Name: Monster Beverage Corp. (NASDAQ:MNST) | 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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Monster Beverage Corp., consolidated statement of comprehensive income

US$ in thousands

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income, as reported	1,630,988)	1,191,624)	1,377,475)	1,409,594)	1,107,835)
Change in foreign currency translation adjustment	24,241)	(85,021)	(71,158)	35,531)	194)
Change in net unrealized gains (losses)	5,085)	(4,887)	(1,041)	(110)	283)
Net gains (losses) on commodity derivatives	4,410)	—)	—)	—)	—)
Net change in available-for-sale investments	9,495)	(4,887)	(1,041)	(110)	283)
Other comprehensive income (loss)	33,736)	(89,908)	(72,199)	35,421)	477)
Comprehensive income	1,664,724)	1,101,716)	1,305,276)	1,445,015)	1,108,312)

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 comprehensive income profile exhibits an overall upward trajectory from 2019 to 2023, characterized by strong net income growth that was periodically tempered by volatility in other comprehensive income components.

Net Income Trends: Net income as reported demonstrated a general growth pattern, rising from 1,107,835 thousand US$ in 2019 to 1,630,988 thousand US$ in 2023. A period of volatility is observed between 2020 and 2022, where income peaked in 2020 at 1,409,594 thousand US$ before experiencing a two-year decline. However, 2023 marked a significant recovery, with net income increasing by approximately 36.8% over the previous year.
Other Comprehensive Income (OCI) Volatility: Other comprehensive income displayed substantial fluctuations, shifting from a gain of 35,421 thousand US$ in 2020 to significant losses in 2021 and 2022, reaching a low of -89,908 thousand US$ in 2022. This trend reversed in 2023, with OCI returning to a positive position of 33,736 thousand US$.
Foreign Currency Translation Impacts: Foreign currency translation adjustments served as the primary driver of OCI volatility. A positive impact was recorded in 2020 (35,531 thousand US$), followed by consecutive years of significant negative adjustments in 2021 (-71,158 thousand US$) and 2022 (-85,021 thousand US$). The translation adjustment returned to a positive value of 24,241 thousand US$ in 2023, contributing to the recovery of total comprehensive income.
Investment and Derivative Performance: Net changes in available-for-sale investments trended negatively from 2020 through 2022, with losses widening from -110 thousand US$ to -4,887 thousand US$. A sharp reversal occurred in 2023, with a gain of 9,495 thousand US$, which included a newly reported net gain on commodity derivatives of 4,410 thousand US$.
Comprehensive Income Correlation: Total comprehensive income largely tracked the movement of net income but was modified by the OCI fluctuations. The lowest point occurred in 2022 at 1,101,716 thousand US$, coinciding with both a dip in net income and the peak of foreign currency losses. The period concluded with a five-year high of 1,664,724 thousand US$ in 2023, reflecting the alignment of strong operational earnings and positive comprehensive adjustments.

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