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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- Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Analysis of Geographic Areas
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Debt to Equity since 2005
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Schlumberger Ltd., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 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).
The financial data reveals a significant recovery and improvement over the analyzed five-year period.
- Net Income (Loss)
- The company reported a substantial net loss in 2020 amounting to -$10,486 million. However, a positive turnaround is evident from 2021 onwards, with net income increasing consistently to $1,928 million in 2021, $3,492 million in 2022, $4,275 million in 2023, and reaching $4,579 million in 2024. This trend suggests a strong recovery and improving profitability over time.
- Net Change Arising During the Period and Currency Translation Adjustments
- Both metrics follow an identical pattern, beginning negative at -$239 million in 2020, moving to a positive $83 million in 2021, then turning negative again from 2022 through 2024 with values at -$26 million, -$113 million, and -$138 million respectively. This oscillation indicates fluctuations likely related to foreign exchange impacts and market conditions affecting the period.
- Cash Flow Hedges and Related Items
- The net gain or loss on cash flow hedges shows volatility, with a loss of $90 million in 2020, smaller losses in 2021 and 2022, then a positive gain of $177 million in 2023, and a marginal gain of $8 million in 2024. Realized gains and losses reclassified to net income also vary, peaking at $117 million in 2022. The net position on cash flow hedges was negative initially but turned positive in later years, indicating improved risk management outcomes associated with hedging activities.
- Actuarial Gains and Losses
- Actuarial gains and losses are notably volatile, showing a significant loss in 2020 (-$247 million), a large gain in 2021 ($1,075 million), then losses again from 2022 to 2024. Amortization of actuarial losses decreased over the years, becoming slightly negative in 2023 and 2024. These fluctuations reflect changes in pension and postretirement benefit plan obligations, potentially influenced by discount rates or asset performance.
- Other Pension-Related Adjustments
- Amortization of prior service cost remains consistently negative at -$23 million annually from 2021 through 2024. The impact of curtailment was recorded only in 2020 with -$69 million and is absent thereafter. Income taxes related to pension and other postretirement plans switched from negative values in 2020 and 2021 to positive amounts in the subsequent years, indicating changing tax impacts linked to benefit plans.
- Pension and Other Postretirement Benefit Plans Overall
- The net amount shows a loss in 2020 (-$171 million), a significant gain in 2021 ($1,249 million), followed by losses from 2022 onwards, reaching -$566 million in 2024. This mirrors the earlier analysis of actuarial effects and suggests continued volatility in retirement-related liabilities and assets.
- Other Comprehensive Income (Loss)
- This component exhibits wide swings, with a loss of -$446 million in 2020, then a substantial gain of $1,314 million in 2021, shifting back to losses in the following years ending with -$696 million in 2024. These fluctuations align with the variations in pension-related adjustments and hedge accounting results.
- Comprehensive Income (Loss)
- The overall comprehensive income presents a pattern similar to net income, showing a large loss in 2020 at -$10,932 million, followed by consistent gains. Comprehensive income improved to $3,242 million in 2021, then approximately stabilized around $3,800 million from 2022 through 2024. This stability suggests that while net income has steadily increased, other comprehensive income components continue to induce variability.
- Comprehensive Income Attributable to Noncontrolling Interests
- Amounts are relatively minor and increasingly negative, moving from -$32 million in 2020 to -$118 million in 2024. This gradual increase in negative attribution indicates a growing impact of noncontrolling interests on comprehensive income.
- Comprehensive Income Attributable to the Parent
- This metric closely tracks the overall comprehensive income trend, with significant losses initially ($-10,964 million in 2020) and steady positive values afterward, rising from $3,195 million in 2021 to around $3,765 million in 2024. This indicates the parent entity’s improved financial performance and recovery over the period.
In summary, the data exhibits a strong recovery from a severe net loss in 2020 to consistent profitability and positive comprehensive income in subsequent years. Volatility in pension-related costs and cash flow hedge valuations contribute to fluctuations in other comprehensive income, although these have moderated somewhat in the latter years. Currency translation impacts and noncontrolling interests exert minor but persistent influences on overall results. The overall trend points to strengthening financial performance and improved risk management outcomes over the course of the five years analyzed.