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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- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Current Ratio since 2005
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Steel Dynamics Inc., consolidated statement of comprehensive income
US$ in thousands
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 presented periods exhibits notable fluctuations in key income metrics. Net income experienced a significant increase from 2017 to 2018, rising from approximately 806 million to over 1.25 billion US dollars. However, this was followed by a substantial decline in 2019 and 2020, with net income falling to approximately 678 million and 571 million, respectively. In 2021, net income surged sharply to exceed 3.24 billion US dollars, representing the highest value in the dataset by a wide margin.
Other comprehensive income, including gains and losses on cash flow hedging derivatives net of income tax, demonstrated variability with relatively smaller amounts compared to net income. There was no reported value in 2017. In 2018, a slight positive gain was noted (301 thousand US dollars), followed by a small loss in 2019 (-308 thousand). The year 2020 saw a positive gain (1909 thousand), whereas 2021 experienced a more pronounced negative movement (-3993 thousand).
Comprehensive income closely followed the net income trend, reflecting the combined impact of net income and other comprehensive income items. It peaked in 2021 at approximately 3.24 billion US dollars, coherent with the net income pattern, while showing a dip in the 2019 and 2020 periods. This indicates that fluctuations in other comprehensive income had limited influence relative to net income figures.
Comprehensive income attributable to noncontrolling interests showed a declining trend over the period. It decreased from 6.9 million US dollars in 2017 to a negative 32.7 million US dollars in 2021, indicating increasing losses or decreasing contributions from these interests to the overall comprehensive income.
Consequently, comprehensive income attributable to Steel Dynamics, Inc. mirrored the overall comprehensive income movements but adjusted for the impact of noncontrolling interests. The amount increased from approximately 813 million in 2017 to nearly 1.26 billion in 2018, declined notably through 2019 and 2020, and then rose substantially in 2021 to over 3.21 billion US dollars.
- Net income trend
- Initial growth (2017-2018), decline over two years (2019-2020), sharp increase in 2021.
- Other comprehensive income
- Minor fluctuations with small losses and gains, negative in 2021.
- Comprehensive income
- Generally follows net income trends, limited impact from other comprehensive income.
- Noncontrolling interests
- Consistent downward trend, shifting into increasingly negative values.
- Comprehensive income attributable to Steel Dynamics, Inc.
- Reflects overall income trends adjusted for noncontrolling interests, peaking in 2021.