Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

The following table sets forth selected consolidated financial data for each of the last five fiscal years. The selected consolidated financial data presented below has been derived from our consolidated financial statements. This financial data should be read in conjunction with the consolidated financial statements, related notes and other financial information appearing elsewhere in this Annual Report on Form 10-K.

On May 6, 2015, we announced a two-for-one split of our outstanding shares of common stock which was effected through a stock dividend that was paid through the issuance of treasury shares on June 15, 2015. All share and per share amounts presented below, for periods prior to June 15, 2015, retroactively reflect the effect of the stock split.


	For the Years Ended December 31,
	(in thousands, except per share data)
		2016		2015		2014		2013		2012

INCOME STATEMENT DATA:
Revenue	$	1,775,423	$	1,601,892	$	1,485,807	$	1,377,058	$	1,293,338
Cost of revenue		799,987		711,622		669,691		620,940		594,190
Gross profit		975,436		890,270		816,116		756,118		699,148
Expenses:
Sales and marketing		317,058		299,955		283,708		243,492		216,962
General and administrative		207,017		182,510		173,890		157,861		137,609
Research and development		101,122		99,681		98,263		88,003		82,014
Impairment charge		-		8,212		-		-		-
Income from operations		350,239		299,912		260,255		266,762		262,563
Interest expense, net		(28,393)		(26,771)		(13,700)		(3,501)		(1,946)
Income before provision for income taxes		321,846		273,141		246,555		263,261		260,617
Provision for income taxes		99,792		81,006		64,604		75,467		82,330
Net income		222,054		192,135		181,951		187,794		178,287
Less: Net income (loss) attributable to noncontrolling interest		9		57		45		(6)		20
Net income attributable to IDEXX Laboratories, Inc. stockholders	$	222,045	$	192,078	$	181,906	$	187,800	$	178,267
Earnings per share:
Basic	$	2.47	$	2.07	$	1.82	$	1.77	$	1.62
Diluted	$	2.44	$	2.05	$	1.79	$	1.74	$	1.59
Weighted average shares outstanding:
Basic		89,732		92,601		100,094		106,318		109,969
Diluted		90,884		93,649		101,503		107,970		112,311

BALANCE SHEET DATA:
Cash and cash equivalents	$	154,901	$	128,994	$	322,536	$	279,058	$	223,986
Marketable securities(1)		236,949		213,591		-		-		-
Cash and cash equivalents and marketable securities	$	391,850	$	342,585	$	322,536	$	279,058	$	223,986
Working capital	$	(88,984)	$	(35,127)	$	(61,508)	$	174,353	$	163,204
Total assets	$	1,530,704	$	1,474,993	$	1,384,211	$	1,230,516	$	1,103,602
Total long-term debt(2)	$	593,110	$	597,085	$	350,000	$	150,359	$	1,394
Total stockholders' equity (deficit)	$	(108,213)	$	(83,995)	$	117,589	$	518,214	$	636,257

(1) During the years ended December 31, 2015 and 2016, we purchased marketable debt securities, which are classified as available-for-sale and carried at fair value in the accompanying consolidated balance sheets on a trade date basis. See Note 5 to the consolidated financial statements included in this Annual Report on Form 10-K for additional information regarding our marketable securities.

(2) Between December 2013 and June 2015, we issued and sold approximately $600 million in senior notes through private placements at fixed interest rates ranging from 1.785 percent to 4.04 percent. See Note 11 to the consolidated financial statements included in this Annual Report on Form 10-K for additional information regarding our senior notes.

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