filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
Our selected consolidated financial data shown below should be read together with Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and respective notes included in Item 8 “Financial Statements and Supplementary Data.” The data shown below are not necessarily indicative of results to be expected for any future period (in thousands, except per share data).
| Year ended December 31, | ||||||||||||||
| 2015 | 2014 | 2013 | 2012 | 2011 | ||||||||||
| Statement of Income: | ||||||||||||||
| Revenue | $ | 4,501,223 | $ | 4,108,269 | $ | 3,214,591 | $ | 2,731,224 | $ | 2,269,548 | ||||
| Food, beverage and packaging costs | 1,503,835 | 1,420,994 | 1,073,514 | 891,003 | 738,720 | |||||||||
| Labor costs | 1,045,726 | 904,407 | 739,800 | 641,836 | 543,119 | |||||||||
| Occupancy costs | 262,412 | 230,868 | 199,107 | 171,435 | 147,274 | |||||||||
| Other operating costs | 514,963 | 434,244 | 347,401 | 286,610 | 251,208 | |||||||||
| General and administrative expenses | 250,214 | 273,897 | 203,733 | 183,409 | 149,426 | |||||||||
| Depreciation and amortization | 130,368 | 110,474 | 96,054 | 84,130 | 74,938 | |||||||||
| Pre-opening costs | 16,922 | 15,609 | 15,511 | 11,909 | 8,495 | |||||||||
| Loss on disposal of assets | 13,194 | 6,976 | 6,751 | 5,027 | 5,806 | |||||||||
| Total operating expenses | 3,737,634 | 3,397,469 | 2,681,871 | 2,275,359 | 1,918,986 | |||||||||
| Income from operations | 763,589 | 710,800 | 532,720 | 455,865 | 350,562 | |||||||||
| Interest and other income (expense), net | 6,278 | 3,503 | 1,751 | 1,820 | (857) | |||||||||
| Income before income taxes | 769,867 | 714,303 | 534,471 | 457,685 | 349,705 | |||||||||
| Provision for income taxes | (294,265) | (268,929) | (207,033) | (179,685) | (134,760) | |||||||||
| Net income | $ | 475,602 | $ | 445,374 | $ | 327,438 | $ | 278,000 | $ | 214,945 | ||||
| Earnings per share | ||||||||||||||
| Basic | $ | 15.30 | $ | 14.35 | $ | 10.58 | $ | 8.82 | $ | 6.89 | ||||
| Diluted | $ | 15.10 | $ | 14.13 | $ | 10.47 | $ | 8.75 | $ | 6.76 | ||||
| Weighted average common shares outstanding | ||||||||||||||
| Basic | 31,092 | 31,038 | 30,957 | 31,513 | 31,217 | |||||||||
| Diluted | 31,494 | 31,512 | 31,281 | 31,783 | 31,775 | |||||||||
| December 31, | ||||||||||||||
| 2015 | 2014 (1) | 2013 (1) | 2012 (1) | 2011 (1) | ||||||||||
| Balance Sheet Data: | ||||||||||||||
| Total current assets | $ | 814,647 | $ | 859,511 | $ | 653,095 | $ | 537,745 | $ | 494,954 | ||||
| Total assets | $ | 2,725,066 | $ | 2,527,317 | $ | 1,996,068 | $ | 1,659,805 | $ | 1,419,070 | ||||
| Total current liabilities | $ | 279,942 | $ | 245,710 | $ | 199,228 | $ | 186,852 | $ | 157,453 | ||||
| Total liabilities | $ | 597,092 | $ | 514,948 | $ | 457,780 | $ | 413,879 | $ | 374,844 | ||||
| Total shareholders’ equity | $ | 2,127,974 | $ | 2,012,369 | $ | 1,538,288 | $ | 1,245,926 | $ | 1,044,226 |
(1) Balances were adjusted because we adopted Financial Accounting Standards Board Accounting Standards Update No. 2015-17, “Income Taxes” which requires that deferred tax liabilities and assets be classified as noncurrent in a classified balance sheet, as discussed in further detail in Note 1. “Description of the Business and Summary of Significant Accounting Policies” in our consolidated financial statements included in Item 8. “Financial Statements and Supplementary Data.”
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