Name: Hilton Worldwide Holdings Inc. (NYSE:HLT) | 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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Hilton Worldwide Holdings Inc., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income (loss)	1,151)	1,257)	407)	(720)	886)
Currency translation adjustment, net of tax	8)	(8)	(29)	38)	(4)
Pension liability adjustment, net of tax	(3)	(49)	80)	(20)	(9)
Cash flow hedge adjustment, net of tax	(31)	130)	31)	(38)	(45)
Other comprehensive income (loss), net of tax	(26)	73)	82)	(20)	(58)
Comprehensive income (loss)	1,125)	1,330)	489)	(740)	828)
Comprehensive (income) loss attributable to noncontrolling interests	(9)	(2)	2)	5)	(5)
Comprehensive income (loss) attributable to Hilton stockholders	1,116)	1,328)	491)	(735)	823)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

The financial performance from 2019 to 2023 is characterized by a significant volatility cycle, marked by a severe contraction in 2020 followed by a robust recovery and subsequent stabilization. Net income experienced a sharp decline from 886 million US dollars in 2019 to a loss of 720 million US dollars in 2020, before rebounding to 407 million US dollars in 2021 and peaking at 1,257 million US dollars in 2022. A slight moderation occurred in 2023, with net income settling at 1,151 million US dollars.

Comprehensive Income Trends: Comprehensive income closely mirrored the trajectory of net income, exhibiting a deep trough in 2020 at negative 740 million US dollars. The recovery phase culminated in 2022 with a peak of 1,330 million US dollars, representing a substantial increase over pre-2020 levels. By 2023, comprehensive income decreased to 1,125 million US dollars, indicating a plateauing of the recovery growth.
Other Comprehensive Income (OCI) Volatility: OCI demonstrated inconsistent patterns, alternating between net losses and gains. Negative values were recorded in 2019, 2020, and 2023, while 2021 and 2022 saw positive contributions of 82 million and 73 million US dollars, respectively. This volatility was primarily driven by fluctuations in cash flow hedge adjustments and pension liability adjustments.
Analysis of OCI Components: Cash flow hedge adjustments showed the most significant variance, peaking at 130 million US dollars in 2022 before reversing to a loss of 31 million US dollars in 2023. Pension liability adjustments were highly unstable, shifting from a gain of 80 million US dollars in 2021 to a loss of 49 million US dollars in 2022. Currency translation adjustments remained relatively muted in comparison, fluctuating within a narrow range between negative 29 million and 38 million US dollars.
Stockholder Attribution: The vast majority of comprehensive income is attributable to Hilton stockholders, with noncontrolling interests having a negligible impact on the overall results. Comprehensive income attributable to stockholders rose from 491 million US dollars in 2021 to 1,328 million US dollars in 2022, ending the period at 1,116 million US dollars in 2023.

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