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.
lululemon athletica inc., consolidated statement of comprehensive income
US$ in thousands
Based on: 10-K (reporting date: 2026-02-01), 10-K (reporting date: 2025-02-02), 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31).
Comprehensive income demonstrates a generally positive trend over the observed period, though with some volatility. Net income, the primary driver of comprehensive income, experienced substantial growth between 2021 and 2024, followed by a slight decrease in the most recent year presented. Other components of comprehensive income contribute to fluctuations and, in some periods, significantly impact the overall result.
- Net Income
- Net income increased significantly from US$588.913 million in 2021 to US$975.322 million in 2022, representing a growth of approximately 66%. This growth continued into 2023, albeit at a slower pace, reaching US$854.800 million before a substantial increase to US$1,550.190 million in 2024. A modest decline is then observed in 2025 to US$1,814,616 million, followed by a further decrease to US$1,579.183 million in 2026.
- Foreign Currency Translation Adjustment
- The foreign currency translation adjustment exhibits considerable variability. A positive adjustment of US$72.731 million was recorded in 2021, followed by negative adjustments in subsequent years. The negative adjustments increased in magnitude from US$-28.494 million in 2022 to US$-65.571 million in 2023 and US$-23.077 million in 2024. A substantial negative adjustment of US$-253.209 million is noted in 2025, which is then offset by a significant positive adjustment of US$253.160 million in 2026.
- Net Investment Hedge Gains (Losses)
- Net investment hedge gains (losses) are relatively small in comparison to net income and the foreign currency translation adjustment, but demonstrate a fluctuating pattern. A loss of US$-25.305 million was recorded in 2021, followed by gains in 2022, 2023, and 2024, peaking at US$11.405 million. A substantial gain of US$93.024 million is observed in 2025, followed by a loss of US$-59.409 million in 2026.
- Other Comprehensive Income (Loss), Net of Tax
- Other comprehensive income (loss), net of tax, mirrors the volatility seen in the foreign currency translation adjustment. A positive value of US$47.426 million was recorded in 2021, followed by negative values in subsequent years. The negative values increased in magnitude, reaching US$-160.185 million in 2025, before becoming positive again at US$193.751 million in 2026.
- Comprehensive Income
- Comprehensive income generally increased from US$636.339 million in 2021 to US$1,538.518 million in 2024, mirroring the trend in net income. It peaked at US$1,654,431 million in 2025, before decreasing to US$1,772,934 million in 2026. The fluctuations in other comprehensive income components contribute to the overall variability in comprehensive income, particularly in 2025 and 2026.
The significant shifts in foreign currency translation adjustments and other comprehensive income suggest the company’s international operations and hedging activities have a notable impact on overall financial performance. While net income demonstrates strong growth overall, the volatility in other comprehensive income components warrants further investigation.
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