Stock Analysis on Net

Adobe Inc. (NASDAQ:ADBE)

$24.99

Statement of Comprehensive Income

Adobe Inc., consolidated statement of comprehensive income

US$ in millions

Microsoft Excel
12 months ended: Nov 28, 2025 Nov 29, 2024 Dec 1, 2023 Dec 2, 2022 Dec 3, 2021 Nov 27, 2020
Net income
Unrealized gains (losses) on available-for-sale securities
Reclassification adjustment for recognized (gains) losses on available-for-sale securities
Net increase (decrease) from available-for-sale securities
Unrealized gains (losses) on derivative instruments
Reclassification adjustment for realized (gains) losses on derivative instruments
Net increase (decrease) from derivatives designated as hedging instruments
Foreign currency translation adjustments
Other comprehensive income (loss), net of taxes
Comprehensive income, net of taxes

Based on: 10-K (reporting date: 2025-11-28), 10-K (reporting date: 2024-11-29), 10-K (reporting date: 2023-12-01), 10-K (reporting date: 2022-12-02), 10-K (reporting date: 2021-12-03), 10-K (reporting date: 2020-11-27).


The statement of comprehensive income reveals fluctuating performance across several components over the six-year period. Net income generally increased, with a notable surge in the most recent two years, while other comprehensive income exhibited significant volatility. Overall, comprehensive income mirrors the trend in net income, demonstrating growth in later periods.

Net Income
Net income experienced a slight decrease from 2020 to 2021, followed by relative stability between 2021 and 2023. A substantial increase is observed in 2024 and 2025, reaching 7,130 US$ millions. This suggests improved operational performance or favorable market conditions in the latter years.
Available-for-Sale Securities
The net increase (decrease) from available-for-sale securities demonstrates considerable fluctuation. Significant decreases occurred in 2021, 2022, and a smaller decrease in 2023, while positive increases were recorded in 2020, 2024, and 2025. Unrealized gains and losses on these securities, along with reclassification adjustments, contribute to this volatility. The reclassification adjustments are relatively small compared to the unrealized gains/losses, except for 2022 where a large negative adjustment was recorded.
Derivative Instruments
Net changes from derivatives designated as hedging instruments were highly variable. A large negative impact was seen in 2020, followed by a strong positive impact in 2021. Subsequent years show a mix of gains and losses, with a substantial loss in 2025. Unrealized gains/losses on derivative instruments are the primary driver of this volatility, with reclassification adjustments having a smaller, but present, effect. The 2024 value shows a significant positive impact from derivatives.
Foreign Currency Translation Adjustments
Foreign currency translation adjustments exhibited substantial swings. A significant positive adjustment occurred in 2020, followed by negative adjustments in 2021, 2022, and 2024. A strong positive adjustment is observed in 2025, indicating a potential shift in the impact of exchange rate fluctuations. These adjustments contribute significantly to the overall volatility of other comprehensive income.
Other Comprehensive Income
Other comprehensive income (loss), net of taxes, was highly volatile, largely driven by the fluctuations in available-for-sale securities, derivative instruments, and foreign currency translation adjustments. A significant loss was recorded in 2022, followed by a recovery in 2024, and then a loss in 2025. This component significantly impacts the overall comprehensive income.
Comprehensive Income
Comprehensive income generally followed the trend of net income, with a slight decrease from 2020 to 2021, relative stability until 2023, and then substantial growth in 2024 and 2025. The volatility in other comprehensive income introduces fluctuations to the overall comprehensive income, but the net income trend appears to be the dominant factor in the long-term growth.