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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- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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United Parcel Service Inc., 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 several notable trends over the five-year period ending December 31, 2024.
- Net Income
- Net income displayed significant growth in 2021, reaching a peak of 12,890 million US dollars. However, it declined in the subsequent years, falling to 11,548 million in 2022, then decreasing sharply to 6,708 million in 2023 and further to 5,782 million in 2024. This indicates a marked decrease in profitability after 2021.
- Change in Foreign Currency Translation Adjustment, Net of Tax
- The foreign currency translation adjustment showed volatility, with a positive adjustment of 97 million in 2020, turning negative in 2021 and 2022 at -181 million and -284 million respectively. A positive reversal appeared in 2023 with 198 million, followed again by a negative adjustment of -338 million in 2024. This suggests fluctuating impacts from currency exchange rate movements over the period.
- Change in Unrealized Gain (Loss) on Marketable Securities, Net of Tax
- This item exhibited minor fluctuations, with small losses in 2021 and 2022 (-7 million and -10 million), then positive gains in 2023 (9 million) and a slight gain in 2024 (1 million), indicating relatively stable but modest marketable securities valuation changes.
- Change in Unrealized Gain (Loss) on Cash Flow Hedges, Net of Tax
- The cash flow hedges gains and losses were volatile. A significant loss of -335 million occurred in 2020, reversed to gains in 2021 and 2022 (206 million and 184 million). However, 2023 showed a substantial loss again (-243 million), followed by a positive gain of 167 million in 2024, reflecting fluctuating effectiveness and valuation of hedging activities.
- Change in Unrecognized Pension and Postretirement Benefit Costs, Net of Tax
- There was a substantial improvement in 2021 with a positive adjustment of 3,817 million, after a large negative impact of -880 million in 2020. The subsequent years showed diminishing positive adjustments in 2022 (1,839 million), followed by negative impacts in 2023 (-2,173 million) and 2024 (-381 million), indicating volatility and potential risks related to pension and postretirement benefit obligations.
- Other Comprehensive Income (Loss)
- This aggregated measure of other comprehensive income followed a similar pattern, with a significant loss in 2020 (-1,116 million), a large positive gain in 2021 (3,835 million), positive though reduced gain in 2022 (1,729 million), and losses in 2023 (-2,209 million) and 2024 (-551 million), suggesting overall fluctuating components in comprehensive income outside net income.
- Comprehensive Income
- Comprehensive income showed a steep increase in 2021 to 16,725 million, followed by a decline to 13,277 million in 2022. There was a significant drop in 2023 to 4,499 million and a slight recovery in 2024 to 5,231 million. This trend reflects a volatile overall performance when considering both net income and other comprehensive income elements.