Name: Marathon Oil Corp. (NYSE:MRO) | 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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Marathon Oil Corp., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net income (loss)	946)	(1,451)	480)	1,096)	(5,723)
Change in actuarial gain (loss) and other for postretirement and postemployment plans	14)	(30)	16)	121)	28)
Change in derivative hedges unrecognized gain (loss)	23)	(2)	2)	—)	(39)
Reclassification of de-designated forward interest rate swaps	(28)	—)	—)	—)	—)
Foreign currency translation adjustment related to sale of U.K. business	—)	—)	23)	—)	30)
Other	—)	—)	1)	4)	2)
Other comprehensive income (loss)	9)	(32)	42)	125)	21)
Comprehensive income (loss)	955)	(1,483)	522)	1,221)	(5,702)

Based on: 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), 10-K (reporting date: 2017-12-31).

The financial performance from 2017 to 2021 is characterized by extreme volatility in both net income and comprehensive income, with significant fluctuations between deep losses and periods of profitability.

Net Income Trajectory: A pattern of instability is evident, beginning with a substantial loss of 5,723 million US$ in 2017. A sharp recovery followed in 2018 and 2019, though profitability declined between those two years. A secondary significant downturn occurred in 2020 with a loss of 1,451 million US$, followed by a return to profitability in 2021 with a net income of 946 million US$.
Other Comprehensive Income (OCI) Drivers: OCI has remained a marginal component of the total comprehensive income relative to net income. The most influential variable within OCI was the change in actuarial gains and losses for postretirement and postemployment plans, which peaked at 121 million US$ in 2018 and reached a low of -30 million US$ in 2020. Derivative hedge gains and losses also exhibited volatility, ranging from a loss of 39 million US$ in 2017 to a gain of 23 million US$ in 2021.
Comprehensive Income Correlation: Comprehensive income closely tracks the movement of net income, indicating that OCI items were insufficient to meaningfully offset the core operational losses seen in 2017 and 2020. The total comprehensive loss in 2017 reached 5,702 million US$, while the most positive comprehensive result occurred in 2018 at 1,221 million US$.
Specific Adjustments: Non-recurring adjustments are noted, including foreign currency translation adjustments related to the sale of the U.K. business in 2017 and 2019, and a one-time reclassification of de-designated forward interest rate swaps amounting to -28 million US$ in 2021.

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