Stock Analysis on Net

Intuit Inc. (NASDAQ:INTU)

$24.99

Statement of Comprehensive Income

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Intuit Inc., consolidated statement of comprehensive income

US$ in millions

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12 months ended: Jul 31, 2024 Jul 31, 2023 Jul 31, 2022 Jul 31, 2021 Jul 31, 2020 Jul 31, 2019
Net income
Unrealized gain (loss) on available-for-sale debt securities
Foreign currency translation gain (loss)
Cumulative translation adjustment reclassified to net income
Other comprehensive income (loss), net of income taxes
Comprehensive income

Based on: 10-K (reporting date: 2024-07-31), 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31).


Net Income
Net income demonstrates a strong upward trend over the analyzed period. Starting at 1,557 million US dollars in 2019, it steadily increased each year, reaching 2,963 million US dollars by 2024. The growth appears consistent, with slight accelerations in recent years, particularly between 2023 and 2024.
Unrealized Gain (Loss) on Available-for-Sale Debt Securities
This item shows considerable volatility. Initial gains were recorded in 2019 and 2020, with 3 and 5 million US dollars respectively. However, this shifted to losses in 2021 and 2022 (-3 and -10 million), followed by an absence of data in 2023 and a recovery to a 7 million gain in 2024. This pattern indicates fluctuating value adjustments in the debt securities portfolio.
Foreign Currency Translation Gain (Loss)
Foreign currency translation gains and losses exhibit variability without a clear consistent trend. Losses occurred in 2019, 2020, 2022, and 2024, with amounts ranging from -1 to -26 million US dollars. Positive gains were observed in 2021 and 2023 (11 and 5 million respectively). The foreign currency impact appears to be unpredictable and contributes to volatility in other comprehensive income.
Cumulative Translation Adjustment Reclassified to Net Income
Only recorded in 2024 with a positive value of 9 million US dollars. This reclassification may suggest some prior adjustments have been realized through net income recently.
Other Comprehensive Income (Loss), Net of Income Taxes
The other comprehensive income category reflects notable fluctuations. Positive amounts were seen in 2020, 2021, 2023, and 2024, ranging from 1 to 8 million US dollars. In contrast, a significant loss occurred in 2022 with -36 million US dollars. This indicates variability in elements excluded from net income but impacting equity.
Comprehensive Income
Comprehensive income generally follows net income trends but with slight deviations due to other comprehensive income components. It increased from 1,557 million US dollars in 2019 to 2,964 million US dollars in 2024. Minor declines or slower growth occurred in 2022, when total comprehensive income (2,030 million) was slightly lower than prior year net income, highlighting the impact of negative other comprehensive items in that year.