Name: Kinder Morgan Inc. (NYSE:KMI) | 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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Kinder Morgan Inc., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Net income	2,239)	1,919)	223)	721)	208)
Change in fair value of hedge derivatives, net of tax	(177)	111)	145)	(104)	164)
Reclassification of change in fair value of derivatives to net income, net of tax	6)	84)	(171)	(116)	(272)
Foreign currency translation adjustments, net of tax	108)	141)	101)	34)	(214)
Benefit plan adjustments, net of tax	77)	2)	40)	(14)	(122)
Other comprehensive income (loss), net of tax	14)	338)	115)	(200)	(444)
Comprehensive income (loss)	2,253)	2,257)	338)	521)	(236)
Comprehensive (income) loss attributable to noncontrolling interests	(66)	(328)	(86)	(13)	45)
Comprehensive income (loss) attributable to KMI	2,187)	1,929)	252)	508)	(191)

Based on: 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), 10-K (reporting date: 2015-12-31).

Between 2015 and 2019, a significant upward trajectory in overall financial performance is evident, characterized by a transition from a comprehensive loss to substantial positive gains. The growth is primarily driven by a sharp increase in net income, which expanded from 208 million US dollars in 2015 to 2,239 million US dollars by 2019.

Net Income Volatility and Growth: Net income exhibited a fluctuating pattern in the early period, rising to 721 million US dollars in 2016 before contracting to 223 million US dollars in 2017. However, a substantial acceleration occurred in 2018 and 2019, with figures reaching 1,919 million and 2,239 million US dollars respectively, indicating a strong recovery and growth phase in core profitability.
Other Comprehensive Income (OCI) Components: Other comprehensive income shifted from a negative 444 million US dollars in 2015 to a positive position by 2017, peaking at 338 million US dollars in 2018. This shift was influenced by several factors: foreign currency translation adjustments moved from a significant loss of 214 million US dollars in 2015 to consistent gains between 2016 and 2019. Benefit plan adjustments also improved over the period, transitioning from a loss of 122 million US dollars in 2015 to a gain of 77 million US dollars in 2019. Conversely, the fair value of hedge derivatives remained highly volatile, oscillating between gains and losses throughout the five-year span.
Comprehensive Income Attributable to KMI: The comprehensive income attributable to the company mirrors the positive trend of net income but reflects the impact of OCI and noncontrolling interests. After reporting a loss of 191 million US dollars in 2015, the company achieved positive results in subsequent years, culminating in 2,187 million US dollars in 2019. The influence of noncontrolling interests was most pronounced in 2018, where a negative adjustment of 328 million US dollars occurred.

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