a substantial increase in operational earnings over the latter half of the period.
Volatility in Other Comprehensive Income (OCI): Other comprehensive income exhibited high instability, shifting from a gain of 821 million US$ in 2014 to consecutive losses between 2015 and 2017, before recovering to 233 million US$ in 2018. This volatility suggests significant exposure to external market fluctuations that are independent of primary operations.
Cash Flow Hedge and Currency Adjustments: Net unrealized gains related to cash flow hedges showed extreme variance, moving from a peak of 556 million US$ in 2014 to a significant loss of 609 million US$ in 2017, followed by a reversal to 252 million US$ in 2018. Foreign currency translation adjustments remained largely negative throughout the period, with a notable exception in 2017.
Marketable Securities Performance: Net unrealized gains on available-for-sale debt marketable securities followed a cyclical trend, recording losses in 2015 and 2016 before a sharp recovery to 418 million US$ in 2017. This indicates sensitivity to interest rate changes or credit market shifts during those intervals.
Comprehensive Income Analysis: Comprehensive income mirrored the growth of net income but was moderated by the volatility of OCI. The total comprehensive income rose from 2,821 million US$ in 2014 to 4,279 million US$ in 2018, confirming that the growth in net income was sufficient to absorb the periodic losses encountered in other comprehensive income categories.

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