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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RH, consolidated statement of comprehensive income
US$ in thousands
Based on: 10-K (reporting date: 2023-01-28), 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03).
The analysis of the annual financial data reveals several notable trends over the period from February 3, 2018, to January 28, 2023. Net income exhibits a general upward trajectory with significant fluctuations. Specifically, it starts from a low base of 2,180 thousand US dollars in 2018 and surges sharply to 150,639 thousand US dollars in 2019, followed by continued increases to a peak of 688,546 thousand US dollars in 2022. However, in 2023, net income declines substantially to 528,642 thousand US dollars, indicating a reversal from the previous year's peak.
Net gains (losses) from foreign currency translation show considerable volatility without a clear upward or downward trend. Starting with a positive 1,510 thousand US dollars in 2018, this line item turns negative in 2019 and 2020, then briefly recovers to a positive 5,325 thousand US dollars in 2021, before again declining into negative territory in 2022 and 2023. This pattern suggests exposure to foreign exchange risks affecting other comprehensive income.
Net unrealized gains (losses) on investment securities are reported only in 2018, with a minimal positive amount of 11 thousand US dollars, and are not present in subsequent years, indicating either a shift in investment strategy or a change in reporting classification. Consequently, other comprehensive income closely mirrors the foreign currency translation gains and losses, reflecting similar fluctuations over the years.
Comprehensive income, which combines net income and other comprehensive income, follows the general trend of net income with notable growth from 3,701 thousand US dollars in 2018 to a high of 684,571 thousand US dollars in 2022 and a subsequent decrease to 527,649 thousand US dollars in 2023. The comprehensive income trend underscores the dominant effect of net income movements relative to other comprehensive items, despite their volatility.
- Summary of Trends
-
- Net Income:
- Strong overall growth with a peak in 2022, followed by a decline in 2023.
- Foreign Currency Translation Gains (Losses):
- Highly variable with swings between positive and negative values, indicating foreign exchange impact on earnings.
- Unrealized Gains on Investment Securities:
- Insignificant and only reported in 2018; absence in later years suggests changes in investment holdings or accounting treatment.
- Other Comprehensive Income:
- Highly influenced by foreign currency translation, showing volatility without a consistent trend.
- Comprehensive Income:
- Mirrors net income trends closely, reinforcing net income as the primary driver of overall comprehensive financial performance.