The following table presents selected financial data for each of the last five fiscal years. This selected financial data should be read in conjunction with the Consolidated Financial Statements and related notes beginning on page F-1 of this Annual Report on Form 10-K. On April 26, 2019, Jacobs completed the sale of its ECR business to Worley. As a result of the ECR sale, substantially all ECR-related assets and liabilities have been sold (the "Disposal Group"). We determined that the Disposal Group should be reported as discontinued operations in accordance with ASC 210-05, Discontinued Operations because their disposal represents a strategic shift that had a major effect on our operations and financial results. As such, the financial results of the ECR business are reflected in our Consolidated Statements of Earnings as discontinued operations for all periods presented, except for fiscal 2015. The ECR business is not presented as discontinued operations for fiscal 2015 because such information is not available without unreasonable effort or expense on a basis that is consistent with the selected financial information for the years presented. Additionally, current and non-current assets and liabilities of the Disposal Group are reflected as held-for-sale in the Consolidated Balance Sheet as of September 28, 2018. Further, as of the year ended September 27, 2019, a portion of the ECR business remains held by Jacobs and continues to be classified as held for sale as of fiscal year 2019 in accordance with U.S. GAAP. For further discussion see Note 7- Sale of Energy, Chemicals and Resources ("ECR") Business to the consolidated financial statements. Dollar amounts are presented in thousands, except for per share information:
Page 42
2019 (a)
2018 (b)
2017 (c)
2016 (d)
2015 (e)
Results of Operations:
Revenues
$
12,737,868
$
10,579,773
$
6,330,126
$
6,257,478
$
12,114,832
Net Earnings (Loss) Attributable to Jacobs from Continuing Operations
$
290,960
$
(4,185
)
$
170,167
$
159,998
$
302,971
Financial Position:
Current ratio
1.34 to 1
1.45 to 1
1.56 to 1
1.61 to 1
1.58 to 1
Working capital
$
1,038,062
$
1,410,891
$
1,069,953
$
1,081,784
$
1,141,512
Current assets
$
4,111,768
$
4,556,584
$
2,996,180
$
2,864,470
$
3,122,678
Total assets
$
11,462,711
$
12,645,795
$
7,380,859
$
7,360,022
$
7,785,926
Cash
$
631,068
$
634,870
$
607,821
$
507,169
$
460,859
Long-term debt
$
1,201,245
$
2,144,167
$
235,000
$
385,330
$
584,434
Total Jacobs stockholders’ equity
$
5,714,691
$
5,854,345
$
4,428,352
$
4,265,276
$
4,291,745
Return on average equity
5.03
%
(0.08
)%
3.91
%
3.74
%
6.92
%
Backlog:
$
22,569
$
19,955
$
13,147
$
11,535
$
18,807
Per Share Information:
Basic Net Earnings (Loss) from Continuing Operations Per Share
$
2.11
$
(0.03
)
$
1.41
$
1.33
$
2.42
Diluted Net Earnings (Loss) from Continuing Operations Per Share
$
2.09
$
(0.03
)
$
1.40
$
1.32
$
2.40
Stockholders’ equity
$
41.05
$
42.21
$
36.78
$
35.26
$
34.85
Average Number of Shares of Common Stock and Common Stock Equivalents Outstanding (Diluted)
139,206
137,536
120,147
121,483
126,110
Common Shares Outstanding At Year End
132,879
142,218
120,386
120,951
123,153
Cash Dividends Declared Per Common Share
$
0.68
$
0.60
$
0.60
$
—
$
—
(a)
Includes costs of $243.7 million, or $1.75 per diluted share from continuing operations, related to the Company's restructuring and other initiatives during fiscal 2019. Includes after-tax CH2M transaction costs and adjustments of $2.4 million, after-tax transaction costs associated with the acquisition of KeyW of $9.8 million and after-tax transaction costs associated with the acquisition of John Wood Group's Nuclear Business of $3.9 million, for a total of $0.12 per diluted share from continuing operations. Also includes amortization of intangible assets of $59.0 million, or $0.42 per diluted share from continuing operations and $48.1 million or $0.34 per diluted share from continuing operations in fair value adjustments partly offset by dividend income related to our investment in Worley stock and certain foreign currency revaluations relating to ECR sale proceeds
(b)
Includes costs of $112.8 million, or $0.81 per diluted share from continuing operations, related to the Company's restructuring and other initiatives during fiscal 2018. Also included in fiscal 2018 are after-tax charges of $60.7 million, or $0.44 per diluted share, in professional fees and related costs associated with the CH2M acquisition and pending ECR sale, $259.2 million, or $1.86 per diluted share from continuing operations, in charges related to tax reform and amortization of intangible assets of $51.5 million, or $0.37 per diluted share from continuing operations
(c)
Includes costs of $65.0 million, or $0.54 per diluted share from continuing operations, related to the Company's restructuring and other initiatives during fiscal 2017. Also included in the fourth quarter of fiscal 2017 are after-tax charges of $10.6 million, or $0.09 per diluted share from continuing operations, respectively, in professional fees and related costs associated with the CH2M acquisition. Also includes amortization of intangible assets of $33.5 million, or $0.28 per diluted share from continuing operations
(d)
Includes costs of $75.2 million, or $0.62 per diluted share from continuing operations, related to the Company's restructuring initiatives during fiscal 2016. Also included in the fourth quarter of fiscal 2016 are (i) a loss on sale of our French subsidiary of $17.1 million or $0.14 per diluted share from continuing operations; and (ii) a non-cash write-off on an equity investment of $10.4 million or $0.09 per diluted share from continuing operations. Also includes amortization of intangible assets of $47.6 million, or $0.28 per diluted share from continuing operations
(e)
Includes costs of $107.9 million, or $0.86 per diluted share, related to the Company's restructuring initiatives during fiscal 2015. Also includes amortization of intangible assets of $49.4 million, or $0.27 per diluted share from continuing operations
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