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Statement of Comprehensive Income
Difficulty: Beginner
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.
General Mills Inc., Consolidated Statement of Comprehensive Income
USD $ in thousands
| 12 months ended | May 27, 2018 | May 28, 2017 | May 29, 2016 | May 31, 2015 | May 25, 2014 | May 26, 2013 | |||||||
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| Net earnings, including earnings attributable to redeemable and noncontrolling interests | |
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| Foreign currency translation | |
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| Net actuarial income (loss) | |
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| Other fair value changes, securities | |
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| Other fair value changes, hedge derivatives | |
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| Reclassification to earnings, securities | |
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| Reclassification to earnings, hedge derivatives | |
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| Reclassification to earnings, amortization of losses and prior service costs | |
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| Other comprehensive income (loss), net of tax | |
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| Comprehensive income | |
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| Comprehensive (income) loss attributable to redeemable and noncontrolling interests | |
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| Comprehensive income attributable to General Mills | |
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| Item | Description | The company |
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| Foreign currency translation | Adjustment that results from the process of translating subsidiary financial statements and foreign equity investments into functional currency of the reporting entity, net of tax, attributable to the parent entity. | General Mills Inc.'s foreign currency translation increased from 2016 to 2017 but then slightly declined from 2017 to 2018. |
| Net actuarial income (loss) | Net changes to accumulated comprehensive income during the period related to benefit plans, after tax, attributable to the parent entity. | General Mills Inc.'s net actuarial income (loss) increased from 2016 to 2017 but then slightly declined from 2017 to 2018. |
| Other fair value changes, securities | Appreciation or loss in value (before reclassification adjustment) of the total of unsold securities during the period being reported on, net of tax. Reclassification adjustments include: (1) the unrealized holding gain (loss), net of tax, at the date of the transfer for a debt security from the held-to-maturity category transferred into the available-for-sale category. Also includes the unrealized gain (loss) at the date of transfer for a debt security from the available-for-sale category transferred into the held-to-maturity category; (2) the unrealized gains (losses) realized upon the sale of securities, after tax; and (3) the unrealized gains (losses) realized upon the write-down of securities, after tax. | General Mills Inc.'s other fair value changes, securities increased from 2016 to 2017 and from 2017 to 2018. |
| Other fair value changes, hedge derivatives | Net of tax effect change in accumulated gains and losses from derivative instruments designated and qualifying as the effective portion of cash flow hedges, after taxes, that is attributable to the parent entity. A cash flow hedge is a hedge of the exposure to variability in the cash flows of a recognized asset or liability or a forecasted transaction that is attributable to a particular risk. The change includes an entity's share of an equity investee's increase (decrease) in deferred hedging gains or losses. | General Mills Inc.'s other fair value changes, hedge derivatives increased from 2016 to 2017 but then declined significantly from 2017 to 2018. |
| Reclassification to earnings, securities | Reclassification adjustment for unrealized gains or losses realized upon the sale of securities, after tax. | |
| Comprehensive income attributable to General Mills | The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. | General Mills Inc.'s comprehensive income attributable to General Mills increased from 2016 to 2017 and from 2017 to 2018. |
