---
title: "How does LUSID calculate P&L?"
slug: "how-does-lusid-calculate-pl"
tags: ["PnL", "profit and loss"]
updated: 2026-10-07T11:04:37Z
published: 2026-10-07T11:04:37Z
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) for a holding 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 in holding currency converted to portfolio currency, and so includes FX gain/loss from exchange rate fluctuations between holding and portfolio currencies, where applicable. FX rates from holding to portfolio currency are required for the trade date of each contributing transaction and the valuation date.
- `ProfitAndLoss/Total/ReportCcy` This is total gain/loss in holding currency converted to report currency [when specified in a valuation request](/v1/docs/how-do-i-perform-a-valuation#data-fields). A FX rate from holding to report currency is required for the valuation date. Note this is a naive calculation compared to that for portfolio currency and may report different results.

> **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 methodologies are designed for different use cases and are 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.