Name: Motorola Solutions Inc. (NYSE:MSI) | 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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Motorola Solutions Inc., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net earnings	1,714)	1,367)	1,250)	953)	871)
Foreign currency translation adjustments	57)	(155)	(24)	50)	34)
Derivative instruments	(12)	—)	—)	—)	—)
Defined benefit plans	(50)	(1)	91)	(56)	291)
Other comprehensive income (loss), net of tax	(5)	(156)	67)	(6)	325)
Comprehensive income	1,709)	1,211)	1,317)	947)	1,196)
Earnings attributable to noncontrolling interests	(5)	(4)	(5)	(4)	(3)
Comprehensive income attributable to Motorola Solutions, Inc.	1,704)	1,207)	1,312)	943)	1,193)

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).

The financial performance from 2019 to 2023 is characterized by a consistent and significant expansion in net earnings, which serves as the primary driver for overall comprehensive income. While core profitability shows a steady upward trajectory, the total comprehensive income exhibits greater volatility due to fluctuations in other comprehensive income components, particularly foreign currency translations and defined benefit plan adjustments.

Net Earnings Growth: A sustained upward trend is observed in net earnings, which grew from 871 million USD in 2019 to 1,714 million USD in 2023. This represents a compound growth pattern, with the most substantial year-over-year increase occurring between 2020 and 2021, where earnings rose by approximately 31%.
Other Comprehensive Income Volatility: Other comprehensive income has displayed significant instability, shifting from a gain of 325 million USD in 2019 to a loss of 156 million USD in 2022. This volatility is largely attributed to foreign currency translation adjustments, which reached a low of negative 155 million USD in 2022 before recovering to a positive 57 million USD in 2023. Defined benefit plans also contributed inconsistent results, with a notable gain of 291 million USD in 2019 followed by periods of alternating losses and modest gains.
Comprehensive Income Trajectory: Comprehensive income generally mirrors the growth of net earnings but remains subject to the aforementioned OCI fluctuations. Despite a dip in 2020 (947 million USD) and 2022 (1,211 million USD), the figure reached a five-year peak of 1,709 million USD in 2023. The divergence between net earnings and comprehensive income was most pronounced in 2022, where negative OCI offset the gains in net earnings.
Attribution and Noncontrolling Interests: Earnings attributable to noncontrolling interests have remained marginal and consistent, ranging from negative 3 million USD to negative 5 million USD over the five-year period. Consequently, the vast majority of comprehensive income is attributed directly to Motorola Solutions, Inc., with the attributable comprehensive income closely tracking the total comprehensive income totals.

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