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Item 6. Selected Financial Data

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Item 6. Selected Financial Data



	Year Ended
June 24, 2018				June 25, 2017				June 26, 2016				June 28, 2015				June 29, 2014
	(in thousands, except per share data)
OPERATIONS:
Revenue	$	11,076,998			$	8,013,620			$	5,885,893			$	5,259,312			$	4,607,309
Gross margin	5,165,032				3,603,359				2,618,922				2,284,336				2,007,481
Goodwill impairment (1)	—				—				—				79,444				—
Operating income	3,213,299				1,902,132				1,074,256				788,039				677,669
Net income	2,380,681				1,697,763				914,049				655,577				632,289
Net income per share:
Basic	$	14.73			$	10.47			$	5.75			$	4.11			$	3.84
Diluted	$	13.17			$	9.24			$	5.22			$	3.70			$	3.62
Cash dividends declared per common share	$	2.55			$	1.65			$	1.20			$	0.84			$	0.18
BALANCE SHEET:
Working capital	$	5,999,603			$	6,192,383			$	6,795,109			$	3,639,488			$	3,201,661
Total assets	12,479,478				12,122,765				12,264,315			(2)	9,358,904			(2)	7,986,998			(2)
Long-term obligations, less current portion	2,749,127				2,185,338				3,744,205			(2)	1,386,536			(2)	1,191,913			(2)
Current portion of long-term debt and capital leases	610,030				908,439				947,733			(2)	1,355,705			(2)	518,267


(1)	Goodwill impairment analysis during fiscal year 2015 resulted in a non-cash impairment charge to our Clean reporting unit, extinguishing the goodwill ascribed to the reporting unit.


(2)	Adjusted for effects of retrospective implementation of ASU 2015-3 in the first quarter of fiscal 2017.

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Lam Research Corporation 2018 10-K 31



	Three Months Ended (1)
June 24, 2018				March 25, 2018				December 24, 2017				September 24, 2017
	unaudited (in thousands, except per share data)
QUARTERLY FISCAL YEAR 2018:
Revenue	$	3,125,928			$	2,892,115			$	2,580,815			$	2,478,140
Gross margin	1,479,408				1,330,714				1,205,567				1,149,343
Operating income	955,195				827,511				737,371				693,222
Net income (loss)	1,021,146			(2)	778,800				(9,955		)	(2)	590,690
Net income (loss) per share
Basic	$	6.35			$	4.80			$	(0.06	)	(2)	$	3.64
Diluted	$	5.82			$	4.33			$	(0.06	)	(2)	$	3.21
Number of shares used in per share calculations:
Basic	160,916				162,378				161,135				162,141
Diluted	175,432				179,779				161,135				183,880



	Three Months Ended (1)
June 25, 2017				March 26, 2017				December 25, 2016				September 25, 2016
	unaudited (in thousands, except per share data)
QUARTERLY FISCAL YEAR 2017:
Revenue	$	2,344,907			$	2,153,995			$	1,882,299			$	1,632,419
Gross margin	1,068,961				971,404				846,797				716,197
Operating income	607,939				538,418				439,828				315,947
Net income	526,424				574,713				332,791				263,835
Net income per share
Basic	$	3.25			$	3.52			$	2.05			$	1.64
Diluted	$	2.82			$	3.10			$	1.81			$	1.47
Number of shares used in per share calculations:
Basic	162,213				163,408				162,659				160,607
Diluted	186,427				185,094				183,543				180,017


(1)	Our reporting period is a 52/53-week fiscal year. The fiscal years ended June 24, 2018, and June 25, 2017, included 52 weeks. All quarters presented above included 13 weeks.


(2)	The comparability of our quarter ended December 24, 2017 was affected by a $757 million provisional charge associated with the December 2017 U.S. tax reform. During the quarter ended June 24, 2018, $116 million of this provisional charge was reversed.

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