filings.toolsItem 6. Selected Financial Data.
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Item 6. Selected Financial Data.
The following tables present selected financial data and should be read in conjunction with the consolidated financial statements and notes thereto of Nasdaq included elsewhere in this Form 10-K. We completed a divestiture in April 2018 and several acquisitions during the years ended December 31, 2018, 2017, 2016 and 2015 and included the financial results of such acquisitions in our consolidated financial statements from the respective acquisition dates. On January 1, 2018, we adopted Topic 606 using the full retrospective method which required restatement of 2017 and 2016 financial statements. Earlier periods were not restated.
Selected Financial Data
| Year Ended December 31, | ||||||||||||||||||||
| 2018 | 2017 | 2016 | 2015 | 2014 | ||||||||||||||||
| (in millions, except share and per share amounts) | ||||||||||||||||||||
| Statements of Income Data: | ||||||||||||||||||||
| Total revenues | $ | 4,277 | $ | 3,948 | $ | 3,704 | $ | 3,403 | $ | 3,500 | ||||||||||
| Transaction-based expenses | (1,751 | ) | (1,537 | ) | (1,428 | ) | (1,313 | ) | (1,433 | ) | ||||||||||
| Revenues less transaction-based expenses | 2,526 | 2,411 | 2,276 | 2,090 | 2,067 | |||||||||||||||
| Total operating expenses | 1,498 | 1,420 | 1,440 | 1,370 | 1,313 | |||||||||||||||
| Operating income | 1,028 | 991 | 836 | 720 | 754 | |||||||||||||||
| Net income attributable to Nasdaq | 458 | 729 | 106 | 428 | 414 | |||||||||||||||
| Per share information: | ||||||||||||||||||||
| Basic earnings per share | $ | 2.77 | $ | 4.38 | $ | 0.64 | $ | 2.56 | $ | 2.45 | ||||||||||
| Diluted earnings per share | $ | 2.73 | $ | 4.30 | $ | 0.63 | $ | 2.50 | $ | 2.39 | ||||||||||
| Cash dividends declared per common share | $ | 1.70 | $ | 1.46 | $ | 1.21 | $ | 0.90 | $ | 0.58 | ||||||||||
| Weighted-average common shares outstanding for earnings per share: | ||||||||||||||||||||
| Basic | 165,349,471 | 166,364,299 | 165,182,290 | 167,285,450 | 168,926,733 | |||||||||||||||
| Diluted | 167,691,299 | 169,585,031 | 168,800,997 | 171,283,271 | 173,018,849 |
| December 31, | ||||||||||||||||||||
| 2018 | 2017 | 2016 | 2015 | 2014 | ||||||||||||||||
| (in millions) | ||||||||||||||||||||
| Balance Sheets Data: | ||||||||||||||||||||
| Cash and cash equivalents and financial investments | $ | 813 | $ | 612 | $ | 648 | $ | 502 | $ | 601 | ||||||||||
| Default funds and margin deposits | 4,742 | 3,988 | 3,301 | 2,228 | 2,194 | |||||||||||||||
| Goodwill | 6,363 | 6,586 | 6,027 | 5,395 | 5,538 | |||||||||||||||
| Total assets | 15,700 | 15,354 | 13,411 | 11,257 | 11,542 | |||||||||||||||
| Long-term debt | 2,956 | 3,727 | 3,603 | 2,364 | 2,297 | |||||||||||||||
| Total Nasdaq stockholders' equity | 5,449 | 5,880 | 5,428 | 5,609 | 5,794 |
Previous: Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities · Next: Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations