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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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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International Business Machines Corp., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The statement of comprehensive income reveals significant fluctuations across the five-year period. Net income demonstrates considerable volatility, beginning at US$5,762 million in 2021, declining sharply to US$1,659 million in 2022, then increasing to US$7,518 million in 2023, followed by a decrease to US$6,040 million in 2024, and culminating in a substantial rise to US$10,619 million in 2025. This pattern suggests sensitivity to underlying business conditions or strategic shifts.
- Foreign Currency Translation Adjustments
- Foreign currency translation adjustments exhibit substantial variability, starting with a positive impact of US$573 million in 2021, followed by a negative impact of US$229 million in 2022, a smaller positive impact of US$103 million in 2023, a slight negative impact of US$23 million in 2024, and a significant negative impact of US$445 million in 2025. This indicates increasing exposure to, and potential adverse effects from, fluctuations in foreign exchange rates.
- Unrealized Gains and Losses
- Unrealized gains and losses show inconsistent patterns. While initially minimal, unrealized gains on cash flow hedges were negative in 2022 and 2025, reaching US$394 million in losses in 2025. Gains from unrealized gains arising during the period were positive in 2023 and 2024, but negative in 2025. Reclassification of gains and losses to net income also fluctuated, with a significant negative reclassification in 2022 and 2025.
- Retirement-Related Benefit Plans
- Retirement-related benefit plans demonstrate significant swings. A substantial positive impact of US$3,828 million was observed in 2021, followed by US$6,841 million in 2022, then a large negative impact of US$2,152 million in 2023, a positive impact of US$3,171 million in 2024, and a smaller positive impact of US$395 million in 2025. These fluctuations likely reflect changes in actuarial assumptions, plan amendments, or market conditions affecting pension obligations.
- Other Comprehensive Income
- Other comprehensive income mirrors the volatility seen in its components, starting at US$4,839 million in 2021, peaking at US$6,495 million in 2022, declining to a loss of US$2,021 million in 2023, recovering to US$3,492 million in 2024, and then falling to a loss of US$445 million in 2025. This suggests that factors beyond net income significantly influence overall comprehensive income.
Comprehensive income, which incorporates net income and other comprehensive income, follows a similar pattern to other comprehensive income, ranging from US$10,601 million in 2021 to US$8,154 million in 2022, US$5,497 million in 2023, US$9,532 million in 2024, and US$10,174 million in 2025. The attributable portion to the parent company, IBM, closely mirrors the total comprehensive income figures. The noncontrolling interest portion remains relatively small and consistent throughout the period.
Overall, the statement of comprehensive income indicates a business subject to considerable external and internal factors. The substantial fluctuations in net income and other comprehensive income components suggest a dynamic operating environment and the potential for significant changes in financial performance from year to year.