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.
Old Dominion Freight Line Inc., consolidated statement of comprehensive income
US$ in thousands
Based on: 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), 10-K (reporting date: 2018-12-31).
A consistent upward trajectory in net income is observed over the five-year period ending December 31, 2022. The financial results indicate a transition from stable, incremental growth in the early period to accelerated expansion in the later years.
- Net Income Growth Trends
- Between 2018 and 2020, net income experienced modest gains, rising from 605,668 thousand to 672,682 thousand. A significant acceleration in profitability occurred starting in 2021, with net income increasing to 1,034,375 thousand. This growth momentum persisted into 2022, where net income reached 1,377,159 thousand, representing a substantial cumulative increase since 2018.
- Comprehensive Income Analysis
- Comprehensive income remained identical to net income for every year analyzed. The lack of reported other comprehensive income suggests that there were no significant unrealized gains or losses, foreign currency translation adjustments, or other comprehensive income components that deviated from the net profit reported on the income statement.
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