Name: Mosaic Co. (NYSE:MOS) | 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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Mosaic Co., consolidated statement of comprehensive income

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net earnings (loss) including noncontrolling interest	1,634,900)	665,600)	(1,090,800)	469,900)	(104,200)
Foreign currency translation gain (loss)	(108,200)	(249,500)	69,400)	(596,900)	240,500)
Net actuarial gain (loss) and prior service cost	36,900)	19,900)	(24,300)	(10,600)	6,300)
Realized gain (loss) on interest rate swap	1,500)	1,600)	1,700)	2,200)	1,700)
Net gain (loss) on marketable securities held in trust fund	(17,600)	12,800)	10,900)	4,600)	1,700)
Other comprehensive income (loss), net of tax	(87,400)	(215,200)	57,700)	(600,700)	250,200)
Comprehensive income (loss)	1,547,500)	450,400)	(1,033,100)	(130,800)	146,000)
Comprehensive (income) loss attributable to noncontrolling interest	(2,500)	7,700)	24,600)	5,300)	(2,600)
Comprehensive income (loss) attributable to Mosaic	1,545,000)	458,100)	(1,008,500)	(125,500)	143,400)

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 through 2021 is characterized by significant volatility in both net earnings and comprehensive income, culminating in a strong recovery in the final two years of the period.

Net Earnings Volatility: Net earnings experienced extreme fluctuations, shifting from a loss of $104.2 million in 2017 to a profit of $469.9 million in 2018, before plummeting to a loss of $1.09 billion in 2019. A subsequent recovery trend is observed, with earnings rising to $665.6 million in 2020 and peaking at $1.63 billion in 2021.
Other Comprehensive Income (OCI) and Currency Impact: Other comprehensive income is heavily influenced by foreign currency translation gains and losses. This component exhibited substantial instability, notably a loss of $596.9 million in 2018 and a loss of $249.5 million in 2020. These swings indicate a high sensitivity to global currency fluctuations, which frequently offset or augmented net earnings results.
Comprehensive Income Trajectory: Comprehensive income followed a trajectory similar to net earnings but was modulated by the volatility of OCI. Following a severe trough of $1.03 billion in 2019, comprehensive income surged to $1.55 billion by 2021. The comprehensive income attributable to the company closely tracks this overall trend, reflecting the primary drivers of the company's total economic performance.
Analysis of Minor Components: Net actuarial gains and losses, interest rate swaps, and marketable securities held in trust funds contributed marginally to the overall comprehensive income compared to primary earnings and currency effects. While marketable securities showed a steady increase from 2017 to 2020, they transitioned to a loss of $17.6 million in 2021. Actuarial results remained relatively stable throughout the period.

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