Item 6. Selected Financial Data

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Item 6. Selected Financial Data


(In thousands except for per-share amounts)
Operating Data (a) (e)	2020		2019		2018		2017		2016
Sales	$	2,121,100	$	2,194,226	$	2,254,668	$	2,066,982	$	1,808,994
Cost of sales	990,632		1,002,123		1,018,340		927,692		813,792
% of sales	47		46		45		45		45
Selling and administrative expenses	693,552		708,990		733,749		672,888		597,076
% of sales	33		32		33		33		33
Assets held for sale impairment charge	87,371		—		—		—		—
% of sales	4		—		—		—		—
Operating profit	349,545		483,113		502,579		466,402		398,126
% of sales	16		22		22		23		22
Net income	249,539		337,091		377,375		295,802		271,843
% of sales	12		15		17		14		15
Financial Data (a) (f)
Net current assets (g)	$	657,523	$	533,569	$	533,822	$	240,626	$	414,032
Net property, plant and equipment and other non-current assets	2,654,044		2,505,252		2,536,910		2,526,167		1,675,008
Total capital (b)	2,656,693		2,674,023		2,669,154		2,648,094		1,767,369
Total assets	3,674,656		3,516,447		3,421,012		3,414,539		2,420,583
Long-term liabilities	1,552,576		1,457,776		1,619,991		1,611,300		1,237,437
Shareholders’ equity	1,758,991		1,581,045		1,450,741		1,155,493		851,603
Return on average total capital — % (c)	10		14		15		14		16
Return on average shareholders’ equity — % (d)	15		23		28		30		37
Per-Share Data (a)
Average number of common shares	57,757		57,462		57,970		57,533		57,060
Average number of common shares and common share equivalents	58,473		58,202		58,931		58,204		57,530
Basic earnings per share	$	4.32	$	5.87	$	6.51	$	5.14	$	4.76
Diluted earnings per share	4.27		5.79		6.40		5.08		4.73
Dividends per common share	1.53		1.43		1.25		1.11		0.99
Book value per common share	30.29		27.45		25.00		20.02		14.86

(a)See accompanying Notes to Consolidated Financial Statements.

(b)Notes payable, plus current portion of long-term debt, plus long-term debt, minus cash and marketable securities, plus shareholders’ equity.

(c)Net income plus after-tax interest expense on borrowings as a percentage of the average of quarterly borrowings (net of cash) plus shareholders’ equity over the last five quarterly accounting periods.

(d)Net income as a percentage of average quarterly shareholders’ equity over the last five quarterly accounting periods.

(e)Certain amounts for the years 2016 through 2018 have been adjusted to reflect the retrospective application of our reclassification of certain pension costs upon the adoption of a new accounting standard in 2019.

(f)Certain amounts for 2016 have been adjusted to reflect the retrospective application of our reclassification of debt issuance costs upon the adoption of a new accounting standard in 2017.

(g)Net current assets equal total current assets less total current liabilities. The 2020 increase was driven primarily by the decrease in current maturities of long-term debt.

Nordson Corporation 24

Table of Co ntents

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