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.
Delta Air Lines Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
The financial data reveals several notable trends over the five-year period ending December 31, 2021.
- Net Income (Loss)
- Net income demonstrated an upward trend from 2017 to 2019, increasing from $3,577 million to $4,767 million. However, there was a significant and sharp decline in 2020, resulting in a substantial loss of $12,385 million. This loss was followed by a recovery in 2021, with net income returning to a positive $280 million, though still well below pre-2020 levels.
- Net Change in Derivative Contracts and Other
- This item showed relatively small fluctuations, declining from $113 million in 2017 to $6 million in 2019, followed by a negative $66 million in 2020. There is no data reported for 2021, indicating either a zero value or unreported figures for that year.
- Net Change in Pension and Other Benefits
- The net change in pension and other benefits was negative and increasingly so through 2019, moving from -$98 million in 2017 to -$170 million in 2019. In 2020, however, there was an even sharper negative movement of -$983 million. The pattern changed dramatically in 2021 with a significant positive reversal to $1,908 million.
- Other Comprehensive Income (Loss)
- Other comprehensive income followed a similar pattern to pension and other benefits, showing minor positive values in 2017 but turning more negative through 2019 to 2020, reaching -$1,049 million. Like pension benefits, this figure reversed sharply to a positive $1,908 million in 2021.
- Comprehensive Income (Loss)
- Comprehensive income, which includes net income and other comprehensive items, increased steadily from $3,592 million in 2017 to $4,603 million in 2019. This was followed by a large loss of $13,434 million in 2020, reflecting the combined negative impacts of the year’s events. In 2021, comprehensive income rebounded to $2,188 million, indicating a partial recovery but remaining below the highs seen before 2020.
Overall, the data shows strong financial performance before 2020, a dramatic downturn during 2020 likely linked to external adverse events, and a noticeable recovery in 2021. The fluctuations in pension and other benefits, as well as other comprehensive income, played a significant role in the volatility of comprehensive income during this period.