Item 6. Selected Financial Data

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Item 6. Selected Financial Data

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You should read the following selected consolidated financial data in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the Company’s consolidated financial statements and the related notes appearing elsewhere in this Annual Report on Form 10-K.

The following selected consolidated statements of income data for the years ended July 31, 2011, 2010 and 2009 and the consolidated balance data at July 31, 2011 and 2010, are derived from the audited consolidated financial statements appearing elsewhere in this Annual Report on Form 10-K. The following selected consolidated statements of income data for the years ended July 31, 2008 and 2007 and the consolidated balance sheet data at July 31, 2009, 2008 and 2007, are derived from the audited consolidated financial statements that are not included in this Annual Report on Form 10-K. The historical results are not necessarily indicative of the results to be expected in any future period. As a result of the adoption of Accounting Standards Update 2009–13, Revenue Arrangements with Multiple Deliverables, for the year ended July 31, 2011, we accelerated recognition of $14.4 million in service revenue and $13.5 million in related yard operation expenses.

	Fiscal Years Ending July 31,
	2011			2010			2009			2008			2007
	(in thousands, except per share and other data)
Operating Data
Revenues	$	872,246		$	772,879		$	743,082		$	784,848		$	560,680
Operating income		265,290			239,070			225,325			237,917			203,145
Income from continuing operations before income taxes		263,877			239,495			227,732			249,650			217,421
Income tax expense		(97,502	)		(87,868	)		(88,186	)		(92,718	)		(81,083	)
Income from continuing operations		166,375			151,627			139,546			156,932			136,338
Income from discontinued operations, net of income tax effects		—			—			1,557			—			—
Net income		166,375			151,627			141,103			156,932			136,338
Basic per share amounts:
Income from continuing operations	$	2.20		$	1.80		$	1.67		$	1.80		$	1.50
Discontinued operations		—			—			0.02			—			—
Net income per share	$	2.20		$	1.80		$	1.69		$	1.80		$	1.50
Weighted average shares		75,649			84,165			83,537			87,412			90,651
Diluted per share amounts:
Income from continuing operations	$	2.17		$	1.78		$	1.64		$	1.75		$	1.46
Discontinued operations		—			—			0.02			—			—
Net income per share	$	2.17		$	1.78		$	1.66		$	1.75		$	1.46
Weighted average shares		76,676			85,027			84,930			89,858			93,455
Balance Sheet Data
Cash, cash equivalents and short-term investments	$	74,009		$	268,188		$	162,691		$	38,954		$	210,246
Working capital		75,242			330,191			212,349			84,501			247,850
Total assets		1,084,436			1,228,812			1,058,032			956,247			1,014,600
Total debt		375,756			975			1,457			2,240			2,793
Shareholders’ equity		555,172			1,087,234			921,459			798,996			880,866
Other Data
Number of storage facilities		153			152			147			143			131

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