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
- Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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Deckers Outdoor Corp., consolidated statement of comprehensive income
US$ in thousands
Based on: 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31).
The analysis of the financial data reveals significant developments in the company's income and comprehensive income over the examined periods.
- Net Income
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There is a clear upward trend in net income from the year ending March 31, 2018, through March 31, 2023. The net income increased from $114.4 million in 2018 to $516.8 million in 2023, showing substantial growth. Notably, the largest annual increases appear between 2018 and 2019, as well as in the subsequent years, indicating consistent profitability improvement.
- Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax
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This component exhibits negative values in the first two years, with a loss of $0.61 million in 2018 narrowing to a loss of $0.24 million in 2019. No data are available for subsequent years, which suggests either the absence of such hedging activities or unreported values in this category from 2020 onwards.
- Foreign Currency Translation Gain (Loss)
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Foreign currency translation effects demonstrate substantial volatility. In 2018, there was a positive gain of $14.1 million, which shifted dramatically to a loss of $9.4 million in 2019. This loss continued in 2020 at a smaller magnitude (-$2.9 million), followed by a positive gain in 2021 of $8.8 million. However, losses resumed in 2022 and 2023, growing in size to -$8.2 million and -$14.1 million respectively. This pattern indicates significant exposure to foreign exchange fluctuations with no consistent directional trend.
- Other Comprehensive Income (Loss), Net of Tax
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The pattern of other comprehensive income mirrors the foreign currency translation gains and losses almost identically, reflecting its composition predominantly from this component. After an initial gain in 2018, there is a series of losses in subsequent years with a brief recovery in 2021. The losses deepen in 2022 and 2023, consistent with adverse currency translation effects.
- Comprehensive Income
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Comprehensive income demonstrates an overall increase consistent with the trends in net income. Starting at $127.9 million in 2018, it grows to $502.7 million in 2023. Despite fluctuations and losses in other comprehensive income components, the growth in net income drives a significant rise in total comprehensive income, indicating robust overall financial performance. The negative impacts of foreign currency translations and hedging losses somewhat temper but do not offset the gains realized in net income.
In summary, the company's profitability has increased markedly over the period, driven by rising net income. Volatility in foreign currency translation gains and losses introduces fluctuations in comprehensive income components, but the strong net income growth remains the dominant factor enhancing overall financial results.