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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Abbott Laboratories, consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 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).
The statement of comprehensive income exhibits considerable fluctuation across the five-year period. Net earnings demonstrate volatility, beginning at US$7,071 million in 2021, decreasing to US$5,723 million in 2023, then experiencing a substantial increase to US$13,402 million in 2024, before declining to US$6,524 million in 2025. This suggests potential sensitivity to external factors or significant internal changes impacting profitability.
- Net Earnings Trend
- A pronounced peak in net earnings is observed in 2024, significantly exceeding prior and subsequent years. The decline in 2025 warrants further investigation to determine the underlying causes, such as increased costs, decreased revenues, or one-time events.
- Foreign Currency Translation Adjustments
- Foreign currency translation adjustments consistently represent a negative impact on comprehensive income in 2021, 2022, and 2024, ranging from US$-894 million to US$-1,001 million. However, positive adjustments of US$229 million and US$1,574 million were recorded in 2023 and 2025 respectively, indicating a shift in the impact of currency fluctuations. This variability highlights exposure to foreign exchange risk.
- Actuarial Gains and Losses
- Net actuarial gains and losses show a decreasing trend from US$1,201 million in 2021 to US$117 million in 2023, followed by a recovery to US$765 million in 2024 and US$610 million in 2025. These fluctuations likely relate to changes in actuarial assumptions, such as discount rates or mortality rates, impacting pension and post-retirement benefit obligations.
- Derivative Instrument Impact
- The impact of derivative instruments designated as cash flow hedges is inconsistent. Losses were recorded in 2023 and 2025 (US$-134 million and US$-279 million respectively), while gains were observed in 2021, 2024 (US$351 million and US$169 million respectively) and a minimal gain in 2022 (US$40 million). This suggests the hedging strategy’s effectiveness varies over time.
- Other Comprehensive Income
- Other comprehensive income demonstrates significant volatility, with a loss of US$-67 million in 2024 contrasting sharply with a gain of US$1,905 million in 2025. This category encompasses items not included in net earnings and contributes substantially to the overall comprehensive income fluctuation.
Comprehensive income mirrors the trend in net earnings, with a peak in 2024 (US$13,335 million) and a subsequent decline in 2025 (US$8,429 million). The considerable variations in other comprehensive income components significantly influence the overall comprehensive income figure, highlighting the importance of considering these items alongside net earnings for a complete picture of financial performance.