Name: GameStop Corp. (NYSE:GME) | Statement of Comprehensive Income
Creator: Stock Analysis on Net

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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GameStop Corp., consolidated statement of comprehensive income

US$ in thousands

12 months ended:	Feb 3, 2024	Jan 28, 2023	Jan 29, 2022	Jan 30, 2021	Feb 1, 2020	Feb 2, 2019
Net income (loss)	6,700)	(313,100)	(381,300)	(215,300)	(470,900)	(673,000)
Foreign currency translation adjustments	(11,600)	(2,300)	(19,400)	29,500)	(24,500)	(63,400)
Reclassification of foreign currency (gain) loss included in net income	(1,000)	—)	—)	—)	—)	(3,100)
Net change in unrealized gain (loss) on available-for-sale securities	(100)	(900)	—)	—)	—)	—)
Reclassification of realized (gain) loss on available-for-sale securities included in net income	1,000)	—)	—)	—)	—)	—)
Other comprehensive income (loss)	(11,700)	(3,200)	(19,400)	29,500)	(24,500)	(66,500)
Comprehensive loss	(5,000)	(316,300)	(400,700)	(185,800)	(495,400)	(739,500)

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 performance over the six-year period ending February 3, 2024, is characterized by a prolonged period of net losses followed by a transition to marginal profitability in the final fiscal year. A general trend of loss reduction is evident, culminating in a significant shift in the bottom-line result during the most recent reporting period.

Net Income Trajectory: A pattern of substantial net losses was observed from 2019 through 2023, with the deepest loss occurring in February 2019 at 673 million US dollars. While losses fluctuated in subsequent years—narrowing to 215.3 million US dollars in 2021 before widening again in 2022 and 2023—the period ended with a reversal of this trend. The fiscal year ending February 3, 2024, marked a pivot to a positive net income of 6.7 million US dollars.
Other Comprehensive Income (OCI) and Foreign Exchange: Other comprehensive income has been volatile, primarily driven by foreign currency translation adjustments. These adjustments resulted in losses in four of the six years analyzed, with the exception of 2021, which saw a gain of 29.5 million US dollars. In the most recent year, OCI recorded a loss of 11.7 million US dollars, influenced by foreign currency translation and a minor net change in unrealized gains on available-for-sale securities.
Comprehensive Loss Analysis: The comprehensive loss closely mirrored the trend of net income, though it was frequently exacerbated by negative OCI. The maximum comprehensive loss was recorded in February 2019 at 739.5 million US dollars. By February 3, 2024, the comprehensive loss narrowed significantly to 5 million US dollars. The convergence of net income and comprehensive loss in the final year indicates that the positive net income was largely offset by losses in other comprehensive income, resulting in a near-break-even comprehensive position.

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