Item 6. SELECTED CONSOLIDATED FINANCIAL DATA

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Item 6. SELECTED CONSOLIDATED FINANCIAL DATA

The selected consolidated financial data set forth below is derived from our consolidated financial statements and should be read in conjunction with our audited consolidated financial statements and notes included in Item 8 of Part II of this report as well as "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations".



	Fiscal Year Ended
	February 2, 2020			February 3, 2019			January 28, 2018		January 29, 2017		January 31, 2016
	(In thousands, except per share data)
Consolidated statement of operations and comprehensive income data:
Net revenue	$	3,979,296		$	3,288,319		$	2,649,181	$	2,344,392	$	2,060,523
Cost of goods sold	1,755,910			1,472,032			1,250,391		1,144,775		1,063,357
Gross profit	2,223,386			1,816,287			1,398,790		1,199,617		997,166
Selling, general and administrative expenses	1,334,276			1,110,451			904,264		778,465		628,090
Asset impairment and restructuring costs	—			—			38,525		—		—
Income from operations	889,110			705,836			456,001		421,152		369,076
Other income (expense), net	8,283			9,414			3,997		1,577		(581		)
Income before income tax expense	897,393			715,250			459,998		422,729		368,495
Income tax expense	251,797			231,449			201,336		119,348		102,448
Net income	$	645,596		$	483,801		$	258,662	$	303,381	$	266,047

Other comprehensive income (loss), net of tax:
Foreign currency translation adjustment	(7,773		)	(73,885		)	58,577		36,703		(64,796		)
Comprehensive income	$	637,823		$	409,916		$	317,239	$	340,084	$	201,251

Basic earnings per share	$	4.95		$	3.63		$	1.90	$	2.21	$	1.90
Diluted earnings per share	$	4.93		$	3.61		$	1.90	$	2.21	$	1.89
Basic weighted-average number of shares outstanding	130,393			133,413			135,988		137,086		140,365
Diluted weighted-average number of shares outstanding	130,955			133,971			136,198		137,302		140,610



	As of
	February 2, 2020		February 3, 2019		January 28, 2018		January 29, 2017		January 31, 2016
	(In thousands)
Consolidated balance sheet data1:
Cash and cash equivalents	$	1,093,505	$	881,320	$	990,501	$	734,846	$	501,482
Inventories	518,513		404,842		329,562		298,432		284,009
Total assets	3,281,354		2,084,711		1,998,483		1,657,541		1,314,077
Total liabilities	1,329,136		638,736		401,523		297,568		286,595
Total stockholders' equity	1,952,218		1,445,975		1,596,960		1,359,973		1,027,482


(1)	We adopted ASC 842 on February 4, 2019 using the modified retrospective approach with no restatement of comparative periods. See Note 2 to the audited consolidated financial statements included in Item 8 of Part II of this report for additional information.

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