Item 6. SELECTED FINANCIAL DATA

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Item 6. SELECTED FINANCIAL DATA

The following table presents selected historical financial data for the successor periods consisting of the year ended December 31, 2018, three months ended December 2017, fiscal year ended September 30, 2017 and successor period of December 4, 2015 through September 24, 2016, as well as the predecessor periods of September 27, 2015 through March 2, 2016, fiscal year ended September 26, 2015 and fiscal year ended September 27, 2014. These periods have been derived from our Audited Consolidated Financial Statements.

You should read this information along with the information included in Item 7, "Management's Discussion and Analysis of Financial Condition and Results of Operations," and our Audited Consolidated Financial Statements and the related Notes thereto included elsewhere in this Annual Report on Form 10-K. The Company has not made reclassifications to the historical predecessor periods of the Fiscal Year Ended September 26, 2015 and the Fiscal Year Ended September 27, 2014, as they are not presented in the Consolidated Financial Statements within Item 8.



	Successor												Predecessor
(in millions, except per share data)	Year Ended December 31, 2018			Three Months Ended December 31, 2017			Fiscal Year Ended September 30, 2017			December 4, 2015 through September 24, 2016			September 27, 2015 through March 2, 2016			Fiscal Year Ended September 26, 2015			Fiscal Year Ended September 27, 2014
Statements of Income Data:
Net sales	$	7,442		$	1,170		$	4,269		$	2,293		$	2,025		$	4,520		$	4,708
Gross profit	3,882			527			2,044			1,073			800			1,608			1,816
Income from operations	1,237			229			897			393			147			765			947
Net income(2)	589			619			383			109			100			499			597
Basic earnings per share(1)	$	0.54		$	0.77		$	0.48		$	0.19		$	0.66		$	3.17		$	3.80
Diluted earnings per share(1)	0.53			0.77			0.47			0.18			0.66			3.14			3.74
Dividends declared per share(3)	0.30			—			—			—			0.33			1.15			1.00
Statements of Cash Flows Data:
Cash provided by (used in):
Operating activities	$	1,613		$	385		$	1,749		$	280		$	837		$	755		$	719
Investing activities	(19,131		)	(18		)	180			(13,772		)	(75		)	(498		)	(472		)
Financing activities	17,577			(620		)	(2,026		)	13,937			(647		)	(972		)	253


(1)	The weighted average number of shares of common stock outstanding used in the calculation of earnings per share ("EPS") during the year ended December 31, 2018 was impacted by the issuance of KDP common stock and the shares retained by the DPS stockholders. Refer to the Consolidated Statements of Changes in Stockholders' Equity and Note 1 of the Notes to our Audited Consolidated Financial Statements for further information. Additionally, the EPS for periods owned by the predecessor were computed under the predecessor's ownership structure and were not adjusted as a result of the DPS Merger.

(1)

The weighted average number of shares of common stock outstanding used in the calculation of earnings per share ("EPS") during the year ended December 31, 2018 was impacted by the issuance of KDP common stock and the shares retained by the DPS stockholders. Refer to the Consolidated Statements of Changes in Stockholders' Equity and Note 1 of the Notes to our Audited Consolidated Financial Statements for further information. Additionally, the EPS for periods owned by the predecessor were computed under the predecessor's ownership structure and were not adjusted as a result of the DPS Merger.


(2)	For the three months ended December 31, 2017, net income, basic earnings per share, and diluted earnings per share were impacted by the initial impact of the legislation commonly referred to as the Tax Cuts and Jobs Act of 2017. Refer to Note 6 of the Notes to our Audited Consolidated Financial Statements for further information.


(3)	During the periods of the Three Months Ended December 31, 2017, Fiscal Year Ended September 30, 2017 and the Successor period of December 4, 2015 through September 24, 2016 the Company did not declare dividends on a per share basis, as Maple was a privately-held company. The Company did declare and pay dividends of $10 million, $54 million and $10 million in the respective periods. Additionally, during the year ended December 31, 2018, prior to the DPS Merger, the Company declared and paid $23 million in dividends.

(3)

During the periods of the Three Months Ended December 31, 2017, Fiscal Year Ended September 30, 2017 and the Successor period of December 4, 2015 through September 24, 2016 the Company did not declare dividends on a per share basis, as Maple was a privately-held company. The Company did declare and pay dividends of $10 million, $54 million and $10 million in the respective periods. Additionally, during the year ended December 31, 2018, prior to the DPS Merger, the Company declared and paid $23 million in dividends.



	Successor								Predecessor
	December 31,				September 30, 2017		September 24, 2016		September 26, 2015		September 27, 2014
(in millions)	2018		2017
Balance Sheet Data:
Goodwill and other intangible assets, net	$	43,978	$	13,653	$	13,691	$	14,060	$	1,171	$	1,121
Total assets	48,918		15,744		16,107		16,609		4,002		4,797
Short-term borrowings and current portion of long-term obligations	1,458		219		219		186		—		19
Current portion of capital lease and financing obligations	26		6		6		3		3		2
Structured payables	526		—		—		—		—		—
Long-term obligations	14,201		4,879		5,475		7,322		331		141
Capital lease and financing obligations, less current	305		97		99		111		117		116
Total stockholders’ equity	22,533		7,398		6,828		6,510		2,709		3,459

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