filings.toolsItem 6. Selected Financial Data
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Item 6. Selected Financial Data
The following selected financial data is derived from our Consolidated Financial Statements and should be read in conjunction with our Consolidated Financial Statements, the accompanying Notes to the Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations included in this Annual Report on Form 10-K.
| Years Ended June 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in millions, except for per share amounts) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Statements of Earnings Data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenues (a) | $ | 4,529.0 | $ | 4,362.2 | $ | 4,329.9 | $ | 4,142.6 | $ | 2,897.0 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Operating income (a) | 624.9 | 652.7 | 598.1 | 534.0 | 502.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings before income taxes (a) | 579.5 | 607.3 | 561.0 | 488.1 | 468.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net earnings (a) | 462.5 | 482.1 | 427.9 | 326.8 | 307.5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basic earnings per share (a) | $ | 4.03 | $ | 4.16 | $ | 3.66 | $ | 2.77 | $ | 2.60 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Diluted earnings per share (a) | $ | 3.95 | $ | 4.06 | $ | 3.56 | $ | 2.70 | $ | 2.53 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Basic Weighted-average shares outstanding | 114.7 | 115.9 | 116.8 | 118.0 | 118.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Diluted Weighted-average shares outstanding | 117.0 | 118.8 | 120.4 | 120.8 | 121.6 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash dividends declared per common share | $ | 2.16 | $ | 1.94 | $ | 1.46 | $ | 1.32 | $ | 1.20 |
| June 30, | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (in millions) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balance Sheet Data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 476.6 | $ | 273.2 | $ | 263.9 | $ | 271.1 | $ | 727.7 | |||||||||||||||||||||||||||||||||||||||||||||||||
| Total current assets (a) | 1,328.0 | 1,042.3 | 991.1 | 989.6 | 1,289.1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, plant and equipment, net | 161.6 | 189.0 | 204.1 | 198.1 | 112.2 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total assets (a)(b) | 4,889.8 | 3,880.7 | 3,304.7 | 3,149.8 | 2,872.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total current liabilities (a)(b) | 1,341.0 | 802.6 | 777.3 | 744.9 | 692.9 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-term debt, excluding current portion | 1,387.6 | 1,470.4 | 1,053.4 | 1,102.1 | 890.7 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total liabilities (a)(b) | 3,543.2 | 2,753.2 | 2,210.4 | 2,146.0 | 1,827.3 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Total stockholders’ equity (a)(b) | 1,346.5 | 1,127.5 | 1,094.3 | 1,003.8 | 1,045.5 |
(a)The Company adopted ASU No. 2014-09 on July 1, 2018, using the modified retrospective transition method with the cumulative effect of initially applying ASU No. 2014-09 recognized at the date of initial application. Accordingly, financial statement periods prior to July 1, 2018 have not been restated for the effects of ASU No. 2014-09. See Note 2, “Summary of Significant Accounting Policies”, and Note 3, “Revenue Recognition” to our Consolidated Financial Statements under Item 8 of Part II of this Annual Report on Form 10-K for details of the Company’s adoption of ASU No. 2014-09.
(b)The Company adopted ASU No. 2016-02 “Leases”, as amended, on July 1, 2019, by recognizing a right-of-use (“ROU”) asset and corresponding lease liability, along with a cumulative-effect adjustment to the opening balance of retained earnings, in the period of adoption. The adoption of ASU No. 2016-02, as amended, did not have a material impact on the Consolidated Statements of Earnings, the Consolidated Statements of Comprehensive Income, the Consolidated Statements of Cash Flows, or the Consolidated Statements of Stockholders’ Equity. Under this method of adoption, the Company has not restated the prior period Consolidated Financial Statements presented to the current period presentation. See Note 2, “Summary of Significant Accounting Policies”, and Note 8, “Leases” in our Consolidated Financial Statements under Item 8 of Part II of this Annual Report on Form 10-K for details of the Company’s adoption of ASU No. 2016-02, as amended.
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