Name: IQVIA Holdings Inc. (NYSE:IQV) | 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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IQVIA Holdings Inc., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net income	1,091)	971)	308)	227)	284)
Unrealized gains (losses) on derivative instruments, net of income tax	40)	9)	(30)	(15)	1)
Defined benefit plan adjustments, net of income tax	(10)	69)	(54)	(30)	(8)
Foreign currency translation, net of income tax	(361)	(281)	183)	(39)	(258)
Comprehensive income (loss) adjustments	(331)	(203)	99)	(84)	(265)
Reclassifications on derivative instruments included in net income, net of income tax	10)	12)	10)	(1)	(12)
Amortization of actuarial losses and prior service costs included in net income	—)	—)	—)	—)	1)
Reclassification adjustments	10)	12)	10)	(1)	(11)
Other comprehensive income (loss)	(321)	(191)	109)	(85)	(276)
Comprehensive income	770)	780)	417)	142)	8)
Comprehensive income attributable to non-controlling interests	—)	(5)	(32)	(38)	(22)
Comprehensive income (loss) attributable to IQVIA Holdings Inc.	770)	775)	385)	104)	(14)

Based on: 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), 10-K (reporting date: 2018-12-31).

An analysis of the statement of comprehensive income reveals a strong upward trajectory in core profitability, although total comprehensive results are subject to significant volatility driven primarily by macroeconomic factors.

Net Income Performance: Net income demonstrated stability between 2018 and 2020, fluctuating within a range of 227 million to 308 million US$. A significant acceleration in earnings began in 2021, with net income rising to 971 million US$, and continuing into 2022 to reach 1,091 million US$. This trend indicates a substantial increase in the company's primary earning capacity over the observed period.
Other Comprehensive Income (OCI) Volatility: Other comprehensive income exhibits marked instability, characterized by alternating gains and losses. A positive peak was reached in 2020 with a gain of 109 million US$, which was subsequently offset by losses of 191 million US$ in 2021 and 321 million US$ in 2022. These swings suggest that non-operational factors have a material impact on the total equity of the organization.
Foreign Currency Translation Impact: The volatility in OCI is predominantly driven by foreign currency translation adjustments. Significant losses were recorded in 2018 (-258 million US$) and intensified in 2021 (-281 million US$) and 2022 (-361 million US$). A brief reversal occurred in 2020 with a gain of 183 million US$. This pattern underscores a high sensitivity to exchange rate fluctuations across international operations.
Comprehensive Income Trends: Total comprehensive income attributable to IQVIA Holdings Inc. improved from a loss of 14 million US$ in 2018 to 770 million US$ in 2022. The most aggressive growth occurred between 2019 and 2021, when the figure rose from 104 million US$ to 775 million US$. The marginal decline between 2021 and 2022 indicates that the increase in net income was almost entirely offset by widening losses in foreign currency translation.
Derivative and Actuarial Adjustments: Unrealized gains on derivative instruments showed a recovery trend, moving from losses of 30 million US$ in 2020 to a gain of 40 million US$ in 2022. Defined benefit plan adjustments remained erratic, fluctuating from a low of -54 million US$ in 2020 to a high of 69 million US$ in 2021, before returning to a loss of 10 million US$ in 2022.

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