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The following is from the 2024 annual report of Kaufman Chemicals, Incorporated: Statements of Comprehensive Income Years Ended December 31 2024 2023 2022 Net income
The following is from the 2024 annual report of Kaufman Chemicals, Incorporated:
Statements of Comprehensive Income | Years Ended December 31 | ||
---|---|---|---|
2024 | 2023 | 2022 | |
Net income | $ 856 | $ 686 | $ 541 |
Other comprehensive income: | |||
Change in net unrealized gains on AFS investments, net of tax of $18, ($16), and $16 in 2024, 2023, and 2022, respectively | 30 | (24) | 26 |
Other | (3) | (2) | 2 |
Total comprehensive income | $ 883 | $ 660 | $ 569 |
Kaufman reports accumulated other comprehensive income in its balance sheet as a component of shareholders' equity as follows:
($ in millions) | 2024 | 2023 |
---|---|---|
Shareholders equity: | ||
Common stock | $ 330 | $ 330 |
Additional paid-in capital | 8,171 | 8,171 |
Retained earnings | 7,251 | 6,695 |
Accumulated other comprehensive income | 99 | 72 |
Total shareholders equity | $ 15,851 | $ 15,268 |
Required:
3. From the information provided, determine how Kaufman calculated the $99 million accumulated other comprehensive income in 2024.
Note: Negative amount should be indicated by a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).
| ($ in millions) |
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Accumulated other comprehensive income, 2024 | $99 |
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