Name: AmerisourceBergen Corp. (NYSE:ABC) | 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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AmerisourceBergen Corp., consolidated statement of comprehensive income

US$ in thousands

12 months ended:	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
Net income (loss)	1,666,540)	1,544,608)	(3,399,558)	854,135)	1,615,892)	364,484)
Foreign currency translation adjustments	(1,426,741)	(334,522)	(7,872)	(32,957)	(36,904)	16,540)
Loss on consolidation of equity investments	—)	—)	—)	—)	45,941)	—)
Other, net	4,910)	10)	(1,074)	(271)	(756)	1,918)
Other comprehensive income (loss)	(1,421,831)	(334,512)	(8,946)	(33,228)	8,281)	18,458)
Comprehensive income (loss)	244,709)	1,210,096)	(3,408,504)	820,907)	1,624,173)	382,942)
Comprehensive (income) loss attributable to noncontrolling interests	68,583)	(6,776)	2,923)	1,746)	50,829)	—)
Comprehensive income (loss) income attributable to AmerisourceBergen Corporation	313,292)	1,203,320)	(3,405,581)	822,653)	1,675,002)	382,942)

Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).

The financial performance from 2017 through 2022 is characterized by significant volatility in net income and an accelerating negative impact from foreign currency translation adjustments, leading to a widening divergence between net income and total comprehensive income.

Net Income Volatility: Net income experienced substantial fluctuations during the period. After an increase from 364 million in 2017 to approximately 1.6 billion in 2018, a sharp decline occurred in 2020, resulting in a net loss of approximately 3.4 billion. This was followed by a strong recovery in 2021 and 2022, with net income stabilizing at approximately 1.6 billion by the end of the period.
Other Comprehensive Income (OCI) and Currency Impacts: A severe downward trend is observed in other comprehensive income, primarily driven by foreign currency translation adjustments. While these adjustments were relatively modest between 2017 and 2020, they escalated significantly to a loss of 334 million in 2021 and 1.4 billion in 2022. This suggests increasing exposure to currency volatility or unfavorable exchange rate movements in international operations.
Comprehensive Income Divergence: The relationship between net income and comprehensive income shifted dramatically over the six-year period. In the earlier years, comprehensive income closely mirrored net income. However, by 2022, a stark divergence emerged; despite a robust net income of 1.6 billion, the total comprehensive income was reduced to 244 million due to the aforementioned currency translation losses.
Attribution to Noncontrolling Interests: Comprehensive income attributable to noncontrolling interests remained relatively immaterial compared to the total figures for most of the period, though a peak of 68.5 million was recorded in 2022.

In summary, while the core operational profitability as measured by net income has recovered to 2018 levels, the overall economic value captured in comprehensive income has been significantly eroded by systemic foreign exchange losses in the final two years of the analysis.

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