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.
Medtronic PLC, consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2025-04-25), 10-K (reporting date: 2024-04-26), 10-K (reporting date: 2023-04-28), 10-K (reporting date: 2022-04-29), 10-K (reporting date: 2021-04-30), 10-K (reporting date: 2020-04-24).
The financial data reveals several noteworthy trends in the company's profitability, other comprehensive income components, and overall comprehensive income over the six-year period.
- Net Income
- Net income exhibited volatility, with a significant decline from 4806 million USD in 2020 to 3630 million USD in 2021, followed by a rebound to 5062 million USD in 2022. Subsequently, values decreased again in 2023 and 2024, before rising to 4691 million USD in 2025. Overall, net income shows a fluctuating trend without consistent growth or decline.
- Unrealized Gain (Loss) on Investment Securities
- This item showed variability with gains of 45 and 92 million USD in 2020 and 2021, respectively, but a loss of -301 million USD in 2022. The following years showed smaller gains and losses, ending with a sizable gain of 149 million USD in 2025. This suggests exposure to market-related fluctuations impacting investment valuations.
- Translation Adjustment
- This component fluctuated sharply, with a negative value of -829 million USD in 2020, switching to a positive 1699 million USD in 2021, then sharply negative again in 2022 and 2024. Positive reversal occurred again in 2025 at 853 million USD. These wide swings indicate significant currency translation effects, reflecting global operations and exchange rate volatility.
- Net Investment Hedge
- The net investment hedge displayed extreme swings, including a gain of 405 million USD in 2020, a loss of -1694 million USD in 2021, a gain of 2299 million USD in 2022, and alternating signs thereafter. This pattern highlights the company's active use of hedging strategies subject to varying market conditions and risk exposures.
- Net Change in Retirement Obligations
- This item was negative in 2020 (-544 million USD) but positive in the next three years, albeit with small amounts, then dropped to -110 million USD in 2025. The relatively small magnitude and variability indicate shifting actuarial assumptions or pension-related changes affecting overall obligations.
- Unrealized Gain (Loss) on Cash Flow Hedges
- Substantial fluctuations were seen here, starting with a gain of 72 million USD in 2020, a large loss in 2021 (-519 million USD), a gain in 2022 (727 million USD), then losses and gains in subsequent years, ending with a -381 million USD loss in 2025. This reflects the dynamic nature of cash flow hedging outcomes under varying interest rate and commodity price conditions.
- Other Comprehensive Income (Loss), Net of Tax
- Other comprehensive income showed considerable swings from a loss of -851 million USD in 2020 to a gain of 1213 million USD in 2022, then a sharp loss of -1234 million USD in 2023. The fluctuations continued through 2025, indicating variable impacts of foreign currency, hedging, and retirement plans on comprehensive income outside of net income.
- Comprehensive Income Including Noncontrolling Interests
- Comprehensive income generally followed the net income pattern with highs and lows, peaking at 6275 million USD in 2022 and dipping to as low as 2550 million USD in 2023. The value remained relatively stable around the 3700-3900 million USD mark in 2024 and 2025, reflecting overall performance incorporating other comprehensive income elements.
- Comprehensive Income Attributable to Noncontrolling Interests
- Amounts attributable to noncontrolling interests were consistently negative but relatively small, ranging narrowly from -15 to -32 million USD. This stable minor negative effect indicates limited impact from noncontrolling shareholders on overall comprehensive income.
- Comprehensive Income Attributable to the Company
- This measure mirrors the comprehensive income including noncontrolling interests, fluctuating with net income and other comprehensive income effects. The highest value occurred in 2022 at 6258 million USD, while the lowest was 2524 million USD in 2023, with moderate recovery seen towards 2025.