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 Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
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Johnson & Johnson, consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2024-12-29), 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).
The net earnings exhibit considerable volatility over the five-year period. The value starts at 14,714 million USD in 2020, rises significantly to 20,878 million USD in 2021, then declines to 17,941 million USD in 2022. A pronounced peak occurs in 2023 with net earnings reaching 35,153 million USD, followed by a sharp decrease to 14,066 million USD in 2024.
- Foreign currency translation
- This item shows negative impacts from 2020 through 2023, with losses deepening from -233 million USD to -3,221 million USD before reversing to a positive 1,708 million USD in 2024, indicating potential currency-related gains or hedge effectiveness improving in the last period.
- Unrealized holding gain (loss) and Securities, net change
- Both metrics follow an identical trend with small fluctuations: minor gains and losses mostly under 50 million USD. A notable positive change occurs in 2023 with a gain of 26 million USD, followed by a modest gain in 2024 at 2 million USD.
- Prior service credit (cost), net of amortization
- This item begins with a sizeable credit of 1,298 million USD in 2020 but shows consistent negative adjustments from 2021 onwards, fluctuating slightly around -150 million USD, indicating ongoing amortization costs related to employee benefit plans.
- Gain (loss), net of amortization
- The gain (loss) net of amortization demonstrates significant variability. After a loss of -1,135 million USD in 2020, it sharply improves to a gain of 4,318 million USD in 2021, then declines to a gain of 1,854 million USD in 2022, followed by a loss of -1,183 million USD in 2023, and ends positively at 541 million USD in 2024.
- Consumer settlement/curtailment
- This line shows minimal data, with only one entry of 23 million USD in 2023, suggesting possibly a one-time event impacting financial performance.
- Effect of exchange rates
- The effect of exchange rates fluctuates around a neutral position, ranging from -229 million USD in 2020 to small gains and losses in other years, with a positive impact of 62 million USD in 2024.
- Employee benefit plans, net change
- This metric reveals substantial swings, starting slightly negative in 2020, peaking at 4,255 million USD in 2021, decreasing to 1,805 million USD in 2022, sharply reversing to -1,399 million USD in 2023, and rebounding to 449 million USD in 2024. This volatility suggests changes in assumptions or funding status of benefit obligations.
- Unrealized gain (loss) arising during period
- The unrealized gains/losses show high variability, starting with a 1,000 million USD gain in 2020, shifting to a moderate loss in 2021, back to gains in 2022 and 2023, then a significant negative adjustment of -511 million USD in 2024.
- Reclassifications to earnings
- This item consistently reflects negative amounts throughout all years, increasing in absolute value, which indicates ongoing transfers from other comprehensive income to the income statement, totaling the largest negative figure of -862 million USD in 2024.
- Derivatives & hedges, net change
- There is noticeable fluctuation in derivatives and hedging activities, with positive impacts in 2020 and 2022 but significant negative changes during 2021, 2023, and 2024. The largest negative change occurs in 2024 at -1,373 million USD, indicative of increased hedging costs or valuation losses.
- Other comprehensive income (loss), net of tax
- This item displays wide swings with positive values in 2020 and 2021, almost neutral in 2022, a severe loss of -4,741 million USD in 2023, followed by a rebound to 786 million USD in 2024. This volatility reflects the combined effects of the components included in other comprehensive income.
- Comprehensive income
- Comprehensive income closely follows the pattern of net earnings but with less dramatic reversals. Starting at 15,363 million USD in 2020, it escalates to 23,062 million USD in 2021, declines to 18,032 million USD in 2022, falls again to 30,412 million USD in 2023, and then contracts significantly to 14,852 million USD in 2024. This trend reflects the aggregate impact of net earnings and other comprehensive income elements over time.