Item 6. Selected Financial Data

4K characters. Original on sec.gov · Markdown

Item 6. Selected Financial Data

The following table presents selected financial data and should be read in conjunction with the financial statements and notes thereto included in Item 8, “Financial Statements and Supplementary Data” and Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Form 10-K (amounts in thousands, except share and per share data).



	For the Year Ended December 31,
	2017		2016		2015		2014		2013
Operating Data:
Total revenues	$	1,105,009	$	991,875	$	782,270	$	647,155	$	520,613
Income from operations (1)	$	541,605	$	449,838	$	294,656	$	278,468	$	213,483
Earnings per share basic	$	3.79	$	2.92	$	1.58	$	1.54	$	1.54
Earnings per share diluted	$	3.76	$	2.91	$	1.56	$	1.53	$	1.53
Cash dividends paid per common share	$	3.12	$	2.93	$	2.24	$	1.81	$	1.45
Other Data:
Acquisitions - wholly owned	$	627,462	$	1,086,645	$	1,606,509	$	563,670	$	704,449
Acquisitions - investment in joint ventures	15,094		34,199		21,529		—		—
Total	$	642,556	$	1,120,844	$	1,628,038	$	563,670	$	704,449



	As of December 31,
	2017			2016			2015			2014			2013
Balance Sheet Data
Total assets	$	7,455,137		$	7,091,446		$	6,071,407		$	4,381,987		$	3,977,140
Total notes payable, notes payable to trusts, exchangeable senior notes and revolving lines of credit, net (2)	$	4,554,217		$	4,306,223		$	3,535,621		$	2,349,764		$	1,946,647
Noncontrolling interests	$	373,056		$	351,274		$	283,527		$	174,558		$	173,425
Total stockholders' equity	$	2,350,751		$	2,244,892		$	2,089,077		$	1,737,425		$	1,758,470
Other Data
Net cash provided by operating activities	$	597,375		$	539,263		$	367,329		$	337,581		$	271,259
Net cash used in investing activities	$	(369,556	)	$	(1,032,035	)	$	(1,625,664	)	$	(564,948	)	$	(366,976	)
Net cash provided by (used in) financing activities	$	(215,994	)	$	460,831		$	1,286,471		$	148,307		$	191,655


(1)	The adoption of FASB ASU 2017-01 on January 1, 2017, has resulted in a decrease in acquisition related costs as the Company’s acquisition of operating stores are considered asset acquisitions rather than business combinations.


(2)	In connection with our adoption of Financial Accounting Standards Board (“FASB”) ASU 2015-3, "Simplifying the Presentation of Debt Issuance Costs," in fiscal year 2016, debt issuance costs, with the exception of those related to our revolving credit facility, have been reclassified from other assets to a reduction of the carrying amount of the related debt liability. Prior year amounts have been reclassified to conform to the current period’s presentation.

(2)

In connection with our adoption of Financial Accounting Standards Board (“FASB”) ASU 2015-3, "Simplifying the Presentation of Debt Issuance Costs," in fiscal year 2016, debt issuance costs, with the exception of those related to our revolving credit facility, have been reclassified from other assets to a reduction of the carrying amount of the related debt liability. Prior year amounts have been reclassified to conform to the current period’s presentation.

Previous: Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities · Next: Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations