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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- Income Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Aggregate Accruals
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ConocoPhillips, 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 net income over the five-year period. Starting with a significant loss in 2020, net income improved dramatically in 2021 and doubled in 2022, reaching a peak. However, net income decreased in 2023 and 2024, though it remained substantially positive compared to earlier years.
Examining the components of other comprehensive income (OCI), the defined benefit plans item exhibits variability, with losses in 2020 and 2022 contrasted by gains in 2021, 2023, and 2024. This suggests some volatility related to pension or retirement benefit obligations.
Unrealized holding gains and losses on securities are minimal across all years, with small negative values in 2021 and 2022 and minor positive amounts in 2023 and 2024, indicating stable but relatively insignificant impacts from marketable securities.
The foreign currency translation adjustments display considerable volatility, alternating between positive and negative values without a clear directional trend, and reaching a substantial negative adjustment in 2024, which may reflect exchange rate fluctuations and their impact on consolidated financial results.
Unrealized gains (losses) on hedging activities are only reported for 2023 and 2024, with a positive figure in 2023 and a negative one in 2024, suggesting changes in the effectiveness or strategy of risk management instruments during these years.
Other comprehensive income overall reflects significant swings, with gains in 2020, 2021, and 2023 but notable losses in 2022 and 2024. This pattern highlights a degree of instability in items excluded from net income but affecting total comprehensive income.
Comprehensive income mirrors the trends in net income, showing a sharp improvement from a loss in 2020 to strong gains in 2021 and 2022, followed by declines in 2023 and 2024. Comprehensive income attributable to ConocoPhillips aligns closely with these trends, confirming that the majority of comprehensive income is attributable to the primary reporting entity.
- Summary of Key Trends:
- - Net income showed a strong recovery after 2020, peaking in 2022 before declining in subsequent years.
- - Defined benefit plans and foreign currency translation adjustments exhibited volatility, influencing other comprehensive income.
- - Unrealized gains/losses on securities and hedging activities had minor but variable impacts, with hedging reported only in the last two years.
- - Other comprehensive income was inconsistent, reflecting fluctuations in the components that do not affect net income directly.
- - Overall comprehensive income trends largely follow net income movements, indicating net income as the primary driver of total financial performance.