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
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2008
- Return on Assets (ROA) since 2008
- Debt to Equity since 2008
- Price to Earnings (P/E) since 2008
- Price to Book Value (P/BV) since 2008
- Analysis of Revenues
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Visa Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30).
- Net Income
- The net income exhibited a consistent upward trend from 2017 to 2022, increasing from $6,699 million to $14,957 million. There was steady growth year-over-year, with a minor decline in 2020 corresponding potentially to external economic factors or operational challenges. The recovery post-2020 was strong, reaching the highest value in 2022.
- Net Unrealized Gain (Loss), Net of Tax
- This item showed considerable volatility over the years. Starting at a modest gain of $36 million in 2017, it peaked at $75 million in 2018 before declining to a slight gain of $1 million in 2020, turning into losses by 2021 and 2022. The loss deepened substantially in 2022 to $105 million, indicating increased market fluctuations or investment depreciation during this period.
- Reclassification Adjustments, Net of Tax (Investment Securities)
- Reclassification adjustments for investment securities fluctuated without a clear trend. Notably, there was a significant negative adjustment in 2018 (-$165 million), while other years showed small positive or negative amounts, implying irregular reclassification activity or accounting changes affecting this line.
- Investment Securities
- Values under investment securities revealed negative figures in several years, with sharp decreases in 2018 and 2022 (-$90 million and -$105 million respectively). This suggests periods of devaluation or write-downs in the investment portfolio during these years.
- Net Unrealized Actuarial Gain (Loss) and Prior Service Credit (Cost), Net of Tax
- This metric showed fluctuating values from a high of $129 million in 2017 to significant negative values in 2019 (-$138 million) and 2022 (-$130 million). The data suggest volatility in actuarial assessments and service cost adjustments for employee benefit plans.
- Reclassification Adjustments, Net of Tax (Defined Benefit Pension and Other Postretirement Plans)
- The adjustments remained relatively small and consistent, ranging between $4 million and $20 million annually, indicating stable reclassifications in this category over time.
- Defined Benefit Pension and Other Postretirement Plans
- The figures varied notably, with positive values in 2017 ($149 million), 2020 ($9 million), and 2021 ($147 million), contrasted by negative values in 2019 (-$131 million) and 2022 (-$120 million). This volatility denotes fluctuations in pension valuations and associated plans.
- Net Unrealized Gain (Loss), Net of Tax (Derivative Instruments)
- Substantial variability is present in derivative instruments, ranging from positive gains of $208 million in 2019 to a significant loss in 2020 (-$428 million). Gains surged again in 2022 to $740 million, illustrating high sensitivity of derivative holdings to market conditions during this period.
- Reclassification Adjustments, Net of Tax (Derivative Instruments)
- These adjustments displayed variability, mostly small gains with some notable negative adjustments in 2019 and 2020 (-$69 million and -$62 million), indicating sporadic reclassification activity impacting derivative instruments.
- Foreign Currency Translation Adjustments
- This line showed high volatility with a peak gain of $1,511 million in 2020, contrasting with substantial negative values in 2018 (-$352 million), 2019 (-$1,228 million), and a significant decrease in 2022 (-$3,255 million). These swings suggest considerable impact from foreign exchange rate fluctuations on the reported financial results.
- Other Comprehensive Income (Loss), Net of Tax
- Other comprehensive income/loss mirrored the volatility in foreign currency translation adjustments and other components, swinging from a gain of $1,336 million in 2017 to a large loss of $2,805 million in 2022. This indicates significant swings in comprehensive income components outside of net income.
- Comprehensive Income
- Comprehensive income showed growth from $8,035 million in 2017 to a peak in 2020 of $11,895 million, followed by a slight decline in subsequent years, ending at $12,152 million in 2022. Despite fluctuations in other comprehensive income, overall comprehensive income remained positive and relatively stable.