Name: Paramount Global (NASDAQ:PARA) | 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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Paramount Global, consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net earnings, Paramount and noncontrolling interests	1,214)	4,631)	2,701)	3,339)	1,960)
Cumulative translation adjustments	(240)	(143)	134)	15)	(26)
(Increase) decrease to net actuarial loss and prior service costs	337)	75)	(2)	(145)	(87)
Other comprehensive income (loss) from continuing operations, net of tax, Paramount and noncontrolling interests	97)	(68)	132)	(130)	(113)
Other comprehensive income (loss) from discontinued operations	(7)	(3)	5)	—)	—)
Comprehensive income	1,304)	4,560)	2,838)	3,209)	1,847)
Comprehensive income attributable to noncontrolling interests	(105)	(87)	(278)	(33)	—)
Comprehensive income attributable to Paramount	1,199)	4,473)	2,560)	3,176)	1,847)

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).

The financial performance from 2018 to 2022 is characterized by significant volatility in both net earnings and comprehensive income, peaking in 2021 before experiencing a sharp contraction in 2022.

Net Earnings and Comprehensive Income Trends: Net earnings exhibited a general upward trajectory from 2018 to 2021, rising from US$ 1,960 million to a peak of US$ 4,631 million. However, this growth was reversed in 2022, with net earnings falling to US$ 1,214 million, representing a substantial decline from the previous year. Comprehensive income followed a nearly identical pattern, reaching a high of US$ 4,560 million in 2021 before dropping to US$ 1,304 million in 2022.
Other Comprehensive Income (OCI) Components: Cumulative translation adjustments showed extreme fluctuations, shifting from a positive US$ 134 million in 2020 to a negative US$ 240 million by 2022, indicating increased volatility in foreign currency translation. Conversely, the adjustments to net actuarial loss and prior service costs moved from negative values in 2018 and 2019 to a significant positive of US$ 337 million in 2022, providing a partial offset to the decline in net earnings during the final period.
Attribution of Comprehensive Income: The comprehensive income attributable to Paramount closely mirrors the overall comprehensive income trend, peaking at US$ 4,473 million in 2021 and declining to US$ 1,199 million in 2022. Comprehensive income attributable to noncontrolling interests remained negative throughout the period from 2019 to 2022, with the most significant negative impact occurring in 2020 at US$ 278 million.

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