filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
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 were 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 represented 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. 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, for the year ended September 27, 2019, a portion of the ECR business remained held by Jacobs and was classified as held for sale as of fiscal year 2019 in accordance with U.S. GAAP. For further discussion see Note 15- Sale of Energy, Chemicals and Resources ("ECR") Business to the consolidated financial statements. Dollar amounts are presented in thousands, except for per share information:
| 2020 (a) | 2019 (b) | 2018 (c) | 2017 (d) | 2016 (e) | |||||||||||||||||||||||||
| Results of Operations: | |||||||||||||||||||||||||||||
| Revenues | $ | 13,566,975 | $ | 12,737,868 | $ | 10,579,773 | $ | 6,330,126 | $ | 6,257,478 | |||||||||||||||||||
| Net Earnings (Loss) Attributable to Jacobs from Continuing Operations | $ | 353,861 | $ | 290,960 | $ | (4,185) | $ | 170,167 | $ | 159,998 | |||||||||||||||||||
| Financial Position: | |||||||||||||||||||||||||||||
| Current ratio | 1.54 to 1 | 1.34 to 1 | 1.45 to 1 | 1.56 to 1 | 1.61 to 1 | ||||||||||||||||||||||||
| Working capital | $ | 1,598,002 | $ | 1,038,062 | $ | 1,410,891 | $ | 1,069,953 | $ | 1,081,784 | |||||||||||||||||||
| Current assets | $ | 4,539,599 | $ | 4,111,768 | $ | 4,556,584 | $ | 2,996,180 | $ | 2,864,470 | |||||||||||||||||||
| Total assets | $ | 12,354,353 | $ | 11,462,711 | $ | 12,645,795 | $ | 7,380,859 | $ | 7,360,022 | |||||||||||||||||||
| Cash | $ | 862,424 | $ | 631,068 | $ | 634,870 | $ | 607,821 | $ | 507,169 | |||||||||||||||||||
| Long-term debt | $ | 1,676,941 | $ | 1,201,245 | $ | 2,144,167 | $ | 235,000 | $ | 385,330 | |||||||||||||||||||
| Total Jacobs stockholders’ equity | $ | 5,815,712 | $ | 5,714,691 | $ | 5,854,345 | $ | 4,428,352 | $ | 4,265,276 | |||||||||||||||||||
| Return on average equity | 6.14% | 5.03% | (0.08)% | 3.91% | 3.74% | ||||||||||||||||||||||||
| Backlog: | $ | 23,818 | $ | 22,569 | $ | 19,955 | $ | 13,147 | $ | 11,535 | |||||||||||||||||||
| Per Share Information: | |||||||||||||||||||||||||||||
| Basic Net Earnings (Loss) from Continuing Operations Per Share | $ | 2.69 | $ | 2.11 | $ | (0.03) | $ | 1.41 | $ | 1.33 | |||||||||||||||||||
| Diluted Net Earnings (Loss) from Continuing Operations Per Share | $ | 2.67 | $ | 2.09 | $ | (0.03) | $ | 1.40 | $ | 1.32 | |||||||||||||||||||
| Stockholders’ equity | $ | 43.82 | $ | 41.05 | $ | 42.21 | $ | 36.78 | $ | 35.26 | |||||||||||||||||||
| Average Number of Shares of Common Stock and Common Stock Equivalents Outstanding (Diluted) | 132,721 | 139,206 | 137,536 | 120,147 | 121,483 | ||||||||||||||||||||||||
| Common Shares Outstanding At Year End | 129,748 | 132,879 | 142,218 | 120,386 | 120,951 | ||||||||||||||||||||||||
| Cash Dividends Declared Per Common Share | $ | 0.76 | $ | 0.68 | $ | 0.60 | $ | 0.60 | $ | — |
(a)Includes after-tax costs of $248.2 million, or $1.87 per diluted share from continuing operations, related to the Company's restructuring, transactions, and other initiatives during fiscal 2020. Also includes amortization of intangible assets of $68.3 million, or $0.51 per diluted share from continuing operations, and $56.9 million, or $0.43 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 after-tax costs of $259.8 million, or $1.87 per diluted share from continuing operations, related to the Company's restructuring, transactions, and other initiatives during fiscal 2019. 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
(c)Includes after-tax 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
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(d)Includes after-tax 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
(e)Includes after-tax 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.
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