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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- Income Statement
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Price to FCFE (P/FCFE)
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
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Johnson Controls International plc, consolidated statement of comprehensive income
US$ in millions
Based on: 10-K (reporting date: 2023-09-30), 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).
The financial data reveals several notable trends over the fiscal years ending September 30 from 2018 through 2023. Net income exhibits significant volatility, showing a sharp increase from $2,383 million in 2018 to a peak of $5,887 million in 2019, followed by a steep decline to $795 million in 2020. Subsequent years see a recovery with net income rising to $1,870 million in 2021 and stabilizing around the $1,700–2,000 million range through 2023.
Foreign currency translation adjustments demonstrate considerable fluctuation, with negative impacts in most years except for a positive adjustment of $376 million in 2021 and a slight positive effect of $25 million in 2020. The largest negative adjustment is recorded in 2022 at -$603 million, reflecting exchange rate challenges or operational exposures abroad that adversely affected comprehensive results.
Realized and unrealized gains or losses on derivatives remain relatively minor in scale, oscillating between small gains and losses with no clear directional trend. The values range narrowly, ending positively at $25 million in 2023. Gains on marketable securities are only recorded in 2018, suggesting minimal activity or recognition in this category in subsequent years.
Entries related to pension and postretirement plans show minimal but inconsistent impacts, fluctuating modestly between negative and positive figures from -$6 million in 2019 to $8 million in 2020 and tapering down to -$1 million by 2023, indicating generally stable but minor adjustments in these liabilities or expenses.
Other comprehensive income parallels the trends in foreign currency translation adjustments, recording significant negative values in 2018, 2019, and again in 2022 and 2023. The years 2020 and 2021 reflect positive comprehensive income, corresponding to favorable currency translation and other comprehensive income items during that period.
Comprehensive income shows a pattern consistent with net income but adjusted for other comprehensive gains and losses. It peaks notably in 2019 at $5,545 million, dips significantly in 2020 to $836 million, and recovers to $2,232 million in 2021 before declining again in 2022 and then modestly improving in 2023.
The comprehensive income attributable to noncontrolling interests remains consistently negative, indicating losses or reductions attributable to minority shareholders throughout the period, with the least negative figure in 2022 (-$69 million) and the most negative in 2021 (-$253 million). This results in comprehensive income attributable to Johnson Controls International plc being lower than total comprehensive income but following similar trend movements.
Overall, the data suggests a company experiencing considerable earnings and currency translation volatility over the six-year period, with net income and comprehensive income both strongly impacted by external factors such as market conditions and exchange rate fluctuations. The significant income decline in 2020 may be attributed to extraordinary circumstances, with a gradual recovery in following years. Exposure to foreign currency risk appears to be a key variable affecting comprehensive income trends.