filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
The following selected consolidated financial data is derived from our Consolidated Financial Statements. As our historical operating results are not necessarily indicative of future operating results, this data should be read in conjunction with the Consolidated Financial Statements and notes thereto, and with Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.
| (in thousands, except per share amounts and employee data) | Fiscal Years | ||||||||||||||||||
| 2019**(1)** | 2018 | 2017 | 2016**(3)** | 2015 | |||||||||||||||
| Operations: | |||||||||||||||||||
| Revenue: | $ | 11,171,297 | $ | 9,030,008 | $ | 7,301,505 | $ | 5,854,430 | $ | 4,795,511 | |||||||||
| Gross profit | $ | 9,498,577 | $ | 7,835,009 | $ | 6,291,014 | $ | 5,034,522 | $ | 4,051,194 | |||||||||
| Income before income taxes | $ | 3,204,741 | $ | 2,793,876 | $ | 2,137,641 | $ | 1,435,138 | $ | 873,781 | |||||||||
| Net income | $ | 2,951,458 | $ | 2,590,774 | $ | 1,693,954 | $ | 1,168,782 | $ | 629,551 | |||||||||
| Net income per share: | |||||||||||||||||||
| Basic | $ | 6.07 | $ | 5.28 | $ | 3.43 | $ | 2.35 | $ | 1.26 | |||||||||
| Diluted | $ | 6.00 | $ | 5.20 | $ | 3.38 | $ | 2.32 | $ | 1.24 | |||||||||
| Shares used to compute basic net income per share | 486,291 | 490,564 | 493,632 | 498,345 | 498,764 | ||||||||||||||
| Shares used to compute diluted net income per share | 491,572 | 497,843 | 501,123 | 504,299 | 507,164 | ||||||||||||||
| Financial position: | |||||||||||||||||||
| Cash, cash equivalents and short-term investments | $ | 4,176,976 | $ | 3,228,962 | $ | 5,819,774 | $ | 4,761,300 | $ | 3,988,084 | |||||||||
| Working capital(2) | $ | (1,696,013 | ) | $ | 555,913 | $ | 3,720,356 | $ | 3,028,139 | $ | 2,608,336 | ||||||||
| Total assets | $ | 20,762,400 | $ | 18,768,682 | $ | 14,535,556 | $ | 12,697,246 | $ | 11,714,500 | |||||||||
| Debt, current | $ | 3,149,343 | $ | — | $ | — | $ | — | $ | — | |||||||||
| Debt, non-current | $ | 988,924 | $ | 4,124,800 | $ | 1,881,421 | $ | 1,892,200 | $ | 1,895,259 | |||||||||
| Stockholders’ equity | $ | 10,530,155 | $ | 9,362,114 | $ | 8,459,869 | $ | 7,424,835 | $ | 7,001,580 | |||||||||
| Additional data: | |||||||||||||||||||
| Worldwide employees | 22,634 | 21,357 | 17,973 | 15,706 | 13,893 |
| (1) | On December 1, 2018, the beginning of our fiscal year 2019, we adopted the requirements of the Financial Accounting Standards Board’s Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, Topic 606, utilizing the modified retrospective method of transition. Prior period information has not been restated and continues to be reported under the accounting standard in effect for those periods. |
| (2) | As of November 29, 2019, working capital was in a deficit primarily due to the reclassification of our $2.25 billion term loan due April 30, 2020 and $900 million 4.75% senior notes due February 1, 2020 to current liabilities. We intend to refinance our Term Loan and 2020 Notes on or before the due dates. |
| (3) | Our fiscal year is a 52- or 53-week year that ends on the Friday closest to November 30. Fiscal 2016 was a 53-week fiscal year compared with the other periods presented which were 52-week fiscal years. |
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