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Item 6. Selected Financial Data

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Item 6. Selected Financial Data

The following table presents selected consolidated financial data that should be read in conjunction with our “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Consolidated Financial Statements and accompanying notes included herein. Our consolidated financial information may not be indicative of our future performance. As described in Note 1 of the Notes to the Consolidated Financial Statements, the Company retrospectively reclassified prior year’s balances to reflect the balance sheet presentation of deferred debt issuance costs and deferred taxes in accordance with recent accounting standards, which impacted the financial condition section below.

(dollars and shares in millions, except per share data)20152014201320122011
Operations
Net sales$5,568.7$5,345.5$4,614.7$4,292.1$3,939.8
Net income attributable to Amphenol Corporation763.5(1)709.1(2)635.7(3)555.3(4)524.2(5)
Net income per common share—Diluted2.41(1)2.21(2)1.96(3)1.69(4)1.53(5)
Financial Condition
Cash, cash equivalents and short-term investments$1,760.4(6)$1,329.6$1,192.2$942.5$648.9
Working capital2,841.62,406.61,510.61,782.01,504.1
Total assets7,458.46,985.96,150.15,203.14,438.1
Long-term debt, including current portion2,813.52,656.22,122.21,695.61,367.6
Shareholders’ equity attributable to Amphenol Corporation3,238.52,907.42,859.52,430.02,171.8
Weighted average shares outstanding—Diluted316.5320.4324.5327.9343.7
Cash dividends declared per share$0.53$0.45$0.305$0.21$0.03

(1) Includes acquisition-related expenses of $5.7 ($5.7 after-tax), or $0.02 per share, relating to acquisitions announced and closed in 2015. Net income per common share-diluted for the year ended December 31, 2015, excluding the effect of this item is $2.43.

(2) Includes (a) acquisition-related expenses of $4.3 ($4.1 after-tax) relating to 2014 acquisitions and (b) $9.8 ($6.2 after-tax) relating to the acquired backlogs of completed acquisitions for an aggregate impact of $0.04 per share. Net income per common share-diluted for the year ended December 31, 2014, excluding the effect of these items is $2.25.

(3) Includes (a) acquisition-related expenses of $6.0 ($4.6 after tax) or $0.01 per share, relating to 2013 acquisitions, (b) $3.6, or $0.01 per share, income tax benefit due primarily to the favorable completion of prior year audits, and (c) an income tax benefit of $11.3, or $0.03 per share, resulting from the delay, by the U.S. government, in the reinstatement of certain federal income tax provisions for the year 2012 relating primarily to research and development credits and certain U.S. taxes on foreign income. Such tax provisions were reinstated on January 2, 2013 with retroactive effect to 2012. Under U.S. GAAP, the benefit to the Company of $11.3, or $0.03 per share, relating to the 2012 tax year was recorded as a benefit in the first quarter of 2013 at the date of reinstatement. Net income per common share-diluted for the year ended December 31, 2013, excluding the effect of these items is $1.93.

(4) Includes (a) acquisition-related expenses of $2.0 ($2.0 after tax) or $0.01 per share, relating to 2012 acquisitions and (b) income tax costs of $11.3, or $0.03 per share, relating to a delay, by the U.S. government, in the reinstatement of certain federal income tax provisions for the year 2012 relating primarily to research and development credits and certain U.S. taxes on foreign income. Such tax provisions were reinstated on January 2, 2013 with retroactive effect to 2012. Net income per common share-diluted for the year ended December 31, 2012, excluding the effect of these items is $1.73.

(5) Includes (a) a tax benefit related to reserve adjustments from the favorable settlement of certain international tax positions and the completion of prior year audits of $4.5, or $0.01 per share, (b) a contingent payment adjustment of approximately $17.8 ($11.2 after tax) or $0.03 per share, (c) a charge for expenses incurred in connection with a flood at the Company’s Sidney, New York facility of $21.5 ($13.6 after tax) or $0.04 per share and (d) acquisition-related expenses of $2.0 ($1.8 after tax) relating to 2011 acquisitions. Net income per common share-diluted for the year ended December 31, 2011, excluding the effect of these items is $1.53.

(6) On January 8, 2016, the Company used approximately $1,179, net of cash acquired, of its cash, cash equivalents and short-term investments to fund the acquisition of FCI.

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