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.
Costco Wholesale Corp., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2024-09-01), 10-K (reporting date: 2023-09-03), 10-K (reporting date: 2022-08-28), 10-K (reporting date: 2021-08-29), 10-K (reporting date: 2020-08-30), 10-K (reporting date: 2019-09-01).
The financial data reflects a positive overall trend in net income and comprehensive income over the analyzed periods. Net income including noncontrolling interests showed consistent growth, increasing from $3,704 million in 2019 to $7,367 million in 2024, effectively doubling over the six-year span. This upward trend indicates improving profitability and operational efficiency.
Foreign-currency translation adjustments and other components of other comprehensive income exhibited volatility. Values fluctuated between negative and positive figures without a clear directional trend, ranging from a low of -$721 million in 2022 to highs around $180 million in 2020 and 2021. This suggests significant currency exposure or valuation changes impacting the company's foreign operations with no consistent pattern over time.
Other comprehensive income (loss) mirrored the translation adjustment trends due to the close linkage between the two, showing similar fluctuations and indicating that comprehensive income was influenced by foreign currency movements on several occasions.
Comprehensive income, which includes net income and other comprehensive income, generally followed the increasing trajectory of net income but displayed some periods of moderation, particularly in 2022 when it slightly declined to $5,194 million from $5,260 million in 2021. However, it rebounded strongly in subsequent years, reaching $7,344 million in 2024, showing overall growth and resilience.
Comprehensive income attributable to noncontrolling interests was consistently negative but small in magnitude. The values ranged from -$37 million to -$93 million in the earlier years, and data after 2022 is not available. This indicates a relatively minor impact of noncontrolling interests on consolidated comprehensive income.
Comprehensive income attributable to the main company followed similar patterns to total comprehensive income, confirming that the majority of gains or losses were attributable to the parent entity. The figure grew from $3,422 million in 2019 to $7,344 million in 2024, reinforcing the trend of improving financial performance.