Name: Time Warner Inc. (NYSE:TWX) | 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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Time Warner Inc., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
Net income	5,244)	3,925)	3,832)	3,827)	3,691)
Change in foreign currency translation	178)	(121)	(284)	(228)	(28)
Change in securities	2)	—)	1)	(14)	13)
Change in benefit obligations	(69)	46)	(4)	(168)	146)
Change in derivative financial instruments	(38)	11)	5)	(6)	6)
Other comprehensive income (loss)	73)	(64)	(282)	(416)	137)
Comprehensive income	5,317)	3,861)	3,550)	3,411)	3,828)
Comprehensive loss attributable to noncontrolling interests	3)	1)	1)	—)	—)
Comprehensive income attributable to Time Warner Inc. shareholders	5,320)	3,862)	3,551)	3,411)	3,828)

Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).

The financial performance from 2013 to 2017 is characterized by a consistent upward trajectory in net income and a significant expansion in total comprehensive income by the end of the period.

Net Income Trends: Net income exhibited steady year-over-year growth, rising from US$ 3,691 million in 2013 to US$ 3,925 million in 2016. A substantial acceleration occurred in 2017, with net income increasing to US$ 5,244 million, representing a significant spike in core profitability.
Other Comprehensive Income (OCI) Volatility: Other comprehensive income demonstrated considerable volatility, shifting from a gain of US$ 137 million in 2013 to losses in the subsequent three years, reaching a low of negative US$ 416 million in 2014. This volatility was primarily driven by foreign currency translation adjustments, which remained negative from 2013 through 2016 before turning positive at US$ 178 million in 2017.
Comprehensive Income Performance: Total comprehensive income experienced a dip in 2014 to US$ 3,411 million, largely due to the aforementioned OCI losses. However, a recovery trend followed, with values rising to US$ 3,861 million in 2016 and peaking at US$ 5,317 million in 2017. The alignment of increased net income and positive currency translation in 2017 resulted in the strongest comprehensive performance of the period.
Secondary Financial Adjustments: Changes in benefit obligations showed inconsistent fluctuations, alternating between gains and losses, with the most significant impact being a loss of US$ 168 million in 2014. Impact from changes in securities and derivative financial instruments remained immaterial relative to the overall scale of net income throughout the five-year period.
Shareholder Attribution: Comprehensive income attributable to shareholders closely mirrored total comprehensive income, with noncontrolling interests accounting for a negligible portion of the comprehensive loss, peaking at only US$ 3 million in 2017.

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