Item 6. Selected Financial Data

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Item 6. Selected Financial Data

The following selected consolidated financial data should be read in conjunction with our “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Part II, Item 7. of this 10-K, and “Financial Statements and Supplementary Data” in Part II, Item 8 of this 10-K. Our historical results of operations are not necessarily indicative of results of operations to be expected for any future period.



	Fiscal Year Ended July 31,
	2015		2014		2013		2012		2011*
(In thousands, except per share)
Operating Data
Revenues	$	1,146,079	$	1,163,489	$	1,046,386	$	924,191	$	872,246
Operating income	344,401		274,934		282,992		286,353		265,290
Income before income taxes	332,069		270,035		276,872		278,056		263,877
Income taxes	112,286		91,348		96,847		95,937		97,502
Net income	$	219,783	$	178,687	$	180,025	$	182,119	$	166,375
Basic net income per common share	$	1.75	$	1.42	$	1.44	$	1.42	$	1.10
Weighted average common shares outstanding	125,914		125,693		124,912		128,120		151,298
Diluted net income per common share	$	1.67	$	1.36	$	1.39	$	1.39	$	1.08
Diluted weighted average common shares outstanding	131,425		131,230		129,781		131,428		153,352

Balance Sheet Data
Cash and cash equivalents	$	456,012	$	158,668	$	63,631	$	140,112	$	74,009
Working capital	521,456		168,007		67,893		134,908		75,242
Total assets	1,799,952		1,506,804		1,334,481		1,154,000		1,084,436
Total debt	645,806		302,901		372,457		444,120		375,756
Stockholders’ equity	964,464		1,003,499		762,401		561,117		555,172


*	As a result of the adoption of Accounting Standards Update 2009–13, Revenue Arrangements with Multiple Deliverables, for fiscal 2011, we accelerated recognition of $14.4 million in service revenue and $13.5 million in related yard operation expenses.

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