Name: Las Vegas Sands Corp. (NYSE:LVS) | 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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Las Vegas Sands Corp., 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 (loss)	1,357)	(1,276)	(2,143)	3,304)	2,951)
Currency translation adjustment	14)	(51)	37)	42)	(58)
Cash flow hedge fair value adjustment	(3)	(4)	—)	—)	—)
Other comprehensive income (loss)	11)	(55)	37)	42)	(58)
Comprehensive income (loss)	1,368)	(1,331)	(2,106)	3,346)	2,893)
Comprehensive (income) loss attributable to noncontrolling interests	479)	319)	453)	(611)	(534)
Comprehensive income (loss) attributable to Las Vegas Sands Corp.	1,847)	(1,012)	(1,653)	2,735)	2,359)

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 comprehensive income for the period between 2018 and 2022 reveals a period of significant volatility, characterized by a sharp contraction in profitability followed by a steady recovery. The results indicate a severe disruption in earnings between 2020 and 2021, with a subsequent return to positive territory in 2022.

Profitability Trajectory: Net income exhibited a peak in 2019 at 3,304 million US dollars, followed by a substantial decline into negative territory. Losses reached their zenith in 2020 at 2,143 million US dollars, with a slight improvement in 2021 to a loss of 1,276 million US dollars. By 2022, the company returned to profitability, reporting a net income of 1,357 million US dollars, although this remains below the 2018 and 2019 benchmarks.
Other Comprehensive Income (OCI) Influence: Other comprehensive income remained a marginal factor relative to net income. Currency translation adjustments fluctuated throughout the period, ranging from a gain of 42 million US dollars in 2019 to a loss of 51 million US dollars in 2021. Cash flow hedge fair value adjustments appeared only in the final two years of the period, contributing minimal losses of 4 million and 3 million US dollars in 2021 and 2022, respectively.
Noncontrolling Interests Allocation: The attribution of comprehensive income to noncontrolling interests shifted inversely to the company's overall performance. In years of profitability (2018, 2019, and 2022), noncontrolling interests reduced the total comprehensive income. During the loss-making years of 2020 and 2021, the comprehensive loss attributable to noncontrolling interests provided a positive offset to the total loss, indicating a shared distribution of the financial downturn.
Attributable Comprehensive Income Trends: Comprehensive income attributable to the corporation closely tracked the net income trend, moving from 2,359 million US dollars in 2018 to a high of 2,735 million US dollars in 2019. The subsequent trough occurred in 2020 with a loss of 1,653 million US dollars, followed by a loss of 1,012 million US dollars in 2021. The recovery in 2022 saw attributable comprehensive income rise to 1,847 million US dollars, signaling a strong rebound from the period of volatility.

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