Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

FIVE-YEAR SELECTED FINANCIAL DATA

(in millions, except per share data)

Operating Data


Year Ended December 31,	2020		2019		2018		2017		2016
Net sales	$	9,913	$	10,735	$	9,823	$	9,048	$	8,386
Gross profit	6,448		7,620		7,011		6,455		5,962
Total operating expenses	6,528		6,102		5,504		5,170		5,515
Operating income (loss)	(80)		1,518		1,506		1,285		447
Income (loss) before income taxes	(79)		687		1,422		933		177
Net income (loss)	(82)		4,700		1,671		104		347
Net income (loss) available to common stockholders	(115)		4,700		1,671		104		347
Net income (loss) per common share:
Basic	$	(0.08)	$	3.38	$	1.21	$	0.08	$	0.26
Assuming dilution	$	(0.08)	$	3.33	$	1.19	$	0.08	$	0.25

Balance Sheet Data


As of December 31,	2020		2019		2018		2017		2016
Cash, cash equivalents and marketable securities	$	1,734	$	217	$	146	$	188	$	196
Working capital (deficit)	3,013		(168)		(1,257)		(1,832)		(348)
Total assets	30,777		30,565		20,999		19,042		18,096
Borrowings (short-term)	13		1,416		2,253		1,801		64
Borrowings (long-term)	9,130		8,592		4,803		3,815		5,420
Stockholders’ equity	15,326		13,877		8,726		7,012		6,733

The data above should be read in conjunction with our consolidated financial statements, including the notes thereto, included in Item 8. Financial Statements and Supplementary Data of our Annual Report on Form 10-K.

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