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.
Williams-Sonoma Inc., consolidated statement of comprehensive income
US$ in thousands
Based on: 10-K (reporting date: 2024-01-28), 10-K (reporting date: 2023-01-29), 10-K (reporting date: 2022-01-30), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-02-02), 10-K (reporting date: 2019-02-03).
- Net Earnings
- Net earnings demonstrated a substantial upward trajectory from February 2019 to January 2022, increasing from approximately $334 million to over $1.12 billion. This growth trend markedly slowed in the subsequent year ending January 2023, maintaining a similar level around $1.13 billion. However, there was a notable decline in the most recent period ending January 2024, with net earnings decreasing to approximately $950 million.
- Foreign Currency Translation Adjustments
- Foreign currency translation adjustments experienced fluctuations with predominantly negative values from 2019 through 2020 and again in recent years. Notably, positive adjustments were observed in 2021 with a value of nearly $8.2 million. The subsequent years reverted to negative adjustments, with the magnitude of these negative figures generally decreasing over time, reaching less than $1 million in the latest period.
- Change in Fair Value of Derivative Financial Instruments, Net of Tax
- This item shows irregular and relatively minor fluctuations, initially positive in 2019 and 2020, turning negative in 2021 and 2022, and returning to positive in the last two years. The values remain low, suggesting limited impact on overall financial performance.
- Reclassification Adjustment for Realized (Gain) Loss on Derivative Financial Instruments, Net of Tax
- This adjustment consistently displayed negative values in most years except for a positive spike in 2022. The values exhibit volatility, indicating sporadic realized gains or losses associated with derivative instruments, which could impact comprehensive income within those periods.
- Other Comprehensive Income (Loss)
- Other comprehensive income or loss mirrors the behavior of foreign currency and derivative adjustments, with negative values dominating but punctuated by a significant positive figure in 2021. The magnitude of the loss generally decreased over the recent years, indicating a reduction in other comprehensive losses.
- Comprehensive Income
- Comprehensive income closely follows the pattern of net earnings, showing strong growth from 2019 through 2022, peaking at approximately $1.12 billion. It then stabilizes in 2023 before decreasing in the most recent year to around $948 million. This reflects the combined effects of net earnings and other comprehensive income components on total recognized earnings.