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: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Return on Equity (ROE) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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Fidelity National Information Services Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 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).
The financial data reveals significant fluctuations in the company's earnings over the five-year period under review. Net earnings show a notable decline, starting with a strong positive figure in 2018, then decreasing sharply in 2019 and 2020, experiencing a rebound in 2021, before plunging to a substantial negative value in 2022. This indicates considerable volatility and potential challenges in maintaining profitability during these years.
Foreign currency translation adjustments demonstrate considerable variability, with negative values in 2018, 2021, and 2022, contrasted by strong positive adjustments in 2019 and 2020. This volatility in foreign currency effects may reflect exposure to international markets and fluctuating exchange rates impacting the company's earnings quality.
The change in fair value of net investment hedges shows inconsistency, with missing data in 2018, a moderate positive change in 2019, a significant negative adjustment in 2020, followed by considerable positive reversals in 2021 and 2022. This pattern suggests active use of hedging instruments to manage investment risks, resulting in variable impacts on comprehensive income.
Other adjustments have remained relatively minor throughout the period, fluctuating modestly between small positive and negative amounts, indicating limited impact on overall earnings.
Other comprehensive earnings (loss), net of tax, generally follow the trend of foreign currency translation adjustments and investment hedge changes, with positive values in 2019 through 2021 and negative values in 2018 and sharply increasing negative in 2022. This component contributes to the volatility in total comprehensive earnings.
Comprehensive earnings mirror the overall trend observed in net earnings, displaying positive results from 2018 to 2021 with yearly fluctuations, followed by a significant negative swing in 2022. This sharp decline in comprehensive earnings in the final year analyzed points to substantial adverse impacts beyond net income alone, including foreign currency and hedge-related effects.
Comprehensive earnings attributable to noncontrolling interest are consistently negative but relatively small in magnitude compared to total comprehensive earnings, showing minor fluctuations without a clear trend. This suggests limited influence of noncontrolling interests on total comprehensive results.
Comprehensive earnings attributable to common stockholders closely track the overall comprehensive earnings pattern, confirming that the primary stakeholders face the consequences of the earnings volatility and negative outcomes, especially the significant downturn in 2022.
- Summary of Observed Trends:
- The company experienced marked volatility in net and comprehensive earnings over the five-year period, with a troubling and pronounced loss in 2022.
- Foreign currency translation and hedge-related adjustments contributed notably to earnings variability, indicating sensitivity to international market conditions and investment risk management strategies.
- Minor components such as other adjustments and changes attributable to noncontrolling interests had limited impact on the overall earnings trends.
- The sizeable comprehensive loss in 2022 signals potential operational or financial difficulties that affected multiple aspects of the company's financial performance beyond core earnings.