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.
Motorola Solutions Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 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), 10-K (reporting date: 2019-12-31).
- Net Earnings
- Net earnings demonstrated a consistent upward trend over the five-year period, increasing from $871 million in 2019 to $1,714 million in 2023. This represents nearly a doubling of earnings, indicating strong profitability growth.
- Foreign Currency Translation Adjustments
- Foreign currency translation adjustments fluctuated significantly during the period. Positive adjustments were observed in 2019 and 2020, with values of $34 million and $50 million respectively. However, in 2021 and 2022, these adjustments turned negative, reaching -$24 million and a notable -$155 million. In 2023, the figure rebounded to a positive $57 million, showing volatility likely due to exchange rate effects impacting the financials.
- Derivative Instruments
- Data for derivative instruments was largely absent until 2023, when a negative adjustment of -$12 million was recorded. This suggests recent activity or reflection of derivative instrument impacts on the financial results.
- Defined Benefit Plans
- Defined benefit plan adjustments exhibited variability, starting with a positive $291 million in 2019, turning negative at -$56 million in 2020, rising back to $91 million in 2021, then slightly negative in 2022 at -$1 million, and again negative at -$50 million in 2023. This oscillation indicates fluctuating impact from pension or retirement-related plan valuations on comprehensive income.
- Other Comprehensive Income (Loss), Net of Tax
- Other comprehensive income (loss), net of tax, showed a downward trend with an initial positive $325 million in 2019, turning near neutral at -$6 million in 2020, improving to $67 million in 2021, but then declining sharply in 2022 to -$156 million, and slightly improving to -$5 million in 2023. This volatility affected total comprehensive income.
- Comprehensive Income
- Comprehensive income followed an overall increasing trajectory but with some fluctuations. The amount moved from $1,196 million in 2019 to $1,709 million in 2023. Despite a decline in 2020 and again in 2022, the robust growth in other years contributed to the net increase.
- Earnings Attributable to Noncontrolling Interests
- Earnings attributable to noncontrolling interests remained relatively stable at a small negative value, fluctuating mildly between -$3 million and -$5 million across the years. These minor changes indicate a consistent minority interest impact on earnings.
- Comprehensive Income Attributable to Motorola Solutions, Inc.
- The comprehensive income attributable solely to the company closely mirrored total comprehensive income, rising from $1,193 million in 2019 to $1,704 million in 2023. The trend reflects the company's overall positive performance, driven primarily by net earnings growth despite fluctuations in other comprehensive income components.