Name: Apache Corp. (NYSE:APA) | 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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Apache Corp., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011
Net income (loss) including noncontrolling interest	(23,528)	(5,060)	2,288)	2,001)	4,584)
Pension and postretirement benefit plan, net of tax	—)	—)	9)	(2)	(1)
Commodity cash flow hedge activity, net of tax	—)	(1)	16)	(120)	133)
Other comprehensive income (loss)	—)	(1)	25)	(122)	132)
Comprehensive income (loss) including noncontrolling interest	(23,528)	(5,061)	2,313)	1,879)	4,716)
Comprehensive (income) loss attributable to noncontrolling interest	409)	(343)	(56)	—)	—)
Comprehensive income (loss) attributable to Apache shareholders	(23,119)	(5,404)	2,257)	1,879)	4,716)

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 performance of the entity from 2011 to 2015 is characterized by a severe deterioration in profitability, transitioning from significant net gains to substantial losses. While the company maintained positive earnings through 2013, a sharp reversal occurred in 2014, which intensified dramatically by the end of 2015.

Net Income and Comprehensive Income Trends: A precipitous decline in net income is observed over the five-year period. Net income including noncontrolling interest decreased from 4,584 million US$ in 2011 to 2,001 million US$ in 2012, followed by a marginal recovery to 2,288 million US$ in 2013. However, the company entered a deficit in 2014 with a loss of 5,060 million US$, which expanded to a loss of 23,528 million US$ in 2015. Comprehensive income mirrored this trajectory, falling from 4,716 million US$ in 2011 to a loss of 23,528 million US$ in 2015.
Other Comprehensive Income (OCI) Components: OCI items remained relatively immaterial compared to the scale of net income and losses. Commodity cash flow hedge activity fluctuated, contributing 133 million US$ in 2011 and -120 million US$ in 2012, before becoming negligible in subsequent years. Pension and postretirement benefit plan adjustments were similarly minimal, ranging from -2 million US$ to 9 million US$ between 2011 and 2013.
Shareholder Attributable Comprehensive Income: The comprehensive income attributable to shareholders reflects the broader operational decline. The value dropped from 4,716 million US$ in 2011 to a deficit of 5,404 million US$ in 2014, eventually reaching a loss of 23,119 million US$ in 2015. The divergence between comprehensive income and shareholder-attributable income was most notable in 2014 and 2015, influenced by the movements in comprehensive loss attributable to noncontrolling interests, which shifted from a loss of 343 million US$ in 2014 to a gain of 409 million US$ in 2015.

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