filings.toolsItem 6. Selected Financial Data
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Item 6. Selected Financial Data
We derived the selected statement of operations data for the years ended December 31, 2018, 2017 and 2016 and the selected balance sheet data as of December 31, 2018 and 2017 from our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K. All selected financial data as of and for the years ended December 31, 2017 and 2016 have been restated to reflect the adoption of Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09") using the full retrospective approach as of January 1, 2016. The selected balance sheet data as of December 31, 2016 was derived from unaudited consolidated financial statements that are not included in this Annual Report on Form 10-K and reflect the adoption of ASU 2014-09. The selected statement of operations data for the years ended December 31, 2015 and 2014 and the selected balance sheet data as of December 31, 2015 were derived from audited consolidated financial statements that are not included in this Annual Report on Form 10-K and have not been adjusted from the basis of accounting applied before our adoption of ASU 2014-09. The selected balance sheet data as of December 31, 2014 was derived from unaudited consolidated financial statements that are not included in this Annual Report on Form 10-K and have not been adjusted from the basis of accounting applied before our adoption of ASU 2014-09.
The selected financial data below should be read together with the consolidated financial statements including the related notes thereto and "Part II—Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" included elsewhere in this Annual Report on Form 10-K. Our historical results are not necessarily indicative of the results expected for any future period.
| As of and for the Year Ended December 31, | |||||||||||||||||||
| 2018 | 2017 | 2016 | 2015 | 2014 | |||||||||||||||
| (in millions, except per share data) | |||||||||||||||||||
| Selected Statement of Operations Data: | |||||||||||||||||||
| Total revenues | $ | 8,906 | $ | 8,131 | $ | 6,576 | $ | 7,133 | $ | 6,688 | |||||||||
| Operating income(1) | 1,432 | 1,132 | 868 | 904 | 708 | ||||||||||||||
| Income (loss) from continuing operations, net of taxes | 769 | 1,089 | (17 | ) | 881 | 179 | |||||||||||||
| Net income (loss) from continuing operations per share: | |||||||||||||||||||
| Basic | $ | 2.53 | $ | 3.34 | $ | (0.08 | ) | $ | 2.67 | $ | 0.53 | ||||||||
| Diluted | 2.50 | 3.32 | (0.08 | ) | 2.66 | 0.53 | |||||||||||||
| Cash dividends declared per share | $ | 0.60 | $ | 0.60 | $ | 0.84 | $ | 0.42 | $ | — | |||||||||
| Selected Balance Sheet Data: | |||||||||||||||||||
| Total assets | $ | 13,995 | $ | 14,228 | $ | 26,176 | $ | 25,622 | $ | 26,001 | |||||||||
| Long-term debt(2) | 7,282 | 6,602 | 6,616 | 5,894 | 6,696 |
| (1) | Restated to reflect the adoption of ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which was adopted on January 1, 2018 on a retrospective basis for all periods presented. |
| (2) | Includes current maturities and is net of unamortized deferred financing costs and discount. Also includes capital lease obligations and debt of VIEs. |
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