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.
Exxon Mobil Corp., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Net Income (Loss) including Noncontrolling Interests
- The company exhibited a notable recovery in net income after a significant loss in 2020. The net loss of $23,251 million in 2020 reversed sharply to a profit of $23,598 million in 2021, followed by continued growth to $57,577 million in 2022. However, net income decreased to $37,354 million in 2023 and further declined slightly to $35,063 million in 2024, indicating a peak in profitability in 2022 with a downward trend thereafter.
- Foreign Exchange Translation Adjustment
- Foreign exchange translation adjustments were positive in 2020 ($1,916 million), turned negative in 2021 and 2022 (with losses of $872 million and $3,482 million respectively), rebounded to a positive adjustment of $1,241 million in 2023, but moved back into negative territory (-$3,550 million) in 2024. This suggests volatility in currency effects on the company’s financials with no consistent directional trend.
- Adjustment for Foreign Exchange Translation Gain (Loss) Included in Net Income
- Some fluctuation is evident in adjustments related to foreign exchange translation gain or loss, with a small gain of $14 million in 2020, a slight loss of $2 million in 2021, absence of data for 2022, and a significant gain of $609 million in 2023. No data is recorded for 2024, implying inconsistent or irregular impacts in this category.
- Postretirement Benefits Reserves Adjustment, Excluding Amortization
- This item showed a pronounced increase from a low base of $30 million in 2020 to $3,118 million in 2021, followed by a smaller gain in 2022 ($3,395 million). However, it sharply reversed to a negative adjustment of $369 million in 2023, with a modest positive adjustment of $557 million in 2024. This pattern indicates significant fluctuations in postretirement reserves adjustments over the years.
- Amortization and Settlement of Postretirement Benefits Reserves Adjustment Included in Net Periodic Benefit Costs
- Amortization and settlement costs remained relatively stable between 2020 and 2021, at $896 million and $925 million respectively, then steadily decreased over the subsequent years to $403 million in 2022, $61 million in 2023, and $43 million in 2024, reflecting a declining trend in these charges.
- Other Comprehensive Income (Loss), Net of Income Taxes
- Other comprehensive income showed a general decline from $2,856 million in 2020 and $3,169 million in 2021 to a substantially lower $316 million in 2022. It experienced some recovery in 2023 to $1,542 million before turning negative at -$2,950 million in 2024, indicating increased volatility and a downward pressure in other comprehensive income in recent periods.
- Comprehensive Income (Loss) Including Noncontrolling Interests
- Comprehensive income improved significantly from a loss of $20,395 million in 2020 to a gain of $26,767 million in 2021, reaching a peak of $57,893 million in 2022 before declining to $38,896 million in 2023 and $32,113 million in 2024. This pattern mirrors the net income trend with peak performance in 2022 followed by a softening in subsequent years.
- Comprehensive (Income) Loss Attributable to Noncontrolling Interests
- Amounts attributable to noncontrolling interests swung from a positive $743 million in 2020 to negative values starting 2021 (-$786 million), deepening losses in 2022 (-$1,659 million) and somewhat stabilizing but remaining negative in 2023 (-$1,605 million) and 2024 (-$1,063 million). This reflects a reduction in income contribution from noncontrolling interests over the period.
- Comprehensive Income (Loss) Attributable to ExxonMobil
- The portion attributable to the company followed the overall comprehensive income trend closely, moving from a loss of $19,652 million in 2020 to gains of $25,981 million in 2021 and $56,234 million in 2022, then declining to $37,291 million in 2023 and $31,050 million in 2024. The data indicates improvement post-2020 but a gradual decrease in comprehensive income after the peak year.