in a statement that reports the results of operations, while others were
included directly in balances within a separate component of equity in a
statement of financial position.
12. If used with related disclosures and other information in the
financial statements, the information provided by reporting comprehensive
income should assist investors, creditors, and others in assessing an
enterprise's activities and the timing and magnitude of an enterprise's
future cash flows.
13. Although total comprehensive income is a useful measure, information
about the components that make up comprehensive income also is needed. A
single focus on total comprehensive income is likely to result in a limited
understanding of an enterprise's activities. Information about the
components of comprehensive income often may be more important than the
total amount of comprehensive income.
Reporting and Display of Comprehensive Income
14. All components of comprehensive income shall be reported in the
financial statements in the period in which they are recognized. A total
amount for comprehensive income shall be displayed in the financial
statement where the components of other comprehensive income are reported.
Classifications within Comprehensive Income
15. This Statement divides comprehensive income into net income and other
comprehensive income. An enterprise shall continue to display an amount
for net income. An enterprise that has no items of other comprehensive
income in any period presented is not required to report comprehensive
Classifications within Net Income
16. Items included in net income are displayed in various classifications.
Those classifications can include income from continuing operations,
discontinued operations, extraordinary items, and cumulative effects of
changes in accounting principle. This Statement does not change those
classifications or other requirements for reporting results of operations.