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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- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2006
- Price to Earnings (P/E) since 2006
- Price to Operating Profit (P/OP) since 2006
- Aggregate Accruals
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GameStop Corp., consolidated statement of comprehensive income
US$ in thousands
Based on: 10-K (reporting date: 2024-02-03), 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02).
The financial data reveal significant fluctuations in net income (loss) over the analyzed periods. Initially, the net loss reduces from a peak loss of 673 million USD in early 2019 to 215 million USD by early 2021, indicating an improving trend. However, starting in early 2022, net losses increase again up to 381 million USD, then slightly improve to 313 million USD in early 2023. By early 2024, net income turns positive with a modest gain of 6.7 million USD, marking a critical turning point in profitability.
Foreign currency translation adjustments display volatility throughout the periods. The adjustments start at a negative 63.4 million USD in 2019, improve to less negative 24.5 million USD in 2020, and then turn positive to 29.5 million USD in 2021. Following that peak, the adjustments revert back into negative territory, decreasing to negative 19.4 million USD in 2022, with smaller negative values in subsequent years, registering negative 2.3 million USD in 2023 and negative 11.6 million USD in 2024.
Items related to reclassification of foreign currency gains and losses show sporadic occurrence. Notably, a 3.1 million USD negative reclassification entry occurs in 2019, with minor related activity in 2024. The unrealized gains or losses on available-for-sale securities appear only in the last two periods, with small negative impacts recorded, while a realized gain reclassification is observed only in the latest period, contributing a positive 1 million USD.
Other comprehensive income (loss), which aggregates such items, mirrors the currency translation adjustment pattern with peaks and troughs. It is strongly negative in 2019, improves to a positive 29.5 million USD in 2021, then declines again in subsequent years, stabilizing at moderate negative values near 3 to 12 million USD in the most recent years.
The comprehensive loss, encompassing net income changes and other comprehensive income (loss), follows the large swings seen in net income but generally remains negative throughout most periods. It improves from a very large loss of 739.5 million USD in 2019 to a much smaller loss of 185.8 million USD in 2021, yet increases loss levels again in 2022 and 2023. By 2024, the comprehensive loss narrows significantly to just 5 million USD, reflecting the net income recovery and stabilization of other comprehensive items.
- Summary of key trends:
- - Net income shows a trend from deep losses towards breakeven and slight profitability by early 2024.
- - Foreign currency translation adjustments and other comprehensive income reflect volatility, with some recovery periods but an overall negative bias recently.
- - Limited but positive impact from securities reclassification gains appears in the latest periods.
- - Comprehensive loss closely tracks net income improvements, ending near neutral in the latest period.