filings.toolsItem 6. SELECTED FINANCIAL DATA
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Item 6. SELECTED FINANCIAL DATA
The following table should be read in conjunction with Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Item 8. Financial Statements and Supplementary Data.
| Year Ended December 31, | |||||||||||||||||||||||||||||
| (In millions, except per share data) | 2020 | 2019 | 2018(a) | 2017(b) | 2016 | ||||||||||||||||||||||||
| Statements of Income Data | |||||||||||||||||||||||||||||
| Sales and other operating revenue(c)(d) | $ | 69,779 | $ | 111,148 | $ | 86,086 | $ | 67,009 | $ | 55,641 | |||||||||||||||||||
| Income (loss) from continuing operations | (12,247) | 4,462 | 4,690 | 3,265 | 1,623 | ||||||||||||||||||||||||
| Income (loss) from continuing operations per share: | |||||||||||||||||||||||||||||
| Basic | $ | (16.99) | $ | 2.78 | $ | 4.06 | $ | 5.29 | $ | 0.80 | |||||||||||||||||||
| Diluted | (16.99) | 2.76 | 4.00 | 5.24 | 0.80 | ||||||||||||||||||||||||
| Dividends per share | 2.32 | 2.12 | 1.84 | 1.52 | 1.36 | ||||||||||||||||||||||||
| December 31, | |||||||||||||||||||||||||||||
| (In millions) | 2020 | 2019 | 2018(a) | 2017 | 2016 | ||||||||||||||||||||||||
| Balance Sheet Data | |||||||||||||||||||||||||||||
| Total assets | $ | 85,158 | $ | 98,556 | $ | 92,940 | $ | 49,047 | $ | 44,413 | |||||||||||||||||||
| Long-term debt(e) | 31,584 | 28,724 | 27,420 | 12,946 | 10,572 |
(a)On October 1, 2018, we acquired Andeavor. The financial results for these operations are included in our consolidated results from the date of acquisition, excluding the results reclassified to discontinued operations due to the planned Speedway sale.
(b)Earnings for 2017 include a tax benefit of approximately $1.5 billion, or $2.93 per diluted share, as a result of re-measuring certain net deferred tax liabilities using the lower corporate tax rate enacted in the fourth quarter of 2017.
(c)As a result of the agreement to sell Speedway, its results are reported separately as discontinued operations for all periods presented. Refining & Marketing intersegment sales to Speedway that were previously eliminated in consolidation are reported as third party sales as we will continue to supply fuel to Speedway following its disposition.
(d)The 2020, 2019 and 2018 periods reflect an election to present certain taxes on a net basis concurrent with our adoption of ASU 2014-09, Revenue - Revenue from Contracts with Customers (“ASC 606”).
(e)Includes amounts due within one year. Excludes debt obligations of Speedway, which have been reclassified as liabilities held for sale.
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