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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- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Apache Corp., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).
The financial data reveals significant fluctuations in net income and comprehensive income over the analyzed five-year period. The net income including noncontrolling interest displayed a pronounced downward trend, starting from a positive figure of 4,584 million US dollars in 2011 and declining sharply by 2015, culminating in a loss of 23,528 million US dollars. This represents a substantial reversal in profitability, with a notable transition to negative results beginning in 2014.
Other comprehensive income items experienced volatility but remained relatively minor in magnitude compared to net income. Pension and postretirement benefit plan impacts, net of tax, showed small variations, with a modest positive adjustment in 2013 and missing data for 2015. Commodity cash flow hedge activity fluctuated between positive and negative values over the period, although the amounts were marginal, signaling minor effects on comprehensive income.
The overall other comprehensive income (loss) followed the hedge activity pattern closely, alternating between gains and losses but remaining small relative to net income changes. The comprehensive income including noncontrolling interest mirrored the changes in net income, with positive values in the initial years followed by significant losses in the last two years.
Comprehensive income attributable to noncontrolling interest presented some irregularities, with no data in the first two years, then recording losses in 2013 and 2014, and a gain in 2015. This variability suggests changes in ownership interests or valuation adjustments impacting minority shareholders differently over time.
The comprehensive income attributable to the company's shareholders showed a similar dramatic decline to net income, shifting from substantial positive figures early on to large losses in the latter years, particularly 2014 and 2015. This indicates a worsening financial position for the shareholders, driven predominantly by operational or market challenges reflected in the net income figures.
- Summary points:
- The company experienced a marked deterioration in profitability between 2011 and 2015, shifting from strong net income to significant losses.
- Other comprehensive income components remained relatively minor and volatile, contributing little to offset the large net income losses.
- Negative comprehensive income predominantly attributable to shareholders signals substantial adverse financial impacts on equity holders in recent years.
- Variability in noncontrolling interest's comprehensive income indicates changing influences or valuations concerning minority ownership.