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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- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Comcast Corp., consolidated statement of comprehensive income
US$ in millions
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).
The financial data reveals notable fluctuations and trends in both net income and comprehensive income items over the five-year period analyzed.
- Net Income
- Net income shows significant variability, with an initial increase from 10,701 million US$ in 2020 to 13,833 million US$ in 2021. This is followed by a sharp decline to 4,925 million US$ in 2022, after which it rebounds strongly in 2023 to 15,107 million US$, continuing to increase slightly to 15,877 million US$ in 2024. The dip in 2022 stands out as an anomaly within an overall upward trend.
- Currency Translation Adjustments, Net of Deferred Taxes
- This item exhibits a volatile pattern, starting positively at 1,213 million US$ in 2020 and turning negative for the next three years (-664 million US$ in 2021, -4,242 million US$ in 2022, and -894 million US$ in 2024), with an exception in 2023 when it rose to 1,477 million US$. The sharp negative value in 2022 suggests significant foreign exchange impact during that year.
- Deferred Gains (Losses), Net of Deferred Taxes
- Deferred gains show an improving trend, moving from a negative position of -101 million US$ in 2020 to positive territory in subsequent years (229 million US$ in 2021, 281 million US$ in 2022, declining somewhat to 16 million US$ in 2023 and then increasing to 57 million US$ in 2024). This suggests improving deferred tax asset management or recognition over time.
- Realized (Gains) Losses Reclassified to Net Income, Net of Deferred Taxes
- This account remains largely negative throughout the period, fluctuating without a clear trend (-147 million US$ in 2020, -16 million US$ in 2021, -192 million US$ in 2022, -158 million US$ in 2023, and -1 million US$ in 2024), implying ongoing realization of losses or minimal gains impacting net income.
- Cash Flow Hedges, Net of Deferred Taxes
- Cash flow hedges show alternating sign changes and volatility, beginning negative at -248 million US$ in 2020, becoming positive in 2021 and 2022 (213 million US$ and 89 million US$, respectively), reverting to negative in 2023 (-142 million US$), and then returning positive in 2024 (56 million US$). This pattern indicates ongoing active risk management with fluctuating hedging outcomes.
- Employee Benefit Obligations and Other, Net of Deferred Taxes
- Values here are relatively small and variable, moving from -68 million US$ in 2020 to positive amounts thereafter (54 million US$ in 2021, 33 million US$ in 2022, 3 million US$ in 2023, and 31 million US$ in 2024). This suggests generally stable but minor adjustments related to employee benefits and other similar items.
- Other Comprehensive Income (Loss)
- This item closely mirrors the pattern observed in currency translation adjustments and related components, showing a large positive figure in 2020 (897 million US$), turning negative in 2021 and sharply negative in 2022 (-397 million US$ and -4,120 million US$, respectively), recovering to 1,338 million US$ in 2023, and decreasing again to -807 million US$ in 2024. This volatility indicates significant fluctuations in items affecting comprehensive income beyond net income.
- Comprehensive Income
- Comprehensive income generally follows net income trends but with more pronounced fluctuations due to other comprehensive income components. It increased from 11,598 million US$ in 2020 to 13,436 million US$ in 2021, then dropped significantly to 805 million US$ in 2022. It recovered strongly to 16,445 million US$ in 2023 but slightly declined to 15,070 million US$ in 2024.
- Comprehensive (Income) Loss Attributable to Noncontrolling Interests
- Amounts attributable to noncontrolling interests are small relative to overall figures but increase marginally over time, varying from -227 million US$ in 2020 to positive values around 300 million US$ in later years, which may reflect changes in minority stakeholder interests or net earnings attributable to these parties.
- Comprehensive Income Attributable to Comcast Corporation
- This measure closely tracks overall comprehensive income, reflecting the primary entity’s share of earnings. It rises from 11,371 million US$ in 2020 to 13,755 million US$ in 2021, plummets to 1,280 million US$ in 2022, then rebounds strongly to 16,746 million US$ in 2023, with a modest decline to 15,402 million US$ in 2024. The 2022 dip is a major outlier amidst otherwise upward movements.
Overall, the data indicates strong profitability growth interrupted by a significant downturn in 2022, likely influenced by adverse currency translation adjustments and other comprehensive loss components. Following this year, the company demonstrates resilience with substantial recoveries in net income and comprehensive income through 2023 and 2024. The pattern of other comprehensive income and related adjustments suggests sensitivity to foreign exchange and hedging activities, contributing notably to net changes beyond core earnings.