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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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Price to FCFE (P/FCFE)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
- Analysis of Debt
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Time Warner Inc., consolidated statement of comprehensive income
US$ in millions
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 data reveals several notable trends over the five-year period from 2013 to 2017. Net income exhibits a steady upward trajectory, increasing from $3,691 million in 2013 to $5,244 million in 2017. This demonstrates consistent profitability growth, with a more pronounced rise in the final year.
Foreign currency translation effects show considerable volatility. The change is negative from 2013 through 2016, peaking at a loss of $284 million in 2015, before reversing sharply to a positive $178 million in 2017. This suggests fluctuating impacts from currency exchange rates, with a marked improvement in the last year.
Changes in securities present minor fluctuations with small positive and negative values, generally close to zero. The data for 2016 is missing, but overall, this component does not significantly influence the comprehensive income trend.
Benefit obligations change erratically, oscillating from a positive $146 million in 2013 to a negative $168 million in 2014, followed by near zero change in 2015, a moderate positive shift in 2016, and finally a decline of $69 million in 2017. This volatility indicates varying pension or post-employment benefit adjustments impacting the comprehensive income.
Derivative financial instruments also display variability with alternating positive and negative changes. The fluctuations range from $6 million in 2013 down to -$38 million in 2017, suggesting sensitivity to financial market conditions affecting derivatives over the years.
Other comprehensive income (loss) aligns closely with the movements in foreign currency translation, benefit obligations, and derivative instruments. After a positive $137 million in 2013, it turns sharply negative in 2014 and 2015, with -$416 million and -$282 million respectively, followed by a lesser loss in 2016 and a return to a positive $73 million in 2017. This pattern reflects the combined effects of the above components on the overall comprehensive income outside net income.
Comprehensive income follows a pattern consistent with net income and other comprehensive income changes. It decreases from $3,828 million in 2013 to $3,411 million in 2014, slightly recovers in 2015 and 2016, and then significantly increases to $5,317 million in 2017. This indicates that both operational performance and other comprehensive components contributed positively to overall shareholder value in 2017.
Comprehensive loss attributable to noncontrolling interests appears negligible in the early years but shows a small but increasing loss from 2015 onwards, reaching $3 million in 2017, implying a minor but growing impact from noncontrolling interests on the comprehensive results.
Comprehensive income attributable to shareholders closely mirrors the comprehensive income trend, showing a decline in 2014 followed by steady growth through 2017, culminating at $5,320 million. This represents the main portion of comprehensive income and underscores the company's improved financial performance and comprehensive profitability over time.