Name: Ecolab Inc. (NYSE:ECL) | 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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Ecolab Inc., consolidated statement of comprehensive income

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net income (loss) attributable to Ecolab, including noncontrolling interest	1,144,000)	(1,185,500)	1,576,200)	1,440,300)	1,522,400)
Foreign currency translation	(10,900)	50,000)	(45,100)	(223,300)	209,100)
Separation of ChampionX	—)	229,900)	—)	—)	—)
Gain (loss) on net investment hedges	51,600)	(87,700)	31,400)	57,500)	(109,700)
Foreign currency translation adjustments	40,700)	192,200)	(13,700)	(165,800)	99,400)
Derivatives and hedging instruments	26,000)	(17,000)	(3,400)	28,400)	(17,900)
Current period net actuarial gain (loss)	204,800)	(139,200)	(251,100)	(37,800)	(33,400)
Settlement charge	26,700)	—)	—)	—)	—)
Pension and postretirement prior period service benefits	1,900)	5,100)	(300)	(2,300)	(500)
Amortization of net actuarial loss and prior period service credits, net	56,300)	56,000)	(200)	13,200)	24,700)
Postretirement benefits changes	—)	—)	—)	44,900)	—)
Pension and postretirement benefits	289,700)	(78,100)	(251,600)	18,000)	(9,200)
Other comprehensive income (loss), net of tax	356,400)	97,100)	(268,700)	(119,400)	72,300)
Comprehensive income (loss), including noncontrolling interest	1,500,400)	(1,088,400)	1,307,500)	1,320,900)	1,594,700)
Comprehensive income attributable to noncontrolling interest	(10,900)	(21,400)	(15,400)	(10,100)	(15,700)
Comprehensive income (loss) attributable to Ecolab	1,489,500)	(1,109,800)	1,292,100)	1,310,800)	1,579,000)

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 company's financial trajectory from 2017 to 2021 is characterized by a period of relative stability followed by a severe contraction in 2020 and a subsequent recovery in 2021. Comprehensive income attributable to the company mirrored this volatility, experiencing a significant decline during the 2020 fiscal year before returning to levels near its 2017 peak.

Net Income and Comprehensive Income Performance: Net income remained relatively stable between 2017 and 2019, fluctuating between US$1.44 billion and US$1.58 billion. A sharp reversal occurred in 2020, with the company recording a net loss of US$1.19 billion. Recovery was evident in 2021, as net income returned to a positive US$1.14 billion. Comprehensive income attributable to the company followed a similar pattern, dropping from US$1.29 billion in 2019 to a loss of US$1.11 billion in 2020, before rebounding to US$1.49 billion in 2021.
Volatility in Other Comprehensive Income (OCI): Other comprehensive income exhibited extreme variance over the five-year period, shifting from a gain of US$72.3 million in 2017 to a peak loss of US$268.7 million in 2019, and eventually reaching a peak gain of US$356.4 million in 2021. This volatility was primarily driven by fluctuations in foreign currency translations and pension-related adjustments.
Foreign Currency and Hedging Impacts: Foreign currency translation adjustments showed inconsistent trends, with significant losses in 2018 (US$165.8 million) and 2019 (US$13.7 million) being offset by a gain of US$192.2 million in 2020. Gains or losses on net investment hedges also fluctuated, ending the period with a gain of US$51.6 million in 2021.
Pension and Postretirement Benefit Adjustments: Pension and postretirement benefits contributed substantially to OCI volatility. A significant loss of US$251.6 million was observed in 2019, largely driven by a net actuarial loss of US$251.1 million. This trend reversed sharply in 2021, which saw a total gain of US$289.7 million, including a net actuarial gain of US$204.8 million and a settlement charge of US$26.7 million.
Significant Non-Recurring Events: The 2020 fiscal year included a specific positive impact from the separation of ChampionX, which contributed US$229.9 million to the comprehensive income, partially mitigating the impact of the net loss reported in that period.

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