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Item 6. Selected Financial Data

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Item 6. Selected Financial Data



	Year Ended
June 28, 2020				June 30, 2019				June 24, 2018				June 25, 2017				June 26, 2016
	(in thousands, except per share data)
OPERATIONS:
Revenue	$	10,044,736			$	9,653,559			$	11,076,998			$	8,013,620			$	5,885,893
Gross margin	4,608,693				4,358,459				5,165,032				3,603,359				2,618,922
Operating income	2,673,802				2,464,732				3,213,299				1,902,132				1,074,256
Net income	2,251,753				2,191,430				2,380,681				1,697,763				914,049
Net income per share:
Basic	$	15.55			$	14.37			$	14.73			$	10.47			$	5.75
Diluted	$	15.10			$	13.70			$	13.17			$	9.24			$	5.22
Cash dividends declared per common share	$	4.60			$	4.40			$	2.55			$	1.65			$	1.20
BALANCE SHEET:
Working capital	$	7,691,093			$	6,188,759			$	5,999,603			$	6,192,383			$	6,795,109
Total assets	14,559,047				12,001,333				12,479,478				12,122,765				12,264,315			(1)
Total obligations, less current portion	6,213,116				4,906,379				2,749,127				2,185,338				3,744,205			(1)
Current portion of long-term debt and finance leases	839,877				667,131				610,030				908,439				947,733			(1)


(1)	Adjusted for effects of retrospective implementation of Accounting Standards Update 2015-3 in the first quarter of fiscal 2017.



	Three Months Ended (1)
June 28, 2020				March 29, 2020				December 29, 2019				September 29, 2019
	unaudited (in thousands, except per share data)
QUARTERLY FISCAL YEAR 2020:
Revenue	$	2,791,864			$	2,503,625			$	2,583,501			$	2,165,746
Gross margin	1,280,332				1,167,007				1,179,644				981,710
Operating income	755,722				694,114				686,511				537,455
Net income	696,673				574,781				514,510				465,789
Net income per share
Basic	$	4.79			$	3.96			$	3.57			$	3.22
Diluted	$	4.73			$	3.88			$	3.43			$	3.09
Number of shares used in per share calculations:
Basic	145,295				145,301				143,987				144,673
Diluted	147,416				148,165				150,097				150,682

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Lam Research Corporation 2020 10-K 32



	Three Months Ended (1)
June 30, 2019				March 31, 2019				December 23, 2018				September 23, 2018
	unaudited (in thousands, except per share data)
QUARTERLY FISCAL YEAR 2019:
Revenue	$	2,361,147			$	2,439,048			$	2,522,673			$	2,330,691
Gross margin	1,080,891				1,074,337				1,145,033				1,058,198
Operating income	617,085				565,517				690,379				591,751
Net income	541,825				547,390				568,855				533,360
Net income per share
Basic	$	3.66			$	3.62			$	3.67			$	3.43
Diluted	$	3.51			$	3.47			$	3.51			$	3.23
Number of shares used in per share calculations:
Basic	148,131				151,201				155,022				155,658
Diluted	154,474				157,849				162,170				165,327


(1)	Our reporting period is a 52/53-week fiscal year. The fiscal years ended June 28, 2020, and June 30, 2019, included 52 and 53 weeks, respectively. All quarters presented above included 13 weeks, except for the quarter ended March 31, 2019, which includes 14 weeks.

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