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)
		2017		2016		2015		2014		2013

INCOME STATEMENT DATA:
Revenue	$	1,969,058	$	1,775,423	$	1,601,892	$	1,485,807	$	1,377,058
Cost of revenue		871,676		799,987		711,622		669,691		620,940
Gross profit		1,097,382		975,436		890,270		816,116		756,118
Expenses:
Sales and marketing		354,294		317,058		299,955		283,708		243,492
General and administrative		220,878		207,017		182,510		173,890		157,861
Research and development		109,182		101,122		99,681		98,263		88,003
Impairment charge		-		-		8,212		-		-
Income from operations		413,028		350,239		299,912		260,255		266,762
Interest expense, net		(31,971)		(28,393)		(26,771)		(13,700)		(3,501)
Income before provision for income taxes		381,057		321,846		273,141		246,555		263,261
Provision for income taxes		117,788		99,792		81,006		64,604		75,467
Net income		263,269		222,054		192,135		181,951		187,794
Less: Net income (loss) attributable to noncontrolling interest		125		9		57		45		(6)
Net income attributable to IDEXX Laboratories, Inc. stockholders	$	263,144	$	222,045	$	192,078	$	181,906	$	187,800
Earnings per share:
Basic	$	3.00	$	2.47	$	2.07	$	1.82	$	1.77
Diluted	$	2.94	$	2.44	$	2.05	$	1.79	$	1.74
Weighted average shares outstanding:
Basic		87,769		89,732		92,601		100,094		106,318
Diluted		89,567		90,884		93,649		101,503		107,970

BALANCE SHEET DATA:
Cash and cash equivalents	$	187,675	$	154,901	$	128,994	$	322,536	$	279,058
Marketable securities(1)		284,255		236,949		213,591		-		-
Cash and cash equivalents and marketable securities	$	471,930	$	391,850	$	342,585	$	322,536	$	279,058
Working capital	$	(32,582)	$	(88,984)	$	(35,127)	$	(61,508)	$	174,353
Total assets	$	1,713,416	$	1,530,704	$	1,474,993	$	1,384,211	$	1,230,516
Total long-term debt(2)	$	606,075	$	593,110	$	597,085	$	350,000	$	150,359
Total stockholders' equity (deficit)	$	(53,842)	$	(108,213)	$	(83,995)	$	117,589	$	518,214

(1) 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) 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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