Comprehensive income disclosure (the case of US companies)

Figures & data

Table 1. Data definitions

Data	Source
Earnings ($NI$), Dividends ($DVC$), Preference Dividends ($DVP$), Book Value, $B_t$, ($CEQ$) and Retained Earnings ($RE$)	As defined by Compustat annual data item numbers A172, A21 A60, and A36 respectively. Sources: Compustat tapes: 1995–2014.
Other Comprehensive Income	$\mathrm{\Delta }RE-(NI-DVC-DVP$)
Comprehensive Income	$NI+\mathrm{\Delta }RE-(NI-DVC-DVP$)

Figure 1. Industrial classification of sample firms.

Figure 2. Sample companies’ CI reporting formats, 1999.

Figure 3. Presentation format and nature of OCI, 1999.

Table 2. Analysis of OCI components

	1997				1998				1999
	FCA	MPL	UGL	CI	FCA	MPA	UGL	CI	FCA	MPL	UGL	CI
Negative amount	$68	$20	$21	$70	$56	$31	$25	$63	$65	$11	$20	$63
Positive amount	09	11	25	20	20	3	23	30	14	22	27	30
Not reported	23	69	54	10	24	66	52	7	21	67	53	7
Total	100	100	100	100	100	100	100	100	100	100	100	100
Average (millions)	($242)	$4	$46	($192)	($8)	($40)	$3	($45)	($165)	$70	$50	($45)

Note. FCA = foreign currency translations; MPL = minimum pension liability; UGL = unrealised gains and losses on available-for-sale security; and CI = comprehensive income.

Figure 4. Negative impact on EPS.

Figure 5. Positive impact on EPS.

Table 3. Largest effects of Other Comprehensive Income (OCI)

Negatively affected:	EPS (NI)	EPS (CI)	Change
Bank of Montreal	4.76	1.7	−64%
Wal-Mart Store Inc.	0.99	0.58	−41
International paper	0.44	−0.39	−189
Champion International	2.43	−0.17	−107
Positively affected:
Delta Air Lines Inc.	7.63	8.05	6%
CISCO System Inc.	0.65	0.73	12

Figure 6. Accumulated other comprehensive income by individual companies.

Figure 6. (Continued).