A Dark Vector Cognition product

Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

The following selected financial data has been derived from our 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)20202019201820172016
Revenue$1,494,111$1,435,351$1,350,145$1,221,179$1,127,092
Operating income$439,660$438,035$366,204$352,135$349,676
Provision for income taxes$54,196$69,175$84,753$86,053$122,178
Net income$372,938$352,790$267,085$258,259$338,815
Diluted earnings per common share$9.65$9.08$6.78$6.51$8.19
Diluted weighted average common shares38,64638,87339,37739,64241,365
Cash dividends declared per common share$2.98$2.72$2.40$2.12$1.88

Consolidated Balance Sheets Data

As of August 31,
(in thousands)20202019201820172016
Cash and cash equivalents$585,605$359,799$208,623$194,731$228,407
Accounts receivable, net of reserves$155,011$146,309$156,639$148,331$97,797
Goodwill and intangible assets, net$830,798$810,177$850,768$881,103$546,076
Total assets$2,083,388$1,560,130$1,419,447$1,413,315$1,019,161
Non-current liabilities$910,720$668,951$672,413$652,485$343,570
Total stockholders’ equity$896,375$672,256$525,900$559,691$517,381

The items described below (pre-tax) represent a significant impact to the presentation and comparability of our selected financial data.

  • During fiscal 2020, the Company recorded a $16.5 million impairment charge to reflect the estimated fair value of an investment in a company, expenses of $14.8 million related to professional fees associated with infrastructure upgrades and our ongoing multi-year investment plan, and $4.3 million of facilities costs. The facilities costs related to duplicate rent associated with the build-out of the new Norwalk, Connecticut headquarters while we still occupied our then-current Norwalk, Connecticut headquarters.

  • During fiscal 2019, the Company recorded $5.0 million in non-core transaction related revenue. The Company also recorded expenses of $4.3 million in severance costs and $8.7 million related to other corporate actions including stock-based compensation acceleration, professional fees related to infrastructure upgrade activities, and a one-time adjustment related to data costs and occupancy costs.

Table of Contents

  • During fiscal 2018, the Company recorded expenses of $17.4 million in restructuring actions, $4.7 million related to other corporate actions, including stock-based compensation acceleration, and $4.9 million in legal matters.

  • During fiscal 2017, the Company recorded expenses of $5.6 million related to modifications of certain share-based compensation grants, $5.0 million related to restructuring actions and $7.4 million in acquisition-related expenses.

  • During fiscal 2016, the Company recorded expenses of $4.6 million related primarily to legal matters, $2.8 million from restructuring actions and $1.8 million related to a change in the vesting of performance-based equity options.

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