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.
HCA Healthcare Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 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), 10-K (reporting date: 2017-12-31).
The data presents a detailed overview of key financial items over the five-year period from 2017 to 2021, revealing several notable trends and fluctuations.
- Net Income
- Net income demonstrated a strong upward trajectory, increasing significantly from $2,743 million in 2017 to $7,721 million in 2021. There was a notable jump between 2017 and 2018, reaching $4,389 million, followed by a slight decline in 2019 to $4,145 million, and then moderate recovery in 2020 to $4,387 million. The most substantial increase occurred in 2021, nearly doubling the net income from the previous year.
- Foreign Currency Translation
- Foreign currency translation effects fluctuated over the period without a clear trend, beginning positive at $62 million in 2017, turning negative to -$63 million in 2018, then data is missing for 2019, followed by a small positive value of $12 million in 2020 and again negative at -$7 million in 2021. These variations suggest exposure to currency exchange rate effects impacting the results unevenly across years.
- Unrealized Gains (Losses) on Available-for-Sale Securities
- This item showed volatility, with minor positive and negative values alternating across years: $1 million gain in 2017, $-5 million loss in 2018, an increase to $11 million in both 2019 and 2020, then a decline to -$13 million in 2021. This pattern indicates changing market conditions affecting the valuation of available-for-sale securities.
- Realized Gains Included in Other Operating Expenses
- There was a $-1 million value only reported in 2017, with no values reported afterwards. This suggests minimal impact or absence of realized gains in subsequent years based on the available data.
- Defined Benefit Plans
- Values related to defined benefit plans displayed considerable variability. In 2017, the amounts were negative (-$33 million, -$22 million), then positive in 2018 (up to $50 million), followed by negative amounts again in 2019 and 2020. In 2021, the value rose sharply to a positive $67 million and $88 million for two separate entries. This fluctuation indicates changes in the valuation or funding status of pension obligations over time.
- Pension Costs Included in Salaries and Benefits
- Pension costs remained relatively stable, with minor fluctuations between $10 million and $22 million from 2017 to 2021, reflecting consistent expense recognition related to defined benefit plans.
- Change in Fair Value of Derivative Financial Instruments
- The values for derivative financial instruments saw high volatility. The amounts ranged from positive values in 2017 and 2018 (as high as $20 million) to large negative swings in 2019 and 2020 (down to -$51 million). In 2021, there was a rebound to positive values, reaching $30 million. This suggests significant impact from market movements on derivatives used by the company with fluctuating gains and losses.
- Interest Costs (Benefits) Included in Interest Expense
- Interest costs exhibited a mixed pattern, negative in 2018 and 2019 (-$8 million and -$14 million respectively), but shifting positive to $19 million in 2020 and increasing further to $29 million in 2021. This indicates changes in interest rate environment or debt structure affecting interest expense.
- Other Comprehensive Income (Loss)
- This component was positive initially in 2017 ($60 million), but subsequently turned negative in 2018 (-$8 million), deteriorated further in 2019 and 2020 (-$79 million and -$42 million), and then improved sharply to a positive $98 million in 2021. The gains in 2021 suggest an improved overall comprehensive income scenario, potentially due to gains in some other components such as foreign currency translation or securities valuation.
- Comprehensive Income
- Comprehensive income followed the trends in net income closely, increasing from $2,803 million in 2017 to $7,819 million in 2021. The figures peaked in 2018 ($4,381 million) then declined slightly before rising steeply in 2021. This reflects the combined impact of net income and other comprehensive income components.
- Comprehensive Income Attributable to Noncontrolling Interests
- The comprehensive income attributable to noncontrolling interests was consistently negative across all years, ranging from -$527 million in 2017 to -$765 million in 2021. The magnitude of loss attributable to noncontrolling interests increased over time, reflecting a growing share of losses or reductions in subsidiary earnings attributable to minority interests.
- Comprehensive Income Attributable to HCA Healthcare, Inc.
- Comprehensive income attributable to the parent company exhibited similar trends to overall comprehensive income, rising from $2,276 million in 2017 to $7,054 million in 2021. Despite some fluctuations between 2018 and 2020, the increase in 2021 was particularly pronounced, indicating strong earnings performance net of noncontrolling interests.