---
title: "How does LUSID calculate P&L?"
slug: "how-does-lusid-calculate-pl"
tags: ["PnL", "profit and loss"]
updated: 2026-05-20T16:08:48Z
published: 2026-05-20T16:08:48Z
canonical: "support.lusid.com/how-does-lusid-calculate-pl"
---

> ## Documentation Index
> Fetch the complete documentation index at: https://support.lusid.com/llms.txt
> Use this file to discover all available pages before exploring further.

# How does LUSID calculate P&L?

LUSID calculates profit and loss (P&L) as the difference between [present value](/v1/docs/how-does-lusid-calculate-pv) (PV) and [holding cost](/v1/docs/how-is-cost-calculated-in-lusid) at the start and again at the end of a *window*.

The end date of the window is always the *effective at* datetime of the request to [perform a valuation](/v1/docs/how-do-i-perform-a-valuation). The start date of the window is configurable, and can either be the beginning of the current day, week, month, quarter or year, or an arbitrary point in time. [More information](/v1/docs/specifying-a-pnl-window-and-other-metric-options).

LUSID reports total P&L using the following top-level [metrics](/v1/docs/what-is-a-metric):

- `ProfitAndLoss/Total` This is total gain/loss in holding (instrument) currency, originating from both price movements and income (carry activity, amortization and accrual).
- `ProfitAndLoss/Total/PortfolioCcy` This is total gain/loss converted to portfolio currency, and so includes FX gain/loss from exchange rate fluctuations between holding and portfolio currencies, where applicable.

> **Note**: P&L metrics can either calculate an absolute amount, or a percentage. [More information](/v1/docs/specifying-a-pnl-window-and-other-metric-options).

You can decompose these total P&L calculations using one of two methodologies. Either:

1. [Realized and unrealized gain/loss](/v1/docs/decomposing-total-pnl-into-realised-and-delta-unrealised), or
2. [Holding and trading gain/loss](/v1/docs/decomposing-total-pnl-into-holding-and-trading-gain-loss)

Note these are different methodologies and not intended to be mixed in the same valuation report.

> **Note**: P&L metrics report holdings that have closed during the window and would otherwise not appear in valuation reports. This includes unsettled cash positions, aggregated up to one per currency.