Item 6. SELECTED CONSOLIDATED FINANCIAL DATA

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Item 6. SELECTED CONSOLIDATED FINANCIAL DATA

The following selected consolidated financial data should be read in conjunction with the consolidated financial statements and accompanying notes and Management’s Discussion and Analysis of Financial Condition and Results of Operations.



	Fiscal Year
	2019		2018			2017 2		2016 2			2015
	(in thousands, except per share data)
Statement of Operations Data:
Net revenues	$	2,406,796	$	1,966,492		$	1,473,413	$	1,079,874		$	845,486
Gross profit	1,743,897		1,447,867			1,116,947		815,294			640,110
Income from operations	542,493		466,564			353,611		248,921			188,634
Interest income	12,482		8,576			6,948		4,213			2,938
Other income (expense), net	7,676		(8,489		)	4,240		(10,568		)	(5,471		)
Net income before provision for income taxes and equity in losses of investee	562,651		466,651			364,799		242,566			186,101
Provision for income taxes	112,347		57,723			130,162		51,200			42,081
Equity in losses of investee, net of tax	7,528		8,693			3,219		1,684			—
Net income	$	442,776	$	400,235		$	231,418	$	189,682		$	144,020
Net income per share:
Basic	$	5.57	$	5.00		$	2.89	$	2.38		$	1.80
Diluted	$	5.53	$	4.92		$	2.83	$	2.33		$	1.77
Shares used in computing net income per share:
Basic	79,424		80,064			80,085		79,856			79,998
Diluted	80,100		81,357			81,832		81,484			81,521
Financial Position Data:
Working capital 1	$	662,449	$	610,406		$	658,316	$	597,772		$	460,338
Total assets	2,500,702		2,052,458			1,784,009		1,402,305			1,158,633
Total long-term liabilities	183,563		107,494			129,670		46,427			39,035
Stockholders’ equity	$	1,346,169	$	1,252,891		$	1,154,288	$	999,307		$	847,926


1	Working capital is calculated as the difference between total current assets and total current liabilities.


2	Balances have been recast to reflect the adoption of ASC 606. We recognized a $3.9 million cumulative effect upon adoption as an adjustment to our opening balance of retained earnings as of January 1, 2016 in our Consolidated Statements of Stockholders’ Equity. Refer to Note 1 "Summary of Significant Accounting Policies" of the Notes to Consolidated Financial Statements for details).

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