filings.toolsItem 6. Selected Financial Data
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Item 6. Selected Financial Data
The following tables set forth our selected financial data for the periods and at the dates indicated. The selected financial data from the consolidated statements of operations and consolidated statements of cash flows for the years ended December 31, 2020, 2019, and 2018 and the selected financial data from the consolidated balance sheets as of December 31, 2020 and 2019 have been derived from the audited consolidated financial statements included in this Annual Report on Form 10-K. The selected financial data from the consolidated statements of operations and consolidated statements of cash flows for the years ended December 31, 2017 and 2016 and the selected financial data from the consolidated balance sheets as of December 31, 2018, 2017, and 2016 have been derived from audited consolidated financial statements not included in this Annual Report on Form 10-K. The information presented below should also be read in conjunction with our consolidated financial statements and the related notes thereto and Item 7. “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”
| Years Ended December 31, | ||||||||||||||||||||||||||||||||
| 2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||||||||||||||
| (In thousands, except per share amounts) | ||||||||||||||||||||||||||||||||
| Net sales | $ | 2,711,332 | $ | 3,063,117 | $ | 2,244,044 | $ | 2,941,324 | $ | 2,904,563 | ||||||||||||||||||||||
| Gross profit | 680,673 | 549,212 | 392,177 | 548,947 | 638,418 | |||||||||||||||||||||||||||
| Operating income (loss) | 317,489 | (161,785) | 40,113 | 177,851 | (568,151) | |||||||||||||||||||||||||||
| Net income (loss) | 398,355 | (114,933) | 144,326 | (165,615) | (416,112) | |||||||||||||||||||||||||||
| Net income (loss) per share: | ||||||||||||||||||||||||||||||||
| Basic | $ | 3.76 | $ | (1.09) | $ | 1.38 | $ | (1.59) | $ | (4.05) | ||||||||||||||||||||||
| Diluted | $ | 3.73 | $ | (1.09) | $ | 1.36 | $ | (1.59) | $ | (4.05) | ||||||||||||||||||||||
| Cash dividends declared per common share | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||||||
| Net cash provided by (used in) operating activities | $ | 37,120 | $ | 174,201 | $ | (326,809) | $ | 1,340,677 | $ | 206,753 | ||||||||||||||||||||||
| Net cash (used in) provided by investing activities | (131,227) | (362,298) | (682,714) | (626,802) | 144,520 | |||||||||||||||||||||||||||
| Net cash (used in) provided by financing activities | (82,587) | 74,943 | 255,228 | 192,045 | (136,393) |
| December 31, | ||||||||||||||||||||||||||||||||
| 2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||||||||||||||
| (In thousands) | ||||||||||||||||||||||||||||||||
| Cash and cash equivalents | $ | 1,227,002 | $ | 1,352,741 | $ | 1,403,562 | $ | 2,268,534 | $ | 1,347,155 | ||||||||||||||||||||||
| Marketable securities | 520,066 | 811,506 | 1,143,704 | 720,379 | 607,991 | |||||||||||||||||||||||||||
| Total assets | 7,108,931 | 7,515,689 | 7,121,362 | 6,864,501 | 6,824,368 | |||||||||||||||||||||||||||
| Total long-term debt | 279,231 | 471,697 | 466,791 | 393,540 | 188,388 | |||||||||||||||||||||||||||
| Total liabilities | 1,588,003 | 2,418,922 | 1,908,959 | 1,765,804 | 1,606,019 | |||||||||||||||||||||||||||
| Total stockholders’ equity | 5,520,928 | 5,096,767 | 5,212,403 | 5,098,697 | 5,218,349 |
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