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)
	2018			2017			2016			2015			2014

INCOME STATEMENT DATA:
Revenue	$	2,213,242		$	1,969,058		$	1,775,423		$	1,601,892		$	1,485,807
Cost of revenue	971,700			871,676			799,987			711,622			669,691
Gross profit	1,241,542			1,097,382			975,436			890,270			816,116
Expenses:
Sales and marketing	387,406			354,294			317,058			299,955			283,708
General and administrative	244,938			220,878			207,017			182,510			173,890
Research and development	117,863			109,182			101,122			99,681			98,263
Impairment charge	—			—			—			8,212			—
Income from operations	491,335			413,028			350,239			299,912			260,255
Interest expense, net	(33,593		)	(31,971		)	(28,393		)	(26,771		)	(13,700		)
Income before provision for income taxes	457,742			381,057			321,846			273,141			246,555
Provision for income taxes	80,695			117,788			99,792			81,006			64,604
Net income	377,047			263,269			222,054			192,135			181,951
Less: Net income attributable to noncontrolling interest	16			125			9			57			45
Net income attributable to IDEXX Laboratories, Inc. stockholders	$	377,031		$	263,144		$	222,045		$	192,078		$	181,906
Earnings per share:
Basic	$	4.34		$	3.00		$	2.47		$	2.07		$	1.82
Diluted	$	4.26		$	2.94		$	2.44		$	2.05		$	1.79
Weighted average shares outstanding:
Basic	86,864			87,769			89,732			92,601			100,094
Diluted	88,470			89,567			90,884			93,649			101,503

BALANCE SHEET DATA:
Cash and cash equivalents	$	123,794		$	187,675		$	154,901		$	128,994		$	322,536
Marketable securities(1)	—			284,255			236,949			213,591			—
Cash and cash equivalents and marketable securities	$	123,794		$	471,930		$	391,850		$	342,585		$	322,536
Working capital	$	(116,272	)	$	(32,582	)	$	(88,984	)	$	(35,127	)	$	(61,508	)
Total assets	$	1,537,349		$	1,713,416		$	1,530,704		$	1,474,993		$	1,384,211
Total long-term debt	$	601,348		$	606,075		$	593,110		$	597,085		$	350,000
Total stockholders' equity (deficit)	$	(9,233	)	$	(53,842	)	$	(108,213	)	$	(83,995	)	$	117,589

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(1)	See "Part II. Item 8. Financial Statements and Supplementary Data, Note 6. Marketable Securities" to the consolidated financial statements included in this Annual Report on Form 10-K for additional information regarding our marketable securities.

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