The following tables include selected consolidated summary financial data for each of our last five fiscal years. This data should be read in conjunction with Item 8, “Financial Statements and Supplementary Data,” and Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in this Annual Report on Form 10-K.
Year ended June 30,
(In thousands, except per share amounts)
2019
2018
2017
2016
2015
Consolidated Statements of Operations(1)(2):
Total revenues
$
4,568,904
$
4,036,701
$
3,480,014
$
2,984,493
$
2,814,049
Net income attributable to KLA(3)
$
1,175,617
$
802,265
$
926,076
$
704,422
$
366,158
Cash dividends declared per share (including a special cash dividend of $16.50 per share declared during the three months ended December 31, 2014)
$
3.00
$
2.52
$
2.14
$
2.08
$
18.50
Net income per share attributable to KLA:
Basic
$
7.53
$
5.13
$
5.92
$
4.52
$
2.26
Diluted
$
7.49
$
5.10
$
5.88
$
4.49
$
2.24
As of June 30,
2019
2018
2017
2016
2015
Consolidated Balance Sheets(1)(2):
Cash, cash equivalents and marketable securities
$
1,739,385
$
2,880,318
$
3,016,740
$
2,491,294
$
2,387,111
Working capital(4)
$
2,546,589
$
3,334,730
$
3,102,094
$
2,868,062
$
2,904,758
Total assets
$
9,008,516
$
5,638,619
$
5,550,334
$
4,977,076
$
4,841,023
Long-term debt(5)
$
3,173,383
$
2,237,402
$
2,680,474
$
3,057,936
$
3,173,435
Total KLA stockholders’ equity(5)
$
2,659,108
$
1,620,511
$
1,326,417
$
689,114
$
421,439
(1)
On July 1, 2018, we adopted ASC 606 using the modified retrospective transition approach. Results for reporting periods beginning after June 30, 2018 are presented under ASC 606, while prior period amounts are not adjusted and continue to be reported in accordance with the previous revenue guidance in ASC 605. Refer to Note 2, “Revenue” to our Consolidated Financial Statements for additional details.
(2)
On February 20, 2019, we completed the acquisition of Orbotech for total purchase consideration of approximately $3.26 billion. The operating results of Orbotech have been included in our Consolidated Financial Statements for the fiscal year ended June 30, 2019 from the Acquisition Date. For additional details, refer to Note 6 “Business Combinations” to our Consolidated Financial Statements.
(3)
Our net income decreased to $802.3 million in the fiscal year ended June 30, 2018, primarily as a result of the income tax effects from the enacted tax reform legislation through the Tax Cuts and Jobs Act, which was signed into law on December 22, 2017. Our net income was $366.2 million in the fiscal year ended June 30, 2015, primarily as a result of the impact of the pre-tax net loss of $131.7 million for the loss on extinguishment of debt and certain one-time expenses of $2.5 million associated with the leveraged recapitalization that was completed during the three months ended December 31, 2014.
(4)
We adopted the accounting standards update regarding classification of deferred taxes on a prospective basis at the beginning of the fourth quarter of fiscal year ended 2016. Upon adoption, approximately $218.0 million in net current deferred tax assets were reclassified to noncurrent. No prior periods were retrospectively adjusted.
(5)
Our long-term debt increased to $3.17 billion at the end of fiscal year ended June 30, 2019, because we issued $1.20 billion aggregate principal amount of senior, unsecured long-term notes. Refer to Note 8, “Debt” to our Consolidated Financial Statements for additional details. Our total stockholders’ equity decreased to $421.4 million at the end of fiscal year ended June 30, 2015, because, as part of our leveraged recapitalization plan, we declared a special cash dividend of approximately $2.76 billion. Refer to Note 9, “Equity, Long-term Incentive Compensation Plans and Non-Controlling Interest” to the Consolidated Financial Statements for additional details.
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