Name: Constellation Brands Inc. (NYSE:STZ) | Statement of Comprehensive Income
Creator: Stock Analysis on Net

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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Constellation Brands Inc., consolidated statement of comprehensive income

US$ in thousands

12 months ended:	Feb 28, 2022	Feb 28, 2021	Feb 29, 2020	Feb 28, 2019	Feb 28, 2018	Feb 28, 2017
Net income (loss)	1,000)	2,031,800)	21,400)	3,459,100)	2,330,800)	1,539,200)
Foreign currency translation adjustments	(40,400)	(56,000)	60,800)	(196,800)	153,800)	22,100)
Unrealized gain (loss) on cash flow hedges	(27,800)	(20,900)	40,400)	11,400)	55,500)	7,800)
Unrealized gain (loss) on available-for-sale debt securities	—)	—)	—)	2,500)	(200)	500)
Pension/postretirement adjustments	300)	(1,600)	(600)	500)	(1,100)	11,600)
Share of other comprehensive income (loss) of equity method investments	(12,500)	(1,800)	(10,100)	29,600)	—)	—)
Other comprehensive income (loss), net of income tax effect	(80,400)	(80,300)	90,500)	(152,800)	208,000)	42,000)
Comprehensive income (loss)	(79,400)	1,951,500)	111,900)	3,306,300)	2,538,800)	1,581,200)
Comprehensive (income) loss attributable to noncontrolling interests	(38,200)	(22,700)	(36,100)	(21,400)	(23,000)	6,600)
Comprehensive income (loss) attributable to CBI	(117,600)	1,928,800)	75,800)	3,284,900)	2,515,800)	1,587,800)

Based on: 10-K (reporting date: 2022-02-28), 10-K (reporting date: 2021-02-28), 10-K (reporting date: 2020-02-29), 10-K (reporting date: 2019-02-28), 10-K (reporting date: 2018-02-28), 10-K (reporting date: 2017-02-28).

The financial performance over the six-year period ending February 28, 2022, is characterized by significant volatility in both net income and comprehensive income. While the period initially showed strong growth, subsequent years were marked by sharp contractions and inconsistent recoveries, resulting in a final comprehensive loss for the most recent fiscal year.

Net Income Trends: Net income exhibited a strong upward trajectory from 2017 to 2019, peaking at 3,459,100 thousand US dollars. This growth was followed by a precipitous decline in 2020 to 21,400 thousand US dollars. A substantial recovery occurred in 2021, with net income rising to 2,031,800 thousand US dollars, before falling again to a near-break-even level of 1,000 thousand US dollars in 2022.
Other Comprehensive Income (OCI) Components: Other comprehensive income displayed consistent instability, driven primarily by foreign currency translation adjustments and cash flow hedges. Foreign currency translation fluctuated from a high of 153,800 thousand US dollars in 2018 to a low of -196,800 thousand US dollars in 2019. Unrealized gains on cash flow hedges remained positive through 2020 but turned negative in 2021 and 2022. Additionally, the share of other comprehensive income from equity method investments transitioned from a gain of 29,600 thousand US dollars in 2019 to a loss of 12,500 thousand US dollars by 2022.
Comprehensive Income Attributable to CBI: Comprehensive income attributable to the company mirrored the volatility of net income but was further impacted by the fluctuations in OCI. The peak occurred in 2019 at 3,284,900 thousand US dollars. A sharp contraction occurred in 2020, reducing the figure to 75,800 thousand US dollars. Despite a rebound to 1,928,800 thousand US dollars in 2021, the period concluded with a comprehensive loss of 117,600 thousand US dollars in 2022.
Noncontrolling Interests: The comprehensive income or loss attributable to noncontrolling interests remained consistently negative from 2018 through 2022, ranging from -21,400 thousand US dollars to -38,200 thousand US dollars, indicating a persistent loss trend for these interests over the latter five years of the analyzed period.

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