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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Monsanto Co., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31), 10-K (reporting date: 2013-08-31), 10-K (reporting date: 2012-08-31).
The financial data reveals several notable trends and fluctuations over the six-year period ending August 31, 2017.
- Net Income
- Net income showed an overall upward trend from 2012 through 2014, increasing from 2,093 million US dollars to 2,762 million US dollars. This was followed by a decline in 2015 and a more pronounced drop in 2016, falling to 1,313 million US dollars. In 2017, net income rebounded to 2,273 million US dollars, indicating some recovery but not reaching previous peak levels.
- Foreign Currency Translation, Net of Tax
- This component exhibited significant volatility, with large negative impacts in 2012 (-912 million) and 2015 (-1,600 million) and smaller negative or positive effects in other years. It turned positive in both 2014 and 2016-2017, with a value of 234 million in the latest year, suggesting improved translation effects on earnings.
- Postretirement Benefit Plan Activity, Net of Tax
- This item showed mixed results, with gains in 2013 and 2014 (128 million and 119 million respectively), losses in 2015 and 2016, and a return to gains in 2017. The fluctuations indicate changing impacts from postretirement benefit plan adjustments.
- Unrealized and Realized Gains (Losses) on Investment Holdings and Derivatives
- Unrealized gains and losses on investment holdings were generally small and sporadic, with sparse data available. Realized net gains/losses on investments remained near zero, alternating between slight negative and positive amounts.
- Unrealized net derivative gains/losses showed consistent negative values from 2012 to 2016, moving from -78 million to -42 million, before turning positive to 21 million in 2017. Realized derivative gains/losses fluctuated with negative figures in early years turning positive in later years, peaking at 55 million in 2016.
- Other Comprehensive Income (Loss), Net of Tax
- This measure reflected significant variation, with large negatives in 2012 (-960 million) and 2015 (-1,691 million), a moderate loss in 2016 (-8 million), and a positive 382 million in 2017. The swings suggest volatility in components aside from net income affecting overall comprehensive income.
- Comprehensive Income
- Comprehensive income, aggregating net income and other comprehensive effects, rose from 1,133 million in 2012 to a peak of 2,936 million in 2014, followed by a steep drop to 634 million in 2015. It then gradually recovered to 1,305 million in 2016 and 2,655 million in 2017. This pattern mirrors net income trends but with amplified changes due to comprehensive items.
- Comprehensive Income Attributable to Monsanto Company
- The amount attributable to the company closely follows the overall comprehensive income trend, confirming that the majority of the comprehensive income impact pertains to the company rather than noncontrolling interests, which showed relatively minor and inconsistent effects over the period.