Name: Steel Dynamics Inc. (NASDAQ:STLD) | 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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Steel Dynamics Inc., consolidated statement of comprehensive income

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net income	3,246,814)	570,828)	677,900)	1,255,805)	805,796)
Net unrealized gain (loss) on cash flow hedging derivatives, net of income tax	(3,993)	1,909)	(308)	301)	—)
Other comprehensive income (loss)	(3,993)	1,909)	(308)	301)	—)
Comprehensive income	3,242,821)	572,737)	677,592)	1,256,106)	805,796)
Comprehensive (income) loss attributable to noncontrolling interests	(32,748)	(20,006)	(6,797)	2,574)	6,945)
Comprehensive income attributable to Steel Dynamics, Inc.	3,210,073)	552,731)	670,795)	1,258,680)	812,741)

Based on: 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), 10-K (reporting date: 2017-12-31).

The financial performance over the five-year period from 2017 to 2021 is characterized by significant volatility in net income, culminating in a substantial increase in the final year. While net income and comprehensive income generally trended together, the magnitude of growth observed in 2021 represents a sharp departure from the previous four years of performance.

Net Income and Comprehensive Income Trends: Net income experienced an initial rise from 805,796 thousand US dollars in 2017 to 1,255,805 thousand US dollars in 2018. This was followed by a two-year decline, with values dropping to 677,900 thousand US dollars in 2019 and further to 570,828 thousand US dollars in 2020. However, 2021 saw an exponential increase to 3,246,814 thousand US dollars, representing a growth of approximately 468% compared to the prior year.
Impact of Other Comprehensive Income: Other comprehensive income, driven primarily by net unrealized gains or losses on cash flow hedging derivatives, remained immaterial relative to net income. The values fluctuated between a gain of 1,909 thousand US dollars in 2020 and a loss of 3,993 thousand US dollars in 2021, exerting negligible influence on the total comprehensive income figures.
Attribution to Noncontrolling Interests: A notable shift is observed in the comprehensive income attributable to noncontrolling interests. In 2017 and 2018, these figures were positive, at 6,945 thousand US dollars and 2,574 thousand US dollars, respectively. From 2019 onward, this figure transitioned into a loss and expanded in magnitude, reaching -32,748 thousand US dollars by 2021. This trend indicates an increasing negative attribution to noncontrolling interests over the analyzed period.
Comprehensive Income Attributable to Steel Dynamics, Inc.: The comprehensive income attributable to the parent company mirrored the overall trajectory of net income. After peaking in 2018 at 1,258,680 thousand US dollars and dipping to a low of 552,731 thousand US dollars in 2020, it surged to 3,210,073 thousand US dollars in 2021. The disparity between total comprehensive income and the amount attributable to the parent company widened as noncontrolling interests shifted further into negative territory.

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