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: Assets
- Common-Size Balance Sheet: Assets
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Aggregate Accruals
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General Dynamics Corp., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
- Net Earnings
- Net earnings demonstrated a relatively stable trend from 2015 through 2017, fluctuating marginally between 2,912 million and 2,965 million US dollars. In 2018 and 2019, a notable upward trend was observed, with net earnings increasing to 3,345 million and then to 3,484 million US dollars, indicating improved profitability in the latter years.
- Gains (Losses) on Cash Flow Hedges
- The gains and losses on cash flow hedges showed considerable variation over the period. Starting with a significant loss of 314 million US dollars in 2015, the financial impact reversed in subsequent years, peaking at a gain of 251 million in 2017 before moderating to smaller gains of 27 million and 73 million in 2018 and 2019, respectively, reflecting fluctuating hedging effectiveness.
- Unrealized Gains (Losses) on Marketable Securities
- This item displayed a minor fluctuating pattern with slight losses of 2 and 6 million US dollars in 2015 and 2016, turning into a modest gain of 5 million in 2017. No data was reported for 2018 and 2019, limiting trend analysis for the latter years.
- Foreign Currency Translation Adjustments
- Foreign currency translation adjustments exhibited substantial volatility. The adjustments began with sizeable negative values in 2015 (-363 million) and 2016 (-118 million), shifted dramatically to a positive value of 333 million in 2017, and then reverted to negative 300 million in 2018 before rising to a positive 186 million in 2019. This pattern indicates fluctuations in the value of foreign operations relative to the reporting currency.
- Change in Retirement Plans’ Funded Status
- The funded status of retirement plans experienced a declining trend over the period. Beginning with a positive change of 325 million US dollars in 2015, it moved into negative territory in the following years, progressively deteriorating to a notable loss of 700 million in 2019, signaling increasing obligations or decreased plan assets.
- Other Comprehensive Income (Loss), Net of Tax
- Other comprehensive income showed significant variability, correlating with the fluctuations in foreign currency adjustments and retirement plan changes. It moved from a substantial loss of 354 million in 2015 to a reduced loss of 110 million in 2016, then switched to a considerable gain of 567 million in 2017, before dropping into losses of 320 million and 441 million in 2018 and 2019, respectively.
- Comprehensive Income
- Comprehensive income generally reflected the interplay of net earnings and other comprehensive components. It increased from 2,611 million US dollars in 2015 to a peak of 3,479 million in 2017, then declined in 2018 to 3,025 million, and stabilized around 3,043 million in 2019, demonstrating comparatively stable overall profitability when accounting for all comprehensive income factors.