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.
Waste Management Inc., consolidated statement of comprehensive income
US$ in millions
Based on: 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), 10-K (reporting date: 2017-12-31).
- Consolidated net income
- The consolidated net income shows a declining trend from 2017 to 2020, decreasing from 1949 million US dollars in 2017 to 1496 million US dollars in 2020. However, there is a notable recovery in 2021, with net income rising to 1817 million US dollars, although it has not yet returned to the 2017 level.
- Derivative instruments, net
- Values for derivative instruments net position fluctuate at relatively low levels, ranging from 7 to 15 million US dollars during the period. The amount increases from 7 million in 2017 to a peak of 15 million in 2020, then decreases to 9 million in 2021, indicating some variability but no strong upward or downward trend.
- Available-for-sale securities, net
- The available-for-sale securities net value shows moderate volatility. It increases from 2 million in 2017 to a peak of 15 million in 2019, followed by a decrease to 11 million in 2020 and then a significant decline to negative 6 million in 2021, suggesting potential impairments or market value adjustments impacting these securities towards the end of the period.
- Foreign currency translation adjustments
- This category is characterized by high volatility and lack of consistent direction. It experiences a negative adjustment of -105 million US dollars in 2018 after being positive in 2017 (76 million), followed by recovery in 2019 (55 million) and 2020 (20 million), then another negative figure in 2021 (-28 million). This pattern indicates fluctuating foreign currency impacts on the company’s financials over the years.
- Post-retirement benefit obligation, net
- The post-retirement benefit obligation net amounts remain low and relatively stable, fluctuating between 1 and 3 million US dollars over the five-year period. This suggests minimal changes in post-retirement benefit obligations during the years analyzed.
- Other comprehensive income (loss), net of tax
- Other comprehensive income (loss) shows significant variability, with positive results of 88 million in 2017 and 79 million in 2019, contrasting with negative outcomes in 2018 (-90 million) and 2021 (-22 million). The 2020 figure is positive but lower at 47 million. This volatility reflects the combined impacts of items such as foreign currency translation adjustments and available-for-sale securities.
- Comprehensive income
- Comprehensive income mirrors the trend of consolidated net income but shows slightly higher values due to other comprehensive items. It starts at 2037 million US dollars in 2017, decreases progressively to 1543 million in 2020, and then recovers to 1795 million in 2021. The decrease over the years aligns with the fluctuating other comprehensive income and foreign currency impacts, while the 2021 rebound parallels net income recovery.
- Comprehensive (income) loss attributable to noncontrolling interests
- The attribution to noncontrolling interests is mostly minimal, with small positive or negative amounts indicated in some years (2 million in 2018, -1 million in 2019 and 2021) and missing data in other years. The overall impact on comprehensive income is therefore small and inconsistent.
- Comprehensive income attributable to Waste Management, Inc.
- This measure closely follows the total comprehensive income trend, with values declining from 2037 million in 2017 to 1543 million in 2020 before rising again to 1794 million in 2021, confirming that most of the comprehensive income is attributable to the parent company and that it experienced a decline and partial recovery pattern during the period analyzed.