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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- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Selected Financial Data since 2005
- Current Ratio since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Bristol-Myers Squibb Co., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The statement of comprehensive income reveals significant fluctuations in financial performance over the five-year period. Net earnings demonstrate volatility, beginning at US$7,014 million in 2021, decreasing to US$6,345 million in 2022, increasing to US$8,040 million in 2023, then experiencing a substantial loss of US$8,933 million in 2024, before recovering to a profit of US$7,055 million in 2025. Comprehensive income mirrors this pattern, with a loss recorded in 2024.
- Net Earnings Trend
- Net earnings initially declined before a strong recovery in 2023. The significant net loss in 2024 is a key area of concern, followed by a return to profitability in 2025, though not reaching the 2023 level. This volatility suggests potential underlying business factors or one-time events impacting profitability.
- Other Comprehensive Income (OCI)
- Other comprehensive income exhibits considerable variability. After positive contributions in 2021 and 2024, it experienced losses in 2022, 2023, and 2025. The largest single impact on comprehensive income, aside from net earnings, appears to stem from fluctuations within OCI components.
- Derivatives and Pension Adjustments
- Derivatives qualifying as cash flow hedges show inconsistent impacts, ranging from gains of US$415 million in 2021 to losses of US$230 million in 2023. Pension and postretirement benefit adjustments also fluctuate, with a loss in 2023 and gains in other years, though generally smaller in magnitude than derivative impacts. These items contribute to the overall volatility in comprehensive income.
- Foreign Currency Translation
- Foreign currency translation adjustments are notably negative in 2022 and 2024, indicating adverse impacts from exchange rate movements. While positive in 2023, the effect is relatively small compared to the negative impacts in other years. This suggests exposure to foreign exchange risk.
- Attribution to Noncontrolling Interest
- Comprehensive income attributable to noncontrolling interest remains relatively stable, decreasing slightly over the period from US$20 million to US$2 million. This component has a minimal impact on the overall comprehensive income attributable to the company.
Overall, the period is characterized by significant earnings volatility. While comprehensive income generally follows the trend of net earnings, the influence of other comprehensive income components, particularly derivatives, pension adjustments, and foreign currency translation, adds complexity to the overall financial picture. The substantial loss in 2024 warrants further investigation to understand the underlying causes and assess the sustainability of the recovery observed in 2025.