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, 2018 through 2020 and the balance sheet data as of December 31, 2020 and 2019, 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, 2017 and 2016 and the balance sheet data as of December 31, 2018, 2017 and 2016 are derived from the Company’s audited consolidated financial statements not included herein.
| | | | | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (in thousands, except per share information) | | 2020 | | 2019 | | 2018 | | 2017 | | 2016 | |||||
| Net sales1 | | $ | 4,598,638 | | $ | 4,200,819 | | $ | 3,807,183 | | $ | 3,369,045 | | $ | 3,049,393 |
| Gross profit1 | | $ | 2,723,880 | | $ | 2,518,585 | | $ | 2,295,375 | | $ | 2,137,690 | | $ | 1,942,000 |
| Gross profit as a percentage to net sales | | | 59.2% | | | 60.0% | | | 60.3% | | | 63.5% | | | 63.7% |
| Operating income1,2 | | $ | 1,633,153 | | $ | 1,402,939 | | $ | 1,283,619 | | $ | 1,198,787 | | $ | 1,085,338 |
| Net income1,2 | | $ | 1,409,594 | | $ | 1,107,835 | | $ | 993,004 | | $ | 820,678 | | $ | 712,685 |
| Net income per common share: | | | | | | | |||||||||
| Basic | | $ | 2.66 | | $ | 2.04 | | $ | 1.78 | | $ | 1.45 | | $ | 1.21 |
| Diluted | | $ | 2.64 | | $ | 2.03 | | $ | 1.76 | | $ | 1.42 | | $ | 1.19 |
| Cash, cash equivalents and investments | | $ | 2,106,058 | | $ | 1,343,925 | | $ | 958,163 | | $ | 1,203,921 | | $ | 600,530 |
| Total assets | | $ | 6,202,716 | | $ | 5,150,352 | | $ | 4,526,891 | | $ | 4,791,012 | | $ | 4,153,471 |
| Stockholders’ equity | | $ | 5,160,860 | | $ | 4,171,281 | | $ | 3,610,901 | | $ | 3,895,212 | | $ | 3,329,709 |
¹ Includes $42.1 million, $46.3 million, $44.3 million, $43.4 million and $40.3 million for the years ended December 31, 2020, 2019, 2018, 2017 and 2016, respectively, related to the recognition of deferred revenue.
2 Includes $0.2 million, $11.3 million, $26.6 million, $35.4 million and $79.8 million for the years ended December 31, 2020, 2019, 2018, 2017 and 2016, respectively, related to expenditures attributable to the costs associated with terminating existing distributors_._
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