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.
Paying user area
Try for free
Abbott Laboratories pages available for free this week:
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Abbott Laboratories for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Abbott Laboratories, consolidated statement of comprehensive income
US$ in millions
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 data reflects the financial performance and comprehensive income components over a five-year period. Notable patterns and trends are identified in net earnings, foreign currency translation adjustments, actuarial gains and losses, derivative instrument gains/losses, other comprehensive income, and overall comprehensive income.
- Net Earnings
- Net earnings show significant fluctuations across the years. There was a strong increase from 4,495 million US dollars in 2020 to 7,071 million in 2021, followed by a slight decline to 6,933 million in 2022. The figure then dropped to 5,723 million in 2023 before sharply increasing to 13,402 million in 2024, indicating substantial profitability growth in the latest year.
- Foreign Currency Translation Gain (Loss) Adjustments
- Foreign currency translation adjustments exhibit considerable volatility. After a positive 65 million in 2020, there are notable losses in 2021 and 2022 (-980 million and -894 million respectively). The year 2023 saw a gain of 229 million, but 2024 returned to a significant loss of -1,001 million. This pattern suggests ongoing exposure to foreign exchange risk with large fluctuations impacting the financial statements.
- Net Actuarial Gains (Losses) and Prior Service Costs and Credits, Net of Taxes
- These actuarial adjustments reveal improvement after an initial loss of -331 million in 2020, turning into gains of 1,201 million and 1,177 million for 2021 and 2022 respectively. A sharp decrease to 117 million occurred in 2023, yet the value rebounded to 765 million in 2024. This indicates fluctuating but generally positive effects from actuarial evaluations over time.
- Net Gains (Losses) on Derivative Instruments Designated as Cash Flow Hedges, Net of Taxes
- The impacts from derivative instruments are inconsistent. Starting with a loss of -215 million in 2020, a substantial gain of 351 million was recorded in 2021, followed by a diminished gain of 40 million in 2022. The trend reverted to losses amounting to -134 million in 2023 before recovering to a gain of 169 million in 2024. This suggests varying hedge effectiveness and exposure to market risks.
- Other Comprehensive Income (Loss)
- Other comprehensive income shows swings between negative and positive territory. Beginning with a loss of -481 million in 2020, the company recorded gains of 572 million and 323 million in 2021 and 2022, respectively. There was a continued but reduced gain of 212 million in 2023, followed by a negative figure of -67 million in 2024. This volatility reflects the combined effects of currency, actuarial, and derivative adjustments.
- Comprehensive Income
- Comprehensive income largely tracks the trends in net earnings but is slightly moderated by other comprehensive items. There was growth from 4,014 million in 2020 to 7,643 million in 2021, then a mild decline to 7,256 million in 2022. The value decreased further to 5,935 million in 2023 before increasing substantially to 13,335 million in 2024, mirroring the strong net earnings surge in the most recent year.