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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- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Operating Profit Margin since 2012
- Return on Equity (ROE) since 2012
- Total Asset Turnover since 2012
- Price to Book Value (P/BV) since 2012
- Analysis of Debt
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Kraft Foods Group Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2014-12-27), 10-K (reporting date: 2013-12-28), 10-K (reporting date: 2012-12-29).
- Net Earnings
- Net earnings increased significantly from 1,642 million USD in 2012 to 2,715 million USD in 2013, followed by a sharp decline to 1,043 million USD in 2014. This indicates considerable volatility in profitability over the three-year period.
- Currency Translation Adjustment
- The currency translation adjustment moved from a positive 36 million USD in 2012 to negative values of -68 million USD in 2013 and -91 million USD in 2014, reflecting adverse effects of exchange rate fluctuations on earnings in the latter periods.
- Prior Service Credits
- Prior service credits, which were not present in 2012, showed a gradual increase from 31 million USD in 2013 to 58 million USD in 2014, suggesting growing credits arising during these periods.
- Amortization of Prior Service Credits and Other Amounts
- This amortization was negative across all three years, with a notable increase in magnitude from -6 million USD in 2012 to -22 million USD in 2013, and a slight decrease to -20 million USD in 2014, indicating ongoing recognition of previously deferred costs.
- Tax Expense/Benefit Related to Prior Service Costs
- Tax benefits were minimal and fluctuated slightly, starting at 2 million USD in 2012, turning into a small expense of -3 million USD in 2013, and increasing to a larger expense of -14 million USD in 2014.
- Postemployment Benefits
- Postemployment benefits showed a positive trend, beginning with a cost of -4 million USD in 2012, then turning positive at 6 million USD in 2013 and further improving to 24 million USD in 2014, indicating increasing gains or reduced costs in this area.
- Net Derivative Gains (Losses)
- There was a significant turnaround in net derivative gains/losses, moving from a loss of -322 million USD in 2012 to gains of 33 million USD in 2013 and further positive shift to 90 million USD in 2014, suggesting improved management or favorable market movements related to derivatives.
- Amounts Reclassified from Accumulated Other Comprehensive Losses
- The amounts reclassified fluctuated considerably, with a strong positive figure of 112 million USD in 2012, dropping sharply to 4 million USD in 2013, and then reversing to a negative reclassification of -84 million USD in 2014, indicative of changing impacts on comprehensive income.
- Tax Expense/Benefit Related to Reclassifications
- Tax effects on these reclassifications started at a substantial benefit of 80 million USD in 2012, shifted to an expense of -14 million USD in 2013, and moderated to a small expense of -2 million USD in 2014, reflecting changes in tax implications over time.
- Derivatives Accounted for as Hedges
- This category showed a loss of -130 million USD in 2012, improved to a gain of 23 million USD in 2013, and then stabilized at a modest gain of 4 million USD in 2014, indicating more effective hedging or market conditions affecting hedging instruments.
- Other Comprehensive Losses
- Other comprehensive losses decreased from -98 million USD in 2012 to -39 million USD in 2013, but then increased again to -63 million USD in 2014, signaling some inconsistency in other comprehensive components impacting equity.
- Comprehensive Earnings
- Comprehensive earnings followed a similar pattern to net earnings, improving from 1,544 million USD in 2012 to 2,676 million USD in 2013, then declining sharply to 980 million USD in 2014. Despite fluctuations, comprehensive earnings remained positive throughout, but the volatility suggests exposure to various market and operational factors.