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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Estée Lauder Cos. Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Estée Lauder Cos. Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30), 10-K (reporting date: 2018-06-30).
- Net Earnings
- Net earnings exhibited substantial volatility over the reported periods. After increasing from 1,117 million USD in 2018 to a peak of 1,794 million USD in 2019, earnings dropped sharply to 696 million USD in 2020. This was followed by a significant recovery, reaching 2,875 million USD in 2021. In 2022, net earnings declined moderately to 2,408 million USD, then decreased significantly again to 1,010 million USD in 2023.
- Net Unrealized Investment Gain (Loss)
- This item showed minor fluctuations with a small loss of 13 million USD in 2018, a gain of 14 million USD in 2019, and no reported data beyond that. The absence of data from 2020 onwards suggests either a discontinuation or a lack of significant unrealized investment gains or losses.
- Net Cash Flow Hedge Gain (Loss)
- The cash flow hedge results varied over the years, starting with a gain of 40 million USD in 2018, followed by losses in subsequent years: -18 million USD (2019), -7 million USD (2020), -16 million USD (2021). A positive gain of 70 million USD occurred in 2022, followed by a moderate loss of -4 million USD in 2023. This indicates variability in hedge effectiveness or market conditions influencing hedging activities.
- Cross-Currency Swap Contract Loss
- This item was only reported in 2023, showing a loss of 20 million USD, representing a new or previously unreported cost relating to currency swap contracts during that period.
- Retirement Plan and Other Retiree Benefit Adjustments
- Retirement plan adjustments fluctuated significantly, with a positive adjustment of 73 million USD in 2018, a negative adjustment of -80 million USD in 2019, a small positive 11 million USD in 2020, an increase to 65 million USD in both 2021 and 2022, followed by a negative adjustment of -62 million USD in 2023. These fluctuations may reflect changes in actuarial assumptions, market conditions, or plan amendments.
- Translation Adjustments
- Translation adjustments demonstrated considerable variability, generally reflecting currency translation effects. Negative adjustments were observed in 2018 (-18 million USD), 2019 (-45 million USD), 2020 (-106 million USD), 2022 (-456 million USD), and 2023 (-100 million USD). A notable positive adjustment appeared in 2021 with 130 million USD. The large negative value in 2022 is particularly pronounced, suggesting significant adverse currency movements impacting reported results.
- Other Comprehensive Income (Loss), Net of Tax
- This item correlated with translation and other comprehensive adjustments, showing gains in 2018 (82 million USD) and 2021 (179 million USD), but losses in other years: -129 million USD (2019), -102 million USD (2020), -321 million USD (2022), and -186 million USD (2023). The overall trend indicates periods of income and loss aligned with market and currency fluctuations.
- Comprehensive Income
- Comprehensive income generally followed the pattern of net earnings but with added volatility due to other comprehensive income components. It rose from 1,199 million USD in 2018 to 1,665 million USD in 2019, declined to 594 million USD in 2020, peaked at 3,054 million USD in 2021, then dropped to 2,087 million USD in 2022 and further to 824 million USD in 2023. The peak in 2021 highlights a strong recovery complemented by favorable comprehensive income factors.
- Comprehensive (Income) Loss Attributable to Noncontrolling Interests and Redeemable Noncontrolling Interest
- This component remained relatively stable, with minor negative amounts in early years (-9 million USD in 2018 and 2019, -12 million USD in 2020) shifting to positive values from 2021 through 2023, indicating slight changes in the share of comprehensive income attributable to noncontrolling interests.
- Comprehensive Income Attributable to The Estée Lauder Companies Inc.
- The comprehensive income attributable to the company closely tracked the total comprehensive income, moving from 1,190 million USD in 2018 to a high of 3,065 million USD in 2021, before decreasing to 2,098 million USD in 2022 and 834 million USD in 2023. The data reflects the company's fluctuating financial performance with significant influence from other comprehensive income components.