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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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
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FedEx Corp., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2024-05-31), 10-K (reporting date: 2023-05-31), 10-K (reporting date: 2022-05-31), 10-K (reporting date: 2021-05-31), 10-K (reporting date: 2020-05-31), 10-K (reporting date: 2019-05-31).
- Net Income Trend
- Net income displayed significant fluctuations during the period examined. Starting at 540 million US dollars in 2019, there was a notable increase to 1,286 million in 2020. The peak occurred in 2021 with 5,231 million, followed by a decline in 2022 to 3,826 million. In 2023 and 2024, net income rose moderately to 3,972 million and 4,331 million, respectively, suggesting a recovery or stabilization after the peak year.
- Foreign Currency Translation Adjustments
- Foreign currency translation adjustments exhibited volatility and were predominantly negative throughout the years. The values ranged from -195 million in 2019 to a low of -363 million in 2022. An exception occurred in 2021 when the figure reversed to a positive 422 million. The magnitude of the negative impact diminished by 2024 with a value of -60 million, indicating reduced currency translation losses or improved currency management.
- Prior Service Credits
- There was no reported prior service credit until 2024, where a credit of 36 million was recognized. This indicates a one-time or new occurrence impacting the comprehensive income in the most recent period.
- Amortization of Prior Service Credits and Other Items
- The amortization of prior service credits and other items consistently contributed negatively to the income, although the negative impact decreased over time. From -92 million in 2019, the values steadily declined to -8 million in 2024, suggesting reduced amortization expense or adjustments.
- Other Comprehensive Income (Loss)
- Other comprehensive income (loss) closely mirrored foreign currency translation adjustments and amortization trends, resulting predominantly in negative values with occasional positive outcomes. The notable positive spike in 2021 at 415 million was consistent with the foreign currency adjustment trend that year. The negative impact lessened significantly by 2024, reaching -32 million, indicating an overall improvement in comprehensive income components aside from net income.
- Comprehensive Income Dynamics
- Comprehensive income followed the pattern of net income but was moderated by other comprehensive income factors. It grew from 253 million in 2019 to a peak of 5,646 million in 2021, then declined to 3,455 million in 2022. Subsequent years showed recovery trends, with comprehensive income increasing to 3,748 million in 2023 and 4,299 million in 2024. This suggests that despite fluctuations in foreign currency effects and amortization, the overall financial performance remained robust.