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.
Etsy Inc., consolidated statement of comprehensive income
US$ in thousands
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 results from 2017 to 2021 demonstrate a period of substantial growth in profitability, with a marked acceleration beginning in 2020.
- Net Income Trajectory
- Net income exhibited moderate stability between 2017 and 2019, followed by a significant inflection point in 2020. Profits rose from 81.8 million USD in 2017 to 493.5 million USD by 2021. The most dramatic increase occurred between 2019 and 2020, where net income grew by approximately 263%, indicating a sharp expansion in operational profitability.
- Other Comprehensive Income (OCI) and Volatility
- Other comprehensive income displayed considerable volatility, primarily driven by cumulative translation adjustments. After remaining relatively flat or slightly negative from 2017 through 2019 and seeing a positive swing in 2020, OCI declined sharply to -80.9 million USD in 2021. This indicates that foreign currency translation significantly impacted the total comprehensive results in the final year of the period.
- Comprehensive Income Analysis
- Comprehensive income followed the general upward trend of net income, increasing from 56.9 million USD in 2017 to 412.5 million USD in 2021. However, a notable divergence emerged in 2021; while net income reached its peak, comprehensive income was tempered by the aforementioned negative translation adjustments, resulting in a gap of approximately 81 million USD between the two metrics.
- Marketable Securities Influence
- Unrealized gains and losses on marketable securities remained immaterial throughout the five-year period. The values fluctuated within a narrow range, peaking at 192 thousand USD in 2019 and dipping to -762 thousand USD in 2021, exerting negligible influence on the overall financial position compared to net operational earnings.
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