Name: Kimberly-Clark Corp. (NYSE:KMB) | 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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Kimberly-Clark Corp., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016
Net income	2,396)	2,197)	1,445)	2,319)	2,219)
Unrealized currency translation adjustments	129)	19)	(428)	517)	(107)
Employee postretirement benefits	37)	12)	140)	118)	(113)
Other	(34)	(34)	51)	(45)	15)
Other comprehensive income (loss), net of tax	132)	(3)	(237)	590)	(205)
Comprehensive income	2,528)	2,194)	1,208)	2,909)	2,014)
Comprehensive income attributable to noncontrolling interests	(55)	(31)	(22)	(76)	(44)
Comprehensive income attributable to Kimberly-Clark Corporation	2,473)	2,163)	1,186)	2,833)	1,970)

Based on: 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31).

The financial performance from 2016 to 2020 is characterized by a general resilience in net income, juxtaposed with significant volatility in other comprehensive income components. While net income experienced a notable contraction in 2018, a consistent recovery followed, culminating in a five-year peak by the end of 2020.

Net Income Trends: Net income remained relatively stable between 2016 and 2017, before experiencing a sharp decline to 1,445 million US dollars in 2018. This represented a decrease of approximately 37.7% from the previous year. However, a strong recovery was observed in 2019 and 2020, with net income rising to 2,197 million and 2,396 million US dollars, respectively, surpassing 2016 levels.
Volatility of Other Comprehensive Income (OCI): The OCI net of tax exhibited substantial fluctuations, primarily driven by unrealized currency translation adjustments. A significant positive adjustment of 517 million US dollars in 2017 contributed to a peak OCI of 590 million US dollars. Conversely, 2018 saw a sharp reversal with currency translation adjustments dropping to negative 428 million US dollars, leading to a total OCI loss of 237 million US dollars for that year.
Employee Postretirement Benefits: Adjustments related to employee postretirement benefits showed inconsistency, moving from a loss of 113 million US dollars in 2016 to gains in 2017 and 2018, reaching a high of 140 million US dollars. The impact of these benefits diminished significantly in 2019 and 2020, settling at 12 million and 37 million US dollars, respectively.
Comprehensive Income Attributable to the Corporation: Comprehensive income attributable to the corporation followed the volatile trajectory of the OCI components. It peaked in 2017 at 2,833 million US dollars, coinciding with favorable currency movements. The lowest point occurred in 2018 at 1,186 million US dollars, driven by the simultaneous decline in both net income and currency translation values. By 2020, comprehensive income recovered to 2,473 million US dollars, reflecting a stabilized net income and modest positive currency adjustments.

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