Our selected consolidated financial data for the periods presented should be read in conjunction with “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and notes thereto beginning on page F-1 of this Annual Report on Form 10-K.
The selected Consolidated Statement of Income data for the years ended December 31, 2015, 2014 and 2013 and the selected Consolidated Statement of Financial Condition data as of December 31, 2015 and 2014 are derived from our audited consolidated financial statements beginning on page F-1 of this Annual Report on Form 10-K. Our consolidated financial statements for the years ended December 31, 2015, 2014 and 2013 have been audited and reported upon by an independent registered public accounting firm in each period. The selected Consolidated Statement of Income data for the years ended December 31, 2012 and 2011 and the selected Consolidated Statement of Financial Condition data as of December 31, 2013, 2012 and 2011 are derived from our audited consolidated financial statements not included in this Annual Report on Form 10-K.
The selected financial information presented below may not be indicative of our future performance.
As of or For the Years Ended
December 31, 2015 (1)
December 31, 2014 (2)
December 31, 2013 (4)
December 31, 2012 (5)
December 31, 2011
(in thousands, except operating margin and per share data)
Operating revenues
$
1,075,013
$
996,680
$
913,364
$
826,990
$
781,355
Total operating expenses
671,115
659,514
573,033
508,755
484,193
Operating income
403,898
337,166
340,331
318,235
297,162
Other expense (income), net
54,344
28,828
27,503
57,434
59,592
Provision for income taxes
119,516
109,396
112,918
96,010
78,634
Income from continuing operations
230,038
198,942
199,910
164,791
158,936
Income (loss) from discontinued operations, net of income taxes
(6,390
)
85,171
(3)
22,647
19,447
14,518
Net income
$
223,648
$
284,113
$
222,557
$
184,238
$
173,454
Operating margin
37.6
%
33.8
%
37.3
%
38.5
%
38.0
%
Earnings per basic common share from continuing operations
$
2.11
$
1.72
$
1.66
$
1.34
$
1.31
Earnings per diluted common share from continuing operations
(0.06
)
0.73
0.19
0.16
0.12
Earnings per basic common share
$
2.05
$
2.45
$
1.85
$
1.50
$
1.43
Earnings per basic common share from continuing operations
$
2.09
$
1.70
$
1.64
$
1.32
$
1.29
Earnings per diluted common share from continuing operations
(0.06
)
0.73
0.19
0.16
0.12
Earnings per basic common share
$
2.03
$
2.43
$
1.83
$
1.48
$
1.41
Weighted average shares outstanding used in computing earnings per share
(in thousands, except operating margin and per share data)
Goodwill and intangible assets, net of accumulated amortization
$
1,957,111
$
1,998,532
$
2,408,871
$
2,438,827
$
2,367,809
Total assets
$
3,146,987
$
2,882,533
$
3,129,286
$
3,013,118
$
3,072,849
Deferred revenue
$
317,552
$
310,775
$
319,735
$
308,022
$
289,217
Current maturities of long-term debt
$
—
$
—
$
18,301
$
40,654
$
5,964
Long-term debt, net of current maturities
$
1,579,404
$
788,358
$
782,652
$
805,227
$
1,048,462
Total shareholders’ equity
$
901,487
$
1,432,833
$
1,564,347
$
1,413,950
$
1,294,151
(1)
Includes the impact of Insignis from the October 16, 2015 acquisition date, which was not material. Deferred taxes have been presented in accordance with ASU 2015-17 prospectively beginning on December 31, 2015. Prior periods have not been retrospectively restated to match this presentation.
(2)
Includes the results of GMI Ratings from the August 11, 2014 acquisition date, the impact of which was not material.
(3)
Includes the net gain resulting from the disposition of ISS, the impact of which was not material.
(4)
Includes the results of InvestorForce from the January 29, 2013 acquisition date, the impact of which was not material.
(5)
Includes the results of IPD from the November 30, 2012 acquisition date, the impact of which was not material.
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