Name: Moderna Inc. (NASDAQ:MRNA) | 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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Moderna Inc., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income (loss)	(4,714)	8,362)	12,202)	(747)	(514)
Unrealized gains (losses) on available-for-sale debt securities	210)	(348)	(42)	3)	3)
Net realized (gains) losses on available-for-sale securities reclassified to net income (loss)	38)	26)	(1)	(1)	—)
Net increase (decrease) from available-for-sale debt securities	248)	(322)	(43)	1)	3)
Unrealized gains (losses) on derivative instruments	—)	130)	74)	—)	—)
Net realized (gains) losses on derivative instruments reclassified to net income (loss)	8)	(154)	(58)	—)	—)
Net increase (decrease) from derivatives designated as hedging instruments	8)	(24)	16)	—)	—)
Pension and postretirement obligation adjustments	(9)	—)	—)	—)	—)
Pension and postretirement benefit plans	(9)	—)	—)	—)	—)
Other comprehensive income (loss), net of tax	247)	(346)	(27)	1)	3)
Comprehensive income (loss)	(4,467)	8,016)	12,175)	(746)	(511)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

The financial trajectory from 2019 through 2023 is characterized by extreme volatility in both net and comprehensive income. A period of initial losses was succeeded by a massive surge in profitability, which has since reversed into a significant loss position.

Profitability Trends: Net income shifted from losses of 514 million in 2019 and 747 million in 2020 to a peak of 12.2 billion in 2021. While profitability remained high in 2022 at 8.4 billion, a sharp decline occurred in 2023, resulting in a net loss of 4.7 billion.
Available-for-Sale Securities: The valuation of available-for-sale debt securities exhibited significant fluctuations. After negligible impacts in 2019 and 2020, unrealized losses peaked in 2022 at 348 million. This trend reversed in 2023, with unrealized gains rising to 210 million, contributing to a positive net increase of 248 million for that period.
Derivative and Hedging Instruments: The utilization of derivative instruments became apparent in 2021, contributing a net increase of 16 million to comprehensive income. This was followed by a net decrease of 24 million in 2022 and a return to a positive contribution of 8 million in 2023, indicating a fluctuating but secondary impact on total comprehensive results.
Overall Comprehensive Income: Comprehensive income closely mirrors the volatility of net income, peaking at 12.2 billion in 2021 before falling to 8.0 billion in 2022 and contracting to a loss of 4.5 billion in 2023. Other comprehensive income items, including a 9 million pension and postretirement benefit plan adjustment in 2023, have had a marginal impact relative to the primary swings in net income.

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