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: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Walgreens Boots Alliance Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-31), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31).
The financial data reveals several notable trends and fluctuations over the six-year period analyzed.
- Net earnings
- Net earnings demonstrate considerable variation, increasing from 2,031 million USD in 2014 to a peak of 5,031 million USD in 2018. However, in 2019, net earnings declined sharply to 3,962 million USD. This pattern indicates volatility with a strong growth phase up to 2018 followed by a substantial decrease.
- Pension/postretirement obligations
- This item fluctuates significantly, ranging from negative values as low as -241 million USD in 2016 to positive values reaching 240 million USD in 2018. The swinging values suggest variability in the company's pension and postretirement liability management or actuarial adjustments during the period.
- Unrealized gain (loss) on cash flow hedges
- Starting with negative values in 2014 and 2015, this item turns positive from 2016 onward, notably rising to 60 million USD in 2019. This positive trend reflects improving outcomes from hedging activities or favorable market conditions affecting hedges.
- Unrecognized gain (loss) on available-for-sale investments
- Significant volatility is observed with gains initially reported in 2014 and 2015 (106 and 152 million USD respectively), followed by substantial losses in 2016 (-257 million USD) and 2017 (-2 million USD). Data for 2018 and 2019 is missing, impeding further analysis. The sharp variation suggests exposure to market risks impacting investment valuations.
- Share of other comprehensive income (loss) of equity method investments
- This component fluctuates close to zero, with minor positive and negative values, indicating a relatively stable yet marginal impact on overall comprehensive income from equity method investments.
- Cumulative translation adjustments
- A marked downward trend is evident, with adjustments shifting from a positive 286 million USD in 2014 to significantly negative values in subsequent years, reaching as low as -2,338 million USD in 2016 and remaining substantially negative thereafter. This pattern suggests foreign currency translation losses impacting consolidated results, possibly due to exchange rate movements or changes in foreign operations.
- Other comprehensive income (loss), net of tax
- Reflecting the cumulative effect of the above components, this line item exhibits large swings from a positive 276 million USD in 2014 to a pronounced negative of -2,834 million USD in 2016, with partial recovery in later years but remaining negative at -909 million USD in 2019. Such fluctuations indicate significant volatility in comprehensive income elements beyond net earnings.
- Comprehensive income
- Comprehensive income generally trends upward from 2,307 million USD in 2014 to a high of 5,081 million USD in 2018, then falls sharply to 3,053 million USD in 2019. The overall pattern largely mirrors net earnings but is moderated by the substantial volatility in other comprehensive income components.
- Comprehensive (income) loss attributable to noncontrolling interests
- This item remains relatively small with mixed positive and negative values, indicating minor impact on the overall comprehensive income attributable to noncontrolling interests.
- Comprehensive income attributable to Walgreens Boots Alliance, Inc.
- The comprehensive income attributable to the parent company shows a trend consistent with total comprehensive income, rising from 2,208 million USD in 2014 to 5,073 million USD in 2018, before declining to 3,086 million USD in 2019. This reinforces the observation of peak performance in 2018 followed by a downturn.
Overall, the data highlights a period of growth culminating around 2018, accompanied by substantial fluctuations in pension obligations, investment valuation adjustments, and translation effects, which collectively contribute to volatility in comprehensive income. The notable decline in both net earnings and comprehensive income in 2019 underscores a potential challenge faced in the latest reporting year.