filings.toolsItem 6. Selected Financial Data (Unaudited)
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Item 6. Selected Financial Data (Unaudited)
The following table presents the selected consolidated financial data and should be read in conjunction with our consolidated financial statements and related notes and Management's Discussion and Analysis of Financial Condition and Results of Operations included elsewhere in this Annual Report on Form 10-K. We derived the selected financial data as of October 31, 2020 and for each of the fiscal years in the three-year period ended October 31, 2020 from our audited consolidated financial statements included elsewhere in this Annual Report on Form 10-K. We derived the selected financial data as of October 31, 2018, 2017 and 2016 from audited consolidated financial statements that are not included in this Annual Report on Form 10-K.
| Year Ended October 31, | |||||||||||||||||||
| 2020**(a)(b)** | 2019**(a)** | 2018 | 2017 | 2016 | |||||||||||||||
| (in millions, except per share data) | |||||||||||||||||||
| Consolidated Statement of Operations Data: | |||||||||||||||||||
| Revenue | $ | 4,221 | $ | 4,303 | $ | 3,878 | $ | 3,189 | $ | 2,918 | |||||||||
| Income (loss) before taxes | $ | 761 | $ | 715 | $ | (411 | ) | $ | 179 | $ | 366 | ||||||||
| Net income | $ | 627 | $ | 621 | $ | 165 | $ | 102 | $ | 335 | |||||||||
| Net income per share | |||||||||||||||||||
| Basic | $ | 3.35 | $ | 3.31 | $ | 0.88 | $ | 0.57 | $ | 1.97 | |||||||||
| Diluted | $ | 3.31 | $ | 3.25 | $ | 0.86 | $ | 0.56 | $ | 1.95 | |||||||||
| Weighted average shares used in computing net income per share: | |||||||||||||||||||
| Basic | 187 | 188 | 187 | 180 | 170 | ||||||||||||||
| Diluted | 189 | 191 | 191 | 182 | 172 |
| October 31, | |||||||||||||||||||
| 2020**(a)(b)** | 2019**(a)** | 2018 | 2017 | 2016 | |||||||||||||||
| (in millions) | |||||||||||||||||||
| Consolidated Balance Sheet Data: | |||||||||||||||||||
| Cash and cash equivalents | $ | 1,756 | $ | 1,598 | $ | 913 | $ | 818 | $ | 783 | |||||||||
| Working capital | $ | 2,293 | $ | 2,212 | $ | 916 | $ | 1,358 | $ | 1,210 | |||||||||
| Total assets | $ | 7,218 | $ | 6,623 | $ | 5,824 | $ | 5,933 | $ | 3,796 | |||||||||
| Long-term debt | $ | 1,789 | $ | 1,788 | $ | 1,291 | $ | 2,038 | $ | 1,093 | |||||||||
| Stockholders' equity | $ | 3,297 | $ | 3,004 | $ | 2,433 | $ | 2,310 | $ | 1,513 |
(a) We adopted the Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC 606”) on November 1, 2018 using the modified retrospective method with the cumulative effect of initially applying the guidance recognized at the date of adoption.
(b) We adopted the ASC Topic 842,Leases (“ASC 842”) on November 1, 2019, using the modified retrospective transition approach with the cumulative effect of initially applying the standard recognized at the date of adoption. The standard requires substantially all leases to be reported on the balance sheet as right-of-use assets and lease obligations. See Note 2, "New Accounting Pronouncements."
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