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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Linde plc pages available for free this week:
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Linde plc, consolidated statement of comprehensive income
US$ in millions
Based on: 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), 10-K (reporting date: 2020-12-31).
The financial data reveals several notable trends and fluctuations over the five-year period ending December 31, 2024. The net income, including noncontrolling interests, shows a consistent upward trajectory, increasing from $2,626 million in 2020 to $6,737 million in 2024. This growth indicates overall improved profitability.
Translation adjustments display significant volatility, with positive values in 2020 and 2023, but substantial negative figures in 2021, 2022, and 2024. This suggests currency exchange impacts have been inconsistent and have occasionally detracted from the company's results.
The funded status of retirement obligations fluctuates between positive and negative figures. It starts negative in 2020 (-$469 million), rises to positive in 2021 and 2022, dips back to a negative in 2023, and again turns positive in 2024. These swings may reflect changes in actuarial assumptions, investment returns, or contributions related to retirement plans.
Amounts related to derivative instruments also show variability, beginning with small positive values in 2020 and 2021, followed by negative values in subsequent years, indicating potential losses or changes in hedging valuations.
Other comprehensive income (loss) follows a generally negative pattern, with a loss increasing in magnitude from -$358 million in 2021 to -$1,126 million in 2024 after a smaller loss in 2023. This suggests persistent adverse factors affecting comprehensive income aside from net income.
Comprehensive income, including noncontrolling interests, demonstrates growth from $2,783 million in 2020 to a peak of $6,306 million in 2023, before declining to $5,611 million in 2024. This drop aligns with the increased losses in other comprehensive income and negative translation adjustments in 2024.
Noncontrolling interests remain relatively stable, showing small negative amounts throughout the period, indicating minor impacts from minority shareholders on income.
Finally, comprehensive income attributable specifically to the company follows a similar pattern to overall comprehensive income, rising from $2,625 million in 2020 to a peak of $6,176 million in 2023, then falling to $5,476 million in 2024. This reflects a strong growth in core earnings tempered by the described adverse changes in other comprehensive income components in the most recent year.