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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Halliburton Co., consolidated statement of comprehensive income
US$ in millions
Based on: 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), 10-K (reporting date: 2014-12-31).
The financial data reveals significant fluctuations in various income-related metrics over the five-year period from 2014 to 2018. The net income (loss) experienced a pronounced decline from a positive $3,501 million in 2014 to negative values in 2015, 2016, and 2017, with the lowest point in 2016 at a loss of $5,769 million. A recovery is observed in 2018, where net income returned to a positive $1,657 million.
Adjustments related to defined benefit and other post-retirement plans fluctuated during the period, starting with a negative adjustment of $84 million in 2014, then shifting to positive $105 million in 2015, followed by negative values in 2016 and 2017, and finally a positive $131 million in 2018. This indicates variability in benefit plan costs and actuarial assumptions impacting financial performance.
The unrealized gain (loss) on cash flow hedges was only reported in 2015 as a $67 million loss, with no other data available for the other years, suggesting limited or sporadic use of such hedging instruments or their impact during the period.
Other comprehensive income (loss), net of income taxes, mirrored the pattern of the defined benefit adjustment, with negative values in 2014, 2016, and 2017, and positive figures in 2015 and 2018. This variability contributed to the overall comprehensive income trends.
Overall comprehensive income (loss) followed the net income trend closely, showing a sharp decline from a positive $3,410 million in 2014 to negative $5,860 million in 2016, before a gradual recovery to a positive $1,771 million in 2018. The comprehensive income attributable to company shareholders exhibits the same pattern, indicating that the majority of the comprehensive income or loss pertains to the company's shareholders.
Comprehensive income (loss) attributable to noncontrolling interests remained relatively minimal and fluctuated between small positive and negative values, suggesting minor impact of noncontrolling interests on overall comprehensive income.
- Summary of Trends:
- The data reveals a period of significant financial difficulty in 2015 through 2017, marked by substantial net losses and negative comprehensive income. This was followed by a notable recovery in 2018. Adjustments related to employee benefit plans and other comprehensive income elements contributed to fluctuations but were not the primary drivers of the net income volatility. Careful monitoring of volatility in benefit plan adjustments and hedging outcomes is advisable, although their impact appears secondary compared to the broader earnings performance.