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,
2018
2017
2016
2015
2014
Operating Data:
Total revenues
$
1,196,604
$
1,105,009
$
991,875
$
782,270
$
647,155
Income from operations (1)
$
619,703
$
654,394
$
458,303
$
296,157
$
268,183
Earnings per share - basic
$
3.29
$
3.79
$
2.92
$
1.58
$
1.54
Earnings per share - diluted
$
3.27
$
3.76
$
2.91
$
1.56
$
1.53
Cash dividends paid per common share
$
3.36
$
3.12
$
2.93
$
2.24
$
1.81
Other Data
Acquisitions - Wholly Owned
$
457,617
$
627,462
$
1,086,645
$
1,606,509
$
563,670
Acquisitions - Joint Venture
63,723
15,094
34,199
21,529
—
Total
$
521,340
$
642,556
$
1,120,844
$
1,628,038
$
563,670
As of December 31,
2018
2017
2016
2015
2014
Balance Sheet Data
Total assets
$
7,847,978
$
7,460,953
$
7,091,446
$
6,071,407
$
4,381,987
Total notes payable, notes payable to trusts, exchangeable senior notes and revolving lines of credit, net(2)
$
4,811,515
$
4,554,217
$
4,306,223
$
3,535,621
$
2,349,764
Noncontrolling interests
$
371,698
$
373,056
$
351,274
$
283,527
$
174,558
Total stockholders' equity
$
2,413,724
$
2,350,751
$
2,244,892
$
2,089,077
$
1,737,425
Other Data
Net cash provided by operating activities
$
677,795
$
597,375
$
539,263
$
367,329
$
337,581
Net cash used in investing activities(3)
$
(443,898
)
$
(353,079
)
$
(1,048,889
)
$
(1,626,946
)
$
(561,154
)
Net cash provided by financing activities
$
(247,251
)
$
(215,994
)
$
460,831
$
1,286,471
$
148,307
(1)
The adoption of FASB ASU 2017-01 on January 1, 2017, has resulted in a decrease in acquisition related costs as our 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.
(3)
In connection with our adoption of FASB ASU 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash," on January 1, 2018, we began including amounts generally described as restricted cash and restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Prior year amounts have been reclassified to conform to the current period's presentation.
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