filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
The consolidated statements of operations data set forth below with respect to each of the fiscal years ended December 31, 2016 through 2018 and the balance sheet data as of December 31, 2018 and 2017, are derived from our audited consolidated financial statements included herein, and should be read in conjunction with those financial statements and notes thereto, and with Management’s Discussion and Analysis of Financial Condition and Results of Operations included as Part II, Item 7 of this Annual Report on Form 10-K. The consolidated statements of operations data for the fiscal years ended December 31, 2015 and 2014 and the balance sheet data as of December 31, 2016, 2015 and 2014 are derived from the Company’s audited consolidated financial statements not included herein.
| (in thousands, except per share information) | 2018 | 2017 | 2016 | 2015 | 2014 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales1,2 | $ | 3,807,183 | $ | 3,369,045 | $ | 3,049,393 | $ | 2,722,564 | $ | 2,464,867 | |||||
| Gross profit1,2 | $ | 2,295,375 | $ | 2,137,690 | $ | 1,942,000 | $ | 1,632,301 | $ | 1,339,810 | |||||
| Gross profit as a percentage to net sales | 60.3% | 63.5% | 63.7% | 60.0% | 54.4% | ||||||||||
| Operating income1,3 | $ | 1,283,619 | $ | 1,198,787 | $ | 1,085,338 | $ | 893,653 | $ | 747,505 | |||||
| Net income1,3 | $ | 993,004 | $ | 820,678 | $ | 712,685 | $ | 546,733 | $ | 483,185 | |||||
| Net income per common share: | |||||||||||||||
| Basic | $ | 1.78 | $ | 1.45 | $ | 1.21 | $ | 0.97 | $ | 0.96 | |||||
| Diluted | $ | 1.76 | $ | 1.42 | $ | 1.19 | $ | 0.95 | $ | 0.92 | |||||
| Cash, cash equivalents and investments | $ | 958,163 | $ | 1,203,921 | $ | 600,530 | $ | 2,935,375 | $ | 1,194,397 | |||||
| Total assets | $ | 4,526,891 | $ | 4,791,012 | $ | 4,153,471 | $ | 5,571,277 | $ | 1,938,875 | |||||
| Stockholders’ equity | $ | 3,610,901 | $ | 3,895,212 | $ | 3,329,709 | $ | 4,809,410 | $ | 1,515,150 |
¹ Includes $44.3 million, $43.4 million, $40.3 million, $62.8 million and $15.0 million for the years ended December 31, 2018, 2017, 2016, 2015 and 2014, respectively, related to the recognition of deferred revenue.
2 Net sales and gross profit were negatively impacted by approximately $42.2 million for the year ended December 31, 2018 as a result of the adoption of ASC 606.
3 Includes $26.6 million, $35.4 million, $79.8 million, $224.0 million and ($0.2) million for the years ended December 31, 2018, 2017, 2016, 2015 and 2014, respectively, related to expenditures attributable to the costs associated with terminating existing distributors.
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