Name: Diamondback Energy Inc. (NASDAQ:FANG) | 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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Diamondback Energy Inc., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net income (loss)	2,276)	(4,672)	315)	945)	517)
Current period change in fair value of postretirement plans, net of tax	—)	—)	—)	—)	—)
Other comprehensive loss	—)	—)	—)	—)	—)
Comprehensive income (loss)	2,276)	(4,672)	315)	945)	517)
Comprehensive (income) loss attributable to non-controlling interest	(94)	155)	(75)	(99)	(34)
Comprehensive income (loss) attributable to Diamondback Energy, Inc.	2,182)	(4,517)	240)	846)	482)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

The financial performance from 2017 through 2021 is characterized by significant volatility, featuring a period of growth, a severe contraction, and a subsequent strong recovery. The trajectory of net income reflects extreme sensitivity to external market conditions, culminating in a substantial loss in 2020 followed by a sharp reversal in 2021.

Net and Comprehensive Income Trends: A positive growth trend was observed between 2017 and 2018, with net income increasing from 517 million US$ to 945 million US$. This was followed by a contraction in 2019, where net income fell to 315 million US$. The most significant deviation occurred in 2020, resulting in a comprehensive loss of 4,672 million US$. A robust recovery was realized in 2021, with comprehensive income rising to 2,276 million US$, marking the highest peak in the five-year period.
Attribution to Diamondback Energy, Inc.: The comprehensive income attributable to the parent company closely mirrors the overall corporate trend. Earnings for the parent entity grew from 482 million US$ in 2017 to 846 million US$ in 2018, before declining to 240 million US$ in 2019. The 2020 fiscal year recorded a deep deficit of 4,517 million US$, which was subsequently corrected by a return to profitability in 2021 with an income of 2,182 million US$.
Non-Controlling Interest Impact: Comprehensive income attributable to non-controlling interests remained relatively small compared to total income but showed inconsistent directionality. Negative values were recorded in 2017, 2018, 2019, and 2021, indicating income attributed to these interests. Conversely, a positive value of 155 million US$ was observed in 2020, coinciding with the period of overall corporate loss.

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