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.
Cisco Systems Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2026-07-25), 10-K (reporting date: 2025-07-26), 10-K (reporting date: 2024-07-27), 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31).
An analysis of the financial results from 2021 to 2026 reveals a period of fluctuating profitability and significant volatility within other comprehensive income components. While net income serves as the primary driver of total comprehensive income, external market factors—specifically related to investment valuations and currency translations—have introduced periodic variance in the final comprehensive results.
- Net Income and Comprehensive Income Trends
- Net income exhibited a growth trajectory from 2021 to 2023, peaking at 12,613 million US dollars. This was followed by a two-year contraction in 2024 and 2025, where figures declined to 10,320 million and 10,180 million US dollars, respectively. A sharp recovery is observed in 2026, with net income reaching its highest point in the period at 13,267 million US dollars. Comprehensive income largely mirrors these movements, though it is occasionally dampened or amplified by non-operational gains and losses.
- Other Comprehensive Income (OCI) Volatility
- Other comprehensive income has demonstrated extreme volatility, characterized by a significant deficit in 2022 of 1,205 million US dollars. This downturn was primarily driven by substantial unrealized losses in available-for-sale investments and negative cumulative translation adjustments. A reversal of this trend occurred between 2023 and 2025, with OCI reaching a peak positive contribution of 476 million US dollars in 2025 before returning to a near-neutral position of -2 million US dollars in 2026.
- Investment and Hedging Performance
- Available-for-sale investments contributed negatively to comprehensive income from 2021 through 2023, with the most acute impact occurring in 2022. However, a transition to positive contributions is noted in 2024 and 2025. Cash flow hedging instruments maintained a generally positive, albeit smaller, impact on comprehensive income across most of the period, peaking in 2024 at 61 million US dollars.
- Currency Translation and Actuarial Adjustments
- The net change in cumulative translation adjustments and actuarial gains and losses shows a cyclical and unstable pattern. A substantial loss of 689 million US dollars in 2022 was offset by a gain of 306 million US dollars in 2025. These fluctuations indicate a high sensitivity to foreign exchange volatility and adjustments in actuarial assumptions over the analyzed timeframe.
Overall, the financial trajectory is defined by a resilient core profitability that recovered strongly by 2026, despite intermittent volatility in the comprehensive income statement caused by market-driven adjustments in investments and currency valuations.
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