Item 6. Selected Financial Data

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Item 6. Selected Financial Data

The following table sets forth selected consolidated financial data of the Company. The selected consolidated balance sheet data as of December 30, 2017 and December 31, 2016 and the selected consolidated statement of income data for the years ended December 30, 2017, December 31, 2016, and December 26, 2015 were derived from the Company’s audited consolidated financial statements and the related notes thereto which are included in Item 8 of this annual report on Form 10-K. The selected consolidated balance sheet data as of December 26, 2015, December 27, 2014, and December 28, 2013 and the selected consolidated statement of income data for the years ended December 27, 2014 and December 28, 2013 were derived from the Company’s audited consolidated financial statements, not included herein.

The information set forth below is not necessarily indicative of the results of future operations and should be read together with "Management's Discussion and Analysis of Financial Condition and Results of Operations" and the consolidated financial statements and notes to those statements included in Items 7 and 8 in Part II of this Form 10-K.

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	Years ended (1)
	Dec. 30, 2017			Dec. 31, 2016		Dec. 26, 2015		Dec. 27, 2014		Dec. 28, 2013
	(in thousands, except per share data)
Consolidated Statements of Income Data:
Net sales	$	3,087,004		$	3,018,665	$	2,820,270	$	2,870,658	$	2,631,851
Cost of goods sold		1,303,840			1,339,095		1,281,566		1,266,246		1,224,551
Gross profit		1,783,164			1,679,570		1,538,704		1,604,412		1,407,300

Operating expenses:
Advertising expense		164,693			177,143		167,166		146,633		112,905
Selling, general and administrative		437,977			410,558		394,914		372,032		355,440
Research and development		511,634			467,960		427,043		395,121		364,923
Total operating expenses		1,114,304			1,055,661		989,123		913,786		833,268

Operating income		668,860			623,909		549,581		690,626		574,032
Other income, net (2)(3)		13,434			5,761		17,606		33,119		79,526
Income before income taxes		682,294			629,670		567,187		723,745		653,558

Income tax (benefit) provision (4)		(12,661	)		118,856		110,960		359,534		41,146
Net income	$	694,955		$	510,814	$	456,227	$	364,211	$	612,412

Net income per share:
Basic	$	3.70		$	2.71	$	2.39	$	1.89	$	3.13
Diluted	$	3.68		$	2.70	$	2.39	$	1.88	$	3.12
Weighted average common shares outstanding:
Basic		187,828			188,818		190,631		193,106		195,411
Diluted		188,732			189,343		191,107		194,165		196,341

Dividends declared per share	$	2.04		$	2.04	$	2.04	$	1.92	$	1.80

Balance Sheet Data (at end of Period):
Cash and cash equivalents	$	891,488		$	846,883	$	833,070	$	1,196,268	$	1,179,149
Marketable securities		1,421,720			1,480,237		1,558,548		1,575,333		1,651,968
Total assets		5,010,260			4,525,133		4,499,391		4,693,303		4,879,603
Total debt		-			-		-		-		-
Total stockholders' equity		3,802,466			3,418,003		3,345,126		3,403,367		3,659,706

	(1)	Our fiscal year-end is the last Saturday of the calendar year and does not always fall on December 31. All years presented contain 52 weeks excluding Fiscal 2016 which includes 53 weeks.

	(2)	Other income, net mainly consists of gain (loss) on sale of marketable securities, interest income, and foreign currency gain (loss).

	(3)	Includes $22.6 million, $31.7 million, $23.5 million, $4.3 million, and $20.0 million of foreign currency losses in 2017, 2016, 2015, and 2014, respectively, and $35.5 million of foreign currency gain in 2013.

	(4)	2017 – includes $180.0 million income tax benefit due to election to align Switzerland corproate tax positions partially offset by $22.6 million of income tax expense due to the expiration of certain share-based awards; 2014 – includes $307.6 million income tax expense associated with our inter-company restructuring partially offset by $72.9 million income tax reserve release due to expiration of certain statutes of limitations or completion of tax audits 2013 – includes $68.7 million income tax reserve release due to expiration of certain statutes of limitations or completion of tax audits partially offset by Taiwan surtax expense due to the release of reserves

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