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.
Paying user area
Try for free
CVS Health Corp. pages available for free this week:
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Analysis of Debt
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to CVS Health Corp. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
CVS Health Corp., consolidated statement of comprehensive income
US$ in millions
Based on: 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), 10-K (reporting date: 2020-12-31).
The financial data reveals notable fluctuations in key income metrics over the five-year period. Net income exhibited variability, with a peak in 2023 at 8,368 million US dollars after declining sharply in 2022 to 4,165 million US dollars. The initial years, 2020 and 2021, showed relatively strong net income figures of 7,192 and 7,898 million US dollars respectively. Following the 2023 peak, net income again decreased to 4,586 million US dollars in 2024, indicating some instability in profitability.
Net unrealized investment gains and losses showed significant volatility as well. Gains were recorded in 2020 at 440 million US dollars, turning into losses of -436 million in 2021 and deepening further to -2,279 million in 2022. A recovery was seen in 2023 with gains of 1,090 million, while 2024 saw a much smaller gain of 30 million. This trend highlights fluctuations in investment valuation impacts on comprehensive income.
The change in discount rate on long-duration insurance reserves was reported only in 2023 and 2024, showing a loss of -67 million followed by a gain of 113 million US dollars. This suggests emerging impacts from actuarial adjustments in recent years.
Foreign currency translation adjustments and net cash flow hedges exhibited minor changes with small positive and negative values, indicating limited impact from currency fluctuations and hedging activities on overall results. Pension and other postretirement benefits showed fluctuations, with losses in 2022 and 2023 (-168 and -61 million US dollars) and gains in 2021 and 2024 (20 and 53 million US dollars), reflecting changes in employee benefit obligations.
Other comprehensive income (loss), net of tax, followed a pattern consistent with net unrealized investment gains and losses, shifting from a gain of 395 million US dollars in 2020 to significant losses in 2021 and 2022 (-449 and -2,430 million US dollars), before recovering to gains in 2023 and 2024 (967 and 177 million US dollars). This indicates volatility in elements outside net income that affect equity.
Comprehensive income displayed a similar pattern to net income, with a decrease to 1,735 million US dollars in 2022 from previous higher levels, followed by a peak of 9,335 million in 2023, and a subsequent fall to 4,763 million in 2024. Comprehensive (income) loss attributable to noncontrolling interests fluctuated between losses and gains but remained relatively minor in magnitude.
The comprehensive income attributable to CVS Health closely mirrored the aggregate comprehensive income trend, confirming that the majority of comprehensive income changes were attributable to the company itself rather than minority interests.
- Summary of Key Trends
- Net income and comprehensive income exhibited significant variability, with a pronounced dip in 2022 and a strong rebound in 2023, followed by another decline in 2024.
- Investment-related gains and losses greatly influenced overall comprehensive income volatility.
- Emerging impacts from long-duration insurance reserves were noted in the latter years.
- Minor fluctuations were seen in foreign currency adjustments, hedges, and pension obligations, suggesting limited but notable secondary effects on financial results.
- The company's attributable comprehensive income closely tracked overall comprehensive income, indicating consistent control over earnings volatility.