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 Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2010
- Current Ratio since 2010
- Price to Earnings (P/E) since 2010
- Analysis of Revenues
- Aggregate Accruals
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Tesla Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 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).
The financial data reveals several notable trends over the five-year period. Net income exhibited a strong upward trajectory from 2020 through 2023, rising from 862 million US dollars in 2020 to a peak of 14,974 million US dollars in 2023. However, in 2024, net income declined sharply to 7,153 million US dollars, indicating a significant reduction compared to the previous year.
Foreign currency translation adjustment showed considerable volatility, with positive values in 2020 and 2023 (399 million and 198 million US dollars respectively), contrasted by negative values in 2021, 2022, and 2024 (-308 million, -392 million, and -539 million US dollars respectively). This suggests fluctuations in exchange rates or international operations impacting the financial statements.
The unrealized net gain (loss) on investments, net of tax, remained minimal throughout the period, with minor negative values in 2021 and 2022 and slight positive adjustments in 2023 and 2024. It neither had a substantial positive nor negative impact.
A small realized net gain included in net income was recorded only in 2023, amounting to 4 million US dollars, indicating occasional gains from asset sales or other realizations.
Other comprehensive income (loss) mirrored the pattern of the foreign currency translation adjustment, reflecting negative results in 2021 and 2022, a positive result in 2023, and a significant loss in 2024. This item contributes to the overall comprehensive income variability over time.
Comprehensive income closely follows the trend of net income, increasing from 1,261 million US dollars in 2020 to a peak of 15,192 million US dollars in 2023 before dropping to 6,626 million US dollars in 2024. The decline in 2024 suggests challenges affecting overall equity gains beyond the income statement.
Comprehensive income attributable to noncontrolling interests was negative in most years, fluctuating between -141 million and 23 million US dollars. Its impact is relatively smaller compared to the total comprehensive income but shows some variability.
Finally, comprehensive income attributable to common stockholders largely mirrors the comprehensive income trend, with an increase from 1,120 million US dollars in 2020, peaking at 15,215 million US dollars in 2023, followed by a decline to 6,564 million US dollars in 2024. This pattern indicates common shareholders experienced significant gains during the period with a notable contraction in the latest year.
- Summary of Key Observations:
- - Sustained growth in net income and comprehensive income from 2020 to 2023, followed by a marked decrease in 2024.
- - Foreign currency effects contributed notably to income statement volatility, especially negative impacts in multiple years.
- - Investment-related gains/losses had minimal influence throughout the period.
- - Comprehensive income attributable to common stockholders closely aligns with overall comprehensive income trends.