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
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Analysis of Debt
- Aggregate Accruals
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Vertex Pharmaceuticals Inc., consolidated statement of comprehensive income
US$ in thousands
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 significant trends and fluctuations over the five-year period. The net income generally exhibits strong positive values from 2020 to 2023, peaking notably in 2023 before experiencing a sharp decline to a negative figure in 2024. This suggests a substantial downturn in profitability in the most recent year compared to prior periods.
Regarding unrealized holding gains and losses on marketable securities, the values alternate between negative and positive but remain relatively moderate in scale. Notably, there is a considerable increase in gains in 2023, followed by a reversal to losses in 2024, indicating volatility in the marketable securities segment during these years.
Unrealized gains and losses on foreign currency forward contracts fluctuate markedly, with a substantial loss recorded in 2020 shifting to a sizeable gain in 2021. This is followed by another loss and gain in subsequent years, culminating in a peak gain in 2024. Such variability reflects sensitivity to foreign exchange movements and possibly hedging activities that impact the financial results unevenly across the years.
Foreign currency translation adjustments show less volatility but still demonstrate swings between negative and positive amounts. After a negative adjustment in 2020, there is a positive adjustment in 2021, a return to negative in 2022, and subsequent positive values in 2023 and 2024. This indicates ongoing exposure and fluctuating effects from foreign currency translation on the financial statements.
Other comprehensive income, which aggregates some of these components, reflects the underlying fluctuations in unrealized gains/losses and currency adjustments. The value transitions from a negative figure in 2020 to positive in 2021, returns to a negative position in following years, and then sharply rises to a significant positive figure in 2024. This demonstrates an overall variance in comprehensive income drivers distinct from net income trends.
Comprehensive income mirrors the net income pattern closely but is influenced by other comprehensive elements. It maintains a robust positive stance from 2020 through 2023, with moderate increases and decreases, followed by a drop to a negative figure in 2024. This suggests that despite some gains from other comprehensive items, the negative net income impact in 2024 dominates the overall comprehensive income outcome.
- Net Income
- Strong profitability from 2020 to 2023 with a peak in 2023; sharp loss in 2024.
- Unrealized Gains/Losses on Marketable Securities
- Volatile, with moderate values fluctuating between gains and losses; highest gains in 2023, losses again in 2024.
- Unrealized Gains/Losses on Foreign Currency Forward Contracts
- Highly variable across years, large swings from losses to gains and back, culminating in substantial gains in 2024.
- Foreign Currency Translation Adjustment
- Moderate fluctuations between positive and negative values, showing exposure to exchange rate effects.
- Other Comprehensive Income
- Irregular pattern with shifts between negative and positive, peaking positively in 2024.
- Comprehensive Income
- Generally strong and positive alongside net income through 2023; turns negative sharply in 2024, reflecting net income deterioration.