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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- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
- Aggregate Accruals
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Devon Energy Corp., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 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).
The financial results exhibit considerable volatility over the analyzed periods, with marked fluctuations in net earnings and comprehensive earnings.
- Net Earnings (Loss)
- The net earnings demonstrate significant variability, starting with a strong positive figure in 2018 at 3,224 million US dollars. This was followed by a sharp decline to losses in 2019 and 2020, amounting to -353 million and -2,671 million US dollars respectively. Subsequently, the company returned to profitability with 2,833 million US dollars in 2021, and further improvement to 6,037 million US dollars in 2022.
- Foreign Currency Translation, Discontinued Operations
- This item shows a negative value in 2018 at -152 million US dollars and a positive 78 million US dollars in 2019, with no further data available for the subsequent years, indicating possibly limited impact on overall results in later periods or discontinued reporting.
- Release of Canadian Cumulative Translation Adjustment, Discontinued Operations
- This adjustment was reported only in 2019, with a significant negative amount of -1,237 million US dollars, suggesting a one-time event impacting the financials that year.
- Pension and Postretirement Plans
- This category shows relatively minor fluctuations compared to net earnings, with positive adjustments in 2018 and 2019 (44 million and 13 million US dollars), a small negative impact in 2020 and 2021, and a positive amount again in 2022 at 16 million US dollars.
- Other Comprehensive Earnings (Loss), Net of Tax
- The other comprehensive income shows a large negative value in 2019 (-1,146 million US dollars), whereas other years display comparatively minor losses or gains, indicating that 2019 was an exceptional year for this category.
- Comprehensive Earnings (Loss)
- The pattern of comprehensive earnings aligns closely with net earnings, showing robust earnings in 2018 (3,116 million US dollars), substantial losses in 2019 and 2020 (-1,499 million and -2,679 million US dollars respectively), and recovery in 2021 and 2022 (2,828 million and 6,053 million US dollars respectively).
- Comprehensive Earnings Attributable to Noncontrolling Interests
- Noncontrolling interests show negative contributions over all years, with values ranging from -160 million in 2018 to -22 million in 2022, suggesting a consistent minor detractor to total comprehensive earnings attributable to the company.
- Comprehensive Earnings (Loss) Attributable to Devon
- Reflecting the overall performance, comprehensive earnings attributable to the company follow the same trend: a strong positive in 2018 (2,956 million US dollars), losses in 2019 and 2020 (-1,501 million and -2,688 million US dollars respectively), and recovery in 2021 and 2022 (2,808 million and 6,031 million US dollars respectively).
Overall, the data reveals a period of financial distress around 2019 and 2020, with losses driven by several factors including translation adjustments and other comprehensive losses. Recovery in subsequent years is notable, suggesting either improved operational performance, favorable market conditions, or both.