Item 6. Selected Financial Data



	2018		2017		2016		2015		2014
	(In millions of dollars, except for per share amounts)
Net sales	$	11,221	$	10,425	$	10,137	$	9,973	$	9,965
Net earnings attributable to W.W. Grainger, Inc. (herein referred to as Net earnings)	782		586		606		769		802
Net earnings per basic share	13.82		10.07		9.94		11.69		11.59
Net earnings per diluted share	13.73		10.02		9.87		11.58		11.45
Total assets	5,873		5,804		5,694		5,858		5,283
Long-term debt (less current maturities) and other long-term liabilities	2,279		2,469		2,160		1,717		737
Total shareholders' equity	2,093		1,828		1,906		2,353		3,284
Cash dividends paid per share	$	5.36	$	5.06	$	4.83	$	4.59	$	4.17

The items discussed below are considered to materially affect the comparability of the information reflected in the selected financial data. For further information see “Part II, Item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations” of this report, which is incorporated herein by reference.

Net earnings for 2018 included a net expense of $170 million primarily consisting of a $133 million net non-cash charge related to the Cromwell goodwill and trade name impairment in other businesses and a net charge of $37 million related to restructuring primarily consisting of asset impairment charges in Canada and other related charges, net of gains from the sales of branches in the U.S., Canada and corporate offices.

Net earnings for 2017 included a net expense of $84 million primarily consisting of a net charge of $102 million related to restructuring and other charges primarily consisting of branch closures in the U.S. and Canada businesses, net of gains on sale of branch real estate in the U.S., the consolidation of the contact center network in the U.S. and the wind-down of operations in Colombia, which is part of other businesses. This was partially offset by the net benefit of $15 million related to U.S. tax legislation and other discrete tax items.

Net earnings for 2016 included a net expense of $105 million primarily related to restructuring actions in the U.S. and Canada, goodwill and intangible impairments, contingencies and a net tax benefit.

Net earnings for 2015 included a net charge of $30 million primarily composed of a $25 million net charge related to the reorganization in the U.S. and Canada businesses and a $5 million charge for restructuring in other businesses.

Net earnings for 2014 included a net charge of $56 million primarily composed of a $28 million charge related to closing of the business in Brazil, a $10 million charge due to a retirement plan transition in Europe, a $10 million charge related to restructuring of the business in Europe and an $8 million charge related to a goodwill impairment charge in other businesses.

Grainger completed several acquisitions in the years 2014 and 2015, all of which were immaterial individually and in the aggregate. Operating results have included the results of each business acquired since the respective acquisition dates.

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