Name: Visa Inc. (NYSE:V) | 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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Visa Inc., consolidated statement of comprehensive income

US$ in millions

12 months ended:	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019	Sep 30, 2018	Sep 30, 2017
Net income	14,957)	12,311)	10,866)	12,080)	10,301)	6,699)
Net unrealized gain (loss), net of tax	(105)	(3)	1)	15)	75)	36)
Reclassification adjustments, net of tax	—)	(1)	(2)	1)	(165)	1)
Investment securities	(105)	(4)	(1)	16)	(90)	37)
Net unrealized actuarial gain (loss) and prior service credit (cost), net of tax	(130)	137)	(6)	(138)	11)	129)
Reclassification adjustments, net of tax	10)	10)	15)	7)	4)	20)
Defined benefit pension and other postretirement plans	(120)	147)	9)	(131)	15)	149)
Net unrealized gain (loss), net of tax	740)	18)	(428)	208)	66)	(7)
Reclassification adjustments, net of tax	(65)	16)	(62)	(69)	30)	21)
Derivative instruments	675)	34)	(490)	139)	96)	14)
Foreign currency translation adjustments	(3,255)	(95)	1,511)	(1,228)	(352)	1,136)
Other comprehensive income (loss), net of tax	(2,805)	82)	1,029)	(1,204)	(331)	1,336)
Comprehensive income	12,152)	12,393)	11,895)	10,876)	9,970)	8,035)

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 exhibited a consistent upward trajectory over the six-year period, increasing from US$ 6,699 million in 2017 to US$ 14,957 million in 2022. While a marginal contraction occurred in 2020, the overall trend demonstrates strong profitability growth. Comprehensive income followed a general upward trend but displayed less linearity than net income due to significant fluctuations in other comprehensive income components.

Net Income Performance: Annual net income grew substantially, peaking in 2022. The progression from 2017 to 2022 represents more than a twofold increase in annual earnings, indicating a strong underlying growth in core operational profitability.
Foreign Currency Translation Impacts: This component serves as the primary driver of volatility within the statement of comprehensive income. Extreme swings are observed, most notably a gain of US$ 1,511 million in 2020 followed by a substantial loss of US$ 3,255 million in 2022, suggesting significant exposure to currency market fluctuations.
Other Comprehensive Income (OCI) Volatility: OCI experienced extreme variance, ranging from a high of US$ 1,336 million in 2017 to a low of US$ 2,805 million in 2022. This volatility frequently moderated the gains realized in net income, creating a gap between operating performance and total comprehensive results.
Derivative Instruments and Investment Securities: Derivative instruments showed inconsistent results, characterized by a sharp decline in 2020 (US$ -490 million) and a significant recovery in 2022 (US$ 675 million). Investment securities remained relatively immaterial compared to currency translation but trended toward a net loss of US$ 105 million by 2022.
Comprehensive Income Divergence: A notable divergence occurred in 2022; while net income reached its highest point in the analyzed period, comprehensive income declined to US$ 12,152 million from US$ 12,393 million in the previous year. This contraction was driven almost exclusively by the heavy negative impact of foreign currency translation adjustments.

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