Stock Analysis on Net

EMC Corp. (NYSE:EMC)

$22.49

This company has been moved to the archive! The financial data has not been updated since August 8, 2016.

Statement of Comprehensive Income

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EMC Corp., consolidated statement of comprehensive income

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Net income
Foreign currency translation adjustments
Net change in market value of investments
Net change in the market value of derivatives
Net change in actuarial gain (loss) from pension and other postretirement plans
Other comprehensive income (loss), net of taxes
Comprehensive income
Net income attributable to the non-controlling interests
Other comprehensive (income) loss attributable to the non-controlling interests
Comprehensive income attributable to EMC Corporation

Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).


The financial data over the five-year period reveals distinct trends in key income measures and comprehensive income components.

Net Income
Net income showed an initial growth trend from US$2,609 million in 2011 to a peak of US$3,093 million in 2013. However, this upward momentum reversed in subsequent years, declining to US$2,172 million by the end of 2015, marking a significant decrease compared to the 2013 peak.
Foreign Currency Translation Adjustments
This component exhibited volatility and a generally downward trend, moving from a minor loss of US$4 million in 2011 to increasingly larger losses, reaching US$169 million by 2015. This pattern indicates growing adverse effects from currency exchange impacts on the company’s financials during this period.
Net Change in Market Value of Investments
The values fluctuated considerably, with gains and losses alternating year-to-year. The highest positive adjustment occurred in 2012 with US$48 million, followed by a decline to a loss of US$59 million in 2015. This variability suggests exposure to market risks affecting investment valuations.
Net Change in Market Value of Derivatives
This component improved over time, starting with a significant loss of US$95 million in 2011 and shifting to modest gains by 2015. The trend suggests enhanced risk management or favorable market conditions affecting derivative positions.
Net Change in Actuarial Gain (Loss) from Pension and Other Postretirement Plans
There was fluctuation with no clear directional trend: negative impacts occurred in 2011, 2012, and 2014, while improvements were recorded in 2013 and 2015. The variations point to changing assumptions or experience relating to pension obligations over the years.
Other Comprehensive Income (Loss), Net of Taxes
Other comprehensive income (OCI) displayed a generally negative pattern, with losses increasing significantly in 2014 and 2015 to US$127 million and US$217 million, respectively. The data suggest growing pressures from components outside of net income, affecting total comprehensive results negatively.
Comprehensive Income
Reflecting the combination of net income and other comprehensive income, comprehensive income rose initially, peaking in 2012 and 2013, and then decreased steadily through 2015. This decline aligns with worsening foreign currency adjustments and OCI losses despite some offsetting factors.
Net Income Attributable to Non-controlling Interests
Non-controlling interests consistently reflected a net expense (negative values), increasing in absolute magnitude from US$148 million in 2011 to US$204 million in 2013 before slightly declining again. The fluctuations indicate variable profitability in subsidiaries where EMC holds minority interests.
Other Comprehensive (Income) Loss Attributable to Non-controlling Interests
Data is sparse but shows minimal and inconsistent amounts, suggesting this factor plays a relatively minor role in overall comprehensive income attributable to non-controlling interests.
Comprehensive Income Attributable to EMC Corporation
The comprehensive income attributable to EMC Corporation mirrors the general trend in overall comprehensive income, with growth peaking in 2013 and decreasing thereafter. The drop from US$2,858 million in 2013 to US$1,777 million in 2015 illustrates a notable contraction in comprehensive profitability retained by the company.

In summary, the data reflect an initial period of income growth followed by a downturn, compounded by increasingly adverse foreign currency translation impacts and negative other comprehensive income effects. Despite improvements in derivative valuations, the overall comprehensive income declined substantially by the end of the period studied. The performance attributable to non-controlling interests shows some variability but remains a consistent factor in the financial results.