Name: Warner Bros. Discovery Inc. (NASDAQ:WBD) | 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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Warner Bros. Discovery Inc., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net income (loss)	1,197)	1,355)	2,213)	681)	(313)
Currency translation	(290)	292)	(15)	(189)	183)
Available-for-sale securities	—)	—)	—)	—)	15)
Pension plan and SERP	2)	(8)	(10)	3)	—)
Derivatives	109)	(113)	18)	12)	(20)
Other comprehensive income (loss) adjustments, net of tax	(179)	171)	(7)	(174)	178)
Comprehensive income (loss)	1,018)	1,526)	2,206)	507)	(135)
Comprehensive income attributable to noncontrolling interests and redeemable noncontrolling interests	(191)	(136)	(144)	(87)	(25)
Comprehensive income (loss) attributable to Discovery, Inc.	827)	1,390)	2,062)	420)	(160)

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 from 2017 to 2021 is characterized by a significant recovery from initial losses, a peak in profitability during 2019, and a subsequent moderate decline. Total comprehensive income shifted from a loss of 135 million US$ in 2017 to a peak of 2,206 million US$ in 2019, before decreasing to 1,018 million US$ by the end of 2021.

Net Income Trajectory: A substantial turnaround occurred between 2017 and 2019, with net income moving from a deficit of 313 million US$ to a high of 2,213 million US$. Following this peak, a downward trend is observed, with values decreasing to 1,355 million US$ in 2020 and 1,197 million US$ in 2021, indicating a stabilization at a lower level of profitability compared to the 2019 high.
Other Comprehensive Income Volatility: Components of other comprehensive income, specifically currency translation and net adjustments, exhibit significant volatility. Currency translation fluctuated sharply, alternating between gains, such as 292 million US$ in 2020, and losses, such as -290 million US$ in 2021. This instability suggests a high sensitivity to foreign exchange fluctuations, which frequently offsets or enhances net income results.
Analysis of Attributable Income: Comprehensive income attributable to Discovery, Inc. mirrored the overall corporate trend, peaking at 2,062 million US$ in 2019. However, losses attributable to noncontrolling interests grew steadily over the period, increasing from -25 million US$ in 2017 to -191 million US$ in 2021, which exerted a widening negative impact on the total comprehensive income available to the parent entity.
Derivative and Pension Impacts: Impacts from derivatives and pension plans remained relatively marginal compared to net income. Derivative adjustments showed inconsistency, moving from a loss of 113 million US$ in 2020 to a gain of 109 million US$ in 2021. Pension plan and SERP adjustments remained minimal, with values fluctuating within a narrow range between -10 million US$ and 3 million US$.

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