Baxter International Inc. (NYSE:BAX)

The financial data demonstrates fluctuations and notable trends in net income and various components of comprehensive income over the five-year period analyzed.

Net Income

Net income exhibited moderate growth from 2011 to 2012, increasing from 2,256 million US dollars to 2,326 million US dollars. However, there was a decline in 2013 to 2,012 million US dollars, followed by a recovery in 2014 to 2,497 million US dollars. A significant decrease was observed in 2015, with net income dropping sharply to 968 million US dollars.

Currency Translation Adjustments

Currency translation adjustments showed considerable volatility, with negative values in 2011 (-205 million US dollars) and 2012 (-98 million US dollars), turning positive in 2013 at 236 million US dollars. The adjustments then became markedly negative in 2014 (-1,332 million US dollars) and remained substantially negative in 2015 (-1,094 million US dollars), indicating significant foreign exchange impacts during these years.

Pension and Other Employee Benefits, Net of Tax

This component demonstrated fluctuations without a consistent trend. It was negative in 2011 (-263 million US dollars) and 2012 (-111 million US dollars), turned positive in 2013 with 592 million US dollars, dropped again to -400 million US dollars in 2014, and reverted to a positive 165 million US dollars in 2015. This suggests variability in pension-related gains and losses over time.

Hedging Activities, Net of Tax

Hedging activities remained relatively minor contributors with small fluctuations, ranging between -7 million US dollars in 2012 and 24 million US dollars in 2014. The overall impact of hedging on comprehensive income appears limited.

Available-for-Sale Securities, Net of Tax

There was a notable increase in gains from available-for-sale securities in 2015, surging to 4,438 million US dollars from relatively minor and mostly negative or negligible values in previous years (ranging between -9 million and 34 million US dollars). This significant rise in 2015 strongly influenced total comprehensive income for that year.

Other Comprehensive Income (Loss), Net of Tax

This item followed a volatile pattern, starting with losses in 2011 (-462 million US dollars) and 2012 (-219 million US dollars), shifting to a gain in 2013 (834 million US dollars), then a substantial loss in 2014 (-1,674 million US dollars), and ending with a strong gain in 2015 (3,524 million US dollars). The large positive value in 2015 aligns principally with the significant increase in gains from available-for-sale securities.

Comprehensive Income

Comprehensive income showed variability over the periods, increasing from 1,794 million US dollars in 2011 to a peak of 2,846 million US dollars in 2013. It declined sharply in 2014 to 823 million US dollars before rising substantially to 4,492 million US dollars in 2015. The marked increase in 2015 is mainly attributed to the gains in other comprehensive income components, especially from available-for-sale securities.

Comprehensive Income Attributable to Baxter

The trend mirrors total comprehensive income closely, moving from 1,772 million US dollars in 2011 to 2,107 million US dollars in 2012 and 2,846 million US dollars in 2013, declining significantly to 823 million US dollars in 2014, and rebounding to 4,492 million US dollars in 2015.

Overall, the data indicates a largely volatile pattern in income and comprehensive income driven by external factors such as currency translation and fluctuations in available-for-sale securities. The dramatic changes in 2014 and 2015, notably the severe negative currency translation adjustments and the significant gains in securities respectively, had a pivotal impact on the comprehensive income outcomes during these years. This suggests sensitivity to market and foreign exchange conditions, as well as investment portfolio valuation changes, influencing the company's overall financial results.