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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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2010
- Total Asset Turnover since 2010
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General Motors Co., consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The statement of comprehensive income reveals fluctuating performance over the five-year period. While net income initially remained relatively stable, a significant decline is observed in later years. Comprehensive income mirrors this trend, exhibiting a substantial decrease from 2021 to 2025. Several components contribute to these overall patterns, warranting further examination.
- Net Income Trend
- Net income demonstrated stability between 2021 and 2023, fluctuating around the US$9.8 billion mark. However, a marked decrease occurred in 2024, falling to US$5.963 billion, and continued downward in 2025 to US$2.780 billion. This represents a considerable contraction in profitability over the latter part of the period.
- Comprehensive Income Components
- Foreign currency translation adjustments and other items exhibited volatility, moving from a gain of US$80 million in 2021 to a loss of US$340 million in 2022, then recovering to a gain of US$457 million in 2023 before experiencing a substantial loss of US$1,218 million in 2024 and a smaller gain of US$459 million in 2025. This suggests exposure to significant currency fluctuations.
- Defined benefit plans showed a considerable shift from substantial gains in 2021 and 2022 (US$4,126 million and US$1,677 million respectively) to significant losses in 2023 (US$2,813 million) and a minor loss in 2024 (US$4 million), followed by a modest gain in 2025 (US$339 million). This indicates changes in plan liabilities or actuarial assumptions.
- Unrealized gains on hedges were initially absent but grew steadily from US$1 million in 2023 to US$155 million in 2025, suggesting an increasing use of hedging activities and their positive impact.
- Other comprehensive income (loss), net of tax, followed a pattern of gain, gain, loss, loss, gain, mirroring the overall volatility observed in the statement. The largest loss occurred in 2023 at US$2,355 million.
- Attribution of Comprehensive Income
- Comprehensive income attributable to noncontrolling interests was generally positive, but decreased to a negative value in 2025 (US$-126 million). This suggests a shift in the performance of entities in which the company does not hold a controlling stake.
- Comprehensive income attributable to stockholders closely follows the trend of total comprehensive income, declining from US$14.238 billion in 2021 to US$3.607 billion in 2025. This indicates that the declining comprehensive income is primarily impacting the stockholders.
In summary, the company experienced a decline in both net income and comprehensive income over the analyzed period, particularly from 2024 onwards. This decline is influenced by fluctuations in foreign currency translation, defined benefit plan adjustments, and other comprehensive income components. While hedging activities appear to be increasing, they have not been sufficient to offset the overall negative trends.