Item 6. Selected Financial Data.

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Item 6. Selected Financial Data.

The following selected consolidated financial information for 2020, 2019 and 2018 has been obtained from our Consolidated Financial Statements. The selected historical statement of income data for the fiscal year ended December 31, 2017 has been derived from our audited consolidated financial statements included in Form 8-K filed September 25, 2020. The selected historical statement of income data for the fiscal year ended December 31, 2016 and balance sheet data as of December 31, 2017 and 2016, have not been recast for discontinued operations, are unaudited and have been derived from our accounting records. The information below is not necessarily indicative of the results of future operations and should be read in conjunction with the consolidated financial statements, related notes, and other financial information included therein.


(millions, except per share amounts)	2020 (1)		2019 (2)		2018 (3)		2017 (4)		2016 (5)
Year ended December 31:
Net sales		$11,790.2		$12,562.0		$12,222.1		$11,531.1		$13,151.8
Operating income		1,395.7		1,845.2		1,728.3		1,747.3		1,870.2
Net income from continuing operations attributable to Ecolab		967.4		1,425.6		1,250.3		1,352.3
Net (loss) income from discontinued operations, net of tax		(2,172.5)		133.3		178.8		152.3
Net (loss) income attributable to Ecolab		(1,205.1)		1,558.9		1,429.1		1,504.6		1,229.0
Basic earnings (loss) per share:
Continuing operations		3.37		4.95		4.33		4.67
Discontinued operations		(7.57)		0.46		0.62		0.53
Earnings (loss) attributable to Ecolab		(4.20)		5.41		4.95		5.20		4.20
Diluted earnings (loss) per share, as reported (U.S. GAAP):
Continuing operations		3.33		4.87		4.27		4.60
Discontinued operations		(7.48)		0.46		0.61		0.52
Earnings (loss) attributable to Ecolab		(4.15)		5.33		4.88		5.12		4.14
Cash dividends declared per common share		1.89		1.85		1.69		1.52		1.42

Diluted earnings per share from continuing operations, as reported (U.S. GAAP)
Adjustments:		$3.33		$4.87		$4.27		$4.60		$4.14
Special (gains) and charges		0.88		0.45		0.30		0.14		0.21
Discrete tax expense (benefits)		(0.19)		(0.20)		0.01		(0.64)		0.01
Adjusted diluted earnings per share from continuing operations (Non-GAAP)		$4.02		$5.12		$4.58		$4.10		$4.37

At December 31:
Total assets		$18,126.0		$20,869.1		$20,074.5		$19,963.5		$18,331.1
Current assets of discontinued operations		-		950.8		990.2
Long-term assets of discontinued operations		-		3,332.8		3,341.1
Long-term debt (excluding portions due within one year)		6,669.3		5,973.1		6,301.5		6,758.3		6,145.7

Selected financial data for 2016 is not presented on a comparable basis as it has not been recast for discontinued_._ Per share amounts do not necessarily sum due to rounding.

(1) Special (gains) and charges for 2020 include the following charges net of tax, debt refinancing charges of $64.0, restructuring charges of $60.6, disposal and impairment charges of $41.5, charges for pay protection for certain employees impacted by COVID-19 net of government subsidies of $27.4, acquisition and integration charges of $10.6 and litigation and other charges of $50.0.

Discrete tax expense (benefits) for 2020 primarily include benefits associated with share-based compensation excess tax benefits of $(57.3), favorable adjustments due to the reduction of income tax reserves for uncertain tax positions of $(9.8) and expense related to the filing of prior year tax returns and other adjustments of $11.3.

(2) Special (gains) and charges for 2019 include the following charges net of tax, net restructuring charges of $88.7, pension settlement and curtailment charges associated with ChampionX separation of $6.4, acquisition and integration charges of $9.9 and litigation and other charges of $23.3.

Discrete tax expense (benefits) for 2019 include benefits associated with share-based compensation excess tax benefits of $(43.1), favorable adjustments to the estimate for U.S. tax reform one-time repatriation tax benefit of $(3.1) and other tax net benefits of $(11.5).

(3) Special (gains) and charges for 2018 include the following charges net of tax, a commitment to the Ecolab Foundation of $18.9, net restructuring charges of $61.9, acquisition and integration charges of $5.7 and litigation and other charges of $2.3.

Discrete tax expense (benefits) for 2018 include adjustments to the estimate for U.S. tax reform one-time repatriation tax expense of $66.0, benefits associated with share-based compensation excess tax benefits of $(27.7), a favorable adjustment related to changes in estimates and an IRS approved method change in our filed U.S. federal tax returns of $(39.9) and other tax expense of $3.7.

(4) Special (gains) and charges for 2017 include the following charges net of tax, acquisition and integration charges of $18.5, net restructuring charges of $32.3, and charges on extinguished debt of $13.6. Gains, net of tax, include gain on sale of Equipment Care of $(12.4), tax benefits on the repatriation of cash to the U.S. of $(7.8) and a net gain of $(2.5) from other activity.

Discrete tax expense (benefits) for 2017 include a net benefit of $(158.9) for repricing of U.S. deferred tax positions to the U.S. tax reform rate and share-based compensation excess tax benefits of $(39.5). Expenses include recognizing adjustments from filing our 2016 U.S. federal income tax return and release of uncertain tax positions totaling $9.8 and other charges of $0.2.

(5) Special (gains) and charges for 2016 include net of tax, charges of $50.0 associated with the downturn in the global energy market and litigation related charges of $26.4. Gains, net of tax, include a net gain for restructuring and a net gain for other activity of $(3.2).

Discrete tax expense (benefits) for 2016 include net expense of $3.9 driven primarily from adjustments to deferred tax asset and liability positions, recognizing adjustments from filing our 2015 U.S. federal income tax return, tax charges related to optimizing our business structure and settlement of international tax matters offset by benefits driven primarily by the release of reserves for uncertain tax positions due to expiration of statute of limitations in non-U.S. jurisdictions, settlement of international tax matters, remeasurements of certain deferred tax assets and liabilities resulting from the application of an updated tax rate in an international jurisdiction and valuation allowance releases.

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