Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

The following selected financial data has been derived from FactSet’s consolidated financial statements. This financial data should be read in conjunction with Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations and Item 8, Financial Statements and Supplementary Data, of this Annual Report on Form 10-K.

Consolidated Statements of Income Data

	For the year ended August 31,
(in thousands, except per share data)	2016			2015			2014		2013			2012
Revenues	$	1,127,092		$	1,006,768		$	920,335	$	858,112		$	805,793
Operating income	$	349,676	(1)	$	331,918	(4)	$	302,219	$	269,419	(7)	$	272,990
Provision for income taxes	$	122,178		$	92,703		$	91,921	$	72,273		$	85,896
Net income	$	338,815	(2)	$	241,051	(5)	$	211,543	$	198,637	(8)	$	188,809
Diluted earnings per common share	$	8.19	(3)	$	5.71	(6)	$	4.92	$	4.45	(9)	$	4.12
Weighted average common shares (diluted)		41,365			42,235			42,970		44,624			45,810
Cash dividends declared per common share	$	1.88		$	1.66		$	1.48	$	1.32		$	1.16

Consolidated Balance Sheet Data

	As of August 31,
(in thousands)	2016		2015		2014		2013		2012
Cash and cash equivalents	$	228,407	$	158,914	$	116,378	$	196,627	$	189,044
Accounts receivable, net of reserves	$	97,797	$	95,064	$	90,354	$	73,290	$	74,251
Goodwill and intangible assets, net	$	546,076	$	348,339	$	327,463	$	280,796	$	289,162
Total assets	$	1,019,161	$	736,671	$	663,212	$	690,197	$	694,143
Non-current liabilities	$	343,570	$	65,307	$	24,839	$	30,165	$	28,703
Total stockholders’ equity	$	517,381	$	531,584	$	511,082	$	541,779	$	552,264

(1)	Operating income in fiscal 2016 includes pre-tax charges of $4.6 million related primarily to legal matters, $2.8 million from restructuring actions initiated by the Company and $1.8 million related to a change in the vesting of performance-based equity options.

(2)	Fiscal 2016 net income includes $3.3 million (after-tax) of non-recurring items related primarily to legal matters, $2.0 million (after-tax) from restructuring actions initiated by the Company, $1.2 million (after-tax) related to a change in the vesting of performance-based equity instruments, income tax benefits of $10.5 million primarily from the permanent reenactment of the U.S. Federal R&D Tax Credit, finalizing prior year tax returns and other discrete items and a gain of $81.7 million (after-tax) related to the sale of FactSet’s Market Metrics business in July 2016.

(3)	Diluted EPS for fiscal 2016 includes the net effect of a $2.01 increase in diluted EPS from the gain on sale and a $0.25 increase in diluted EPS from the income tax benefits, partially offset by a $0.08 decrease from the non-recurring items related primarily to legal matters, a $0.05 decrease from the restructuring actions and a $0.03 decrease from a change in the vesting of performance-based equity instruments.

(4)	Operating income in fiscal 2015 includes pre-tax charges of $3.0 million related to the vesting of performance-based equity instruments and $3.2 million primarily from changes in the senior leadership responsible for the Company’s salesforce.

(5)	Fiscal 2015 net income includes $2.1 million (after-tax) of incremental expenses related to the vesting of performance-based equity instruments, $2.2 million (after-tax) related to the changes in the senior leadership responsible for the Company’s salesforce and income tax benefits of $8.8 million primarily from the reenactment of the U.S. Federal R&D Tax Credit in December 2014, finalizing prior year tax returns and other discrete items.

(6)	Diluted EPS for fiscal 2015 includes the net effect of a $0.21 increase in diluted EPS from the income tax benefits partially offset by a $0.05 decrease from the vesting of performance-based equity instruments and a $0.05 decrease from the changes in the senior leadership responsible for the Company’s salesforce.

(7)	Operating income for fiscal 2013 includes pre-tax charges totaling $18.3 million related to the vesting of performance-based stock options granted in connection with the acquisitions of Market Metrics and StreetAccount.

(8)	Fiscal 2013 net income includes $12.9 million (after-tax) of incremental expenses related to the vesting of performance-based stock options granted in connection with the acquisitions of Market Metrics and StreetAccount and income tax benefits of $7.2 million primarily from the reenactment of the U.S. Federal R&D Tax Credit in January 2013, and finalizing prior year tax returns.

(9)	Diluted EPS for fiscal 2013 includes the net effect of a $0.29 decrease from the vesting of performance-based options, partially offset by a $0.16 increase in diluted EPS from the income tax benefits.

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