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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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Reportable Segments
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
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Boston Scientific Corp., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
The financial data reveals notable volatility in the net income figures over the five-year period. The net income started at a positive value of 1,671 million US dollars in 2018, peaked significantly at 4,700 million in 2019, and then experienced a sharp downturn to a loss of 82 million in 2020. Subsequently, net income recovered to 1,041 million in 2021 before declining again to 698 million in 2022. This pattern indicates substantial fluctuation in profitability, with 2019 being an exceptional year followed by a significant loss in 2020 and partial recovery in the following years.
- Foreign currency translation adjustment
- This item shows variability over the years, starting with a small negative adjustment of 21 million in 2018, increasing to a positive 195 million in 2019, followed by moderate positive and negative shifts in subsequent years. The negative adjustments in 2021 and 2022 (-125 million and -94 million, respectively) suggest currency headwinds impacting the financial statements in the latter part of the period.
- Net change in derivative financial instruments
- Derivative financial instruments experienced mixed results, with positive impacts of 110 and 62 million in 2018 and 2019. However, this was reversed by a significant negative change of -138 million in 2020. The following years saw positive changes again, with 170 million in 2021 and 63 million in 2022. This volatility suggests considerable variability in the company's risk management or market exposure.
- Net change in defined benefit pensions and other items
- The adjustments related to defined benefit pensions and other items remained relatively minor throughout the period, fluctuating close to zero. The values show a small negative adjustment in 2019 (-20 million) and the largest positive adjustment of 37 million in 2022, indicating modest impacts from these elements on overall comprehensive income.
- Other comprehensive income (loss), net of tax
- Other comprehensive income mirrored some of the volatility seen in derivatives and currency translation adjustments. Starting positively at 91 million in 2018, it peaked at 237 million in 2019, turned negative in 2020 (-63 million), and then returned to positive territories in 2021 and 2022, albeit at lower levels (55 million and 6 million). This trend reflects fluctuations in comprehensive income components outside net income.
- Comprehensive income (loss)
- Comprehensive income largely followed the trajectory of net income and other comprehensive income, starting at 1,762 million in 2018 and reaching a high of 4,937 million in 2019 before declining sharply to -145 million in 2020. It rebounded to 1,096 million in 2021 but declined again to 704 million in 2022. These figures underscore the overall fluctuations in profitability, including recognized gains and losses beyond the profit and loss statement.