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,
2019
2018
2017
2016
2015
Operating Data:
Total revenues
$
1,308,454
$
1,196,604
$
1,105,009
$
991,875
$
782,270
Income from operations (1)
$
634,958
$
619,703
$
654,394
$
458,303
$
296,157
Earnings per share - basic
$
3.27
$
3.29
$
3.79
$
2.92
$
1.58
Earnings per share - diluted
$
3.24
$
3.27
$
3.76
$
2.91
$
1.56
Cash dividends paid per common share
$
3.56
$
3.36
$
3.12
$
2.93
$
2.24
Other Data
Acquisitions - Wholly Owned
$
300,379
$
457,617
$
627,462
$
1,086,645
$
1,606,509
Acquisitions - Joint Venture
$
104,338
$
63,723
$
15,094
$
34,199
$
21,529
Total
$
404,717
$
521,340
$
642,556
$
1,120,844
$
1,628,038
As of December 31,
2019
2018
2017
2016
2015
Balance Sheet Data
Total assets (2)
$
8,532,377
$
7,847,978
$
7,460,953
$
7,091,446
$
6,071,407
Total notes payable, notes payable to trusts, exchangeable senior notes and revolving lines of credit, net (2)(3)
$
5,046,486
$
4,811,515
$
4,554,217
$
4,306,223
$
3,535,621
Noncontrolling interests
$
381,733
$
371,698
$
373,056
$
351,274
$
283,527
Total stockholders' equity
$
2,539,961
$
2,413,724
$
2,350,751
$
2,244,892
$
2,089,077
Other Data
Net cash provided by operating activities
$
707,686
$
677,795
$
597,375
$
539,263
$
367,329
Net cash used in investing activities (4)
$
(621,630
)
$
(443,898
)
$
(353,079
)
$
(1,048,889
)
$
(1,626,946
)
Net cash (used in) provided by financing activities
$
(88,013
)
$
(247,251
)
$
(215,994
)
$
460,831
$
1,286,471
(1)
The adoption of Financial Accounting Standards Board (“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 FASB ASU 2016-02, "Leases (Topic 842)" on January 1, 2019, we began recognizing right-of-use assets and lease liabilities associated with our operating leases as of the adoption date.
(3)
In connection with our adoption of 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.
(4)
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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