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 Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Aggregate Accruals
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United States Steel Corp., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
- Net Earnings (Loss)
- The net earnings showed significant volatility over the examined period. Initially, there was a positive earning of 1115 million USD at the end of 2018. This reversed dramatically in 2019 and 2020, with losses of 630 million USD and 1165 million USD, respectively. A notable recovery occurred in 2021, with net earnings surging to 4174 million USD, followed by a decline to 2524 million USD in 2022, yet remaining substantially positive.
- Changes in Foreign Currency Translation Adjustments
- Foreign currency translation adjustments fluctuated moderately with negative values in 2018, 2019, 2021, and 2022, ranging from -22 million USD to -91 million USD. There was an exception in 2020 where the adjustment became positive at 68 million USD. The negative adjustments in most years may reflect adverse effects from currency fluctuations on the financial results.
- Changes in Pension and Other Employee Benefit Accounts
- Variability was observed in the pension and employee benefit accounts adjustments. A negative figure of -107 million USD occurred in 2018, which shifted to positive adjustments in 2019 (573 million USD), 2020 (385 million USD), and 2021 (433 million USD). However, 2022 recorded a substantial negative change of -297 million USD, indicating increased pension or employee benefit liabilities or related costs in that year.
- Changes in Derivative Financial Instruments
- The changes in derivative financial instruments mostly remained negative or marginally negative, except in 2021, which showed a positive adjustment of 23 million USD. Values ranged from -14 million USD to -28 million USD in other years, suggesting an overall unfavorable impact from derivative instruments except for the notable positive effect in 2021.
- Other Comprehensive Income (Loss), Net of Tax
- Other comprehensive income displayed positive values in 2019, 2020, and 2021 ranging from 378 million USD to 548 million USD, signifying gains or favorable adjustments in these years. Conversely, 2018 and 2022 experienced losses in other comprehensive income reaching -181 million USD and -416 million USD, respectively, indicating less favorable comprehensive income components in those years.
- Comprehensive Income (Loss) Including Noncontrolling Interest
- Comprehensive income followed trends similar to net earnings. Starting with a positive 934 million USD in 2018, it turned negative in 2019 and 2020 (-82 million USD and -734 million USD respectively). There was a strong recovery in 2021 with a sharp increase to 4552 million USD, followed by a decline to 2108 million USD in 2022. The comprehensive income attributable to the corporation mirrored these trends closely, confirming consistent performance patterns.